3 Bed Bungalow, Refurb/BRRR, Chichester, PO20 0EL, £375,000

58 Gainsborough Drive, Chichester, West Sussex, PO20 0EL - 4 views - 8 months ago

Refurb/BRRR
75 m²
+10 photos

ValuationOvervalued

Sold Prices£200K - £550K
Sold Prices/m²£2.3K/m² - £7K/m²

 

 

Square Metres

75 m²
Price/m²£5K/m²

Value Estimate

£262,650

 

 

End Value (After Refurb)

£354,500

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£93,750

Stamp Duty & Legal Fees

£18,700

Refurb Costs

£34,516

Bridging Loan Interest

£9,844

Total Cash In

£158,560

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£354,500

Mortgage (After Refinance)

£265,875

Mortgage LTV

75%

Cash Left In

£158,560

Equity

£88,625

Rent Range

£750 - £2,250

Rent Estimate

£1,240

Running Costs/mo

£1,376

Cashflow/mo

£-136

Cashflow/yr

£-1,630

Gross Yield

4%

Local Sold Prices

50 sold prices from £200K to £550K, average is £319.9K. £2.3K/m² to £7K/m², average is £3.8K/m².

PriceDateDistanceAddressBeds 
£308K03/210.02 mi35, Gainsborough Drive, Selsey, Chichester, West Sussex PO20 0EL3
£347.5K02/210.02 mi54, Gainsborough Drive, Selsey, Chichester, West Sussex PO20 0EL3
£260K04/210.08 mi1, Beach Road, Selsey, Chichester, West Sussex PO20 0LT3
£315K03/230.08 mi35, Beach Road, Selsey, Chichester, West Sussex PO20 0LT3
£472K05/230.1 miTinley House, Elm Tree Close, Selsey, Chichester, West Sussex PO20 0TG3
£350K11/220.1 mi6, Landseer Drive, Selsey, Chichester, West Sussex PO20 0EQ3
£358K03/230.11 mi42, Gainsborough Drive, Selsey, Chichester, West Sussex PO20 0EW3
£355K06/230.11 mi12, Gainsborough Drive, Selsey, Chichester, West Sussex PO20 0EW3
£330K11/220.12 mi38, Church Road, Selsey, Chichester, West Sussex PO20 0LS3
£353K02/230.13 mi9, Kilnwood Close, Selsey, Chichester, West Sussex PO20 0HQ3
£270K11/200.13 mi10, Kilnwood Close, Selsey, Chichester, West Sussex PO20 0HQ3
£390K05/230.14 mi2, Netherton Close, Selsey, Chichester, West Sussex PO20 0BP3
£248.5K03/210.15 mi9, Elm Tree Close, Selsey, Chichester, West Sussex PO20 0SQ3
£285K03/210.16 mi11, Northfield, Selsey, Chichester, West Sussex PO20 0EA3
£450K06/210.17 mi11, Church Road, Selsey, Chichester, West Sussex PO20 0LR3
£310K05/210.19 mi31, Constable Drive, Selsey, Chichester, West Sussex PO20 0EG3
£325K10/200.19 mi17, Constable Drive, Selsey, Chichester, West Sussex PO20 0EG3
£450K06/230.19 mi31, Constable Drive, Selsey, Chichester, West Sussex PO20 0EG3
£550K02/230.19 mi10, Manor Farm Court, Selsey, Chichester, West Sussex PO20 0LY3
£275K08/210.19 mi26, Broomfield Road, Selsey, Chichester, West Sussex PO20 0PB3
£323.8K03/230.19 mi1, Lingfield Way, Selsey, Chichester, West Sussex PO20 0DX3
£405K11/220.21 miMymsmead, Chichester Road, Selsey, Chichester, West Sussex PO20 0LX3
£245K06/210.22 mi36, North Road, Selsey, Chichester, West Sussex PO20 0BW3
£200K05/210.23 mi9, Robins Close, Selsey, Chichester, West Sussex PO20 0QX3
£310K12/220.23 mi10, Robins Close, Selsey, Chichester, West Sussex PO20 0QX3
£230K03/210.25 mi8, Manor Farm Close, Selsey, Chichester, West Sussex PO20 0LZ3
£265K02/210.25 mi4, Manor Farm Close, Selsey, Chichester, West Sussex PO20 0LZ3
£232K01/210.25 mi16, Manor Farm Close, Selsey, Chichester, West Sussex PO20 0LZ3
£235K01/210.25 mi12, Manor Farm Close, Selsey, Chichester, West Sussex PO20 0LZ3
£450K09/210.26 mi44, Marisfield Place, Selsey, Chichester, West Sussex PO20 0PD3
£275K07/210.27 mi22, Hanover Close, Selsey, Chichester, West Sussex PO20 0DT3
£425K11/220.31 mi25, Harcourt Way, Selsey, Chichester, West Sussex PO20 0PF3
£293K11/200.31 mi80, Beach Road, Selsey, Chichester, West Sussex PO20 0SZ3
£250K06/230.32 mi53, East Street, Selsey, Chichester, West Sussex PO20 0BN3
£216K12/200.32 mi70, St Peters Crescent, Selsey, Chichester, West Sussex PO20 0NP3
£316K02/230.33 mi4, Fontwell Road, Selsey, Chichester, West Sussex PO20 0PE3
£375K09/210.33 mi4, Glyn House Close, Selsey, Chichester, West Sussex PO20 0QD3
£360K02/210.34 mi30, St Peters Crescent, Selsey, Chichester, West Sussex PO20 0NA3
£270K06/210.34 mi30, Ruskin Close, Selsey, Chichester, West Sussex PO20 0TE3
£350K04/230.35 mi27, Fontwell Road, Selsey, Chichester, West Sussex PO20 0PG3
£285K12/200.35 mi31, Fontwell Road, Selsey, Chichester, West Sussex PO20 0PG3
£258K04/210.37 mi7, Fidler Close, Selsey, Chichester, West Sussex PO20 0FA3
£356.5K03/210.38 mi47, Sunnymead Drive, Selsey, Chichester, West Sussex PO20 0DG3
£265K12/200.39 mi4, Chichester Road, Selsey, Chichester, West Sussex PO20 0NQ3
£375K05/210.4 mi18, Albion Road, Selsey, Chichester, West Sussex PO20 0DH3
£375K05/230.4 mi14, Sunnymead Drive, Selsey, Chichester, West Sussex PO20 0DF3
£372K12/200.4 mi20, Sunnymead Drive, Selsey, Chichester, West Sussex PO20 0DF3
£372K12/200.4 mi20, Sunnymead Drive, Selsey, Chichester, West Sussex PO20 0DF3
£285K11/210.41 mi21, St Itha Road, Selsey, Chichester, West Sussex PO20 0AA3
£368.5K02/210.42 mi10, Drift Road, Selsey, Chichester, West Sussex PO20 0PW3

Local Rents

36 rents from £750/mo to £2.3K/mo, average is £1K/mo.

RentDateDistanceAddressBeds 
£1,50006/240.19 miManor Road Selsey PO203
£1,80007/240.19 miManor Road Selsey PO204
£1,00006/240.19 miManor Road, PO201
£1,65007/240.21 miNorth Road, Selsey, Chichester, PO204
£1,10006/240.22 miNorth Road, Selsey, Chichester2
£1,50006/240.24 miWellington Gardens, Selsey4
£1,25006/240.26 mi2 bedroom Semi Detached Bungalow in Selsey2
£1,35007/240.27 miHanover Close Selsey PO203
£1,35007/240.27 miHanover Close, Selsey PO203
£1,35012/240.27 miHanover Close, Selsey PO203
£1,35007/240.31 miEast Street, Selsey, PO203
£89512/240.32 mi-2
£1,59507/240.35 miBeach Road, Selsey, PO205
£97507/240.35 miVision House Lewis Road Selsey West Sussex2
£79506/240.36 mi-1
£1,35007/240.41 miTownsend Drive, Selsey, PO202
£1,40006/240.44 miKingsway, Selsey, Chichester, PO203
£1,25006/240.51 miJodrell Place, Selsey, Chichester, PO202
£1,50006/240.6 miPark Lane, Selsey, Chichester3
£1,05007/240.74 miVincent Road, Selsey2
£75006/240.81 miSeal Square, Selsey, Chichester, PO201
£90006/240.83 mi83 Hillfield Road, Selsey2
£99502/250.83 mi-2
£89506/240.83 mi-2
£95001/250.83 mi-2
£2,25006/240.86 miSelsey4
£80012/240.9 mi-2
£99007/242.02 miSesley Road, Sidlesham, Chichester, PO201
£99007/242.02 miSelsey Road, Sidlesham, Chichester, PO201
£80012/242.42 mi-2
£90001/252.45 mi-2
£80002/252.45 mi-2
£1,00002/252.45 mi-3
£90002/252.45 mi-2
£90002/252.45 mi-2
£90003/252.45 mi-2

Local Area Statistics

Population in PO20

32,437

Population in Chichester

75,877

Town centre distance

7.05 miles away

Nearest school

0.30 miles away

Nearest train station

5.91 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+7%

Sales demand

Buyer's market

Capital growth (5yrs)

+14%

Property History

Listed for £375,000

August 22, 2024

Sold for £246,000

2013

Sold for £249,950

2008

Sold for £185,000

2002

Floor Plans

Description

  • Detached bungalow occupying a larger than average plot +
  • Three double bedrooms +
  • Some modernisation required +
  • Living/dining room +
  • Kitchen & conservatory/sun room +
  • Driveway & garage with electric roller door +
  • West facing enclosed, private rear garden +
  • NO onward chain +
  • Close proximity to local shops and bus route +

Introducing this spacious detached bungalow, set on a larger than average, semi corner plot offering ample space for comfortable living. This property features three generously sized double bedrooms, providing plenty of room for all members of the household.

A dual aspect living/dining room that serves as the heart of the home, offers a versatile space for relaxation and entertainment. Adjacent to the living area is the kitchen providing a functional layout for culinary activities. Additionally, a conservatory/sun room can be accessed via the kitchen, offering a tranquil space to enjoy the surroundings & take in the views of the garden.

While the property boasts considerable potential, some modernisation is required, allowing the new owner the opportunity to tailor the space to their personal taste and requirements. To the front there is a generous frontage all laid to lawn along with a driveway that leads to a garage with an electric roller door, providing secure parking and convenient storage solutions for vehicles and belongings.

The west-facing enclosed rear garden offers a private oasis where residents can unwind and enjoy outdoor living in a peaceful setting. Whether it be for al fresco dining, gardening, or simply basking in the sunshine, this outdoor space provides a haven for relaxation.

Benefitting from being offered with NO onward chain, this property presents an enticing opportunity for those looking to move swiftly and hassle-free. The close proximity to local shops and a bus route further enhances the convenience of the location, ensuring that daily necessities and transportation needs are easily met.
EPC Rating: D Double Glazed Front Door Opening to:- Entrance Porch (1.11m x 1.37m) Glazed door to:- Entrance Hall doors to:- Living Room (3.62m x 5.92m) Kitchen (2.32m x 3.24m) Conservatory (1.9m x 3.79m) Bedroom 1 (3.58m x 3.74m) Bedroom 2 (2.63m x 3.02m) Bedroom 3 (2.48m x 3.37m) Shower room Walk-in shower, wash hand basin and wc. Front Garden Laid to lawn Rear Garden West facing with hardstanding for seating, rest laid to lawn with flower and shrub borders, Side access to front, personal doo to garage. Parking - Driveway Providing off road parking and leading to:- Parking - Garage 6.21m x 2.15m - Electric roller door, light and power, personal door to garden.

Agent Details

Henry Adams, Selsey

01243 973398

Next Steps?

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