2 Bed Flat, Single Let, Bognor Regis, PO22 6ES, £110,000

Elmer Road, Bognor Regis, West Sussex, PO22 6ES - 6 months ago

Sold STC

Leasehold

BTL

ROI: 22%

~68 m²

+14 photos

ValuationUndervalued

Sold Prices	£98K - £330K
Sold Prices/m²	£1.9K/m² - £5.2K/m²

Square Metres	~68.11 m²
Price/m²	£1.6K/m²
Value Estimate	£132,000£132,000
BMV	20%

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£27,500£27,500
Stamp Duty & Legal Fees	£4,500£4,500
Total Cash In	£32,000£32,000

Cash Out
Rent Range	£975 - £1,250£975 - £1,250
Rent Estimate	£1,196
Running Costs/mo	£603£603
Cashflow/mo	£593£593
Cashflow/yr	£7,117£7,117
ROI	22%22%
Gross Yield	13%13%

Local Sold Prices

23 sold prices from £98K to £330K, average is £165K. £1.9K/m² to £5.2K/m², average is £2.9K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£164.5K	07/21	0 mi	Flat 26, St Nicholas Court, Elmer Road, Bognor Regis, West Sussex PO22 6ES	-	-	2	Flat
£116K	03/21	0.08 mi	Flat 67, Buckingham Court, Shrubbs Drive, Bognor Regis, West Sussex PO22 7SF	-	-	2	Flat
£98K	03/21	0.08 mi	Flat 77, Buckingham Court, Shrubbs Drive, Bognor Regis, West Sussex PO22 7SF	-	-	2	Flat
£150K	05/23	0.08 mi	Flat 60, Buckingham Court, Shrubbs Drive, Bognor Regis, West Sussex PO22 7SF	-	-	2	Flat
£150K	12/22	0.1 mi	22, Kingfisher Court, Bognor Regis, West Sussex PO22 7ST	£2,500	60	2	Flat
£180K	01/23	0.11 mi	42, Kingfisher Court, Bognor Regis, West Sussex PO22 7ST	£2,903	62	2	Flat
£165K	07/23	0.11 mi	11, Kingfisher Court, Bognor Regis, West Sussex PO22 7ST	£2,661	62	2	Flat
£117K	10/21	0.11 mi	15, Kingfisher Court, Bognor Regis, West Sussex PO22 7ST	£1,857	63	2	Flat
£140K	07/23	0.11 mi	17, Kingfisher Court, Bognor Regis, West Sussex PO22 7ST	£2,127	66	2	Flat
£125K	08/23	0.11 mi	45, Kingfisher Court, Bognor Regis, West Sussex PO22 7ST	-	-	2	Flat
£275K	06/23	0.11 mi	11, Greenfields, Bognor Regis, West Sussex PO22 7SS	£3,528	78	2	Flat
£285K	06/23	0.11 mi	14, Greenfields, Bognor Regis, West Sussex PO22 7SS	£3,353	85	2	Flat
£159.5K	12/20	0.16 mi	7, Nightingale Court, Bognor Regis, West Sussex PO22 7SU	£2,615	61	2	Flat
£124K	05/23	0.24 mi	15, Satinwood Close, Bognor Regis, West Sussex PO22 6SB	£2,933	42	2	Flat
£330K	12/22	0.32 mi	30, Thompson Road, Bognor Regis, West Sussex PO22 7UG	£5,156	64	2	Flat
£164K	01/21	0.35 mi	92a, Elmer Road, Bognor Regis, West Sussex PO22 6EX	£3,216	51	2	Flat
£317.5K	01/21	0.37 mi	7, Freya Close, Bognor Regis, West Sussex PO22 7UQ	£4,233	75	2	Flat
£300K	09/23	0.37 mi	6, Freya Close, Bognor Regis, West Sussex PO22 7UQ	-	-	2	Flat
£317.5K	01/21	0.37 mi	7, Freya Close, Bognor Regis, West Sussex PO22 7UQ	£4,233	75	2	Flat
£282.5K	06/21	0.37 mi	15, Freya Close, Bognor Regis, West Sussex PO22 7UQ	£4,216	67	2	Flat
£250K	02/23	0.81 mi	6, Lionel Avenue, Bognor Regis, West Sussex PO22 8LF	-	-	2	Flat
£188K	11/20	0.89 mi	Flat 4, Norwood Court, Northwyke Close, Bognor Regis, West Sussex PO22 8QP	-	-	2	Flat
£169.9K	12/23	0.9 mi	5, Northwyke Close, Bognor Regis, West Sussex PO22 8QH	£2,575	66	2	Flat

Local Rents

10 rents from £975/mo to £1.3K/mo, average is £1.2K/mo.

Rent	Date	Distance	Address	Beds	Type
£1,195	07/24	0.11 mi	Harefield Gardens, Middleton on Sea	2	Flat
£1,250	07/24	0.18 mi	Silver Birch Drive, Middleton On Sea, Bognor Regis, PO22	2	Terraced House
£1,200	07/24	0.18 mi	Silver Birch Drive, Middleton On Sea, Bognor Regis, PO22	2	Terraced House
£1,225	08/24	0.26 mi	Middleton-On-Sea	2	Terraced House
£1,200	07/24	0.28 mi	Alfred Close, Bognor Regis	2	House
£975	07/24	0.35 mi	Elmer Road, BOGNOR REGIS	2	Flat
£1,200	07/24	0.46 mi	Baldwin Close, Bognor Regis	2	House
£1,250	08/24	0.49 mi	Henfield Way, Bognor Regis, PO22	2	Terraced House
£1,250	08/24	0.5 mi	Henfield Way, Felpham, Bognor Regis, PO22	2	Terraced House
£1,200	12/24	0.58 mi	-	2	Flat

Local Area Statistics

Population in PO22	28,86628,866
Population in Bognor Regis	68,38068,380
Town centre distance	2.51 miles away2.51 miles away
Nearest school	0.70 miles away0.70 miles away
Nearest train station	2.61 miles away2.61 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+3%+3%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+16%+16%

Property History

Listed for £110,000

August 29, 2024

Floor Plans

Description

- Age Restricted +
- Stair Lift +
- New Kitchen +
- Parking +
- Middleton-on-sea +
- Chain Free +

Offered with no forward chain, this two-bedroom apartment in St. Nicholas Court is overlooking landscaped gardens. Facilities include a resident manager, lounge, laundry and emergency alarm service, access to the courtyard gardens and parking in the central courtyard . This stylish two bedroom apartment is situated in Middleton-On-Sea close to local shops and Doctors Surgery.

The property has recently been refurbished throughout with new carpets in the lounge and benefits from a stair lift and a new stylish fitted white kitchen. The bathroom has a bath and an up and over shower. viewing highly recommended

Agent Details

King & Chasemore, Bognor Regis

020 3835 6486

Next Steps?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪

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CashflowsOpen in Analyser

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Links

Local Area Statistics

Property History

Floor Plans

Description

Agent Details

Next Steps?

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