3 Bed Terraced House, Refurb/BRRR, Bognor Regis, PO22 9JB, £240,000

100 Orchard Way, Bognor Regis, West Sussex, PO22 9JB - 6 months ago

Sold STC
Refurb/BRRR
ROI: 4%
~84 m²
+5 photos

ValuationOvervalued











Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£60,000

Stamp Duty & Legal Fees

£8,400

Refurb Costs

£39,107

Bridging Loan Interest

£6,300

Total Cash In

£115,557

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£239,429

Mortgage (After Refinance)

£179,571

Mortgage LTV

75%

Cash Left In

£115,557

Equity

£59,857

Rent Range

£1,300 - £2,125

Rent Estimate

£1,440

Running Costs/mo

£1,056

Cashflow/mo

£384

Cashflow/yr

£4,605

ROI

4%

Gross Yield

7%













Local Rents

10 rents from £1.3K/mo to £2.1K/mo, average is £1.4K/mo.

RentDateDistanceAddressBeds 
£1,30005/240.13 mi-3
£1,35003/250.13 mi-3
£1,30007/240.14 miThe Paddock, South Bersted, PO223
£1,45006/240.31 miDurlston Drive, BOGNOR REGIS3
£1,30006/240.36 miDorset Road, Bognor Regis3
£1,45007/240.37 miEssex Road, Bognor Regis, PO213
£1,35006/240.37 miBronze Close, Bognor Regis, PO223
£2,12506/240.38 miCarlingford Court, Bognor Regis, PO213
£2,00003/250.38 mi-3
£1,49512/240.59 mi-3

Local Area Statistics

Population in PO22

28,866

Population in Bognor Regis

68,380

Town centre distance

0.52 miles away

Nearest school

0.10 miles away

Nearest train station

0.68 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+3%

Sales demand

Balanced market

Capital growth (5yrs)

+16%

Property History

Listed for £240,000

September 1, 2024

Sold for £122,000

2004

Floor Plans

Description

  • Open House Friday 6th & Saturday 7th September +
  • Viewing By Appointment Only +
  • No Chain +
  • Complete Renovation Project +
  • Fantastic Opportunity +
  • Three Bedroom Terrace House +
  • Bathroom & Cloakroom +
  • Spacious Living Space +
  • Potential For Driveway +
  • Good Size Rear Garden +

*Renovation Opportunity*

Here we have a brilliant size three bedroom semi-detached house in need of renovation. This is a fantastic opportunity to purchase a house and add value or make a brilliant home.

The accommodation is laid out by a spacious living room leading to the kitchen at the rear. There is a separate room that leads to a downstairs cloakroom.

Upstairs has two large double bedrooms and a good size single room. There is a family bathroom, separate toilet and airing cupboard space.

To the rear is a good sized garden that can also be accessed through a private alley.

A large front has the potential to be converted to a private driveway.

Sales Disclaimer:

Successful buyers will be required to complete online identity checks provided by Lifetime Legal. The cost of these checks is £80 inc. VAT per purchase which is paid in advance, directly to Lifetime Legal. This charge verifies your identity in line with our obligations as agreed with HMRC and includes mover protection insurance to protect against the cost of an abortive purchase.

These particulars are believed to be correct and have been verified by or on behalf of the Vendor. However any interested party will satisfy themselves as to their accuracy and as to any other matter regarding the Property or its location or proximity to other features or facilities which is of specific importance to them. Distances and areas are only approximate and unless otherwise stated fixtures contents and fittings are not included in the sale. Prospective purchasers are always advised to commission a full inspection and structural survey of the Property before deciding to proceed with a purchase.

Agent Details

Leaders Sales, Bognor Regis

01243 973384

Next Steps?

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

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