2 Bed Flat, Single Let, Southend-on-Sea, SS1 2ZS, £185,000

*** VACANT POSSESSION *** IDEAL 1ST OR RETIREMENT STYLE PURCHASE *** Forge Way, Southend-On-Sea, SS1 2ZS - 7 months ago

Leasehold
BTL
ROI: 3%
~68 m²
+6 photos

ValuationUndervalued

Sold Prices£1 - £337K
Sold Prices/m²£0/m² - £5.1K/m²

 

 

Square Metres

~68.11 m²
Price/m²£2.7K/m²

Value Estimate

£222,664
BMV20%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£46,250

Stamp Duty & Legal Fees

£10,450

Total Cash In

£56,700

 

 

Cash Out

 

Rent Range

£850 - £2,500

Rent Estimate

£934

Running Costs/mo

£785

Cashflow/mo

£149

Cashflow/yr

£1,789

ROI

3%

Gross Yield

6%

Local Sold Prices

51 sold prices from £1 to £337K, average is £200K. £0/m² to £5.1K/m², average is £3.3K/m².

PriceDateDistanceAddressBeds 
£220K03/230.05 mi51, Eastern Esplanade, Southend-on-sea SS1 2ES2
£240K11/210.09 mi3, Jetty Mews, Southend-on-sea SS1 2AG2
£103/210.11 mi31, Northumberland Avenue, Southend-on-sea SS1 2TH2
£220K01/230.11 mi28, Retort Close, Southend-on-sea SS1 2AQ2
£230K07/230.14 miFlat 15, Melville Court, Victoria Road, Southend-on-sea SS1 2TQ2
£192K04/210.17 mi21a, Kensington Road, Southend-on-sea SS1 2SX2
£290K06/230.17 mi45a, Kensington Road, Southend-on-sea SS1 2SX2
£337K08/210.18 mi100, Victoria Road, Southend-on-sea SS1 2TF2
£195.5K03/230.2 mi89, Marks Court, Southend-on-sea SS1 2RQ2
£175K03/210.23 mi22, Marks Court, Southend-on-sea SS1 2RH2
£153K11/200.23 mi34, Marks Court, Southend-on-sea SS1 2RH2
£267.5K07/210.29 mi1a, Chester Avenue, Southend-on-sea SS1 2YW2
£267.5K07/210.3 mi1a, Chester Avenue, Southend-on-sea SS1 2YW2
£217.5K01/230.31 mi11a, Cheltenham Road, Southend-on-sea SS1 2SB2
£265K06/230.34 mi6a, Chelsea Avenue, Southend-on-sea SS1 2YL2
£215K04/210.35 mi123, Eastern Esplanade, Southend-on-sea SS1 2YH2
£280K10/210.36 mi6, Chelsea Avenue, Southend-on-sea SS1 2YL2
£197K12/200.39 mi53, Leamington Road, Southend-on-sea SS1 2SW2
£177.5K11/200.4 mi131a, Brunswick Road, Southend-on-sea SS1 2UL2
£189K03/210.41 mi55, Cheltenham Road, Southend-on-sea SS1 2SA2
£190K06/210.41 mi43a, Honiton Road, Southend-on-sea SS1 2RY2
£155K12/220.43 mi109, Southchurch Avenue, Southend-on-sea SS1 2RW2
£320K05/210.44 mi132, Southchurch Avenue, Southend-on-sea SS1 2RP2
£245K01/230.45 mi12, Cromer Road, Southend-on-sea SS1 2DU2
£330K09/210.45 mi111, Ambleside Drive, Southend-on-sea SS1 2UP2
£197.5K12/230.46 mi49, Ambleside Drive, Southend-on-sea SS1 2UT2
£175K08/210.46 mi59, Ambleside Drive, Southend-on-sea SS1 2UT2
£230K12/220.48 mi3, Hastings Road, Southend-on-sea SS1 2DR2
£170K09/230.49 mi111c, York Road, Southend-on-sea SS1 2DL2
£130K06/210.49 mi120a, York Road, Southend-on-sea SS1 2DJ2
£148.5K06/210.5 mi11, Kilworth Avenue, Southend-on-sea SS1 2DS2
£198K05/230.52 mi3a, Hastings Road, Southend-on-sea SS1 2DR2
£300K07/230.57 mi12, Plas Newydd Close, Southend-on-sea SS1 3AH2
£192.5K10/230.59 mi15a, Lovelace Avenue, Southend-on-sea SS1 2QU2
£210K12/230.59 mi9a, Lancaster Gardens, Southend-on-sea SS1 2NS2
£245K03/210.63 mi31a, Plas Newydd, Southend-on-sea SS1 3AG2
£255K06/230.63 mi23a, Plas Newydd, Southend-on-sea SS1 3AG2
£200K06/210.64 mi31a, Christchurch Road, Southend-on-sea SS2 4JS2
£170K06/210.65 mi36a, Oakleigh Avenue, Southend-on-sea SS1 2QR2
£130K08/230.65 mi75a, Tyrrel Drive, Southend-on-sea SS1 2LN2
£193K12/230.65 mi6, Tyrrel Drive, Southend-on-sea SS1 2LN2
£210K10/200.65 mi8a, Tyrrel Drive, Southend-on-sea SS1 2LN2
£180K03/210.66 mi16a, Stromness Road, Southend-on-sea SS2 4JQ2
£270K11/210.68 mi4, Bellevue Mews, Southend-on-sea SS2 4PE2
£192.5K06/210.69 mi27a, Stromness Road, Southend-on-sea SS2 4JG2
£200K10/210.69 mi39, Stromness Road, Southend-on-sea SS2 4JG2
£200K03/210.7 mi78, Boscombe Road, Southend-on-sea SS2 4JP2
£180K05/210.7 mi101a, Boscombe Road, Southend-on-sea SS2 4JP2
£177K03/210.71 mi11a, Oban Road, Southend-on-sea SS2 4JJ2
£177K03/210.71 mi11a, Oban Road, Southend-on-sea SS2 4JJ2
£220K12/220.71 mi18a, Ilfracombe Road, Southend-on-sea SS2 4PB2

Local Rents

50 rents from £850/mo to £2.5K/mo, average is £1.2K/mo.

RentDateDistanceAddressBeds 
£2,50002/250.01 mi-2
£1,50003/250.01 mi-2
£1,15009/240.09 miRetort Close, Southend on Sea2
£1,30007/240.11 mi-2
£1,25009/240.14 miManilla Road, Southend-on-Sea2
£1,14503/250.16 mi-2
£1,00009/240.19 miMarks Court, Southend-On-Sea2
£1,00009/240.23 miSouthchurch Avenue, Southend-On-Sea2
£1,07509/240.24 miCamper Road, Southend On Sea2
£92509/240.26 miNorthumberland Crescent, Southend On Sea2
£1,50007/240.26 mi-2
£1,50008/240.26 mi-2
£1,55008/240.26 mi-2
£1,19503/250.27 mi-2
£1,05002/250.28 mi-2
£1,10002/240.29 mi-2
£1,10009/240.31 miClose To Seafront, Southend On Sea2
£1,20002/250.31 miSeafront, Southend On Sea2
£1,50009/240.31 miFreemans Court, 1 Honiton Road, Southend On Sea, Essex, SS12
£1,40007/240.33 mi-2
£1,39509/240.33 miWoodgrange Drive, Southend-On-Sea2
£1,30009/240.33 miSouthchurch Avenue, Southend-on-Sea, Essex, SS12
£90010/240.34 mi-2
£1,20009/240.35 miSouthchurch Avenue, Southend On Sea2
£1,40009/240.35 miEastern Esplanade, Waterside, SS12
£2,25004/250.38 mi-2
£99502/240.39 mi-2
£99509/240.39 mi-2
£1,10003/250.39 mi-2
£1,20009/240.4 miYork Road, Southend-On-Sea, Essex, SS12
£1,20009/240.4 miHoniton Road, Southend-On-Sea2
£2,07009/240.42 mi-2
£2,07009/240.42 miNorthumberland Crescent, Southend-On-Sea, SS12
£1,30009/240.42 miElizabeth Road, Southend on sea, Southend on Sea, 2
£1,30003/250.42 mi-2
£1,60004/250.44 mi-2
£1,10008/240.44 mi-2
£1,15009/240.45 miYork Road, Southend-on-Sea2
£1,50009/240.47 miEastern Esplanade, Southend-On-Sea2
£1,50009/240.47 miEastern Esplanade, Southend-On-Sea, Essex, SS12
£1,40009/240.47 miSovereign Views, SOUTH END2
£1,60009/240.47 miEastern Esplanade, Southend-on-Sea, Essex, SS12
£1,20004/250.49 mi-2
£1,20004/250.49 mi-2
£1,40009/240.5 miChase Court Gardens, Southend-on-Sea2
£1,25007/240.5 mi-2
£1,12508/240.51 mi-2
£1,29501/250.53 mi-2
£85010/240.53 mi-2
£1,05001/250.55 mi-2

Local Area Statistics

Population in SS1

26,369

Population in Southend-on-Sea

106,129

Town centre distance

1.27 miles away

Nearest school

0.50 miles away

Nearest train station

0.49 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+40%

Sales demand

Buyer's market

Capital growth (5yrs)

+21%

Property History

Price changed to £185,000

February 16, 2025

Listed for £200,000

September 21, 2024

Floor Plans

Description

  • TWO BEDROOM GROUND FLOOR FLAT +
  • CLOSE PROXIMITY TO SOUTHEND SEA FRONT, TOWN CENTRE AND AMENITIES +
  • MODERN FITTED KITCHEN WITH INTEGRATED APPLIANCES +
  • GATED COMPLEX +
  • EN-SUITE SHOWER ROOM +
  • MODERN THROUGHOUT +
  • DOUBLE GLAZED +
  • ON ONWARD CHAIN +

ABODE is delighted to offer this 2 bedroom luxury, ground floor apartment located just off the sea front benefiting from its own external front door. The property comprises of an entrance hall, lounge / diner with French doors leading onto a south facing patio area, master bedroom with en-suite shower room, further bedroom, modern 3 piece bathroom suite with heated towel rail and a modern fitted kitchen comprising of a range of wall and base units incorporating integrated appliances including dishwasher, fridge / freezer, and washer / dryer.

The property has just been extensively decorated and has had newly fitted carpets installed as well as benefiting from an allocated secure parking space just outside the front door

ACCOMMODATION COMPRISES:

Entrance hall: Wood effect flooring, wall mounted heater, storage cupboard housing, doors to all rooms:

Bedroom One: Double glazed window to front, wall mounted heater, Door to.

En-suite: Shower cubicle, enclosed WC, wash hand basin, tiling to walls and floor, heated towel rail.

Bedroom Two: Double glazed window to rear, wall mounted heater.

Lounge: Double glazed doors to front patio area, wall mounted heater, wood effect flooring, door to kitchen:

Kitchen: Double glazed window to rear, matching wall and base units with roll edge work surfaces, built in appliances including washing machine, dishwasher, fridge/freezer. Built in oven with electric hob and extractor hood over. single drainer sink unit with mixer taps, wood effect flooring.

Bathroom: Tiling to walls and floor, bath with mixer taps and shower attachment, enclosed WC, wash hand basin, heated towel rail. Outside: There are communal garden areas that are well maintained. Secured Gated Entry to Parking Area, Where You Have One Allocated Space plus a Visitor Parking Space.

AGENTS NOTES:
Lease - 125 years from 1 January 2003 - 104 Years remaining

Freeholder: Gateway Holdings (NWB) ltd
Service Charge £1,314.71 (PA)
Ground Rent £337,50 (PA)

Building Insurance - £587.87 (PA)
Council Tax - Band C

EPC - D64

AGENTS NOTE: We have been advised that NO PETS are allowed in the development

Agent Details

Abode, Covering Essex

01702 418793

Next Steps?

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