2 Bed Bungalow, Refurb/BRRR, Salisbury, SP3 4RH, £325,000

Orcheston, Salisbury, Wiltshire, SP3 4RH - 6 months ago

Sold STC
Refurb/BRRR
~68 m²
+2 photos

ValuationOvervalued

Sold Prices£152K - £294K
Sold Prices/m²£2.6K/m² - £4.1K/m²

 

 

Square Metres

~68.11 m²
Price/m²£4.8K/m²

Value Estimate

£232,406

 

 

End Value (After Refurb)

£325,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£81,250

Stamp Duty & Legal Fees

£14,700

Refurb Costs

£27,612

Bridging Loan Interest

£8,531

Total Cash In

£133,843

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£325,000

Mortgage (After Refinance)

£243,750

Mortgage LTV

75%

Cash Left In

£133,843

Equity

£81,250

Rent Range

£725 - £1,650

Rent Estimate

£1,013

Running Costs/mo

£1,238

Cashflow/mo

£-225

Cashflow/yr

£-2,703

Gross Yield

4%

Local Sold Prices

10 sold prices from £152K to £294K, average is £221K. £2.6K/m² to £4.1K/m², average is £3.5K/m².

PriceDateDistanceAddressBeds 
£200K09/210.71 mi6, The Butts, Shrewton, Salisbury, Wiltshire SP3 4LD2
£207.5K07/210.72 mi3, Elston Lane, Shrewton, Salisbury, Wiltshire SP3 4FB2
£180K11/200.78 miThe Old Forge, London Road, Shrewton, Salisbury, Wiltshire SP3 4DH2
£152K10/200.79 miThe Old Cottage, High Street, Shrewton, Salisbury, Wiltshire SP3 4DB2
£294K04/220.79 mi15, Old School Mews, Shrewton, Salisbury, Wiltshire SP3 4FA2
£217K10/210.79 miHill Cottage, London Road, Shrewton, Salisbury, Wiltshire SP3 4DH2
£225K12/200.86 mi2, Old School Mews, Shrewton, Salisbury, Wiltshire SP3 4FA2
£290K07/221.11 mi18, London Road, Shrewton, Salisbury, Wiltshire SP3 4DN2
£250K04/212.29 mi903, High Street, Tilshead, Salisbury, Wiltshire SP3 4RX2
£250K11/202.55 mi5, West End, Tilshead, Salisbury, Wiltshire SP3 4SG2

Local Rents

3 rents from £725/mo to £1.6K/mo, average is £1.3K/mo.

RentDateDistanceAddressBeds 
£1,30009/240.01 miOrcheston, Salisbury, Wiltshire, SP33
£1,65003/250.67 mi-3
£72509/240.75 miThe Garage Apartment, Shrewton1

Local Area Statistics

Population in SP3

11,309

Population in Salisbury

93,605

Town centre distance

10.60 miles away

Nearest school

0.50 miles away

Nearest train station

10.41 miles away

 

 

Rental growth (12m)

+19%

Sales demand

Balanced market

Capital growth (5yrs)

+18%

Property History

Listed for £325,000

September 27, 2024

Floor Plans

Description

  • Well situated +
  • Two bedrooms +
  • detached bungalow +
  • generous sized plot +
  • double garage +
  • In need of modernisation. +

A well situated two bedroomed detached bungalow generous sized plot with a double garage and in need of modernisation.

A two bedroom bungalow with potential to extend and in need of modernisation. There are two bedrooms both with built-in wardrobes with one bedroom having a shower which could be conversed into a proper ensuite as this is a large enough room. The sitting room is to the front has the benefit of a fireplace and sliding patio doors out to the gum. It was the kitchen to the rear which leads it into a sunroom. There is also a separate bathroom and separate WC.
There is a useful entrance area which could be used for a study.
The property further benefits from PVC double glazing and oil fired central heating. There is a double garage outside. The bungalow sits well within its plot and there is potential to extend in all directions if so required ( subject to obtaining the necessary permissions ).

Orcheston is a pretty village situated on Salisbury Plain and 3 miles from Stonehenge World Heritage Site. The nearby village of Shrewton provides a variety of amenities including a public house, garage, independent butcher, village shop & post office, primary school and a doctors’ surgery.
The cathedral city of Salisbury (12 miles) offers a more extensive range of facilities including bars, cafes, restaurants, independent and high street shops and a train station offering regular train services to London Waterloo (86 minutes). The surrounding countryside of Orcheston is an ideal place for walking, cycling, golf and riding.
There is a variety of excellent schooling in the area including both Bishops & South Wilts Grammar Schools, and Salisbury Cathedral School, Dauntseys, Chafyn Grove, Leehurst Swan, Godolphin School.
The property is within easy reach of the A303 to the south connecting London and the West Country, the A360 is to the west and provides access to Salisbury.

As previously mentioned, the gardens are particular feature of the property with areas of lawn, flower borders, and interspersion of mature plants and trees

Double Garage With off-road parking spaces in front and steps leading up to the garden.

Band D

Services mains water electric and drainage. Oil central heating.

what 3 words. Prospered.spokes.tech

Agent Details

Woolley & Wallis, Salisbury

01722 548402

Next Steps?

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