3 Bed Bungalow, Cash/Bridging Only, Helston, TR12 7JS, £775,000

2 Pras Coombe, Ruan Minor, TR12 7JS - 7 months ago

Under Offer

Cash

~93 m²

ValuationOvervalued

Sold Prices	£205K - £465K
Sold Prices/m²	£2.4K/m² - £5.5K/m²

Square Metres	~93 m²
Price/m²	£8.3K/m²
Value Estimate	£303,180£303,180

End Value (After Refurb)	£580,000£580,000

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£193,750£193,750
Stamp Duty & Legal Fees	£50,700£50,700
Refurb Costs	£40,580£40,580
Bridging Loan Interest	£20,344£20,344
Total Cash In	£307,123£307,123

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£580,000£580,000
Mortgage (After Refinance)	£435,000£435,000
Mortgage LTV	75%75%
Cash Left In	£307,123£307,123
Equity	£145,000£145,000
Rent Range	£675 - £1,200£675 - £1,200
Rent Estimate	£938
Running Costs/mo	£2,020£2,020
Cashflow/mo	£-1,082£-1,082
Cashflow/yr	£-12,985£-12,985
Gross Yield	1%1%

Local Sold Prices

19 sold prices from £205K to £465K, average is £326K. £2.4K/m² to £5.5K/m², average is £3.6K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£425K	09/23	0.2 mi	20, Mundys Field, Ruan Minor, Helston, Cornwall TR12 7LF	£4,570	93	3	Detached House
£360K	07/22	0.2 mi	11, Mundys Field, Ruan Minor, Helston, Cornwall TR12 7LF	-	-	3	Semi-Detached House
£380K	03/21	0.3 mi	5, Ledra Close, Ruan Minor, Helston, Cornwall TR12 7LD	£3,725	102	3	Detached House
£326K	12/22	0.98 mi	The Cottage, Kuggar, Ruan Minor, Helston, Cornwall TR12 7LY	£3,260	100	3	Detached House
£465K	03/21	1.03 mi	Ferny Scat, Kuggar, Ruan Minor, Helston, Cornwall TR12 7LY	£4,043	115	3	Detached House
£340K	12/20	1.04 mi	Barn 2, The Coach House, Kuggar, Ruan Minor, Helston, Cornwall TR12 7LY	-	-	3	Semi-Detached House
£330K	03/22	1.06 mi	Grochall Cottage, Mile End, The Lizard, Helston, Cornwall TR12 7AS	£3,113	106	3	Terraced House
£465K	03/23	1.5 mi	Octagon Villa, Cross Common, The Lizard, Helston, Cornwall TR12 7PE	£4,515	103	3	Semi-Detached House
£378.8K	10/21	1.5 mi	Dene House, Cross Common, The Lizard, Helston, Cornwall TR12 7PE	£4,030	94	3	Semi-Detached House
£255K	11/20	1.54 mi	7, Mitchell Close, The Lizard, Helston, Cornwall TR12 7RR	£2,656	96	3	Terraced House
£316K	03/23	1.55 mi	22, Croft Parc, The Lizard, Helston, Cornwall TR12 7PN	£4,158	76	3	Semi-Detached House
£335K	12/22	1.57 mi	52, Croft Parc, The Lizard, Helston, Cornwall TR12 7PN	£5,492	61	3	Detached House
£265K	09/23	1.57 mi	13, Croft Parc, The Lizard, Helston, Cornwall TR12 7PN	£4,001	66	3	Semi-Detached House
£260K	12/21	1.57 mi	7, Croft Parc, The Lizard, Helston, Cornwall TR12 7PN	£3,611	72	3	Semi-Detached House
£205K	12/20	1.6 mi	13, Croft Parc, The Lizard, Helston, Cornwall TR12 7PN	£3,095	66	3	Semi-Detached House
£230K	06/21	1.62 mi	3, Henrys Croft, The Lizard, Helston, Cornwall TR12 7AX	£2,662	86	3	Terraced House
£230K	06/21	1.62 mi	3, Henrys Croft, The Lizard, Helston, Cornwall TR12 7AX	£2,662	86	3	Terraced House
£237.5K	02/21	1.68 mi	Sea Cure, Beacon Terrace, The Lizard, Helston, Cornwall TR12 7PB	£2,375	100	3	Terraced House
£220K	02/21	1.9 mi	Morgelynen, Penmenner Road, The Lizard, Helston, Cornwall TR12 7NN	£2,418	91	3	Semi-Detached House

Local Rents

2 rents from £675/mo to £1.2K/mo, average is £938/mo.

Rent	Date	Distance	Address	Beds	Type
£1,200	09/24	1.5 mi	Parc Garland, Cross Common	2	Flat
£675	09/24	1.55 mi	The Lizard, Helston	1	Flat

Local Area Statistics

Population in TR12	9,4829,482
Population in Helston	29,28929,289
Town centre distance	8.22 miles away8.22 miles away
Nearest school	0.30 miles away0.30 miles away
Nearest train station	11.91 miles away11.91 miles away

Rental growth (12m)	+12%+12%
Sales demand	Buyer's marketBuyer's market
Capital growth (5yrs)	+64%+64%

Property History

Listed for £775,000

September 30, 2024

Floor Plans

Description

EXECUTIVE STYLE BUNGALOW +
THREE BEDROOMS +
WONDERFUL RURAL SETTING +

Only two remaining properties available.

Currently under construction by a well regarded Cornish developer, an opportunity to purchase a three bedroom, detached bungalow of generous proportions on a good sized plot with garden, parking and a garage.

Nestled in the charming hamlet of St Ruan on the fringes of the bustling village of Ruan Minor, this generous detached bungalow will offer a perfect blend of comfort and style. It would seem ideal for those seeking a tranquil retreat in the heart of the countryside. The layout of the bungalow ensures ample space for both relaxation and entertainment, making it a wonderful place to call home.

AGENTS NOTE ONE
Expected completion March 2025.

SERVICES
Mains water, drainage and electricity. Air source heating.

MOBILE AND BROADBAND
To check the broadband and mobile coverage for this property please refer to the attached brochure.

ANTI MONEY LAUNDERING REGULATIONS - PURCHASER
We are required by law to ask all purchasers for verified ID prior to instructing a sale.

PROOF OF FUNDS - PURCHASERS
Prior to agreeing a sale, we will require proof of financial ability to purchase which will include an
agreement in principle for a mortgage and/or proof of cash funds.

Agent Details

Christophers, Helston

01326 331637

Next Steps?

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