2 Bed Flat, Refurb/BRRR, Staines, TW18 2JU, £280,000

31 Penton Court, Jamnagar Close, Staines-upon-Thames, Surrey, TW18 2JU - 2 views - 7 months ago

Leasehold

Refurb/BRRR

ROI: 1%

~64 m²

+3 photos

ValuationFair Value

Sold Prices	£220K - £425K
Sold Prices/m²	£3.7K/m² - £8.5K/m²

Square Metres	~63.50 m²
Price/m²	£4.4K/m²
Value Estimate	£282,800£282,800

End Value (After Refurb)	£326,957£326,957
Uplift in Value	+17%+17%

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£70,000£70,000
Stamp Duty & Legal Fees	£16,700£16,700
Refurb Costs	£33,594£33,594
Bridging Loan Interest	£7,350£7,350
Total Cash In	£129,394£129,394

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£326,957£326,957
Mortgage (After Refinance)	£245,218£245,218
Mortgage LTV	75%75%
Cash Released	£35,218£35,218
Cash Left In	£94,175£94,175
Equity	£81,739£81,739
Rent Range	£1,250 - £2,500£1,250 - £2,500
Rent Estimate	£1,500
Running Costs/mo	£1,342£1,342
Cashflow/mo	£158£158
Cashflow/yr	£1,899£1,899
ROI	1%1%
Gross Yield	6%6%

Local Sold Prices

39 sold prices from £220K to £425K, average is £307.5K. £3.7K/m² to £8.5K/m², average is £5.2K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£325K	01/21	0.04 mi	28, Penton Road, Staines, Surrey TW18 2JY	£5,078	64	2	Flat
£358K	09/23	0.17 mi	Flat 7, Swandrift, Riverside Road, Staines-upon-thames, Surrey TW18 2LE	-	-	2	Flat
£340K	12/20	0.17 mi	Flat 2, Thames Bank, Riverside Road, Staines, Surrey TW18 2LE	-	-	2	Flat
£302.8K	03/23	0.17 mi	Flat 7, Onslow Lodge, Riverside Road, Staines-upon-thames, Surrey TW18 2LE	-	-	2	Flat
£230K	10/20	0.23 mi	207a, Laleham Road, Staines-upon-thames, Surrey TW18 2NS	£3,770	61	2	Flat
£285K	09/21	0.34 mi	62a, Avondale Avenue, Staines, Surrey TW18 2NQ	£5,377	53	2	Flat
£270K	04/21	0.34 mi	72a, Avondale Avenue, Staines, Surrey TW18 2NQ	£5,510	49	2	Flat
£292K	07/23	0.34 mi	72a, Avondale Avenue, Staines-upon-thames, Surrey TW18 2NQ	£5,959	49	2	Flat
£307K	07/23	0.34 mi	14a, Penton Avenue, Staines-upon-thames, Surrey TW18 2NB	£5,219	59	2	Flat
£345K	04/21	0.36 mi	Flat 7, Hooper Court, Gresham Road, Staines, Surrey TW18 2AU	-	-	2	Flat
£275K	06/21	0.36 mi	95, Edgell Road, Staines, Surrey TW18 2EN	£5,093	54	2	Flat
£325K	04/21	0.37 mi	26, Budebury Road, Staines, Surrey TW18 2AX	£3,963	82	2	Flat
£277K	04/21	0.38 mi	7a, Penton Avenue, Staines, Surrey TW18 2NA	£5,540	50	2	Flat
£340K	10/20	0.44 mi	124, Avondale Avenue, Staines, Surrey TW18 2NF	£5,397	63	2	Flat
£220K	12/22	0.45 mi	116, Avondale Avenue, Staines-upon-thames, Surrey TW18 2NF	£3,667	60	2	Flat
£320K	07/23	0.45 mi	93c, Avondale Avenue, Staines-upon-thames, Surrey TW18 2NE	£5,161	62	2	Flat
£360K	04/23	0.48 mi	30d, Riverside Drive, Staines-upon-thames, Surrey TW18 3JN	£4,492	80	2	Flat
£340K	07/23	0.53 mi	11, Simmons Place, Staines-upon-thames, Surrey TW18 3HW	£5,763	59	2	Flat
£335K	06/21	0.53 mi	7, Simmons Place, Staines, Surrey TW18 3HW	£8,503	39	2	Flat
£285K	04/23	0.54 mi	4, The Fernery, Staines-upon-thames, Surrey TW18 3JJ	£5,182	55	2	Flat
£312K	02/21	0.54 mi	7, The Fernery, Staines-upon-thames, Surrey TW18 3JJ	£5,571	56	2	Flat
£337.5K	01/21	0.6 mi	Flat A, 182, Worple Road, Staines-upon-thames, Surrey TW18 1EH	-	-	2	Flat
£350K	11/23	0.65 mi	Flat 13, Manor Court, Thorpe Road, Staines-upon-thames, Surrey TW18 3HT	-	-	2	Flat
£360K	11/23	0.65 mi	Manor Court, Flat 21, Thorpe Road, Staines-upon-thames, Surrey TW18 3HT	£3,956	91	2	Flat
£230K	06/21	0.65 mi	Flat 14, Manor Court, Thorpe Road, Staines, Surrey TW18 3HT	-	-	2	Flat
£285K	03/21	0.65 mi	Flat 13, Manor Court, Thorpe Road, Staines, Surrey TW18 3HT	-	-	2	Flat
£425K	04/21	0.66 mi	Flat 56, Thames Edge Court, Clarence Street, Staines, Surrey TW18 4BU	-	-	2	Flat
£330K	04/21	0.7 mi	4, Old School Mews, Staines, Surrey TW18 3HX	£3,750	88	2	Flat
£265K	03/21	0.71 mi	142, Kingston Road, Staines, Surrey TW18 1BL	£3,732	71	2	Flat
£330K	02/23	0.72 mi	58, Sidney Road, Staines-upon-thames, Surrey TW18 4LX	-	-	2	Flat
£295K	03/23	0.8 mi	Flat 8, Heron Court, Leacroft Close, Staines-upon-thames, Surrey TW18 4NP	-	-	2	Flat
£270.5K	06/21	0.81 mi	20, Swallow Close, Staines, Surrey TW18 4RS	£5,304	51	2	Flat
£307.5K	09/21	0.83 mi	119, London Road, Staines-upon-thames, Surrey TW18 4HN	£6,029	51	2	Flat
£310K	03/21	0.83 mi	115, London Road, Staines, Surrey TW18 4HN	£5,741	54	2	Flat
£284K	09/21	0.83 mi	63, Waters Drive, Staines, Surrey TW18 4RT	£5,358	53	2	Flat
£289K	10/21	0.87 mi	31a, Brightside Avenue, Staines, Surrey TW18 1NE	£4,983	58	2	Flat
£260K	11/22	0.88 mi	12, Wraysbury Gardens, Staines-upon-thames, Surrey TW18 4US	-	-	2	Flat
£295K	05/23	0.9 mi	20, Lark Avenue, Staines-upon-thames, Surrey TW18 4RX	£5,175	57	2	Flat
£312.5K	12/22	0.92 mi	16, Lark Avenue, Staines-upon-thames, Surrey TW18 4RX	£5,896	53	2	Flat

Local Rents

28 rents from £1.3K/mo to £2.5K/mo, average is £1.6K/mo.

Rent	Date	Distance	Address	Beds	Type
£1,500	10/24	0.03 mi	-	2	Flat
£1,550	12/24	0.03 mi	-	2	Flat
£1,500	10/24	0.08 mi	Laleham Road, Staines-upon-Thames, Surrey, TW18	2	Flat
£1,600	10/24	0.09 mi	Staines, Surrey	2	Flat
£1,580	04/25	0.1 mi	-	2	Flat
£1,650	10/24	0.22 mi	-	2	Flat
£1,495	02/25	0.32 mi	-	2	Flat
£1,450	10/24	0.35 mi	Edgell Road, Staines-upon-Thames, Surrey, TW18	2	Terraced House
£1,700	11/24	0.36 mi	-	2	Flat
£1,500	04/25	0.36 mi	-	2	Flat
£2,000	10/24	0.39 mi	-	2	Flat
£2,500	12/24	0.39 mi	-	2	Flat
£1,695	12/24	0.4 mi	-	2	Flat
£1,695	02/25	0.44 mi	-	2	Flat
£1,600	10/24	0.45 mi	Laleham Road, Staines-upon-Thames, TW18	2	Flat
£1,800	10/24	0.48 mi	-	2	Flat
£1,800	10/24	0.48 mi	-	2	Flat
£1,800	10/24	0.48 mi	-	2	Flat
£1,495	10/24	0.48 mi	-	2	Flat
£1,700	10/24	0.54 mi	Chertsey Lane, Staines-upon-Thames, Surrey, TW18	2	Flat
£1,800	10/24	0.55 mi	Staines-upon-Thames, Surrey, TW18	2	Flat
£1,625	10/24	0.58 mi	Pullmans Place, Staines, Middlesex, TW18	2	Terraced House
£1,750	10/24	0.58 mi	Thames Street, Staines	2	Flat
£1,300	10/24	0.59 mi	Worple Road, Staines Upon Thames, TW18	2	Flat
£1,700	10/24	0.59 mi	-	2	Flat
£1,500	10/24	0.6 mi	St. James Court, 58-60 Kingston Road, Staines-upon-Thames, Surrey, TW18	2	Flat
£1,500	10/24	0.6 mi	Kingston Road, Staines, TW18	2	Flat
£1,250	10/24	0.62 mi	-	2	Flat

Local Area Statistics

Population in TW18	25,45825,458
Population in Staines	41,63841,638
Town centre distance	0.37 miles away0.37 miles away
Nearest school	0.20 miles away0.20 miles away
Nearest train station	0.53 miles away0.53 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+10%+10%
Sales demand	Buyer's marketBuyer's market
Capital growth (5yrs)	+7%+7%

Property History

Price changed to £280,000

December 26, 2024

Listed for £290,000

October 5, 2024

Floor Plans

Description

Leasehold - 939 years remaining +
Riverside apartment +
Two Bedrooms +
Stylish bathroom +
Large reception room +
Garage +
Spelthorne Borough Council +
Council Tax Band D - £2305 pa +
Ground rent £220 per annum +
Service charge £1900 per annum +

Presenting this charming river facing ground floor apartment located in a desirable residential area. Boasting two bedrooms, this property offers spacious and comfortable Riverside living.

The apartment features a spacious lounge area, a fully equipped kitchen, and a stylish bathroom with walk in shower.

Residents can enjoy the beautifully maintained communal gardens, perfect for relaxing or socialising outdoors, with direct access on to the River Thames tow path. The property is situated within close proximity to local amenities, schools, and transport links, making it an ideal choice for families or professionals.

With some light modernisation the property would let for £1500 per calendar month, offering a rental yield of 6.4% per annum.

Don't miss the opportunity to make this delightful apartment your new home. Contact us today to arrange a viewing and secure your place in this sought-after location.

The property is situated in a much sought after location, close to the town centre and railway station. Staines upon Thames is a prosperous riverside market town, with good rail links to London (Waterloo 30 minutes) and immediate access onto the motorway network via the M25 and M3. Heathrow Airport is a short distance away. With a vibrant pedestrianised High Street, boasting an extended range of shops and facilities, Staines upon Thames is popular with both buyers and renters alike.

Agent Details

Oasis Estate Agents, Staines-upon-Thames

01784 918983

Next Steps?

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

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