3 Bed Detached House, Refurb/BRRR, Salisbury, SP1 3QW, £315,000

2 Downsway, Salisbury, Wiltshire, SP1 3QW - 7 months ago

Sold STC
Refurb/BRRR
~84 m²
+8 photos

ValuationFair Value

Sold Prices£242.5K - £610K
Sold Prices/m²£2.9K/m² - £6K/m²

 

 

Square Metres

~84.30 m²
Price/m²£3.7K/m²

Value Estimate

£309,616

 

 

End Value (After Refurb)

£316,092

Uplift in Value

+0%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£78,750

Stamp Duty & Legal Fees

£20,200

Refurb Costs

£34,175

Bridging Loan Interest

£8,269

Total Cash In

£143,143

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£316,092

Mortgage (After Refinance)

£237,069

Mortgage LTV

75%

Cash Released

£819

Cash Left In

£142,324

Equity

£79,023

Rent Range

£799 - £1,800

Rent Estimate

£1,326

Running Costs/mo

£1,273

Cashflow/mo

£53

Cashflow/yr

£636

ROI

0%

Gross Yield

5%

Local Sold Prices

50 sold prices from £242.5K to £610K, average is £356.3K. £2.9K/m² to £6K/m², average is £3.9K/m².

PriceDateDistanceAddressBeds 
£330K06/210.11 mi25, Downsway, Salisbury, Wiltshire SP1 3QL3
£285K12/200.11 mi39, Downsway, Salisbury, Wiltshire SP1 3QL3
£326K05/210.13 mi58, Downsway, Salisbury, Wiltshire SP1 3QW3
£362.5K01/230.13 mi60, Downsway, Salisbury, Wiltshire SP1 3QW3
£500K12/220.14 mi58, Thistlebarrow Road, Salisbury, Wiltshire SP1 3RS3
£360K10/220.15 mi86, Downsway, Salisbury, Wiltshire SP1 3QW3
£430K09/230.18 mi59, Sunnyhill Road, Salisbury, Wiltshire SP1 3QJ3
£390K11/210.18 mi54, Sunnyhill Road, Salisbury, Wiltshire SP1 3QJ3
£369K03/210.18 mi7, Balmoral Road, Salisbury, Wiltshire SP1 3PU3
£338K01/210.2 mi22, Anderson Road, Salisbury, Wiltshire SP1 3DX3
£460K11/200.2 mi44, Thistlebarrow Road, Salisbury, Wiltshire SP1 3RT3
£350K01/210.2 mi17, Thistlebarrow Road, Salisbury, Wiltshire SP1 3RT3
£270K04/210.22 mi34, Bishopdown Road, Salisbury, Wiltshire SP1 3DR3
£470K07/230.23 mi6, Sunnyhill Road, Salisbury, Wiltshire SP1 3QH3
£433.5K02/230.23 mi19, Sunnyhill Road, Salisbury, Wiltshire SP1 3QH3
£260K08/210.24 mi43, Denison Rise, Salisbury, Wiltshire SP1 3EW3
£242.5K02/230.24 mi67, Denison Rise, Salisbury, Wiltshire SP1 3EW3
£445K11/220.25 mi34, Beatrice Road, Salisbury, Wiltshire SP1 3PW3
£425K03/210.25 mi37, St Francis Road, Salisbury, Wiltshire SP1 3QP3
£415K05/230.25 mi25, St Francis Road, Salisbury, Wiltshire SP1 3QP3
£496K03/210.27 mi2, Feversham Road, Salisbury, Wiltshire SP1 3PP3
£400K11/220.27 mi23, Pauls Dene Crescent, Salisbury, Wiltshire SP1 3QU3
£328K11/200.27 mi14, Pauls Dene Crescent, Salisbury, Wiltshire SP1 3QU3
£280K06/210.28 mi8, Bingham Road, Salisbury, Wiltshire SP1 3DY3
£350K06/210.3 mi43, Pauls Dene Crescent, Salisbury, Wiltshire SP1 3QX3
£318K03/210.3 mi28, Pauls Dene Crescent, Salisbury, Wiltshire SP1 3QX3
£245K10/210.3 mi15, Burgess Green, Salisbury, Wiltshire SP1 3EL3
£387K10/220.31 mi14, Assisi Road, Salisbury, Wiltshire SP1 3QZ3
£260K04/210.31 mi15, Linkway, Bishopdown, Salisbury, Wiltshire SP1 3EP3
£399.9K04/210.32 mi15, Dorset Road, Salisbury, Wiltshire SP1 3BP3
£305K03/210.34 mi19, Queensberry Road, Salisbury, Wiltshire SP1 3PH3
£285K10/200.34 mi135, Castle Road, Salisbury, Wiltshire SP1 3RR3
£330K06/210.34 mi80, Castle Road, Salisbury, Wiltshire SP1 3RX3
£315K07/230.34 mi12, The Oakbournes, Bishopdown, Salisbury, Wiltshire SP1 3FZ3
£361.5K09/210.35 mi42, Queensberry Road, Salisbury, Wiltshire SP1 3PJ3
£350K12/200.35 mi42, Queensberry Road, Salisbury, Wiltshire SP1 3PJ3
£610K11/220.37 mi88, St Marks Avenue, Salisbury, Wiltshire SP1 3DW3
£520K02/210.37 mi37, Somerset Road, Salisbury, Wiltshire SP1 3BN3
£477.5K06/210.38 mi41, Cornwall Road, Salisbury, Wiltshire SP1 3NH3
£352K11/210.38 mi237, Castle Road, Salisbury, Wiltshire SP1 3RY3
£412.5K02/230.4 mi239, Castle Road, Salisbury, Wiltshire SP1 3RY3
£265K01/210.43 mi87, Bingham Road, Salisbury, Wiltshire SP1 3EB3
£250K05/230.45 mi31, Lovett Green, Salisbury, Wiltshire SP1 3HZ3
£390K04/210.45 mi156, Castle Road, Salisbury, Wiltshire SP1 3SA3
£450K06/210.45 mi49, Hilltop Way, Salisbury, Wiltshire SP1 3QY3
£286K07/230.45 mi2, Waters Road, Salisbury, Wiltshire SP1 3NX3
£352.5K05/210.46 mi5, Sharratt Avenue, Bishopdown, Salisbury, Wiltshire SP1 3GT3
£377K03/210.46 mi7, Sharratt Avenue, Bishopdown, Salisbury, Wiltshire SP1 3GT3
£515K11/220.46 mi49, Hilltop Way, Salisbury, Wiltshire SP1 3QY3
£350K03/210.46 mi54, Apostle Way, Bishopdown, Salisbury, Wiltshire SP1 3GS3

Local Rents

22 rents from £799/mo to £1.8K/mo, average is £1.3K/mo.

RentDateDistanceAddressBeds 
£1,48007/240.49 mi-3
£79912/240.54 mi-3
£1,05010/230.56 mi-3
£1,50009/240.6 miVictoria Road3
£1,45009/240.6 miCastle Road, Salisbury3
£1,30002/240.64 mi-3
£1,25009/240.66 miSALISBURY - Atherton Court3
£1,29504/250.72 mi-3
£1,35009/240.72 miSALISBURY - Wyndham Terrace3
£1,40009/240.88 miBelle Vue Road, Salisbury3
£1,20009/240.93 mi-3
£1,20009/240.93 mi-3
£1,30011/240.96 mi-3
£1,40009/241 miKingsland Road Salisbury SP23
£1,35002/251.02 mi-3
£1,10009/241.06 miDevizes Road, Salisbury3
£1,30009/241.11 miPennyfarthing Street, Salisbury, SP13
£1,40009/241.11 miSteynings House, Chapel Place, Salisbury, Wiltshire, SP23
£1,35004/251.12 mi-3
£1,70009/241.15 miDevizes Road, Salisbury3
£1,05001/241.17 mi-3
£1,80001/241.18 mi-3

Local Area Statistics

Population in SP1

21,621

Population in Salisbury

93,605

Town centre distance

1.29 miles away

Nearest school

0.20 miles away

Nearest train station

1.22 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

+49%

Sales demand

Seller's market

Capital growth (5yrs)

+9%

Property History

Listed for £315,000

October 8, 2024

Floor Plans

Description

  • DETACHED BUNGALOW +
  • IN NEED OF UPDATING +
  • THREE BEDROOMS +
  • SITTING ROOM +
  • KITCHEN/BREAKFAST ROOM +
  • SHOWER ROOM +
  • PVCu DG AND ELECTRIC HEATING +
  • GARAGE AND OFF ROAD PARKING +
  • POPULAR LOCATION +
  • NO CHAIN +

A detached bungalow in a popular location. The property sits centrally in a generous plot with a detached garage and a driveway providing off road parking for a car. Further benefits include PVCu double glazing, electric heating and the property has recently had a new roof.

Description - The property is a detached three bedroom bungalow which is in need of updating and is offered to the market with no onward chain. The accommodation comprises an entrance lobby and hallway, a sitting room with patio doors leading on to the rear garden and a kitchen/breakfast room which accesses a utility/shower room and separate WC. There are three good size bedrooms, two with fitted wardrobes and a shower room. The property sits centrally in a generous plot with a detached garage and a driveway providing off road parking for a car. Further benefits include PVCu double glazing, electric heating and the property has recently had a new roof. Downsway lies upon the popular Pauls Dene Estate which has a regular bus service to the city centre which lies approximately 1.5 miles away. There is also a useful convenience store on the nearby Castle Road. Further nearby amenities include a girls' grammar school and a popular primary school (St Marks). Salisbury itself has an excellent range of amenities including a mainline railway station serving London Waterloo.

Property Specifics - The accommodation is arranged as follows, all measurements being approximate:

Entrance Lobby - Part glazed front door and door to;

Entrance Hall - Loft access, electric heater, airing cupboard housing hot water tank and immersion.

Sitting Room - 4.69m x 3.47m (15'4" x 11'4") - Patio doors to rear, night storage heater, tiled fireplace and hearth, picture rail, TV point.

Kitchen/Breakfast Room - 3.48m x 3.17m (11'5" x 10'4") - Base and wall units, sink and drainer under window to side, electric heater, cupboard housing fusebox and meter, window and door to;

Utility/Shower Room - 2.71m x 1.92m (8'10" x 6'3") - Window to rear and door to side, shower cubicle, space/plumbing for washing machine, electric heater, door to;

Separate Wc - Fitted with a low level WC, window to side.

Bedroom One - 4.07m x 3.62m (13'4" x 11'10") - Windows to front and side, night storage heater, mirror fronted fitted wardrobe.

Bedroom Two - 3.46m max x 3.18m (11'4" max x 10'5") - Window to front, fitted wardrobe, electric heater.

Bedroom Three - 3.48m x 2.09m (11'5" x 6'10") - Window to rear.

Shower Room - Fitted with a white suite comprising shower cubicle, pedestal wash hand basin, low level WC, part tiled walls, obscure glazed window to side.

Outside - To the front of the property is a lawned garden with flower borders and a path to the front door. There is side access in to the rear garden which is mainly paved with a greenhouse and timber shed. There is a gate to a driveway providing off road parking for one car in front of a detached single garage.

Services - Mains water, electricity and drainage are connected to the property.

Outgoings - The Council Tax Band is ‘ E ’ and the payment for the year 2024/2025 payable to Wiltshire Council is £3087.26.

Directions - Leave Salisbury via Castle Road and turn right in to Queensberry Road opposite Victoria Park. Take the first left in to Radnor Road and the first right in to Attwood Road. Follow the road around to the left taking the next right in to Balmoral Road. Contine to the unmarked crossroads and turn right in to Downsway and the property can be found immediately on the right hand side.

What3words - What3Words reference is: ///melts.moguls.fully

Agent Details

Whites, Salisbury

01722 444869

Next Steps?

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