2 Bed Flat, Single Let, Southampton, SO15 2HQ, £125,000

Polygon, Southampton, SO15 2HQ - 4 views - 6 months ago

Sold STC
Leasehold
BTL
ROI: 11%
~68 m²
+3 photos

ValuationUndervalued

Sold Prices£85K - £250K
Sold Prices/m²£1.5K/m² - £3.8K/m²

 

 

Square Metres

~68.11 m²
Price/m²£1.8K/m²

Value Estimate

£155,000
BMV24%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£31,250

Stamp Duty & Legal Fees

£4,950

Total Cash In

£36,200

 

 

Cash Out

 

Rent Range

£945 - £1,700

Rent Estimate

£945

Running Costs/mo

£600

Cashflow/mo

£345

Cashflow/yr

£4,145

ROI

11%

Gross Yield

9%

Local Sold Prices

50 sold prices from £85K to £250K, average is £175.3K. £1.5K/m² to £3.8K/m², average is £2.8K/m².

PriceDateDistanceAddressBeds 
£218K02/230.07 mi16, James Weld Close, Southampton SO15 2SW2
£192K11/210.08 mi36, James Weld Close, Southampton SO15 2SW2
£195K10/210.08 mi43, James Weld Close, Southampton SO15 2SW2
£153K12/200.2 miFlat 4, Banister Court, Court Road, Southampton SO15 2JS2
£170K03/230.21 miFlat 32, Chadwick Lodge, Devonshire Road, Southampton SO15 2QQ2
£190K03/210.21 miFlat 32, Chadwick Lodge, Devonshire Road, Southampton SO15 2QQ2
£197.5K09/230.22 mi5, Kenilworth Road, Southampton SO15 2GD2
£250K03/230.25 miFlat 35, Osborne House, Grosvenor Square, Southampton SO15 2DA2
£210K04/230.31 mi5, Padwell Road, Southampton SO14 6QY2
£202K12/200.32 mi12, Moore Close, Southampton SO15 2RS2
£190K06/230.34 miFlat 17, Dorval House, Silverdale Road, Southampton SO15 2NH2
£173.5K06/210.34 mi94 Stokes Court, The Dell, Southampton SO15 2PR2
£177.5K01/230.36 miFlat 5, Grenville Court, Silverdale Road, Southampton SO15 2TD2
£104K04/210.4 mi6a, Cranbury Avenue, Southampton SO14 0LQ2
£210K06/230.41 mi2, Arlott Court, Southampton SO15 2RZ2
£197K08/230.41 mi30, Arlott Court, Southampton SO15 2RZ2
£230K07/230.42 mi48, Rollesbrook Gardens, Southampton SO15 5WB2
£219K08/210.42 mi58, Rollesbrook Gardens, Southampton SO15 5WB2
£197K04/210.44 mi104, Rollesbrook Gardens, Southampton SO15 5WD2
£183.5K12/200.5 miFlat 34, Queens Court, Hill Lane, Southampton SO15 5RR2
£180K09/210.51 miFlat 7, Shelley Court, Hill Lane, Southampton SO15 5SN2
£130K02/210.51 miFlat 20, Shelley Court, Hill Lane, Southampton SO15 5SN2
£85K02/230.52 miFlat 99, Wyndham Court, Commercial Road, Southampton SO15 1GT2
£95K06/210.52 miFlat 99, Wyndham Court, Commercial Road, Southampton SO15 1GT2
£117K03/210.53 miFlat 83, Wyndham Court, Commercial Road, Southampton SO15 1GT2
£119K12/200.53 miFlat 161, Wyndham Court, Commercial Road, Southampton SO15 1GU2
£118.5K12/200.54 mi51a, Alfred Street, Southampton SO14 0NB2
£178.5K04/230.56 miFlat 6, Buckingham Court, Westwood Road, Southampton SO17 1HD2
£150K03/210.56 miFlat 12, Buckingham Court, Westwood Road, Southampton SO17 1HD2
£160K08/230.58 mi8a, Rigby Road, Southampton SO17 2EU2
£177K02/210.6 mi16, Arthur Road, Southampton SO15 5DY2
£150K09/210.6 miFlat 8, Ascupart House, Portswood Road, Southampton SO17 2US2
£150K05/230.6 miFlat 11, Ascupart House, Portswood Road, Southampton SO17 2US2
£142K04/230.6 miFlat 4, Ascupart House, Portswood Road, Southampton SO17 2US2
£160K02/230.62 miFlat 1, Ascupart House, Portswood Road, Southampton SO17 2US2
£245K06/210.64 mi65a, Shirley Road, Southampton SO15 3EZ2
£245K06/210.64 mi65a, Shirley Road, Southampton SO15 3EZ2
£150K06/230.64 mi99a, Shirley Road, Southampton SO15 3FE2
£178K11/210.64 mi33a, Norfolk Road, Southampton SO15 5AT2
£142K11/210.64 miFlat 6, Lewis House, North Front, Southampton SO14 1LH2
£152K05/210.65 miFlat 32, Kingsland House, North Front, Southampton SO14 1LJ2
£190K07/210.66 miFlat 6, Westwood Court, Westwood Road, Southampton SO17 1UX2
£227.5K09/210.66 miFlat 2, Westwood Court, Westwood Road, Southampton SO17 1UX2
£210K07/210.66 miFlat 5, Westwood Court, Westwood Road, Southampton SO17 1UX2
£163.5K04/230.67 miFlat 4, Bloomsbury Court, Charlton Road, Shirley, Southampton SO15 5FN2
£152K03/210.68 miFlat 7, Droffats House, Stafford Road, Southampton SO15 5RS2
£142.5K11/200.71 mi5b, Waterloo Road, Southampton SO15 3AQ2
£142.5K11/200.72 mi5b, Waterloo Road, Southampton SO15 3AQ2
£120K04/210.72 mi185, Golden Grove, Southampton SO14 1TD2
£138K07/210.76 mi36, Shakespeare Avenue, Southampton SO17 2HB2

Local Rents

51 rents from £945/mo to £1.7K/mo, average is £1.2K/mo.

RentDateDistanceAddressBeds 
£1,30009/240.05 miJames Weld Close, SOUTHAMPTON2
£1,20009/240.08 miCarlton Crescent, SOUTHAMPTON2
£1,30009/240.08 miCarlton Crescent, SOUTHAMPTON2
£1,35009/240.08 miRockstone Place, Central2
£1,20004/250.08 mi-2
£1,30009/240.08 miJames Weld Close, SOUTHAMPTON2
£1,35009/240.09 miJames Weld Close, Southampton2
£1,37509/240.1 mi-2
£1,20009/240.11 miThe Dell, Southampton, SO152
£1,35010/240.11 mi-2
£1,20009/240.11 miWilton Avenue, Southampton2
£1,20009/240.11 miWilton Avenue, Southampton2
£1,40009/240.11 miBanister Park2
£1,20009/240.12 miLocksley Court, 24-26 Archers Road, Southampton, Hampshire, SO152
£1,30009/240.12 miBedford Place, SOUTHAMPTON2
£1,20009/240.13 miArchers Road, SOUTHAMPTON2
£1,30009/240.13 miArchers Road, SOUTHAMPTON2
£1,70009/240.14 mi-2
£1,40009/240.14 mi-2
£1,40009/240.14 miCromwell Road, Southampton, SO152
£1,18509/240.15 miBanister Gate, 19 Archers Road, Southampton, SO152
£1,30009/240.15 miBanister Gate, Archers Road, Southampton2
£1,20009/240.15 miBanister Grange, Banister Road, SOUTHAMPTON2
£99509/240.17 mi|Ref: R153201|, Winchester Street, Southampton, SO15 2ER2
£94509/240.17 mi|Ref: R153203|, Winchester Street. Southampton, SO15 2ER2
£94509/240.17 mi|Ref: R153202|, Winchester Street, Southampton, SO15 2ER 2
£99509/240.17 mi|Ref: R153204|, Winchester Street, Southampton, SO15 2ER2
£94509/240.17 mi|Ref: R153205|, Winchester Street, Southampton, SO5 2ER2
£1,30004/250.18 mi-2
£1,19512/240.18 mi-2
£1,19512/240.18 mi-2
£1,19501/250.18 mi-2
£1,40004/250.19 mi-2
£1,40004/250.2 mi-2
£1,19512/240.2 mi-2
£1,19512/240.2 mi-2
£1,05009/240.2 miWilton Avenue, Southampton2
£1,25609/240.21 mi|Ref: R152636|, Fitzhugh House, Milton Road, Southampton, SO15 2HY2
£1,25009/240.21 miFlat 6, Kisar Court, Salisbury Street, Southampton2
£1,25009/240.21 miFlat 8, Kisar Court, Salisbury Street, Southampton2
£1,00009/240.22 miKenilworth Road, Polygon2
£1,15009/240.22 miBedford Place2
£1,35009/240.22 mi-2
£1,35009/240.22 miWilton Avenue, Southampton, SO152
£1,10009/240.23 miSalisbury Street, Southampton2
£1,10009/240.23 miSalisbury Street, Southampton, Hampshire, SO152
£1,39509/240.23 mi|Ref: R203909|, Hulse Road, Southampton, SO15 2QZ2
£1,39509/240.24 miHulse Road, SOUTHAMPTON2
£1,15009/240.24 miHulse Road. Banister Park2
£1,29509/240.24 miBedford Place2
£1,10009/240.24 miPadwell Road, Portswood, Southampton, SO142

Local Area Statistics

Population in SO15

41,701

Population in Southampton

428,247

Town centre distance

0.71 miles away

Nearest school

0.20 miles away

Nearest train station

0.62 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

-20%

Sales demand

Balanced market

Capital growth (5yrs)

+15%

Property History

Listed for £125,000

October 10, 2024

Floor Plans

Description

  • Two Bedroom Ground Floor Flat +
  • No Forward Chain +
  • New 125 Year Lease +
  • Sole Use of the Rear Garden +
  • In Need of Refurbishment +
  • Located Within Walking Distance to Southampton City Centre +

Offered for sale with no forward chain is this two bedroom ground floor flat situated within the Polygon area of Southampton. In need of refurbishment, the accomodation comprises a living room, separate kitchen, two bedrooms and family bathroom. The flat also has sole use of the rear garden. Further benefits include a new 125 year lease and gas central heating.

HALL:
Wooden flooring. Access to all rooms. Storage cupboard. Door to garden. Radiator.

LIVING ROOM:
Wooden flooring. Bay window to front aspect. Radiator.

KITCHEN:
Laminate flooring. Matching wall and base units with tiled splashback. Inset stainless steel sink with drainer. Space for appliances. Wall mounted combination boiler. Window to rear aspect. Radiator.

BEDROOM** ONE**:
Concrete flooring. Window to rear aspect. Radiator.

BEDROOM TWO:
Wooden flooring. Window to side aspect. Radiator.

BATHROOM:
Laminate flooring. Partially tiled walls. Panel enclosed bath. Low level W.C and wash basin. Obscure window to side aspect. Radiator.

OUTSIDE:
Use of rear garden.

TENURE:
Leasehold. The property will be issued with a new 125 year lease.
Service Charge: £659.17 Per Annum.
As per the Leasehold Reform (Ground Rent) Act 2022, no Ground Rent is payable.

COUNCIL TAX:
Southampton City Council
BAND:      B
CHARGE: £1,677.66
YEAR:      2024/25

Agent Details

Pearsons, Southampton

0238 023 3288

Next Steps?

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