3 Bed Terraced House, Refurb/BRRR, Eastleigh, SO50 9BU, £250,000

George Street, Eastleigh, SO50 9BU - 4 views - 6 months ago

Sold STC
Refurb/BRRR
ROI: 3%
~93 m²
+8 photos

ValuationUndervalued

Sold Prices£200K - £390K
Sold Prices/m²£2.1K/m² - £4.8K/m²

 

 

Square Metres

~93 m²
Price/m²£2.7K/m²

Value Estimate

£257,500
BMV3%

 

 

End Value (After Refurb)

£268,454

Uplift in Value

+7%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£62,500

Stamp Duty & Legal Fees

£8,700

Refurb Costs

£42,055

Bridging Loan Interest

£6,563

Total Cash In

£121,567

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£268,454

Mortgage (After Refinance)

£201,340

Mortgage LTV

75%

Cash Released

£13,840

Cash Left In

£107,727

Equity

£67,113

Rent Range

£975 - £1,700

Rent Estimate

£1,427

Running Costs/mo

£1,144

Cashflow/mo

£283

Cashflow/yr

£3,392

ROI

3%

Gross Yield

7%

Local Sold Prices

50 sold prices from £200K to £390K, average is £280K. £2.1K/m² to £4.8K/m², average is £3K/m².

PriceDateDistanceAddressBeds 
£270K02/230.05 mi2, Newtown Road, Eastleigh, Hampshire SO50 9DB3
£280K08/230.06 mi16, Newtown Road, Eastleigh, Hampshire SO50 9BW3
£225K12/200.08 mi51, Newtown Road, Eastleigh, Hampshire SO50 9BY3
£250K01/230.08 mi11, Newtown Road, Eastleigh, Hampshire SO50 9DA3
£250K06/210.1 mi16, Northlands Road, Eastleigh, Hampshire SO50 9AX3
£268.4K03/210.15 mi13, Twyford Road, Eastleigh, Hampshire SO50 4HD3
£262.5K01/210.15 mi146, The Crescent, Eastleigh, Hampshire SO50 9BH3
£280K03/210.15 mi158, The Crescent, Eastleigh, Hampshire SO50 9BH3
£320K07/230.18 mi5, Toynbee Close, Eastleigh, Hampshire SO50 9EW3
£325K11/200.19 mi3, Romsey Close, Eastleigh, Hampshire SO50 9AP3
£374.5K06/210.21 mi4, Toynbee Road, Eastleigh, Hampshire SO50 9DP3
£360K01/230.21 mi45, Shakespeare Road, Eastleigh, Hampshire SO50 4FQ3
£325K04/210.22 mi52, Twyford Road, Eastleigh, Hampshire SO50 4HJ3
£325K01/210.22 mi9, Toynbee Road, Eastleigh, Hampshire SO50 9DH3
£270K10/210.26 mi43, Dutton Lane, Eastleigh, Hampshire SO50 6AA3
£351K06/210.26 mi53, Shakespeare Road, Eastleigh, Hampshire SO50 4FQ3
£320K01/230.26 mi7, Arthur Road, Eastleigh, Hampshire SO50 4FT3
£265K06/210.26 mi99, The Quadrangle, Eastleigh, Hampshire SO50 4FX3
£320K07/230.26 mi79, The Quadrangle, Eastleigh, Hampshire SO50 4FX3
£287.5K04/230.27 mi76, Dutton Lane, Eastleigh, Hampshire SO50 6AB3
£295K02/230.27 mi38, Dutton Lane, Eastleigh, Hampshire SO50 6AB3
£255K05/230.27 mi20, Dutton Lane, Eastleigh, Hampshire SO50 6AB3
£350K07/230.28 mi2, Arthur Road, Eastleigh, Hampshire SO50 4FU3
£300K06/210.32 mi39, Cranbury Road, Eastleigh, Hampshire SO50 5HB3
£234K06/230.32 mi57, Cranbury Road, Eastleigh, Hampshire SO50 5HB3
£250K09/210.32 mi133, Twyford Road, Eastleigh, Hampshire SO50 4HL3
£245K09/210.32 mi111, Twyford Road, Eastleigh, Hampshire SO50 4HL3
£285K08/230.34 mi13, Chamberlayne Road, Eastleigh, Hampshire SO50 5JN3
£331K11/210.34 mi71, Causton Gardens, Eastleigh, Hampshire SO50 9PJ3
£385K04/230.34 mi74, Causton Gardens, Eastleigh, Hampshire SO50 9PJ3
£351.5K11/210.35 mi2, St Lawrence Road, Eastleigh, Hampshire SO50 4GB3
£277.5K03/210.35 mi31, Nutbeem Road, Eastleigh, Hampshire SO50 5JP3
£285K01/210.35 mi11, Nutbeem Road, Eastleigh, Hampshire SO50 5JP3
£215.1K03/210.37 mi4, Nutbeem Road, Eastleigh, Hampshire SO50 5JQ3
£290K05/230.37 mi8, Nutbeem Road, Eastleigh, Hampshire SO50 5JQ3
£390K09/210.38 mi24, Ruskin Road, Eastleigh, Hampshire SO50 4JS3
£331K09/210.38 mi29, Brookwood Avenue, Eastleigh, Hampshire SO50 9PH3
£278K03/210.38 mi29, Brookwood Avenue, Eastleigh, Hampshire SO50 9PH3
£253K07/210.38 mi71, Desborough Road, Eastleigh, Hampshire SO50 5NT3
£200K10/200.39 mi80, Desborough Road, Eastleigh, Hampshire SO50 5NS3
£280K04/210.39 mi99, Cranbury Road, Eastleigh, Hampshire SO50 5HE3
£265K10/210.41 mi20, Sopwith Road, Eastleigh, Hampshire SO50 5SR3
£325K08/230.41 mi77, Chamberlayne Road, Eastleigh, Hampshire SO50 5JJ3
£319K08/210.41 mi53, Whyteways, Boyatt Wood, Eastleigh, Hampshire SO50 4NQ3
£300K05/230.42 mi28, Winston Close, Eastleigh, Hampshire SO50 4NS3
£280K08/210.43 mi97, Nutbeem Road, Eastleigh, Hampshire SO50 5JR3
£280K08/210.44 mi97, Nutbeem Road, Eastleigh, Hampshire SO50 5JR3
£255K06/230.44 mi71, Nutbeem Road, Eastleigh, Hampshire SO50 5JR3
£262.5K03/210.44 mi83, Nutbeem Road, Eastleigh, Hampshire SO50 5JR3
£270K11/200.44 mi124, Cranbury Road, Eastleigh, Hampshire SO50 5HG3

Local Rents

37 rents from £975/mo to £1.7K/mo, average is £1.4K/mo.

RentDateDistanceAddressBeds 
£1,60009/240 miGeorge Street, EASTLEIGH3
£1,42509/240.03 miGeorge Street, Eastleigh SO50 9BT3
£1,47512/240.06 miNewtown Road, EASTLEIGH3
£1,35009/240.08 mi-3
£1,30012/240.08 miNewtown Road, Eastleigh3
£1,45002/240.09 mi-3
£1,45002/240.09 mi-3
£1,39502/240.09 mi-3
£1,49501/250.09 mi-3
£1,05012/240.11 mi112 The Crescent, Eastleigh, SO503
£1,50001/250.16 mi-3
£1,70009/240.19 miArchers Road, Eastleigh3
£1,40009/240.23 miTwyford Road, Eastleigh3
£1,60012/240.23 miAshton Gardens, Eastleigh, Hampshire, SO503
£1,40012/240.25 miHawkins Way SILVER SUB, Eastleigh, Hampshire, SO503
£97509/240.33 miCauston Gardens, Eastleigh3
£1,35009/240.37 miBarton Road, Eastleigh3
£1,55003/250.39 mi-3
£1,35009/240.42 miEastleigh3
£1,35011/240.43 mi-3
£1,50012/240.43 miWhyteways, Eastleigh, SO503
£1,45012/240.43 miEastleigh3
£1,55012/240.45 miBenny Hill Close SILVER SUB, Eastleigh, Hampshire, SO503
£1,40012/240.47 miDrum Road, Eastleigh, Hampshire, SO503
£1,30009/240.47 mi-3
£1,39509/240.49 mi-3
£1,45002/250.49 mi-3
£1,35012/240.5 miDrum Road, Eastleigh3
£1,60002/250.52 mi-3
£1,65009/240.52 miGreat Farm Road, Eastleigh, Hampshire, SO503
£1,50012/240.53 mi-3
£1,45009/240.53 mi-3
£1,55012/240.54 mi-3
£1,40012/240.56 miConsort Road, Eastleigh3
£1,45012/240.58 mi-3
£1,35009/240.62 miEastleigh3
£1,45012/240.62 miHaddon Drive, Boyatt Wood3

Local Area Statistics

Population in SO50

46,318

Population in Eastleigh

78,741

Town centre distance

0.31 miles away

Nearest school

0.10 miles away

Nearest train station

0.24 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+1%

Sales demand

Balanced market

Capital growth (5yrs)

+12%

Property History

Listed for £250,000

October 25, 2024

Floor Plans

Description

  • Three Bedrooms +
  • Spacious Family Home +
  • Downstairs Wet Room +
  • Modern Kitchen +
  • 13ft Lounge +
  • Property Requires Some Modernisation +
  • Ideal For First Time Buyers Or Investors +
  • Central Location Close To Amenities & Mainline Train Station +
  • Internal Viewing Essential +
  • No Forward Chain +

Stanford Estate Agents are delighted to offer this three bedroom mid-terrace family home located in a requested and convenient location in Eastleigh, close to the mainline train station and amenities. The property is spacious throughout and although does require some modernisation in areas it also provides the perfect opportunity to make this home your own. An internal viewing is highly recommended.

Accommodation on the ground floor consists of a 13ft lounge with sash bay window to the front aspect, a 14ft dining room and a downstairs wet room, comprising of a walk in shower, pedestal wash hand basin and low level WC, The kitchen is overlooking the garden and is fitted with wall and base level units, built in oven and hob with extractor over, space for a fridge/freezer and washing machine, wall mounted boiler. There is access to the garden via the lean to at the side of the property. The first floor houses all three bedrooms and an upstairs cloakroom/WC.

Externally the front garden is shingled with a mature hedge and pathway leading to the front door. The rear garden is enclosed by wood panel fencing and complimented by mature trees and shrubs, a lawned area and rear access via a wooden gate.

The seller has provided the following lease information, however, this information should be clarified by a conveyancer/legal advisor before completing a purchase. Absentee freeholder, Solicitors can look into buying freehold

Original Lease: 999 years from 1886
Lease Remaining: 861 years
Pepper Corn ground Rent: £5 Per Annum

Further Information:
Local Council: Eastleigh Borough Council
Council Tax Band: B
EPC Rating: D
Local Primary School: The Crescent Primary School
Local Secondary School: The Toynbee School
Windows: Double Glazed
Heating: Electric
Parking: On Street Parking
Sellers Position: No Forward Chain
Viewing: By Appointment Only

Local Information:
Eastleigh is a thriving town in Hampshire, located between Southampton & Winchester. The town lies on the river Itchen, originally a village till early 19th century when it was developed to a railway town. Those railway town roots are still firmly imprinted with two mainline train stations providing trains to Winchester in 20 minutes and London Waterloo in an hour. Those looking for commuter links that are not rail are truly spoilt too with junctions to the M27 & M3 Either end of the town, and how could we forget Southampton Airport minutes away for some domestic and European trips. Eastleigh is a commuters dream! The town itself has an array of amenities including several supermarkets as well as several boutique and independent shops. Residential homes come in all shapes, sizes and age from 1800s thatched cottages to 1900 Victorian terraces to modern, well thought out developments there is a home in Eastleigh for everyone. Places leisure and Lakeside Country Park are favoured by locals for there greenery, open spaces and walks with the latter having a small passenger steam train paying further homage to the roots that the town was founded.

Agent Details

Stanford Estate Agents, Eastleigh

0238 202 6479

Next Steps?

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