3 Bed Semi-Detached House, Refurb/BRRR, Ross-on-Wye, HR9 5JN, £275,000

2 The Gresleys, Ross-on-wye, Herefordshire, HR9 5JN - 2 views - 6 months ago

Sold STC
Refurb/BRRR
~93 m²
+10 photos

ValuationOvervalued

Sold Prices£160K - £475K
Sold Prices/m²£2K/m² - £7.1K/m²

 

 

Square Metres

~93 m²
Price/m²£3K/m²

Value Estimate

£268,237

 

 

End Value (After Refurb)

£282,874

Uplift in Value

+-6%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£68,750

Stamp Duty & Legal Fees

£12,700

Refurb Costs

£37,686

Bridging Loan Interest

£7,219

Total Cash In

£128,104

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£282,874

Mortgage (After Refinance)

£212,155

Mortgage LTV

75%

Cash Released

£5,905

Cash Left In

£122,199

Equity

£70,718

Rent Range

£421 - £3,500

Rent Estimate

£1,011

Running Costs/mo

£1,106

Cashflow/mo

£-95

Cashflow/yr

£-1,142

Gross Yield

4%

Local Sold Prices

20 sold prices from £160K to £475K, average is £278.5K. £2K/m² to £7.1K/m², average is £3.1K/m².

PriceDateDistanceAddressBeds 
£475K02/240.08 miAlton Gate, Penyard Lane, Ross-on-wye, Herefordshire HR9 5NR3
£285K01/240.15 mi14, Waterside, Ross-on-wye, Herefordshire HR9 5LN3
£272K09/230.19 mi3, Park Walk, Ross-on-wye, Herefordshire HR9 5LW3
£430K02/240.27 mi24, Gloucester Road, Ross-on-wye, Herefordshire HR9 5LQ3
£230K01/240.35 mi12, Grammar School Close, Ross-on-wye, Herefordshire HR9 7QD3
£290K06/240.48 mi81, Duxmere Drive, Ross-on-wye, Herefordshire HR9 5UP3
£300K04/240.51 mi9, The Roslins, Ross-on-wye, Herefordshire HR9 5XA3
£410K05/240.56 mi3, Harefields, Hildersley, Ross-on-wye, Herefordshire HR9 7NL3
£250K05/240.56 mi1, Falaise Close, Ross-on-wye, Herefordshire HR9 5UT3
£240K08/230.57 mi1, Chapel Road, Ross-on-wye, Herefordshire HR9 5PR3
£420K02/240.57 mi10, The Shrubbery, Ross-on-wye, Herefordshire HR9 5BE3
£260K05/240.62 mi10, Duxmere Drive, Ross-on-wye, Herefordshire HR9 5UN3
£270K03/240.64 miThe Graig, Brookfield Road, Ross-on-wye, Herefordshire HR9 7EL3
£245K07/240.82 mi1, Laburnum Close, Ross-on-wye, Herefordshire HR9 5UB3
£227.5K11/230.84 mi29, Three Crosses Road, Ross-on-wye, Herefordshire HR9 7HB3
£375K02/240.88 mi19, Chatsworth Close, Ross-on-wye, Herefordshire HR9 7XH3
£160K03/240.88 mi71, Verschoyle Gardens, Ross-on-wye, Herefordshire HR9 7HH3
£310K09/230.91 mi19, Sandringham Close, Ross-on-wye, Herefordshire HR9 7XN3
£308K08/240.92 mi12, Swallow Road, Ross-on-wye, Herefordshire HR9 7WS3
£250K10/230.94 mi11, Mayhill Road, Ross-on-wye, Herefordshire HR9 7EU3

Local Rents

48 rents from £421/mo to £3.5K/mo, average is £850/mo.

RentDateDistanceAddressBeds 
£57509/240.33 miCopse Cross Street1
£85003/250.34 mi-2
£59509/240.34 miCopse Cross Street1
£1,10011/240.34 mi-3
£72509/240.35 miHenry Street, Ross-On-Wye, Herefordshire, HR92
£92509/240.35 miCasson Place, Henry Street, Ross-On-Wye, Herefordshire, HR93
£1,05009/240.35 mi4B Henry Street, Ross-on-Wye3
£42106/230.36 mi-2
£85011/240.38 mi-2
£85006/240.4 mi-2
£85006/240.4 mi-2
£97504/240.41 mi-2
£1,25004/250.41 mi-2
£79503/250.41 mi-1
£77503/240.41 mi-2
£75001/250.42 mi-1
£65006/230.42 mi-1
£75012/240.42 mi-1
£60006/230.42 mi-1
£85002/250.44 mi-2
£49509/240.48 miFlat 22 Palma Court, Brookend Street, Ross-on-Wye1
£75009/240.48 miPalma Court, Brookend Street, Ross-on-Wye2
£65009/240.5 miWye Street, Ross-On-Wye1
£75009/240.52 miSwan Court, Edde Cross Street, Ross-On-Wye, Herefordshire, HR92
£75009/240.52 miSwan Court, Edde Cross Street, Ross-On-Wye, Herefordshire, HR92
£87509/240.52 miSwan House, Edde Cross Street, Ross-on-Wye, Herefordshire, HR92
£75009/240.57 miOver Ross Street, Ross-On-Wye2
£1,02509/240.69 miBrampton Close, Ross-on-Wye2
£46703/250.74 mi-1
£1,29509/240.77 miOld Tannery Way, Ross-on-Wye, Herefordshire, HR94
£83009/240.8 miPrimrose Close, Ross-on-Wye, HR92
£1,29509/240.83 miSycamore Close, Ross-on-Wye, Herefordshire, HR94
£1,39508/240.83 mi-4
£44804/250.88 mi-2
£49003/250.94 mi-1
£55009/240.99 miFlat , Wilton Post Office, Wilton, Ross-on-Wye1
£1,00009/241.09 miTurbit Close, Ross-On-Wye2
£1,05009/241.11 miFrillbank Road, Ross-On-Wye2
£1,10009/241.25 miBannut Tree Gardens, Bridstow, Ross-on-Wye3
£1,50004/241.64 mi-3
£3,50009/241.77 miKingstone Court, Weston Under Penyard, HR9 7PQ4
£90009/241.83 miBridstow, Ross-on-Wye, Herefordshire, HR92
£52803/251.94 mi-1
£1,65009/242.04 miBridstow, Ross-on-Wye, Herefordshire, HR94
£2,50005/242.1 mi-5
£2,60012/242.1 mi-5
£1,00004/252.1 mi-1
£1,40009/242.11 miWarryfields Cottage, Walford, Ross-On-Wye, HR9 5QW3

Local Area Statistics

Population in hr9

20,936

Town centre distance

0.57 miles away

Nearest school

0.30 miles away

Nearest train station

11.38 miles away

 

 

Rental growth (12m)

+61%

Sales demand

Buyer's market

Capital growth (5yrs)

+26%

Property History

Price changed to £275,000

December 24, 2024

Listed for £300,000

October 26, 2024

Sold for £190,200

2007

Floor Plans

Description

  • Positive Response to Pre-Planning Application +
  • Exciting Development Opportunity +
  • In Need of Refurbishment +
  • No Forward Chain +
  • Popular Location Close to Town & Countryside Walks +
  • 3 Bedrooms & 2 Reception Rooms +
  • Garage & Large Garden +
  • EPC Rating: G +

An exciting opportunity to acquire a 1930's three bedroom semi-detached home in need of substantial renovation situated in a generous corner plot with positive pre planning application for a separate three bedroom residential dwelling.

The property is situated in a sought after area of Merrivale. Within short walking distance there is access to both the countryside and Ross on Wye town centre where there is a good range of shopping, social and sporting facilities. Excellent road links can be found to the centres of Hereford, Gloucester, Cheltenham and The Midlands via M50/M5 South Wales via A40/M4.

The property is entered by:
Solid wood front entrance door leading into:

Reception Hall:
Staircase to first floor landing. Glazed solid wood door into:

Sitting Room: 12'6" x 8'1" (3.8m x 2.46m)
Original stained glass window to front aspect. Feature fireplace. Door to:

Dining Area: 15'6" x 9'4" (4.72m x 2.84m)
Recessed wood burning stove. Window to side aspect. Door to kitchen. Open plan to:

Further Reception Area: 13'3" x 9'1" (4.04m x 2.77m)
Window to rear aspect. Door to:

Galleried Kitchen:
Door from dining area. Range of basic base and wall mounted units. Crittall windows to side and rear aspects. Stainless steel sink. Tiled splashback. Door to:

Side Entrance Porch:
Plumbing for washing machine. Base mounted units. Opening to side gardens.

First Floor Landing:
Window to side aspect, secondary glazing. Access to loft space. Door to:

Bedroom 3: 8'6" x 7' (2.6m x 2.13m)
Newly installed hardwood double glazed window to rear aspect.

Bedroom 2: 12'3" x 6'7" (3.73m x 2m)
Single glazed window to rear aspect. Fitted cupboards.

Bedroom 1: 12'3" x 9'5" (3.73m x 2.87m)
Fitted cupboard. Original feature window to front aspect.

Bathroom:
Panelled bath with electric shower over. WC. Space for wash hand basin. Window to front aspect.

Outside
The property is entered via pedestrian front entrance into the garden, subject to consent, this could provide a drop kerb allowing ample parking two vehicles. A particular feature of the property is the generous sized corner plot location. The property would have a nice sized side garden and some rear garden. There is a separate access with garage and parking off Penyard Lane where there could be a separate dwelling, subject to necessary further consent and submission for full application for residential use.

Agents Note:
The property requires substantial renovation and has had a positive response to a pre planning application it is considered that a 3 bedroom property would be supported.

Application Number: 242286/CE - It is considered that the principle of the development can be supported within the site. Further clarification would be required through the form of elevational and floor plans, and these could be reviewed upon submission of new pre planning advice request.

Verified Material Information
Council tax band: C. Annual charge: £2000.42 a year (£166.7 a month)
Electricity supply: Mains electricity
Water supply: Mains water supply
Sewerage: Mains
Heating: Room heaters only
Heating features: Wood burner
Broadband: FTTP (Fibre to the Premises)
Mobile coverage: O2 - Excellent, Vodafone - Excellent, Three - Excellent, EE - Excellent
Parking: Garage and Off Street
Building safety issues: Yes

For the complete Verified Information on this property, please see QR code on the property brochure or contact the office.

Directions:
From the centre of Ross-on-Wye proceed up Copse Cross Street, taking the second left into Alton Street, proceeding along taking the third turning right into Penyard Lane, the parking and garage is currently opposite Alton road industrial estate.

Agent Details

Richard Butler & Associates, Ross-On-Wye

01989 551078

Next Steps?

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