2 Bed Bungalow, Refurb/BRRR, Bognor Regis, PO21 4LB, £425,000

Ruislip Gardens, Aldwick, PO21 4LB - 4 months ago

Refurb/BRRR
~102 m²
+9 photos

ValuationFair Value

Sold Prices£240K - £695K
Sold Prices/m²£2.9K/m² - £7K/m²

 

 

Square Metres

~101.90 m²
Price/m²£4.2K/m²

Value Estimate

£425,000

 

 

End Value (After Refurb)

£410,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£106,250

Stamp Duty & Legal Fees

£22,700

Refurb Costs

£47,359

Bridging Loan Interest

£11,156

Total Cash In

£189,215

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£410,000

Mortgage (After Refinance)

£307,500

Mortgage LTV

75%

Cash Left In

£189,215

Equity

£102,500

Rent Range

£950 - £1,950

Rent Estimate

£1,322

Running Costs/mo

£1,566

Cashflow/mo

£-244

Cashflow/yr

£-2,924

Gross Yield

4%

Local Sold Prices

50 sold prices from £240K to £695K, average is £295.6K. £2.9K/m² to £7K/m², average is £4.7K/m².

PriceDateDistanceAddressBeds 
£375K08/210.11 mi17, Inglewood Drive, Bognor Regis, West Sussex PO21 4JX2
£367.5K09/230.13 mi26, Greenlea Avenue, Bognor Regis, West Sussex PO21 3LH2
£360K08/230.2 mi29, Leonora Drive, Bognor Regis, West Sussex PO21 3NH2
£320K03/230.2 mi62, Pryors Lane, Bognor Regis, West Sussex PO21 4JD2
£267.5K03/230.2 mi3, Stoney Stile Lane, Bognor Regis, West Sussex PO21 4LP2
£258K12/200.21 mi8, Pryors Green, Bognor Regis, West Sussex PO21 4LR2
£295K11/230.23 mi7, Pilgrims Way, Bognor Regis, West Sussex PO21 3LF2
£310K06/210.23 mi18, Fletcher Close, Bognor Regis, West Sussex PO21 3NR2
£300K05/230.23 mi4, Fletcher Close, Bognor Regis, West Sussex PO21 3NR2
£245K09/200.24 mi1, Carlton Avenue, Bognor Regis, West Sussex PO21 3LS2
£275K06/210.24 mi23, Ledbury Way, Bognor Regis, West Sussex PO21 3JP2
£275K10/230.24 mi21, Ledbury Way, Bognor Regis, West Sussex PO21 3JP2
£342K03/230.24 mi20, Ledbury Way, Bognor Regis, West Sussex PO21 3JP2
£285K05/240.24 mi22, Ledbury Way, Bognor Regis, West Sussex PO21 3JP2
£300K03/240.27 mi17, Leonora Drive, Bognor Regis, West Sussex PO21 3NW2
£695K11/220.29 miWhite Cottage, 9, Apple Grove, Bognor Regis, West Sussex PO21 4NB2
£275K07/240.3 mi38, Valentines Gardens, Bognor Regis, West Sussex PO21 4JE2
£250K04/210.3 mi34, Valentines Gardens, Bognor Regis, West Sussex PO21 4JE2
£400K11/220.31 mi28, Nyetimber Crescent, Bognor Regis, West Sussex PO21 3NN2
£259K02/210.32 mi8, Mayfield Close, Bognor Regis, West Sussex PO21 3NU2
£272.5K12/230.32 mi72, Pryors Lane, Bognor Regis, West Sussex PO21 4JF2
£350K05/230.33 mi24, Boxgrove Gardens, Bognor Regis, West Sussex PO21 4BB2
£322.5K06/240.34 mi17, Greenways, Pagham, Bognor Regis, West Sussex PO21 4QE2
£280K10/200.34 mi42, Greenways, Pagham, Bognor Regis, West Sussex PO21 4QE2
£250K05/210.34 mi24, Greenways, Pagham, Bognor Regis, West Sussex PO21 4QE2
£363.5K12/230.34 mi2a, Greenways, Pagham, Bognor Regis, West Sussex PO21 4QE2
£255K01/210.37 mi11, Dukes Meadow, Bognor Regis, West Sussex PO21 3PJ2
£300K04/230.38 mi4, Wilman Gardens, Bognor Regis, West Sussex PO21 4BP2
£245K08/210.4 mi6, Lodsworth Road, Bognor Regis, West Sussex PO21 3PG2
£290K08/240.4 mi18, Lodsworth Road, Bognor Regis, West Sussex PO21 3PG2
£260.3K05/240.43 mi17, Stonehill Crescent, Bognor Regis, West Sussex PO21 3PQ2
£277K12/200.43 mi9, Stonehill Crescent, Bognor Regis, West Sussex PO21 3PQ2
£270K03/210.43 mi33, Stonehill Crescent, Bognor Regis, West Sussex PO21 3PQ2
£290K12/200.44 mi39, Cardinals Drive, Bognor Regis, West Sussex PO21 4QD2
£275K03/210.44 mi41, Cardinals Drive, Bognor Regis, West Sussex PO21 4QD2
£250K09/210.45 mi23, Stonehill Crescent, Bognor Regis, West Sussex PO21 3PQ2
£288K10/200.46 mi4, Grosvenor Way, Bognor Regis, West Sussex PO21 3HA2
£357.5K08/240.48 mi66, Church Way, Bognor Regis, West Sussex PO21 4QQ2
£296.3K05/210.5 mi4, Link Way, Bognor Regis, West Sussex PO21 4QB2
£355K10/230.5 mi2, Link Way, Bognor Regis, West Sussex PO21 4QB2
£240K01/210.5 mi79, Osborne Way, Bognor Regis, West Sussex PO21 3FE2
£580K03/240.52 mi8, Grangefield Way, Bognor Regis, West Sussex PO21 4EG2
£395K05/230.52 mi15, Church Way, Bognor Regis, West Sussex PO21 4QL2
£310K01/210.53 mi7, Sussex Drive, Bognor Regis, West Sussex PO21 4RW2
£350K10/230.53 mi15, Sussex Drive, Bognor Regis, West Sussex PO21 4RW2
£530K08/230.54 mi1, Grangewood Drive, Bognor Regis, West Sussex PO21 4LT2
£365K12/200.57 mi27, Eastmead, Bognor Regis, West Sussex PO21 4QT2
£288K11/200.58 mi38, Rose Green Road, Bognor Regis, West Sussex PO21 3EP2
£318K06/230.58 mi21, Bishops Close, Bognor Regis, West Sussex PO21 4QR2
£350K12/220.6 mi15, Shirley Close, Bognor Regis, West Sussex PO21 4QU2

Local Rents

18 rents from £950/mo to £1.9K/mo, average is £1.3K/mo.

RentDateDistanceAddressBeds 
£1,29506/240.22 miWillowhale Green, Bognor Regis, PO212
£1,25006/240.25 miCarlton Avenue, Rose Green, Bognor Regis, PO212
£1,50007/240.34 miGreenways, Pagham, Bognor Regis, West Sussex, PO212
£1,20006/240.43 miStonehill Crescent, BOGNOR REGIS2
£1,29507/240.45 miRossalyn Close, Rose Green2
£96502/250.5 mi-2
£1,45007/240.5 miOsborne Way, Rose Green, Bognor Regis2
£1,05007/240.88 miSt Thomas Court, Pagham, Bognor Regis PO212
£99507/240.91 miThe Parade, Pagham, PO212
£1,95002/250.91 mi-2
£1,95007/240.91 miPagham, Bognor Regis, PO212
£1,10007/241.02 mi-2
£1,20003/251.03 mi-2
£1,17506/241.06 miTrotyn Croft, Aldwick Felds2
£1,60007/241.15 miAldwick 2
£1,49506/241.16 miEversley Court, Aldwick Avenue, Bognor Regis, PO212
£1,25007/241.17 miEversley Court, Aldwick Avenue, Bognor Regis, PO212
£95009/241.24 mi-2

Local Area Statistics

Population in PO21

39,509

Population in Bognor Regis

68,380

Town centre distance

2.26 miles away

Nearest school

0.20 miles away

Nearest train station

2.17 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+28%

Sales demand

Balanced market

Capital growth (5yrs)

+19%

Property History

Price changed to £425,000

December 6, 2024

Listed for £450,000

October 28, 2024

Floor Plans

Description

  • Cul-de-Sac Location +
  • Two/Three Double Bedrooms +
  • Modern Shower Room with WC +
  • Secluded Generous Wrap-around Garden +
  • Driveway leading to Detached Garage +
  • Modernisation and Extension Opportunity +
  • 'L' Shaped Sitting Room/Dining Room +
  • Kitchen/Breakfast Room/Conservatory +

An excellent opportunity for the next owner to put their own stamp on this detached bungalow as the property does require some updating and there is potential to extend as the bungalow sits on a generous corner plot.

The accommodation briefly comprises entrance hallway with airing cupboard, dual aspect ‘L’ shaped sitting room/dining room with patio doors opening onto the garden. The dining area has an archway through to the sitting room as the wall was opened up. However, should the incoming buyer want the additional bedroom, the wall could be re-instated. The kitchen/breakfast room is fitted with a range of cupboards with an electric oven and gas hob and there is space for white goods. There is a side conservatory opening onto a large paved courtyard area. There are two double bedrooms and a modern shower room with double walk-in shower, vanity basin and WC.

Outside, the front garden is laid to lawn, to the side there is a driveway leading to the garage which also has a personal door from the back garden. The rear garden is predominantly laid to lawn bordered by mature hedges with space on both sides of the bungalow for possible extensions. A viewing is recommended to appreciate its convenient location and scope for extension and improvement.

EPC Rating: E

Agent Details

Henry Adams, Bognor Regis

01243 219388

Next Steps?

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