2 Bed Flat, Refurb/BRRR, Basingstoke, RG21 3ND, £175,000

Sylvia Close, Basingstoke, Hampshire, RG21 3ND - 6 months ago

Leasehold
Refurb/BRRR
ROI: 6%
~60 m²
+5 photos

ValuationUndervalued

Sold Prices£98.5K - £256K
Sold Prices/m²£1.9K/m² - £4.3K/m²

 

 

Square Metres

~59.60 m²
Price/m²£2.9K/m²

Value Estimate

£180,250
BMV3%

 

 

End Value (After Refurb)

£215,339

Uplift in Value

+23%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£43,750

Stamp Duty & Legal Fees

£10,950

Refurb Costs

£27,429

Bridging Loan Interest

£4,594

Total Cash In

£88,473

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£215,339

Mortgage (After Refinance)

£161,505

Mortgage LTV

75%

Cash Released

£30,255

Cash Left In

£58,218

Equity

£53,835

Rent Range

£875 - £2,900

Rent Estimate

£1,373

Running Costs/mo

£968

Cashflow/mo

£405

Cashflow/yr

£4,866

ROI

5%

Gross Yield

9%

Local Sold Prices

50 sold prices from £98.5K to £256K, average is £200K. £1.9K/m² to £4.3K/m², average is £3.3K/m².

PriceDateDistanceAddressBeds 
£199.9K11/220.03 mi23, Sylvia Close, Basingstoke, Hampshire RG21 3ND2
£190K04/210.03 mi17, Sylvia Close, Basingstoke, Hampshire RG21 3ND2
£183.5K02/210.03 mi45, Sylvia Close, Basingstoke, Hampshire RG21 3ND2
£220K02/210.22 mi9, Devonshire Place, Basingstoke, Hampshire RG21 8UU2
£229K04/210.22 mi10, Devonshire Place, Basingstoke, Hampshire RG21 8UU2
£218K10/210.22 mi105, Penrith Road, Basingstoke, Hampshire RG21 8UR2
£212.5K12/200.22 mi82, Penrith Road, Basingstoke, Hampshire RG21 8UR2
£216K08/230.22 mi12c, Beaconsfield Road, Basingstoke, Hampshire RG21 3DP2
£225K11/200.22 mi12b, Beaconsfield Road, Basingstoke, Hampshire RG21 3DP2
£203K02/210.27 mi161a, Winchester Road, Basingstoke, Hampshire RG21 8YF2
£229.7K06/210.28 mi13, Montague Place, Basingstoke, Hampshire RG21 3DS2
£200K11/210.33 mi7, Hillstead Court, Basingstoke, Hampshire RG21 3PT2
£193.3K04/210.33 mi11, Hillstead Court, Basingstoke, Hampshire RG21 3PT2
£185K01/230.37 mi31, Russell Road, Basingstoke, Hampshire RG21 3EU2
£200K02/210.37 mi52, Russell Road, Basingstoke, Hampshire RG21 3EU2
£210K01/230.37 mi39, Russell Road, Basingstoke, Hampshire RG21 3EU2
£224K05/230.37 mi24, Russell Road, Basingstoke, Hampshire RG21 3EU2
£185K12/220.37 mi34, Russell Road, Basingstoke, Hampshire RG21 3EU2
£225K02/230.37 mi44, Russell Road, Basingstoke, Hampshire RG21 3EU2
£120K04/210.41 mi2, Rayleigh Road, Basingstoke, Hampshire RG21 7TJ2
£256K05/230.46 miUpper Flat, 22, Rayleigh Road, Basingstoke, Hampshire RG21 7TH2
£177.5K01/210.47 mi11, Lawrence Dale Court, Basingstoke, Hampshire RG21 8FP2
£222K02/230.48 mi6, Wilton Place, Basingstoke, Hampshire RG21 7UD2
£210K01/210.53 mi33, Halliday Close, Basingstoke, Hampshire RG21 3LA2
£188K01/210.53 mi41, Halliday Close, Basingstoke, Hampshire RG21 3LA2
£200K07/230.53 miFlat 7, Lauriston Court, London Road, Basingstoke, Hampshire RG21 4BB2
£98.5K07/210.53 miFlat 6, Lauriston Court, London Road, Basingstoke, Hampshire RG21 4BB2
£200K12/200.59 mi174, Sinclair Drive, Basingstoke, Hampshire RG21 6AE2
£175K04/230.61 mi147, Winterthur Way, Basingstoke, Hampshire RG21 7UE2
£222K08/230.62 mi328, Winterthur Way, Basingstoke, Hampshire RG21 7UQ2
£200K03/210.62 mi368, Winterthur Way, Basingstoke, Hampshire RG21 7UQ2
£197.5K07/230.64 mi297, Cranbourne Lane, Basingstoke, Hampshire RG21 3NU2
£180K05/230.65 mi481, Winterthur Way, Basingstoke, Hampshire RG21 7UW2
£220K02/230.65 mi18, Elizabeth Road, Basingstoke, Hampshire RG22 6AX2
£207K11/200.67 mi69, Skippetts Gardens, Basingstoke, Hampshire RG21 3FB2
£172K05/210.68 mi140, Skippetts Gardens, Basingstoke, Hampshire RG21 3BY2
£188K01/210.69 mi14, Millennium Court, Basingstoke, Hampshire RG21 7RA2
£245K06/230.69 mi12, Millennium Court, Basingstoke, Hampshire RG21 7RA2
£250K12/220.69 mi21, Millennium Court, Basingstoke, Hampshire RG21 7RA2
£221K01/230.82 mi43, Western Way, Basingstoke, Hampshire RG22 6DF2
£212K11/220.86 mi17, Millennium Court, Basingstoke, Hampshire RG21 7RA2
£198K06/210.86 mi44, Western Way, Basingstoke, Hampshire RG22 6DB2
£200K10/210.89 mi14, Bliss Close, Brighton Hill, Basingstoke, Hampshire RG22 4EJ2
£180K06/210.89 mi20, Bliss Close, Brighton Hill, Basingstoke, Hampshire RG22 4EJ2
£136.5K02/210.9 mi24, Bliss Close, Basingstoke, Hampshire RG22 4EJ2
£185K04/210.91 mi3, St Andrews Road, Basingstoke, Hampshire RG22 6PS2
£209K03/230.91 mi3, St Andrews Road, Basingstoke, Hampshire RG22 6PS2
£220K03/230.92 mi48, Grainger Close, Basingstoke, Hampshire RG22 4DZ2
£137K04/210.93 mi14, Purcell Close, Basingstoke, Hampshire RG22 4EL2
£195K10/210.93 mi19, Purcell Close, Basingstoke, Hampshire RG22 4EL2

Local Rents

50 rents from £875/mo to £2.9K/mo, average is £1.3K/mo.

RentDateDistanceAddressBeds 
£1,25007/240.01 miSylvia Close, Basingstoke, Hampshire, RG212
£1,05007/240.03 miSylvia Close2
£1,59507/240.14 miBounty Road2
£1,25007/240.14 miBasingstoke Town Centre RG212
£1,30009/240.16 mi-2
£1,50007/240.2 miWinchester Road, Basingstoke, Hampshire, RG212
£1,20007/240.22 miWinchester Road, Basingstoke2
£87507/240.27 miWinchester Road, Basingstoke2
£1,30008/240.27 mi-2
£1,49508/240.27 miSouthern Road, Basingstoke, RG212
£1,49509/240.27 mi-2
£1,25012/240.3 mi-2
£1,50009/240.31 miThe Old Post Office, Basingstoke, Hampshire2
£1,20007/240.31 miApartment 10, Copenhagen Court, 32 New Street, Basingstoke, RG21 7DT2
£1,45007/240.31 miApartment 33, Copenhagen Court, 32 New Street, Basingstoke, RG21 7DT2
£1,29507/240.31 miCliddesden Road2
£1,40007/240.31 miCliddesden Road2
£1,32508/240.31 miCliddesden Road2
£1,30008/240.32 mi20B Winchester Street, Basingstoke, Hampshire2
£1,60007/240.32 mi51 Innovation Court, New Street, Basingstoke, Hampshire, RG21 7BY2
£1,70007/240.33 miInnovation Court, New Street, Basingstoke, Hampshire, RG21 7BY2
£1,65007/240.33 miInnovation Court, New Street, Basingstoke, Hampshire, RG21 7BY2
£1,50008/240.33 miFlat 1, The Old Post Office, 17 New Street, Basingstoke, RG21 7DE2
£1,20007/240.35 miNew Street, Basingstoke2
£1,12507/240.35 mi-2
£1,29508/240.35 miTown Centre, Basingstoke2
£1,29508/240.35 miTown Centre, Basingstoke2
£1,20007/240.35 miJoices Yard, Basingstoke, Hampshire, RG212
£1,15007/240.36 miFlaxfield Road, BASINGSTOKE2
£1,35008/240.37 miWindover Mews RG212
£1,20007/240.37 miRussell Road, Basingstoke, Hampshire, RG212
£1,20007/240.37 miStukeley Road, Basingstoke, Hampshire, RG212
£1,50010/230.37 miChurch Street, Basingstoke, Hampshire, RG212
£1,49507/240.38 miFlat 1, 10 London Street, London Street, Basingstoke, Hampshire, RG212
£2,90009/240.38 mi-2
£1,35007/240.39 miFlaxfield Rd, Basingstoke RG212
£1,25007/240.4 mi-2
£1,37507/240.4 mi-2
£1,37504/250.4 mi-2
£1,40007/240.42 miChurch Square, Basingstoke2
£1,25007/240.45 miTown Centre, RG212
£1,25007/240.45 miFestival Apartments, Basingstoke RG212
£1,32507/240.45 miFlaxfield Court, Basingstoke, Hampshire, RG212
£1,10007/240.47 miNew Road, Basingstoke2
£1,35008/240.47 miNew Road, Basingstoke2
£2,90008/240.5 mi-2
£95002/240.52 mi-2
£95007/240.52 mi-2
£95007/240.52 miQueens Road, Basingstoke, RG212
£1,50007/240.53 miBrookvale Close, Town Centre2

Local Area Statistics

Population in RG21

26,623

Population in Basingstoke

120,645

Town centre distance

0.88 miles away

Nearest school

0.20 miles away

Nearest train station

0.70 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+18%

Sales demand

Balanced market

Capital growth (5yrs)

+26%

Property History

Price changed to £175,000

April 5, 2025

Listed for £180,000

October 28, 2024

Floor Plans

Description

  • Well-sized reception room +
  • Opportunity for modernisation +
  • Nearby schools for families +
  • Project potential +
  • Convenient location +

Anyone wishing to place an offer on the property should contact Romans Basingstoke 2-3 Winton Square Basingstoke RG21 8EN before exchange of contracts.
A chance to make your mark on this 2 bedroom flat for sale, which needs modernising to reach its full potential. The property features a well-sized reception room, ideal for relaxing or entertaining. The kitchen, although requiring some upgrading, offers a great space for any keen cook to make their own. Both bedrooms are generous double rooms, providing ample space for rest and relaxation. There is also a bathroom that, while functional, would benefit from modernisation.

The flat is conveniently located close to local amenities, making day-to-day living easy and efficient. Furthermore, the benefit of nearby schools is a bonus for families or those planning for the future. This property is a fantastic opportunity to create a beautiful home to your own taste and style. Offering potential and location, this flat is a must-see for anyone looking for a project.

All services/appliances have not, and will not be tested.

Service charges- £951.32pa
Ground rent- Peppercorn
Council tax band- B

Agent Details

Romans, Basingstoke

01256 638861

Next Steps?

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