2 Bed Bungalow, Refurb/BRRR, Canvey Island, SS8 9JS, £300,000

New Road, Canvey Island, SS8 9JS - 1 views - 5 months ago

Sold STC
Refurb/BRRR
ROI: 5%
~65 m²
+5 photos

ValuationUndervalued

Sold Prices£195K - £400K
Sold Prices/m²£3K/m² - £7.2K/m²

 

 

Square Metres

~65 m²
Price/m²£4.6K/m²

Value Estimate

£309,000
BMV3%

 

 

End Value (After Refurb)

£285,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£75,000

Stamp Duty & Legal Fees

£18,700

Refurb Costs

£31,778

Bridging Loan Interest

£7,875

Total Cash In

£135,103

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£285,000

Mortgage (After Refinance)

£213,750

Mortgage LTV

75%

Cash Left In

£135,103

Equity

£71,250

Rent Range

£850 - £4,000

Rent Estimate

£1,782

Running Costs/mo

£1,267

Cashflow/mo

£515

Cashflow/yr

£6,180

ROI

5%

Gross Yield

7%

Local Sold Prices

50 sold prices from £195K to £400K, average is £275K. £3K/m² to £7.2K/m², average is £5K/m².

PriceDateDistanceAddressBeds 
£330K05/230.05 mi13, Maple Way, Canvey Island, Essex SS8 9JP2
£270K02/210.06 mi2b, Green Avenue, Canvey Island, Essex SS8 0LH2
£195K02/230.06 mi13, Green Avenue, Canvey Island, Essex SS8 0LH2
£325K11/230.15 mi16, Janette Avenue, Canvey Island, Essex SS8 0LB2
£267K02/210.16 mi8, Deepwater Road, Canvey Island, Essex SS8 0LA2
£260K09/230.17 mi3, Woodhurst Road, Canvey Island, Essex SS8 0HB2
£245K05/210.19 mi12, Canvey Road, Canvey Island, Essex SS8 0LW2
£267.5K12/200.2 mi11, Woodhurst Road, Canvey Island, Essex SS8 0HB2
£241.5K11/200.22 mi1, Birch Close, Canvey Island, Essex SS8 9JG2
£240K04/210.23 mi12, Palmerstone Road, Canvey Island, Essex SS8 0NB2
£260K08/210.23 mi4, Vicarage Close, Canvey Island, Essex SS8 0LY2
£219K05/210.24 mi46a, Hawkesbury Road, Canvey Island, Essex SS8 0EX2
£266K11/200.29 mi18, Tudor Road, Canvey Island, Essex SS8 0ND2
£320K03/230.3 mi93, Cedar Road, Canvey Island, Essex SS8 9HS2
£330K07/230.32 mi46, Haven Road, Canvey Island, Essex SS8 0NG2
£400K11/210.33 mi19, Barbara Avenue, Canvey Island, Essex SS8 0HA2
£313K08/230.34 mi7, Clinton Road, Canvey Island, Essex SS8 0NQ2
£375K10/230.36 mi88, Hawkesbury Road, Canvey Island, Essex SS8 0EY2
£223K10/200.4 mi4, Little Gypps Road, Canvey Island, Essex SS8 9HG2
£269K12/200.4 mi18, Hertford Road, Canvey Island, Essex SS8 0EN2
£250K09/210.41 mi10a, Matlock Road, Canvey Island, Essex SS8 0EW2
£295K06/210.42 mi9, Thames Road, Canvey Island, Essex SS8 0HH2
£345K01/230.42 mi7, Willow Close, Canvey Island, Essex SS8 9HQ2
£285K02/210.42 mi48, Haven Road, Canvey Island, Essex SS8 0NG2
£292K03/210.43 mi84, Central Avenue, Canvey Island, Essex SS8 9QR2
£275K04/230.43 mi58, Central Avenue, Canvey Island, Essex SS8 9QR2
£275K03/240.47 mi80, Cedar Road, Canvey Island, Essex SS8 9HR2
£276K06/210.47 mi86, Cedar Road, Canvey Island, Essex SS8 9HR2
£350K09/230.5 mi24, Limburg Road, Canvey Island, Essex SS8 0QJ2
£300K08/230.5 mi19a, Beverley Avenue, Canvey Island, Essex SS8 0DN2
£290K07/230.54 mi194, Canvey Road, Canvey Island, Essex SS8 0QE2
£305K01/240.56 mi47, Denham Road, Canvey Island, Essex SS8 9HB2
£252.5K10/230.56 mi40b, Denham Road, Canvey Island, Essex SS8 9HB2
£375K09/210.56 mi7, Craven Avenue, Canvey Island, Essex SS8 0DJ2
£320K09/230.56 mi10, The Fielders, Canvey Island, Essex SS8 0RN2
£305K07/230.56 mi5, The Fielders, Canvey Island, Essex SS8 0RN2
£283K10/230.57 mi33, Jasmine Close, Canvey Island, Essex SS8 0HT2
£270K06/210.58 mi4, Avon Road, Canvey Island, Essex SS8 0DH2
£230K10/200.59 mi17, Craven Avenue, Canvey Island, Essex SS8 0BY2
£265K09/230.6 mi48, Denham Road, Canvey Island, Essex SS8 9HA2
£310K09/230.6 mi86, Denham Road, Canvey Island, Essex SS8 9HA2
£285K02/210.6 mi23, Stanford Road, Canvey Island, Essex SS8 0DG2
£270K02/230.6 mi23, Craven Avenue, Canvey Island, Essex SS8 0BY2
£260K04/230.62 mi98, Church Parade, Canvey Island, Essex SS8 9RH2
£327.5K10/230.62 mi114, Church Parade, Canvey Island, Essex SS8 9RH2
£265K06/210.62 mi8, The Fielders, Canvey Island, Essex SS8 0RN2
£263K12/200.64 mi10, Azalea Mews, Canvey Island, Essex SS8 0HU2
£305K04/230.64 mi14, Azalea Mews, Canvey Island, Essex SS8 0HU2
£250K06/210.65 mi25, Beverley Avenue, Canvey Island, Essex SS8 0BS2
£265K05/230.65 mi14a, Sydervelt Road, Canvey Island, Essex SS8 9EF2

Local Rents

50 rents from £850/mo to £4K/mo, average is £1.5K/mo.

RentDateDistanceAddressBeds 
£1,39509/240.12 mi-3
£1,35009/240.18 mi3 bedroom Terraced House in Canvey Island3
£3,20012/240.19 mi-6
£1,30009/240.19 mi119 First Avenue 3
£1,50003/250.19 mi-4
£2,00009/240.21 mi-4
£1,30009/240.22 miSecond Avenue, Canvey Island3
£95009/240.24 miCherry Court,Canvey Island,Essex1
£2,00009/240.24 miHawkesbury Road, Canvey Island3
£1,40002/250.32 mi-3
£85001/250.35 mi-1
£1,77502/250.37 mi-3
£1,25009/240.4 mi-2
£1,55003/250.45 mi-3
£1,50009/240.49 miThe Picketts, Canvey Island, Canvey Island, 3
£1,52512/240.53 mi-4
£1,35009/240.57 miCentral Avenue, Canvey Island2
£1,70001/250.58 mi-3
£1,30009/240.6 miStanford Road, Canvey Island3
£1,20003/250.67 mi-2
£2,65001/250.74 mi-5
£3,10002/250.86 mi-4
£1,40001/250.86 mi-3
£3,40003/250.96 mi-6
£1,07501/250.96 mi-2
£1,90004/251.03 mi-3
£2,40003/251.08 mi-4
£3,00003/251.1 mi-4
£1,50009/241.11 miThames Court, Western Esplanade, Canvey Island, Essex1
£2,75003/251.14 mi-4
£3,40004/251.14 mi-5
£2,90004/251.14 mi-5
£2,35003/251.15 mi-4
£2,37503/251.16 mi-4
£2,80003/251.19 mi-4
£1,65003/251.21 mi-3
£1,45012/241.22 mi-2
£85009/241.27 mi33 Venables Court1
£1,28009/241.31 mi-2
£97510/231.31 mi-1
£1,05011/241.31 mi-1
£4,00003/251.32 mi-4
£1,00003/251.35 mi-1
£1,15009/241.43 miBeach Heights Apartments 2
£2,05009/241.46 mi-4
£1,20009/241.47 miNormans Road, Canvey Island2
£1,35002/241.5 mi-3
£1,20009/241.59 miSan Remo Road, Canvey Island, Essex3
£85009/241.62 miNewlands Road, Canvey Island, Essex1
£1,35011/231.63 mi-2

Local Area Statistics

Population in SS8

38,134

Population in Canvey Island

38,138

Town centre distance

0.89 miles away

Nearest school

0.20 miles away

Nearest train station

1.63 miles away

 

 

Rental growth (12m)

+72%

Sales demand

Seller's market

Capital growth (5yrs)

+21%

Property History

Price changed to £300,000

February 4, 2025

Listed for £315,000

October 29, 2024

Floor Plans

Description

  • 2 GOOD SIZE BEDROOMS +
  • GOOD SIZE REAR GARDEN +
  • GREAT OFF STREET PARKING +
  • IN NEED OF MODERNISATION +
  • LARGE LOUNGE +
  • NO ONWARD CHAIN! +
  • SOLE AGENTS +
  • 2 YEAR OLD BOILER +

GUIDE PRICE £300,000-£325,000

WilsonWood are delighted to present this charming 2-bedroom bungalow which offers a fantastic opportunity for those seeking a property they wish to put their own stamp on. Situated in a peaceful neighborhood, this property boasts ample potential for renovation and modernization.

The bungalow features 2 COSY GOOD SIZE BEDROOMS, a living room, a kitchen, and a bathroom. While the property requires some TLC, it offers a BLANK CANVAS for a Buyer. The property benefits from a 2 YEAR OLD BOILER.

With a bit of imagination and hard work, you can transform this bungalow into your dream home. It benefits from GREAT OFF STREET PARKING as well as a GOOD SIZE GARDEN.

Agent Details

Wilsonwood Properties, Canvey Island - Sales

01268 203476

Next Steps?

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