2 Bed Terraced House, Refurb/BRRR, Salisbury, SP1 2JU, £199,000

22 Polden Road, Salisbury, Wiltshire, SP1 2JU - 7 views - 6 months ago

Refurb/BRRR
ROI: 3%
~68 m²
+3 photos

ValuationUndervalued

Sold Prices£150K - £392.5K
Sold Prices/m²£2.6K/m² - £6K/m²

 

 

Square Metres

~68.11 m²
Price/m²£2.9K/m²

Value Estimate

£204,970
BMV3%

 

 

End Value (After Refurb)

£227,037

Uplift in Value

+14%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£49,750

Stamp Duty & Legal Fees

£7,170

Refurb Costs

£27,612

Bridging Loan Interest

£5,224

Total Cash In

£91,505

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£227,037

Mortgage (After Refinance)

£170,277

Mortgage LTV

75%

Cash Released

£21,027

Cash Left In

£70,478

Equity

£56,759

Rent Range

£800 - £1,850

Rent Estimate

£1,151

Running Costs/mo

£960

Cashflow/mo

£191

Cashflow/yr

£2,296

ROI

3%

Gross Yield

7%

Local Sold Prices

51 sold prices from £150K to £392.5K, average is £250.6K. £2.6K/m² to £6K/m², average is £3.9K/m².

PriceDateDistanceAddressBeds 
£235K07/210.01 mi7, Polden Road, Salisbury, Wiltshire SP1 2JU2
£220K06/230.01 mi20, Polden Road, Salisbury, Wiltshire SP1 2JU2
£226K04/210.04 mi6, Farley Road, Salisbury, Wiltshire SP1 2JZ2
£230K04/210.05 mi41, Waterloo Road, Salisbury, Wiltshire SP1 2JR2
£209K09/210.08 mi23, Avon Place, Salisbury, Wiltshire SP1 2ET2
£279.9K01/210.13 mi6, Marina Road, Salisbury, Wiltshire SP1 2JN2
£280K10/230.17 mi28, Bower Gardens, Salisbury, Wiltshire SP1 2RL2
£325K01/210.29 mi5, Tollgate Road, Salisbury, Wiltshire SP1 2JA2
£392.5K02/210.33 mi76, St Ann Street, Salisbury, Wiltshire SP1 2DX2
£205K11/200.35 mi13, Milford Hill, Salisbury, Wiltshire SP1 2QX2
£295K08/230.35 mi29, Rampart Road, Salisbury, Wiltshire SP1 2LU2
£150K06/230.36 mi46, St Ann Place, Salisbury, Wiltshire SP1 2SU2
£220K06/210.38 mi3, Greens Court, Salisbury, Wiltshire SP1 2SX2
£222K07/230.39 mi131, Love Lane, Salisbury, Wiltshire SP1 2BG2
£222K07/230.39 mi131, Love Lane, Salisbury, Wiltshire SP1 2BG2
£200K03/230.42 mi4, Hillview Road, Salisbury, Wiltshire SP1 1HX2
£200K08/230.42 mi11, Hillview Road, Salisbury, Wiltshire SP1 1HX2
£227.5K03/210.43 mi30, Friary Lane, Salisbury, Wiltshire SP1 2HA2
£202.5K05/210.43 miOrchard Cottage, Friary Lane, Salisbury, Wiltshire SP1 2HA2
£256K11/210.45 mi12, St Ann Street, Salisbury, Wiltshire SP1 2DN2
£275K10/220.46 mi19, Laverstock Road, Salisbury, Wiltshire SP1 1LE2
£250.6K12/220.48 mi55, Elm Grove Road, Salisbury, Wiltshire SP1 1JW2
£272.5K04/210.52 mi9, Greenwood Avenue, Laverstock, Salisbury, Wiltshire SP1 1PD2
£190K04/210.52 mi27, Pennyfarthing Street, Salisbury, Wiltshire SP1 1HJ2
£250K02/230.54 mi38, Greencroft Street, Salisbury, Wiltshire SP1 1JE2
£285K01/230.55 mi15, The Greencroft, Salisbury, Wiltshire SP1 1JD2
£250K05/230.55 mi19, Greencroft Street, Salisbury, Wiltshire SP1 1JF2
£263K12/220.55 mi11, Greencroft Street, Salisbury, Wiltshire SP1 1JF2
£182.5K11/220.58 mi37, St Edmunds Church Street, Salisbury, Wiltshire SP1 1EF2
£230K02/210.59 mi2, Fairview Road, Salisbury, Wiltshire SP1 1JX2
£239.5K04/230.59 mi5, Fairview Road, Salisbury, Wiltshire SP1 1JX2
£272.5K06/210.6 mi11, Melvin Close, Laverstock, Salisbury, Wiltshire SP1 1PG2
£310K09/230.61 mi37, Greenwood Avenue, Laverstock, Salisbury, Wiltshire SP1 1PE2
£240K01/230.62 mi60, St Edmunds Church Street, Salisbury, Wiltshire SP1 1EQ2
£280K04/210.64 mi68, St Edmunds Church Street, Salisbury, Wiltshire SP1 1EQ2
£229.9K01/210.66 mi37, Harnham Road, Salisbury, Wiltshire SP2 8JG2
£260K04/230.69 mi35, Ancient Way, Salisbury, Wiltshire SP2 8TE2
£254K03/230.69 mi37, Ancient Way, Salisbury, Wiltshire SP2 8TE2
£270K08/230.69 mi29, Ancient Way, Salisbury, Wiltshire SP2 8TE2
£262.5K01/230.71 mi11, College Street, Salisbury, Wiltshire SP1 3AL2
£266K07/230.72 mi6, Rowbarrow Lane, Salisbury, Wiltshire SP2 8BY2
£280K06/210.73 mi29, Park Street, Salisbury, Wiltshire SP1 3AT2
£225K08/220.73 mi10, Hughendon Manor, Petersfinger, Salisbury, Wiltshire SP5 3EY2
£240K07/230.74 mi8, Hughendon Manor, Petersfinger, Salisbury, Wiltshire SP5 3EY2
£350K09/210.74 mi76, Park Street, Salisbury, Wiltshire SP1 3AU2
£285K01/230.75 mi11, Senior Drive, Salisbury, Wiltshire SP2 8QB2
£344K02/230.77 mi68, Park Street, Salisbury, Wiltshire SP1 3AU2
£215K02/230.82 mi92, St Marks Road, Salisbury, Wiltshire SP1 3AZ2
£350K08/230.82 mi40, St Marks Road, Salisbury, Wiltshire SP1 3AZ2
£271.5K06/210.89 mi17, High Road, Britford, Salisbury, Wiltshire SP5 4DS2
£253K06/230.89 mi4, Grange Gardens, Salisbury, Wiltshire SP1 3DG2

Local Rents

28 rents from £800/mo to £1.9K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£1,15012/240.34 mi-2
£82509/240.35 miSALISBURY - Milford Hill2
£1,20009/240.49 miElm Grove Road, Salisbury, Wiltshire2
£1,60009/240.51 mi-2
£1,40009/240.6 miNew Street, Salisbury2
£1,60009/240.65 miEndless Street Salisbury SP12
£1,10012/240.68 mi-2
£1,30005/240.69 mi-2
£99509/240.71 miEstcourt Road, Salisbury2
£1,20009/240.72 miPark Street, Salisbury2
£1,00002/240.74 mi-2
£95002/240.75 mi-2
£1,85002/240.88 mi-2
£1,20009/240.91 miFisherton Street, Salisbury 2
£1,40012/230.95 mi-2
£1,40012/230.95 mi-2
£99509/240.97 miFrancis Court, Spire View2
£95009/240.97 miSalisbury2
£80002/250.98 mi-2
£1,10009/241.06 miGeorge Street, Salisbury2
£87509/241.08 miGeorge Street, Salisbury, Wiltshire2
£1,10009/241.08 miChurchfields Road, SALISBURY2
£95009/241.12 miMeadow Road, Salisbury, SP22
£89509/241.13 mi-2
£1,30009/241.14 mi-2
£1,00009/241.14 miSidney Street, Salisbury2
£1,00009/241.17 miSalisbury2
£1,25004/251.18 mi-2

Local Area Statistics

Population in SP1

21,621

Population in Salisbury

93,605

Town centre distance

0.90 miles away

Nearest school

0.20 miles away

Nearest train station

1.07 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

+49%

Sales demand

Seller's market

Capital growth (5yrs)

+9%

Property History

Listed for £199,000

October 29, 2024

Floor Plans

Description

  • END OF TERRACE HOUSE +
  • TWO BEDROOMS +
  • COMPLETE REFURBISHMENT REQUIRED +
  • TWO RECEPTION ROOMS +
  • GF BATHROOM +
  • KITCHEN +
  • CUL DE SAC LOCATION +
  • PVCu DG +
  • NO CHAIN +
  • PAVED GARDEN +

A two bedroom end of terrace house at the end of a no through road and in need of complete refurbishment. NO CHAIN GARDEN **

Description - The property is an end of terrace house which is in need of complete refurbishment and is offered to the market with no onward chain. Situated at the end of a no through road, the house has been tenanted for a long period and all aspects of the house now require modernisation. On the ground floor are two reception rooms, a kitchen and a bathroom, whilst on the first floor are two bedrooms with a dressing room
ursery leading from one of the bedrooms. The house has PVCu double glazing and a paved rear garden. Polden Road lies on the south-eastern outskirts of the city and offers convenient access onto the Southampton Road where there is a Tesco Superstore and the city centre lies approximately a mile away. Other nearby amenities include a Sixth Form College in addition to Salisbury Technical College and there is a convenience store on Tollgate Road. Large deposit required due to the amount of work and not suitable for first time buyers. NO ONWARD CHAIN.

Property Specifics - The accommodation is arranged as follows, all measurements being approximate:

Entrance Hall - Stairs to first floor.

Sitting Room - 3.38m x 3.35m (11'1" x 10'11") - Dual aspect with windows to front and side, tiled fireplace, electric meter.

Dining Room - 3.54m x 3.39m (11'7" x 11'1") - Window to front, tiled fireplace, understair storage cupboard, through to;

Kitchen - 3.35m x 2.35m (10'11" x 7'8") - Base and wall units, sink and drainer under window to front, storage cupboard housing hot water tank and immersion, door to front and to;

Bathroom - Fitted with a white suite comprising panelled bath with shower and shower screen, low level WC, pedestal wash hand basin.

First Floor - Landing - Doors to bedrooms.

Bedroom One - 3.37m x 3.34m (11'0" x 10'11") - Dual aspect with windows to front and side.

Bedroom Two - 3.04m x 2.92m plus recess (9'11" x 9'6" plus reces - Window to front, cupboard.

Dressing Room/Nursery - 2.40m x 1.75m (7'10" x 5'8") - Window to front.

Outside - There is a paved path leading around the house in to a further paved rear garden.

Services - Mains gas, water, electricity and drainage are connected to the property.

Outgoings - The Council Tax Band is ‘C’ and the payment for the year 2024/2025 payable to Wiltshire Council is £2245.28.

Directions - Leave our offices in Salisbury and proceed along Blue Boar Row bearing right in to Brown Street. Turn left in to Milford Street and at the lights turn right into Rampart Road. Towards the junction with Southampton Road turn left into Waterloo Road. Turn right in to Polden Road and the property can be found at the end on the right hand side.

What3words - What3Words reference is: ///youth.stable.traded

Agent Details

Whites, Salisbury

01722 444869

Next Steps?

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