2 Bed Flat, Refurb/BRRR, Bideford, EX39 1BL, £120,000

20 College Close, Westward Ho! Bideford, EX39 1BL. - 5 months ago

Leasehold

Refurb/BRRR

~79 m²

+9 photos

ValuationFair Value

Sold Prices	£88K - £435K
Sold Prices/m²	£1.9K/m² - £3.9K/m²

Square Metres	~79 m²
Price/m²	£1.5K/m²
Value Estimate	£121,200£121,200

End Value (After Refurb)	£245,172£245,172
Uplift in Value	+104%+104%
You could potentially get back more cash than you put into this deal. All your cash out plus £19,753 extra. See the breakdown

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£30,000£30,000
Stamp Duty & Legal Fees	£7,200£7,200
Refurb Costs	£32,026£32,026
Bridging Loan Interest	£3,150£3,150
Total Cash In	£74,126£74,126

Cash Out
Monetisation	FlipRefinance & RentFlip
Estimated Sale Price	£245,172£245,172
Agent Fees (1%)	£2,452£2,452
Bridging Loan	£90,000£90,000
Bridging Loan Interest	£3,150£3,150
Flip Profit	£78,595£78,595

Local Sold Prices

26 sold prices from £88K to £435K, average is £179.5K. £1.9K/m² to £3.9K/m², average is £2.6K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£222.5K	03/23	0.07 mi	Flat 5, Puffin Court, Bay View Road, Northam, Bideford, Devon EX39 1AF	-	-	2	Flat
£175K	03/23	0.07 mi	Flat 10, Puffin Court, Bay View Road, Northam, Bideford, Devon EX39 1AF	-	-	2	Flat
£147K	12/20	0.1 mi	Flat 3, Puffin Court, Bay View Road, Northam, Bideford, Devon EX39 1AF	-	-	2	Flat
£246K	03/21	0.11 mi	22, Stanwell Drive, Westward Ho, Bideford, Devon EX39 1HE	£2,621	94	2	Flat
£270K	12/20	0.11 mi	18, Stanwell Drive, Westward Ho, Bideford, Devon EX39 1HE	£3,103	87	2	Flat
£184K	06/23	0.16 mi	Flat 21, Kipling Court, Kipling Terrace, Westward Ho, Bideford, Devon EX39 1HY	£2,329	79	2	Flat
£117.5K	04/23	0.16 mi	Flat 10, Kipling Court, Kipling Terrace, Westward Ho, Bideford, Devon EX39 1HY	-	-	2	Flat
£135K	10/20	0.16 mi	Flat 1, Kipling Court, Kipling Terrace, Westward Ho, Bideford, Devon EX39 1HY	£1,875	72	2	Flat
£123K	01/21	0.18 mi	Flat 15, Kipling Court, Kipling Terrace, Westward Ho, Bideford, Devon EX39 1HY	-	-	2	Flat
£198.5K	12/22	0.2 mi	Flat 18, Kipling Court, Kipling Terrace, Westward Ho, Bideford, Devon EX39 1HY	-	-	2	Flat
£275K	07/21	0.28 mi	Flat 38, Ocean Park, Atlantic Way, Westward Ho, Bideford, Devon EX39 1NA	-	-	2	Flat
£240K	11/20	0.28 mi	Flat 22, Ocean Park, Atlantic Way, Westward Ho, Bideford, Devon EX39 1NA	-	-	2	Flat
£230K	04/21	0.28 mi	Flat 8, Ocean Park, Atlantic Way, Westward Ho, Bideford, Devon EX39 1NA	-	-	2	Flat
£250K	10/20	0.28 mi	Flat 25, Ocean Park, Atlantic Way, Westward Ho, Bideford, Devon EX39 1NA	-	-	2	Flat
£290K	06/23	0.28 mi	Flat 17, Ocean Park, Atlantic Way, Westward Ho, Bideford, Devon EX39 1NA	£3,919	74	2	Flat
£435K	11/22	0.29 mi	Flat 9, Horizon View, Bath Hotel Road, Westward Ho, Bideford, Devon EX39 1GX	-	-	2	Flat
£340K	03/21	0.32 mi	Flat 35, Horizon View, Bath Hotel Road, Westward Ho, Bideford, Devon EX39 1GX	-	-	2	Flat
£325K	10/20	0.32 mi	Flat 14, Horizon View, Bath Hotel Road, Westward Ho, Bideford, Devon EX39 1GX	-	-	2	Flat
£145K	07/21	0.49 mi	6, The Fairways, Westward Ho, Bideford, Devon EX39 1TQ	£3,718	39	2	Flat
£102.5K	06/21	0.59 mi	49, Kala Fair, Westward Ho, Bideford, Devon EX39 1TX	£1,983	52	2	Flat
£88K	03/21	0.59 mi	37, Kala Fair, Westward Ho, Bideford, Devon EX39 1TX	£1,956	45	2	Flat
£137.5K	10/22	0.62 mi	62, Kala Fair, Westward Ho, Bideford, Devon EX39 1TX	£3,056	45	2	Flat
£173K	11/21	0.72 mi	20, Dolphin Court, Northam, Bideford, Devon EX39 1BQ	£2,883	60	2	Flat
£169K	05/21	0.72 mi	7, Dolphin Court, Northam, Bideford, Devon EX39 1BQ	£2,600	65	2	Flat
£172K	01/21	0.72 mi	18, Dolphin Court, Northam, Bideford, Devon EX39 1BQ	£2,810	61	2	Flat
£142K	01/21	0.72 mi	10, Dolphin Court, Northam, Bideford, Devon EX39 1BQ	£2,254	63	2	Flat

Local Rents

17 rents from £640/mo to £1.1K/mo, average is £775/mo.

Rent	Date	Distance	Address	Beds	Type
£850	10/24	0.16 mi	-	2	Flat
£1,100	04/24	0.46 mi	Golf Links Road, Westward Ho, Bideford	2	Bungalow
£850	04/24	0.55 mi	Ridgeway Court, Westward Ho, EX39	2	Semi-Detached House
£850	05/24	0.55 mi	-	2	Semi-Detached House
£950	03/24	0.59 mi	-	2	Bungalow
£950	06/24	0.59 mi	-	2	Bungalow
£640	04/24	0.61 mi	Kala Fair, Westward Ho	2	Flat
£650	10/23	0.73 mi	-	2	Bungalow
£755	04/24	0.73 mi	-	2	Bungalow
£725	09/24	0.73 mi	-	2	Bungalow
£715	04/25	0.73 mi	-	2	Flat
£775	10/23	0.74 mi	-	2	Flat
£825	04/24	1.02 mi	Fore Street, Bideford, Devon	2	Flat
£725	10/24	1.03 mi	-	2	Flat
£750	05/24	1.09 mi	Carnegie North, Clevelands Park, Northam, Bideford, EX39	2	Flat
£750	05/24	1.09 mi	Carnegie North, Clevelands Park, Northam, Bideford, EX39	2	Flat
£800	05/24	1.12 mi	North Street, Bideford, Devon	2	House

Local Area Statistics

Population in EX39	37,17537,175
Town centre distance	1.97 miles away1.97 miles away
Nearest school	1 miles away1 miles away
Nearest train station	7.97 miles away7.97 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+5%+5%
Sales demand	Buyer's marketBuyer's market
Capital growth (5yrs)	+21%+21%

Property History

Listed for £120,000

November 7, 2024

Floor Plans

Description

Modern Ground Floor Flat +
In Need Of Renovation +
15' Living Room +
13' Kitchen +
2 Double Bedrooms +
Bathroom +
Garage +
Vacant - No Ongoing Chain +

* PUBLIC NOTICE * DATE OF NOTICE: 08/11/24. 20 College Close, Westward Ho! Bideford, EX39 1BL. We advise that an offer has been made for the above property in the sum of £120,000.00. Any persons wishing to increase on this offer should notify the agents of their best offer prior to exchange of contracts. John Smale & Co, 5 Cross Street, Barnstaple, EX31 1BA. . Situated in a well thought of modern but nicely matured development just off Bay View Road, this ground floor flat is offered with immediate possession. Improvement works are required and this is more than reflected in the sensible asking price. Both villages of Northam and Westward Ho! are within easy reach with a good range of facilities and amenities together with the long sandy beach at Westward Ho! Bideford, the nearest town, is about 3 miles and the nearby A39 Link Road gives easy access to Barnstaple, the regional centre of North Devon.

Agent Details

John Smale & Co, Barnstaple

01271 443504

Next Steps?

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