2 Bed Bungalow, Refurb/BRRR, Canvey Island, SS8 7EW, £275,000

Juliers Road, Canvey Island, SS8 7EW - 8 views - 6 months ago

Sold STC
Refurb/BRRR
ROI: 1%
~68 m²
+8 photos

ValuationFair Value

Sold Prices£160K - £376K
Sold Prices/m²£3.3K/m² - £7.4K/m²

 

 

Square Metres

~68.11 m²
Price/m²£4K/m²

Value Estimate

£275,000

 

 

End Value (After Refurb)

£300,435

Uplift in Value

+9%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£68,750

Stamp Duty & Legal Fees

£10,700

Refurb Costs

£33,299

Bridging Loan Interest

£7,219

Total Cash In

£121,717

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£300,435

Mortgage (After Refinance)

£225,326

Mortgage LTV

75%

Cash Released

£19,076

Cash Left In

£102,641

Equity

£75,109

Rent Range

£850 - £4,000

Rent Estimate

£1,345

Running Costs/mo

£1,228

Cashflow/mo

£117

Cashflow/yr

£1,406

ROI

1%

Gross Yield

6%

Local Sold Prices

50 sold prices from £160K to £376K, average is £269K. £3.3K/m² to £7.4K/m², average is £4.3K/m².

PriceDateDistanceAddressBeds 
£240K10/230.03 mi3, Juliers Road, Canvey Island, Essex SS8 7EW2
£268K06/210.03 mi11, Juliers Road, Canvey Island, Essex SS8 7EW2
£260K03/210.08 mi14, Delgada Road, Canvey Island, Essex SS8 7JR2
£275K03/210.1 mi19, Bramble Road, Canvey Island, Essex SS8 7EB2
£320K04/230.1 mi19, Bramble Road, Canvey Island, Essex SS8 7EB2
£310K06/230.11 mi22, Maurice Road, Canvey Island, Essex SS8 7JN2
£240K06/210.11 miOakville, Nightingale Road, Canvey Island, Essex SS8 7EF2
£277K01/240.12 mi41a, Maurice Road, Canvey Island, Essex SS8 7JL2
£310K11/210.12 mi25, Maurice Road, Canvey Island, Essex SS8 7JL2
£295K10/230.15 mi21a, May Avenue, Canvey Island, Essex SS8 7EE2
£266K06/210.15 mi17b, Maurice Road, Canvey Island, Essex SS8 7JL2
£250K09/210.15 mi26, Normans Road, Canvey Island, Essex SS8 7SN2
£160K06/210.17 mi15a, Normans Road, Canvey Island, Essex SS8 7SN2
£230K11/200.17 mi14a, Normans Road, Canvey Island, Essex SS8 7SN2
£250K12/200.17 mi3a, May Avenue, Canvey Island, Essex SS8 7EE2
£300K08/230.19 mi22, Taranto Road, Canvey Island, Essex SS8 7LH2
£340K12/230.19 mi36, Taranto Road, Canvey Island, Essex SS8 7LH2
£230K01/210.2 mi5, Arcadia Road, Canvey Island, Essex SS8 7SP2
£247K07/230.21 mi57, Taranto Road, Canvey Island, Essex SS8 7LQ2
£240K03/210.22 mi52, Hope Road, Canvey Island, Essex SS8 7LL2
£235K01/210.22 mi83, May Avenue, Canvey Island, Essex SS8 7EY2
£260K06/210.23 mi21a, Labworth Road, Canvey Island, Essex SS8 7BP2
£255K02/210.23 mi25b, Labworth Road, Canvey Island, Essex SS8 7BP2
£260K03/240.23 mi7, Labworth Road, Canvey Island, Essex SS8 7BP2
£325K09/230.23 mi5, Hope Road, Canvey Island, Essex SS8 7LJ2
£285K11/200.25 mi67, May Avenue, Canvey Island, Essex SS8 7EY2
£250K04/230.25 mi22, Teramo Road, Canvey Island, Essex SS8 7LW2
£325K06/230.27 mi10, Lappmark Road, Canvey Island, Essex SS8 7SZ2
£270K12/200.28 mi10, Telese Avenue, Canvey Island, Essex SS8 7LR2
£280K07/230.29 mi53, Westerland Avenue, Canvey Island, Essex SS8 8JS2
£311K05/210.29 mi6, Chamberlain Avenue, Canvey Island, Essex SS8 8AG2
£310K05/230.3 mi5, Oak Road, Canvey Island, Essex SS8 7AX2
£280.5K02/230.3 mi16, Gills Avenue, Canvey Island, Essex SS8 7RG2
£300K01/230.32 mi44, Atherstone Road, Canvey Island, Essex SS8 7DE2
£265K02/230.32 mi9, Baardwyk Avenue, Canvey Island, Essex SS8 8NU2
£275K01/240.32 mi8, Smallgains Avenue, Canvey Island, Essex SS8 8JQ2
£297.5K09/210.32 mi2, Stevens Close, Canvey Island, Essex SS8 8JP2
£300K09/230.33 mi53, Margraten Avenue, Canvey Island, Essex SS8 7JD2
£275K01/240.34 mi66b, Margraten Avenue, Canvey Island, Essex SS8 7JE2
£250K11/200.34 mi4, Fleetwood Close, Canvey Island, Essex SS8 7NR2
£255K05/210.35 mi49, Gainsborough Avenue, Canvey Island, Essex SS8 7LU2
£350K03/230.36 mi6, Keer Avenue, Canvey Island, Essex SS8 7NS2
£370K09/230.36 mi5, Larup Avenue, Canvey Island, Essex SS8 8AD2
£250K04/210.37 mi19, The Parkway, Canvey Island, Essex SS8 0AA2
£267K08/210.37 mi56, Keer Avenue, Canvey Island, Essex SS8 7NS2
£237.5K02/210.38 mi99a, Maurice Road, Canvey Island, Essex SS8 7HS2
£376K07/230.39 mi103, Maurice Road, Canvey Island, Essex SS8 7HS2
£234K02/210.4 mi6, Korndyk Avenue, Canvey Island, Essex SS8 8AB2
£360K04/230.4 mi18, Station Road, Canvey Island, Essex SS8 7ND2
£246K06/210.4 mi22, Limetree Road, Canvey Island, Essex SS8 8JW2

Local Rents

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

RentDateDistanceAddressBeds 
£1,20009/240.11 miNormans Road, Canvey Island2
£1,20009/240.18 miSan Remo Road, Canvey Island, Essex3
£1,00004/250.25 mi-1
£1,15009/240.25 miBeach Heights Apartments 2
£1,28009/240.26 mi-2
£97510/230.26 mi-1
£1,05004/250.26 mi-1
£85009/240.27 mi33 Venables Court1
£1,50009/240.29 mi-3
£1,60001/250.29 mi-3
£4,00003/250.31 mi-4
£1,65003/250.35 mi-3
£1,35002/240.4 mi-3
£1,50009/240.49 mi-3
£2,05009/240.55 mi-4
£85009/240.59 miNewlands Road, Canvey Island, Essex1
£1,60009/240.65 miSouth Parade, Canvey Island3
£1,45012/240.68 mi-2
£1,90004/250.69 mi-3
£1,50009/240.7 miThames Court, Western Esplanade, Canvey Island, Essex1
£2,65001/250.79 mi-5
£1,20003/250.8 mi-2
£1,30009/240.82 miStanford Road, Canvey Island3
£1,10009/240.86 mi16 Beck 2
£1,70001/250.91 mi-3
£1,25004/251.02 mi-2
£1,40001/251.03 mi-3
£1,77502/251.05 mi-3
£2,40003/251.07 mi-4
£2,37504/251.1 mi-4
£2,75004/251.12 mi-4
£2,80004/251.15 mi-4
£2,90004/251.15 mi-5
£2,35003/251.17 mi-4
£3,40004/251.22 mi-5
£1,52512/241.25 mi-4
£95009/241.25 miCherry Court,Canvey Island,Essex1
£2,00009/241.26 miHawkesbury Road, Canvey Island3
£85001/251.27 mi-1
£3,00004/251.3 mi-4
£1,07501/251.3 mi-2
£1,39509/241.3 mi-3
£3,40004/251.35 mi-6
£1,50003/251.36 mi-4
£1,35009/241.36 miCentral Avenue, Canvey Island2
£1,55004/251.41 mi-3
£3,10002/251.42 mi-4
£3,20012/241.48 mi-6
£1,35009/241.51 mi3 bedroom Terraced House in Canvey Island3
£2,00009/241.53 mi-4

Local Area Statistics

Population in SS8

38,134

Population in Canvey Island

38,138

Town centre distance

0.69 miles away

Nearest school

0.30 miles away

Nearest train station

2.28 miles away

 

 

Rental growth (12m)

+72%

Sales demand

Seller's market

Capital growth (5yrs)

+21%

Property History

Listed for £275,000

November 7, 2024

Floor Plans

Description

  • Two Bedroom Detached Bungalow In Need Of Complete Modernisation +
  • No Onward Chain +
  • Favoured Local Area Close To Town Centre and Seafront +
  • Detached garage +
  • Good Sized Lounge +
  • Kitchen At Rear +
  • Good Potential for First Purchase or Investment +
  • Off Road Driveway Parking +
  • Property Needs Total Renovation Please Take Into Account Prior To Viewing +

Guide Price £275,000 to £285,000 A two-bedroom detached bungalow In need of complete renovation.

The property is offered with no onward chain and ands presents a unique opportunity for buyers seeking a property brimming with potential. The property is ideal for those looking to make their mark on a property with great scope for renovation and modernisation.

The property boasts a detached garage and off-road driveway parking, providing convenient storage options and ample space for vehicles.

The accommodation comprises: Two bedrooms, a large family lounge, kitchen and a bathroom

It's important to note that this property requires complete modernisation and renovation, making it an ideal project for those looking to create their perfect home. The potential for this property as a first purchase or investment is evident, with the opportunity to add significant value through thoughtful upgrades and enhancements.

Buyers should consider the property's need for renovation prior to viewing, ensuring that they are prepared to take on this exciting challenge. With a bit of vision and effort, this bungalow has the potential to be transformed into a lovely home that suits the needs and tastes of its new owners.

Don't miss out on the chance to own a property in a sought-after location with endless possibilities for customisation and improvement. Contact us today to arrange a viewing and explore the potential that this property holds for you.

Young's Residential are a family run estate agency business. We cover all of the Local areas and are available outside of normal office hours.

Please visit the Young's Residential website or our social media pages to obtain our contact information and register for property updates. Also do check out our website and YouTube channel for video fly-throughs and drone footage of our properties.

If you would like a FREE valuation on your own property, please contact us at any time.

Agent Details

Youngs Residential, Covering Essex

01268 202940

Next Steps?

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