2 Bed Bungalow, Refurb/BRRR, Helston, TR12 7DP, £360,000

Meaver Road, Mullion, Helston, Cornwall, TR12 7DP - 5 months ago

Refurb/BRRR

~149 m²

+10 photos

ValuationUndervalued

Sold Prices	£166K - £387.5K
Sold Prices/m²	£2.5K/m² - £6K/m²

Square Metres	~149.20 m²
Price/m²	£2.4K/m²
Value Estimate	£370,800£370,800
BMV	3%

End Value (After Refurb)	£462,709£462,709
Uplift in Value	+29%+29%

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£90,000£90,000
Stamp Duty & Legal Fees	£24,700£24,700
Refurb Costs	£65,102£65,102
Bridging Loan Interest	£9,450£9,450
Total Cash In	£191,002£191,002

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£462,709£462,709
Mortgage (After Refinance)	£347,032£347,032
Mortgage LTV	75%75%
Cash Released	£77,032£77,032
Cash Left In	£113,970£113,970
Equity	£115,677£115,677
Rent Range	£550 - £1,800£550 - £1,800
Rent Estimate	£1,098
Running Costs/mo	£1,686£1,686
Cashflow/mo	£-588£-588
Cashflow/yr	£-7,051£-7,051
Gross Yield	4%4%

Local Sold Prices

20 sold prices from £166K to £387.5K, average is £297.5K. £2.5K/m² to £6K/m², average is £3.9K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£365K	06/21	0.19 mi	Angwenyn, Meaver Road, Mullion, Helston, Cornwall TR12 7DN	-	-	2	Detached House
£300K	09/21	0.4 mi	18, Gibbons Fields, Mullion, Helston, Cornwall TR12 7EA	£6,035	50	2	Semi-Detached House
£300K	09/21	0.4 mi	18, Gibbons Fields, Mullion, Helston, Cornwall TR12 7EA	£6,035	50	2	Semi-Detached House
£210K	12/21	0.4 mi	26, Gibbons Fields, Mullion, Helston, Cornwall TR12 7EA	£5,385	39	2	Terraced House
£280K	12/20	0.42 mi	Willow End, Churchtown, Mullion, Helston, Cornwall TR12 7BT	£2,456	114	2	Terraced House
£295K	05/21	0.42 mi	St. Michaels Cottage, Churchtown, Mullion, Helston, Cornwall TR12 7BT	£5,086	58	2	Terraced House
£235K	07/23	0.43 mi	Savoy House, Churchtown, Mullion, Helston, Cornwall TR12 7HQ	-	-	2	Terraced House
£285K	06/21	0.44 mi	Mullion Cottage, Churchtown, Mullion, Helston, Cornwall TR12 7HJ	£3,476	82	2	Terraced House
£285K	06/21	0.46 mi	Mullion Cottage, Churchtown, Mullion, Helston, Cornwall TR12 7HJ	£3,476	82	2	Terraced House
£305K	04/22	0.48 mi	Carpenters Cottage, Churchtown, Mullion, Helston, Cornwall TR12 7HN	-	-	2	Semi-Detached House
£387.5K	03/23	0.58 mi	63, Laflouder Fields, Mullion, Helston, Cornwall TR12 7HR	-	-	2	Detached House
£320K	06/21	0.59 mi	88, Laflouder Fields, Mullion, Helston, Cornwall TR12 7EJ	-	-	2	Detached House
£300K	01/21	0.62 mi	Redannack Bungalow, Lender Lane, Mullion, Helston, Cornwall TR12 7HS	£3,191	94	2	Detached House
£250K	01/21	0.68 mi	12, Woodlands, Mullion, Helston, Cornwall TR12 7RN	£2,747	91	2	Semi-Detached House
£320K	06/21	0.69 mi	Chy-an-coth, Laflouder Lane, Mullion, Helston, Cornwall TR12 7HT	£4,384	73	2	Semi-Detached House
£290K	06/21	1.52 mi	Tregweath, Churchtown, Cury, Helston, Cornwall TR12 7BW	-	-	2	Detached House
£331K	07/23	1.52 mi	Tregweath, Churchtown, Cury, Helston, Cornwall TR12 7BW	£5,015	66	2	Detached House
£166K	10/20	1.68 mi	Glen Cottage, White Cross, Cury, Helston, Cornwall TR12 7BH	£2,814	59	2	Semi-Detached House
£255K	11/20	2.3 mi	Little Oaks, Nantithet, Cury, Helston, Cornwall TR12 7RB	£2,452	104	2	Detached House
£325K	12/20	2.84 mi	An Gwilkynuk, Kuggar, Ruan Minor, Helston, Cornwall TR12 7LY	£5,078	64	2	Detached House

Local Rents

12 rents from £550/mo to £1.8K/mo, average is £1.1K/mo.

Rent	Date	Distance	Address	Beds	Type
£1,200	02/25	0.45 mi	-	2	Semi-Detached House
£700	09/24	0.47 mi	Treveglos Court, Lender Lane, Mullion, Helston	1	Flat
£825	09/24	0.59 mi	-	2	Bungalow
£950	03/25	0.59 mi	-	2	Bungalow
£1,800	09/24	0.77 mi	-	4	Detached House
£1,450	12/24	0.92 mi	-	3	Detached House
£1,400	09/24	0.92 mi	-	3	Detached House
£1,100	09/24	1.58 mi	-	1	Bungalow
£900	09/24	2.24 mi	Cury, Helston	2	Detached House
£1,150	01/25	2.3 mi	-	2	Detached House
£550	10/24	2.3 mi	-	1	Detached House
£1,150	01/25	2.3 mi	-	2	Detached House

Local Area Statistics

Population in TR12	9,4829,482
Population in Helston	29,28929,289
Town centre distance	5.33 miles away5.33 miles away
Nearest school	0.20 miles away0.20 miles away
Nearest train station	10.95 miles away10.95 miles away

Rental growth (12m)	+12%+12%
Sales demand	Buyer's marketBuyer's market
Capital growth (5yrs)	+64%+64%

Property History

Price changed to £360,000

March 12, 2025

Listed for £375,000

November 13, 2024

Floor Plans

Description

2/3 Bedroom Detached Bungalow +
Garage +
Distant Sea Views +
Requiring Modernisation +
Popular Coastal Village +
Driveway Parking +
Solar Panels +
Well-Stocked Gardens +
Potential for Conversion +
EPC Rating E +

This 2/3 bedroom detached bungalow, offered with no onward chain, is situated on the outskirts of Mullion village and boasts distant sea views from its elevated position. The property features generously sized rooms, extensive gardens, a garage, and solar panels. Though it requires some modernisation, this property offers an excellent purchase opportunity.

Agent Details

Bradleys, Helston

01326 331638

Next Steps?

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