3 Bed Bungalow, Refurb/BRRR, Hereford, HR2 8BJ, £330,000

Grafton Lane, Grafton, Hereford, HR2 8BJ - 5 months ago

Sold STC
Refurb/BRRR
~93 m²
+12 photos

ValuationOvervalued

Sold Prices£80K - £279.9K
Sold Prices/m²£1K/m² - £6.1K/m²

 

 

Square Metres

~93 m²
Price/m²£3.5K/m²

Value Estimate

£216,469

 

 

End Value (After Refurb)

£255,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£82,500

Stamp Duty & Legal Fees

£21,700

Refurb Costs

£37,702

Bridging Loan Interest

£8,663

Total Cash In

£152,314

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£255,000

Mortgage (After Refinance)

£191,250

Mortgage LTV

75%

Cash Left In

£152,314

Equity

£63,750

Rent Range

£469 - £1,600

Rent Estimate

£849

Running Costs/mo

£987

Cashflow/mo

£-138

Cashflow/yr

£-1,652

Gross Yield

3%

Local Sold Prices

50 sold prices from £80K to £279.9K, average is £198.7K. £1K/m² to £6.1K/m², average is £2.5K/m².

PriceDateDistanceAddressBeds 
£242K12/220.12 mi4, Bardolph Close, Hereford, Herefordshire HR2 7QA3
£187.5K06/210.14 mi4, Quicksetts, Hereford, Hereford And Worcester HR2 7PP3
£210K09/210.16 mi16, Beaufort Avenue, Hereford, Herefordshire HR2 7QD3
£255K07/210.16 mi275, Ross Road, Hereford, Herefordshire HR2 7QJ3
£163K02/210.19 mi26, Marlbrook Road, Hereford, Herefordshire HR2 7NS3
£199.9K09/210.2 mi11, Falstaff Road, Hereford, Herefordshire HR2 7QF3
£222K01/230.2 mi9, Falstaff Road, Hereford, Herefordshire HR2 7QF3
£197.5K12/200.26 mi1, Clover Piece Walk, Hereford, Herefordshire HR2 7SZ3
£239.9K06/230.26 mi6, Clover Piece Walk, Hereford, Herefordshire HR2 7SZ3
£256K02/230.27 mi27, Thoresby Drive, Hereford, Herefordshire HR2 7RF3
£210K08/210.27 mi27, Thoresby Drive, Hereford, Herefordshire HR2 7RF3
£170K08/210.29 mi14, Grafton Walk, Hereford, Herefordshire HR2 7QS3
£215K12/200.3 mi1, Campbell Close, Hereford, Herefordshire HR2 6GH3
£235K11/210.31 mi48, Honddu Close, Hereford, Herefordshire HR2 7NY3
£220K03/210.37 mi1, Bradbury Close, Hereford, Herefordshire HR2 7RX3
£262.5K12/220.37 mi5, Bradbury Close, Hereford, Herefordshire HR2 7RX3
£235K04/210.37 mi8, Bradbury Close, Hereford, Herefordshire HR2 7RX3
£175K11/210.37 mi77, Brampton Road, Hereford, Herefordshire HR2 7DQ3
£157.5K10/200.37 mi75, Brampton Road, Hereford, Herefordshire HR2 7DQ3
£186K02/210.37 mi11, Bluebell Walk, Hereford, Herefordshire HR2 6GP3
£120K06/210.39 mi38, Ethelstan Crescent, Hereford, Herefordshire HR2 7HR3
£195K05/230.39 mi57, Stanberrow Road, Hereford, Herefordshire HR2 7NE3
£172.5K02/210.39 mi57, Stanberrow Road, Hereford, Herefordshire HR2 7NE3
£222.5K01/230.39 mi31, Stanberrow Road, Hereford, Herefordshire HR2 7NE3
£175K11/210.4 mi5, Cobhall Close, Hereford, Herefordshire HR2 7LL3
£200K07/230.4 mi8, Cobhall Close, Hereford, Herefordshire HR2 7LL3
£218K10/200.41 mi5, Kemble Close, Hereford, Herefordshire HR2 7SB3
£200K07/210.42 mi11, Honddu Close, Hereford, Herefordshire HR2 7NX3
£188.5K11/210.42 mi13, Riddimore Avenue, Hereford, Herefordshire HR2 7LJ3
£183K02/210.42 mi4, Riddimore Avenue, Hereford, Herefordshire HR2 7LJ3
£170K12/200.42 mi12, Riddimore Avenue, Hereford, Herefordshire HR2 7LJ3
£263K01/230.43 mi195, Ross Road, Hereford, Herefordshire HR2 7RR3
£220K07/230.43 mi56, Hillside Avenue, Hereford, Herefordshire HR2 7LQ3
£215K03/210.43 mi17, Garrick Avenue, Hereford, Herefordshire HR2 7RU3
£80K04/210.44 mi1, Grosmont Grove, Hereford, Herefordshire HR2 7EG3
£256K02/230.45 mi41, Hillside Avenue, Hereford, Herefordshire HR2 7LG3
£245K04/230.46 mi2, Stable Drive, Hereford, Herefordshire HR2 6SH3
£195K12/220.47 mi5, Ludlow Place, Hereford, Herefordshire HR2 7EB3
£220K06/210.47 mi41, Poppy Walk, Hereford, Herefordshire HR2 6SP3
£133.5K08/210.47 mi5, Ludlow Place, Hereford, Herefordshire HR2 7EB3
£163K03/210.47 mi15, Kilpeck Avenue, Hereford, Herefordshire HR2 7DT3
£185K05/210.48 mi41, Charlton Avenue, Hereford, Herefordshire HR2 7HP3
£190K04/210.48 mi4, Web Tree Avenue, Hereford, Herefordshire HR2 6HG3
£212K06/210.48 mi6, Granary Grove, Hereford, Herefordshire HR2 6RZ3
£182.5K08/210.5 mi4, Brobury Close, Hereford, Herefordshire HR2 7JB3
£146K06/210.51 mi14, Skenfrith Walk, Hereford, Herefordshire HR2 7DP3
£115K12/200.51 mi94, Stanberrow Road, Hereford, Herefordshire HR2 7NB3
£195K06/230.52 mi9, Weobley Close, Hereford, Herefordshire HR2 7EJ3
£279.9K06/210.53 mi179, Ross Road, Hereford, Herefordshire HR2 7RP3
£158K10/200.53 mi13, John Tarrant Close, Hereford, Herefordshire HR2 7JA3

Local Rents

53 rents from £469/mo to £1.6K/mo, average is £825/mo.

RentDateDistanceAddressBeds 
£88512/240.35 miCider Press Drive, Hereford, HR22
£70011/240.35 mi-1
£1,15012/240.45 miThe Hawthorns, Hereford3
£95012/240.5 mi-3
£97510/240.5 mi-3
£97510/240.5 mi-3
£65101/250.53 mi-4
£85008/230.55 mi-2
£1,05012/240.55 miNew Kilvert Road, HEREFORD3
£67512/240.55 miBlakemore Close, HEREFORD2
£62508/230.59 mi-1
£99504/240.64 miEscley Drive, HEREFORD3
£65012/240.65 miHolme Lacy Road, Hereford, HR21
£1,15004/240.69 miWalton Close, HEREFORD3
£1,60004/240.71 miHereford, Herefordshire, HR26
£86504/240.72 miCoppin Rise, Belmont, HEREFORD2
£82012/240.74 miThe Pastures, Hereford, HR22
£85012/240.75 miFlaxley Drive, Hereford2
£70012/240.75 miBelmont Road, Hereford, HR21
£1,05012/240.76 miHawthorn Grove, Hereford, Herefordshire, HR2 6AU2
£70012/240.79 mi-1
£46908/240.82 mi-1
£62503/250.83 mi-1
£60012/240.83 miPeregrine Close, Hereford, HR21
£85004/240.85 miHolm Oak Road, Belmont, HEREFORD2
£82512/240.85 miBelmont Road, Belmont, Hereford, HR22
£82504/240.88 mi-2
£89504/250.88 mi-2
£79512/240.9 mi-1
£79512/240.9 mi-1
£69504/240.91 miBlackthorn Close, Belmont, HEREFORD1
£62512/240.91 miBelmont, Hereford1
£80004/250.94 mi-2
£95012/240.98 miWestholme Road, Belmont, HEREFORD3
£67512/241.15 miSt James, Hereford1
£75003/251.18 mi-1
£1,60012/241.19 miDorchester Way, Hereford, HR26
£79503/241.22 mi-1
£67511/241.23 mi-1
£69502/251.24 mi-1
£87504/241.27 miBridge Street, HEREFORD3
£1,25004/241.28 miBridge Street, Hereford4
£89503/251.34 mi-2
£49502/251.34 mi-1
£72004/241.35 miOld Mill Close, HEREFORD1
£99512/241.35 mi-3
£1,50008/241.37 mi-5
£1,50008/241.37 mi-5
£1,20012/241.38 miSt. Owen Street, Hereford3
£84003/241.38 mi-2
£80011/231.39 mi-2
£64505/241.42 miKernal Road, Hereford1
£57512/241.43 miClive Street, Hereford1

Local Area Statistics

Population in HR2

38,935

Population in Hereford

101,068

Town centre distance

5.33 miles away

Nearest school

0.20 miles away

Nearest train station

1.90 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

-47%

Sales demand

Balanced market

Capital growth (5yrs)

+31%

Property History

Price changed to £330,000

December 26, 2024

Listed for £340,000

November 13, 2024

Floor Plans

Description

  • NO ONWARD CHAIN +
  • In Need Of Modernisation +
  • Off Road Parking +
  • Detached Dorma Bungalow +
  • Great Size Rear Garden +

SUMMARY
Situated to the South of Hereford City centre in a popular and convenient location this wonderful detached Dorma bungalow needs modernisation throughout but could be made into something beautiful. Being offered with NO ONWARD CHAIN this is one you don't want to miss.

DESCRIPTION
Being sold with NO ONWARD CHAIN this three bedroom Dorma bungalow offers great size rooms throughout. Situated in a popular and convenient location South to Herford this lovely home needs modernisation throughout but does have the potential to be something beautiful. The home also has a great size garden to the rear and briefly comprises: Off road parking, garden to the front, entrance hall, lounge, dining room, kitchen, downstairs wet room, two bedrooms, first floor landing, bedroom upstairs and a good size garden to the rear.

Approach 
A drop curb giving access to the tarmac driveway which leads down the side of the home into the carport. To the front of the home you have a great size lawn area with mature shrubs and plants to the boarders. There is access behind the carport which leads to the rear garden and the door to the front leads to:

Entrance Hall 
Double glazed door to front, central heating radiator, stairs to first floor landing, ceiling light point and door to the following.

Lounge 17' 11" into bay x 11' 11" max ( 5.46m into bay x 3.63m max )
Double glazed bay window to front elevation, two central heating radiators, fire place with brick surround and ceiling light point.

Dining Room 10' 11" x 9' 11" ( 3.33m x 3.02m )
Double glazed window to side elevation, central heating radiator, ceiling light point, doors to inner hall with double glazed door to the side which gives access to the rear garden.

Kitchen 10' 4" x 8' 5" ( 3.15m x 2.57m )
Fitted kitchen with wooden wall and base units with roll top work surfaces over, one bowl sink and drainer with splash back tiling to walls, space for cooker with cooker hood over, space for fridge freezer, plumbing for washing machine, ceiling light point and double glazed window to rear elevation.

Bedroom One 9' 11" x 11' 11" ( 3.02m x 3.63m )
Double glazed window to front elevation, central heating radiator and ceiling light point.

Bedroom Three 12' x 13' 5" max ( 3.66m x 4.09m max )
Double glazed window to front elevation, built in wardrobes, central heating radiator and ceiling light point.

Wet Room 
A good size wet room which briefly comprises: low level WC, wash hand basin, fully tiled, extractor fan, double glazed obscure window to side elevation, central heating radiator and ceiling light point.

First Floor Landing 
Double glazed window to side elevation, ceiling light point and doors to bedrooms.

Bedroom Two 10' 2" plus recess x 9' 11" ( 3.10m plus recess x 3.02m )
Double glazed window to side elevation, central heating radiator and ceiling light point.

Rear Garden 
A great size garden to the rear which is mainly lawn to lawn with mature shrubs and fencing to the boarders with access leading back to the front of the home.

1. MONEY LAUNDERING REGULATIONS - Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2: These particulars do not constitute part or all of an offer or contract.
3: The measurements indicated are supplied for guidance only and as such must be considered incorrect.
4: Potential buyers are advised to recheck the measurements before committing to any expense.
5: Connells has not tested any apparatus, equipment, fixtures, fittings or services and it is the buyers interests to check the working condition of any appliances.
6: Connells has not sought to verify the legal title of the property and the buyers must obtain verification from their solicitor.

Agent Details

Connells, Hereford

01432 802236

Next Steps?

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

Similar Properties

Like this property? Maybe you'll like these ones close by too.