3 Bed Bungalow, Refurb/BRRR, Bognor Regis, PO22 7TT, £425,000

Central Drive, Elmer Beach Estate, PO22 7TT - 4 months ago

Sold STC
Refurb/BRRR
~93 m²
+9 photos

ValuationOvervalued

Sold Prices£222K - £758.3K
Sold Prices/m²£2.4K/m² - £6.4K/m²

 

 

Square Metres

~93 m²
Price/m²£4.6K/m²

Value Estimate

£360,000

 

 

End Value (After Refurb)

£408,500

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£106,250

Stamp Duty & Legal Fees

£22,700

Refurb Costs

£43,401

Bridging Loan Interest

£11,156

Total Cash In

£185,257

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£408,500

Mortgage (After Refinance)

£306,375

Mortgage LTV

75%

Cash Left In

£185,257

Equity

£102,125

Rent Range

£100 - £3,250

Rent Estimate

£1,396

Running Costs/mo

£1,576

Cashflow/mo

£-180

Cashflow/yr

£-2,157

Gross Yield

4%

Local Sold Prices

40 sold prices from £222K to £758.3K, average is £358.5K. £2.4K/m² to £6.4K/m², average is £3.9K/m².

PriceDateDistanceAddressBeds 
£395K06/210.09 mi9, Lane End Road, Bognor Regis, West Sussex PO22 6LL3
£360K06/210.14 mi17, Lodge Close, Bognor Regis, West Sussex PO22 6NF3
£567.5K05/230.15 mi50, Southdean Close, Bognor Regis, West Sussex PO22 7TH3
£315K02/230.16 mi22, Lane End Road, Bognor Regis, West Sussex PO22 6LT3
£350K01/210.18 mi5, Lodge Close, Bognor Regis, West Sussex PO22 6NF3
£310K11/200.19 mi7a, Main Drive, Bognor Regis, West Sussex PO22 7TN3
£325K05/210.21 mi3, North Avenue, Bognor Regis, West Sussex PO22 6HF3
£265K10/200.24 mi3, Douglas Close, Bognor Regis, West Sussex PO22 7UE3
£415K02/240.24 mi3, Kingsmead Road, Bognor Regis, West Sussex PO22 6NE3
£370K07/230.24 mi1, Kingsmead Road, Bognor Regis, West Sussex PO22 6NE3
£379.9K05/210.24 mi3, Kingsmead Road, Bognor Regis, West Sussex PO22 6NE3
£469K05/230.26 mi8, Norfolk Way, Bognor Regis, West Sussex PO22 6JF3
£310K03/210.26 mi7, Alfred Close, Bognor Regis, West Sussex PO22 7UF3
£675K04/230.29 mi5, Southdean Drive, Bognor Regis, West Sussex PO22 7TA3
£375K07/210.3 mi23, Sunnymead Close, Bognor Regis, West Sussex PO22 6LS3
£240K05/230.3 mi12, Sunnymead Close, Bognor Regis, West Sussex PO22 6LS3
£365K11/220.31 mi3, Manor Way, Elmer, Bognor Regis, West Sussex PO22 6LA3
£325K07/230.32 mi5, Lucking Lane, Bognor Regis, West Sussex PO22 6HP3
£365K06/230.32 mi24, Lucking Lane, Bognor Regis, West Sussex PO22 6HP3
£375K12/200.4 mi2, Hampden Close, Bognor Regis, West Sussex PO22 7SN3
£405K08/210.4 mi7, Hampden Close, Bognor Regis, West Sussex PO22 7SN3
£758.3K11/210.46 mi12, Harefield Road, Bognor Regis, West Sussex PO22 6EB3
£485K02/210.48 mi12, Beaconsfield Close, Bognor Regis, West Sussex PO22 7SH3
£450K06/210.51 mi18, Sea Way, Elmer, Bognor Regis, West Sussex PO22 6JY3
£650K12/220.54 miElm Tree Cottage, Yapton Road, Middleton On Sea, Bognor Regis, West Sussex PO22 6DX3
£415K09/230.56 miRiseley Cottage, Yapton Road, Middleton On Sea, Bognor Regis, West Sussex PO22 6DX3
£515K02/240.61 miBox Cottage, Sundale Lane, Bognor Regis, West Sussex PO22 6DS3
£308.5K07/230.69 mi39, Ilex Way, Middleton On Sea, Bognor Regis, West Sussex PO22 6PE3
£297K04/210.73 mi47, Ilex Way, Bognor Regis, West Sussex PO22 6PN3
£325K06/230.75 mi58, Silver Birch Drive, Bognor Regis, West Sussex PO22 6SJ3
£275K01/210.8 mi2, Marlowe Close, Bognor Regis, West Sussex PO22 6RZ3
£287.5K05/230.85 mi14, Templars Close, Bognor Regis, West Sussex PO22 6RU3
£222K11/200.86 mi26, Merlin Way, Bognor Regis, West Sussex PO22 6RN3
£264.7K05/210.89 mi9, Montgomery Drive, Bognor Regis, West Sussex PO22 6RS3
£295K09/230.89 mi9, Montgomery Drive, Bognor Regis, West Sussex PO22 6RS3
£240K11/200.89 mi8, Montgomery Drive, Bognor Regis, West Sussex PO22 6RE3
£295K03/240.92 mi22, Kynon Gardens, Bognor Regis, West Sussex PO22 6RF3
£257.5K09/210.95 mi7, Baldwin Close, Bognor Regis, West Sussex PO22 6RQ3
£425K12/210.97 mi105, Flansham Park, Bognor Regis, West Sussex PO22 6RD3
£357K09/210.97 mi11, Leverton Avenue, Bognor Regis, West Sussex PO22 7RA3

Local Rents

50 rents from £100/mo to £3.3K/mo, average is £1.2K/mo.

RentDateDistanceAddressBeds 
£1,20012/240.13 mi-2
£10006/240.14 miElmer Road, Bognor Regis1
£97507/240.14 miElmer Road, BOGNOR REGIS2
£2,75008/240.15 miElmer Road, Elmer4
£92506/240.15 mi154-160 Elmer Road, Bognor Regis, PO221
£1,20007/240.26 miAlfred Close, Bognor Regis2
£1,89506/240.28 miAncton Close, Elmer, Bognor Regis, PO223
£82502/250.3 mi-2
£89502/250.3 mi-2
£1,19507/240.4 miHarefield Gardens, Middleton on Sea2
£2,75006/240.47 mi7 Sea Way, Elmer, Bognor Regis, PO22 6JX3
£3,25006/240.5 miAncton Way, Bognor Regis4
£1,00007/240.52 miSea Close, Bognor Regis1
£95008/240.52 miSea Close Bognor Regis PO221
£3,25006/240.54 miAncton Way, Elmer, Bognor Regis, PO224
£95007/240.62 miMiddleton-on-Sea, Bognor Regis, PO221
£1,59507/240.64 miJuniper Close, Middleton-On-Sea3
£1,25007/240.67 miSilver Birch Drive, Middleton On Sea, Bognor Regis, PO222
£1,20007/240.67 miSilver Birch Drive, Middleton On Sea, Bognor Regis, PO222
£85006/240.71 miSatinwood Close, Middleton-On-Sea, PO221
£1,22508/240.75 miMiddleton-On-Sea2
£1,20007/240.95 miBaldwin Close, Bognor Regis2
£1,25008/240.98 miHenfield Way, Bognor Regis, PO222
£1,25008/240.99 miHenfield Way, Felpham, Bognor Regis, PO222
£1,55001/251 mi-3
£2,99508/241.07 miCrossbush Road, Felpham, Bognor Regis, PO224
£1,30007/241.08 miFindon Drive, PO223
£1,15007/241.21 miFittleworth Drive, BOGNOR REGIS2
£1,80006/241.32 miNorthwyke Road, BOGNOR REGIS3
£1,20009/241.33 miSloe Gardens, Felpham2
£1,10007/241.34 miNorthwyke Close, Bognor Regis2
£1,10007/241.34 miNorthwyke Close, Bognor Regis2
£1,70007/241.4 miThistle Copse Felpham PO223
£1,29506/241.41 miSouthview Road, Bognor Regis, PO222
£1,85006/241.43 miBlackthorn Avenue, Felpham4
£87506/241.48 miFelpham Way, Felpham2
£1,45007/241.5 miBlackberry Copse, Felpham3
£1,29506/241.51 miSummerley Point, Summerley Lane, Felpham, PO222
£2,50006/241.54 miThe Beach House5
£1,40006/241.57 miHaywards Close, Bognor Regis, PO223
£1,60009/241.59 miOuterwyke Road, Bognor Regis3
£87508/241.61 miBroomfield Way, Felpham, Bognor Regis, PO221
£68407/241.64 miBroom Field Way, Bognor Regis, PO221
£69906/241.64 mi-1
£70006/241.64 mi-1
£69601/241.64 mi-1
£85007/241.65 miMeaden Way, Felpham, Bognor Regis, West Sussex, PO221
£1,29512/241.68 miDouglas Close, Ford, Arundel3
£95007/241.68 miOuterwyke Road, Felpham2
£1,60005/241.69 mi-2

Local Area Statistics

Population in PO22

28,866

Population in Bognor Regis

68,380

Town centre distance

2.91 miles away

Nearest school

1.10 miles away

Nearest train station

2.90 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

-14%

Sales demand

Balanced market

Capital growth (5yrs)

+17%

Property History

Listed for £425,000

November 14, 2024

Floor Plans

Description

  • Attractive Detached Bungalow +
  • Private Road Location +
  • Less than 150m from the Beach +
  • Ample Parking and Garage +
  • Three Generous Bedrooms +
  • Opportunity for Modernisation +
  • Sole Agents +

This charming three bedroom detached bungalow is located in a highly desirable private road in Elmer Sands, less than 150m from the beach. The property requires modernisation, making it an ideal property for a new owner to create their dream home by the sea.   A true bungalow, arranged over a single storey, the surprisingly spacious accommodation includes a sitting room with south facing seating area, three generously sized double bedrooms, kitchen and conservatory that opens out onto the rear garden.   To the front of the property there are two driveways and a carport to one side leading to the garage, and a front garden area with shrubbery. The rear garden is mainly laid to lawn with shrub and flower borders.   Early viewing is highly recommended to appreciate the size of the bungalow and the superb seaside location. Private Estate Charge: We understand that the private estate charge is £130 p.a.

EPC Rating: D

Agent Details

Henry Adams, Middleton-On-Sea

01243 973056

Next Steps?

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