2 Bed Flat, Refurb/BRRR, Southend-on-Sea, SS2 5JY, £220,000

204 Woodgrange Drive, Southend-on-Sea, Essex, SS1 2SJ - 5 months ago

Sold STC
Leasehold
Refurb/BRRR
ROI: 5%
~68 m²
+7 photos

ValuationFair Value

Sold Prices£75K - £440K
Sold Prices/m²£2.3K/m² - £5.3K/m²

 

 

Square Metres

~68.40 m²
Price/m²£3.2K/m²

Value Estimate

£221,029

 

 

End Value (After Refurb)

£237,550

Uplift in Value

+8%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£55,000

Stamp Duty & Legal Fees

£12,200

Refurb Costs

£32,939

Bridging Loan Interest

£5,775

Total Cash In

£107,664

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£237,550

Mortgage (After Refinance)

£178,163

Mortgage LTV

75%

Cash Released

£13,163

Cash Left In

£94,502

Equity

£59,388

Rent Range

£950 - £4,250

Rent Estimate

£1,460

Running Costs/mo

£1,054

Cashflow/mo

£406

Cashflow/yr

£4,868

ROI

5%

Gross Yield

8%

Local Sold Prices

51 sold prices from £75K to £440K, average is £200K. £2.3K/m² to £5.3K/m², average is £3.4K/m².

PriceDateDistanceAddressBeds 
£220K02/230.06 mi485a, Sutton Road, Southend-on-sea SS2 5PL2
£210K08/230.06 mi473b, Sutton Road, Southend-on-sea SS2 5PL2
£248K08/230.11 mi180, East Street, Southend-on-sea SS2 5EA2
£220K03/230.18 mi126, East Street, Southend-on-sea SS2 5EE2
£210K12/200.2 mi96, Ennismore Gardens, Southend-on-sea SS2 5RB2
£218K11/210.2 mi96a, Ennismore Gardens, Southend-on-sea SS2 5RB2
£237.5K05/230.2 mi108a, Ennismore Gardens, Southend-on-sea SS2 5RB2
£275K12/220.3 mi339, Bournemouth Park Road, Southend-on-sea SS2 5LQ2
£75K04/210.36 miFlat 27, Martins Court, Stadium Road, Southend-on-sea SS2 5DH2
£235K01/210.38 mi2a, Dryden Avenue, Southend-on-sea SS2 5EU2
£145K07/210.41 mi24, Tunbridge Road, Southend-on-sea SS2 6LT2
£220K12/230.41 mi24a, Tunbridge Road, Southend-on-sea SS2 6LT2
£210K09/210.46 mi41, Central Avenue, Southend-on-sea SS2 5HR2
£202.5K02/210.52 mi29, South Avenue, Southend-on-sea SS2 5JA2
£200K09/210.53 mi70a, South Avenue, Southend-on-sea SS2 5JB2
£200K09/210.54 mi70a, South Avenue, Southend-on-sea SS2 5JB2
£200K09/210.56 mi43a, Swanage Road, Southend-on-sea SS2 5HX2
£140.5K03/210.64 mi40, Sutton Road, Southend-on-sea SS2 5EW2
£210K12/200.68 mi107, Rylands Road, Southend-on-sea SS2 4LL2
£240K09/210.69 mi55, Shakespeare Drive, Westcliff-on-sea, Southend-on-sea SS0 9AA2
£200K02/210.69 mi69a, Wimborne Road, Southend-on-sea SS2 4JR2
£235K03/230.73 mi49a, Boston Avenue, Southend-on-sea SS2 6JH2
£265K12/230.73 mi57, Boston Avenue, Southend-on-sea SS2 6JH2
£200K03/210.73 mi78, Boscombe Road, Southend-on-sea SS2 4JP2
£180K05/210.73 mi101a, Boscombe Road, Southend-on-sea SS2 4JP2
£196K03/210.74 mi48b, Seaforth Grove, Southend-on-sea SS2 4EW2
£198K04/210.74 mi40a, Westbury Road, Southend-on-sea SS2 4DP2
£209K12/200.74 mi262, Central Avenue, Southend-on-sea SS2 4EE2
£177K03/210.78 mi11a, Oban Road, Southend-on-sea SS2 4JJ2
£177K03/210.78 mi11a, Oban Road, Southend-on-sea SS2 4JJ2
£440K12/200.78 mi1, Beeleigh Close, Southend-on-sea SS2 6PA2
£210K12/200.79 mi51a, Eastcote Grove, Southend-on-sea SS2 4QA2
£190K11/200.79 mi14, Thornford Gardens, Southend-on-sea SS2 6PU2
£160K07/210.8 mi2a, Trinity Road, Southend-on-sea SS2 4HJ2
£170K03/230.8 mi46, Eastcote Grove, Southend-on-sea SS2 4QB2
£245K05/230.8 mi11a, Shakespeare Avenue, Westcliff-on-sea, Southend-on-sea SS0 0ST2
£190K12/200.81 mi19, Rayleigh Avenue, Westcliff-on-sea, Southend-on-sea SS0 7DS2
£200K06/210.81 mi31a, Christchurch Road, Southend-on-sea SS2 4JS2
£165K10/230.81 mi7a, Rayleigh Avenue, Westcliff-on-sea, Southend-on-sea SS0 7DS2
£210K10/200.81 mi8a, Tyrrel Drive, Southend-on-sea SS1 2LN2
£192.5K06/210.82 mi27a, Stromness Road, Southend-on-sea SS2 4JG2
£200K10/210.82 mi39, Stromness Road, Southend-on-sea SS2 4JG2
£130K08/230.82 mi75a, Tyrrel Drive, Southend-on-sea SS1 2LN2
£193K12/230.82 mi6, Tyrrel Drive, Southend-on-sea SS1 2LN2
£270K11/210.85 mi4, Bellevue Mews, Southend-on-sea SS2 4PE2
£179K06/210.85 mi30, Crossfield Road, Southend-on-sea SS2 4LS2
£210K12/230.85 mi9a, Lancaster Gardens, Southend-on-sea SS1 2NS2
£180K03/210.86 mi16a, Stromness Road, Southend-on-sea SS2 4JQ2
£177K07/210.88 mi30a, Westborough Road, Westcliff-on-sea, Southend-on-sea SS0 9DP2
£180K08/230.88 mi32b, Elmer Avenue, Southend-on-sea SS1 1NB2
£180K11/210.88 mi83b, Princes Street, Southend-on-sea SS1 1PT2

Local Rents

35 rents from £950/mo to £4.3K/mo, average is £1.4K/mo.

RentDateDistanceAddressBeds 
£1,05001/250.11 mi-2
£1,30003/250.17 mi-2
£99503/240.19 miKenway, Southend-On-Sea, Essex, SS22
£1,00003/240.19 miVantage Court, Kenway Southend-on-Sea2
£1,35004/250.24 mi-2
£1,29502/240.28 mi-2
£1,25008/240.28 mi-2
£1,25008/240.28 mi-2
£1,20009/240.41 miNorth Avenue, Southend on - sea2
£1,10001/250.43 mi-2
£1,10004/250.44 mi-2
£3,75009/240.46 mi-2
£4,25002/240.46 mi-2
£1,25009/240.52 mi-2
£1,25009/240.52 mi-2
£1,25008/240.52 mi-2
£1,45011/230.54 mi-2
£1,35011/240.54 mi-2
£1,50003/250.54 mi-2
£1,35002/250.54 mi-2
£1,35003/250.54 mi-2
£1,27509/240.55 miBeaumont Court, - Victoria Avenue, Southend-On-Sea2
£95009/240.55 miBournemouth Park Road, Southend-On-Sea, Essex, SS22
£1,50010/240.55 mi-2
£1,65002/250.55 mi-2
£1,35009/240.55 miBeaumont Court, Victoria Avenue, Southend on Sea2
£1,35009/240.55 miBeaumont Court, Victoria Avenue2
£1,45009/240.55 miVictoria Avenue, SOUTHEND-ON-SEA2
£1,40009/240.55 miVictoria Avenue, Southend-on-Sea2
£1,40009/240.55 miVictoria Avenue, Southend-on-Sea2
£1,40009/240.55 mi2 bedroom 1st Floor Flat in Southend on Sea2
£1,45009/240.55 miVictoria Avenue, SOUTHEND-ON-SEA2
£1,35009/240.55 miVictoria Avenue, SOUTHEND-ON-SEA2
£1,35003/240.55 miBeaumont Court2
£1,25003/240.55 miBeaumont Court, Southend-On-Sea2

Local Area Statistics

Population in SS2

36,418

Population in Southend-on-Sea

106,129

Town centre distance

0.25 miles away

Nearest school

0.20 miles away

Nearest train station

0.20 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+8%

Sales demand

Balanced market

Capital growth (5yrs)

+24%

Property History

Price changed to £220,000

January 4, 2025

Listed for £230,000

November 22, 2024

Floor Plans

Description

  • No Onward Chain +
  • First Floor Flat with a Private Entrance +
  • Bay Fronted, Open Plan Lounge/Diner +
  • Well-Equipped Kitchen +
  • Two Well-Proportioned Bedrooms +
  • Two Piece Bathroom with a Separate WC +
  • One Off-Street Parking Space to the Front +
  • Private Rear Garden +
  • 155 Year Lease +
  • Double Glazing and Gas Central Heating +

* No Onward Chain * This first floor flat, boasting a 155 year lease, offers spacious and versatile living in a convenient Southend-on-Sea location, close to excellent transport links. The property boasts excellent opportunities for buyers looking to create their dream home.

The property features a bright bay fronted lounge/diner which opens into a functional kitchen, two well-proportioned bedrooms, a separate WC and a two-piece bathroom. Externally, the flat benefits from having off-street parking for one vehicle at the front and further boasts a private rear garden. This property offers a fantastic opportunity for buyers seeking a property with potential, featuring a spacious layout that would benefit from some modernisation to create a contemporary and personalized home.

Ideally situated within walking distance of Prittlewell Train Station, the flat is also close to the A127, excellent bus links, local amenities, parks, and well-regarded schools.

Two Bedroom First Floor Flat -

Lounge/Diner - 5.08m x 4.98m (16'8 x 16'4) -

Kitchen - 3.23m x 2.72m (10'7 x 8'11) -

Bedroom One - 3.28m x 3.07m (10'9 x 10'1) -

Bedroom Two - 3.12m x 2.49m (10'3 x 8'2) -

Bathroom - 2.08m x 1.42m (6'10 x 4'8) -

Wc -

Off-Street Parking For One Vehicle -

Private Garden To The Rear -

Agent Details

Bear Estate Agents, Southend-on-Sea

01702 967452

Next Steps?

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