2 Bed Flat, Single Let, Benfleet, SS7 2BF, £220,000

Wilkinson Drop, Oak Road South, Benfleet, SS7 2BF - 2 views - 4 months ago

Leasehold

BTL

ROI: 3%

~68 m²

ValuationOvervalued

Sold Prices	£120K - £450K
Sold Prices/m²	£1.6K/m² - £4.8K/m²

Square Metres	~68.11 m²
Price/m²	£3.2K/m²
Value Estimate	£213,295£213,295

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£55,000£55,000
Stamp Duty & Legal Fees	£7,800£7,800
Total Cash In	£62,800£62,800

Cash Out
Rent Range	£950 - £1,700£950 - £1,700
Rent Estimate	£1,100
Running Costs/mo	£928£928
Cashflow/mo	£173£173
Cashflow/yr	£2,070£2,070
ROI	3%3%
Gross Yield	6%6%

Local Sold Prices

33 sold prices from £120K to £450K, average is £220K. £1.6K/m² to £4.8K/m², average is £3.1K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£237.5K	01/23	0.02 mi	Flat 69, Wilkinson Drop, Oak Road South, Benfleet, Essex SS7 2BG	-	-	2	Flat
£240K	11/22	0.04 mi	Flat 55, Wilkinson Drop, Oak Road South, Benfleet, Essex SS7 2BG	-	-	2	Flat
£222K	10/23	0.04 mi	Flat 48, Wilkinson Drop, Oak Road South, Benfleet, Essex SS7 2BG	£3,828	58	2	Flat
£230K	07/23	0.04 mi	Flat 43, Wilkinson Drop, Oak Road South, Benfleet, Essex SS7 2BG	-	-	2	Flat
£205K	04/21	0.04 mi	Flat 53, Wilkinson Drop, Oak Road South, Benfleet, Essex SS7 2BG	-	-	2	Flat
£238K	10/23	0.04 mi	Wilkinson Drop, Flat 27, Oak Road South, Benfleet, Essex SS7 2BG	£3,132	76	2	Flat
£190K	03/21	0.06 mi	Flat 3, Castle Court, Castle Lane, Benfleet, Essex SS7 2AE	-	-	2	Flat
£185K	01/21	0.07 mi	Flat 1, Everglades, London Road, Hadleigh, Benfleet, Essex SS7 2ED	-	-	2	Flat
£237.5K	10/23	0.09 mi	Flat 4, Steeple Gate, Castle Lane, Benfleet, Essex SS7 2AF	-	-	2	Flat
£238.5K	05/21	0.09 mi	Flat 3, Steeple Gate, Castle Lane, Benfleet, Essex SS7 2AF	-	-	2	Flat
£225K	01/21	0.11 mi	53, Castle Lane, Benfleet, Essex SS7 2AL	£4,787	47	2	Flat
£250K	08/21	0.17 mi	16a, The Avenue, Benfleet, Essex SS7 2DL	£4,167	60	2	Flat
£240K	06/21	0.27 mi	Flat 4, Everglades, London Road, Hadleigh, Benfleet, Essex SS7 2ED	-	-	2	Flat
£220K	09/23	0.28 mi	59, Templewood Court, Benfleet, Essex SS7 2RH	£3,107	71	2	Flat
£185K	06/21	0.28 mi	45, Templewood Court, Benfleet, Essex SS7 2RH	-	-	2	Flat
£190K	04/21	0.28 mi	60, Templewood Court, Benfleet, Essex SS7 2RH	-	-	2	Flat
£185K	06/21	0.28 mi	45, Templewood Court, Benfleet, Essex SS7 2RH	-	-	2	Flat
£120K	03/24	0.28 mi	54, Templewood Court, Benfleet, Essex SS7 2RH	£1,593	75	2	Flat
£205K	04/21	0.29 mi	1, Templewood Court, Benfleet, Essex SS7 2RQ	£2,770	74	2	Flat
£258.5K	10/23	0.29 mi	Flat B, The Laurels, Templewood Court, Benfleet, Essex SS7 2RQ	-	-	2	Flat
£199.9K	06/21	0.4 mi	Apartment 20, Aragon Court, Church Road, Hadleigh, Benfleet, Essex SS7 2GB	-	-	2	Flat
£257.5K	08/23	0.41 mi	623, London Road, Hadleigh, Benfleet, Essex SS7 2EB	£4,364	59	2	Flat
£186.5K	01/21	0.41 mi	623a, London Road, Hadleigh, Benfleet, Essex SS7 2EB	£3,008	62	2	Flat
£170K	01/23	0.41 mi	585, London Road, Hadleigh, Benfleet, Essex SS7 2EB	£2,698	63	2	Flat
£220K	03/23	0.59 mi	Flat 41, Queens Lodge, Benfleet Road, Benfleet, Essex SS7 1NY	-	-	2	Flat
£220K	08/21	0.59 mi	Flat 38, Queens Lodge, Benfleet Road, Benfleet, Essex SS7 1NY	-	-	2	Flat
£192.5K	01/21	0.59 mi	Flat 39, Queens Lodge, Benfleet Road, Benfleet, Essex SS7 1NY	-	-	2	Flat
£450K	04/21	0.6 mi	200, Scrub Lane, Benfleet, Essex SS7 2JW	-	-	2	Flat
£245K	01/21	0.85 mi	106a, Rayleigh Road, Thundersley, Benfleet, Essex SS7 3YS	£3,224	76	2	Flat
£220K	09/21	0.92 mi	1480c, London Road, Leigh-on-sea, Southend-on-sea SS9 2UR	£2,472	89	2	Flat
£195K	11/20	0.92 mi	1480a, London Road, Leigh-on-sea, Southend-on-sea SS9 2UR	£2,708	72	2	Flat
£275K	12/20	0.92 mi	1486a, London Road, Leigh-on-sea, Southend-on-sea SS9 2UR	£3,667	75	2	Flat
£275K	05/21	0.92 mi	1486c, London Road, Leigh-on-sea, Southend-on-sea SS9 2UR	£3,716	74	2	Flat

Local Rents

19 rents from £950/mo to £1.7K/mo, average is £1.4K/mo.

Rent	Date	Distance	Address	Beds	Type
£950	09/24	0.04 mi	Wilkinson Drop Oak Road South, Hadleigh	2	Flat
£1,000	09/24	0.08 mi	London Road, Hadleigh	2	Flat
£1,100	09/24	0.08 mi	Castle Gate, London Road, Hadleigh	2	Flat
£1,700	09/24	0.08 mi	Beech Road, Hadleigh	2	Flat
£1,300	09/24	0.09 mi	London Road, Hadleigh, Benfleet, Essex, SS7	2	Flat
£1,400	09/24	0.1 mi	Flat 3, 335 London Road	2	Flat
£1,500	12/24	0.2 mi	-	2	Flat
£1,100	09/24	0.21 mi	London Road, Hadleigh, Benfleet, Essex, SS7	2	Flat
£1,350	04/24	0.21 mi	-	2	Flat
£1,350	09/24	0.21 mi	High Street, Hadleigh, Benfleet, SS7	2	Flat
£1,150	09/24	0.28 mi	Everglades, London Road, Hadleigh	2	Flat
£1,400	09/24	0.33 mi	Tower View, London Road, Hadleigh	2	Flat
£1,600	06/24	0.35 mi	-	2	Bungalow
£1,400	06/23	0.41 mi	-	2	Bungalow
£1,400	06/23	0.41 mi	-	2	Bungalow
£1,600	03/25	0.42 mi	-	2	Flat
£1,600	03/25	0.42 mi	-	2	Flat
£1,300	09/24	0.5 mi	Woodfield Road, Hadleigh	2	Flat
£1,450	09/24	0.61 mi	Springfield Hadleigh	2	Flat

Local Area Statistics

Population in SS7	49,12149,121
Town centre distance	1.46 miles away1.46 miles away
Nearest school	0.10 miles away0.10 miles away
Nearest train station	1.44 miles away1.44 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+6%+6%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+16%+16%

Property History

Listed for £220,000

December 3, 2024

Sold for £144,950

2004

Floor Plans

Description

TWO BEDROOMS +
EN-SUITE SHOWER ROOM +
NO ONWARD CHAIN +
ALLOCATED PARKING +
POPULAR LOCATION +
VIEWING ADVISED +

FURTHER DETAILS COMING SOON

This ideal first time purchase comes to market with no onward chain and is offered at a realistic price as part of a portfolio sale.

The property has a large open plan lounge / kitchen, two double bedrooms with en-suite shower room, separate bathroom and the added advantage of allocated residence parking. Viewing highly recommended.

Council Tax Band: B
Tenure: Leasehold

Agent Details

Shore Sales & Lettings, Leigh-On-Sea

01702 967998

Next Steps?

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

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