2 Bed Flat, Single Let, Newport, PO30 5GN, £145,000

Snowberry Road, Newport, Isle of Wight, PO30 5GN - 1 views - 4 months ago

BTL

ROI: 6%

~68 m²

+4 photos

ValuationUndervalued

Sold Prices	£110K - £331K
Sold Prices/m²	£1.8K/m² - £3.5K/m²

Square Metres	~68.11 m²
Price/m²	£2.1K/m²
Value Estimate	£171,771£171,771
BMV	18%

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£36,250£36,250
Stamp Duty & Legal Fees	£5,550£5,550
Total Cash In	£41,800£41,800

Cash Out
Rent Range	£750 - £1,250£750 - £1,250
Rent Estimate	£831
Running Costs/mo	£639£639
Cashflow/mo	£192£192
Cashflow/yr	£2,300£2,300
ROI	6%6%
Gross Yield	7%7%

Local Sold Prices

25 sold prices from £110K to £331K, average is £142.5K. £1.8K/m² to £3.5K/m², average is £2.5K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£270K	05/21	0.12 mi	Flat 48, Somers Brook Court, Foxes Road, Newport, Isle Of Wight PO30 5UN	-	-	2	Flat
£150K	01/24	0.12 mi	Somers Brook Court, Flat 47, Foxes Road, Newport, Isle Of Wight PO30 5UN	£1,948	77	2	Flat
£130K	01/24	0.12 mi	Somers Brook Court, Flat 40, Foxes Road, Newport, Isle Of Wight PO30 5UN	£1,806	72	2	Flat
£155K	03/23	0.16 mi	34b, Hearn Street, Newport, Isle Of Wight PO30 5EH	£2,818	55	2	Flat
£115K	11/21	0.2 mi	Flat 39, Homewight House, Crocker Street, Newport, Isle Of Wight PO30 5GA	-	-	2	Flat
£125.5K	09/22	0.2 mi	Flat 10, Homewight House, Crocker Street, Newport, Isle Of Wight PO30 5GA	-	-	2	Flat
£125K	05/23	0.2 mi	Flat 26, Homewight House, Crocker Street, Newport, Isle Of Wight PO30 5GA	-	-	2	Flat
£125K	03/21	0.25 mi	Flat 7, Field Court, Carisbrooke Road, Newport, Isle Of Wight PO30 1DA	-	-	2	Flat
£129K	07/23	0.34 mi	6, Redver Gardens, Newport, Isle Of Wight PO30 5JJ	£2,941	44	2	Flat
£126K	08/22	0.35 mi	Flat 7, Linington Court, Union Street, Newport, Isle Of Wight PO30 1RS	-	-	2	Flat
£275K	09/21	0.41 mi	1, Hinton Road, Newport, Isle Of Wight PO30 5QZ	-	-	2	Flat
£116K	12/20	0.56 mi	11, Chandler Close, Newport, Isle Of Wight PO30 1RH	£2,148	54	2	Flat
£245K	03/21	0.65 mi	13, Fieldfare Road, Newport, Isle Of Wight PO30 5YB	-	-	2	Flat
£145K	10/20	0.73 mi	28, Sydney Close, Newport, Isle Of Wight PO30 1YG	£2,458	59	2	Flat
£142.5K	03/21	0.73 mi	13, Sydney Close, Newport, Isle Of Wight PO30 1YG	£2,500	57	2	Flat
£145K	02/21	0.73 mi	26, Sydney Close, Newport, Isle Of Wight PO30 1YG	£2,544	57	2	Flat
£157K	11/22	0.78 mi	Flat 2, Shide Court, Shide Road, Newport, Isle Of Wight PO30 1YJ	-	-	2	Flat
£110K	09/23	1.04 mi	18, Harris Road, Newport, Isle Of Wight PO30 5NN	£2,340	47	2	Flat
£125K	09/23	1.04 mi	17, Harris Road, Newport, Isle Of Wight PO30 5NN	£2,976	42	2	Flat
£175K	08/21	1.19 mi	108, Staplers Road, Newport, Isle Of Wight PO30 2GD	£2,917	60	2	Flat
£120K	07/21	1.27 mi	Flat 28, The Lawns, Fairlee Road, Newport, Isle Of Wight PO30 2PT	-	-	2	Flat
£137.5K	05/23	1.27 mi	Flat 28, The Lawns, Fairlee Road, Newport, Isle Of Wight PO30 2PT	-	-	2	Flat
£331K	05/21	1.35 mi	2, Buckbury Close, Newport, Isle Of Wight PO30 2NN	£3,521	94	2	Flat
£215K	08/21	1.75 mi	Flat 1, Blackwater House, Blackwater Road, Newport, Isle Of Wight PO30 3BE	-	-	2	Flat
£174K	05/21	1.75 mi	Flat 2, Blackwater House, Blackwater Road, Newport, Isle Of Wight PO30 3BE	-	-	2	Flat

Local Rents

13 rents from £750/mo to £1.3K/mo, average is £950/mo.

Rent	Date	Distance	Address	Beds	Type
£950	02/25	0.07 mi	-	2	Flat
£975	06/24	0.19 mi	Newport, Isle Of Wight	2	Terraced House
£750	06/24	0.25 mi	Cross Street, Newport	2	Flat
£950	12/24	0.3 mi	High Street, Newport	2	Flat
£825	06/24	0.32 mi	New Street Newport PO30	2	Terraced House
£850	06/24	0.33 mi	-	2	Bungalow
£950	01/25	0.34 mi	-	2	Terraced House
£950	03/25	0.36 mi	-	2	Terraced House
£950	01/25	0.36 mi	-	2	Terraced House
£850	06/24	0.39 mi	Upper St. James Street, Newport	2	Flat
£1,200	12/24	0.42 mi	-	2	Flat
£1,250	01/25	0.42 mi	-	2	Flat
£1,025	01/25	0.48 mi	-	2	Terraced House

Local Area Statistics

Population in PO30	29,06529,065
Population in Newport	229,937229,937
Town centre distance	121.93 miles away121.93 miles away
Nearest school	0.10 miles away0.10 miles away
Nearest train station	6.55 miles away6.55 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+25%+25%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+21%+21%

Property History

Listed for £145,000

December 12, 2024

Floor Plans

Description

A spacious first floor apartment situated in Bembridge House, a purpose built block situated on a popular residential development close to Newport town centre with its shops and amenities, as well as local schools.

The apartment has accommodation comprising an open plan Lounge/diner, kitchen, two double bedrooms, en-suite shower room, and bathroom. There is an allocated parking space.

An ideal first purchase or investment opportunity.

No onward chain.

Agent Details

Hose Rhodes Dickson, Newport

01983 212486

Next Steps?

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

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ValuationUndervalued

CashflowsOpen in Analyser

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Links

Local Area Statistics

Property History

Floor Plans

Description

Agent Details

Next Steps?

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Cashflows

Local Sold Prices

Local Rents