2 Bed Bungalow, Refurb/BRRR, Hornsea, HU18 1RR, £159,950

12 Mere View Avenue, Hornsea, HU18 1RR - 3 months ago

Sold STC
Refurb/BRRR
~86 m²
+6 photos

ValuationOvervalued

Sold Prices£85K - £305K
Sold Prices/m²£1.1K/m² - £4.1K/m²

 

 

Square Metres

~85.80 m²
Price/m²£1.9K/m²

Value Estimate

£149,379

 

 

End Value (After Refurb)

£171,600

Uplift in Value

+7%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£39,988

Stamp Duty & Legal Fees

£9,198

Refurb Costs

£34,517

Bridging Loan Interest

£4,199

Total Cash In

£89,651

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£171,600

Mortgage (After Refinance)

£128,700

Mortgage LTV

75%

Cash Released

£8,738

Cash Left In

£80,913

Equity

£42,900

Rent Range

£350 - £1,350

Rent Estimate

£665

Running Costs/mo

£689

Cashflow/mo

£-24

Cashflow/yr

£-291

Gross Yield

5%

Local Sold Prices

41 sold prices from £85K to £305K, average is £143K. £1.1K/m² to £4.1K/m², average is £1.7K/m².

PriceDateDistanceAddressBeds 
£245K12/220.05 mi19, Mere View Avenue, Hornsea, East Riding Of Yorkshire HU18 1RR2
£158K06/230.2 mi34, Rawson Way, Hornsea, East Riding Of Yorkshire HU18 1DH2
£98K02/210.25 mi48, Marlborough Avenue, Hornsea, East Riding Of Yorkshire HU18 1UA2
£110K11/200.27 mi15, Stanley Avenue, Hornsea, East Riding Of Yorkshire HU18 1UQ2
£127.5K03/210.27 mi21, Stanley Avenue, Hornsea, East Riding Of Yorkshire HU18 1UQ2
£125K02/210.29 mi31, Hull Road, Hornsea, East Riding Of Yorkshire HU18 1RL2
£125K02/210.29 mi31, Hull Road, Hornsea, East Riding Of Yorkshire HU18 1RL2
£125K02/210.29 mi31, Hull Road, Hornsea, East Riding Of Yorkshire HU18 1RL2
£192.5K12/220.29 mi9, Edenfield Avenue, Hornsea, East Riding Of Yorkshire HU18 1UL2
£230K12/220.35 mi48, Greenacre Park, Hornsea, East Riding Of Yorkshire HU18 1UW2
£145K06/210.36 mi21, Greenacre Park, Hornsea, East Riding Of Yorkshire HU18 1UP2
£187.9K10/220.43 mi37, Ranby Drive, Hornsea, East Riding Of Yorkshire HU18 1SZ2
£215K02/230.43 mi42, Ranby Crescent, Hornsea, East Riding Of Yorkshire HU18 1SY2
£85K04/230.44 mi9, Rowan Walk, Hornsea, East Riding Of Yorkshire HU18 1TT2
£187.5K01/230.48 mi2, The Greenway, Hornsea, East Riding Of Yorkshire HU18 1SL2
£142.5K01/210.5 mi65, Pickering Avenue, Hornsea, East Riding Of Yorkshire HU18 1TR2
£190K07/230.5 mi57, Pickering Avenue, Hornsea, East Riding Of Yorkshire HU18 1TR2
£185K09/210.51 miGrasmere, Southgate, Hornsea, East Riding Of Yorkshire HU18 1RE2
£132K08/220.55 mi55, Ebor Avenue, Hornsea, East Riding Of Yorkshire HU18 1SS2
£205K02/210.55 mi20, Tansley Lane, Hornsea, East Riding Of Yorkshire HU18 1TS2
£149.9K05/210.61 mi2, Beckside, Hornsea, East Riding Of Yorkshire HU18 1RT2
£115K11/200.65 miDe-novo, Back Southgate, Hornsea, East Riding Of Yorkshire HU18 1BA2
£305K10/220.69 miSheridan, Seaton Road, Hornsea, East Riding Of Yorkshire HU18 1BS2
£120K06/220.69 mi6, Southgate, Hornsea, East Riding Of Yorkshire HU18 1AQ2
£122K09/210.71 mi2, Mereside Terrace, Hornsea, East Riding Of Yorkshire HU18 1AZ2
£190K01/210.71 mi29, Tranmere Park, Hornsea, East Riding Of Yorkshire HU18 1QZ2
£145K10/210.71 mi31, Tranmere Park, Hornsea, East Riding Of Yorkshire HU18 1QZ2
£91K10/200.77 mi13, Eastgate View, Hornsea, East Riding Of Yorkshire HU18 1DT2
£120K09/220.77 mi14, Mount Pleasant, Hornsea, East Riding Of Yorkshire HU18 1DX2
£140K05/220.78 mi5, Mount Pleasant, Hornsea, East Riding Of Yorkshire HU18 1DX2
£126.5K10/200.79 miLyndale, Hornsea Burton Road, Hornsea, East Riding Of Yorkshire HU18 1TQ2
£143K06/210.86 miCote Green, Graingers Road, Hornsea, East Riding Of Yorkshire HU18 1QE2
£265K10/220.86 mi32, Cheyne Walk, Hornsea, East Riding Of Yorkshire HU18 1BX2
£104.5K07/210.9 mi2, South Terrace, Hornsea, East Riding Of Yorkshire HU18 1QT2
£169.9K09/220.9 mi2, South Terrace, Hornsea, East Riding Of Yorkshire HU18 1QT2
£220K06/230.93 miOnyx, Pasture Road, Hornsea, East Riding Of Yorkshire HU18 1QB2
£180K08/230.93 miCranbrook, Pasture Road, Hornsea, East Riding Of Yorkshire HU18 1QB2
£135K10/200.93 miFenella, Pasture Road, Hornsea, East Riding Of Yorkshire HU18 1QB2
£118K06/210.93 miCranbrook, Pasture Road, Hornsea, East Riding Of Yorkshire HU18 1QB2
£110K11/200.93 miSouthend, Pasture Road, Hornsea, East Riding Of Yorkshire HU18 1QB2
£154.9K10/210.96 mi7, Cliff Road, Hornsea, Humberside HU18 1LL2

Local Rents

28 rents from £350/mo to £1.4K/mo, average is £695/mo.

RentDateDistanceAddressBeds 
£87504/240.06 miStrickland Drive, Hornsea3
£85002/250.35 mi-2
£69504/240.5 miPickering Avenue, Hornsea, East Riding Of Yorkshire, HU182
£75001/250.61 mi-3
£80004/240.63 miBeckside, Hornsea2
£87504/240.7 miStrickland Drive, Hornsea3
£37004/240.73 mi-1
£42003/240.73 mi-1
£50002/250.73 mi-1
£37005/240.73 mi-1
£35003/250.73 mi-1
£37012/240.73 mi-1
£45003/250.73 mi-1
£37004/240.73 miNewbegin, Hornsea, HU181
£70004/240.75 miMarket Place, Hornsea, East Riding Of Yorkshire, HU182
£70005/240.75 miMarket Place, Hornsea, East Riding Of Yorkshire, HU182
£1,35005/240.95 mi-2
£1,35008/240.95 mi-2
£47505/240.98 mi-1
£47503/250.98 mi-1
£47504/240.98 miNew Road, Hornsea, HU181
£67505/241 miRailway Street, Hornsea2
£69504/241.02 miBroadway, Hornsea1
£57504/241.02 miBroadway, Hornsea1
£77503/251.25 mi-3
£79506/231.33 mi-3
£85008/241.33 mi-3
£79504/241.34 miCliff Terrace, Hornsea4

Local Area Statistics

Population in HU18

8,603

Town centre distance

0.52 miles away

Nearest school

0.70 miles away

Nearest train station

10.17 miles away

 

 

Rental growth (12m)

-28%

Sales demand

Balanced market

Capital growth (5yrs)

+38%

Property History

Listed for £159,950

December 20, 2024

Floor Plans

Description

  • Detached Bungalow +
  • No Chain Involved +
  • Spacious Accommodation +
  • Cul-De-Sac Location +
  • Two Bedrooms +
  • Low Maintenance Garden +
  • Garage +
  • Energy Rating: D +

Offered for sale with no chain involved, this spacious two bedroom detached bungalow enjoys a tucked away cul-de-sac location with an enclosed low maintenance garden and a single garage. The bungalow is in need of some updating and modernisation allowing the purchaser to put their own stamp on the property.

Location - This property is located on Mere View Avenue which leads off Hull Road from Southgate.

Hornsea is a small East Yorkshire coastal town which has a resident population of a little over 8,000. The town offers a good range of local amenities including a range of shops, bistros and restaurants, schooling for all ages and a host of recreational facilities including sailing and fishing on Hornsea Mere, as well as the beach and seaside amenities, a leisure centre refurbished in 2020 and an 18 hole golf course. The town is also well known for the Hornsea Freeport, a large out of town retail shopping village and leisure park. The town lies within 18 miles drive of the city of Hull, 13 miles of the market town of Beverley and about 25 miles from the M62.

Accommodation - The accommodation has mains gas central heating via hot water radiators, uPVC double glazing and is arranged on one floor as follows:

Entrance Porch - With uPVC entrance door and side panel, tiled floor covering and inner door to:

Entrance Hall - 2.29m x 1.63m (7'6 x 5'4) - Ceiling cove, two wall light points and one central heating radiator.

Inner Hall - 2.39m x 1.98m (7'10 x 6'6) - Built-in cupboard and access hatch leading to the roofspace.

Lounge - 6.35m x 3.30m (20'10 x 10'10) - With a gas living flame effect fire incorporating a marble hearth and inset with painted surround, ceiling cove and two central heating radiators.

Dining Kitchen - 3.23m narrowing to 2.03m x 6.30m overall (10'7 nar - Fitted base and wall units incorporating worksurfaces and matching splashbacks. Inset 1 1/2 bowl sink, built-in double oven and split level gas hob with cooker hood over, plumbing for an automatic washing machine, built-in storage cupboard which houses a wall mounted central heating boiler. Woodgrain effect laminate floor covering, uPVC rear entrance door and one central heating radiator.

Bedroom 1 (Rear) - 3.00m x 4.52m (9'10 x 14'10) - With ceiling cove, wardrobe and one central heating radiator.

Bedroom 2 (Side) - 3.05m x 2.84m (10' x 9'4) - With a wardrobe, ceiling cove and one central heating radiator.

Bathroom / Wc - 2.03m x 2.41m (6'8 x 7'11) - With a panelled bath, independent shower cubicle, vanity unit housing the wash hand basin and low level WC. Full height tiling to the walls, ceiling cove and a ladder radiator.

Outside - The property fronts onto a block paved foregarden, and a shared access over a private roadway leads past the bungalow to a brick built single detached garage with up & over main door, side personnel door, cold water tap, power and light laid on.

A courtyard garden adjoins the immediate rear of the property which is mainly paved with a raised border with a mainly fenced surround and an outside cold water tap.

Tenure - We believe the tenure of the property to be Freehold (this will be confirmed by the vendor's solicitor).

Council Tax - The Council Tax Band for this property is Band C.

Agent Details

Quick & Clarke, Hornsea

01964 775823

Next Steps?

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