2 Bed Bungalow, Refurb/BRRR, Salisbury, SP3 4JL, £300,000

Maddington Street, Shrewton, SP3 4JL - 3 months ago

Refurb/BRRR
ROI: 2%
~68 m²
+14 photos

ValuationOvervalued

Sold Prices£152K - £294K
Sold Prices/m²£2.6K/m² - £4.1K/m²

 

 

Square Metres

~68.11 m²
Price/m²£4.4K/m²

Value Estimate

£173,188

 

 

End Value (After Refurb)

£231,375

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£75,000

Stamp Duty & Legal Fees

£18,700

Refurb Costs

£27,612

Bridging Loan Interest

£7,875

Total Cash In

£130,937

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£231,375

Mortgage (After Refinance)

£173,531

Mortgage LTV

75%

Cash Left In

£130,937

Equity

£57,844

Rent Range

£725 - £1,650

Rent Estimate

£1,225

Running Costs/mo

£988

Cashflow/mo

£237

Cashflow/yr

£2,843

ROI

2%

Gross Yield

5%

Local Sold Prices

8 sold prices from £152K to £294K, average is £212.3K. £2.6K/m² to £4.1K/m², average is £3.6K/m².

PriceDateDistanceAddressBeds 
£225K12/200.2 mi2, Old School Mews, Shrewton, Salisbury, Wiltshire SP3 4FA2
£200K09/210.21 mi6, The Butts, Shrewton, Salisbury, Wiltshire SP3 4LD2
£152K10/200.23 miThe Old Cottage, High Street, Shrewton, Salisbury, Wiltshire SP3 4DB2
£294K04/220.23 mi15, Old School Mews, Shrewton, Salisbury, Wiltshire SP3 4FA2
£207.5K07/210.37 mi3, Elston Lane, Shrewton, Salisbury, Wiltshire SP3 4FB2
£180K11/200.41 miThe Old Forge, London Road, Shrewton, Salisbury, Wiltshire SP3 4DH2
£217K10/210.42 miHill Cottage, London Road, Shrewton, Salisbury, Wiltshire SP3 4DH2
£290K07/220.76 mi18, London Road, Shrewton, Salisbury, Wiltshire SP3 4DN2

Local Rents

3 rents from £725/mo to £1.6K/mo, average is £1.3K/mo.

RentDateDistanceAddressBeds 
£1,65003/250.38 mi-3
£72509/240.41 miThe Garage Apartment, Shrewton1
£1,30009/240.75 miOrcheston, Salisbury, Wiltshire, SP33

Local Area Statistics

Population in SP3

11,309

Population in Salisbury

93,605

Town centre distance

9.84 miles away

Nearest school

0.10 miles away

Nearest train station

9.65 miles away

 

 

Rental growth (12m)

+19%

Sales demand

Balanced market

Capital growth (5yrs)

+18%

Property History

Price changed to £300,000

March 24, 2025

Listed for £325,000

January 2, 2025

Floor Plans

Description

  • Detached Bungalow +
  • Sought after location +
  • Two bedrooms +
  • Oil fired central heating +
  • Gardens +
  • Parking +
  • Countryside views to the rear +
  • No onward chain +
  • Council Tax Band D +

A detached bungalow with brick faced elevations under a tiled roof being warmed by oil fired central heating. The accommodation is in need of modernisation and provides a generous hall, sitting room, kitchen/breakfast room, a useful rear lobby, two bedrooms, bathroom and separate W.C. Outside, to the front of the property there is a parking area with a path leading to the front door. The front garden is mainly laid to lawn with various mature shrubs. The rear garden backs onto fields giving lovely countryside views and has decked area, garden shed, greenhouse, oil tank and side gated pedestrian access. Viewing recommended on this property that is offered to the market with no onward chain. The popular village of Shrewton offers a range of local amenities to include co-op shop, schools, butchers, doctors' surgery and garage with petrol station.

Front Door to:
Hall
Radiator, hatch to loft space.

Sitting Room
15' (4.57m) x 12'10" (3.91m)
Window to the front elevation, window to the side elevation, feature fireplace, radiator.

Kitchen/Breakfast Room
12'10" (3.91m) x 12'4" (3.75m)
Fitted with base and wall units, preparation work surfaces, stainless steel sink unit with mixer tap, plumbing for washing machine, airing cupboard housing hot water cylinder and slatted shelf, oil fired boiler, window to the rear elevation, radiator, window to the side elevation.

Rear Lobby
A useful area with window and door giving access to the rear garden.

Bedroom
13'1" (3.99m) x 12' (3.66m)
Window tot eh front elevation, built-in double wardrobe cupboard, radiator.

Bedroom
11'6" (3.50m) x 9'3" (2.81m)
Window to the rear elevation, radiator, built-in double wardrobe cupboard.

Bathroom
Comprising of bath with mixer tap and shower attachment, wash hand basin, window, radiator.

W.C.
W.C., window.

Outside
To the front of the bungalow there is a parking area with a path leading to the front door. The garden is mainly laid to lawn with various mature shrubs. The rear garden has a decked area, garden shed, greenhouse, oil tank, side gated pedestrian access and backs onto fields giving lovely views.

Agent Details

Simon Colligan Estate Agents, Amesbury

01980 881953

Next Steps?

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