2 Bed Flat, Single Let, Newport, PO30 1RS, £140,000

Newport, Isle of Wight, PO30 1RS - 1 views - 4 months ago

Sold STC
Leasehold
BTL
ROI: 6%
~68 m²
+3 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
BMV23%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£35,000

Stamp Duty & Legal Fees

£8,500

Total Cash In

£43,500

 

 

Cash Out

 

Rent Range

£750 - £1,250

Rent Estimate

£847

Running Costs/mo

£627

Cashflow/mo

£220

Cashflow/yr

£2,641

ROI

6%

Gross Yield

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.

PriceDateDistanceAddressBeds 
£126K08/220.03 miFlat 7, Linington Court, Union Street, Newport, Isle Of Wight PO30 1RS2
£155K03/230.22 mi34b, Hearn Street, Newport, Isle Of Wight PO30 5EH2
£125K03/210.25 miFlat 7, Field Court, Carisbrooke Road, Newport, Isle Of Wight PO30 1DA2
£115K11/210.26 miFlat 39, Homewight House, Crocker Street, Newport, Isle Of Wight PO30 5GA2
£125.5K09/220.26 miFlat 10, Homewight House, Crocker Street, Newport, Isle Of Wight PO30 5GA2
£125K05/230.26 miFlat 26, Homewight House, Crocker Street, Newport, Isle Of Wight PO30 5GA2
£270K05/210.29 miFlat 48, Somers Brook Court, Foxes Road, Newport, Isle Of Wight PO30 5UN2
£150K01/240.29 miSomers Brook Court, Flat 47, Foxes Road, Newport, Isle Of Wight PO30 5UN2
£130K01/240.29 miSomers Brook Court, Flat 40, Foxes Road, Newport, Isle Of Wight PO30 5UN2
£145K10/200.42 mi28, Sydney Close, Newport, Isle Of Wight PO30 1YG2
£142.5K03/210.42 mi13, Sydney Close, Newport, Isle Of Wight PO30 1YG2
£145K02/210.42 mi26, Sydney Close, Newport, Isle Of Wight PO30 1YG2
£157K11/220.46 miFlat 2, Shide Court, Shide Road, Newport, Isle Of Wight PO30 1YJ2
£116K12/200.49 mi11, Chandler Close, Newport, Isle Of Wight PO30 1RH2
£129K07/230.49 mi6, Redver Gardens, Newport, Isle Of Wight PO30 5JJ2
£275K09/210.58 mi1, Hinton Road, Newport, Isle Of Wight PO30 5QZ2
£245K03/210.81 mi13, Fieldfare Road, Newport, Isle Of Wight PO30 5YB2
£175K08/210.93 mi108, Staplers Road, Newport, Isle Of Wight PO30 2GD2
£331K05/211.07 mi2, Buckbury Close, Newport, Isle Of Wight PO30 2NN2
£120K07/211.24 miFlat 28, The Lawns, Fairlee Road, Newport, Isle Of Wight PO30 2PT2
£137.5K05/231.24 miFlat 28, The Lawns, Fairlee Road, Newport, Isle Of Wight PO30 2PT2
£110K09/231.25 mi18, Harris Road, Newport, Isle Of Wight PO30 5NN2
£125K09/231.25 mi17, Harris Road, Newport, Isle Of Wight PO30 5NN2
£215K08/211.45 miFlat 1, Blackwater House, Blackwater Road, Newport, Isle Of Wight PO30 3BE2
£174K05/211.45 miFlat 2, Blackwater House, Blackwater Road, Newport, Isle Of Wight PO30 3BE2

Local Rents

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

RentDateDistanceAddressBeds 
£85006/240.04 mi-2
£82506/240.04 miNew Street Newport PO302
£85006/240.05 miUpper St. James Street, Newport2
£75006/240.1 miCross Street, Newport2
£95012/240.17 miHigh Street, Newport2
£97506/240.24 miNewport, Isle Of Wight2
£1,20012/240.25 mi-2
£1,25001/250.25 mi-2
£95003/250.32 mi-2
£95001/250.32 mi-2
£1,25012/240.35 mi-2
£1,02506/240.42 miAsh Road, Newport2
£95002/250.42 mi-2
£97506/240.47 miGreen Street, Newport2
£95001/250.5 mi-2
£87506/240.58 miStaplers Road, Newport2

Local Area Statistics

Population in PO30

29,065

Population in Newport

229,937

Town centre distance

122.26 miles away

Nearest school

0.20 miles away

Nearest train station

6.29 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+25%

Sales demand

Balanced market

Capital growth (5yrs)

+21%

Property History

Price changed to £140,000

January 31, 2025

Listed for £155,000

January 8, 2025

Floor Plans

Description

  • Second floor Apartment +
  • Two bedrooms +
  • Allocated parking +
  • Spacious accommodation +
  • Town Centre Location +
  • Chain Free +

Flats do not often come up for sale in the Island's capital town of Newport that have allocated parking for residents and visitors.

From the communal entrance, you enter the flat on the second floor, confident that you will be impressed by the layout, the apartment benefits from a modern fitted kitchen that makes cooking a pleasure. The lounge and main bedroom overlook the rear and provides some lovely, distant country views over the town's rooftops; there is also a second bedroom and spacious bathroom.

The surprising factor is the amount of storage on offer here, this apartment really bucks the trend! There is a big cupboard in the entrance hall as well as a separate locked storage cupboard off the landing.

This truly is a fantastic location and the apartment provides lots of advantages, being positioned in the town centre, which is a short stroll away. Why not take a bike to explore along the cycle trails, which you can lock up securely in the communal bike rack. The building also provides great security with an entry phone system, meaning you do not have to leave the flat to let anyone in and there is an outside drying area for your washing!

In summary, we are excited to market this spacious, bright and light filled apartment and are confident that this would really suit first time buyers or buy to let investors alike.

* The heating has been upgraded to Electric Radiators since photographs were taken.

Local Authority - Isle of Wight Council
Council Tax Band B
Tenure - Leasehold

Agent Details

Trigghomes, Newport

01983 525710

Next Steps?

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