2 Bed Flat, Single Let, Canvey Island, SS8 9RQ, £180,000

Church Parade, Canvey Island, SS8 9RQ - 3 views - 3 months ago

Leasehold

BTL

ROI: 9%

~68 m²

+1 photos

ValuationUndervalued

Sold Prices	£155K - £265K
Sold Prices/m²	£1.7K/m² - £5K/m²

Square Metres	~68.11 m²
Price/m²	£2.6K/m²
Value Estimate	£222,909£222,909
BMV	24%

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£45,000£45,000
Stamp Duty & Legal Fees	£6,600£6,600
Total Cash In	£51,600£51,600

Cash Out
Rent Range	£1,075 - £1,450£1,075 - £1,450
Rent Estimate	£1,200
Running Costs/mo	£823£823
Cashflow/mo	£378£378
Cashflow/yr	£4,530£4,530
ROI	9%9%
Gross Yield	8%8%

Local Sold Prices

23 sold prices from £155K to £265K, average is £201K. £1.7K/m² to £5K/m², average is £3.3K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£192K	05/22	0.13 mi	7, Church Parade, Canvey Island, Essex SS8 9RQ	£3,192	60	2	Flat
£170K	04/23	0.13 mi	31, Church Parade, Canvey Island, Essex SS8 9RQ	£2,742	62	2	Flat
£180K	09/21	0.19 mi	33, Church Parade, Canvey Island, Essex SS8 9RQ	£3,849	47	2	Flat
£195K	05/24	0.43 mi	9, Ashworths, Canvey Island, Essex SS8 9RR	£3,176	61	2	Flat
£213K	07/23	0.45 mi	Flat 8, Badgers Rise, Sanders Road, Canvey Island, Essex SS8 9UN	£3,179	67	2	Flat
£258K	03/21	0.54 mi	39, Limburg Road, Canvey Island, Essex SS8 0QH	-	-	2	Flat
£162K	02/21	0.59 mi	106a, Hilton Road, Canvey Island, Essex SS8 9XG	£3,584	45	2	Flat
£155K	09/23	0.7 mi	399a, Long Road, Canvey Island, Essex SS8 0JH	-	-	2	Flat
£265K	08/21	0.79 mi	16, Tudor Road, Canvey Island, Essex SS8 0ND	£5,000	53	2	Flat
£235K	01/23	0.83 mi	4, Merlin Court, Canvey Island, Essex SS8 9ES	-	-	2	Flat
£180K	06/21	1.04 mi	8, Goirle Avenue, Canvey Island, Essex SS8 8BJ	£3,273	55	2	Flat
£201K	06/21	1.09 mi	Flat 2, Crescent House, Mornington Crescent, Canvey Island, Essex SS8 8AS	-	-	2	Flat
£226K	03/24	1.12 mi	107a, High Street, Benfleet, Essex SS7 1ND	£4,365	52	2	Flat
£200K	03/21	1.36 mi	Flat 6, St James Court, Western Esplanade, Canvey Island, Essex SS8 0AY	-	-	2	Flat
£207.5K	11/20	1.39 mi	Flat 4, Cherry Court, Western Esplanade, Canvey Island, Essex SS8 0AY	-	-	2	Flat
£180K	01/21	1.39 mi	Flat 9, Cherry Court, Western Esplanade, Canvey Island, Essex SS8 0AY	£2,985	60	2	Flat
£180K	04/21	1.46 mi	105a, High Road, Benfleet, Essex SS7 5LN	-	-	2	Flat
£173K	11/23	1.69 mi	225a, High Road, Benfleet, Essex SS7 5HZ	£1,713	101	2	Flat
£235K	03/21	1.79 mi	Flat 13, Richmond Court, Richmond Avenue, Benfleet, Essex SS7 5EY	-	-	2	Flat
£235K	11/22	1.85 mi	36, Merrivale, Benfleet, Essex SS7 5HH	£3,730	63	2	Flat
£202K	05/21	1.85 mi	18, Merrivale, Benfleet, Essex SS7 5HH	£3,258	62	2	Flat
£238.5K	08/21	1.91 mi	5b, Clarence Road, Benfleet, Essex SS7 1DE	£3,847	62	2	Flat
£210K	10/20	2 mi	18b, South View Road, Benfleet, Essex SS7 5NA	£3,447	61	2	Flat

Local Rents

10 rents from £1.1K/mo to £1.4K/mo, average is £1.3K/mo.

Rent	Date	Distance	Address	Beds	Type
£1,350	09/24	0.05 mi	Central Avenue, Canvey Island	2	Flat
£1,075	01/25	0.41 mi	-	2	Flat
£1,200	03/25	0.63 mi	-	2	Bungalow
£1,250	09/24	0.69 mi	-	2	Bungalow
£1,450	12/24	0.94 mi	-	2	Bungalow
£1,350	11/23	1.11 mi	-	2	Flat
£1,200	09/24	1.15 mi	School Lane,Benfleet,SS7	2	Flat
£1,250	04/24	1.2 mi	-	2	Flat
£1,400	09/24	1.2 mi	The Close Attwell Mews, Benfleet	2	Flat
£1,280	09/24	1.21 mi	-	2	Flat

Local Area Statistics

Population in SS8	38,13438,134
Population in Canvey Island	38,13838,138
Town centre distance	0.73 miles away0.73 miles away
Nearest school	0.20 miles away0.20 miles away
Nearest train station	1.13 miles away1.13 miles away

Rental growth (12m)	+72%+72%
Sales demand	Seller's marketSeller's market
Capital growth (5yrs)	+21%+21%

Property History

Listed for £180,000

January 14, 2025

Floor Plans

Description

Two double bedrooms +
Modern fitted kitchen +
Gas central heating +
Balcony +
Ample storage +
Modern fitted bathroom +
Spacious lounge/diner +
Close to local amenities +
93 Year lease +
£118 Service charge per month +

The property features two generously sized double bedrooms, providing plenty of space and natural light. The modern fitted kitchen is well-equipped, perfect for cooking and entertaining, while the stylish, functional bathroom offers all the essentials for your comfort. The spacious lounge/diner provides a large open-plan living area with ample room for relaxing or dining, and benefits from doors leading out to a private balcony. With the added convenience of four large storage cupboards, this apartment offers plenty of space to keep your home organized and clutter-free. With its practical layout, well-maintained finishes, this property presents a great opportunity to get onto the property ladder or add a valuable asset to your investment portfolio. Contact us today to arrange a viewing!

Agent Details

Anthony Quirk, Canvey Island

01268 203943

Next Steps?

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

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