2 Bed Bungalow, Refurb/BRRR, Chichester, PO20 8EQ, £365,000

32 Way MahekaC, Writing West, QE8 02OP - 1 views - 3 months ago

Refurb/BRRR
ROI: 2%
~81 m²
+5 photos

ValuationFair Value

Sold Prices£265K - £720K
Sold Prices/m²£3.4K/m² - £8.2K/m²

 

 

Square Metres

~80.64 m²
Price/m²£4.5K/m²

Value Estimate

£365,000

 

 

End Value (After Refurb)

£399,043

Uplift in Value

+9%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£91,250

Stamp Duty & Legal Fees

£25,200

Refurb Costs

£37,112

Bridging Loan Interest

£9,581

Total Cash In

£164,893

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£399,043

Mortgage (After Refinance)

£299,282

Mortgage LTV

75%

Cash Released

£25,532

Cash Left In

£139,361

Equity

£99,761

Rent Range

£850 - £6,950

Rent Estimate

£2,003

Running Costs/mo

£1,668

Cashflow/mo

£335

Cashflow/yr

£4,025

ROI

2%

Gross Yield

7%

Local Sold Prices

21 sold prices from £265K to £720K, average is £370K. £3.4K/m² to £8.2K/m², average is £6K/m².

PriceDateDistanceAddressBeds 
£500K08/210.08 mi1, The Crescent, West Wittering, Chichester, West Sussex PO20 8EE2
£350K05/210.11 mi60, Harrow Drive, West Wittering, Chichester, West Sussex PO20 8EJ2
£330K02/210.11 mi17, Harrow Drive, West Wittering, Chichester, West Sussex PO20 8EJ2
£420K08/230.12 mi9a, The Crescent, West Wittering, Chichester, West Sussex PO20 8EE2
£327K05/230.13 mi8, Ely Close, West Wittering, Chichester, West Sussex PO20 8NF2
£327K08/210.13 mi16, Ely Close, West Wittering, Chichester, West Sussex PO20 8NF2
£450K08/210.18 mi8, Bennetts Close, West Wittering, Chichester, West Sussex PO20 8EP2
£367.5K11/200.18 mi11, Bennetts Close, West Wittering, Chichester, West Sussex PO20 8EP2
£327.5K11/200.18 mi16, Bennetts Close, West Wittering, Chichester, West Sussex PO20 8EP2
£720K03/230.27 mi25, Marine Drive, West Wittering, Chichester, West Sussex PO20 8HE2
£335K11/200.48 mi4, Furzefield, West Wittering, Chichester, West Sussex PO20 8PY2
£275K07/230.59 mi9, Kimbridge Park, East Wittering, Chichester, West Sussex PO20 8RE2
£265K12/200.79 mi46, Middleton Close, Bracklesham Bay, Chichester, West Sussex PO20 8SR2
£322.5K08/210.79 mi6, Kestrel Close, East Wittering, Chichester, West Sussex PO20 8PQ2
£370K07/230.81 mi4, Plover Close, East Wittering, Chichester, West Sussex PO20 8PW2
£375K01/210.94 mi3, Elm Close, Bracklesham Bay, Chichester, West Sussex PO20 8HY2
£375K03/230.94 mi19, Elm Close, Bracklesham Bay, Chichester, West Sussex PO20 8HY2
£440K08/230.94 mi9, Grayswood Avenue, Bracklesham Bay, Chichester, West Sussex PO20 8HZ2
£373.5K01/210.94 mi3, Grayswood Avenue, Bracklesham Bay, Chichester, West Sussex PO20 8HZ2
£430K10/210.94 mi25, Grayswood Avenue, Bracklesham Bay, Chichester, West Sussex PO20 8HZ2
£435K06/210.96 mi1, Grayswood Avenue, Bracklesham Bay, Chichester, West Sussex PO20 8HZ2

Local Rents

39 rents from £850/mo to £7K/mo, average is £1.6K/mo.

RentDateDistanceAddressBeds 
£1,10007/240.14 miHarrow Drive, East Wittering2
£1,05012/240.21 miEast Wittering1
£1,07506/240.21 miSandlands Point, East Wittering2
£1,60006/240.22 miShore Road, East Wittering3
£1,40006/240.24 miSandpiper Walk, West Wittering3
£1,75007/240.25 miChurch Road East Wittering PO203
£1,30007/240.5 miStocks Lane PO20 3
£91506/240.66 mi-2
£1,15002/250.78 mi-2
£1,00012/240.81 mi-2
£1,00007/240.82 miCormorant Way, Chichester2
£2,20007/240.86 miHoneys, Bracklesham Bay3
£3,25004/250.91 mi-4
£3,00007/240.92 miWest Wittering, Chichester, PO204
£3,00012/240.92 mi-4
£3,50003/250.92 mi-4
£1,50007/240.95 miCharlie Drive, Bracklesham Bay, Chichester, PO202
£2,49506/241.04 miMiddlefield, West Wittering, Chichester, PO203
£2,75006/241.05 miRoyce Close, West Wittering4
£2,49507/241.05 miThe Wad, West Wittering, Chichester, PO203
£1,20006/241.07 miWillow Way, Bracklesham Bay, Chichester2
£2,90001/251.15 mi-4
£1,39512/241.32 miAxford Close, Bracklesham Bay, Chichester, PO202
£1,15006/241.38 miTide Way, Bracklesham Bay2
£1,45007/241.38 miTide Way Bracklesham Bay PO203
£1,30012/241.41 mi-2
£1,30007/241.41 miHayward Place, Bracklesham Bay, Chichester, PO202
£1,15007/241.41 miTide Way, Bracklesham Bay, Chichester2
£2,20007/241.51 miEast Bracklesham Drive, Bracklesham Bay3
£85004/251.7 mi-1
£3,00007/241.85 miThe Spinney, Itchenor, PO203
£1,65004/252.05 mi-2
£2,32510/242.06 mi-4
£2,25007/242.16 miBatchmere4
£6,95007/242.27 miSpinney Lane, Itchenor, Chichester West Sussex, PO205
£4,50007/242.33 miWestlands Lane, Birdham, PO204
£2,00006/242.37 miOrchard Lane, Itchenor, Chichester, West Sussex, PO204
£1,85007/242.46 miThe Street, Itchenor, Chichester, West Sussex, PO204
£1,27506/242.47 miKewells Corner, Birdham2

Local Area Statistics

Population in PO20

32,437

Population in Chichester

75,877

Town centre distance

6.14 miles away

Nearest school

0.30 miles away

Nearest train station

5.11 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+7%

Sales demand

Buyer's market

Capital growth (5yrs)

+14%

Property History

Price changed to £365,000

March 12, 2025

Listed for £375,000

January 16, 2025

Floor Plans

Description

  • Two Double Bedrooms +
  • Cosy Living Room +
  • Separate Dining Room +
  • Contemporary Shower Room +
  • Private Rear Garden +
  • Garage and Driveway +
  • Easy Access to East Wittering Village +
  • Sought After Location +

The property features a cosy sitting room and a separate dining room with French doors leading onto the patio. At the rear of the property, an extension accommodates the kitchen, which boasts a dual aspect, a door to the garden, ample storage, and space for appliances. Additionally, the property includes a contemporary shower room and two generously sized double bedrooms, with ample space for wardrobes. There are also two additional storage cupboards, located in the lounge and hallway. The rear garden is private and secluded, benefiting from a south-easterly orientation. Additional advantages include a garage and a spacious driveway with room for multiple vehicles. The property also offers potential for modernisation, allowing you to customise the home to your personal preferences. 23 Cakeham Way is ideally situated for easy access to the beach and East Wittering Village, which offers a variety of amenities. The Sea Estate provides a peaceful lifestyle with a welcoming community atmosphere, making it ideal for families, retirees, and those seeking a second home.

EPC Rating: C

Agent Details

Henry Adams, East Wittering

01243 973409

Next Steps?

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