3 Bed Terraced House, Refurb/BRRR, Romsey, SO51 8FD, £325,000

Romsey, SO51 8FD - 3 months ago

Refurb/BRRR
~93 m²
+7 photos

ValuationUndervalued

Sold Prices£200K - £620K
Sold Prices/m²£2.9K/m² - £6.1K/m²

 

 

Square Metres

~93 m²
Price/m²£3.5K/m²

Value Estimate

£353,500
BMV1%

 

 

End Value (After Refurb)

£430,276

Uplift in Value

+23%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£81,250

Stamp Duty & Legal Fees

£16,700

Refurb Costs

£41,600

Bridging Loan Interest

£8,531

Total Cash In

£149,831

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£430,276

Mortgage (After Refinance)

£322,707

Mortgage LTV

75%

Cash Released

£78,957

Cash Left In

£70,874

Equity

£107,569

Rent Range

£1,000 - £2,000

Rent Estimate

£1,400

Running Costs/mo

£1,645

Cashflow/mo

£-245

Cashflow/yr

£-2,935

Gross Yield

5%

Local Sold Prices

51 sold prices from £200K to £620K, average is £385K. £2.9K/m² to £6.1K/m², average is £4.5K/m².

PriceDateDistanceAddressBeds 
£343K03/210.02 mi9, Cherville Street, Romsey, Hampshire SO51 8FB3
£314K03/210.09 mi21, Mill Lane, Romsey, Hampshire SO51 8EW3
£440K09/230.1 mi8, Church Road, Romsey, Hampshire SO51 8EY3
£364K01/210.13 mi13, Princes Road, Romsey, Hampshire SO51 8DS3
£395K12/220.14 mi9, Princes Road, Romsey, Hampshire SO51 8DS3
£316K06/210.15 mi15, Hollman Drive, Romsey, Hampshire SO51 8ES3
£290K03/230.16 mi2, Station Road, Romsey, Hampshire SO51 8DL3
£295K03/210.16 mi26, Duttons Road, Romsey, Hampshire SO51 8DR3
£325K06/210.2 mi11, Lansdowne Close, Romsey, Hampshire SO51 8FQ3
£312K04/230.2 mi18, Lansdowne Close, Romsey, Hampshire SO51 8FQ3
£349K04/230.2 mi28, Lansdowne Close, Romsey, Hampshire SO51 8FQ3
£415K02/210.2 mi1, Coachmakers Mews, Romsey, Hampshire SO51 8AH3
£367K12/200.2 mi21, Station Road, Romsey, Hampshire SO51 8DP3
£320K08/210.21 mi34, Priestlands, Romsey, Hampshire SO51 8FL3
£390K02/210.21 mi17, Lansdowne Gardens, Romsey, Hampshire SO51 8FN3
£315K09/210.22 mi18, Malmesbury Road, Romsey, Hampshire SO51 8FT3
£360K10/230.23 mi51, Malmesbury Road, Romsey, Hampshire SO51 8FS3
£600K10/230.25 mi10, Love Lane, Romsey, Hampshire SO51 8DE3
£282.5K05/210.29 mi52, Alma Road, Romsey, Hampshire SO51 8ED3
£435K03/230.3 mi7, Linden Road, Romsey, Hampshire SO51 8DA3
£415K08/210.31 mi9, Linden Road, Romsey, Hampshire SO51 8DA3
£315K05/230.31 mi50, Alma Road, Romsey, Hampshire SO51 8ED3
£295K06/230.31 mi48, Alma Road, Romsey, Hampshire SO51 8ED3
£425K07/230.31 mi40, Alma Road, Romsey, Hampshire SO51 8ED3
£460K04/210.31 mi3, Pembroke Close, Romsey, Hampshire SO51 8BS3
£380K12/200.34 mi38, Rivermead Close, Romsey, Hampshire SO51 8HQ3
£490K03/210.34 mi35, Rivermead Close, Romsey, Hampshire SO51 8HQ3
£460K03/210.34 mi36, Rivermead Close, Romsey, Hampshire SO51 8HQ3
£425K03/210.35 mi7, Laurence Mews, Romsey, Hampshire SO51 7SB3
£305K11/200.35 mi42, Mountbatten Avenue, Romsey, Hampshire SO51 8DZ3
£200K06/230.36 mi9, St Johns Gardens, Romsey, Hampshire SO51 7RW3
£350K06/210.37 mi28, Palmerston Street, Romsey, Hampshire SO51 8GG3
£431.6K11/220.37 mi33, Kingfisher Way, Romsey, Hampshire SO51 7RY3
£425K03/230.37 mi36, Kingfisher Way, Romsey, Hampshire SO51 7RY3
£385K11/200.37 mi109, The Hundred, Romsey, Hampshire SO51 8BZ3
£620K09/210.37 mi101, The Hundred, Romsey, Hampshire SO51 8BZ3
£450K07/230.37 mi81, The Hundred, Romsey, Hampshire SO51 8BZ3
£450K07/230.37 mi81, The Hundred, Romsey, Hampshire SO51 8BZ3
£350K12/200.37 mi101, Middlebridge Street, Romsey, Hampshire SO51 8HJ3
£475K07/210.37 mi17, Middlebridge Street, Romsey, Hampshire SO51 8HJ3
£600K01/230.4 mi4, Tench Way, Romsey, Hampshire SO51 7RX3
£447K03/230.42 mi49, Withy Close, Romsey, Hampshire SO51 7SA3
£400K12/200.43 mi65, Riverside Gardens, Romsey, Hampshire SO51 8HN3
£415K03/210.43 mi62, Riverside Gardens, Romsey, Hampshire SO51 8HN3
£595K01/230.43 mi45, Riverside Gardens, Romsey, Hampshire SO51 8HN3
£402K12/220.43 mi6, Riverside Gardens, Romsey, Hampshire SO51 8HN3
£380K09/230.43 mi32, Riverside Gardens, Romsey, Hampshire SO51 8HN3
£295K11/200.43 mi34, Winchester Road, Romsey, Hampshire SO51 8AA3
£317K09/210.43 mi32, Winchester Road, Romsey, Hampshire SO51 8AA3
£275K05/210.44 mi46, Middlebridge Street, Romsey, Hampshire SO51 8HL3
£520K03/230.47 mi1, Southampton Road, Romsey, Hampshire SO51 8AD3

Local Rents

32 rents from £1K/mo to £2K/mo, average is £1.4K/mo.

RentDateDistanceAddressBeds 
£1,60002/250.1 mi-3
£2,00012/240.14 miPrinces Road, Romsey, Hampshire, SO513
£1,30009/240.18 miRomsey Latimer Street FURNISHED3
£1,50009/240.2 miDuttons Road, Romsey3
£1,40009/240.32 miRivermead Close, Romsey, SO513
£1,70012/240.34 miRomsey3
£1,50012/240.35 miRivermead Close, Romsey, Hampshire, SO513
£1,75012/240.44 miRiverside Gardens, Romsey, Hampshire, SO513
£1,00001/250.56 mi-3
£1,40009/240.63 miRomsey Hayter Gardens UNFURNISHED3
£1,60009/240.63 miWinchester Road, Romsey, Hampshire, SO513
£1,50012/240.73 miPetty Close, Romsey3
£1,35009/230.84 mi-3
£1,45001/250.84 mi-3
£1,45003/250.84 mi-3
£1,45012/240.95 miFairview Drive, ROMSEY3
£1,47512/240.95 miFairview Drive, ROMSEY3
£1,45002/251.06 mi-3
£1,60012/241.07 miViney Avenue, Romsey3
£1,40009/241.07 miKinver Close, Romsey3
£1,35009/241.1 miViney Avenue, Romsey3
£1,40012/241.12 miWhitenap Lane, Romsey3
£1,50012/241.14 miLincoln Close, Romsey3
£1,30002/241.16 miWessex Gardens, Romsey, SO513
£1,50009/241.17 miRomsey3
£1,50012/241.18 miRomsey Hogarth Close UNFURNISHED3
£1,50012/241.19 miAddison Close, Romsey3
£1,50012/241.2 miRomsey3
£1,40009/241.22 miRomsey Beverley Gardens UNFURNISHED3
£1,20009/241.23 miTavistock Close, Romsey, Hampshire, SO513
£1,30010/231.23 mi-3
£1,30010/241.23 mi-3

Local Area Statistics

Population in SO51

26,989

Town centre distance

0.42 miles away

Nearest school

0.10 miles away

Nearest train station

0.32 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

-5%

Sales demand

Balanced market

Capital growth (5yrs)

+14%

Property History

Price changed to £325,000

March 16, 2025

Listed for £350,000

January 17, 2025

Floor Plans

Description

  • No Forward Chain +
  • Sought-After Town Centre Location +
  • In Need Of Modernisation +
  • Freehold +
  • Potential for Extension (STP) +
  • Large Rear Garden +

Location:
Romsey is a picturesque market town that offers a wealth of amenities and conveniences for both residents and visitors.  At its heart, you'll find a Waitrose supermarket alongside a delightful mix of independent shops, cosy coffee houses, and a variety of restaurants and bars.  Essential services such as a library, doctors' surgeries, and dental clinics are readily available, ensuring all your needs are met.  The town's charm is further enhanced by its scenic walking routes and the historic Romsey Abbey, a must-visit destination for those who appreciate local heritage and natural beauty.

Romsey is also well-connected, making it an ideal hub for travel.  Regular bus services link the town to nearby cities such as Winchester, Eastleigh, and Southampton, with a conveniently located bus stop opposite the town centre.  For drivers, the M27 can be accessed via Junctions 2 and 3, providing routes to Southampton, Salisbury, and Winchester, while the M3 offers a direct connection to London.  These excellent transport links make Romsey the perfect base for both local commuting and long-distance travel.

This charming period property retains a number of character features and offers well-proportioned accommodation, including two spacious reception rooms, a kitchen, a downstairs bathroom, and three unusually configured bedrooms. 

Outside, the rear features a traditional Victorian terraced cottage garden, accessible via the vehicular road leading to the rear of Romsey School and Abbeyfield House.

Centrally positioned in the heart of Romsey, the property presents an excellent investment opportunity.  Once refurbished & reconfigured, it is estimated to achieve a rental income of approximately £1,400 per month, making it an appealing choice for investors or those looking to enjoy the convenience of a town centre lifestyle.

Agents Note: The Property is subject to covenants. The rear boundary fence can measure no higher than 3ft6in. The adjoining property is occupied by a protected tenant who has a right of way over the garden footpath running along the boundary between the two properties. This right of way will come to an end on the determination of this protected tenancy.

Test Valley Council Tax:
Band: D, Price: £2,101.13 for the year 2024/25

Agent Details

Pearsons, Romsey

01794 514516

Next Steps?

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