3 Bed Flat, Refurb/BRRR, Bideford, EX39 1JB, £110,000

Kingsley Road, Westward Ho!, EX39 1JB - 12 views - 3 months ago

Sold STC
Leasehold
Refurb/BRRR
~93 m²
+4 photos

ValuationFair Value

Sold Prices£175K - £500K
Sold Prices/m²£1.8K/m² - £1.8K/m²

 

 

Square Metres

~93 m²
Price/m²£1.2K/m²

Value Estimate

£111,100

 

 

End Value (After Refurb)

£268,825

Uplift in Value

+144%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£27,500

Stamp Duty & Legal Fees

£4,500

Refurb Costs

£37,702

Bridging Loan Interest

£2,888

Total Cash In

£74,339

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Estimated Sale Price

£268,825

Agent Fees (1%)

£2,688

Bridging Loan

£82,500

Bridging Loan Interest

£2,888

Flip Profit

£109,298

Local Sold Prices

9 sold prices from £175K to £500K, average is £375K.

PriceDateDistanceAddressBeds 
£230K12/210 miFlat 9, Rowena, Kingsley Road, Westward Ho, Bideford, Devon EX39 1JB3
£427.5K12/220.15 miFlat 19, Ocean Park, Atlantic Way, Westward Ho, Bideford, Devon EX39 1NA3
£500K10/200.33 miFlat 10, Nassau Court, Merley Road, Westward Ho, Bideford, Devon EX39 1GZ3
£265K11/221.87 miApartment 1, The Old School, Geneva Place, Bideford, Devon EX39 3FU3
£178K04/211.87 miApartment 1, The Old School, Geneva Place, Bideford, Devon EX39 3FU3
£375K05/212.22 miFlat 4, Longbridge Wharf, New Road, Bideford, Devon EX39 5AL3
£390K05/232.28 miFlat 4, Longbridge Wharf, New Road, Bideford, Devon EX39 5AL3
£485K10/202.62 miFlat 12a, Marine Court, Marine Parade, Instow, Bideford, Devon EX39 4JP3
£175K05/212.84 mi4, Goaman Road, Bideford, Devon EX39 4HB3

Local Rents

51 rents from £550/mo to £2.5K/mo, average is £800/mo.

RentDateDistanceAddressBeds 
£85010/240.06 mi-2
£62505/240.07 miCleveland Terrace, Kingsley Road, Westward Ho!1
£60010/230.07 mi-1
£55005/240.07 miAtlantic Way, Westward Ho!, Devon1
£95003/240.22 miSpringfield Terrace, Westward Ho Bideford3
£1,10004/240.4 miGolf Links Road, Westward Ho, Bideford2
£1,05004/240.49 miCurlew Drive, Westward Ho!, Bideford, Devon, EX393
£85004/240.54 miRidgeway Court, Westward Ho, EX392
£85005/240.54 mi-2
£95003/240.61 mi-2
£95006/240.61 mi-2
£64004/240.62 miKala Fair, Westward Ho2
£1,75004/250.72 mi-3
£77510/230.8 mi-2
£65010/230.89 mi-2
£75504/240.89 mi-2
£72509/240.89 mi-2
£71504/250.89 mi-2
£82504/241.09 miFore Street, Bideford, Devon2
£97503/241.1 mi-3
£92507/241.11 mi-3
£86004/241.11 miWindsor Road, Bideford3
£86003/241.13 miWindsor Road, Bideford3
£80005/241.18 miNorth Street, Bideford, Devon2
£75005/241.2 miCarnegie North, Clevelands Park, Northam, Bideford, EX392
£75005/241.2 miCarnegie North, Clevelands Park, Northam, Bideford, EX392
£72510/241.2 mi-2
£1,30004/241.33 miJH Taylor Drive, Northam, Bideford, Devon, EX394
£85004/241.37 miKimberley Park, Bideford, Devon2
£85004/241.7 miRiverside Court, Bideford, Devon2
£59509/231.71 mi-1
£70007/231.71 mi-3
£62504/241.72 mi-1
£58004/241.79 miManchester House, Bideford, Devon2
£83503/241.81 miMyrtle Grove, Bideford, Devon3
£85008/231.82 mi-2
£90003/251.82 mi-2
£95003/241.86 miPitt Lane, Bideford3
£62504/241.88 miColdharbour, Bideford2
£64004/241.89 miColdharbour, Bideford, Devon2
£75004/241.9 miGeneva Place, Bideford2
£2,50002/251.9 mi-2
£2,50011/241.9 mi-2
£90009/231.91 mi-3
£59512/231.94 mi-1
£80003/241.95 miHigh Street, Bideford, Devon, EX393
£56004/241.96 miThe Mews, Bideford1
£65006/241.96 mi-1
£65006/241.96 mi-1
£69512/231.96 mi-2
£82504/241.97 miSams Close, Bideford, EX392

Local Area Statistics

Population in EX39

37,175

Town centre distance

2.15 miles away

Nearest school

1 miles away

Nearest train station

8.01 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+5%

Sales demand

Buyer's market

Capital growth (5yrs)

+21%

Property History

Listed for £110,000

January 18, 2025

Floor Plans

Description

  • Renovation Project +
  • Spacious Ground Floor Accommodation +
  • Front Outlook Towards the Sea +
  • 3 Bedrooms +
  • Living Room +
  • Kitchen/Diner +
  • Walking Distance of the Beach & Village Amenities +
  • No Onward Chain +

A 3 bedroom ground floor apartment requiring renovation following smoke/water damage yet offering spacious accommodation with an outlook towards the sea & coast from the living areas whilst the long sandy beach and village amenities are within walking distance.

1 Rowena is a renovation project which should hold particular appeal to experienced developers or purely those seeking a home near the sea which offers a blank canvas to create a dwelling to reflect their vision & taste.

The spacious accommodation comprises 3 bedrooms, each of a good size, together with kitchen/diner and separate lounge which each enjoy an outlook out towards the coast.

Given the present condition, buyers may find it difficult to secure a mortgage, we therefore encourage the relevant financial advice is sought prior to viewing.

Tenure: Leasehold - The balance of a 200 year lease commencing 1976 (151 years remaining). There is currently a service charge of £110 per month in contribution to the buildings maintenance & insurance costs.

Agents Note: There are a number of flats to be sold by the freeholder, with the intention thereafter to offer a share of the freehold to each respective leaseholder (equating to a 1/11th shareholding).

Services: All mains services
Energy Performance Certificate (EPC): TBC
Council Tax: Band A (1590.47 per annum)

Notice
Please note we have not tested any apparatus, fixtures, fittings, or services. Interested parties must undertake their own investigation into the working order of these items. All measurements are approximate and photographs provided for guidance only.

Agent Details

Regency Estate Agents, Bideford

01237 422433

Next Steps?

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