3 Bed Bungalow, Refurb/BRRR, Polegate, BN26 5BQ, £285,000

48 Windmill Road, Polegate, East Sussex, BN26 6AG - 2 views - 3 months ago

Sold STC
Refurb/BRRR
ROI: 3%
~71 m²
+10 photos

ValuationOvervalued

Sold Prices£172.5K - £540K
Sold Prices/m²£2K/m² - £7.5K/m²

 

 

Square Metres

~71.07 m²
Price/m²£4K/m²

Value Estimate

£253,301

 

 

End Value (After Refurb)

£276,991

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£71,250

Stamp Duty & Legal Fees

£19,700

Refurb Costs

£33,625

Bridging Loan Interest

£7,481

Total Cash In

£133,806

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£276,991

Mortgage (After Refinance)

£207,743

Mortgage LTV

75%

Cash Left In

£133,806

Equity

£69,248

Rent Range

£1,300 - £1,900

Rent Estimate

£1,485

Running Costs/mo

£1,183

Cashflow/mo

£302

Cashflow/yr

£3,629

ROI

3%

Gross Yield

6%

Local Sold Prices

50 sold prices from £172.5K to £540K, average is £319K. £2K/m² to £7.5K/m², average is £3.6K/m².

PriceDateDistanceAddressBeds 
£263K03/210.04 mi13, Manor Way, Polegate, East Sussex BN26 5AT3
£337.5K12/210.07 mi32, Chestnut Drive, Polegate, East Sussex BN26 5AN3
£447K01/240.07 mi101, Brightling Road, Polegate, East Sussex BN26 5AX3
£428K10/220.14 mi7, Pevensey Road, Polegate, East Sussex BN26 6HJ3
£310K11/230.14 mi8, Porters Way, Polegate, East Sussex BN26 6AP3
£320K04/210.15 mi11, Windmill Road, Polegate, East Sussex BN26 5BG3
£262.5K07/210.15 mi60, Heron Ridge, Polegate, East Sussex BN26 5BJ3
£252.5K03/210.15 mi25, Heron Ridge, Polegate, East Sussex BN26 5BJ3
£172.5K07/230.15 mi59, Heron Ridge, Polegate, East Sussex BN26 5BJ3
£358K11/220.15 mi22, Heron Ridge, Polegate, East Sussex BN26 5BJ3
£312K04/240.15 mi87, Station Road, Polegate, East Sussex BN26 6EB3
£305K09/230.16 mi15, Chestnut Drive, Polegate, East Sussex BN26 5AL3
£285K01/240.16 mi4, Chestnut Drive, Polegate, East Sussex BN26 5AL3
£340K04/230.16 mi3, Burnside, Polegate, East Sussex BN26 5AW3
£440K06/230.17 mi42, Brightling Road, Polegate, East Sussex BN26 5AU3
£437.5K02/210.17 mi36, Spurway Park, Polegate, East Sussex BN26 5DQ3
£439.9K11/200.17 mi13, Spurway Park, Polegate, East Sussex BN26 5DQ3
£520K09/220.17 mi36, Spurway Park, Polegate, East Sussex BN26 5DQ3
£540K03/230.17 mi35, Spurway Park, Polegate, East Sussex BN26 5DQ3
£278K01/210.17 mi1, Oaklands Close, Polegate, East Sussex BN26 6HB3
£312.5K12/230.19 mi14, Walnut Walk, Polegate, East Sussex BN26 5AJ3
£345K03/210.19 mi7, Southern Avenue, Polegate, East Sussex BN26 6EZ3
£321K04/240.22 mi11, Nursery Close, Polegate, East Sussex BN26 6JY3
£360K08/240.22 mi11, Walnut Walk, Polegate, East Sussex BN26 5AD3
£415K06/230.23 mi18a, St Johns Road, Polegate, East Sussex BN26 5BP3
£275K06/220.24 mi26, Lynholm Road, Polegate, East Sussex BN26 6JR3
£365K11/220.24 mi71, St Johns Road, Polegate, East Sussex BN26 5BT3
£450K10/220.27 mi11, St Johns Road, Polegate, East Sussex BN26 5BN3
£295K01/210.27 mi21, Station Road, Polegate, East Sussex BN26 6AY3
£295K11/200.28 mi27, Gilda Crescent, Polegate, East Sussex BN26 6AW3
£475K12/220.28 mi23, Western Avenue, Polegate, East Sussex BN26 6EP3
£215K12/200.29 mi10, Lynholm Road, Polegate, East Sussex BN26 6JW3
£365K04/230.32 mi98, Eastbourne Road, Polegate, East Sussex BN26 5DF3
£314.9K05/210.32 mi5, Romney Road, Polegate, East Sussex BN26 6LJ3
£275K11/210.32 mi17, Lynholm Road, Polegate, East Sussex BN26 6JN3
£300K07/240.32 mi17, Lynholm Road, Polegate, East Sussex BN26 6JN3
£330K09/230.33 mi12, Westfield Close, Polegate, East Sussex BN26 6EJ3
£318K06/240.33 mi25, West Close, Polegate, East Sussex BN26 6EQ3
£321.5K03/210.33 mi13, West Close, Polegate, East Sussex BN26 6EQ3
£390K10/230.33 mi10, Hastings Close, Polegate, East Sussex BN26 6LD3
£290K08/230.35 mi20, Brook Street, Polegate, East Sussex BN26 6BQ3
£300K10/220.35 mi3a, Brook Street, Polegate, East Sussex BN26 6BQ3
£362K10/230.36 mi1, Victoria Road, Polegate, East Sussex BN26 6DD3
£300K06/230.37 mi47, Lynholm Road, Polegate, East Sussex BN26 6JL3
£318K08/220.37 mi53, Lynholm Road, Polegate, East Sussex BN26 6JL3
£311K06/220.37 mi33, Lynholm Road, Polegate, East Sussex BN26 6JL3
£200K10/230.39 mi8, Willow Drive, Polegate, East Sussex BN26 5DN3
£477.5K01/240.4 mi8, Clement Lane, Polegate, East Sussex BN26 5DR3
£325K10/220.41 mi33, Brook Street, Polegate, East Sussex BN26 6BH3
£245K10/220.41 mi35, Brook Street, Polegate, East Sussex BN26 6BH3

Local Rents

10 rents from £1.3K/mo to £1.9K/mo, average is £1.4K/mo.

RentDateDistanceAddressBeds 
£1,40006/240.68 mi-3
£1,50007/230.78 mi-3
£1,40004/240.85 miSwinburne Avenue, Eastbourne3
£1,45003/240.88 miWannock Lane, Eastbourne3
£1,90004/240.89 miConiston Avenue3
£1,40010/230.9 mi-3
£1,35004/241.07 miWillingdon Trees - Let Agreed3
£1,75002/241.21 mi-3
£1,30003/241.21 miCroxden Way, EASTBOURNE3
£1,40003/241.23 miCroxden Way, Hampden Park 3

Local Area Statistics

Population in BN26

11,451

Town centre distance

0.22 miles away

Nearest school

0.40 miles away

Nearest train station

0.22 miles away

 

 

Rental growth (12m)

+38%

Sales demand

Balanced market

Capital growth (5yrs)

+19%

Property History

Listed for £285,000

January 24, 2025

Floor Plans

Description

  • Requires Modernisation +
  • Extended Semi Detached +
  • Lounge +
  • Dining/Breakfast Room +
  • Kitchen +
  • 3 Bedrooms +
  • Bathroom +
  • Gas Central Heating +
  • 50' Rear Garden +
  • Driveway +

SEE OUR 3D VIRTUAL TOUR - In Need of Modernisation - Much Potential - Extended Semi Detached Bungalow - Lounge - Dining/Breakfast Room - Lean-To - Kitchen - 3 Bedrooms - Bathroom - Gas c/h - Part dbl glz & part sec glz - 50' Rear Garden - Drive - Store/Garage

An extended 3-bedroomed semi detached bungalow in need of modernisation offering much potential. The accommodation provides a lounge with access to the kitchen and an extended dining/breakfast room, lean-to and bathroom/wc. There is a gas fired central heating system with the boiler located in the loft, and the property is partly double and secondary glazed. Outside at the front is a drive and the pleasant 50' rear garden backs onto a meandering stream and also includes an older store/garage. NO ONGOING CHAIN.

The property is approximately 1/2 a mile from Polegate High Street, which has a variety of shops, medical centres, bus services and a mainline railway station. There is a Tesco Garage at Eastbourne Road, where further buses pass and access to the A27 and A22 is nearby. Also close by, from Brightling Road, are The William Daley Fields, which have recreational areas and countryside walks.

Part frosted double glazed front door into Entrance Porch with inner door to Hallway.

Lounge - 4.24m x 3.64m (13'10" x 11'11") -

Kitchen - 2.50m x 1.92m (8'2" x 6'3") -

Dining/Breakfast Room - 2.81m max x 2.42m max (9'2" max x 7'11" max) -

Lean-To - 2.96m x 1.76m (9'8" x 5'9") -

Bedroom 1 - 3.86m max x 3.35m (12'7" max x 10'11") -

Bedroom 2 - 3.31m max x 2.25m max (10'10" max x 7'4" max) -

Bedroom 3 - 2.77m x 2.36m (9'1" x 7'8") -

Bathroom - 2.35m max x 1.83m (7'8" max x 6'0") -

Outside - To the front is an area of lawn with flower borders having a variety of mature shrubs and plants as well as a Driveway.

Rear Garden - 15.24m approximately in depth (49'11" approximatel - The pleasant rear garden backs onto a meandering stream and has areas of lawn, flower borders with a variety of mature shrubs and trees, pond, outside tap and side gate.

Store/Garage - 5.49m x 2.71m approx internal measurements (18'0" - (Access is restricted) having double doors, power and light and at the side is a glazed lean-to.

Council Tax - The property is in Band C. The amount payable for 2024-2025 is £2,216,62. This information is taken from voa.gov.uk

Information - From the hallway is access via a ladder to a mostly boarded and insulated loft with light and a rear Velux window as well as a Vaillant gas fired boiler. There is an airing cupboard housing the hot water cylinder in bedroom three and the electric meter cupboard can also be found in the hallway. The property is partly double glazed however, the majority of windows are secondary glazed.

Approximately 66 square metres or 710 square feet.

Agent Details

Archer & Partners, Polegate

01323 409774

Next Steps?

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