3 Bed Terraced House, Refurb/BRRR, Southampton, SO16 6FN, £215,000

Thorndike Road, Southampton, SO16 6FN - 7 views - 3 months ago

Leasehold
Refurb/BRRR
Planning
ROI: 4%
~93 m²
+7 photos

ValuationFair Value

Sold Prices£165K - £440K
Sold Prices/m²£1.9K/m² - £4.7K/m²

 

 

Square Metres

~93 m²
Price/m²£2.3K/m²

Value Estimate

£217,150

 

 

End Value (After Refurb)

£271,630

Uplift in Value

+26%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£53,750

Stamp Duty & Legal Fees

£7,650

Refurb Costs

£41,600

Bridging Loan Interest

£5,644

Total Cash In

£110,394

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£271,630

Mortgage (After Refinance)

£203,722

Mortgage LTV

75%

Cash Released

£42,472

Cash Left In

£67,922

Equity

£67,907

Rent Range

£1,200 - £2,995

Rent Estimate

£1,533

Running Costs/mo

£1,175

Cashflow/mo

£358

Cashflow/yr

£4,291

ROI

4%

Gross Yield

9%

Local Sold Prices

50 sold prices from £165K to £440K, average is £274.5K. £1.9K/m² to £4.7K/m², average is £3K/m².

PriceDateDistanceAddressBeds 
£216K04/230.09 mi32, Coxford Road, Southampton SO16 5FJ3
£225K02/210.09 mi40, Coxford Road, Southampton SO16 5FJ3
£315K04/230.1 mi45, Coxford Road, Southampton SO16 5FG3
£350K02/230.14 mi24, Brightside Road, Maybush, Southampton SO16 5FH3
£297.3K03/210.15 mi421, Romsey Road, Southampton SO16 9GJ3
£280.5K09/210.15 mi475, Romsey Road, Southampton SO16 9GJ3
£327.5K12/210.15 mi445, Romsey Road, Southampton SO16 9GJ3
£275K05/230.15 mi427, Romsey Road, Southampton SO16 9GJ3
£260K01/210.16 mi89, Rownhams Road, Southampton SO16 5DX3
£238K06/210.16 mi1, Ross Gardens, Southampton SO16 6BY3
£275K06/210.17 mi30, Rownhams Road, Southampton SO16 5DY3
£265K05/210.17 mi29, Cardinal Place, Maybush, Southampton SO16 4HR3
£305K03/210.17 mi41, Cardinal Place, Maybush, Southampton SO16 4HR3
£360K02/230.18 mi280, Romsey Road, Southampton SO16 4BX3
£215K01/210.18 mi24, Lockerley Crescent, Southampton SO16 4ES3
£180K12/220.19 mi319, Wimpson Lane, Southampton SO16 4PW3
£305K11/200.19 mi26, Rylandes Court, Southampton SO16 5DH3
£281K01/210.2 mi27, Rylandes Court, Southampton SO16 5DH3
£350K12/220.2 mi7, Rylandes Court, Southampton SO16 5DH3
£275K05/230.21 mi53, Maybush Road, Southampton SO16 9ET3
£312.5K10/210.21 mi27, Maybush Road, Southampton SO16 9ET3
£216K03/210.21 mi25, Maybush Road, Southampton SO16 9ET3
£318.5K12/220.21 mi31, Maybush Road, Southampton SO16 9ET3
£240K03/230.23 mi3, Coxford Drove, Southampton SO16 5ER3
£315K09/210.23 mi5, Glencoyne Gardens, Southampton SO16 9JU3
£250K07/230.25 mi20, Irving Road, Southampton SO16 4DZ3
£255K06/230.25 mi41, Sycamore Road, Southampton SO16 6BL3
£215K03/210.25 mi10, Alder Road, Southampton SO16 5EP3
£290K04/230.25 mi323, Romsey Road, Southampton SO16 4BW3
£310K05/230.25 mi307, Romsey Road, Southampton SO16 4BW3
£210K05/210.25 mi267, Romsey Road, Southampton SO16 4BW3
£364K12/220.25 mi21, Ashmead Road, Southampton SO16 5DJ3
£220K06/210.25 mi34, Irving Road, Southampton SO16 4EA3
£282K05/210.26 mi82, Colby Street, Southampton SO16 9RU3
£329.9K02/230.27 mi40, Ashmead Road, Southampton SO16 5DL3
£274K06/210.29 mi13, Lancaster Road, Maybush, Southampton SO16 5DN3
£225K05/210.3 mi80, Warren Avenue, Southampton SO16 6AG3
£207.2K06/230.3 mi19, Coxford Drove, Southampton SO16 5FE3
£375K12/220.3 mi54, Cowley Close, Southampton SO16 9WD3
£165K03/210.31 mi28, Tindale Road, Southampton SO16 9EW3
£272K05/230.32 mi34, Palm Road, Southampton SO16 5EU3
£244K05/210.33 mi23, Cowley Close, Southampton SO16 9WD3
£266K10/210.36 mi112, Rownhams Road, Southampton SO16 5EA3
£250K04/230.36 mi65, Larch Road, Southampton SO16 5EX3
£188.5K04/210.36 mi37, Larch Road, Southampton SO16 5EX3
£243K06/210.38 mi178, Warren Crescent, Southampton SO16 6AX3
£285K02/210.39 mi24, Kennedy Road, Southampton SO16 5DQ3
£215K05/230.43 mi12, Vine Road, Southampton SO16 5TA3
£359K02/210.44 mi57, Upper Brownhill Road, Southampton SO16 5NG3
£440K12/220.44 mi39, Upper Brownhill Road, Southampton SO16 5NG3

Local Rents

37 rents from £1.2K/mo to £3K/mo, average is £1.5K/mo.

RentDateDistanceAddressBeds 
£1,25009/240.11 miCoxford Close, SOUTHAMPTON3
£1,35009/240.17 miCardinal Place, SO163
£1,45012/240.19 mi-3
£1,52510/240.23 mi-3
£1,65009/240.23 miWarren Close, Southampton, SO163
£1,60010/240.24 mi-3
£1,35004/250.26 mi-3
£1,40009/240.31 mi|Ref: R207234|, Sycamore Road, Southampton, SO16 6BP3
£1,40009/240.32 miWatts Close, Southampton3
£1,35001/250.32 mi-3
£1,60009/240.33 miRosewall Road, SOUTHAMPTON3
£1,49508/240.34 mi-3
£1,55009/240.35 miWarren Avenue, Southampton3
£1,39512/240.39 mi-3
£1,50004/250.39 mi-3
£1,50004/250.39 mi-3
£2,10001/250.4 mi-3
£1,45009/240.44 miRomsey Road, Southampton3
£1,40009/240.44 miConifer Road, Southampton, SO163
£1,55003/250.47 mi-3
£1,50009/240.5 miOlive Road, Southampton, SO163
£1,50009/240.5 mi-3
£1,40003/250.51 mi-3
£1,25002/240.51 miWinchester Road, Southampton3
£1,35012/240.52 mi-3
£1,60009/240.53 miOrion Close, Southampton, Hampshire, SO163
£1,45003/250.54 mi-3
£1,50001/250.54 mi-3
£1,80012/240.54 mi-3
£1,50009/240.55 miRomsey Road, Southampton, SO163
£2,99509/240.55 mi-3
£2,65004/250.55 mi-3
£1,30009/240.56 miHollybrook Close, Southampton, Hampshire, SO163
£1,30009/240.56 miHollybrook Close, SOUTHAMPTON3
£1,20011/240.56 mi-3
£1,49904/250.56 mi-3
£1,50009/240.58 miWindbury Road, SOUTHAMPTON3

Local Area Statistics

Population in SO16

66,270

Population in Southampton

428,247

Town centre distance

2.46 miles away

Nearest school

0.30 miles away

Nearest train station

1.28 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+7%

Sales demand

Seller's market

Capital growth (5yrs)

+18%

Property History

Listed for £215,000

January 28, 2025

Floor Plans

Description

  • Three bedroom end of terrace house +
  • Off road parking & Garage +
  • End of chain +
  • In need of modernisation +
  • Big living room +
  • Good sized kitchen +
  • WC +
  • Desired location to local amenities +
  • EPC Awatied +
  • Council Tax Band B +

Welcome to 20 Thorndike Road, a Three-bedroom End of terrace property located in a popular residential area of Southampton. Leasehold house with 137 years remaining with £5 a year ground rent.
This property is ideal for first-time buyers looking to get on the property ladder, or for developers seeking a project with plenty of potential. Offering generous room sizes, a large garden, and the opportunity for modernisation, this home is brimming with possibilities.

Key Features:
Spacious living areas, including a bright living room (3.29m x 5.29m) and a cosy lounge (1.96m x 2.98m), offering flexible living spaces.

Three well-sized bedrooms upstairs, including:
Bedroom 1 (3.09m x 3.31m)
Bedroom 2 (3.03m x 4.18m)
Bedroom 3 (2.15m x 2.97m)
The kitchen (3.29m x 3.00m) has ample room for a modern redesign, with space to potentially extend or open up the layout to create a contemporary kitchen-diner.
Family bathroom (2.15m x 1.68m) upstairs, with a WC located conveniently on the ground floor.
Large entrance hall, which could be utilised as a functional space for storage or a welcoming entry area.

Development Potential:
The property offers scope for modernisation and reconfiguration, making it a perfect project for developers. There is potential to open up the layout to create an open-plan living space or to extend into the garden, subject to planning permission.
The large garden at the rear is ideal for outdoor family living and could be transformed into a fantastic garden or even accommodate an extension.

Ideal for First-Time Buyers:
With some refurbishment, this property could be transformed into a lovely family home. Its layout and room proportions offer plenty of living space, and the scope for modern updates means you can put your personal stamp on it.
The potential to increase property value after modernisation makes it a fantastic opportunity for first-time buyers looking to invest in a home that they can improve over time.
Situated on a quiet residential road in a family-friendly neighbourhood, 20 Thorndike Road offers easy access to local amenities, schools, and transport links to Southampton city centre. This property comes with no chain, making for a straightforward and swift purchase.

Don't miss out on this excellent investment opportunity! Contact us to arrange a viewing today.

Agent Details

Kings Estates, Southampton

0238 202 7993

Next Steps?

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