2 Bed Flat, Refurb/BRRR, Polegate, BN26 6AN, £135,000

20 Gilda Crescent, Polegate, East Sussex, BN26 6AN - 2 views - 3 months ago

Leasehold
Cash
Refurb/BRRR
ROI: 7%
~51 m²
+3 photos

ValuationFair Value

Sold Prices£149.9K - £295K
Sold Prices/m²£2.5K/m² - £3.8K/m²

 

 

Square Metres

~51.10 m²
Price/m²£2.6K/m²

Value Estimate

£137,700

 

 

End Value (After Refurb)

£182,488

Uplift in Value

+35%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£33,750

Stamp Duty & Legal Fees

£8,150

Refurb Costs

£24,176

Bridging Loan Interest

£3,544

Total Cash In

£71,370

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£182,488

Mortgage (After Refinance)

£136,866

Mortgage LTV

75%

Cash Released

£35,616

Cash Left In

£35,754

Equity

£45,622

Rent Range

£975 - £1,530

Rent Estimate

£1,250

Running Costs/mo

£840

Cashflow/mo

£410

Cashflow/yr

£4,917

ROI

7%

Gross Yield

11%

Local Sold Prices

26 sold prices from £149.9K to £295K, average is £184.9K. £2.5K/m² to £3.8K/m², average is £2.8K/m².

PriceDateDistanceAddressBeds 
£165K05/220.01 mi8a, Gilda Crescent, Polegate, East Sussex BN26 6AN2
£170.5K10/220.09 miFlat 2, Hawthorn Court, Black Path, Polegate, East Sussex BN26 5BB2
£183K02/230.09 miFlat 15, Hawthorn Court, Black Path, Polegate, East Sussex BN26 5BB2
£185K12/230.09 miFlat 5, Hawthorn Court, Black Path, Polegate, East Sussex BN26 5BB2
£157K04/220.13 miFlat 8, Chiltern Court, Albert Road, Polegate, East Sussex BN26 6BS2
£190K06/230.17 mi47, Brook Street, Polegate, East Sussex BN26 6BH2
£200K09/230.2 miFlat 6, Chiltern Court, Albert Road, Polegate, East Sussex BN26 6BS2
£155K02/230.34 miFlat 52, Guardian Court, Brookside Avenue, Polegate, East Sussex BN26 6DW2
£149.9K04/210.34 miFlat 50, Guardian Court, Brookside Avenue, Polegate, East Sussex BN26 6DW2
£159.3K11/220.37 miFlat 4, Guardian Court, Brookside Avenue, Polegate, East Sussex BN26 6DW2
£268K01/210.38 mi12, Spurway Park, Polegate, East Sussex BN26 5DQ2
£187K10/220.47 mi3, Lynholm Road, Polegate, East Sussex BN26 6JW2
£155K04/230.47 mi1a, Lynholm Road, Polegate, East Sussex BN26 6JW2
£184.9K12/200.59 mi34, The Millrace, Polegate, East Sussex BN26 5LP2
£184.9K12/200.59 mi34, The Millrace, Polegate, East Sussex BN26 5LP2
£184.9K12/200.59 mi34, The Millrace, Polegate, East Sussex BN26 5LP2
£295K07/210.6 mi7, Croft Close, Polegate, East Sussex BN26 5LE2
£190K05/210.72 mi8, Kensington Way, Polegate, East Sussex BN26 6FJ2
£190K04/210.72 mi88, Kensington Way, Polegate, East Sussex BN26 6FJ2
£183K06/210.72 mi32, Kensington Way, Polegate, East Sussex BN26 6FJ2
£188K09/210.72 mi30, Kensington Way, Polegate, East Sussex BN26 6FJ2
£200K04/220.72 mi104, Kensington Way, Polegate, East Sussex BN26 6FJ2
£235K02/230.93 mi21, Willingdon Court, Willingdon, Eastbourne, East Sussex BN20 9NH2
£178K07/230.93 mi22, Willingdon Court, Willingdon, Eastbourne, East Sussex BN20 9NH2
£175K11/200.93 mi18, Willingdon Court, Willingdon, Eastbourne, East Sussex BN20 9NH2
£182.5K07/230.93 mi14, Willingdon Court, Willingdon, Eastbourne, East Sussex BN20 9NH2

Local Rents

14 rents from £975/mo to £1.5K/mo, average is £1.2K/mo.

RentDateDistanceAddressBeds 
£1,30012/240.09 mi-2
£1,20009/240.16 mi-2
£1,39512/240.17 miWestfield Close, Polegate, East Sussex2
£1,10012/240.23 miPorters Way, Polegate2
£1,35003/250.23 mi-2
£1,20003/250.26 mi-2
£1,20012/240.27 miVictoria Road, Polegate2
£1,30003/250.27 mi-2
£1,25012/240.28 mi-2
£1,20009/240.3 mi-2
£1,30012/240.3 miEastern Avenue, Polegate2
£97501/250.34 mi-2
£1,53012/240.59 mi-2
£1,20012/240.61 miFarmlands Close, Polegate, East Sussex, BN262

Local Area Statistics

Population in BN26

11,451

Town centre distance

0.14 miles away

Nearest school

0.20 miles away

Nearest train station

0.05 miles away

 

 

Rental growth (12m)

+38%

Sales demand

Balanced market

Capital growth (5yrs)

+19%

Property History

Listed for £135,000

January 31, 2025

Floor Plans

Description

  • CASH BUYERS ONLY +
  • CHAIN FREE +
  • CONVENIENT POLEAGTE LOCATION +
  • FITTED KITCHEN +
  • 2 BEDROOMS +
  • LIVING/DINING ROOM +
  • DRIVEWAY PARKING +
  • DOUBLE GLAZED WINDOWS +
  • GAS FIRED CENTRAL HEATING +

An excellent opportunity has arisen to acquire this TWO BEDROOMED GROUND FLOOR APARTMENT in the popular Polegate area being within walking distance from the mainline railway station and shops. Although the property requires modernisation and refurbishment throughout, it is noted to benefit from it's own private entrance, driveway parking, fitted kitchen, 2 bedrooms, gas fired central heating, double glazed windows and private rear garden. The property is offered to the market chain free. EPC=C.

The Accommodation - Compromises:

Private front door opening to:

Hall - Cupboard housing consumer unit and electricity meters, radiator, storage cupboard.

Kitchen - 3.40m x 2.16m (11'02 x 7'01) - Single drainer sink, electric eye level oven, 4 ring gas hob, range of wall and base units, washing machine, fridge freezer, double glazed window, door onto rear garden, radiator.

Living/Dining Room - 5.08m x 3.25m (16'08 x 10'08) - Double glazed bay window to front aspect, radiator.

Bedroom 1 - 3.99m x 3.20m (13'01 x 10'06) - Double glazed window to rear, radiator, cupboard housing Worcester boiler.

Bedroom 2 - 3.02m x 2.13m (9'11 x 7) - Double glazed window to front, radiator.

Shower Room -

Driveway - Blocked paved driveway for one car.

Garden - Level lawned private garden with seating area and shed

N.B - We have been informed by the vendor that there is approximately 44 years remaining on the lease.

Ground rent £35 per annum
Maintenance £400 per annum for buildings insurance. Other liabilities in the lease attach to the tenant.

(All details concerning the terms of the lease and outgoings are subject to verification).

Council Tax Band: - Council Tax Band - 'B' Wealden District Council.

Broadband And Mobile Phone Checker: - For broadband and mobile phone information please see the following website:

For Clarification: - We wish to inform prospective purchasers that we have prepared these sales particulars as a general guide. We have not carried out a detailed survey nor tested the services, appliances & specific fittings. Room sizes cannot be relied upon for carpets and furnishings.

Viewing Arrangements: - All appointments are to be made through TAYLOR ENGLEY.

Agent Details

Taylor Engley, Eastbourne

01323 921874

Next Steps?

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