3 Bed Semi-Detached House, Refurb/BRRR, Southend-on-Sea, SS2 5NG, £250,000

Cromwell Road, Southend-on-Sea, Essex, SS2 5NG - 12 views - 3 months ago

Auction
Refurb/BRRR
ROI: 3%
~93 m²
+12 photos

ValuationUndervalued

Sold Prices£233K - £495K
Sold Prices/m²£2.4K/m² - £5K/m²

 

 

Square Metres

~93 m²
Price/m²£2.7K/m²

Value Estimate

£270,000

 

 

End Value (After Refurb)

£332,837

Uplift in Value

+23%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£62,500

Stamp Duty & Legal Fees

£10,300

Refurb Costs

£44,786

Bridging Loan Interest

£6,563

Total Cash In

£125,898

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£332,837

Mortgage (After Refinance)

£249,628

Mortgage LTV

75%

Cash Released

£62,128

Cash Left In

£63,770

Equity

£83,209

Rent Range

£1,500 - £2,000

Rent Estimate

£1,717

Running Costs/mo

£1,404

Cashflow/mo

£313

Cashflow/yr

£3,762

ROI

3%

Gross Yield

8%

Local Sold Prices

53 sold prices from £233K to £495K, average is £340K. £2.4K/m² to £5K/m², average is £3.9K/m².

PriceDateDistanceAddressBeds 
£315K01/210 mi63, Cromwell Road, Southend-on-sea SS2 5NG3
£385K12/220.02 mi66, Cromwell Road, Southend-on-sea SS2 5NQ3
£357.5K02/230.06 mi46, Eastern Avenue, Southend-on-sea SS2 5NF3
£326K09/230.06 mi54, Eastern Avenue, Southend-on-sea SS2 5NF3
£315K02/230.06 mi7, Cromwell Road, Southend-on-sea SS2 5NG3
£315K07/210.11 mi96, Eastern Avenue, Southend-on-sea SS2 5NH3
£310K09/210.11 mi90, Eastern Avenue, Southend-on-sea SS2 5NH3
£278K01/210.13 mi109, Royston Avenue, Southend-on-sea SS2 5LB3
£380K10/230.13 mi67, Royston Avenue, Southend-on-sea SS2 5LB3
£395K02/240.15 mi275, Bournemouth Park Road, Southend-on-sea SS2 5LE3
£285K07/210.16 mi61, Royston Avenue, Southend-on-sea SS2 5JY3
£305K04/240.16 mi63, Royston Avenue, Southend-on-sea SS2 5JY3
£375K09/230.16 mi308, Bournemouth Park Road, Southend-on-sea SS2 5LY3
£345K04/230.17 mi62, Royston Avenue, Southend-on-sea SS2 5JZ3
£390K02/240.17 mi48, Royston Avenue, Southend-on-sea SS2 5JZ3
£400K12/220.17 mi17, Weybourne Gardens, Southend-on-sea SS2 4AU3
£380K01/210.19 mi17, Stuart Road, Southend-on-sea SS2 5JS3
£270K06/230.24 mi6, Weybourne Close, Southend-on-sea SS2 4AX3
£285K07/230.24 mi19, Weybourne Close, Southend-on-sea SS2 4AX3
£400K03/240.25 mi134, Royston Avenue, Southend-on-sea SS2 4BW3
£400K03/240.25 mi134, Royston Avenue, Southend-on-sea SS2 4BW3
£475K10/220.26 mi278, Bournemouth Park Road, Southend-on-sea SS2 5LX3
£330K08/230.26 mi298, Bournemouth Park Road, Southend-on-sea SS2 5LX3
£495K10/230.27 mi646, Sutton Road, Southend-on-sea SS2 5PX3
£355K08/230.28 mi9, Ennismore Gardens, Southend-on-sea SS2 5RA3
£355K08/230.28 mi9, Ennismore Gardens, Southend-on-sea SS2 5RA3
£288.7K11/200.31 mi169, St Lukes Road, Southend-on-sea SS2 4AQ3
£300K03/210.31 mi135, St Lukes Road, Southend-on-sea SS2 4AQ3
£264K05/210.31 mi151, St Lukes Road, Southend-on-sea SS2 4AQ3
£317K04/210.31 mi115, East Street, Southend-on-sea SS2 5EB3
£274K06/230.32 mi70, Walsingham Road, Southend-on-sea SS2 4AJ3
£348K02/210.32 mi48, Ennismore Gardens, Southend-on-sea SS2 5RB3
£233K07/230.32 mi50, Ennismore Gardens, Southend-on-sea SS2 5RB3
£400K06/230.32 mi100, Ennismore Gardens, Southend-on-sea SS2 5RB3
£370K10/230.32 mi12, Ennismore Gardens, Southend-on-sea SS2 5RB3
£350K12/210.32 mi22, Oakhurst Road, Southend-on-sea SS2 5DT3
£275K11/200.33 mi14, Tennyson Avenue, Southend-on-sea SS2 5HD3
£325K04/210.35 mi65, Walsingham Road, Southend-on-sea SS2 4AL3
£320K07/210.35 mi83, Walsingham Road, Southend-on-sea SS2 4AL3
£350K03/240.35 mi83, Walsingham Road, Southend-on-sea SS2 4AL3
£350K03/240.35 mi83, Walsingham Road, Southend-on-sea SS2 4AL3
£256K11/200.35 mi118, Norwich Avenue, Southend-on-sea SS2 4DH3
£350K03/210.35 mi46, Oakhurst Road, Southend-on-sea SS2 5DT3
£340K11/210.36 mi218, Bournemouth Park Road, Southend-on-sea SS2 5LU3
£306K11/200.36 mi10, Glenhurst Road, Southend-on-sea SS2 5DS3
£345K05/210.36 mi30, Glenhurst Road, Southend-on-sea SS2 5DS3
£375K07/230.38 mi13, Glenhurst Road, Southend-on-sea SS2 5DR3
£272.5K02/230.38 mi33, Shelley Square, Southend-on-sea SS2 5JP3
£267K08/210.38 mi14, Browning Avenue, Southend-on-sea SS2 5HF3
£287K12/200.4 mi210, Bournemouth Park Road, Southend-on-sea SS2 5LU3
£340K10/210.42 mi194, Eastern Avenue, Southend-on-sea SS2 4BA3
£362.5K07/230.42 mi194, Eastern Avenue, Southend-on-sea SS2 4BA3
£333K10/210.42 mi4, Walsingham Road, Southend-on-sea SS2 4AN3

Local Rents

16 rents from £1.5K/mo to £2K/mo, average is £1.7K/mo.

RentDateDistanceAddressBeds 
£1,90011/230.02 mi-3
£1,57509/240.07 miWentworth Road, Southend-On-Sea, Essex, SS23
£1,70011/230.14 mi-3
£1,60009/240.33 miTennyson Avenue, Southend on Sea, SS23
£1,85003/250.37 mi-3
£1,75001/250.4 mi-3
£1,75001/250.4 mi-3
£2,00012/240.42 mi-3
£1,65002/240.54 mi-3
£1,70004/250.54 mi-3
£1,50011/240.57 mi-3
£1,72501/250.57 mi-3
£1,75009/240.58 miWestbury Road, Southend-On-Sea, Essex, SS23
£1,60003/240.59 miTunbridge Road, Southend-on-Sea, Essex, SS23
£1,65010/240.61 mi-3
£1,65010/240.61 mi-3

Local Area Statistics

Population in SS2

36,418

Population in Southend-on-Sea

106,129

Town centre distance

0.26 miles away

Nearest school

0.20 miles away

Nearest train station

0.36 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+8%

Sales demand

Balanced market

Capital growth (5yrs)

+24%

Property History

Price changed to £250,000

February 24, 2025

Listed for £270,000

February 4, 2025

Floor Plans

Description

  • A Three Bedroom Semi Detached House +
  • Approximate 80ft Rear Garden +
  • Driveway Providing Off Street Parking +
  • Requires Refurbishment And Modernisation +
  • Offered To The Market With No Onward Chain +
  • Close Proximity To Local Shops & Prittlewell Station +
  • Close To Jones Memorial Ground & Victory Sports Ground +
  • Within Easy Reach Of The City Centre And Sea Front +
  • Good Local Road Transport Links To The A13 & A127 +

GUIDE PRICE £270,000

A Three Bedroom semi Detached House With An Approximate 80ft Garden And Off Street Parking Requiring Modernisation And Offered Chain Free Which Is Situated Close To Local Parks, Shops, Prittlewell Station And The City Centre With Good Local Road Transport Links To The A13 And A127.

AUCTIONEER COMMENTS This property is for sale by the Modern Method of Auction. Should you view, offer or bid on the property, your information will be shared with the Auctioneer, iamsold Limited. This method of auction requires both parties to complete the transaction within 56 days of the draft contract for sale being received by the buyers solicitor. This additional time allows buyers to proceed with mortgage finance (subject to lending criteria, affordability and survey). The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee. This being 4.5% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. The Reservation Fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability. Buyers will be required to go through an identification verification process with iamsold and provide proof of how the purchase would be funded. This property has a Buyer Information Pack which is a collection of documents in relation to the property. The documents may not tell you everything you need to know about the property, so you are required to complete your own due diligence before bidding. A sample copy of the Reservation Agreement and terms and conditions are also contained within this pack. The buyer will also make payment of £300 including VAT towards the preparation cost of the pack, where it has been provided by iamsold. The property is subject to an undisclosed Reserve Price with both the Reserve Price and Starting Bid being subject to change. Referral Arrangements The Partner Agent and Auctioneer may recommend the services of third parties to you. Whilst these services are recommended as it is believed they will be of benefit; you are under no obligation to use any of these services and you should always consider your options before services are accepted. Where services are accepted the Auctioneer or Partner Agent may receive payment for the recommendation and you will be informed of any referral arrangement and payment prior to any services being taken by you

Situated within close proximity to local shops, schools, The Victory Sports Ground, Priory Park and Prittlewell mainline railway station to London. And within easy reach of he city centre, seafront and amenities with good local road transport links to the A127 and the A13.

Agent Details

Bairstow Eves, Southend-on-Sea

01702 967948

Next Steps?

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