3 Bed Flat, Single Let, Newport, PO30 1NR, £115,000

Carisbrooke High Street, Newport, Isle of Wight, PO30 1NR - 2 views - 3 months ago

Leasehold
BTL
ROI: 17%
~93 m²
+9 photos

ValuationUndervalued

Sold Prices£168K - £285K
Sold Prices/m²£2.3K/m² - £3.5K/m²

 

 

Square Metres

~93 m²
Price/m²£1.2K/m²

Value Estimate

£139,150
BMV21%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£28,750

Stamp Duty & Legal Fees

£4,650

Total Cash In

£33,400

 

 

Cash Out

 

Rent Range

£900 - £1,700

Rent Estimate

£1,075

Running Costs/mo

£594

Cashflow/mo

£481

Cashflow/yr

£5,768

ROI

17%

Gross Yield

11%

Local Sold Prices

3 sold prices from £168K to £285K, average is £252.5K. £2.3K/m² to £3.5K/m², average is £3.1K/m².

PriceDateDistanceAddressBeds 
£252.5K02/210.25 mi19, Fieldfare Road, Carisbrooke, Newport, Isle Of Wight PO30 5YD3
£285K06/210.25 mi25, Fieldfare Road, Newport, Isle Of Wight PO30 5YD3
£168K03/210.68 mi41, Snowberry Road, Newport, Isle Of Wight PO30 5EZ3

Local Rents

11 rents from £900/mo to £1.7K/mo, average is £1.3K/mo.

RentDateDistanceAddressBeds 
£1,45006/240.22 miClatterford Road, Newport3
£1,45006/240.35 miGoldcrest Close, Newport3
£1,15006/240.4 miLinnet Close, Newport3
£1,57506/240.6 miSylvan Drive, Newport3
£1,15006/240.61 miElm Grove, Newport3
£1,70006/240.75 miWatergate Road, Newport3
£1,20012/240.76 miDrake Road, Newport3
£1,27503/250.78 mi-3
£90006/240.87 miPyle Street Newport PO303
£1,35006/241.06 mi-3
£1,05006/241.23 miFurrlongs Newport PO303

Local Area Statistics

Population in PO30

29,065

Population in Newport

229,937

Town centre distance

121.69 miles away

Nearest school

0.10 miles away

Nearest train station

7.03 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+25%

Sales demand

Balanced market

Capital growth (5yrs)

+21%

Property History

Listed for £115,000

February 5, 2025

Floor Plans

Description

  • ** CHAIN FREE ** +
  • ** CHAIN FREE ** +
  • Spacious 3 Bedroom Apartment Split Over 2 Floors +
  • Main Bedroom with En-Suite Shower Room +
  • Excellent Buy-to-Let Property with Potential Yield Over 7.5% +
  • Close Proximity to Newport Town & Main Bus Routes +
  • Large Kitchen/Living Room +
  • Gas Central Heating +

Offered to the market with no onward chain is this spacious apartment in the heart of Carisbrooke with accommodation spread over 2 floors.

This property will largely appeal to investors such its impressive yield of over 7.5% and its close proximity to Newport town centre, local primary & secondary schools as well as impressive transport links in & out of Newport.

Internally the accommodation is spacious throughout with the apartment boasting a large kitchen/diner, family bathroom, en-suite main bedroom and 2 further bedrooms, ideal for a family or sharers.

We highly recommend viewing for any investors looking for a ready-made return!

EPC - 62 (D)

This home is set in an ideal situation that is convenient for the local schools, churches and of course Newport, the 'capital', offering many supermarket, shops and facilities. The multi-screen cinema is on the edge of town with many eateries around offering a range of foods from simple to exotic. The town also has the Isle of Wight College, Medina and the Apollo Theatres and a good range of entertainment both during the day and evening.

Agent Details

Watson Bull & Porter, Newport

01983 212538

Next Steps?

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