2 Bed Bungalow, Refurb/BRRR, Taunton, TA4 1AZ, £265,000

Oake, TA4 1AZ - 2 months ago

Cash
Refurb/BRRR
Planning
ROI: 1%
~92 m²
+14 photos

ValuationUndervalued

Sold Prices£135K - £270K
Sold Prices/m²£2.1K/m² - £4.2K/m²

 

 

Square Metres

~91.51 m²
Price/m²£2.9K/m²

Value Estimate

£271,670
BMV3%

 

 

End Value (After Refurb)

£266,575

Uplift in Value

+1%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£66,250

Stamp Duty & Legal Fees

£15,200

Refurb Costs

£37,391

Bridging Loan Interest

£6,956

Total Cash In

£127,547

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£266,575

Mortgage (After Refinance)

£199,931

Mortgage LTV

75%

Cash Released

£1,181

Cash Left In

£126,366

Equity

£66,644

Rent Range

£875 - £1,800

Rent Estimate

£1,188

Running Costs/mo

£1,091

Cashflow/mo

£97

Cashflow/yr

£1,168

ROI

1%

Gross Yield

5%

Local Sold Prices

21 sold prices from £135K to £270K, average is £192.5K. £2.1K/m² to £4.2K/m², average is £3.1K/m².

PriceDateDistanceAddressBeds 
£165K05/210.06 mi1, Oake Acres, Oake, Taunton, Somerset TA4 1AU2
£135K07/230.48 mi5, New Buildings, Hillcommon, Taunton, Somerset TA4 1DX2
£207.1K12/220.48 mi1, New Buildings, Hillcommon, Taunton, Somerset TA4 1DX2
£192.5K11/221.33 mi32, Venn Close, Cotford St Luke, Taunton, Somerset TA4 1JQ2
£190K05/231.4 mi19, Grenville View, Cotford St Luke, Taunton, Somerset TA4 1JH2
£217.5K06/211.42 mi64, Burge Crescent, Cotford St Luke, Taunton, Somerset TA4 1PD2
£160K11/201.42 mi96, Burge Crescent, Cotford St Luke, Taunton, Somerset TA4 1PD2
£205K04/231.42 mi98, Burge Crescent, Cotford St Luke, Taunton, Somerset TA4 1PD2
£219.9K07/231.42 mi31, Graham Way, Cotford St Luke, Taunton, Somerset TA4 1JG2
£160K11/201.43 mi96, Burge Crescent, Cotford St Luke, Taunton, Somerset TA4 1PD2
£218K02/231.43 mi35, Burge Crescent, Cotford St Luke, Taunton, Somerset TA4 1NU2
£202K12/221.49 mi5, Stutts End, Cotford St Luke, Taunton, Somerset TA4 1NX2
£185K09/211.51 mi26, Manning Road, Cotford St Luke, Taunton, Somerset TA4 1NY2
£185K09/211.51 mi26, Manning Road, Cotford St Luke, Taunton, Somerset TA4 1NY2
£195K01/211.79 miKirazli, Turnpike, Milverton, Taunton, Somerset TA4 1LF2
£192.5K03/231.8 miBird Cottage, New Buildings, Milverton, Taunton, Somerset TA4 1LE2
£167K10/231.8 mi2, New Buildings, Milverton, Taunton, Somerset TA4 1LE2
£147.5K12/201.9 miTilsey, Fore Street, Milverton, Taunton, Somerset TA4 1JX2
£210K02/231.98 mi11, Creedwell Close, Milverton, Taunton, Somerset TA4 1LS2
£270K04/211.99 miThornwell Cottage, Fore Street, Milverton, Taunton, Somerset TA4 1JU2
£186K09/211.99 mi2, Fore Street, Milverton, Taunton, Somerset TA4 1JU2

Local Rents

18 rents from £875/mo to £1.8K/mo, average is £1.2K/mo.

RentDateDistanceAddressBeds 
£1,25009/240.51 miHeathfiled Court TA42
£98010/231.37 mi-2
£1,20009/241.41 miSt. Lukes Mews, TA43
£1,37509/241.42 miBurge Crescent, Cotford St. Luke, TAUNTON3
£1,20009/241.42 miCotford St. Luke3
£95009/241.42 miGraham Way, Cotford St. Luke, TAUNTON2
£1,19509/241.42 mi-3
£92509/241.44 miMerrifields, Cotford St. Luke, 2
£92509/241.49 miCotford St Luke 2
£1,65007/231.54 mi-4
£87509/241.61 miPark View, Cotford St Luke. TA42
£1,12009/241.82 miSilver Street, Milverton2
£1,80009/242.07 miCotford St Luke, Taunton2
£1,35009/242.11 miBradford On Tone2
£99509/242.11 miHele Manor Barns, Hele, Taunton, TA42
£1,05009/242.13 miHele Manor Barns, Taunton, TA43
£1,30009/242.14 miHele Manor Barns, Hele, Taunton, TA43
£1,25009/242.4 miMill Lane, Bishops Lydeard3

Local Area Statistics

Population in TA4

19,149

Population in Taunton

85,088

Town centre distance

4.83 miles away

Nearest school

3.40 miles away

Nearest train station

4.57 miles away

 

 

Rental growth (12m)

-1%

Sales demand

Buyer's market

Capital growth (5yrs)

+13%

Property History

Listed for £265,000

February 10, 2025

Floor Plans

Description

  • Two Bedrooms +
  • Detached Bungalow +
  • Popular Village Location +
  • Backing On To Fields +
  • Modernisation Required +
  • Enclosed Rear Garden +
  • Off-Road Parking +
  • Single Garage +

The property benefits from full planning permission for the erection of a four bedroom detached house, offering incredible potential for developers or those looking to build their dream home.

The existing bungalow features a single garage, off-road parking, a workshop/home office, and a good size garden that backs onto open fields, providing stunning countryside views.

The accommodation comprises in brief; front door leading into a large porch area which previously has been used as a home office space. A hallway leads into the living room which has doors providing access into the garden and kitchen. The kitchen offers a selection of wall mounted and base storage units, stainless steel sink, space and plumbing for a washing machine, space and plumbing for a dishwasher and space for an under-counter fridge. There are two bedrooms, both with uPVC double glazed windows providing aspect to the rear and both with electric heaters. The shower room completes the accommodation and comprises, shower cubicle, low level wc and wash hand basin. Externally, the rear garden is laid predominantly to lawn and backs on to open countryside. Additionally, there is a substantial timber workshop/home office with electric, lighting and insulation. There is a side access which leads to a single garage and a driveway providing off-road parking for three cars.

GENERAL REMARKS AND STIPULATIONS:
Tenure: The property is offered for sale freehold by private treaty with vacant possession on completion.
Services: Mains water with meter, mains electricity, mains drainage, electric heating.
Local Authority: Somerset Council, County Hall, The Crescent, Taunton, Somerset, TA1 4DY
Property Location: w3w.co/joys.broadcast.wonderful
Council Tax Band: D
EPC: F
Broadband Availability: Ultrafast with up to 35 Mbps download speed and 6 Mbps upload speed.
Mobile Phone Coverage: Indoor-voice & data limited with EE, Three & O2. Outdoor-voice & data likely with EE, Three, O2 & Vodafone.
Flood Risk: Rivers & Sea-very low. Surface water-very low.

IMPORTANT NOTICE Wilkie May & Tuckwood for themselves and for the vendors of the property, whose agents they are, give notice that: 1. the particulars are intended to give a fair and substantially correct overall description for the guidance of intending purchaser and do not constitute part of an offer or contract. Prospective purchasers and lessees ought to seek their own professional advice. 2. All descriptions, dimensions, areas, reference to condition and necessary permissions for use and occupation and other details are given in good faith, and are believed to be correct, but any intending purchasers should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise as to the correctness of each of them. 3. No person in the employment of Wilkie May & Tuckwood has any authority to make or give any representations or warranty whatever in relation to this property on behalf of Wilkie May & Tuckwood, nor enter into any contract on behalf of the vendor. 4. No responsibility can be accepted for any expenses incurred by intending purchasers in inspecting properties which have been sold, let or withdrawn. Photographs taken and details prepared February 2025. MEASUREMENTS AND OTHER INFORMATION All measurements are approximate and have been taken by Nichecom. While we endeavour to make our sales particular accurate and reliable, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the information with you.
Code of Practice for Residential Estate Agents: Effective from 1 August 2011:
'8. Financial Evaluation 8a At the time that an offer has been made and is being considered by the seller, you must take reasonable steps to find out from the prospective buyer the source and availability of his funds for buying the property and pass this information to the seller. Such information will include whether the prospective buyer needs to sell a property, requires a mortgage, claims to be a cash buyer or any combination of these. Such relevant information that is available should be included in the Memorandum of Sale having regard to the provisions of the Data Protection Act.8b These reasonable steps must continue after acceptance of the offer until exchange of contracts (in Scotland, conclusion of missives) and must include regular monitoring of the prospective buyer's progress in achieving the funds required, and reporting such progress to the seller.
The agent has not tested any apparatus, equipment, fixtures and fittings or services and so cannot verify that they are in working order or fit for their purpose. A Buyer is advised to obtain verification from their solicitor or surveyor. References to the Tenure of the Property are based on information supplied by the Seller. The agent has not had sight of the title documents. A Buyer is advised to obtain verification from their Solicitor.

Agent Details

Wilkie May & Tuckwood, Taunton

01823 212604

Next Steps?

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