2 Bed Bungalow, Refurb/BRRR, Derby, DE22 2BE, £190,000

Ferrers Way, Allestree , Derby, DE22 2BE - 3 views - 2 months ago

Sold STC

Refurb/BRRR

ROI: 2%

~68 m²

+5 photos

ValuationFair Value

Sold Prices	£95K - £347.5K
Sold Prices/m²	£1K/m² - £26.3K/m²

Square Metres	~68.11 m²
Price/m²	£2.8K/m²
Value Estimate	£190,000£190,000

End Value (After Refurb)	£208,935£208,935
Uplift in Value	+10%+10%

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£47,500£47,500
Stamp Duty & Legal Fees	£6,900£6,900
Refurb Costs	£27,537£27,537
Bridging Loan Interest	£4,988£4,988
Total Cash In	£88,675£88,675

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£208,935£208,935
Mortgage (After Refinance)	£156,701£156,701
Mortgage LTV	75%75%
Cash Released	£14,201£14,201
Cash Left In	£74,474£74,474
Equity	£52,234£52,234
Rent Range	£800 - £1,080£800 - £1,080
Rent Estimate	£1,068
Running Costs/mo	£887£887
Cashflow/mo	£181£181
Cashflow/yr	£2,178£2,178
ROI	2%2%
Gross Yield	7%7%

Local Sold Prices

50 sold prices from £95K to £347.5K, average is £209K. £1K/m² to £26.3K/m², average is £3.3K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£245K	11/20	0.03 mi	126, Ferrers Way, Derby, City Of Derby DE22 2BE	£3,657	67	2	Detached House
£305K	07/23	0.05 mi	23, Causeway, Darley Abbey, Derby, City Of Derby DE22 2BW	-	-	2	Detached House
£180K	03/21	0.08 mi	32, Farnway, Darley Abbey, Derby, City Of Derby DE22 2BQ	£2,813	64	2	Detached House
£270K	10/21	0.15 mi	143, Birchover Way, Allestree, Derby, City Of Derby DE22 2DB	£4,219	64	2	Detached House
£280K	05/21	0.16 mi	41, Causeway, Darley Abbey, Derby, City Of Derby DE22 2BX	£4,375	64	2	Detached House
£347.5K	03/23	0.18 mi	7, Alstonfield Drive, Allestree, Derby, City Of Derby DE22 2XF	£5,187	67	2	Detached House
£265K	09/21	0.2 mi	6, Longford Close, Allestree, Derby, City Of Derby DE22 2RG	-	-	2	Detached House
£230K	10/21	0.21 mi	5, Melbourne Close, Allestree, Derby, City Of Derby DE22 2QS	£3,530	65	2	Detached House
£275K	05/23	0.22 mi	21, Tresillian Close, Darley Abbey, Derby, City Of Derby DE22 2AG	-	-	2	Detached House
£208K	02/21	0.22 mi	74, Birchover Way, Allestree, Derby, City Of Derby DE22 2QL	£2,849	73	2	Detached House
£167K	02/23	0.27 mi	6, Wessington Mews, Allestree, Derby, City Of Derby DE22 2XH	-	-	2	Semi-Detached House
£197.5K	09/21	0.28 mi	10, St Johns Close, Allestree, Derby, City Of Derby DE22 2PN	£4,293	46	2	Semi-Detached House
£240K	02/23	0.34 mi	12, Hulland View, Allestree, Derby, City Of Derby DE22 2RD	£4,286	56	2	Detached House
£249.3K	02/23	0.34 mi	16, Hulland View, Allestree, Derby, City Of Derby DE22 2RD	£4,334	58	2	Detached House
£190K	04/21	0.34 mi	5, Hulland View, Allestree, Derby, City Of Derby DE22 2RD	-	-	2	Detached House
£266K	06/23	0.34 mi	36, Birchover Way, Allestree, Derby, City Of Derby DE22 2QJ	-	-	2	Detached House
£215K	11/20	0.37 mi	18, Rannoch Close, Allestree, Derby, City Of Derby DE22 2SJ	£3,909	55	2	Detached House
£184K	12/20	0.37 mi	4, Rannoch Close, Allestree, Derby, City Of Derby DE22 2SJ	£26,286	7	2	Semi-Detached House
£176K	10/21	0.39 mi	20, Edale Close, Allestree, Derby, City Of Derby DE22 2RL	£3,034	58	2	Semi-Detached House
£200K	10/21	0.39 mi	8, Edale Close, Allestree, Derby, City Of Derby DE22 2RL	£3,774	53	2	Detached House
£238K	03/21	0.43 mi	19, Welwyn Avenue, Allestree, Derby, City Of Derby DE22 2JR	£3,967	60	2	Detached House
£174K	07/23	0.46 mi	2, Canons Walk, Darley Abbey, Derby, City Of Derby DE22 1FG	£3,346	52	2	Detached House
£260K	12/22	0.46 mi	6, Canons Walk, Darley Abbey, Derby, City Of Derby DE22 1FG	£4,643	56	2	Detached House
£195K	01/21	0.47 mi	8, Lavender Row, Darley Abbey, Derby, City Of Derby DE22 1DF	£2,796	70	2	Semi-Detached House
£225K	11/21	0.49 mi	21, Thirlmere Avenue, Allestree, Derby, City Of Derby DE22 2RX	£4,167	54	2	Semi-Detached House
£275K	04/21	0.49 mi	5, Thirlmere Avenue, Allestree, Derby, City Of Derby DE22 2RX	£4,310	64	2	Detached House
£243K	02/23	0.49 mi	21, Thirlmere Avenue, Allestree, Derby, City Of Derby DE22 2RX	£4,500	54	2	Semi-Detached House
£275K	03/21	0.53 mi	171, Portreath Drive, Allestree, Derby, City Of Derby DE22 2SB	£4,661	59	2	Semi-Detached House
£210K	07/23	0.55 mi	109, Darley Abbey Drive, Darley Abbey, Derby, City Of Derby DE22 1EF	-	-	2	Detached House
£260K	11/20	0.57 mi	39, Ypres Road, Allestree, Derby, City Of Derby DE22 2NA	£3,824	68	2	Detached House
£169.9K	09/21	0.6 mi	74, Broadway, Derby, City Of Derby DE22 1BQ	£2,537	67	2	Terraced House
£274.9K	06/21	0.62 mi	9, Lens Road, Allestree, Derby, City Of Derby DE22 2NB	-	-	2	Detached House
£170K	06/21	0.62 mi	45, Longford Street, Derby, City Of Derby DE22 1GJ	-	-	2	Semi-Detached House
£265.5K	01/21	0.63 mi	3, Broadfields Close, Derby, City Of Derby DE22 1BT	£3,052	87	2	Semi-Detached House
£187.7K	12/22	0.64 mi	84, Longford Street, Derby, City Of Derby DE22 1GH	£2,503	75	2	Terraced House
£172.5K	07/21	0.64 mi	78, Longford Street, Derby, City Of Derby DE22 1GH	£2,054	84	2	Terraced House
£205K	05/23	0.65 mi	52, Sherwin Street, Derby, City Of Derby DE22 1GN	£2,733	75	2	Terraced House
£95K	11/21	0.65 mi	54, Sherwin Street, Derby, City Of Derby DE22 1GN	£1,038	92	2	Terraced House
£175K	02/21	0.65 mi	68, Sherwin Street, Derby, City Of Derby DE22 1GN	£2,397	73	2	Terraced House
£173K	03/21	0.65 mi	88, Sherwin Street, Derby, City Of Derby DE22 1GN	£2,110	82	2	Terraced House
£170K	09/21	0.65 mi	21, Sherwin Street, Derby, City Of Derby DE22 1GP	£2,656	64	2	Terraced House
£176K	09/21	0.65 mi	42, Sherwin Street, Derby, City Of Derby DE22 1GN	£2,705	65	2	Terraced House
£215K	03/23	0.67 mi	18, Foxes Walk, Allestree, Derby, City Of Derby DE22 2FG	-	-	2	Semi-Detached House
£240K	12/21	0.67 mi	20, Ashbrook Close, Allestree, Derby, City Of Derby DE22 2NS	-	-	2	Detached House
£158K	04/21	0.67 mi	22, Cedar Street, Derby, City Of Derby DE22 1GD	£2,289	69	2	Semi-Detached House
£202K	03/23	0.67 mi	25, Cedar Street, Derby, City Of Derby DE22 1GD	£2,376	85	2	Terraced House
£159.9K	02/21	0.69 mi	10, Hill Square, Darley Abbey, Derby, City Of Derby DE22 1DW	£3,136	51	2	Terraced House
£156.7K	03/21	0.69 mi	82, Cedar Street, Derby, Derbyshire DE22 1GE	£2,750	57	2	Terraced House
£173.5K	05/23	0.69 mi	77, Cedar Street, Derby, City Of Derby DE22 1GE	£2,551	68	2	Terraced House
£244K	02/21	0.69 mi	18, West Row, Darley Abbey, Derby, City Of Derby DE22 1DN	£3,873	63	2	Semi-Detached House

Local Rents

10 rents from £800/mo to £1.1K/mo, average is £873/mo.

Rent	Date	Distance	Address	Beds	Type
£895	12/24	0.21 mi	Birchover Way, Allestree, Derby, Derbyshire	2	Flat
£825	12/24	0.27 mi	Highfields Park Drive, Darley Abbey, Derby	2	Flat
£850	04/25	0.29 mi	-	2	Flat
£950	12/24	0.35 mi	Findern Close, Allestree	2	Flat
£850	02/24	0.39 mi	-	2	Detached House
£985	03/25	0.39 mi	-	2	Detached House
£800	08/23	0.41 mi	-	2	Bungalow
£825	05/24	0.41 mi	-	2	Bungalow
£950	08/23	0.43 mi	-	2	Flat
£1,080	08/23	0.61 mi	-	2	Flat

Local Area Statistics

Population in DE22	46,00146,001
Population in Derby	308,324308,324
Town centre distance	2.14 miles away2.14 miles away
Nearest school	0.10 miles away0.10 miles away
Nearest train station	2.30 miles away2.30 miles away

Rental demand	Balanced marketBalanced market
Rental growth (12m)	+2%+2%
Sales demand	Seller's marketSeller's market
Capital growth (5yrs)	+15%+15%

Property History

Listed for £190,000

February 17, 2025

Floor Plans

Description

VIEWING EVENT FRIDAY 21st - CALL TO BOOK YOUR APPOINTMENT +
Detached Bungalow +
In Need of Complete Refurbishment +
Two Bedrooms +
Popular Location +
Drive & Garage +
close to Local Amenities +
No Chain/ Vacant Possession +
Council Tax Band C +

VIEWING EVENT FRIDAY 21st - CALL TO BOOK YOUR APPOINTMENT A personal inspection is highly recommended to fully appreciate this detached bungalow. The property benefits from UPVC double glazing and gas central heating, briefly comprises: Entrance Hall, Lounge, Kitchen, Two good size Bedrooms, and a Bathroom. Outside, the property is situated on a good sized plot with front garden, drive, garage and rear garden. Ferrers way is conveniently situated for access to local amenities including shopping at Park Farm Centre, local schools, the University, public transport routes including bus route into Derby recreational facilities including Markeaton Park, Darley Park and Allestree Park and useful road links via the A6 A52 A38 and A50 networks giving access to the M.1

Agent Details

Derbyshire Properties, Derby

01332 316715

Next Steps?

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

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ValuationFair Value

Investment OpportunityOpen in Analyser

Local Sold PricesDownload Show map

Local RentsDownload Show map

Links

Local Area Statistics

Property History

Floor Plans

Description

Agent Details

Next Steps?

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Investment Opportunity

Local Sold Prices

Local Rents