2 Bed Bungalow, Refurb/BRRR, Salisbury, SP2 8DA, £550,000

Old Blandford Road, Salisbury, SP2 8DA - 2 months ago

Refurb/BRRR
~68 m²

ValuationOvervalued

Sold Prices£150K - £392.5K
Sold Prices/m²£2.6K/m² - £5.9K/m²

 

 

Square Metres

~68.11 m²
Price/m²£8.1K/m²

Value Estimate

£240,737

 

 

End Value (After Refurb)

£450,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£137,500

Stamp Duty & Legal Fees

£43,700

Refurb Costs

£27,830

Bridging Loan Interest

£14,438

Total Cash In

£225,218

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£450,000

Mortgage (After Refinance)

£337,500

Mortgage LTV

75%

Cash Left In

£225,218

Equity

£112,500

Rent Range

£800 - £1,850

Rent Estimate

£1,218

Running Costs/mo

£1,670

Cashflow/mo

£-452

Cashflow/yr

£-5,422

Gross Yield

3%

Local Sold Prices

51 sold prices from £150K to £392.5K, average is £240K. £2.6K/m² to £5.9K/m², average is £3.8K/m².

PriceDateDistanceAddressBeds 
£239.9K02/210.37 mi25, Wilman Way, Salisbury, Wiltshire SP2 8QS2
£220K12/220.45 mi31, St Andrews Road, Salisbury, Wiltshire SP2 9NT2
£243K04/210.5 mi2, Bridgewater Close, Salisbury, Wiltshire SP2 8JS2
£220K04/210.53 mi42, Swallowmead, Salisbury, Wiltshire SP2 8JD2
£202.5K10/210.53 mi161, Harnham Road, Salisbury, Wiltshire SP2 8JY2
£210K06/230.53 mi151, Harnham Road, Salisbury, Wiltshire SP2 8JY2
£186.5K05/210.59 mi32, Martins Close, Salisbury, Wiltshire SP2 8JF2
£390K03/230.64 mi3, Tylers Close, West Harnham, Salisbury, Wiltshire SP2 8PQ2
£176.3K02/210.68 mi14, Bouchers Way, Salisbury, Wiltshire SP2 8RW2
£260K05/230.68 mi37, Bouchers Way, Harnham, Salisbury, Wiltshire SP2 8RW2
£228.3K11/210.68 mi33, Bouchers Way, Salisbury, Wiltshire SP2 8RW2
£285K01/230.78 mi11, Senior Drive, Salisbury, Wiltshire SP2 8QB2
£229.9K01/210.78 mi37, Harnham Road, Salisbury, Wiltshire SP2 8JG2
£260K04/230.91 mi35, Ancient Way, Salisbury, Wiltshire SP2 8TE2
£254K03/230.91 mi37, Ancient Way, Salisbury, Wiltshire SP2 8TE2
£270K08/230.91 mi29, Ancient Way, Salisbury, Wiltshire SP2 8TE2
£266K07/231.02 mi6, Rowbarrow Lane, Salisbury, Wiltshire SP2 8BY2
£202.5K05/211.08 miOrchard Cottage, Friary Lane, Salisbury, Wiltshire SP1 2HA2
£227.5K03/211.09 mi30, Friary Lane, Salisbury, Wiltshire SP1 2HA2
£271K04/231.14 mi7, South Street, Salisbury, Wiltshire SP2 7SE2
£265K08/211.16 mi15, South Street, Salisbury, Wiltshire SP2 7SE2
£256K11/211.16 mi12, St Ann Street, Salisbury, Wiltshire SP1 2DN2
£325K01/231.18 mi14, Water Lane, Salisbury, Wiltshire SP2 7TE2
£245K06/211.18 mi14, Water Lane, Salisbury, Wiltshire SP2 7TE2
£227.5K01/211.18 mi14, Dews Road, Salisbury, Wiltshire SP2 7SN2
£220K06/211.2 mi3, Greens Court, Salisbury, Wiltshire SP1 2SX2
£150K06/231.21 mi46, St Ann Place, Salisbury, Wiltshire SP1 2SU2
£256K12/221.25 mi8, Windsor Road, Salisbury, Wiltshire SP2 7DX2
£222K07/231.26 mi131, Love Lane, Salisbury, Wiltshire SP1 2BG2
£222K07/231.26 mi131, Love Lane, Salisbury, Wiltshire SP1 2BG2
£392.5K02/211.28 mi76, St Ann Street, Salisbury, Wiltshire SP1 2DX2
£232K02/211.3 mi14, Ashfield Road, Salisbury, Wiltshire SP2 7EW2
£225K06/211.33 mi40, Gorringe Road, Salisbury, Wiltshire SP2 7JA2
£240K03/231.33 mi32, Nursery Road, Salisbury, Wiltshire SP2 7HX2
£250K09/211.34 mi6, St Pauls Road, Salisbury, Wiltshire SP2 7AG2
£194K02/211.36 mi3, Cecil Terrace, Salisbury, Wiltshire SP2 9ND2
£250K12/201.36 mi30, St Pauls Road, Salisbury, Wiltshire SP2 7BH2
£279.9K01/211.37 mi6, Marina Road, Salisbury, Wiltshire SP1 2JN2
£240K03/211.37 mi11a, Gorringe Road, Salisbury, Wiltshire SP2 7HZ2
£275K03/211.37 mi15, Gorringe Road, Salisbury, Wiltshire SP2 7HZ2
£190K04/211.37 mi27, Pennyfarthing Street, Salisbury, Wiltshire SP1 1HJ2
£357.5K03/231.38 mi50, Lower Road, Salisbury, Wiltshire SP2 9NQ2
£295K08/231.38 mi29, Rampart Road, Salisbury, Wiltshire SP1 2LU2
£325K01/211.38 mi5, Tollgate Road, Salisbury, Wiltshire SP1 2JA2
£215K04/231.38 mi4, Charles Street, Salisbury, Wiltshire SP2 7AW2
£220K05/211.38 mi9, Orchard Road, Salisbury, Wiltshire SP2 7JE2
£220K05/211.4 mi48, Devizes Road, Salisbury, Wiltshire SP2 7AD2
£240K05/231.4 mi52, York Road, Salisbury, Wiltshire SP2 7AT2
£222.5K01/211.41 mi4, James Street, Salisbury, Wiltshire SP2 7AL2
£270K02/231.42 mi25, Sidney Street, Salisbury, Wiltshire SP2 7AJ2
£189.9K09/211.42 mi2, Gas Lane, Salisbury, Wiltshire SP2 7AN2

Local Rents

11 rents from £800/mo to £1.9K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£1,85002/240.6 mi-2
£95002/240.78 mi-2
£1,30005/240.82 mi-2
£1,10012/240.89 mi-2
£1,00009/241.11 miSalisbury2
£1,10009/241.13 miChurchfields Road, SALISBURY2
£1,10009/241.16 miChurchfields Road, Salisbury2
£1,40009/241.17 miNew Street, Salisbury2
£80003/251.19 mi-2
£1,20009/241.22 miFisherton Street, Salisbury 2
£1,60009/241.23 mi-2

Local Area Statistics

Population in SP2

28,823

Population in Salisbury

93,605

Town centre distance

1.07 miles away

Nearest school

0.40 miles away

Nearest train station

1.18 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+11%

Sales demand

Seller's market

Capital growth (5yrs)

+18%

Property History

Listed for £550,000

February 24, 2025

Floor Plans

Description

An individual built bungalow sitting within a plot approaching half an acre requiring some modernisation throughout. New Bungalow is a well designed and proportioned property which currently offers two double bedrooms but could be reconfigured and/or extended (subject to planning consent). Accommodation comprises generous entrance hall, 6m sitting room, 4.2m kitchen, utility room, two generous double bedrooms and bathroom. The plot is private, although somewhat overgrown, but enjoys lovely views to the South West. New Bungalow has a large driveway providing parking for numerous vehicles as well as a substantial garage. The location has a rural feel whilst being within easy reach of amenities and Salisbury city. New bungalow is a fantastic opportunity with huge potential, with a viewing essential to appreciate this fully.

Directions - From the Harnham Road turn onto the Old Blandford Road. Follow the road up the hill passing Harnwood Road and Shaston Drove, New Bungalow can be found on your right just after the turning for Lywood Close.

Storm Porch - Front door to:

Entrance Hall - 4m x 2.8m (13'1" x 9'2" ) - Full height cloak and airing cupboard. Door to:

Sitting Room - 6m x 3.6m (19'8" x 11'9" ) - Doors overlooking the rear garden and views beyond, window to side. Open fireplace.

Kitchen - 4.2m x 3.6m (13'9" x 11'9" ) - Matching wall and base units with worksurface over. Inset sink unit, spaces for appliances and Aga. Space for breakfast table and window to rear garden.

Utility Room - 3.6m x 1.8m (11'9" x 5'10" ) - Window to rear and door to side lobby.

Side Lobby - Two substantial store cupboards (1.4m x 1m), door to front and rear. Cloakroom with low level WC.

Bedroom One - 4.8m x 3.9m (15'8" x 12'9" ) - Window to front aspect.

Bedroom Two - 4.8m x 3.6m (15'8" x 11'9" ) - Window to side aspect, door to sitting room and bathroom.

Bathroom - Suite comprising panelled bath with shower over and wet wall splashbacks, low level WC, bidet and basin. Window to front aspect.

Outside - The bungalow is accessed from the Old Blandford Road by a generous driveway which extends to the front of the property providing parking for a good number of vehicles and access to the garage. A further parking/turning area exists to the side of New Bungalow providing parking for a further 2/3 vehicles. New Bungalow sits in its mature plot, areas of which are overgrown but hold huge potential to landscape and make the most of the views to the South West. Extensive levels of trees, bushes and hedgerows. Paved patio to the rear of the sitting room and kitchen with lawn beyond. We believe the plot extends to around 0.4 acre.

Garage (20ft x 18ft)

Agent Details

Venditum, Netherhampton

01722 449933

Next Steps?

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