2 Bed Bungalow, Refurb/BRRR, South Croydon, CR2 8QA, £550,000

Lynne Close, South Croydon, Surrey, CR2 8QA - 4 views - 2 months ago

Refurb/BRRR
~68 m²
+10 photos

ValuationOvervalued

Sold Prices£310.5K - £680K
Sold Prices/m²£3.3K/m² - £8.6K/m²

 

 

Square Metres

~68.11 m²
Price/m²£8.1K/m²

Value Estimate

£378,394

 

 

End Value (After Refurb)

£515,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£137,500

Stamp Duty & Legal Fees

£43,700

Refurb Costs

£36,043

Bridging Loan Interest

£14,438

Total Cash In

£233,430

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£515,000

Mortgage (After Refinance)

£386,250

Mortgage LTV

75%

Cash Left In

£233,430

Equity

£128,750

Rent Range

£1,399 - £2,095

Rent Estimate

£1,758

Running Costs/mo

£1,981

Cashflow/mo

£-223

Cashflow/yr

£-2,676

Gross Yield

4%

Local Sold Prices

22 sold prices from £310.5K to £680K, average is £375K. £3.3K/m² to £8.6K/m², average is £6K/m².

PriceDateDistanceAddressBeds 
£445K11/200.12 mi6, Greystone Close, South Croydon, Greater London CR2 8PP2
£395K09/210.12 mi11, Curlew Close, South Croydon, Greater London CR2 8QT2
£405K06/230.17 mi39, Bullfinch Road, South Croydon, Greater London CR2 8PU2
£375K04/210.24 mi22, Albatross Gardens, South Croydon, Greater London CR2 8QX2
£680K06/230.38 mi37, Kingswood Way, South Croydon, Greater London CR2 8QL2
£380K03/230.39 mi6, Kittiwake Close, South Croydon, Greater London CR2 8SQ2
£350K12/220.39 mi8, Southviews, South Croydon, Greater London CR2 8SH2
£375K02/210.39 mi6, Wagtail Gardens, South Croydon, Greater London CR2 8TA2
£430K12/220.41 mi27, Wagtail Gardens, South Croydon, Greater London CR2 8TA2
£310.5K01/210.42 mi84, Sundale Avenue, South Croydon, Greater London CR2 8RP2
£312.5K07/210.42 mi94, Sundale Avenue, South Croydon, Greater London CR2 8RP2
£317.5K02/210.42 mi78, Sundale Avenue, South Croydon, Greater London CR2 8RP2
£350K02/210.42 mi76, Sundale Avenue, South Croydon, Greater London CR2 8RP2
£370K11/220.43 mi16, Southviews, South Croydon, Greater London CR2 8SH2
£375K01/230.45 mi86, Sundale Avenue, South Croydon, Greater London CR2 8RP2
£365K08/210.48 mi95, Foxearth Road, South Croydon, Greater London CR2 8EN2
£330K11/210.67 mi154, Middlefields, Croydon, Greater London CR0 9LJ2
£565K01/210.85 mi29, Church Way, South Croydon, Greater London CR2 0JU2
£575K06/230.87 mi26, The Gallop, South Croydon, Greater London CR2 7LP2
£475K11/200.87 mi30, The Gallop, South Croydon, Greater London CR2 7LP2
£380K06/230.92 mi72, Lomond Gardens, South Croydon, Greater London CR2 8EQ2
£348.5K06/210.92 mi70, Lomond Gardens, South Croydon, Greater London CR2 8EQ2

Local Rents

11 rents from £1.4K/mo to £2.1K/mo, average is £1.6K/mo.

RentDateDistanceAddressBeds 
£2,09503/250.2 mi-2
£1,39902/240.35 mi-2
£1,49902/250.35 mi-2
£1,49904/250.35 mi-2
£1,75009/240.49 mi-2
£1,65002/250.49 mi-2
£1,50002/240.5 mi-2
£1,60004/250.52 mi-2
£1,80003/240.55 mi-2
£1,85012/240.55 mi-2
£1,90003/250.55 mi-2

Local Area Statistics

Population in CR2

48,427

Town centre distance

0.88 miles away

Nearest school

0.20 miles away

Nearest train station

1.18 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

-35%

Sales demand

Balanced market

Capital growth (5yrs)

+11%

Property History

Listed for £550,000

February 28, 2025

Floor Plans

Description

Do not miss this opportunity to acquire this rarely available two bedroom detached bungalow which is situated on a large corner plot within a cul de sac location.
The property benefits from an Everest refitted kitchen with fully integrated appliances, fitted bathroom with separate w/c, two good sized bedrooms, large living room with patio doors to rear garden, larger than average garage, front and rear gardens, gas central heating, Everest double glazed windows/doors, replacement gutters and UPVC soffits & fascia’s. Off street parking.
There is scope for extending around the property and in loft (subject to relevant planning approval).
Although very presentable, the property would benefit from modernisation in some areas; this has been reflected in the asking price.
The current owners have resided in the property for over 30 years and have enjoyed the far reaching views over
the Bird Sanctuary along with its quiet location. This property is conveniently located for bus services, local
amenities, shops and schools. Call now to appreciate all of the benefits this CHAIN FREE property offer. Freehold/
Croydon Council tax band E/ EPC on order.

Entry -

Hallway -

Living Room - 7.52m x 3.71m (24'8 x 12'2) -

Kitchen - 3.07m x 3.76m (10'1 x 12'4) -

Bedroom - 3.66m x 3.73m (12'0 x 12'3) -

Bedroom - 2.79m x 2.79m (9'2 x 9'2) -

Bathroom -

Separate W.C -

Garden -

Garage - 6.96m x 4.42m (22'10 x 14'6) -

Off Street Parking -

Agent Details

Paul Meakin Estate Agents, South Croydon

020 3910 6643

Next Steps?

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