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2 Bed Flat, Single Let, Southend-on-Sea, SS2 5DZ, £130,000

Flat 10 Optical Court, 16 Kenway, Southend-on-Sea, Essex, SS2 5DZ - 4 views - a month ago

Leasehold
Auction
BTL
ROI: 14%
~68 m²
+3 photos

ValuationUndervalued

Sold Prices£75K - £440K
Sold Prices/m²£2.3K/m² - £5.4K/m²

 

 

Square Metres

~68.11 m²
Price/m²£1.9K/m²

Value Estimate

£162,500
BMV25%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£32,500

Stamp Duty & Legal Fees

£7,800

Total Cash In

£40,300

 

 

Cash Out

 

Rent Range

£995 - £1,650

Rent Estimate

£1,100

Running Costs/mo

£646

Cashflow/mo

£454

Cashflow/yr

£5,445

ROI

14%

Gross Yield

10%

Local Sold Prices

51 sold prices from £75K to £440K, average is £200K. £2.3K/m² to £5.4K/m², average is £3.2K/m².

PriceDateDistanceAddressBeds 
£220K03/230.12 mi126, East Street, Southend-on-sea SS2 5EE2
£248K08/230.15 mi180, East Street, Southend-on-sea SS2 5EA2
£220K02/230.2 mi485a, Sutton Road, Southend-on-sea SS2 5PL2
£210K08/230.2 mi473b, Sutton Road, Southend-on-sea SS2 5PL2
£145K07/210.21 mi24, Tunbridge Road, Southend-on-sea SS2 6LT2
£220K12/230.21 mi24a, Tunbridge Road, Southend-on-sea SS2 6LT2
£75K04/210.22 miFlat 27, Martins Court, Stadium Road, Southend-on-sea SS2 5DH2
£210K12/200.26 mi96, Ennismore Gardens, Southend-on-sea SS2 5RB2
£218K11/210.26 mi96a, Ennismore Gardens, Southend-on-sea SS2 5RB2
£237.5K05/230.26 mi108a, Ennismore Gardens, Southend-on-sea SS2 5RB2
£235K01/210.33 mi2a, Dryden Avenue, Southend-on-sea SS2 5EU2
£210K09/210.39 mi41, Central Avenue, Southend-on-sea SS2 5HR2
£202.5K02/210.44 mi29, South Avenue, Southend-on-sea SS2 5JA2
£200K09/210.45 mi70a, South Avenue, Southend-on-sea SS2 5JB2
£200K09/210.48 mi43a, Swanage Road, Southend-on-sea SS2 5HX2
£200K09/210.48 mi70a, South Avenue, Southend-on-sea SS2 5JB2
£275K12/220.5 mi339, Bournemouth Park Road, Southend-on-sea SS2 5LQ2
£235K03/230.52 mi49a, Boston Avenue, Southend-on-sea SS2 6JH2
£265K12/230.52 mi57, Boston Avenue, Southend-on-sea SS2 6JH2
£140.5K03/210.53 mi40, Sutton Road, Southend-on-sea SS2 5EW2
£240K09/210.55 mi55, Shakespeare Drive, Westcliff-on-sea, Southend-on-sea SS0 9AA2
£190K12/200.63 mi19, Rayleigh Avenue, Westcliff-on-sea, Southend-on-sea SS0 7DS2
£165K10/230.63 mi7a, Rayleigh Avenue, Westcliff-on-sea, Southend-on-sea SS0 7DS2
£200K02/210.65 mi69a, Wimborne Road, Southend-on-sea SS2 4JR2
£180K11/210.67 mi83b, Princes Street, Southend-on-sea SS1 1PT2
£200K03/210.68 mi78, Boscombe Road, Southend-on-sea SS2 4JP2
£180K05/210.68 mi101a, Boscombe Road, Southend-on-sea SS2 4JP2
£180K08/230.68 mi32b, Elmer Avenue, Southend-on-sea SS1 1NB2
£130K08/230.68 mi75a, Tyrrel Drive, Southend-on-sea SS1 2LN2
£193K12/230.68 mi6, Tyrrel Drive, Southend-on-sea SS1 2LN2
£245K05/230.7 mi11a, Shakespeare Avenue, Westcliff-on-sea, Southend-on-sea SS0 0ST2
£187.5K07/210.7 mi15, Napier Avenue, Southend-on-sea SS1 1LY2
£177K07/210.71 mi30a, Westborough Road, Westcliff-on-sea, Southend-on-sea SS0 9DP2
£220K10/230.72 miGround Floor Flat, 28, Whitegate Road, Southend-on-sea SS1 2LQ2
£200K11/210.73 mi259, Hamlet Court Road, Westcliff-on-sea, Southend-on-sea SS0 7DD2
£235K10/230.73 mi10, Ashburnham Road, Southend-on-sea SS1 1QD2
£210K12/230.74 mi9a, Lancaster Gardens, Southend-on-sea SS1 2NS2
£177K03/210.75 mi11a, Oban Road, Southend-on-sea SS2 4JJ2
£177K03/210.75 mi11a, Oban Road, Southend-on-sea SS2 4JJ2
£200K06/210.76 mi31a, Christchurch Road, Southend-on-sea SS2 4JS2
£166.5K11/200.77 miFlat 14, Napier Court West, Gordon Place, Southend-on-sea SS1 1NH2
£440K12/200.77 mi1, Beeleigh Close, Southend-on-sea SS2 6PA2
£150K06/210.77 mi7, Balmoral Road, Westcliff-on-sea, Southend-on-sea SS0 7DG2
£198K04/210.78 mi40a, Westbury Road, Southend-on-sea SS2 4DP2
£205K04/210.79 mi64, Westborough Road, Westcliff-on-sea, Southend-on-sea SS0 9DL2
£210K12/200.79 mi107, Rylands Road, Southend-on-sea SS2 4LL2
£208K03/230.79 mi158, Glenwood Avenue, Westcliff-on-sea, Southend-on-sea SS0 9DT2
£213K12/230.79 mi194, Fairfax Drive, Westcliff-on-sea, Southend-on-sea SS0 9BG2
£209K12/200.79 mi262, Central Avenue, Southend-on-sea SS2 4EE2
£185K02/210.79 mi30, Hamlet Road, Southend-on-sea SS1 1HJ2
£192.5K06/210.79 mi27a, Stromness Road, Southend-on-sea SS2 4JG2

Local Rents

36 rents from £995/mo to £1.6K/mo, average is £1.4K/mo.

RentDateDistanceAddressBeds 
£99503/240.05 miKenway, Southend-On-Sea, Essex, SS22
£1,00003/240.05 miVantage Court, Kenway Southend-on-Sea2
£1,29502/240.09 mi-2
£1,25008/240.09 mi-2
£1,25008/240.09 mi-2
£1,05001/250.17 mi-2
£1,35004/250.2 mi-2
£1,30003/250.21 mi-2
£1,25009/240.32 mi-2
£1,25009/240.32 mi-2
£1,25008/240.32 mi-2
£1,35011/240.33 mi-2
£1,50004/250.33 mi-2
£1,35002/250.33 mi-2
£1,35003/250.33 mi-2
£1,45011/230.33 mi-2
£1,27509/240.34 miBeaumont Court, - Victoria Avenue, Southend-On-Sea2
£1,10004/250.34 mi-2
£1,50010/240.34 mi-2
£1,65002/250.34 mi-2
£1,40009/240.35 mi-2
£1,55003/250.35 mi-2
£1,35009/240.35 miBeaumont Court, Victoria Avenue, Southend on Sea2
£1,45009/240.35 miVictoria Avenue, SOUTHEND-ON-SEA2
£1,35009/240.35 miBeaumont Court, Victoria Avenue2
£1,45009/240.35 miVictoria Avenue, SOUTHEND-ON-SEA2
£1,40009/240.35 miVictoria Avenue, Southend-on-Sea2
£1,40009/240.35 miVictoria Avenue, Southend-on-Sea2
£1,40009/240.35 mi2 bedroom 1st Floor Flat in Southend on Sea2
£1,45009/240.35 miVictoria Avenue, SOUTHEND-ON-SEA2
£1,35009/240.35 miVictoria Avenue, SOUTHEND-ON-SEA2
£1,35003/240.35 miBeaumont Court2
£1,25003/240.35 miBeaumont Court, Southend-On-Sea2
£1,12509/240.35 miThe Pinnacle , Southend-On-Sea2
£1,32509/240.35 miThe Avenue, Southend-on-sea, Essex2
£1,32503/240.35 miThe Avenue, Southend-on-sea, Essex2

Links

Local Area Statistics

Population in SS2

36,418

Population in Southend-on-Sea

106,129

Town centre distance

0.37 miles away

Nearest school

0.10 miles away

Nearest train station

0.20 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+8%

Sales demand

Balanced market

Capital growth (5yrs)

+24%

Property History

Listed for £130,000

March 22, 2025

Floor Plans

Description

  • Leasehold +
  • Strictly by appointment with the Auctioneers +

FOR SALE BY PUBLIC AUCTION ON THURSDAY, 10TH APRIL 2025 AT 12.00PM. LIVE STREAMED VIA DEDMAN GRAY WEBSITE. BIDDING AVAILABLE BY TELEPHONE, PROXY AND ONLINE

RESIDENTIAL/BUY TO LET INVESTMENT: A VACANT TWO BEDROOM FLAT LOCATED ON A POPULAR NEW DEVELOPMENT CLOSE TO THE CITY CENTRE
This spacious two bedroom apartment in need of redecoration throughout and located close to major travel links including London Southend airport. It is considered that the property would be very popular among both owner occupiers and buy to let investors.
Entrance Hall
Living Room/Kitchen 14' 9' x 14' 9
Bedroom One 14' 4 x 11' 4
Bedroom Two 13' 11 x 8' 3
Bathroom/WC 8' 6 x 5' 4
A 125 year lease from 1st January, 2007 with 107 years remaining
For details on the service charge and ground rent please refer to the legal pack
C

Agent Details

Dedman Gray Auctions, Essex

01702 311010

Next Steps?

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