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Magdalen Hill, Winchester

South East

£400,000
Listed on 20/02/2025

Property Details

Bedrooms
2
Type
Semi-detached house
Area
807 sqft

Description

This charming cottage features two bedrooms and boasts striking rooftop views of the city. Conveniently located across from St Giles Hill, it offers the perfect blend of urban living with access to nearby green spaces. The property is within walking distance of local pubs, coffee shops, and the iconic Cathedral, making it an appealing choice for those who value both convenience and community. The exterior showcases a classic red brick façade that hints at its character-filled interior. Inside, the unique three-story layout enhances the home's potential for renovation. On the main level, you'll find two reception rooms adorned with original fireplaces that contribute to the property's period charm. A discreet staircase leads to the upper floor where both bedrooms offer exceptional views, each featuring their own fireplace as well. The kitchen, while in need of modern updates, is spacious and connects directly to an easily manageable garden. This outdoor space includes an outhouse for additional storage—ideal for bicycles or gardening tools—providing further utility to the property. Additionally, there’s a separate utility area and a main bathroom located on this ground floor. For investors, this property presents a promising opportunity with a projected rental income of £1,600 per month, which translates into a gross yield of 4.2%. With no onward chain and significant scope for personalization and upgrades, this cottage serves as an excellent blank canvas for first-time buyers or seasoned renovators alike. Local parking permits are available from Hampshire County Council, further enhancing its appeal in this desirable location.

Investment Analysis

(SO23 area)

Above Market Value

This property is priced +0.4% above area average per sq ft

+0.4%
This Property
£496/sq ft
Area Average
£494/sq ft
Avg Rent (weekly)
£361
Avg Yield
3.5%

Renovation Potential

Est. Renovation Cost
£40,000 - £100,000
10-25% of property value
Target Value
£438,169
10% above area average per sq ft
Potential ROI
-12.4%
After renovation
Monthly Sales
24
Average per month
Market Turnover
26%
Properties sold annually

Local Market Trend (SO23)

Area prices are stable by +0.3% over the last 12 months
3 year growth: 2.1%
5 year growth: 17.6%
Investment Disclaimer: Analysis based on SO23 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

Magdalen Hill, Winchester
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