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CHAIN FREE * LAKE

South East

£250,000
Listed on 20/09/2025

Property Details

Bedrooms
2
Type
Detached house
Area
570 sqft

Description

Situated in a serene cul-de-sac within the sought-after Merrie Gardens estate, this detached bungalow offers significant potential for renovation and personalization. The property contains two bedrooms, a lounge/dining area, a separate kitchen, a conservatory, and a bathroom, making it a versatile space for updating. The front features a gravel driveway that leads to off-road parking and access to the garage, while the rear boasts a garden primarily laid to lawn with an additional patio area and greenhouse. This setting provides an excellent canvas for those looking to invest in improvements or extend their living space. The close proximity to local supermarkets and regular bus services to Shanklin and Sandown enhances its appeal for anyone considering it as their next home or rental investment. Viewing is encouraged to grasp the full extent of what this chain-free property can offer in terms of renovation opportunities.

Investment Analysis

(PO36 area)

Above Market Value

This property is priced +52.1% above area average per sq ft

+52.1%
This Property
£439/sq ft
Area Average
£288/sq ft
Avg Rent (weekly)
£208
Avg Yield
3.9%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£20,000 - £40,000
Target Value
£180,827
10% above area average per sq ft
Potential ROI
-37.6%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
17
Average per month
Market Turnover
8%
Properties sold annually

Local Market Trend (PO36)

Area prices are rising by +4.0% over the last 12 months
3 year growth: -3.6%
5 year growth: 22.3%
Investment Disclaimer: Analysis based on PO36 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. 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

CHAIN FREE * LAKE
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£916
Based on a loan of £187,500 over 30 years at 4.19% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

Next Steps

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE