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Wilmington Road, Newhaven

South East

£380,000
Listed on 26/09/2024

Property Details

Bedrooms
4
Type
Detached house
Area
1130 sqft

Description

This four-bedroom detached bungalow offers a substantial opportunity for renovation and investment, situated on an expansive plot in the desirable area of Harbour Heights. While the property is in need of general updating, its generous layout provides a solid foundation for transforming the space into a modern family home or rental investment. Upon entering, you are greeted by a spacious entrance hall featuring several storage cupboards that enhance the functional flow of the home. The lounge stands out as a sizable living area, complete with an open brick fireplace that adds character and warmth. Patio doors provide access to the rear garden, seamlessly connecting indoor and outdoor spaces. The dining area presents a unique vantage point overlooking the kitchen, where there’s ample room for a dining table—perfect for family gatherings. Down a few steps, the kitchen is equipped with a range of wall and base units, along with built-in facilities and enough space to accommodate various appliances. A wall-mounted gas boiler and a window facing the garden complete this space. The property features four well-sized bedrooms. The master bedroom offers plenty of room for wardrobe installations while providing views of the side garden. Bedrooms two and three are comfortable doubles that overlook the front of the property, while bedroom four benefits from direct access to a conservatory that leads to the outdoor area. The family bathroom includes essential fixtures such as a panelled bath, WC, bidet, and sink unit. Outside, the large garden is one of this property's most appealing aspects. It boasts an extensive lawn along with established trees and plants that create an inviting atmosphere for potential landscaping or outdoor enhancements. The front of the property offers off-road parking suitable for multiple vehicles. Given its size and layout, there is significant potential for development or extension (subject to obtaining necessary consents), making it an attractive prospect for investors looking to add value in this sought-after location.

Investment Analysis

(BN9 area)

Above Market Value

This property is priced +3.4% above area average per sq ft

+3.4%
This Property
£336/sq ft
Area Average
£325/sq ft
Avg Rent (weekly)
£234
Avg Yield
3.8%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£25,000 - £40,000
Target Value
£404,348
10% above area average per sq ft
Potential ROI
-3.7%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
11
Average per month
Market Turnover
13%
Properties sold annually

Local Market Trend (BN9)

Area prices are stable by +1.7% over the last 12 months
3 year growth: -0.3%
5 year growth: 19.7%
Investment Disclaimer: Analysis based on BN9 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

Wilmington Road, Newhaven
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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
£1,392
Based on a loan of £285,000 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.

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