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Chain Free * Lake

South East

£250,000
Listed on 20/10/2025

Property Details

Bedrooms
2
Type
Detached house

Description

Nestled in a serene cul-de-sac within the sought-after Merrie Gardens estate, this detached bungalow presents an exciting opportunity for renovation or investment. The property is conveniently located, with various supermarkets and bus stops offering regular services to nearby Shanklin and Sandown just a short stroll away. The accommodation features two bedrooms, a spacious lounge/dining room, a separate kitchen, a conservatory, and a bathroom. An adjacent garage with an up-and-over door adds practicality, while the generous rear garden provides ample outdoor space for potential landscaping or expansion. Given its desirable location and layout, this property is ideally suited for those looking to create their ideal home or capitalize on the growing rental market in one of the Isle's most inviting coastal regions. A viewing is strongly suggested to explore the full potential this bungalow has to offer. *Please note that any alterations or upgrades may enhance both value and enjoyment of this property.*

Investment Analysis

(PO36 area)
Area Average
£288/sq ft
Avg Rent (weekly)
£208
Avg Yield
3.9%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£20,000 - £35,000
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

£
£
£
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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