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Chain Free * Lake

South East

£245,000
Listed on 20/10/2025

Property Details

Bedrooms
2
Type
Detached house

Description

This charming detached bungalow is nestled in a serene cul-de-sac on the sought-after Merrie Gardens estate. With local amenities such as supermarkets and bus routes to Shanklin and Sandown just a short walk away, this location offers convenience alongside tranquility. The home's layout features two bedrooms, a spacious lounge/dining area, a separate kitchen, a conservatory, and a bathroom. Complementing the living space is an adjoining garage with an up-and-over door and a generous rear garden that has potential for landscaping or expansion. Given its desirable setting and room for personalization, this property presents an exciting opportunity for renovation enthusiasts or investors looking to create their ideal coastal retreat.

Investment Analysis

(PO36 area)
Area Average
£284/sq ft
Avg Rent (weekly)
£193
Avg Yield
3.7%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£25,000 - £40,000
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
12%
Properties sold annually

Local Market Trend (PO36)

Area prices are rising by +3.3% over the last 12 months
3 year growth: -6.2%
5 year growth: +16.5%
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 4.06%

Current average variable rate is 6.81%

Monthly Repayments
£884
Based on a loan of £183,750 over 30 years at 4.06% 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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