Flip this run down Bungalow for £87,000 profit!

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sold out

Flip this run down Bungalow for £87,000 profit!

£6,997.00

Overview

This 4-bedroom detached bungalow on Augustan Drive in the sought-after village of Caerleon, Newport, presents a lucrative investment opportunity. Priced at £160,000, this property requires extensive renovation, making it an ideal project for investors seeking a substantial return. Once refurbished, it has a projected resale value of £350,000, offering a £87,000 profit after a total renovation cost of £80,000 and other expenses.

Figures in Brief:
Purchase Price: £160,000
Renovation Costs: £80,000 (very conservative to provide a stunning end product)
End sale price: £350,000
After all costs profit: £87,000

Reserve this deal here for £299. This is refundable if you decide not to go ahead after due diligence.

Add To Cart

Please note: This property is not mortgageable in its current condition and requires a cash or bridge purchase.

About the Area: Caerleon

Nestled along the banks of the River Usk, Caerleon is a historic and picturesque village renowned for its Roman heritage and charming community atmosphere. Its blend of history, culture, and modern amenities makes it a magnet for retirees, families, and professionals alike.

  • A Desirable Retirement Spot: Known for its peaceful environment, Caerleon offers an excellent quality of life. The village boasts easy access to scenic walking routes, historic sites, and a strong sense of community—qualities that make it a favourite among retirees looking to settle in a serene yet well-connected location.

  • Connectivity and Amenities: With convenient transport links to Newport, Cardiff, and Bristol, Caerleon is ideally situated for those seeking a tranquil lifestyle without sacrificing access to city conveniences.

Why Bungalows Command a Premium

Detached bungalows, especially those in desirable areas like Caerleon, are in consistently high demand due to their versatility. Their single-story design appeals to a wide demographic, including retirees, young families, and those with mobility needs. With limited new developments focusing on bungalows, properties like 17 Augustan Drive are increasingly rare, commanding a premium price in the local market.

Property Details

The property comprises:

  • Interior:

    • Hallway

    • Lounge

    • Kitchen

    • Bathroom

    • Four bedrooms

  • Exterior:

    • Front garden and a driveway leading to a garage

    • Generously sized rear garden with stunning views

The Renovation Opportunity

This property is in need of substantial modernisation, presenting a blank canvas for transformation into a modern, stylish, and energy-efficient home. The renovation could include:

  • Reconfiguring the layout to create a spacious, open-plan living area

  • Installing a contemporary kitchen and bathroom

  • Updating wiring, plumbing, and insulation to meet current standards

  • Landscaping the rear garden to enhance the outdoor space and capitalise on the property’s scenic views

Financials at a Glance

  • Purchase Price: £160,000

  • Renovation Costs: £80,000

  • Projected Sale Price: £350,000

  • Estimated Profit (After Expenses): £85,000

Why Invest in This Project?

  • Strong Profit Margins: A potential return of over 50% on investment.

  • High Demand for Renovated Bungalows: Bungalows in this area, especially with modern upgrades, are highly sought after.

  • Prime Location: The Caerleon area is a hotspot for retirees and families, ensuring a wide pool of potential buyers.

  • Hands-Off Renovation Support: With our expert project management services, this property can be transformed with minimal hassle, ready for sale or rental.

  • Cash or Bridge Purchase Required: The property’s current condition makes it unsuitable for traditional mortgages, requiring a cash or bridging loan for acquisition.

Investors seeking a profitable and rewarding renovation project in one of South Wales’ most desirable locations should act quickly to secure this opportunity.


Number of Bedrooms (current): 4

Is there potential to add a bedroom?: No

Reception Rooms: 1

Bathrooms/shower-rooms: 2

Property Asking Price: £160,000

Agreed Sale Price: £160,000

Fair Market Value (DUV): £350,000



Market Status: on the market

Why is the property being sold?: Unknown

Is the property in a lettable condition: No

Is the sale price negotiable?: No

Property Type: House

Freehold or Leasehold: Freehold

Is the property part of portfolio?: No

Exit Strategy 1: Cash Purchase Flip (or bridge)

Potential Target Demographic: Families and retirees


Flip Figures

Purchase Price: £160,000

Refurb Costs: £80,000

Entry Legal Costs: £1600

Exit Legal Costs: £1000

Stamp Duty: £6,400

Survey Costs: £450

Broker Fee: 0

Tiger Burrows Consultation Fee: £6997

Estimated 6 months bills costs: £750

Estate Agent Selling Fees: £5460

Total Costs for investor: £262,247 (This is pure cash, no lending costs considered, you should consult your broker)

Re-sale price (DUV): £350,000

Estimated Flip Profit: £87,753


Extensive Renovation Schedule for Caerleon

To transform this property into a modern, high-value home ready for resale at £350,000, the following comprehensive renovation works are recommended:

1. Initial Preparation and Site Clearance

  • Clear all internal and external debris to prepare the property for renovation.

  • Remove old fixtures, fittings, and any non-structural elements, including outdated kitchen units, bathroom suites, and flooring.

  • Inspect the property for structural issues, including dampness, subsidence, or cracks, and address if necessary.

  • Carry out a professional survey to assess wiring, plumbing, and the structural integrity of walls, ceilings, and windows.

2. Electrical and Wiring

  • Fully rewire the property, including:

    • Installation of new consumer unit (fuse box) compliant with current regulations.

    • Upgrading sockets, switches, and lighting fixtures throughout the home.

    • Adding modern features such as USB sockets and energy-efficient LED lighting.

    • Installing external lighting and electrical points for the garage and garden.

    • Testing and certification by a qualified electrician.

3. Plumbing and Heating

  • Replace or upgrade plumbing throughout the property.

  • Install a modern, energy-efficient heating system, including:

    • New combi boiler and radiators with thermostatic controls.

    • Plumbing for the kitchen and bathrooms, ensuring correct water pressure.

    • Installing underfloor heating in key areas (optional for added value).

4. Plastering and Wall Repairs

  • Fully re-plaster all internal walls and ceilings to achieve a smooth finish.

  • Apply damp-proof treatment where required.

  • Repair any damaged or cracked plasterboard.

5. Windows and Doors

  • Replace all windows with modern, energy-efficient double glazing to improve insulation and aesthetics.

  • Install new external doors to improve security and curb appeal.

  • Sand and repaint or replace all internal doors and frames, ensuring they match the property’s updated style.

6. Kitchen Installation

  • Design and install a high-specification kitchen, including:

    • Modern cabinets and countertops.

    • Integrated appliances (oven, hob, extractor, fridge-freezer, dishwasher).

    • Upgraded plumbing for sink and dishwasher.

    • Durable, easy-to-clean flooring and splash-backs.

7. Bathrooms Installation

  • Install modern bathroom suites in all bathrooms:

    • Replace bathtubs, showers, sinks, and toilets with contemporary, high-quality fittings.

    • Add features such as heated towel rails, LED mirrors, and rainfall shower heads.

    • Install tiled walls and flooring for durability and aesthetics.

8. Flooring Throughout

  • Replace all flooring, including:

    • High-quality laminate or engineered wood in living areas.

    • Durable vinyl or tiled flooring in kitchens and bathrooms.

    • Carpet in bedrooms for comfort and warmth.

9. Painting and Decorating

  • Paint all internal walls, ceilings, and woodwork in neutral, modern tones to appeal to a broad range of buyers.

  • Apply feature wallpaper or accent walls in key areas for added style.

10. Woodwork and Finishing Touches

  • Replace or refurbish all skirting boards, architraves, and staircase woodwork (if applicable).

  • Install new built-in storage or shelving to maximise space.

  • Fit modern fixtures and fittings, such as door handles, light fittings, and curtain poles.

11. External Works

  • External Render:

    • Repair and re-render the external walls for a fresh, modern look.

  • Garage and Driveway:

    • Repair and repaint the garage and resurface the driveway.

  • Garden Clearance and Landscaping:

    • Clear overgrown plants, debris, and outdated structures.

    • Re-lay lawns, add low-maintenance flower beds, and install patio or decking areas.

    • Install fencing or hedges for privacy and security.

12. Final Inspections and Certification

  • Conduct final inspections for electrical, plumbing, and structural compliance.

  • Obtain required safety certifications for wiring, gas, and appliances.

This comprehensive renovation schedule ensures the property will meet modern standards and appeal to buyers seeking a turnkey, high-quality home. The completed project will maximise the property’s value and deliver an exceptional return on investment.



Estimated Refurbishment Costs: £80,000