2-bedroom flat · PO33 3SX
Sold STCListed 242 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
This beautifully presented, self-contained maisonette makes up a wing of an attractive former vicarage, which is tucked away in the quiet, sought after Pitts Lane in the popular village of Binstead.
Accommodation comprises: a large reception room, two double bedrooms, fitted kitchen and stunning conservatory.
Further benefits include gas central heating, car parking and a walled, gated frontage to the front and rear gardens.
The property is perfectly positioned for rural and coastal walks, including a beautiful amble to the historic Quarr Abbey.
The idyllic location is close to the bustling seaside town of Ryde with its sandy beaches, ferry links, eclectic mix of shops, golf course and restaurants as well as the Independent Ryde School.
Binstead village is well serviced by a Post Office and general store, as well as a family-friendly pub. Viewing is highly recommended.
UPVC door to: Conservatory: 10'0" x 13'0" (3.05m x 3.96m) Aluminium glazed bifold doors. LVT flooring. Two column radiators. Door to hallway. Recessed lighting.
Archway to: Kitchen: 13'0" x 8'0" (3.96m x 2.44m) With a range of base storage units. LVT flooring. Ceramic sink with mixer tap over. UPVC double glazed window to the front. Electric cooker point.
Glass splashbacks and tiled walls. Plumbing for a washing machine. Column radiator. Door to: Inner Hallway: UPVC window to the front. Radiator. Tiled floor. Cloakroom: Half panelled walls.
Low level WC. Solid wood shelf with wash hand basin. Tiled floor. Window to the rear. Living Room: 16'0" x 13'0" (4.88m x 3.96m) This large room is the hub of the home, offering lots of space.
Two shelved recesses. Fireplace. Window to the rear. Coved ceiling. Large window to the side. Two Radiators. TV point. Door to: Bedroom Two: 14'0" x 8'0" (4.27m x 2.44m) Half panelled walls.
Column radiator. Windows to the front and side. Built-in wardrobe and cupboard housing gas fired boiler. Door to: Bathroom: Panelled bath with shower over. Tiled walls and floor..
Low level WC and pedestal wash hand basin. Column radiator. Window to the front. Bedroom One: 18'0" x 12'0" (5.49m x 3.66m) Dual aspect room. Large UPVC double glazed windows to the side and rear.
French door to the rear garden. Two radiators. Rear Garden: Fenced perimeter. Lawned area with gravelled section access to the front. Raised flower beds, large paved area. Brick built garden shed.
Stone walled frontage with gate to parking. Grade ll Listed Building Tenure: Share of Freehold - 152 Years remaining on Lease - Service Charge £1,100 pa. Ground rent £10.00 pa. EPC: D Council Tax: B
Value & comps
No previous sales on record.
Returns
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Archie refurb estimate: a Pro feature
0.0% below asking
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Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
Area
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FAQ
About Pitts Lane, Ryde, Isle Of Wight, PO33
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