3-bedroom flat · PO31 7AA
Listing removedReduced £50k (−14.3%) on 21 JunListed 300 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
A beautifully presented and spacious 3 bedroom, purpose built, ground floor apartment.
Situated within the popular development of Drake House - only a short walk from local shops and minutes from the Southampton high speed ferry link.
Complete with an 8m lounge/diner, 2 bathrooms and allocated parking. Offered chain free. Entrance Porch The building has doors front and rear. Video phone entry system for guests.
- Lift to all floors. Hall The apartment has a large welcoming central hall - with storage cupboards.
Accommodation off Lounge/Diner (27' 6'' x 15' 1'' (8.39m x 4.6m) max) A large and spacious dual purpose reception - with front aspect. Opening to .....
Kitchen (8' 10'' x 7' 10'' (2.7m x 2.4m)) A modern fitted kitchen with plenty of storage and counter tops. Integrated, cooker and electric hob. Additional space and plumbing for white goods.
Bedroom 1 (13' 9'' x 13' 1'' (4.2m x 4.0m)) A large master bedroom with wardrobes. Rear aspect. Ensuite. Ensuite Fitted with a shower cubicle vanity basin and w/c. Heated towel rail.
Bedroom 2 (10' 1'' x 9' 5'' (3.08m x 2.88m)) A rear aspect double bedroom. Bedroom 3 (10' 1'' x 7' 1'' (3.08m x 2.15m)) A third rear aspect bedroom.
Bathroom Separate family bathroom - complete with double width shower cubicle, vanity basin, w/c and heated towel rail.
Outside There is a single allocated parking space within a short flat walk of apartment to the rear. Communal gardens and bin store.
Tenure Leasehold 125 years from 2004 - 101 years remaining Ground Rent £0 Service Charge £2600 per annum Holiday letting and pets are prohibited. Standard residential letting is allowed.
Value & comps
No previous sales on record.
Returns
Set an offer; the calculator follows it.
We're still gathering serviced-accommodation data for this area.
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
Agent & docs
FAQ
About 21 Drake House, Medina Gardens, Cowes
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