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2 Bed Flat, Single Let, Blackpool, FY1 5AJ, £75,000

Coop Street, Blackpool, FY1 5AJ - 2 years ago

Under Offer
Leasehold
BTL
ROI: 7%
~68 m²
+5 photos

ValuationUndervalued

Sold Prices£45K - £129.9K
Sold Prices/m²£606/m² - £2.2K/m²

 

 

Square Metres

~68.11 m²
Price/m²£1.1K/m²

Value Estimate

£81,414
BMV9%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£18,750

Stamp Duty & Legal Fees

£4,950

Total Cash In

£23,700

 

 

Cash Out

 

Rent Range

£433 - £1,517

Rent Estimate

£485

Running Costs/mo

£351

Cashflow/mo

£134

Cashflow/yr

£1,604

ROI

7%

Gross Yield

8%

Local Sold Prices

45 sold prices from £45K to £129.9K, average is £78K. £606/m² to £2.2K/m², average is £1.1K/m².

PriceDateDistanceAddressBeds 
£65K11/210.07 miFlat 8, The Maltings, Yorkshire Street, Blackpool FY1 5BF2
£55K03/210.49 mi55a, Grasmere Road, Blackpool FY1 5HP2
£50K07/210.49 mi59f, Grasmere Road, Blackpool FY1 5HP2
£58K02/210.49 mi53f, Grasmere Road, Blackpool FY1 5HP2
£52.5K03/230.57 mi22, Condor Grove, Blackpool FY1 5JU2
£107.5K05/210.59 mi49, Topping Street, Blackpool FY1 3AF2
£58K05/210.61 mi26, Condor Grove, Blackpool FY1 5LT2
£78K03/210.65 mi9, Somerset Court, Blackpool FY1 5QQ2
£87K01/230.69 miFlat C, 189, Bloomfield Road, Blackpool FY1 6QH2
£70K01/210.76 mi129, St Heliers Road, Blackpool FY1 6JD2
£60K08/220.89 mi88, Gorton Street, Blackpool FY1 3HP2
£63.5K05/210.91 mi162 - 164, Caunce Street, Blackpool FY1 3NJ2
£65K04/210.94 miFlat 39, Grizedale Court, Forest Gate, Blackpool FY3 9AP2
£77K10/220.94 miFlat 6, Dutton Court, Dutton Road, Blackpool FY3 8DH2
£80K07/220.96 mi21, Eccleston Road, Blackpool FY1 6AU2
£55K07/231.08 mi1c, South Lawn, Blackpool FY4 4BN2
£45K03/211.08 mi1d, South Lawn, Blackpool FY4 4BN2
£78K12/221.08 mi2f, South Lawn, Blackpool FY4 4BN2
£49.5K11/201.09 mi408f, Waterloo Road, Blackpool FY4 4BL2
£58K04/231.09 mi408c, Waterloo Road, Blackpool FY4 4BL2
£51K11/201.16 mi102, Spencer Court, Blackpool FY1 3TP2
£62K02/211.16 miFlat 7, Claughton Mansions, Harcourt Road, Blackpool FY4 3ES2
£90K04/231.23 mi36, Lomond Avenue, Blackpool FY3 9QL2
£83K03/231.26 mi11, Hampstead Mews, Blackpool FY1 2SG2
£59K05/231.39 mi12a, Northfield Avenue, Blackpool FY1 2ND2
£70K10/221.46 mi116, Boston Way, Blackpool FY4 4YB2
£49K02/211.48 mi91, Boston Way, Blackpool FY4 4YQ2
£59K05/211.55 mi29a, Burlington Road, Blackpool FY4 1JS2
£109K01/231.59 miFlat 16, Warbreck Court, Warbreck Hill Road, Blackpool FY2 9SR2
£94K07/231.59 miFlat 4, Warbreck Court, Warbreck Hill Road, Blackpool FY2 9SR2
£91.5K07/211.59 miFlat 1, Warbreck Court, Warbreck Hill Road, Blackpool FY2 9SR2
£97K03/231.59 miFlat 14, Warbreck Court, Warbreck Hill Road, Blackpool FY2 9SR2
£92K01/231.69 miFlat 5, Argyll Court, Argyll Road, Blackpool FY2 9UF2
£80K02/211.71 miFlat 4, Vine Court, Gosforth Road, Blackpool FY2 9UL2
£100K06/231.72 mi2, Park View Court, Blackpool FY4 2RD2
£114K08/231.72 mi10, Park View Court, Blackpool FY4 2RD2
£107K10/221.77 miFlat 11, Carrick Mews, Kingsley Road, Blackpool FY3 9US2
£129.9K07/211.78 mi68, Clifton Drive, Blackpool FY4 1NX2
£120K10/221.81 mi8, Camborne Court, Blackpool FY3 9NS2
£112.5K09/231.82 mi58, Harrowside, Blackpool FY4 1LY2
£107K05/231.82 mi60, Harrowside, Blackpool FY4 1LY2
£95K06/231.91 mi10, Teal Court, Blackpool FY3 8FT2
£91K02/231.91 mi12, Teal Court, Blackpool FY3 8FT2
£94K02/231.96 mi114, Southbank Avenue, Blackpool FY4 5BX2
£52K04/211.99 mi97, Normoss Avenue, Blackpool FY3 7PX2

Local Rents

52 rents from £433/mo to £1.5K/mo, average is £675/mo.

RentDateDistanceAddressBeds 
£75004/240.01 miCoop Street, Blackpool, FY1 5AJ2
£85012/240.03 mi-2
£85004/250.03 mi-2
£85003/250.05 mi-2
£85002/240.06 mi-2
£80004/240.06 mi-2
£80012/240.06 mi-2
£80001/250.06 mi-2
£85003/250.06 mi-2
£55005/240.07 mi-2
£55005/240.07 mi-2
£58504/250.14 mi-2
£45004/240.22 miFlat 5, Central Drive, Blackpool, FY1 5JN2
£65004/240.23 mi-2
£67502/250.23 mi-2
£65004/250.23 mi-2
£70004/240.24 miBack Palatine Road, Blackpool, FY1 4DA2
£60004/250.28 mi-2
£80012/240.28 mi-2
£67504/240.33 miAnderson Street, Blackpool, FY12
£90004/240.33 miAshton Road,Blackpool,FY12
£59502/250.36 mi-2
£60010/230.38 miLonsdale Road, Blackpool2
£52001/250.38 mi-2
£43304/240.39 mi-2
£68512/240.39 mi-2
£70004/250.39 mi-2
£64903/250.4 mi-2
£60004/240.41 mi-2
£62504/240.41 miAshton Road, Blackpool2
£62503/250.41 mi-2
£1,25004/240.41 mi-2
£80012/240.44 mi-2
£80004/250.44 mi-2
£1,20004/250.44 mi-2
£65001/250.44 mi-2
£65004/250.44 mi-2
£52005/240.45 mi-2
£52005/240.45 mi-2
£70004/240.46 miWestmorland Avenue, Blackpool2
£70004/240.47 miMoon Avenue, Blackpool, FY1 6EH2
£65005/240.48 miCentral Drive, Blackpool2
£70005/240.48 miCentral Drive, Blackpool2
£67004/240.49 miGrasmere Road, Blackpool2
£62004/240.51 miAdelaide Street, Blackpool2
£1,51704/250.53 mi-2
£65004/240.53 miCheapside, Blackpool2
£65005/240.53 miCheapside, Blackpool2
£69504/240.54 miAmberbanks Grove, Blackpool2
£68004/240.57 miLytham Road, Blackpool2
£72004/240.57 miLytham Road, Blackpool2
£60004/240.61 miFlat B,164 Reads Avenue, Blackpool, Lancashire, FY12

Links

Local Area Statistics

Population in FY1

33,505

Population in Blackpool

133,713

Town centre distance

1.76 miles away

Nearest school

0.40 miles away

Nearest train station

0.76 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+26%

Sales demand

Balanced market

Capital growth (5yrs)

+11%

Property History

Price changed to £75,000

October 25, 2024

Price changed to £80,000

October 2, 2024

Listed for £77,500

November 7, 2022

Floor Plans

Description

  • Investment opportunity +
  • Sold with tenants in situ with a current income of £850 PCM +
  • Open Plan Lounge Kitchen Diner +
  • Fully Furnished +
  • Ground Floor Flat +
  • Shared Garden +

*Investment opportunity* Fully furnished Block of 3 flats with the Ground floor for sale in Blackpool Town Centre close to shops, amenities and transport links. The property briefly comprises of open plan kitchen, lounge and diner with two bedrooms, bathroom and shared garden to the rear of the property. The property is being sold with tenants in situ and the current rental income is £850 PCM.  On the purchase of this flat the buyer will become the freeholder of the building and will gain the leasehold for flat 2 and 3, please see details below for further information: Flat 2
125 year lease - July 2022
Ground rent - £60PA
Service charge - £375 PA

Flat 3
125 year lease - September 2022
Ground rent - £70PA
Service charge - £375 PA

Building comes with 10 year new build structural warranty and flat roof guarantee. 

EPC Rating: D

Agent Details

Stephen Tew Estate Agents, Blackpool

01256 961179

Next Steps?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪

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