2 Bed Flat, Cash/Bridging Only, Derby, DE1 1AW, £60,000

Gower Street, Derby, DE1 1AW - 7 views - 2 years ago

Leasehold
Cash
ROI: 4%
~68 m²
+10 photos

ValuationFair Value

Sold Prices£37K - £155K
Sold Prices/m²£679/m² - £2.9K/m²

 

 

Square Metres

~68.11 m²
Price/m²£881/m²

Value Estimate

£60,000

 

 

End Value (After Refurb)

£106,011

Uplift in Value

+77%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£15,000

Stamp Duty & Legal Fees

£3,000

Refurb Costs

£27,537

Bridging Loan Interest

£1,575

Total Cash In

£48,862

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Estimated Sale Price

£106,011

Agent Fees (1%)

£1,060

Bridging Loan

£45,000

Bridging Loan Interest

£1,575

Flip Profit

£11,088

Local Sold Prices

35 sold prices from £37K to £155K, average is £94K. £679/m² to £2.9K/m², average is £1.5K/m².

PriceDateDistanceAddressBeds 
£90K07/220.18 miFlat 14, Swinscoe House, Rosengrave Street, Derby, City Of Derby DE1 1PS2
£78.5K08/210.29 mi94, Gerard Street, Derby, City Of Derby DE1 1PH2
£87.5K11/200.29 mi114, Gerard Street, Derby, City Of Derby DE1 1PH2
£150K10/200.32 mi18, Castleward Boulevard, Derby, City Of Derby DE1 2LQ2
£140K03/230.32 miFirst Floor Flat, 3, Friary Street, Derby, City Of Derby DE1 1JF2
£48K09/210.45 miFlat 27, Great Northern Point, Great Northern Road, Derby, City Of Derby DE1 1LZ2
£85K06/210.45 miFlat 5, Great Northern Point, Great Northern Road, Derby, City Of Derby DE1 1LZ2
£124K03/210.48 mi53, Farm Street, Derby, City Of Derby DE22 3UJ2
£130K08/210.5 mi4, Salisbury Street, Derby, City Of Derby DE23 6SL2
£42.5K09/220.51 miFlat 5, Alexandra Mill, Great Northern Road, Derby, City Of Derby DE1 1LW2
£111K07/220.51 miFlat 41, Alexandra Mill, Great Northern Road, Derby, City Of Derby DE1 1LW2
£38K04/230.51 miFlat 31, Alexandra Mill, Great Northern Road, Derby, City Of Derby DE1 1LW2
£84.5K09/200.51 miFlat 39, Alexandra Mill, Great Northern Road, Derby, City Of Derby DE1 1LW2
£155K03/230.54 miFlat 9, Nightingale Mews, Calvert Street, Derby, City Of Derby DE1 2RT2
£136K06/210.55 mi103, Parliament Street, Derby, City Of Derby DE22 3RL2
£127.5K07/210.58 miApartment 2, Westpoint, Brook Street, Derby, City Of Derby DE1 3TE2
£143K12/220.58 mi100, Bridge Street, Derby, City Of Derby DE1 3LF2
£116.5K09/200.6 mi5, City Walk, Derby, City Of Derby DE1 3QD2
£127.5K11/200.6 mi22, City Walk, Derby, City Of Derby DE1 3QD2
£116K05/210.6 mi27, City Walk, Derby, City Of Derby DE1 3QD2
£92K11/210.63 mi19, Bloomfield Close, Derby, City Of Derby DE1 2FY2
£114K01/230.63 miApartment 1, Waterside House, Duke Street, Derby, City Of Derby DE1 3BA2
£61.5K03/210.66 miFlat 112, Rivermead House, Bath Street, Derby, City Of Derby DE1 3BT2
£85K10/210.67 mi12, Nuns Street, Derby, City Of Derby DE1 3LL2
£42K11/220.75 miFlat 33, Eaton Court, Leaper Street, Derby, City Of Derby DE1 3NX2
£60K12/200.75 miFlat 32, Eaton Court, Leaper Street, Derby, City Of Derby DE1 3NX2
£37K02/210.75 miFlat 35, Eaton Court, Leaper Street, Derby, City Of Derby DE1 3NX2
£90K01/230.75 mi124, Northumberland Street, Derby, City Of Derby DE23 6UA2
£85K09/200.8 mi5, St Annes Close, Derby, City Of Derby DE1 3NE2
£125K12/200.81 mi98b, St Chads Road, Derby, City Of Derby DE23 6RP2
£110K05/220.87 miFlat 18, Derwent House, Huntingdon Green, Derby, City Of Derby DE21 6AB2
£135K08/220.98 mi41, Auriga Court, Derby, City Of Derby DE1 3RH2
£109K10/220.99 miFlat 52, Mill Point, Rowditch Place, Derby, City Of Derby DE22 3LR2
£94K08/210.99 miFlat 6, Mill Point, Rowditch Place, Derby, City Of Derby DE22 3LR2
£92.5K08/210.99 mi3, Jackdaw Close, Derby, City Of Derby DE22 3SY2

Local Rents

51 rents from £535/mo to £1.2K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£70003/240 miProsperity House, Gower Street, Derby DE1 1AW2
£72504/240 miGower Street, Derby, DE12
£75005/240 miGower Street, Derby, DE12
£85012/240.01 mi-2
£85012/240.01 mi-2
£79503/240.01 miGower Street, Derby2
£79503/240.04 miBabington Court, Gower Street, Derby2
£79503/240.04 miGower Street, Derby, Derbyshire, DE12
£85003/240.04 miBabington Court, Gower Street, Derby2
£83503/240.04 miBabington Court, Derby2
£79503/240.04 miBabington Court, Derby2
£85003/240.04 miBabington Court, Gower Street, Derby2
£85005/240.04 miBabington Court, Gower Street, Derby2
£85005/240.04 miBabington Court, Derby2
£85005/240.04 miBabington Court, Derby2
£80004/240.04 miGower Street, Derby2
£80004/240.04 miGower Street, Derby2
£80005/240.04 miGower Street, Derby2
£80011/240.09 mi-2
£1,18003/240.11 miThe Condor Derby DE12
£1,19003/240.11 miThe Condor Derby DE12
£95004/240.11 miThe Millhouse, Brook Street, Derby2
£1,21504/240.12 miThe Condor Derby DE12
£1,16003/240.12 miThe Condor Derby DE12
£1,19503/240.12 miThe Condor Derby DE12
£1,16003/240.12 miThe Condor Derby DE12
£1,17503/240.12 miThe Condor Derby DE12
£1,20004/240.12 miThe Condor Derby DE12
£1,19504/240.12 miThe Condor Derby DE12
£1,18504/240.12 miThe Condor Derby DE12
£1,20005/240.12 miThe Condor Derby DE12
£1,14003/240.12 miThe Condor Derby DE12
£1,18005/240.12 miThe Condor Derby DE12
£1,15003/240.12 miThe Condor Derby DE12
£1,16503/240.12 miThe Condor Derby DE12
£1,17003/240.12 miThe Condor Derby DE12
£1,17504/240.12 miThe Condor Derby DE12
£1,20004/240.12 miThe Condor Derby DE12
£1,18004/240.12 miThe Condor Derby DE12
£1,18004/240.12 miThe Condor Derby DE12
£1,22005/240.12 miThe Condor Derby DE12
£1,21505/240.12 miThe Condor Derby DE12
£1,16503/240.12 miThe Condor Derby DE12
£1,16003/240.12 miThe Condor Derby DE12
£1,18004/240.12 miThe Condor Derby DE12
£1,05003/240.13 miCastleward, Derby, Derbyshire, DE12
£94504/240.13 miCastleward, Derby, Derbyshire, DE12
£77503/240.16 miGerard Street, Derby2
£53503/240.16 miMacklin Street, Derby, 2
£95003/240.17 miSuede House, 45 John Street, Derby, DE12
£95004/240.17 miSuede House, 45 John Street, Derby, Derbyshire, DE12

Local Area Statistics

Population in DE1

14,046

Population in Derby

308,324

Town centre distance

0.34 miles away

Nearest school

0.40 miles away

Nearest train station

0.64 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+5%

Sales demand

Balanced market

Capital growth (5yrs)

+28%

Property History

Listed for £60,000

April 27, 2023

Floor Plans

Description

  • Two Bedrooms +

  • Open Plan Kitchen/Lounge +

  • Family Bathroom +

  • Upper Floor Apartment +

  • Central Location +

  • Currently Let At £650pcm +

  • Viewings Recommended +

SUMMARY
CASH BUYERS ONLY A well presented two bedroom upper floor apartment with tenants in situ currently paying £650pcm. The property briefly comprises of an open plan kitchen/living/diner, two double bedrooms and a family bathroom.

DESCRIPTION
A well presented two bedroom upper floor apartment with tenants in situ currently paying £650pcm. The property briefly comprises of an open plan kitchen/living/diner, two double bedrooms and a family bathroom. The property is located within the city centre and offers easy access to shops, bars and restaurants. Viewings are highly recommended.

Lease details are currently being compiled. For further information please contact the branch. Please note additional fees could be incurred for items such as leasehold packs.

1. MONEY LAUNDERING REGULATIONS - Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. These particulars do not constitute part or all of an offer or contract.
3. The measurements indicated are supplied for guidance only and as such must be considered incorrect.
4. Potential buyers are advised to recheck the measurements before committing to any expense.
5. Burchell Edwards has not tested any apparatus, equipment, fixtures, fittings or services and it is the buyers interests to check the working condition of any appliances.
6. Burchell Edwards has not sought to verify the legal title of the property and the buyers must obtain verification from their solicitor.

Agent Details

Ashley Adams, Derby

01332 215448

Next Steps?

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