2 Bed Flat, Single Let, West Bromwich, B70 9JT, £100,000

Creed Way, WEST BROMWICH, B70 9JT - 2 views - 2 years ago

Sold STC
Leasehold
BTL
ROI: 10%
~68 m²
+5 photos

ValuationUndervalued

Sold Prices£49K - £131K
Sold Prices/m²£735/m² - £2.3K/m²

 

 

Square Metres

~68.11 m²
Price/m²£1.5K/m²

Value Estimate

£118,924
BMV19%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£25,000

Stamp Duty & Legal Fees

£6,200

Total Cash In

£31,200

 

 

Cash Out

 

Rent Range

£775 - £1,200

Rent Estimate

£750

Running Costs/mo

£483

Cashflow/mo

£268

Cashflow/yr

£3,210

ROI

10%

Gross Yield

9%

Local Sold Prices

50 sold prices from £49K to £131K, average is £97.5K. £735/m² to £2.3K/m², average is £1.7K/m².

PriceDateDistanceAddressBeds 
£57K01/210 mi35, Creed Way, West Bromwich, West Midlands B70 9JT2
£115K11/220.02 mi56, Creed Way, West Bromwich, West Midlands B70 9JW2
£120K12/210.02 mi52, Creed Way, West Bromwich, West Midlands B70 9JW2
£95K08/220.44 miFlat 17, Poets Court, Old Meeting Street, West Bromwich, West Midlands B70 9AG2
£106K07/220.58 mi36, St Clements Lane, West Bromwich, West Midlands B71 4EU2
£92.5K06/210.59 miFlat 12, Poets Court, Old Meeting Street, West Bromwich, West Midlands B70 9AG2
£90K02/210.59 miFlat 7, Poets Court, Old Meeting Street, West Bromwich, West Midlands B70 9AG2
£97K12/210.59 miFlat 14, Poets Court, Old Meeting Street, West Bromwich, West Midlands B70 9AG2
£100K10/220.61 mi134, Gladstone Street, West Bromwich, West Midlands B71 1ER2
£78K02/210.61 mi134, Gladstone Street, West Bromwich, West Midlands B71 1ER2
£99.8K11/220.68 mi14, Austen Walk, West Bromwich, West Midlands B71 1RD2
£95K07/210.81 miFlat 259, Hallam Court, Hallam Street, West Bromwich, West Midlands B71 4HT2
£100K11/220.9 mi38, Church Vale, West Bromwich, West Midlands B71 4DB2
£110K05/230.91 mi9, Westley Court, West Bromwich, West Midlands B71 1HH2
£92K08/210.91 mi35, Westley Court, West Bromwich, West Midlands B71 1HH2
£120K04/220.91 mi22, Westley Court, West Bromwich, West Midlands B71 1HH2
£85K05/210.97 mi4, Overton Place, West Bromwich, West Midlands B71 1RL2
£67K06/220.97 mi3, Overton Place, West Bromwich, West Midlands B71 1RL2
£62.5K08/221 mi19a, Jesson Street, West Bromwich, West Midlands B70 6PR2
£105K12/221.01 mi12, Princes Gate, West Bromwich, West Midlands B70 6HU2
£103K11/211.01 mi59, Princes Gate, West Bromwich, West Midlands B70 6HU2
£101.5K04/211.01 mi43, Princes Gate, West Bromwich, West Midlands B70 6HU2
£92.5K12/221.01 mi15, Princes Gate, West Bromwich, West Midlands B70 6HU2
£95K11/221.03 mi124, Wiltshire Way, West Bromwich, West Midlands B71 1JU2
£90K03/231.04 miFlat 2, Macauley House, Glover Street, West Bromwich, West Midlands B70 6DY2
£122.5K01/211.09 mi6, Kellner Gardens, Oldbury, West Midlands B69 3DX2
£105K07/221.11 mi25, Kellner Gardens, Oldbury, West Midlands B69 3DX2
£101K01/231.11 mi23, Kellner Gardens, Oldbury, West Midlands B69 3DX2
£116K06/231.11 miApartment 2, Elwell House, Shropshire Way, West Bromwich, West Midlands B71 1BJ2
£131K09/231.15 miApartment 3, Ridgeacre House, Shropshire Way, West Bromwich, West Midlands B71 1BZ2
£130K09/221.18 mi5, Bromford Road, Oldbury, West Midlands B69 4BH2
£86K03/211.35 mi42, Flash Road, Oldbury, West Midlands B69 4AE2
£69.5K10/211.4 mi105, Fisher Street, Great Bridge, Tipton, West Midlands DY4 7ES2
£110K02/231.41 mi90, Princess Grove, West Bromwich, West Midlands B71 2DS2
£49K05/231.43 mi48, Brickhouse Lane South, Tipton, West Midlands DY4 7HJ2
£80K06/221.43 mi71, Princess Grove, West Bromwich, West Midlands B71 2DS2
£97K07/211.44 mi6, Waterways Drive, Oldbury, West Midlands B69 2EX2
£110K09/221.45 mi5, Barncroft Street, West Bromwich, West Midlands B70 0QJ2
£87.5K06/211.46 mi16, The Moorings, Oldbury, West Midlands B69 2DD2
£95K10/211.55 mi72, Brades Road, Oldbury, West Midlands B69 2FD2
£102K10/211.55 mi72a, Brades Road, Oldbury, West Midlands B69 2FD2
£72K06/211.56 mi78, Peel Way, Tividale, Oldbury, West Midlands B69 3JY2
£100K03/211.56 mi28, Summerton Road, Oldbury, West Midlands B69 2GF2
£95K04/231.57 mi18, Summerton Road, Oldbury, West Midlands B69 2GF2
£101K03/231.57 mi55, Mehdi Road, Oldbury, West Midlands B69 2GE2
£96K12/201.57 mi4, Mehdi Road, Oldbury, West Midlands B69 2GE2
£97K06/231.59 mi39, Harrington Croft, West Bromwich, West Midlands B71 3RJ2
£98K12/201.59 mi95, Harrington Croft, West Bromwich, West Midlands B71 3RJ2
£103K04/211.59 mi73, Harrington Croft, West Bromwich, West Midlands B71 3RJ2
£107K10/211.59 mi67, Harrington Croft, West Bromwich, West Midlands B71 3RJ2

Local Rents

15 rents from £775/mo to £1.2K/mo, average is £900/mo.

RentDateDistanceAddressBeds 
£79512/240.16 miCarters Green, WEST BROMWICH2
£97012/240.32 miVictoria Street, WEST BROMWICH2
£90012/240.32 miHayes Street, West Bromwich2
£82512/240.42 miWest Gate Plaza, West Bromwich2
£90002/250.48 mi-2
£85002/240.53 mi-2
£87512/240.53 mi-2
£95004/250.53 mi-2
£77504/250.53 mi-2
£90012/240.57 miGrafton Road, West Bromwich, West Midlands, B712
£1,20004/250.57 mi-2
£92512/240.58 miMargaret Street, West Bromwich, West Midlands, B70 8LE2
£95012/240.58 miSt. Clements Lane, WEST BROMWICH2
£97512/240.58 miSt. Clements Lane, WEST BROMWICH2
£95004/250.59 mi-2

Local Area Statistics

Population in B70

27,772

Population in West Bromwich

58,705

Town centre distance

0.54 miles away

Nearest school

0.10 miles away

Nearest train station

0.16 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+13%

Sales demand

Balanced market

Capital growth (5yrs)

+33%

Property History

Price changed to £100,000

February 4, 2025

Price changed to £110,000

December 4, 2024

Listed for £120,000

May 17, 2023

Description

  • VACANT POSSESSION +
  • TOP FLOOR +
  • ALLOCATED PARKING +
  • LONG LEASE +
  • A DEED OF VARIATION HAS BEEN EXECUTED ALREADY TO CORRECT THE GROUND RENT INCREASE FREQUENCY .THIS IS NOW FIXED AT £125 PER ANNUM +
  • TWO BEDROOM APARTMENT +

SUMMARY
*NO UPWARD CHAIN* Being an ideal first time purchase or investment opportunity this top floor apartment is positioned on a development located just off the High Street putting this well maintained home in a prime location. Offering a lease 130 years so CALL NOW TO VIEW!

DESCRIPTION
Set within a peaceful residential area within the town centre the locality behind this property is what really makes is something special. Being well maintained, the property has served very well as an investment opportunity for the current owner and has the potential to achieve £750 pcm in rental income. The two bedroom upper floor apartment comes with one allocated parking space and briefly comprises of an entrance hallway with intercom system, lounge/diner, separate fitted kitchen with some integral appliances, two double bedrooms, family bathroom, central heating and a longer than average lease.

Entrance Hall 
Main front door into the property from communal hallway, storage cupboard housing consumer units and radiator.

Lounge 17' 6" x 8' 9" ( 5.33m x 2.67m )
Lounge opens up to the kitchen and has double aspect window to the front and side, TV and telephone point, door to hallway and two radiators,

Kitchen 7' 9" x 7' ( 2.36m x 2.13m )
Fitted kitchen with a range of wall and base units with work surfaces over, mosaic splashback tiling, 1.5 stainless steel sink and drainer with mixer taps, space and plumbing for washing machine, four burner gas hob and electric oven under neath and window to the front.

Bedroom One 13' 7" x 8' 2" ( 4.14m x 2.49m )
Window to the front and radiator.

Bedroom Two 13' 8" max x 5' 10" max ( 4.17m max x 1.78m max )
Window to the front, radiator and door to hallway.

Bathroom 
Fitted panel bath and shower over shower curtain rail, ceramic pedestal wash hand basin with chrome hot and cold taps, low level WC and radiator,

Agents Note 
A DEED OF VARIATION HAS BEEN EXECUTED ALREADY TO CORRECT THE GROUND RENT INCREASE FREQUENCY .THIS IS NOW FIXED AT £125 PER ANNUM

We currently hold lease details as displayed above, should you require 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: Connells 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: Connells has not sought to verify the legal title of the property and the buyers must obtain verification from their solicitor.

Agent Details

Connells, West Bromwich

0121 387 6299

Next Steps?

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