2 Bed Flat, Refurb/BRRR, Stevenston, KA20 3LW, £47,000

Caledonian Road, Stevenston, Ayrshire, KA20 3LW - 2 years ago

Under Offer
Refurb/BRRR
ROI: 9%
~68 m²
+3 photos

ValuationOvervalued

Sold Prices£35K - £105K

 

 

Square Metres

~68.11 m²

Value Estimate

£39,987

 

 

End Value (After Refurb)

£39,999

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£11,750

Stamp Duty & Legal Fees

£2,610

Refurb Costs

£26,658

Bridging Loan Interest

£1,234

Total Cash In

£44,002

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£39,999

Mortgage (After Refinance)

£29,999

Mortgage LTV

75%

Cash Left In

£44,002

Equity

£10,000

Rent Range

£450 - £825

Rent Estimate

£590

Running Costs/mo

£263

Cashflow/mo

£327

Cashflow/yr

£3,924

ROI

9%

Gross Yield

15%

Local Sold Prices

34 sold prices from £35K to £105K, average is £57.2K.

PriceDateDistanceAddressBeds 
£77K01/210.06 mi37, Shore Road, Stevenston, Ayr KA20 3LA2
£70K04/210.07 mi48, Ardoch Crescent, Stevenston, Ayrshire KA20 3PP2
£66.1K12/210.1 mi13, Morris Moodie Avenue, Stevenston, Ayrshire KA20 3NW2
£37K05/210.1 mi42, Morris Moodie Avenue, Stevenston, Ayrshire KA20 3NW2
£45K10/210.1 mi50, Morris Moodie Avenue, Stevenston, Ayrshire KA20 3NW2
£71K02/210.15 mi12, Garven Road, Stevenston, Ayr KA20 3NX2
£58K12/210.18 mi16a, Station Road, Stevenston, Ayrshire KA20 3NL2
£50K11/200.36 mi4, Moorpark Road West, Stevenston KA20 3HU2
£105K10/210.38 mi12, West Park Court, Moorpark Road West, Stevenston, Ayrshire KA20 3JU2
£57K12/200.64 mi87a, Boglemart Street, Stevenston, Ayr KA20 3JN2
£50K11/210.65 mi13, Glencairn Street, Stevenston, Ayrshire KA20 3BE2
£50.6K07/210.67 mi2, Glencairn Terrace, Stevenston, Ayrshire KA20 3BG2
£66.5K08/210.67 mi8, Glencairn Street, Stevenston, Ayrshire KA20 3BZ2
£50K05/210.67 mi6, Glencairn Street, Stevenston, Ayrshire KA20 3BZ2
£63K02/210.7 mi12, Millhill Road, Stevenston, Ayrshire KA20 3ET2
£78.9K10/210.71 mi4d, High Road, Stevenston, Ayrshire KA20 3DN2
£55K09/210.72 mi30, Morrison Avenue, Stevenston, Ayrshire KA20 4ET2
£57.3K04/210.74 mi45, Hayocks Road, Stevenston, Ayrshire KA20 4DF2
£40K10/210.78 mi103, Glencairn Street, Stevenston, Ayrshire KA20 3BL2
£38K04/210.78 mi99, Glencairn Street, Stevenston, Ayrshire KA20 3BL2
£72K08/210.78 mi26, Hayocks Road, Stevenston KA20 4DG2
£62K07/210.81 mi50, Hayocks Road, Stevenston, Ayrshire KA20 4DQ2
£40K10/210.82 mi35, Mcgregor Avenue, Stevenston, Ayrshire KA20 4BA2
£35K10/210.82 mi49, Mcgregor Avenue, Stevenston, Ayrshire KA20 4BA2
£40K02/210.82 mi59, Mcgregor Avenue, Stevenston, Ayr KA20 4BA2
£60K09/210.82 mi78, Glencairn Street, Stevenston, Ayrshire KA20 3BT2
£65K09/210.82 mi82, Glencairn Street, Stevenston, Ayrshire KA20 3BT2
£57.2K08/210.82 mi113, Mcgregor Avenue, Stevenston, Ayrshire KA20 4BJ2
£54K09/210.86 mi30, Sinclair Street, Stevenston, Ayrshire KA20 4AP2
£65K11/210.86 mi21, Sinclair Street, Stevenston, Ayrshire KA20 4AP2
£54K12/210.86 mi33, Sinclair Street, Stevenston, Ayrshire KA20 4AP2
£75.1K06/210.87 mi44, Sinclair Street, Stevenston, Ayrshire KA20 4AN2
£50K12/200.87 mi45, Sinclair Street, Stevenston, Ayr KA20 4AN2
£72K10/210.94 mi2d, Tiree Place, Stevenston, Ayrshire KA20 3DH2

Local Rents

17 rents from £450/mo to £825/mo, average is £600/mo.

RentDateDistanceAddressBeds 
£45001/240.07 miArdoch Crescent, Stevenston, Ayrshire, KA202
£47505/240.08 miCaledonian Road, Stevenston, North Ayrshire, KA202
£60008/240.1 mi-2
£60008/240.1 mi-2
£60007/240.1 miShore Road, Stevenston, KA202
£82505/240.1 mi-2
£82505/240.1 mi-2
£60001/240.1 mi11 Morris Moodie Avenue, Stevenston, Ayrshire, KA202
£57504/240.1 miMorris Moodie Avenue, Stevenston, Ayrshire, KA202
£50007/240.27 miMoorpark Road East, Stevenston, Ayrshire, KA202
£47509/230.42 mi-2
£47509/230.42 mi-2
£47509/230.55 mi-2
£47509/230.55 mi-2
£75006/240.59 miAilsa Drive, Stevenston, KA202
£75008/240.59 mi-2
£75008/240.59 mi-2

Local Area Statistics

Population in Stevenston

9,438

Town centre distance

0.57 miles away

Nearest school

0.10 miles away

Nearest train station

0.10 miles away

 

 

Rental growth (12m)

-2%

Sales demand

Seller's market

Capital growth (5yrs)

+41%

Property History

Listed for £47,000

July 30, 2023

Description

  • Popular location +
  • Traditional features +
  • On street parking +
  • Close to the beach +
  • GCH +

PLEASE USE THE REQUEST DETAILS BUTTON FOR FURTHER DETAILS

Bright and spacious 2 BED FIRST FLOOR FLAT situated in a popular area of Stevenston within short walking distance to the local town, beach and transport links. The property is entered through a communal hall and comprises of Reception Hall, a front facing lounge with bay window, rear facing fitted kitchen, 1 double bedroom to the front and 1 double bedroom to the rear, bathroom with sink and bath and separate toilet.

The property requires a degree of renovation and modernisation and benefits from gas central heating and double glazing, On street parking. Shared rear garden. Ideally suited to a wide range of buyers from first time buyers, purchasers looking to downsize or Investors.

The coastal town of Stevenston offers many amenities including local shops, supermarket, retail park, primary and secondary schooling, excellent beaches, train station, library etc. and also
has excellent travel links to all coastal towns and Glasgow.

Council Tax Band: A
Home Report £47,000

Home Report link:-

DISCLAIMER:
While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly. Any measurements indicated are supplied for guidance only and as such must be considered incorrect.
This property is being sold as seen in its current condition. No warranty is given to any purchaser in respect of the existence or condition of any systems or services, including the heating system. No testing of any systems or services has been carried out or will be carried out prior to sale. Any potential purchasers require to accept these conditions of sale. We strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase. These particulars do not constitute or form part of any offer or contract.

Agent Details

The Property Box, Ayr

01292 431478

Next Steps?

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