2 Bed Flat, Refurb/BRRR, Leeds, LS16 6ED, £165,000

14 Grange Wood Court, West Park, Leeds, LS16 6ED - 2 years ago

Leasehold
Refurb/BRRR
ROI: 3%
68 m²
+5 photos

ValuationOvervalued

Sold Prices£80K - £240K
Sold Prices/m²£1.3K/m² - £2.9K/m²

 

 

Square Metres

68 m²
Price/m²£2.4K/m²

Value Estimate

£151,692

 

 

End Value (After Refurb)

£211,393

Uplift in Value

+28%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£41,250

Stamp Duty & Legal Fees

£9,450

Refurb Costs

£26,908

Bridging Loan Interest

£4,331

Total Cash In

£83,689

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£211,393

Mortgage (After Refinance)

£158,545

Mortgage LTV

75%

Cash Released

£34,795

Cash Left In

£48,894

Equity

£52,848

Rent Range

£725 - £1,400

Rent Estimate

£1,095

Running Costs/mo

£900

Cashflow/mo

£195

Cashflow/yr

£2,345

ROI

3%

Gross Yield

8%

Local Sold Prices

50 sold prices from £80K to £240K, average is £146.8K. £1.3K/m² to £2.9K/m², average is £2.3K/m².

PriceDateDistanceAddressBeds 
£158K01/210.01 mi11, Grange Wood Court, Leeds, West Yorkshire LS16 6ED2
£175K12/230.04 mi299, Otley Road, Leeds, West Yorkshire LS16 6EY2
£138K09/210.32 mi28, Weetwood House Court, Leeds, West Yorkshire LS16 5AF2
£165K03/210.37 miFlat 2, Lime Tree Court, West Park Drive, Leeds, West Yorkshire LS16 5BL2
£165K03/240.4 mi12, Foxhill Court, Leeds, West Yorkshire LS16 5PL2
£185K05/230.43 mi44, Foxhill Court, Leeds, West Yorkshire LS16 5PN2
£163K01/210.43 mi45, Foxhill Court, Leeds, West Yorkshire LS16 5PN2
£171K04/240.43 mi45, Foxhill Court, Leeds, West Yorkshire LS16 5PN2
£160K03/210.44 miFlat 11, Arncliffe Court, Arncliffe Road, Leeds, West Yorkshire LS16 5JE2
£126K07/210.45 mi20, Old Farm Close, Leeds, West Yorkshire LS16 5DG2
£114K08/210.56 mi193, Iveson Drive, Leeds, West Yorkshire LS16 6NY2
£210K11/230.6 mi93, Carisbrooke Road, Leeds, West Yorkshire LS16 5RX2
£187K10/200.64 mi14, Carisbrooke Road, Leeds, West Yorkshire LS16 5RU2
£211K02/240.64 mi31, Carisbrooke Road, Leeds, West Yorkshire LS16 5RU2
£207.5K08/230.64 mi52, Carisbrooke Road, Leeds, West Yorkshire LS16 5RU2
£182.5K02/210.64 mi72, Carisbrooke Road, Leeds, West Yorkshire LS16 5RU2
£220K06/210.64 mi31, Carisbrooke Road, Leeds, West Yorkshire LS16 5RU2
£149.5K07/210.65 mi19, Lawns Hall Close, Leeds, West Yorkshire LS16 8HY2
£140K07/210.65 mi44, Lawns Hall Close, Leeds, West Yorkshire LS16 8HY2
£136K10/200.65 mi34, Lawns Hall Close, Leeds, West Yorkshire LS16 8HY2
£152K11/230.65 mi49, Lawns Hall Close, Leeds, West Yorkshire LS16 8HY2
£170K10/220.66 mi24, Lawns Hall Close, Leeds, West Yorkshire LS16 8HY2
£115K05/240.66 mi33, Fillingfir Road, Leeds, West Yorkshire LS16 5EE2
£104K10/220.66 mi49, Fillingfir Road, Leeds, West Yorkshire LS16 5EE2
£200K05/230.66 miApartment 2, The Lodge, Harrowby Road, Leeds, West Yorkshire LS16 5HN2
£84K01/210.67 mi17, Magdalene Close, Leeds, West Yorkshire LS16 6QJ2
£80K05/210.67 mi1, Magdalene Close, Leeds, West Yorkshire LS16 6QJ2
£80K07/210.67 mi9, Magdalene Close, Leeds, West Yorkshire LS16 6QJ2
£240K11/220.67 mi56, Carisbrooke Road, Leeds, West Yorkshire LS16 5RU2
£222.5K11/220.67 mi43, Carisbrooke Road, Leeds, West Yorkshire LS16 5RU2
£120K01/210.74 mi74, New Adel Lane, Leeds, West Yorkshire LS16 6AP2
£160K11/230.74 mi26, New Adel Lane, Leeds, West Yorkshire LS16 6AN2
£135K11/200.74 mi54, New Adel Lane, Leeds, West Yorkshire LS16 6AN2
£150K06/240.74 mi30, New Adel Lane, Leeds, West Yorkshire LS16 6AN2
£148.5K12/230.74 mi16, New Adel Lane, Leeds, West Yorkshire LS16 6AN2
£130K09/230.74 mi56, New Adel Lane, Leeds, West Yorkshire LS16 6AN2
£230K06/210.75 mi7, Glendower Park, Adel, Leeds, West Yorkshire LS16 8HA2
£110K05/230.76 mi2, Otterburn Gardens, Leeds, West Yorkshire LS16 6AS2
£145K05/210.76 mi19, Otterburn Gardens, Leeds, West Yorkshire LS16 6AS2
£125K10/210.77 mi7, Rothbury Gardens, Leeds, West Yorkshire LS16 6AW2
£113K03/210.78 mi3, Redesdale Gardens, Leeds, West Yorkshire LS16 6AT2
£113K03/210.78 mi3, Redesdale Gardens, Leeds, West Yorkshire LS16 6AT2
£139K07/210.78 mi371, Otley Road, Leeds, West Yorkshire LS16 6AL2
£115K03/210.78 mi397, Otley Road, Leeds, West Yorkshire LS16 6AL2
£144K05/230.78 mi389, Otley Road, Leeds, West Yorkshire LS16 6AL2
£135.5K10/200.78 mi87, Redesdale Gardens, Leeds, West Yorkshire LS16 6AY2
£137.5K11/200.78 mi59, Redesdale Gardens, Leeds, West Yorkshire LS16 6AY2
£160K12/220.79 mi71, Redesdale Gardens, Adel, Leeds, West Yorkshire LS16 6AY2
£119K12/220.8 mi60, Redesdale Gardens, Adel, Leeds, West Yorkshire LS16 6AU2
£137.5K02/210.8 mi14, Redesdale Gardens, Adel, Leeds, West Yorkshire LS16 6AU2

Local Rents

40 rents from £725/mo to £1.4K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£1,19505/240.04 mi-2
£1,00005/240.06 mi-2
£1,10003/250.29 mi-2
£72509/230.3 mi-2
£80009/240.3 mi-2
£94506/240.32 miWeetwood House Court, Weetwood, Leeds, LS162
£87502/240.37 mi-2
£94905/240.37 mi-2
£84903/250.37 mi-2
£89505/240.4 miFoxhill Court, LEEDS2
£1,10012/240.4 mi-2
£1,10005/240.4 miArncliffe Road, Leeds, LS162
£88405/240.41 miFoxhill Court, Weetwood, Leeds, LS162
£97505/240.41 mi-2
£97505/240.41 mi-2
£99502/250.41 mi-2
£1,40006/240.42 miArncliffe Road, Leeds, LS162
£1,40012/240.42 mi-2
£1,40012/240.42 mi-2
£1,20002/250.42 mi-2
£1,30005/240.42 mi-2
£89505/240.43 miFoxhill Court, Weetwood2
£1,10006/240.43 mi1 Kepstorn Court2
£1,10005/240.44 miArncliffe Road, Leeds, West Yorkshire, LS162
£1,00005/240.44 miCastleton Court, 3 Arncliffe Road, West Park, Leeds, LS162
£1,30012/240.49 mi-2
£1,30005/240.49 miWelburn Drive, Leeds, LS162
£1,20005/240.5 miLuttrell Gardens, Lawnswood, Leeds, LS16 6LY2
£99502/250.51 mi-2
£1,20005/240.52 miBeech House, Bardon Gardens, Weetwood Lane, Leeds, LS16 5TZ2
£1,25004/240.52 mi-2
£1,25003/250.52 mi-2
£1,22505/240.55 miQuarry Dene, Weetwood, Leeds, LS162
£82505/240.57 miLatchmere Drive, Leeds, West Yorkshire, LS162
£1,30006/240.58 miThe Hollies, Weetwood Lane, Weetwood, Leeds, LS162
£1,38605/240.6 mi84 Carisbrooke Road, LS16 5RX2
£1,25205/240.6 mi84 Carisbrooke Road, LS16 5RX2
£1,20005/240.61 miWoodlands Grove, Adel, Leeds, West Yorkshire.2
£1,17505/240.61 miQuarry Dene, Weetwood, Leeds, LS162
£1,10005/240.61 miQuarry Dene, Weetwood, Leeds, LS162

Local Area Statistics

Population in LS16

35,198

Population in Leeds

635,166

Town centre distance

3.08 miles away

Nearest school

0.20 miles away

Nearest train station

1.46 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+38%

Sales demand

Seller's market

Capital growth (5yrs)

+20%

Property History

Listed for £165,000

August 21, 2023

Floor Plans

Description

  • Prime location within West Park +
  • Two double bedrooms, large sitting room and separate kitchen +
  • First floor apartment +
  • Large sitting room with bay window +
  • Ready for updating throughout +
  • Lovley leafy outlook +
  • Garage +
  • No Chain! +

A first floor two bedroom apartment located on this attractive development conveniently placed for local amenities and the Ring Road. Communal gardens and single garage. No onward chain.

Dacres are delighted to market this first floor apartment. The Property offers well-proportioned accommodation in this popular and convenient development. The accommodation briefly comprises: - large entrance hall with storage cupboard, spacious lounge with bay window and further side window, with space for dining table also, breakfast kitchen with fitted cupboards and ample worktop with space for a table, two double bedrooms with built in wardrobes, bathroom and separate wc. Outside the property has a single garage and shares a communal garden. The apartment is ready for some modernisation and provides the perfect opportunity for buyers to put their own stamp on the property; it presents a blank canvas.

The property is conveniently situated close to a number of local amenities with regular bus services enabling access into Leeds City centre and surrounding areas. The outer ring road is also close by providing access to the business centres situated further afield including Bradford, Harrogate and York and the national motorway networks (M1, M62 and A1). There is a number of recreational facilities within close proximity including Golden Acre Park and The Village Hotel and Leisure Club. (This property is owned by a Dacres member of staff).

Lease Information - The vendor advises;
Lease Term 999 years from 1972
Ground rent £30.00 per annum
Service Charge £1560 per annum
The Lease states it can not be sub-let or assigned to anyone who does not take a share in the Management Company or becomes the title owner - discretion with the management company.

Mains electricity, water, drainage and gas are installed. Domestic heating and hot water are from a gas fired boiler. Garage and onstreet parking.

The vendor is an employee of Dacre, Son & Hartley.

Agent Details

Dacre Son & Hartley, Weetwood

0113 519 0832

Next Steps?

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