2 Bed Flat, Single Let, Oldbury, B69 2GF, £110,000

17 Summerton Road, Oldbury, West Midlands, B69 2GF - 9 views - a year ago

Sold STC

Leasehold

BTL

ROI: 10%

~52 m²

+2 photos

ValuationOvervalued

Sold Prices	£50K - £136K
Sold Prices/m²	£943/m² - £4.2K/m²

Square Metres	~51.50 m²
Price/m²	£2.1K/m²
Value Estimate	£90,363£90,363

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£27,500£27,500
Stamp Duty & Legal Fees	£4,500£4,500
Total Cash In	£32,000£32,000

Cash Out
Rent Range	£780 - £2,200£780 - £2,200
Rent Estimate	£795
Running Costs/mo	£523£523
Cashflow/mo	£272£272
Cashflow/yr	£3,267£3,267
ROI	10%10%
Gross Yield	9%9%

Local Sold Prices

50 sold prices from £50K to £136K, average is £93.8K. £943/m² to £4.2K/m², average is £1.7K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£100K	03/21	0 mi	28, Summerton Road, Oldbury, West Midlands B69 2GF	£1,818	55	2	Flat
£95K	04/23	0.01 mi	18, Summerton Road, Oldbury, West Midlands B69 2GF	£1,759	54	2	Flat
£101K	03/23	0.04 mi	55, Mehdi Road, Oldbury, West Midlands B69 2GE	£1,683	60	2	Flat
£96K	12/20	0.04 mi	4, Mehdi Road, Oldbury, West Midlands B69 2GE	£1,315	73	2	Flat
£95K	10/21	0.08 mi	72, Brades Road, Oldbury, West Midlands B69 2FD	£1,696	56	2	Flat
£102K	10/21	0.08 mi	72a, Brades Road, Oldbury, West Midlands B69 2FD	£1,308	78	2	Flat
£87.5K	06/21	0.17 mi	16, The Moorings, Oldbury, West Midlands B69 2DD	-	-	2	Flat
£97K	07/21	0.18 mi	6, Waterways Drive, Oldbury, West Midlands B69 2EX	£2,109	46	2	Flat
£112K	11/22	0.22 mi	117, Ashtree Road, Tividale, Oldbury, West Midlands B69 2HB	-	-	2	Flat
£127K	09/22	0.31 mi	29, New Birmingham Road, Tividale, Oldbury, West Midlands B69 2JJ	-	-	2	Flat
£72K	06/21	0.46 mi	78, Peel Way, Tividale, Oldbury, West Midlands B69 3JY	-	-	2	Flat
£130K	09/22	0.67 mi	5, Bromford Road, Oldbury, West Midlands B69 4BH	£1,912	68	2	Flat
£105K	07/22	0.71 mi	25, Kellner Gardens, Oldbury, West Midlands B69 3DX	£1,875	56	2	Flat
£101K	01/23	0.71 mi	23, Kellner Gardens, Oldbury, West Midlands B69 3DX	£1,772	57	2	Flat
£122.5K	01/21	0.72 mi	6, Kellner Gardens, Oldbury, West Midlands B69 3DX	£1,750	70	2	Flat
£80K	12/22	0.79 mi	30, Blue Rock Place, Tividale, Oldbury, West Midlands B69 1PB	£1,429	56	2	Flat
£53.5K	02/21	0.82 mi	Flat 11, Radnall House, Wallace Close, Oldbury, West Midlands B69 1HN	-	-	2	Flat
£86K	03/21	0.86 mi	42, Flash Road, Oldbury, West Midlands B69 4AE	£1,599	54	2	Flat
£85K	11/22	0.95 mi	20, Martley Road, Oldbury, West Midlands B69 1DZ	£1,349	63	2	Flat
£115K	03/23	1.03 mi	21, The Pineways, Oldbury, West Midlands B69 1JL	£2,300	50	2	Flat
£90K	11/23	1.08 mi	28, Lissimore Drive, Tipton, West Midlands DY4 7SX	£1,607	56	2	Flat
£118.5K	10/22	1.09 mi	93, Regent Road, Tividale, Oldbury, West Midlands B69 1TS	-	-	2	Flat
£58.8K	02/21	1.12 mi	18, Portway Road, Rowley Regis, West Midlands B65 9DB	£963	61	2	Flat
£77K	08/22	1.17 mi	19, Oakthorpe Gardens, Tividale, Oldbury, West Midlands B69 2LE	-	-	2	Flat
£105K	08/22	1.2 mi	55, Oakthorpe Gardens, Tividale, Oldbury, West Midlands B69 2LF	-	-	2	Flat
£90K	02/21	1.3 mi	47, Anchor Drive, Tipton, West Midlands DY4 7RD	£1,500	60	2	Flat
£87.5K	11/20	1.3 mi	55, Anchor Drive, Tipton, West Midlands DY4 7RD	£1,591	55	2	Flat
£102K	05/23	1.3 mi	63, Anchor Drive, Tipton, West Midlands DY4 7RD	£1,727	59	2	Flat
£92K	10/21	1.3 mi	125, Anchor Drive, Tipton, West Midlands DY4 7RD	£1,643	56	2	Flat
£92.5K	03/21	1.3 mi	103, Anchor Drive, Tipton, West Midlands DY4 7RD	£1,402	66	2	Flat
£87.5K	11/20	1.3 mi	75, Anchor Drive, Tipton, West Midlands DY4 7RD	£4,167	21	2	Flat
£86K	06/21	1.3 mi	101, Anchor Drive, Tipton, West Midlands DY4 7RD	£1,365	63	2	Flat
£100K	05/23	1.3 mi	65, Anchor Drive, Tipton, West Midlands DY4 7RD	£2,632	38	2	Flat
£111K	08/23	1.37 mi	34, Tudor Street, Tipton, West Midlands DY4 8UT	-	-	2	Flat
£69.5K	10/21	1.41 mi	105, Fisher Street, Great Bridge, Tipton, West Midlands DY4 7ES	£1,241	56	2	Flat
£92.5K	12/22	1.45 mi	18, Titford Lane, Rowley Regis, West Midlands B65 0PT	£2,256	41	2	Flat
£78K	09/23	1.45 mi	61, Tudor Court, Tipton, West Midlands DY4 8UX	£1,333	59	2	Flat
£50K	02/21	1.46 mi	72, Carnegie Avenue, Dudley Port, Tipton, West Midlands DY4 8SX	£943	53	2	Flat
£70K	12/20	1.46 mi	18, Titford Lane, Rowley Regis, West Midlands B65 0PT	£1,707	41	2	Flat
£122.5K	09/22	1.48 mi	14, Ashwood Close, Oldbury, West Midlands B69 4SD	£1,974	62	2	Flat
£73K	07/22	1.48 mi	52, Winchester Close, Rowley Regis, West Midlands B65 0PW	£1,721	42	2	Flat
£70K	12/20	1.49 mi	48, Winchester Close, Rowley Regis, West Midlands B65 0PW	£1,707	41	2	Flat
£80K	06/22	1.49 mi	55, Winchester Close, Rowley Regis, West Midlands B65 0PW	£1,778	45	2	Flat
£114K	04/21	1.5 mi	35, Ashwood Close, Oldbury, West Midlands B69 4SD	£1,606	71	2	Flat
£117.5K	05/23	1.5 mi	36, Ashwood Close, Oldbury, West Midlands B69 4SD	£1,567	75	2	Flat
£136K	02/23	1.5 mi	101, Durham Road, Rowley Regis, West Midlands B65 0SH	£2,776	49	2	Flat
£105K	11/22	1.5 mi	2, Doughty Close, Tipton, West Midlands DY4 7AJ	-	-	2	Flat
£122K	08/22	1.51 mi	387, Titford Road, Oldbury, West Midlands B69 4QW	-	-	2	Flat
£92K	11/22	1.51 mi	77, Durham Road, Rowley Regis, West Midlands B65 0SH	£1,878	49	2	Flat
£70K	07/22	1.51 mi	21, Durham Road, Rowley Regis, West Midlands B65 0SH	£1,370	51	2	Flat

Local Rents

23 rents from £780/mo to £2.2K/mo, average is £900/mo.

Rent	Date	Distance	Address	Beds	Type
£895	12/24	0.04 mi	Mehdi Road, Oldbury, Birmingham	2	Flat
£895	12/24	0.04 mi	Mehdi Road, Oldbury, Birmingham	2	Flat
£925	01/25	0.11 mi	-	2	Terraced House
£900	01/24	0.11 mi	-	2	Flat
£900	01/24	0.11 mi	-	2	Flat
£900	12/24	0.16 mi	-	2	Flat
£950	02/25	0.16 mi	-	2	Flat
£1,050	12/24	0.18 mi	-	2	Semi-Detached House
£900	01/24	0.18 mi	-	2	Flat
£900	03/25	0.18 mi	-	2	Flat
£1,025	04/25	0.18 mi	-	2	Terraced House
£825	12/24	0.19 mi	Waterways Drive, Oldbury, West Midlands, B69	2	Flat
£800	02/25	0.19 mi	-	2	Terraced House
£780	04/25	0.22 mi	-	2	Flat
£1,050	12/24	0.22 mi	-	2	Semi-Detached House
£795	03/24	0.22 mi	-	2	Flat
£875	12/24	0.28 mi	St. James Road, Oldbury	2	Detached House
£2,200	03/25	0.29 mi	-	2	Flat
£975	02/25	0.31 mi	-	2	Terraced House
£795	12/24	0.51 mi	Cecil Drive, Tividale, OLDBURY	2	Flat
£875	12/24	0.51 mi	Cecil Drive, Tividale, West Midlands, B69 3lb	2	Detached House
£800	12/24	0.55 mi	Dudley Road East, Tividale, Oldbury, West Midlands, B69	2	Flat
£950	12/24	0.58 mi	-	2	Semi-Detached House

Local Area Statistics

Population in B69	29,01129,011
Population in Oldbury	59,93559,935
Town centre distance	1.30 miles away1.30 miles away
Nearest school	0.30 miles away0.30 miles away
Nearest train station	0.81 miles away0.81 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+16%+16%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+28%+28%

Property History

Listed for £110,000

December 21, 2023

Sold for £111,500

2007

Floor Plans

Description

ALLOCATED PARKING +
OPEN PLAN LIVING SPACE +
FITTED KITCHEN +
BATHROOM +
CLOSE TO LOCAL AMENITIES & TRANSPORT LINKS +
EPC RATING: B +
COUNCIL TAX BAND: A +

Innovate Estate Agents are pleased to present this TWO BEDROOM FIRST FLOOR APARTMENT situated in Oldbury! The property comprises of ALLOCATED PARKING, OPEN PLAN LIVING SPACE with FITTED KITCHEN/LIVING ROOM, bathroom, double glazing and electric heating throughout! Thanks to its sought after location the property is only a stone throw away from a range of day to day amenities, transport links such as Oldbury Green Retail Park, Sainsburys Supermarket, Sandwell and Dudley Train Station and M5 (Junction 2). EPC Rating: B. Council Tax Band: A. Admin Fees May Apply.

Agent Details

Innovate Estate Agents, Oldbury

0121 387 6649

Next Steps?

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

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