2 Bed Flat, Refurb/BRRR, Birmingham, B16 8DP, £120,000

Rodney Close, Birmingham, B16 8DP - 1 views - a year ago

Sold STC

Leasehold

BTL

Refurb/BRRR

ROI: 7%

~71 m²

+3 photos

ValuationFair Value

Sold Prices	£90K - £500K
Sold Prices/m²	£1.3K/m² - £4.5K/m²

Square Metres	~70.50 m²
Price/m²	£1.7K/m²
Value Estimate	£121,200£121,200

End Value (After Refurb)	£183,628£183,628
Uplift in Value	+53%+53%

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£30,000£30,000
Stamp Duty & Legal Fees	£7,200£7,200
Refurb Costs	£27,897£27,897
Bridging Loan Interest	£3,150£3,150
Total Cash In	£69,997£69,997

Cash Out
Monetisation	FlipRefinance & RentFlip
Estimated Sale Price	£183,628£183,628
Agent Fees (1%)	£1,836£1,836
Bridging Loan	£90,000£90,000
Bridging Loan Interest	£3,150£3,150
Flip Profit	£21,795£21,795

Local Sold Prices

20 sold prices from £90K to £500K, average is £181K. £1.3K/m² to £4.5K/m², average is £2.5K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£153.5K	06/21	0.2 mi	17, Ashton Croft, Birmingham, West Midlands B16 8EX	£2,741	56	2	Flat
£125K	12/21	0.2 mi	156, Kilby Avenue, Birmingham, West Midlands B16 8EW	£1,894	66	2	Flat
£103K	11/20	0.2 mi	130, Kilby Avenue, Birmingham, West Midlands B16 8EW	£1,256	82	2	Flat
£180K	08/21	0.26 mi	9, Bellcroft, Birmingham, West Midlands B16 8EJ	£3,158	57	2	Flat
£182K	12/22	0.59 mi	14, Civic Close, Birmingham, West Midlands B1 2NT	£2,193	83	2	Flat
£100K	07/21	0.62 mi	Flat 2, Norton Tower, Civic Close, Birmingham, West Midlands B1 2NN	£1,724	58	2	Flat
£290K	10/22	0.66 mi	Penthouse 9, Amazon Lofts, Tenby Street, Birmingham, West Midlands B1 3AJ	-	-	2	Flat
£90K	06/21	0.66 mi	Flat 10, Crescent Tower, Brindley Drive, Birmingham, West Midlands B1 2NJ	-	-	2	Flat
£235K	07/21	0.73 mi	Apartment 34, Friday Bridge, Berkley Street, Birmingham, West Midlands B1 2LB	-	-	2	Flat
£105K	08/22	0.81 mi	39, Bellefield Road, Birmingham, West Midlands B18 4EL	£1,280	82	2	Flat
£290K	09/21	0.87 mi	123 Royal Arch Apartments, The Mailbox, Wharfside Street, Birmingham, West Midlands B1 1RG	-	-	2	Flat
£202.5K	01/23	0.89 mi	Apartment 8, Carpathian Court, Chamberlain Court, Hockley, Birmingham, West Midlands B18 6JP	-	-	2	Flat
£208K	05/21	0.89 mi	Apartment 34, Carpathian Court, Chamberlain Court, Hockley, Birmingham, West Midlands B18 6JP	-	-	2	Flat
£180K	04/22	0.89 mi	Apartment 22, Carpathian Court, Chamberlain Court, Hockley, Birmingham, West Midlands B18 6JP	-	-	2	Flat
£255.5K	02/21	0.9 mi	Flat 5, Westfield Hall, Hagley Road, Birmingham, West Midlands B16 9LG	-	-	2	Flat
£500K	02/21	0.9 mi	28, Wheeleys Road, Edgbaston, Birmingham, West Midlands B15 2LF	£4,545	110	2	Flat
£500K	02/21	0.9 mi	28, Wheeleys Road, Edgbaston, Birmingham, West Midlands B15 2LF	£4,545	110	2	Flat
£172K	12/20	0.9 mi	Flat 17, Edencroft, Wheeleys Road, Edgbaston, Birmingham, West Midlands B15 2LW	-	-	2	Flat
£176K	10/22	0.9 mi	Flat 15, Edencroft, Wheeleys Road, Edgbaston, Birmingham, West Midlands B15 2LW	-	-	2	Flat
£244K	03/21	0.97 mi	31d, Northwood Street, Birmingham, West Midlands B3 1TX	£2,905	84	2	Flat

Local Rents

50 rents from £700/mo to £2.8K/mo, average is £1.2K/mo.

Rent	Date	Distance	Address	Beds	Type
£1,200	03/25	0.11 mi	-	2	Flat
£950	12/24	0.18 mi	Lighthorne Avenue, Birmingham, B16	2	Flat
£950	12/24	0.2 mi	Ashton Croft, Birmingham, West Midlands, B16	2	Flat
£700	03/25	0.21 mi	-	2	Flat
£900	03/25	0.21 mi	-	2	Flat
£1,600	04/25	0.24 mi	-	2	Terraced House
£2,500	04/25	0.24 mi	-	2	Flat
£1,500	12/24	0.26 mi	South Loop Green, Birmingham, B16	2	Flat
£1,150	04/25	0.26 mi	-	2	Terraced House
£1,300	12/24	0.26 mi	-	2	Flat
£1,200	04/25	0.26 mi	-	2	Flat
£1,075	12/24	0.27 mi	Bellcroft, Birmingham, B16	2	Flat
£1,250	12/24	0.27 mi	Browning Street, Birmingham, B16	2	Flat
£950	12/24	0.27 mi	Bellcroft, Edgbaston, Birmingham, B16	2	Flat
£1,200	12/24	0.27 mi	Watermarque, 100 Browning Street	2	Flat
£1,300	12/24	0.27 mi	King Edwards Wharf	2	Flat
£1,450	12/24	0.27 mi	King Edwards Wharf, 25 Sheepcote Street, Brindley Place	2	Flat
£1,250	12/24	0.27 mi	King Edwards Wharf, Sheepcote Street	2	Flat
£1,050	12/24	0.28 mi	Bellcroft, Birmingham, B16	2	Flat
£1,400	12/24	0.29 mi	Waterside Court, 101 St. Vincent Street, Birmingham	2	Flat
£975	12/24	0.3 mi	128 Morville Street, Birmingham	2	Flat
£1,150	12/24	0.3 mi	Waterside Court, 101 St. Vincent Street, B16 8EY	2	Flat
£1,050	12/24	0.31 mi	Watermarque, 100 Browning Street, Birmingham, B16 8GZ, B16 8GZ	2	Flat
£1,240	12/24	0.31 mi	-	2	Flat
£1,495	02/24	0.31 mi	-	2	Flat
£1,125	02/25	0.32 mi	-	2	Flat
£1,450	04/25	0.32 mi	-	2	Flat
£1,000	04/25	0.32 mi	-	2	Flat
£1,150	12/24	0.32 mi	Sheepcote Street, Birmingham, B16	2	Flat
£1,200	12/24	0.32 mi	Sheepcote Street, Birmingham, B16	2	Flat
£1,290	12/24	0.32 mi	-	2	Flat
£1,290	12/24	0.32 mi	-	2	Flat
£1,290	12/24	0.32 mi	-	2	Flat
£1,250	01/25	0.32 mi	-	2	Flat
£1,250	01/25	0.32 mi	-	2	Flat
£1,350	12/24	0.32 mi	Embankment, St. Vincent Street, Birmingham, B16	2	Flat
£1,150	12/24	0.33 mi	Cawdor Crescent, Edgbaston, B16	2	Flat
£1,150	12/24	0.33 mi	40 Ryland Street, B16	2	Flat
£1,150	12/24	0.33 mi	40 Ryland Street, B16	2	Flat
£980	12/24	0.34 mi	Arden Grove, Ladywood, Birmingham, West Midlands, B16 8HQ	2	Flat
£1,000	12/24	0.34 mi	Blue Apartments, Broadway 19 Francis Road, Birmingham, B16	2	Flat
£1,450	02/24	0.34 mi	-	2	Flat
£1,100	03/24	0.34 mi	-	2	Flat
£1,200	12/24	0.34 mi	-	2	Flat
£1,450	04/25	0.34 mi	-	2	Flat
£1,200	12/24	0.34 mi	Ryland Street, Birmingham, B16	2	Flat
£2,800	02/25	0.34 mi	-	2	Flat
£1,050	12/24	0.34 mi	-	2	Flat
£1,200	12/24	0.34 mi	King Edwards Wharf, Sheepcote Street, B16 8GY	2	Flat
£1,250	12/24	0.34 mi	Ryland Street, BIRMINGHAM	2	Flat

Local Area Statistics

Population in B16	23,61823,618
Population in Birmingham	1,034,8211,034,821
Town centre distance	2.18 miles away2.18 miles away
Nearest school	0.20 miles away0.20 miles away
Nearest train station	0.84 miles away0.84 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	-17%-17%
Sales demand	Buyer's marketBuyer's market
Capital growth (5yrs)	+27%+27%

Property History

Price changed to £120,000

February 20, 2025

Listed for £125,000

February 3, 2024

Floor Plans

Description

Spacious Accommodation +
Two Double Bedrooms +
Convenient Location +
No Onward Chain +
In Need Of Some Improvements +
An Ideal Buy To Let Or First Home +

A spacious two bedroom flat situated in a highly convenient location close to Five Ways and Broad Street. Currently tenanted so can be purchased with tenants in situ or vacant possession.

Agent Details

haart, Harborne

0121 387 6520

Next Steps?

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

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