2 Bed Terraced House, Refurb/BRRR, Leicester, LE2 4DP, £199,950

Spencer Street, Oadby, LE2 4DP - 2 views - 10 months ago

Sold STC
Refurb/BRRR
~86 m²
+2 photos

ValuationFair Value

Sold Prices£149.5K - £575K
Sold Prices/m²£2.1K/m² - £5.8K/m²

 

 

Square Metres

~86 m²
Price/m²£2.3K/m²

Value Estimate

£199,950

 

 

End Value (After Refurb)

£280,000

Uplift in Value

+40%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£49,988

Stamp Duty & Legal Fees

£7,199

Refurb Costs

£34,030

Bridging Loan Interest

£5,249

Total Cash In

£98,215

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Estimated Sale Price

£280,000

Agent Fees (1%)

£2,800

Bridging Loan

£149,963

Bridging Loan Interest

£5,249

Flip Profit

£29,023

Local Sold Prices

37 sold prices from £149.5K to £575K, average is £230K. £2.1K/m² to £5.8K/m², average is £3.5K/m².

PriceDateDistanceAddressBeds 
£182.5K01/210.13 mi21, Sandhurst Street, Oadby, Leicester, Leicestershire LE2 5AR2
£205K03/210.22 mi33, Hornbeam Close, Oadby, Leicester, Leicestershire LE2 4EQ2
£181K03/230.23 mi4, Church Street, Oadby, Leicester, Leicestershire LE2 5DB2
£250K11/200.24 mi14, Seagrave Drive, Oadby, Leicester, Leicestershire LE2 5GH2
£546K01/210.25 mi40, Meadowcourt Road, Leicester, Leicestershire LE2 2PB2
£235K01/230.25 mi9, Kilburn Avenue, Oadby, Leicester, Leicestershire LE2 5FQ2
£248K05/210.26 mi19, Chestnut Avenue, Oadby, Leicester, Leicestershire LE2 5JH2
£270K12/200.26 mi10, Chestnut Avenue, Oadby, Leicester, Leicestershire LE2 5JG2
£272.5K01/230.29 mi6, Drury Lane, Oadby, Leicester, Leicestershire LE2 5FD2
£230K09/210.31 mi8, Mercia Drive, Oadby, Leicester, Leicestershire LE2 5GB2
£165K01/210.32 mi36, New Street, Oadby, Leicester, Leicestershire LE2 5EB2
£230K02/210.33 mi8, Foxhunter Drive, Oadby, Leicester, Leicestershire LE2 5FE2
£575K09/210.34 mi60, The Yews, Oadby, Leicester, Leicestershire LE2 5EF2
£150K07/210.35 mi19, New Street, Oadby, Leicester, Leicestershire LE2 5EB2
£245K12/200.35 mi55, Foxhunter Drive, Oadby, Leicester, Leicestershire LE2 5FG2
£200K03/230.35 mi57, Foxhunter Drive, Oadby, Leicester, Leicestershire LE2 5FG2
£255K01/230.37 mi29, Seagrave Drive, Oadby, Leicester, Leicestershire LE2 5GJ2
£218.5K01/210.37 mi49, Davenport Avenue, Oadby, Leicester, Leicestershire LE2 5HQ2
£245K11/210.37 mi2, Valentine Drive, Oadby, Leicester, Leicestershire LE2 5GN2
£245K06/230.4 mi67, Foxhunter Drive, Oadby, Leicester, Leicestershire LE2 5FH2
£160K03/210.42 mi116, Harborough Road, Oadby, Leicester, Leicestershire LE2 4LD2
£175K11/210.42 mi6, Honeywell Close, Oadby, Leicester, Leicestershire LE2 5QP2
£149.5K01/210.42 mi25, Honeywell Close, Oadby, Leicester, Leicestershire LE2 5QP2
£176K04/210.62 mi149, London Road, Oadby, Leicester, Leicestershire LE2 5DQ2
£210K04/210.71 mi23, Highleys Drive, Oadby, Leicester, Leicestershire LE2 5TL2
£223K09/210.79 mi30, Nene Drive, Oadby, Leicester, Leicestershire LE2 4JE2
£280K02/230.81 mi59, Knighton Church Road, Leicester LE2 3JN2
£190K01/230.81 mi1, Avon Close, Oadby, Leicester, Leicestershire LE2 4JD2
£186K05/210.82 mi17, Derwent Walk, Oadby, Leicester, Leicestershire LE2 4JB2
£277K06/230.83 mi8, Hursley Close, Oadby, Leicester, Leicestershire LE2 4JG2
£257K07/230.85 mi7, Dart Close, Oadby, Leicester, Leicestershire LE2 4JA2
£375K03/210.86 mi22, Southland Road, Leicester LE2 3RJ2
£225K02/210.94 mi22, Shenley Road, Wigston, Leicestershire LE18 3QL2
£200K06/210.95 mi197, Knighton Church Road, Leicester LE2 3JP2
£256.5K08/210.95 mi181, Knighton Church Road, Leicester LE2 3JP2
£240K01/210.96 mi11, Coombe Rise, Oadby, Leicester, Leicestershire LE2 5TJ2
£220K10/201 mi59, Thirlmere Road, Wigston, Leicestershire LE18 3RS2

Local Rents

44 rents from £775/mo to £2.7K/mo, average is £950/mo.

RentDateDistanceAddressBeds 
£1,00005/240 mi-2
£1,00012/240 mi-2
£90005/240.03 miStoughton Road, OADBY, Leicester, Leicestershire, LE22
£1,10005/240.04 miBeaumont Street, Oadby, LE22
£95005/240.05 miBeaumont Street, Leicester, LE22
£95005/240.05 miBeaumont Street, Leicester, LE22
£95005/240.05 miBeaumont Street, Leicester, LE22
£95005/240.05 mi-2
£95006/240.05 mi-2
£90001/250.05 mi-2
£1,02504/240.1 mi-2
£1,12505/240.1 miBeaumont Street, Oadby, Leicester, LE22
£90012/240.12 mi-2
£90005/240.12 miThe Parade, Leicester2
£95012/230.17 mi-2
£1,00010/240.17 mi-2
£1,10005/240.2 miLeicester Road, Oadby, Leicester2
£99006/240.22 mi-2
£99005/240.22 miChestnut Avenue, Leicester, LE22
£79505/240.23 miTomlinson Court, Harborough Road, Oadby2
£90003/240.23 mi-2
£85003/240.23 mi-2
£85006/240.23 miBrooksby Close, Oadby, Leicester2
£95005/240.24 miSeagrave Drive, Oadby, LEICESTER2
£1,30005/240.24 miPrimrose Hill, Leicester2
£90009/240.27 mi-2
£1,10004/240.28 mi-2
£1,10004/240.28 mi-2
£1,20005/240.28 miNew Street, Oadby, Leicester, LE22
£1,10005/240.28 miChurch Street, Oadby, LE22
£1,10005/240.28 miChurch Street, Oadby, LE22
£85011/230.28 mi-2
£1,19505/240.34 miBrampton Way, Oadby2
£85005/240.35 miRegent House, London Road, Oadby2
£2,70001/250.4 mi-2
£1,09504/240.4 miFoxhunter Drive, OADBY, Leicester, Leicestershire, LE22
£95011/240.43 mi-2
£2,50004/240.43 mi-2
£77512/230.43 mi-2
£79501/250.43 mi-2
£92506/240.49 miLondon Road, Oadby, LE22
£1,05005/240.6 miFairfield Road, Oadby, LE22
£98005/240.62 miLondon Road, Stoneygate, Leicester2
£90005/240.62 miLondon Road, Oadby, LEICESTER2

Local Area Statistics

Population in LE2

118,352

Population in Leicester

565,124

Town centre distance

2.92 miles away

Nearest school

0.30 miles away

Nearest train station

2.53 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

-22%

Sales demand

Balanced market

Capital growth (5yrs)

+27%

Property History

Listed for £199,950

March 15, 2024

Floor Plans

Description

  • 2 BEDROOM TERRACED +
  • RENOVATION PROJECT +
  • PRIME LOCATION +
  • VACANT +
  • GREAT PRICE +
  • NO CHAIN +

Oadby Estates are pleased to present to the market this two-bed terraced property located on Spencer Street in Oadby, Leicester. The ground floor consists of 2 reception rooms, kitchen and under stair storage. To the first floor there are two double bedrooms and the family bathroom with shower.

This property is in need of a complete renovation and has been completely stripped out for the new owner to start on a blank canvas. There is potential to create a further room/bathroom downstairs with the view to convert the bathroom to another bedroom (stpp). This renovation project is perfect for investors or first-time buyers looking to create a beautiful home.

The location of the property is also to be desired as Spencer Street is located very close to the main shopping centre of Oadby including supermarkets, the property is also a desired location for the school catchment area.

The property is vacant and is available to view immediately.

Agent Details

Oadby Estate Agents Ltd, Oadby

0116 216 3837

Next Steps?

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