4 Bed Terraced House, Planning Permission, Wolverhampton, WV3 9RL, £260,000

Merridale Road, Merridale, Wolverhampton WV3 9RL - 31 views - a year ago

Planning
ROI: 6%
~129 m²
+12 photos

ValuationOvervalued

Sold Prices£96K - £740K
Sold Prices/m²£596/m² - £5.1K/m²

 

 

Square Metres

~129.26 m²
Price/m²£2K/m²

Value Estimate

£202,430

 

 

End Value (After Refurb)

£247,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£65,000

Stamp Duty & Legal Fees

£9,500

Refurb Costs

£51,147

Bridging Loan Interest

£6,825

Total Cash In

£134,222

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£247,000

Mortgage (After Refinance)

£185,250

Mortgage LTV

75%

Cash Left In

£134,222

Equity

£61,750

Rent Range

£775 - £4,500

Rent Estimate

£1,772

Running Costs/mo

£1,146

Cashflow/mo

£626

Cashflow/yr

£7,509

ROI

6%

Gross Yield

8%

Local Sold Prices

50 sold prices from £96K to £740K, average is £243.8K. £596/m² to £5.1K/m², average is £1.6K/m².

PriceDateDistanceAddressBeds 
£272K02/210.15 mi5, Summerfield Road, Wolverhampton, West Midlands WV1 4PR4
£375K06/210.18 mi14, Park Road West, Wolverhampton, West Midlands WV1 4PP4
£300K02/230.25 mi17, Merridale Lane, Wolverhampton, West Midlands WV3 9RD4
£250K01/210.34 mi2, Westland Avenue, Wolverhampton, West Midlands WV3 9NX4
£260K06/210.39 mi15, Clark Road, Wolverhampton, West Midlands WV3 9NP4
£330K03/230.46 mi19, Glengarry Gardens, Wolverhampton, West Midlands WV3 9HX4
£175K06/210.52 mi157, Newhampton Road East, Wolverhampton, West Midlands WV1 4BD4
£141.5K09/210.53 mi268, Newhampton Road East, Wolverhampton, West Midlands WV1 4AW4
£137.5K07/230.53 mi2, Clifford Street, Wolverhampton, West Midlands WV6 0AB4
£182.5K01/240.53 mi7, Kingsland Road, Wolverhampton, West Midlands WV1 4PH4
£325K12/230.54 mi37, Paget Road, Wolverhampton, West Midlands WV6 0DS4
£155K03/210.54 mi18, Dalton Street, Wolverhampton, West Midlands WV3 0HF4
£350K07/210.56 mi1, Richmond Road, Wolverhampton, West Midlands WV3 9HY4
£278K06/210.57 mi40, Paget Road, Wolverhampton, West Midlands WV6 0DX4
£247.5K03/210.57 mi34, Paget Road, Wolverhampton, West Midlands WV6 0DX4
£138.5K05/230.59 mi13, Newhampton Road West, Whitmore Reans, Wolverhampton, West Midlands WV6 0RY4
£292K06/230.6 mi15, Allen Road, Wolverhampton, West Midlands WV6 0AW4
£235K01/240.6 mi85, Allen Road, Wolverhampton, West Midlands WV6 0AW4
£210K12/230.6 mi59, Allen Road, Wolverhampton, West Midlands WV6 0AW4
£165K05/230.6 mi34, Dunkley Street, Wolverhampton, West Midlands WV1 4AN4
£412.5K06/230.6 mi46, Finchfield Road, Wolverhampton, West Midlands WV3 9LQ4
£360K10/210.6 mi36, Richmond Road, Wolverhampton, West Midlands WV3 9JD4
£110K05/210.61 mi36, Rugby Street, Wolverhampton, West Midlands WV1 4PF4
£164K03/230.61 mi46, Rugby Street, Wolverhampton, West Midlands WV1 4PF4
£740K06/230.61 miAppledorn House, Park Rise, Wolverhampton, West Midlands WV3 9JQ4
£96K05/230.61 mi22, Allen Road, Wolverhampton, West Midlands WV6 0AN4
£225K07/210.62 mi122, Clark Road, Wolverhampton, West Midlands WV3 9PD4
£345K12/230.62 mi122, Clark Road, Wolverhampton, West Midlands WV3 9PD4
£146K10/220.63 mi56, Dunkley Street, Wolverhampton, West Midlands WV1 4AN4
£139.5K03/230.63 mi68, Sherwood Street, Wolverhampton, West Midlands WV1 4RQ4
£139.5K03/230.63 mi69, Sherwood Street, Wolverhampton, West Midlands WV1 4RQ4
£187.5K11/210.64 mi164, Lea Road, Penn Fields, Wolverhampton, West Midlands WV3 0LQ4
£231K04/210.68 mi10, St Judes Road, Wolverhampton, West Midlands WV6 0EB4
£475K02/210.7 mi1, Richmond Drive, Wolverhampton, West Midlands WV3 9JE4
£135K02/230.72 mi187, Staveley Road, Wolverhampton, West Midlands WV1 4RJ4
£178K10/200.73 mi253, Staveley Road, Wolverhampton, West Midlands WV1 4RH4
£485K04/210.74 mi29, Claremont Road, Wolverhampton, West Midlands WV3 0EA4
£240K01/240.74 mi72, Hughes Avenue, Wolverhampton, West Midlands WV3 7AT4
£235K02/210.76 mi17, Balfour Crescent, Wolverhampton, West Midlands WV6 0BJ4
£207.5K12/230.76 mi15, Balfour Crescent, Wolverhampton, West Midlands WV6 0BJ4
£162.5K12/200.79 mi96, Newbridge Street, Wolverhampton, West Midlands WV6 0EQ4
£190K11/210.81 mi200, Jeffcock Road, Wolverhampton, West Midlands WV3 7AH4
£570K03/210.82 mi14, Waterdale, Compton, Wolverhampton, West Midlands WV3 9DY4
£416.2K06/210.82 mi277, Tettenhall Road, Wolverhampton, West Midlands WV6 0DE4
£255K07/210.82 mi33, Birches Barn Road, Wolverhampton, West Midlands WV3 7BL4
£583K11/220.83 mi16, Waterdale, Compton, Wolverhampton, West Midlands WV3 9DY4
£473K12/200.86 mi80, Compton Road West, Wolverhampton, West Midlands WV3 9DT4
£420K09/230.88 mi27, Newbridge Crescent, Wolverhampton, West Midlands WV6 0LN4
£387.5K02/210.88 mi59, Broad Lane, Wolverhampton, West Midlands WV3 9BW4
£377K12/200.89 mi70, Linden Lea, Finchfield, Wolverhampton, West Midlands WV3 8BE4

Local Rents

36 rents from £775/mo to £4.5K/mo, average is £1.4K/mo.

RentDateDistanceAddressBeds 
£1,10003/250.14 mi-3
£2,70011/240.14 mi-3
£2,70011/240.14 mi-4
£2,70011/240.14 mi-4
£2,99902/250.14 mi-4
£2,99903/250.14 mi-4
£1,20011/240.18 miOak Street, Merridale, Wolverhampton, WV33
£1,50011/240.18 miHaden Hill, Wolverhampton, WV34
£1,20011/240.21 mi-3
£1,10011/240.31 miMerridale Road, WOLVERHAMPTON3
£1,29504/250.33 mi-3
£4,20002/250.33 mi-4
£77511/240.35 miKimberley Street, Wolverhampton, WV33
£2,00012/240.35 mi-4
£87504/250.37 mi-3
£1,20011/240.39 miMerridale Street West, Wolverhampton, West Midlands, WV33
£1,20011/240.39 miMerridale Street West, Wolverhampton, West Midlands, WV33
£3,35001/250.39 mi-4
£3,20003/250.39 mi-4
£4,00004/250.43 mi-12
£4,50012/230.44 mi-12
£1,00011/240.46 miMerridale Street West, Wolverhampton, WV33
£1,00011/240.46 mi-3
£85001/250.47 mi-3
£1,30011/240.47 mi75 Compton Road, Wolverhampton4
£1,40003/250.48 mi-4
£1,50003/250.52 mi-4
£1,30011/240.53 miOwen Road, WOLVERHAMPTON4
£1,05002/250.57 mi-3
£1,60004/250.57 mi-3
£1,90002/250.58 mi-6
£2,10001/250.58 mi-6
£1,55012/240.59 miRiches Street, Wolverhampton4
£3,20012/240.6 mi-6
£1,10011/240.6 mi-3
£1,20011/240.62 mi-3

Local Area Statistics

Population in WV3

29,663

Population in Wolverhampton

260,353

Town centre distance

0.87 miles away

Nearest school

0.20 miles away

Nearest train station

0.76 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+14%

Sales demand

Seller's market

Capital growth (5yrs)

+27%

Property History

Listed for £260,000

March 25, 2024

Floor Plans

Description

  • No upward chain +
  • Planning permission for single story rear extension & loft conversion +
  • Exceptional sized family home +
  • Catchment area for desired schools +
  • Large garden +
  • High standard of fittings +
  • 3 Floors of accommodation +
  • Generous cellar +
  • Downstairs WC +
  • Kitchen + Utility +

Occupying a choice position in an established residential area this period, Victorian style end of terrace property enjoys both a spacious and versatile lay out of living accommodation over three floors which has been completely refurbished throughout and is complimented by high ceilings. In our opinion this property must be viewed internally to truly appreciate the deceptive interior layout. Situated on the fringe of Bantock Park with its abundance of activity areas and meandering walks the property is only a short distance from Bradmore Village with a good variety of local amenities and Wolverhampton City Centre is also close by. Presented to the market with no upward chain the highly presented accommodation includes a living room, dining room, downstairs WC kitchen, utility, 4 double bedrooms, 3 En-suites, patio area and a generous sized lawned garden.

Planning permission was granted in 2022 for a single storey rear extension and loft conversion reference 22/00536/FUL  

EPC D56

Anti Money Laundering & Proceeds of Crime Acts: To ensure compliance with the Anti Money Laundering Act and Proceeds of Crime Act: All intending purchasers must produce identification documents prior to the memorandum of sale being issued. If these are not produced in person we will require certified copies from professionals such as doctor, teacher, solicitor, bank manager, accountant or public notary, To avoid delays in the buying process please provide the required documents as soon as possible. We may also use an online service provider to also confirm your identity. A list of acceptable ID documents is available upon request. We will also require confirmation of where the funding is coming from such as a bank statement with funding for deposit or purchase price and if mortgage finance is required a mortgage agreement in principle from your chosen lender.

Agent Details

Nick Tart Estate Agents, Tettenhall

01902 953189

Next Steps?

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