3 Bed Bungalow, Refurb/BRRR, Wolverhampton, WV6 8HQ, £385,000

68 Mount Road, Tettenhall Wood, Wolverhampton, WV6 8HQ - 3 views - a year ago

Refurb/BRRR
~161 m²
+9 photos

ValuationFair Value

Sold Prices£140K - £535K
Sold Prices/m²£1.6K/m² - £5.7K/m²

 

 

Square Metres

~160.82 m²
Price/m²£2.4K/m²

Value Estimate

£385,000

 

 

End Value (After Refurb)

£464,209

Uplift in Value

+21%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£96,250

Stamp Duty & Legal Fees

£27,200

Refurb Costs

£63,203

Bridging Loan Interest

£10,106

Total Cash In

£198,509

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£464,209

Mortgage (After Refinance)

£348,157

Mortgage LTV

75%

Cash Released

£59,407

Cash Left In

£139,102

Equity

£116,052

Rent Range

£850 - £1,650

Rent Estimate

£1,195

Running Costs/mo

£1,710

Cashflow/mo

£-515

Cashflow/yr

£-6,176

Gross Yield

4%

Local Sold Prices

50 sold prices from £140K to £535K, average is £280K. £1.6K/m² to £5.7K/m², average is £3.1K/m².

PriceDateDistanceAddressBeds 
£345K01/210.02 mi74, Mount Road, Tettenhall Wood, Wolverhampton, West Midlands WV6 8HQ3
£399.9K04/230.02 mi56, Mount Road, Tettenhall Wood, Wolverhampton, West Midlands WV6 8HQ3
£425K11/200.08 mi1, Dippons Mill Close, Tettenhall Wood, Wolverhampton, West Midlands WV6 8HH3
£535K10/230.14 mi53, Mill Lane, Tettenhall Wood, Wolverhampton, West Midlands WV6 8HD3
£345K09/230.15 mi2, Carisbrooke Road, Perton, Wolverhampton, Staffordshire WV6 7UU3
£410K03/230.18 mi29, Torvale Road, Wolverhampton, West Midlands WV6 8NL3
£475K03/230.22 mi8, Grove Lane, Wolverhampton, West Midlands WV6 8NJ3
£320.5K03/240.22 mi148, Bridgnorth Road, Wolverhampton, West Midlands WV6 8BE3
£260K08/230.23 mi39, Mill Lane, Tettenhall Wood, Wolverhampton, West Midlands WV6 8EZ3
£275K11/230.23 mi37, Mill Lane, Tettenhall Wood, Wolverhampton, West Midlands WV6 8EZ3
£214.9K03/210.25 mi59, Long Lake Avenue, Tettenhall Wood, Wolverhampton, West Midlands WV6 8EY3
£285K11/200.26 mi33, Bramstead Avenue, Wolverhampton, West Midlands WV6 8AN3
£280K04/210.27 mi5, Mount Road, Tettenhall Wood, Wolverhampton, West Midlands WV6 8HU3
£279.9K05/230.28 mi36, Long Lake Avenue, Tettenhall Wood, Wolverhampton, West Midlands WV6 8EX3
£140K01/210.28 mi36, Long Lake Avenue, Tettenhall Wood, Wolverhampton, West Midlands WV6 8EX3
£380K05/210.28 mi1, Firsway, Wolverhampton, West Midlands WV6 8BJ3
£510.5K09/230.28 mi222, Bridgnorth Road, Wolverhampton, West Midlands WV6 8BQ3
£359.9K11/200.28 miMill Cottage, Bridgnorth Road, Wightwick, Wolverhampton, West Midlands WV6 8BD3
£266.5K02/230.28 mi25, Mill Lane, Tettenhall Wood, Wolverhampton, West Midlands WV6 8EU3
£300K02/230.3 mi47, Bramstead Avenue, Wolverhampton, West Midlands WV6 8AW3
£173K03/210.32 mi65, School Road, Tettenhall Wood, Wolverhampton, West Midlands WV6 8EP3
£225K02/240.32 mi59, School Road, Tettenhall Wood, Wolverhampton, West Midlands WV6 8EP3
£280K04/230.32 mi67, School Road, Tettenhall Wood, Wolverhampton, West Midlands WV6 8EP3
£332.5K08/230.33 mi23, Cherrington Gardens, Wolverhampton, West Midlands WV6 8AJ3
£269.9K02/210.33 mi46, Cherrington Gardens, Wolverhampton, West Midlands WV6 8AJ3
£215K06/210.33 mi28, School Road, Tettenhall Wood, Wolverhampton, West Midlands WV6 8ER3
£191K01/210.33 mi32, School Road, Tettenhall Wood, Wolverhampton, West Midlands WV6 8ER3
£352.5K07/230.33 mi9, Church Road, Tettenhall Wood, Wolverhampton, West Midlands WV6 8LJ3
£246K09/210.33 mi18, St Mawes Road, Perton, Wolverhampton, Staffordshire WV6 7UN3
£340K01/230.33 mi5, Church Road, Tettenhall Wood, Wolverhampton, West Midlands WV6 8LJ3
£300K02/230.33 mi14, St Mawes Road, Perton, Wolverhampton, Staffordshire WV6 7UN3
£465K07/230.35 mi6, The Heronry, Wolverhampton, West Midlands WV6 8DY3
£182K04/210.35 mi75, The Crescent, Wolverhampton, West Midlands WV6 8LB3
£190K03/210.36 mi13, The Crescent, Wolverhampton, West Midlands WV6 8LA3
£370K11/210.36 mi24, Perton Brook Vale, Wolverhampton, West Midlands WV6 8DS3
£210K03/210.37 mi84, Bridgnorth Road, Wolverhampton, West Midlands WV6 8AG3
£255K11/200.37 mi78, Bridgnorth Road, Wolverhampton, West Midlands WV6 8AG3
£312.5K12/200.37 mi244, Bridgnorth Road, Wolverhampton, West Midlands WV6 8BL3
£280K08/230.37 mi63, Bramstead Avenue, Wolverhampton, West Midlands WV6 8AT3
£310K12/230.37 mi55, Bramstead Avenue, Wolverhampton, West Midlands WV6 8AT3
£230K05/240.39 mi11, Woodland Avenue, Tettenhall Wood, Wolverhampton, West Midlands WV6 8ND3
£169.9K11/200.39 mi11, Woodland Avenue, Tettenhall Wood, Wolverhampton, West Midlands WV6 8ND3
£168K11/200.39 mi31, Woodland Avenue, Tettenhall Wood, Wolverhampton, West Midlands WV6 8ND3
£219K10/230.39 mi47, Woodland Avenue, Tettenhall Wood, Wolverhampton, West Midlands WV6 8ND3
£219.9K02/210.41 mi25, Martham Drive, Wolverhampton, West Midlands WV6 8AL3
£245K10/230.41 mi33, Martham Drive, Wolverhampton, West Midlands WV6 8AL3
£250.5K03/230.42 mi8, Raglan Avenue, Wolverhampton, Staffordshire WV6 7RZ3
£240K09/210.42 mi48, Richmond Drive, Perton, Wolverhampton, Staffordshire WV6 7RR3
£207K02/230.44 mi20, Woodend Place, Wolverhampton, West Midlands WV6 8JU3
£460K06/230.47 mi10, Foley Avenue, Tettenhall, Wolverhampton, West Midlands WV6 8LT3

Local Rents

25 rents from £850/mo to £1.6K/mo, average is £1.2K/mo.

RentDateDistanceAddressBeds 
£1,35012/240.33 miCherrington Gardens, Wolverhampton, WV63
£1,15012/240.35 mi-3
£1,15012/240.36 miTyrley Close, Compton3
£1,20012/240.38 mi-3
£1,20012/240.38 miWoodland Avenue, Wolverhampton, WV63
£1,20012/240.42 mi-3
£1,20002/250.42 mi-3
£1,20004/250.42 mi-3
£1,00011/240.67 miBroadway, Finchfield, Wolverhampton, West Midlands, WV33
£95012/240.69 mi-3
£1,20012/240.73 miRegis Road, Tettenhall, Wolverhampton3
£85012/240.74 miCornwall Road, Tettenhall3
£1,49512/240.76 mi14 Wincote Drive, Tettenhall, WV6 8LR3
£1,19502/240.8 mi-3
£89512/240.81 miCornwall Road, Tettenhall, Wolverhampton, WV6 8UZ3
£99512/240.89 miBrowning Grove, Perton, WOLVERHAMPTON3
£1,35012/240.91 mi-3
£1,35004/250.91 mi-3
£1,65012/240.93 miSutton Farm Barns, Claverley3
£1,10012/241.05 miMercia Drive, Wolverhampton, WV63
£1,15012/241.07 miThe Windrow, Perton, Wolverhampton, Staffordshire, WV63
£1,30002/251.08 mi-3
£1,25010/241.22 mi-3
£1,49512/241.22 miNeuvo Court, Newbridge, Wolverhampton3
£1,15012/241.23 mi70 Woodfield Heights, Tettenhall, Wolverhampton3

Local Area Statistics

Population in WV6

44,689

Population in Wolverhampton

260,353

Town centre distance

1.07 miles away

Nearest school

0.20 miles away

Nearest train station

2.48 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+25%

Sales demand

Balanced market

Capital growth (5yrs)

+38%

Property History

Listed for £385,000

April 9, 2024

Floor Plans

Description

68 Mount Road is a well-proportioned detached house in a sought-after family location..

Location - The property stands in a superb position in a sought after residential area within easy walking distance of the centre of Tettenhall with its wide range of local facilities.

The further amenities of Tettenhall Wood and Compton are within easy reach, the area is well served by schooling in both sectors and regular bus services run nearby.

Description - 68 Mount Road offers flexible accommodation over two storeys. The ground floor currently offers two reception rooms, a breakfast kitchen, shower room, laundry and a bedroom. This room could be used for a number of different purposes and the property would still have three first floor bedrooms and two shower rooms. There is ample parking with a long driveway and a double garage. The property would benefit from a scheme of modernisation to make the property suitable for the buyer’s needs.

Accommodation - A double glazed door opens into the HALL with a glazed door to the LOUNGE with an open grate fireplace, double glazed window to the front and glazed double doors opening into the DINING ROOM with double glazed patio doors to the rear and a glazed door to the BREAKFAST KITCHEN with a range of wall and base units, double glazed windows to two elevations, a four ring electric hob with Bosch filtration unit above, double electric oven and a double glazed door to the side. There is a double BEDROOM / RECEPTION ROOM with a double glazed window to the side, this room could equally be used as a third reception room, gym or study. There is a SHOWER ROOM with a tiled shower cubicle, WC, vanity unit with wash basin, cupboards and drawers and a double glazed window. The LAUNDRY has a sink and drainer, space and plumbing for a washing machine and a tumble dryer with a double glazed window to the side.

Stairs from the hall rise to the first floor landing with a double glazed window, a linen cupboard with shelving and loft access with a drop down ladder. BEDROOM ONE has a double glazed window to the rear, built in wardrobes, pedestal wash basin. BEDROOM TWO is also double in size with a double glazed window to the front, built in wardrobes and a pedestal wash basin and BEDROOM THREE is a good size with a double glazed window. The HOUSE BATHROOM has a panelled bath with shower over, WC, pedestal wash basin, heated ladder towel rail, a double glazed window, a linen cupboard with slatted shelving and a wall mounted Worcester Bosch boiler.

Outside - 68 Mount Road is approached over a part shared driveway which leads to the DRIVEWAY for the property which is laid in tarmacadam which stretches from the front boundary, past the house to the DOUBLE GARAGE to the rear with electric, up and over door, electric light and power. To the front of the property is a further area of parking with flowering and screening shrubs to the boarders. The REAR GARDEN is mostly laid in crazy paving and has planted shrubs to the borders and a shed.

We are informed by the Vendors that all mains services are connected
COUNCIL TAX BAND E – Wolverhampton
POSSESSION Vacant possession will be given on completion.
VIEWING Please contact the Tettenhall Office.
The property is FREEHOLD.
Broadband – Ofcom checker shows Standard and Ultrafast are available
Mobile – Ofcom checker shows the four main providers cover the area
Ofcom provides an overview of what is available, potential purchasers should contact their preferred supplier to check availability and speeds.

Agent Details

Berriman Eaton, Tettenhall

01902 953419

Next Steps?

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