2 Bed Flat, Single Let, Birmingham, B32 2JA, £143,000

73, Savoy Close, Birmingham, West Midlands, B32 2JA - 1 views - a year ago

Sold STC
Leasehold
BTL
ROI: 4%
75 m²
+2 photos

ValuationUndervalued

Sold Prices£80K - £268K
Sold Prices/m²£1.7K/m² - £4.9K/m²

 

 

Square Metres

75 m²
Price/m²£1.9K/m²

Value Estimate

£173,030
BMV21%

Cashflows

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£35,750

Stamp Duty & Legal Fees

£8,350

Refurb Costs

£30,865

Total Cash In

£77,055

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Rent Range

£895 - £1,400

Rent Estimate

£895

Running Costs/mo

£646

Cashflow/mo

£249

Cashflow/yr

£2,990

ROI

4%

Gross Yield

8%

Local Sold Prices

30 sold prices from £80K to £268K, average is £153.5K. £1.7K/m² to £4.9K/m², average is £2.8K/m².

PriceDateDistanceAddressBeds 
£150K11/220.04 mi64, Savoy Close, Birmingham, West Midlands B32 2JA2
£147K08/220.06 mi4, Cedarhurst, Birmingham, West Midlands B32 2JZ2
£145K01/230.07 mi46, Savoy Close, Birmingham, West Midlands B32 2JA2
£215K03/210.28 mi15, Fellows Lane, Birmingham, West Midlands B17 9TS2
£224K03/210.28 mi3, Fellows Lane, Birmingham, West Midlands B17 9TS2
£235K07/230.28 mi1a, Fellows Lane, Birmingham, West Midlands B17 9TS2
£196K09/210.32 mi88, Court Oak Road, Birmingham, West Midlands B17 9TN2
£87.5K11/230.52 mi29, First Meadow Piece, Quinton, Birmingham, West Midlands B32 2QJ2
£80K05/230.64 miFlat 54, Timbermill Court, Serpentine Road, Harborne, Birmingham, West Midlands B17 9RD2
£100K07/230.64 miFlat 2, Timbermill Court, Serpentine Road, Harborne, Birmingham, West Midlands B17 9RD2
£82K08/220.65 miFlat 50, Timbermill Court, Serpentine Road, Harborne, Birmingham, West Midlands B17 9RD2
£157K02/230.75 mi43, Winchfield Drive, Birmingham, West Midlands B17 8TG2
£142.3K06/210.75 mi37, Winchfield Drive, Birmingham, West Midlands B17 8TG2
£170K09/220.76 mi6, Walmead Croft, Birmingham, West Midlands B17 8TH2
£175K11/220.76 mi46, Walmead Croft, Birmingham, West Midlands B17 8TH2
£180K02/230.78 mi18, Spreadbury Close, Birmingham, West Midlands B17 8TQ2
£155K02/230.79 mi63, Sheepmoor Close, Birmingham, West Midlands B17 8TD2
£193K11/220.81 mi36, Sheepmoor Close, Birmingham, West Midlands B17 8TD2
£170K08/210.81 mi36, Sheepmoor Close, Birmingham, West Midlands B17 8TD2
£115K09/220.81 mi37, Sheepmoor Close, Birmingham, West Midlands B17 8TD2
£100K12/200.82 mi14, Waterward Close, Harborne, Birmingham, West Midlands B17 0DP2
£151K09/210.86 mi53, Leahurst Crescent, Harborne, Birmingham, West Midlands B17 0LG2
£268K08/220.88 mi128, Ravenhurst Road, Harborne, Birmingham, West Midlands B17 9HP2
£135K11/220.89 mi40, Arosa Drive, Birmingham, West Midlands B17 0SE2
£152K04/230.89 mi28, Arosa Drive, Birmingham, West Midlands B17 0SE2
£139K04/210.91 mi45, Arosa Drive, Birmingham, West Midlands B17 0SB2
£140K02/210.91 mi43, Arosa Drive, Birmingham, West Midlands B17 0SB2
£165K03/230.93 mi73, Arosa Drive, Birmingham, West Midlands B17 0SD2
£155K12/220.93 mi39, Arosa Drive, Birmingham, West Midlands B17 0SB2
£155K01/230.93 mi67, Arosa Drive, Birmingham, West Midlands B17 0SD2

Local Rents

39 rents from £895/mo to £1.4K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£1,05012/240.14 miWisley Way, Birmingham2
£90012/240.18 miMath Meadow, Birmingham2
£1,00012/240.25 miCourt Oak Road, Harbrone, B172
£1,15012/240.27 miCourt Oak Road, Harborne, B172
£89512/240.28 miFredas Grove, Harborne, Birmingham, B172
£1,15012/240.29 miNorthfield Road, Harborne, B172
£92512/240.3 miBlandford Road, Quinton, Birmingham, B32 2LP2
£1,10012/240.3 miNorthfield Road, Harborne, Birmingham2
£97501/240.31 mi-2
£1,00012/240.31 miHampton Court Road, Harborne, Birmingham, B172
£1,00012/240.31 miHampton Court Road, Harborne, Birmingham, B172
£99512/240.31 miHampton Court Road, Harborne, Birmingham, B17 9AE2
£1,15012/240.33 miHampton Court Road, Harborne, B172
£1,10012/240.34 miHampton Court Road, Harborne2
£89512/240.35 miNorthfield Road, Harborne, Birmingham, West Midlands, B17 0ST2
£99903/250.36 mi-2
£97512/240.37 miMilford Road, BIRMINGHAM2
£1,10012/240.4 miWood Lane, Harborne2
£1,10012/240.41 miHartledon Road, Harborne2
£1,10012/240.41 miHartledon Road, Harborne2
£1,25001/250.41 mi-2
£99501/250.42 mi-2
£1,20003/250.42 mi-2
£1,27503/240.45 mi-2
£1,27512/240.45 miChurchcroft, Harborne, Birmingham, B172
£1,10012/240.46 miDufton Road, Quinton, BIRMINGHAM2
£95002/240.47 mi-2
£95002/240.49 mi-2
£1,05002/240.49 mi-2
£1,05012/240.5 miQuinton Road West, Birmingham, West Midlands, B322
£1,09512/240.5 miQuinton Road West, Birmingham, West Midlands, B322
£90003/250.51 mi-2
£1,40002/250.54 mi-2
£1,28012/240.54 miSt Peters Road, Harborne, BIRMINGHAM2
£1,05012/240.55 mi-2
£1,15012/240.57 miBalden Road, Harborne2
£95012/240.58 miFrankley Terrace, Lordswood Road2
£1,25012/240.58 miLonsdale Square, Lordswood Road, Harborne, Birmingham, B17 9RA2
£1,19512/240.61 miThe Lords, Lordswood Road, Harborne2

Local Area Statistics

Population in B32

38,356

Population in Birmingham

1,034,821

Town centre distance

3.91 miles away

Nearest school

0.20 miles away

Nearest train station

1.56 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+5%

Sales demand

Balanced market

Capital growth (5yrs)

+35%

Property History

Price changed to £143,000

January 27, 2025

Listed for £147,000

May 3, 2024

Floor Plans

Description

  • LARGE FIRST FLOOR FLAT WITH EXTENDED LEASE +
  • TWO GOOD SIZED BEDROOMS +
  • KITCHEN/DINER & GENEROUS LIVING ROOM +
  • CONVENIENT FOR QUEENS PARK & HARBORNE GOLF CLUB +
  • LOCATED APPROXIMATELY 1 MILE FROM HARBORNE HIGH STREET +
  • GARAGE LOCATED IN SEPARATE BLOCK +

Conveniently situated for Queens Park and Harborne Golf Club, located approximately a mile from Harborne High Street where there is an abundance of amenities is this large first floor flat with two good sized bedrooms and garage. THE PROPERTY BENEFITS FROM AN EXTENDED LEASE.

Communal entrance hall, reception hall, kitchen/diner, living room, two good-sized bedrooms, bathroom, double glazing where detailed, garage.

RECEPTION HALL (Inner)
Storage heater, intercom system, storage cupboard, cloaks cupboard with hanging rail and storage cupboard above, doors radiating off.

BATHROOM 2.02m x 2.13m
Obscure double glazed window, w.c., pedestal wash-hand basin, shaver point, p-shaped bath with central tap, electric 'Triton' shower, shower screen, walls to shower area tiled to full height. Further walls tiled to approximately half wall height, tiled floor finish, airing cupboard housing hot water cylinder.

GOOD SIZED LIVING ROOM 6.12m x 3.51m
Double glazed window.

KITCHEN/DINER 4.34m x 2.74m
Tiled floor finish, double glazed window to rear and single glazed window. The kitchen is fitted with base units with cupboards and drawers, complementary work tops with tiled splashbacks, single bowl single drainer stainless steel sink with mixer tap, plumbing for washing machine, space for cooker and fridge, wall-mounted storage cupboard, built-in tall cupboard with shelving.

BEDROOM ONE (Rear) 3.50m x 3.95m
Double glazed window.

BEDROOM TWO (Rear) 3.50m x 2.24m plus wardrobe (2.88m max into door recess)
Single glazed window, fitted wardrobe with storage cupboard above.

GARAGE 2.42m max to door x 2.42m (2.29m min)

COUNCIL TAX BAND B

TENURE
The property is leasehold. The original lease was for a term of 90 years from 25th March 1977. The lease was extended from the 10th November 2023 for an additional 90 years to and including the 24th of March 2157 subject to a peppercorn ground rent. The Agent has not checked the legal documents to verify the leasehold status of the property. The buyer is advised to obtain verification from their Solicitor or Surveyor.

SERVICE CHARGE
The current level of service charge is £960.00 per annum (the variable service charge paid half yearly). Please note, this is subject to change. The buyer is advised to obtain verification from their Solicitor or Surveyor.

SERVICES
The Agents have not tested any apparatus, equipment, fixtures, fittings or services and so cannot verify they are in working order or fit for their purpose. The buyer is advised to obtain verification from their Solicitor or Surveyor.

FIXTURES AND FITTINGS
All items unless specifically referred to in these sales particulars are expressly excluded from the proposed sale. However, fitted carpets, curtains and certain other items may be taken at a valuation to be agreed.

Revision 1 GTS 02/03/2023
Revision 2 EHM 27/01/2025

MONEY LAUNDERING REGULATIONS –
In order to comply with Money Laundering Regulations, all prospective purchasers are required to provide the following - 1. Satisfactory photographic identification. 2. Proof of address/residency. 3. Verification of the source of purchase funds including bank statements for deposits in order to purchase and copy of mortgage agreement in principle from the appropriate lender. In the absence of being able to provide appropriate physical copies of the above, Scriven & Co reserves the right to obtain electronic verification of identity.
EXTRA SERVICES -
By law, the agent must tell the client if the agent or any connected person intends to earn any commission or any other fees from offering or referring other services to the client or buyer. If the agent or any connected person earns money from any of these services or referrals the agent or the connected person would keep this commission or fee. Part of the payment for these extra services will be paid to the agent as a result of the referral.
Scriven & Co offers the following services and has the following referral arrangements in place:
Scriven & Co routinely refers sellers (and buyers) to Infinity Financial Advice. It is the clients’ or buyers’ decision whether to choose to deal with Infinity Financial Advice. Should the client or a buyer decide to use Infinity Financial Advice the client or buyer should know that Scriven & Co receive a payment from Infinity Financial Advice equating on average to a figure in the order of £200 per referral.
Scriven & Co routinely refers sellers (and buyers) to certain firms of solicitors/conveyancers. It is the clients’ or buyers’ decision whether to choose to deal with any of the referral companies. Should the client or a buyer decide to use any of these companies the client or buyer should know that Scriven & Co receive a payment from these companies equating to a figure in the order of £100-£200 per referral. We are informed that the solicitors/conveyancers are happy to pay this referral fee to ourselves as it significantly reduces the marketing costs that they have to allocate to sourcing new business. The referral fee is NOT added to the conveyancing charges that would ordinarily be quoted.
The agent routinely refers sellers (and buyers) to Warren’s removals and storage. It is the clients’ or buyers’ decision whether to choose to deal with Warren’s removals and storage. Should the client or a buyer decide to use Warren’s removals and storage the client or a buyer should know that the agent receives a referral fee to the value of £50 from them for recommending a client or buyer to them.

Agent Details

Scriven & Co, Quinton

0121 387 6435

Next Steps?

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