2 Bed Flat, Cash/Bridging Only, Wakefield, WF1 1NG, £80,000

George Street, Wakefield, WF1 1NG - 1 views - 10 months ago

Sold STC

Leasehold

Cash

ROI: 6%

~68 m²

+5 photos

ValuationFair Value

Sold Prices	£37K - £220K
Sold Prices/m²	£698/m² - £2.4K/m²

Square Metres	~68.11 m²
Price/m²	£1.2K/m²
Value Estimate	£80,000£80,000

End Value (After Refurb)	£106,253£106,253
Uplift in Value	+33%+33%

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£20,000£20,000
Stamp Duty & Legal Fees	£3,600£3,600
Refurb Costs	£26,951£26,951
Bridging Loan Interest	£2,100£2,100
Total Cash In	£54,401£54,401

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£106,253£106,253
Mortgage (After Refinance)	£79,690£79,690
Mortgage LTV	75%75%
Cash Released	£19,690£19,690
Cash Left In	£34,712£34,712
Equity	£26,563£26,563
Rent Range	£625 - £2,050£625 - £2,050
Rent Estimate	£792
Running Costs/mo	£510£510
Cashflow/mo	£282£282
Cashflow/yr	£3,379£3,379
ROI	6%6%
Gross Yield	12%12%

Local Sold Prices

39 sold prices from £37K to £220K, average is £95K. £698/m² to £2.4K/m², average is £1.6K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£37K	11/23	0.1 mi	20a, Sun Lane, Wakefield, West Yorkshire WF1 1JD	£698	53	2	Flat
£71K	09/23	0.22 mi	41, Delamere Gardens, Wakefield, West Yorkshire WF1 4LJ	£1,014	70	2	Flat
£120K	09/21	0.48 mi	44, St Christophers Walk, Wakefield, West Yorkshire WF1 2UP	£1,866	64	2	Flat
£162.5K	02/23	0.48 mi	57, St Christophers Walk, Wakefield, West Yorkshire WF1 2UP	£2,329	70	2	Flat
£136K	03/23	0.48 mi	37, St Christophers Walk, Wakefield, West Yorkshire WF1 2UP	-	-	2	Flat
£125K	08/23	0.48 mi	26, St Christophers Walk, Wakefield, West Yorkshire WF1 2UP	£2,273	55	2	Flat
£142.5K	02/23	0.48 mi	24, St Christophers Walk, Wakefield, West Yorkshire WF1 2UP	-	-	2	Flat
£147K	11/22	0.48 mi	5, St Christophers Walk, Wakefield, West Yorkshire WF1 2UP	£2,162	68	2	Flat
£73.5K	12/20	0.53 mi	137, Howden Way, Eastmoor, Wakefield, West Yorkshire WF1 4PL	£1,148	64	2	Flat
£77K	11/21	0.53 mi	173, Howden Way, Eastmoor, Wakefield, West Yorkshire WF1 4PL	£1,305	59	2	Flat
£90K	08/23	0.53 mi	54, Howden Way, Eastmoor, Wakefield, West Yorkshire WF1 4PL	£1,525	59	2	Flat
£67K	10/20	0.53 mi	177, Howden Way, Eastmoor, Wakefield, West Yorkshire WF1 4PL	£1,136	59	2	Flat
£72K	12/20	0.53 mi	167, Howden Way, Eastmoor, Wakefield, West Yorkshire WF1 4PL	£1,125	64	2	Flat
£85K	02/23	0.53 mi	159, Howden Way, Eastmoor, Wakefield, West Yorkshire WF1 4PL	£1,328	64	2	Flat
£78K	05/23	0.53 mi	4, Dickinson Court, Wakefield, West Yorkshire WF1 3PU	£1,560	50	2	Flat
£90K	04/23	0.53 mi	47, Dickinson Court, Wakefield, West Yorkshire WF1 3PU	£1,800	50	2	Flat
£80K	06/21	0.61 mi	1, Cliff Villa Court, Wakefield, West Yorkshire WF1 2DN	£1,569	51	2	Flat
£80K	05/21	0.61 mi	2, Cliff Villa Court, Wakefield, West Yorkshire WF1 2DN	-	-	2	Flat
£125K	12/20	0.71 mi	29, St Johns Court, Wakefield, West Yorkshire WF1 2RY	-	-	2	Flat
£110K	03/21	0.71 mi	11, St Johns Court, Wakefield, West Yorkshire WF1 2RY	£1,549	71	2	Flat
£220K	07/21	0.72 mi	28, Belgravia Road, Wakefield, West Yorkshire WF1 3JP	£2,444	90	2	Flat
£95K	09/23	0.73 mi	26, Blenheim Road, Wakefield, West Yorkshire WF1 3JZ	£1,369	69	2	Flat
£60K	04/23	0.75 mi	12, Elizabeth Gardens, Wakefield, West Yorkshire WF1 3SZ	£1,277	47	2	Flat
£58.3K	01/21	0.75 mi	8, Elizabeth Gardens, Wakefield, West Yorkshire WF1 3SZ	£1,239	47	2	Flat
£62.6K	12/23	0.75 mi	24, Elizabeth Gardens, Wakefield, West Yorkshire WF1 3SZ	£1,391	45	2	Flat
£115K	10/20	0.76 mi	15, Mayfair Court, Wakefield, West Yorkshire WF2 8WL	£2,054	56	2	Flat
£95K	09/23	0.76 mi	20, Mayfair Court, Wakefield, West Yorkshire WF2 8WL	£1,461	65	2	Flat
£100K	02/23	0.78 mi	10, Barrass Yard, Wakefield, West Yorkshire WF2 8WJ	£1,701	59	2	Flat
£107K	07/23	0.79 mi	9, Barrass Yard, Wakefield, West Yorkshire WF2 8WJ	£1,877	57	2	Flat
£105K	07/23	0.84 mi	18, Mill Chase Gardens, Wakefield, West Yorkshire WF2 9SP	£2,108	50	2	Flat
£110K	03/22	0.87 mi	44, Mill Chase Road, Wakefield, West Yorkshire WF2 9SL	£2,200	50	2	Flat
£88K	07/21	0.87 mi	36, Mill Chase Road, Wakefield, West Yorkshire WF2 9SL	£1,715	51	2	Flat
£100K	05/23	0.87 mi	7, Mill Chase Road, Wakefield, West Yorkshire WF2 9SL	-	-	2	Flat
£90K	11/21	0.87 mi	34, Mill Chase Road, Wakefield, West Yorkshire WF2 9SL	£1,593	56	2	Flat
£112K	12/23	0.92 mi	22, The Rowick, Wakefield, West Yorkshire WF2 9SY	£1,465	76	2	Flat
£79K	11/22	0.93 mi	Apartment 5, Bronte, Woodlands Village, Wakefield, West Yorkshire WF1 5LH	-	-	2	Flat
£75K	02/23	0.96 mi	Apartment 1, Hepworth, Woodlands Village, Wakefield, West Yorkshire WF1 5JQ	-	-	2	Flat
£101K	12/22	0.96 mi	20, The Point, Wakefield, West Yorkshire WF2 9AP	£1,598	63	2	Flat
£108.8K	03/21	0.97 mi	32, The Point, Wakefield, West Yorkshire WF2 9AP	£1,699	64	2	Flat

Local Rents

37 rents from £625/mo to £2K/mo, average is £775/mo.

Rent	Date	Distance	Address	Beds	Type
£725	03/25	0.06 mi	-	2	Flat
£700	02/24	0.08 mi	-	2	Flat
£750	10/24	0.16 mi	Firth House, Wakefield	2	Flat
£625	10/24	0.16 mi	Back Little Westgate, Wakefield, West Yorkshire, UK, WF1	2	Flat
£695	12/23	0.18 mi	-	2	Flat
£750	03/25	0.19 mi	-	2	Flat
£825	10/24	0.22 mi	-	2	Flat
£835	11/24	0.22 mi	-	2	Flat
£675	12/23	0.22 mi	-	2	Flat
£750	10/24	0.24 mi	The Pinnacle, Ings Road, Wakefield, WF1 1DG	2	Flat
£695	11/23	0.25 mi	-	2	Flat
£625	10/24	0.28 mi	Barstow Square, Wakefield, West Yorkshire, WF1	2	Flat
£750	10/24	0.35 mi	-	2	Flat
£700	01/25	0.35 mi	-	2	Flat
£700	01/25	0.35 mi	-	2	Flat
£675	02/25	0.35 mi	-	2	Flat
£850	10/24	0.35 mi	Industrial Street, Wakefield, West Yorkshire, WF1	2	Terraced House
£825	10/24	0.39 mi	Mulberry House, Burgage Square, Wakefield, West Yorkshire WF1	2	Flat
£725	10/24	0.39 mi	Westgate Central, 117 Westgate	2	Flat
£825	10/24	0.42 mi	Mulberry House , Burgage Square, Wakefield, West Yorkshire, WF1	2	Flat
£925	11/23	0.47 mi	-	2	Terraced House
£1,200	03/25	0.48 mi	-	2	Terraced House
£950	10/24	0.48 mi	-	2	Terraced House
£2,050	03/25	0.48 mi	-	2	Terraced House
£1,050	03/25	0.48 mi	-	2	Terraced House
£845	02/24	0.49 mi	-	2	Flat
£925	10/24	0.49 mi	Carnforth Avenue, Wakefield	2	Flat
£675	02/25	0.49 mi	-	2	Flat
£995	10/24	0.5 mi	Carnforth Avenue, Wakefield, WF1 2GD	2	Flat
£800	12/23	0.52 mi	-	2	Flat
£825	10/24	0.52 mi	Hebble Wharf, Navigation Walk, Wakefield, UK, WF1	2	Flat
£850	10/24	0.53 mi	Navigation Walk, WAKEFIELD	2	Flat
£675	02/25	0.53 mi	-	2	Flat
£775	10/24	0.54 mi	Waterside Way, Wakefield, West Yorkshire, WF1	2	Flat
£950	10/24	0.57 mi	Finchdale Close, Wakefield, WF1 2GB	2	Flat
£750	10/24	0.6 mi	Cliff Villa Court, Wakefield, WF1 2DN	2	Flat
£900	10/24	0.6 mi	-	2	Semi-Detached House

Local Area Statistics

Population in WF1	34,12234,122
Population in Wakefield	126,493126,493
Town centre distance	0.92 miles away0.92 miles away
Nearest school	0.30 miles away0.30 miles away
Nearest train station	0.32 miles away0.32 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+24%+24%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+25%+25%

Property History

Listed for £80,000

May 10, 2024

Floor Plans

Description

Cash buyers only +
Two bedrooms +
Wakefield Centre location +
Close to many amenities +
Spacious rooms +

*CASH BUYER ONLY*

To be sold with no onward chain is this two bedroom, 10th floor flat, located in Greenwood House, on George Street in Wakefield. The internal layout of the flat comprises in brief: - entrance hallway, lounge, kitchen, two double bedrooms and a bathroom. Benefits from double glazed windows and electric heating. From the lounge area you have access to a balcony, giving you far reaching views over Wakefield Cathedral and further afield. The block has the benefit of a fully serviced lift. An allocated parking space and garage can be applied for through the council. Greenwood House is in Central Wakefield giving you easy access to all of the amenities Wakefield has to offer. For those who daily commute, Wakefield Train Station is within easy reach. Call Tudor Sales & Lettings on for more information or to arrange a viewing! Estimated Leasehold Serivce charge for 2024 / 2025 is £922.36.

Agent Details

Tudor Sales & Lettings, Garforth

0113 519 3270

Next Steps?

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