2 Bed Flat, Single Let, Leominster, HR6 8EP, £63,000

Flat 3, 29 West Street, Leominster, HR6 8EP - a year ago

Leasehold
BTL
ROI: 8%
~68 m²
+1 photos

ValuationUndervalued

Sold Prices£55K - £235K
Sold Prices/m²£1.3K/m² - £4.1K/m²

 

 

Square Metres

~68.11 m²
Price/m²£925/m²

Value Estimate

£75,600
BMV20%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£15,750

Stamp Duty & Legal Fees

£3,090

Total Cash In

£18,840

 

 

Cash Out

 

Rent Range

£375 - £2,500

Rent Estimate

£430

Running Costs/mo

£303

Cashflow/mo

£127

Cashflow/yr

£1,526

ROI

8%

Gross Yield

8%

Local Sold Prices

15 sold prices from £55K to £235K, average is £105K. £1.3K/m² to £4.1K/m², average is £2.1K/m².

PriceDateDistanceAddressBeds 
£105K08/220.13 miFlat 23, Townsend Court, Green Lane, Leominster, Herefordshire HR6 8TD2
£103.5K07/210.14 miFlat 4, Townsend Court, Green Lane, Leominster, Herefordshire HR6 8TD2
£105K12/200.14 miFlat 3, Townsend Court, Green Lane, Leominster, Herefordshire HR6 8TD2
£103K06/230.14 miFlat 3, Townsend Court, Green Lane, Leominster, Herefordshire HR6 8TD2
£100K09/210.16 miFlat 30, Townsend Court, Green Lane, Leominster, Hereford And Worcester HR6 8TD2
£103.5K07/210.16 miFlat 4, Townsend Court, Green Lane, Leominster, Herefordshire HR6 8TD2
£107K11/210.19 miFlat 16, Townsend Court, Green Lane, Leominster, Herefordshire HR6 8TD2
£89K02/210.2 miFlat 2, Waterloo Rooms, Vicarage Street, Leominster, Herefordshire HR6 8DS2
£119K07/210.2 mi44a, Etnam Street, Leominster, Herefordshire HR6 8AQ2
£55K01/220.24 mi5, Bridge Court, Leominster, Herefordshire HR6 8HX2
£65K06/220.24 mi19, Bridge Court, Leominster, Herefordshire HR6 8HX2
£122K08/210.24 mi9, Kenelm Court, Leominster, Herefordshire HR6 8PZ2
£210K05/210.34 miBraemar, Green Lane, Leominster, Herefordshire HR6 8QN2
£235K05/210.61 mi38, Buckfield Road, Leominster, Herefordshire HR6 8SF2
£225K06/210.66 mi90, Buckfield Road, Leominster, Herefordshire HR6 8SQ2

Local Rents

31 rents from £375/mo to £2.5K/mo, average is £675/mo.

RentDateDistanceAddressBeds 
£65004/240.03 mi-2
£67503/240.03 mi-2
£60011/230.04 mi-1
£1,10007/230.06 mi-3
£75005/240.07 miSouth Street, Leominster, HR62
£99505/240.08 miBurgess Street, Leominster3
£52506/240.11 mi21, High Street, Leominster2
£60005/240.12 miChurch Street, Leominster2
£37506/230.13 mi-1
£1,10008/230.13 mi-3
£52507/230.14 mi-1
£47507/230.14 mi-1
£52503/240.19 mi-1
£47504/240.19 mi-1
£55004/250.19 mi-1
£47502/240.19 mi-1
£80009/240.2 mi-2
£49506/230.26 mi-1
£1,25006/240.34 miGreen Lane, Leominster3
£75004/240.34 miCaswell Road, Leominster3
£62512/240.5 mi-1
£85002/240.5 mi-2
£62502/240.71 mi-1
£62502/240.71 mi-1
£1,25004/240.8 miNorth Road, Leominster3
£1,30011/240.83 mi-3
£1,30004/240.86 mi-4
£70004/240.99 miBlanchard Close, Leominster2
£85004/241.01 miStoke Prior Lane, Leominster2
£2,50003/241.87 miGoldings, Old Hop Yard, Brierley, HR6 0RN3
£80005/241.99 miKimbolton, Leominster3

Local Area Statistics

Population in HR6

20,507

Population in Leominster

20,525

Town centre distance

0.26 miles away

Nearest school

0.20 miles away

Nearest train station

0.46 miles away

 

 

Rental growth (12m)

+13%

Sales demand

Buyer's market

Capital growth (5yrs)

+36%

Property History

Listed for £63,000

May 10, 2024

Floor Plans

Description

  • Investment opportunity +
  • Two bedroom flat +
  • Yield of 8.2% +
  • Currently tenanted +
  • Centre of town location +

Situated within the centre of the market town of Leominster is this two bedroom, first floor flat. The property is currently tenanted and achieving an income of £420 pcm. The flat would make an ideal first time buy or investment with a yield of 8.2%. THE PROPERTY WILL BE SOLD WITH VACANT POSSESSION

Introduction - A first floor flat within the town of Leominster which has accommodation comprising; open plan living room/kitchen, two double bedrooms and a bathroom. The flat is currently tenanted achieving an income of 430 pcm. The property will be sold with vacant possession.

Property Description - The main door opens into the open plan kitchen/living room where there are two windows allowing natural light to flow through the room and shelving. The kitchen area is fitted with wall and base units with a stainless steel sink. There is space for a fridge freezer and electric cooker. Both of the bedrooms are double sized each with a sash window. The bathroom is fitted with a WC, basin and bath. There is a cupboard in the hall which houses the hot water tank.

Location - The flat is located within the centre of the town of Leominster town centre. This is a popular market town and boasts a wealth of local shops, a weekly open air market, national supermarkets and a host of recreational facilities.
Transport facilities are ample with good road links to larger towns and regular bus and train routes. Hereford City is located approximately 12 miles away and offers extensive entertainment and leisure facilities and a wide range of national and chain stores.

Services - Mains electricity, water and drainage are connected.
Herefordshire Council Tax Band A

Agents Note - In accordance with The Money Laundering Regulations 2007, Cobb Amos are required to carry out customer due diligence checks by identifying the customer and verifying the customer’s identity on the basis of documents, data or information obtained from a reliable and independent source. At the point of your offer being verbally accepted, you agree to paying a non-refundable fee of £10 +VAT (£12.00 inc. VAT) per purchaser in order for us to carry out our due diligence.

Agent Details

Cobb Amos, Leominster

01568 605225

Next Steps?

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