2 Bed Terraced House, Refurb/BRRR, Birmingham, B32 2PB, £160,000

7, Tedstone Road, Quinton, Birmingham, B32 2PB - 5 views - 10 months ago

Sold STC
Leasehold
Refurb/BRRR
ROI: 4%
~68 m²
+5 photos

ValuationUndervalued

Sold Prices£140K - £375K
Sold Prices/m²£1.9K/m² - £5.4K/m²

 

 

Square Metres

~68.11 m²
Price/m²£2.3K/m²

Value Estimate

£171,700
BMV1%

 

 

End Value (After Refurb)

£178,605

Uplift in Value

+5%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£40,000

Stamp Duty & Legal Fees

£6,300

Refurb Costs

£26,951

Bridging Loan Interest

£4,200

Total Cash In

£79,201

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£178,605

Mortgage (After Refinance)

£133,953

Mortgage LTV

75%

Cash Released

£13,953

Cash Left In

£65,248

Equity

£44,651

Rent Range

£900 - £1,400

Rent Estimate

£1,032

Running Costs/mo

£785

Cashflow/mo

£247

Cashflow/yr

£2,970

ROI

4%

Gross Yield

8%

Local Sold Prices

50 sold prices from £140K to £375K, average is £227.5K. £1.9K/m² to £5.4K/m², average is £3.3K/m².

PriceDateDistanceAddressBeds 
£140K05/210.1 mi12, Firsby Road, Birmingham, West Midlands B32 2QX2
£166K04/210.16 mi83, Overdale Road, Birmingham, West Midlands B32 2QR2
£210K11/230.18 mi55, Bolney Road, Quinton, Birmingham, West Midlands B32 2PU2
£188K05/210.22 mi230, White Road, Quinton, Birmingham, West Midlands B32 2SZ2
£220K02/230.22 mi236, White Road, Quinton, Birmingham, West Midlands B32 2SZ2
£147K12/210.24 mi21, Math Meadow, Birmingham, West Midlands B32 2NU2
£173K08/230.24 mi8, Dufton Road, Quinton, Birmingham, West Midlands B32 2PZ2
£141.5K11/200.26 mi7, Lygon Grove, Quinton, Birmingham, West Midlands B32 2RA2
£144K02/230.26 mi20, Lygon Grove, Quinton, Birmingham, West Midlands B32 2RA2
£164K01/230.27 mi76, Blandford Road, Birmingham, West Midlands B32 2LP2
£170K10/230.27 mi58, Blandford Road, Birmingham, West Midlands B32 2LP2
£236K04/230.27 mi84, Blandford Road, Birmingham, West Midlands B32 2LP2
£195K04/230.28 mi223, Overdale Road, Quinton, Birmingham, West Midlands B32 2RD2
£150K07/210.29 mi3, Hunslet Road, Birmingham, West Midlands B32 2PL2
£183K03/210.33 mi33, Lower White Road, Birmingham, West Midlands B32 2RT2
£153K03/210.35 mi452, West Boulevard, Birmingham, West Midlands B32 2PJ2
£140K09/210.39 mi166, Worlds End Lane, Birmingham, West Midlands B32 1JU2
£187K08/230.39 mi166, Worlds End Lane, Quinton, Birmingham, West Midlands B32 1JU2
£155K06/210.39 mi178, Worlds End Lane, Quinton, Birmingham, West Midlands B32 1JU2
£375K08/230.4 mi109, Queens Park Road, Birmingham, West Midlands B32 2LB2
£346K01/230.42 mi93, Queens Park Road, Birmingham, West Midlands B32 2LB2
£188.8K08/230.47 mi227, Quinton Road West, Quinton, Birmingham, West Midlands B32 2RJ2
£225K06/210.49 mi28, Hampton Court Road, Birmingham, West Midlands B17 9AE2
£262.5K12/230.5 mi152, Balden Road, Harborne, Birmingham, West Midlands B32 2EP2
£240K05/230.5 mi134, Balden Road, Harborne, Birmingham, West Midlands B32 2EP2
£240K12/200.56 mi76, Hampton Court Road, Birmingham, West Midlands B17 9AF2
£270K12/220.56 mi29, Hampton Court Road, Birmingham, West Midlands B17 9AF2
£192K05/240.56 mi49, Thornhurst Avenue, Quinton, Birmingham, West Midlands B32 2AZ2
£265K12/200.56 mi39, Thornhurst Avenue, Quinton, Birmingham, West Midlands B32 2AZ2
£162.5K03/210.56 mi44, Thornhurst Avenue, Quinton, Birmingham, West Midlands B32 2AZ2
£230K03/210.58 mi2, Beech Avenue, Quinton, Birmingham, West Midlands B32 2UB2
£299.9K12/220.59 mi35, Earls Court Road, Birmingham, West Midlands B17 9AH2
£287K08/210.59 mi54, Earls Court Road, Birmingham, West Midlands B17 9AH2
£250K05/210.59 mi65, Earls Court Road, Birmingham, West Midlands B17 9AH2
£255K03/210.6 mi73, Aubrey Road, Quinton, Birmingham, West Midlands B32 2BA2
£163K12/230.6 mi148, Simmons Drive, Quinton, Birmingham, West Midlands B32 1SS2
£315K06/230.6 mi27, Earls Court Road, Birmingham, West Midlands B17 9AH2
£300K05/230.6 mi56, Earls Court Road, Birmingham, West Midlands B17 9AH2
£325K03/210.6 mi55, Earls Court Road, Birmingham, West Midlands B17 9AH2
£282K02/230.6 mi120, Hampton Court Road, Birmingham, West Midlands B17 9AG2
£261K11/200.61 mi65, Hampton Court Road, Birmingham, West Midlands B17 9AG2
£261K11/200.61 mi65, Hampton Court Road, Birmingham, West Midlands B17 9AG2
£191K04/210.64 mi72, Fredas Grove, Harborne, Birmingham, West Midlands B17 0SY2
£355K06/210.65 mi17, Oak Close, Birmingham, West Midlands B17 9AW2
£257.5K02/210.67 mi34, Northfield Road, Harborne, Birmingham, West Midlands B17 0SU2
£180K09/230.68 mi98a, Ridgacre Lane, Quinton, Birmingham, West Midlands B32 1PT2
£285K05/230.68 mi11, Northfield Road, Harborne, Birmingham, West Midlands B17 0ST2
£230K05/210.68 mi55, Northfield Road, Harborne, Birmingham, West Midlands B17 0ST2
£260K05/230.68 mi55, Northfield Road, Harborne, Birmingham, West Midlands B17 0ST2
£246K03/210.68 mi67, Northfield Road, Harborne, Birmingham, West Midlands B17 0ST2

Local Rents

25 rents from £900/mo to £1.4K/mo, average is £1K/mo.

RentDateDistanceAddressBeds 
£1,40002/250.13 mi-2
£95002/240.17 mi-2
£95002/240.17 mi-2
£1,05002/240.18 mi-2
£90003/250.2 mi-2
£90012/240.23 miMath Meadow, Birmingham2
£1,10012/240.24 miDufton Road, Quinton, BIRMINGHAM2
£1,05012/240.28 miWisley Way, Birmingham2
£92512/240.28 miBlandford Road, Quinton, Birmingham, B32 2LP2
£1,05012/240.28 miQuinton Road West, Birmingham, West Midlands, B322
£1,09512/240.28 miQuinton Road West, Birmingham, West Midlands, B322
£1,00012/240.34 miWorlds End Lane, Quinton2
£97512/240.34 miWorlds End Lane, Quinton2
£1,10012/240.34 miWorlds End Lane, Quinton2
£97512/240.34 miWorlds End Lane, Quinton2
£1,10012/240.34 miWorlds End Lane, Quinton2
£1,15012/240.49 miCourt Oak Road, Harborne, B172
£99512/240.49 miHampton Court Road, Harborne, Birmingham, B17 9AE2
£97501/240.5 mi-2
£1,15012/240.5 miBalden Road, Harborne2
£1,00012/240.5 miHampton Court Road, Harborne, Birmingham, B172
£1,00012/240.5 miHampton Court Road, Harborne, Birmingham, B172
£1,15012/240.54 miHampton Court Road, Harborne, B172
£1,10012/240.56 miHampton Court Road, Harborne2
£1,00012/240.57 miCourt Oak Road, Harbrone, B172

Local Area Statistics

Population in B32

38,356

Population in Birmingham

1,034,821

Town centre distance

4.31 miles away

Nearest school

0.20 miles away

Nearest train station

1.97 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+5%

Sales demand

Balanced market

Capital growth (5yrs)

+35%

Property History

Price changed to £160,000

December 4, 2024

Listed for £170,000

May 22, 2024

Floor Plans

Description

  • TERRACED HOUSE IN NEED OF MODERNISATION AND IMPROVEMENT +
  • KITCHEN DINER AND LOUNGE +
  • DOWNSTAIRS W.C. AND BATHROOM WITH SHOWER CUBICLE +
  • TWO DOUBLE BEDROOMS +
  • DRIVEWAY +
  • NO UPWARD CHAIN +

An opportunity to acquire a two bedroom mid terraced property with off road parking. The property requires modernisation and improvement but offers potential. NO UPWARD CHAIN.

Accommodation comprising; Entrance hall, lounge, understairs store, kitchen/diner, downstairs w.c., pantry/store, landing, two good sized bedrooms, bathroom with shower cubicle, rear garden, gas boiler serving radiators, double glazing to windows as detailed.

ENTRANCE HALL (Inner/Front)
Panel radiator, staircase off to first floor landing, coat hooks to wall, single glazed door to front. Door opening onto:

LOUNGE (Front) 3.62m max (3.37m) x 4.27m
Three double glazed windows to front, fire with fire surround, panel radiator. STORE CUPBOARD opening off understairs. Door from lounge opening onto:

KITCHEN/DINER (Rear) 3.68m x 2.85m
Two double glazed windows and double glazed door onto rear garden, panel radiator, base units with cupboards and drawers, complementary work tops, bowl and half single drainer sink with mixer tap, plumbing for washing machine, cooker ‘four’ ring gas hob, cooker hood above, wall mounted storage cupboards at high level. PANTRY with double glazed window to side. Wall mounted ‘Worcester’ gas boiler, electric and gas meters.

DOWNSTAIRS W.C.
W.C. with push button flush, obscure double glazed window, tiled floor and wall tiled.

Staircase from ground floor reception hall leading off to:

FIRST FLOOR LANDING (Inner)

STORE CUPBOARD

BEDROOM ONE (Front) 3.31m (3.68m) plus recess 5.24m max in recess x 3.27m
Double glazed window, panel radiator.

BEDROOM TWO (Rear) 2.71m (2.34m) x 3.90m
Double glazed window, panel radiator.

BATHROOM with SHOWER CUBICLE 2.42m x 2.91m max.
Double glazed window, panel radiator, shower cubicle (part tiled), electric shower, panel bath, pedestal wash hand basin, w.c., walls tiled to approximately half wall height, wall mounted electric heater.

REAR GARDEN
Paved patio area with steps up to lawn, further patio, garden shed, garden fencing. Shared entry giving access to front.

COUNCIL TAX BAND B

TENURE:
The property is currently leasehold. The vendors have agreed to acquire the freehold and it is their intention to sell the property freehold upon completion. The buyer is advised to obtain verification from their Solicitor or Surveyor.

VIEWING:
Strictly by prior appointment via agents.

REVISION 1 GTS 21/05/24

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.

Extra Services & Aml - 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.

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Agent Details

Scriven & Co, Quinton

0121 387 6435

Next Steps?

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