5 Bed HMO, Birmingham, B29 7AF £395,000

77 Dawlish Road, Birmingham, West Midlands, B29 7AF - 11 views - a year ago

Sold STC

HMO

Refurb/BRRR

ROI: 3%

105 m²

ValuationOvervalued

Sold Prices	£228K - £1.9M
Sold Prices/m²	£1.8K/m² - £7.6K/m²

Square Metres	105 m²
Price/m²	£3.8K/m²
Value Estimate	£328,000£328,000

End Value (After Refurb)	£349,448£349,448

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£98,750£98,750
Stamp Duty & Legal Fees	£20,300£20,300
Refurb Costs	£41,588£41,588
Bridging Loan Interest	£10,369£10,369
Total Cash In	£172,757£172,757

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£349,448£349,448
Mortgage (After Refinance)	£262,086£262,086
Mortgage LTV	75%75%
Cash Left In	£172,757£172,757
Equity	£87,362£87,362
Room Rate	£542£542
Gross Rent	£2,710
Running Costs/mo	£2,242£2,242
Cashflow/mo	£468£468
Cashflow/yr	£5,611£5,611
ROI	3%3%
Gross Yield	8%8%

Local Sold Prices

32 sold prices from £228K to £1.9M, average is £625K. £1.8K/m² to £7.6K/m², average is £3.5K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£375K	01/25	0.13 mi	13, St Edwards Road, Birmingham, West Midlands B29 7DJ	£2,885	130	5	Terraced House
£550K	12/23	0.29 mi	30, Serpentine Road, Selly Oak, Birmingham B29 7HU	£3,986	138	5	Detached House
£550K	12/23	0.29 mi	30, Serpentine Road, Selly Oak, Birmingham B29 7HU	-	-	5	Detached House
£550K	12/23	0.29 mi	30, Serpentine Road, Selly Oak, Birmingham B29 7HU	£3,986	138	5	Detached House
£685K	10/22	0.32 mi	42, Serpentine Road, Selly Park, Birmingham, West Midlands B29 7HU	-	-	5	Detached House
£710K	03/22	0.4 mi	344, Bristol Road, Edgbaston, Birmingham B5 7SN	-	-	5	Detached House
£400K	06/21	0.4 mi	216, Hubert Road, Selly Oak, Birmingham, West Midlands B29 6EP	£3,279	122	5	Terraced House
£819K	03/25	0.42 mi	95, Oakfield Road, Selly Oak, Birmingham B29 7HL	-	-	5	Detached House
£630K	03/22	0.43 mi	336, Bristol Road, Edgbaston, Birmingham B5 7SN	£5,431	116	5	Detached House
£630K	03/22	0.43 mi	336, Bristol Road, Edgbaston, Birmingham B5 7SN	-	-	5	Detached House
£260K	07/21	0.45 mi	278, Hubert Road, Selly Oak, Birmingham, West Midlands B29 6EP	£3,333	78	5	Terraced House
£730K	02/23	0.46 mi	142, Selly Park Road, Selly Park, Birmingham, West Midlands B29 7LH	-	-	5	Detached House
£630K	03/22	0.48 mi	336, Bristol Road, Birmingham, West Midlands B5 7SN	-	-	5	Detached House
£710K	03/22	0.49 mi	344, Bristol Road, Birmingham, West Midlands B5 7SN	£3,777	188	5	House
£795.5K	05/23	0.51 mi	41a, Upland Road, Selly Park, Birmingham, West Midlands B29 7JS	-	-	5	Detached House
£532.5K	11/24	0.56 mi	9, Frederick Road, Selly Oak, Birmingham B29 6NX	£3,526	151	5	Semi-Detached House
£228K	02/23	0.56 mi	28, Rachel Gardens, Birmingham, West Midlands B29 6NY	£2,714	84	5	Terraced House
£900K	08/22	0.62 mi	15, Selly Wick Road, Selly Park, Birmingham, West Midlands B29 7JJ	-	-	5	Detached House
£620K	06/21	0.69 mi	49, Selly Park Road, Selly Park, Birmingham, West Midlands B29 7PH	-	-	5	Semi-Detached House
£1.9M	07/24	0.71 mi	84, Farquhar Road, Edgbaston, Birmingham B15 2QJ	£7,560	248	5	Detached House
£1.9M	07/24	0.71 mi	84, Farquhar Road, Edgbaston, Birmingham B15 2QJ	-	-	5	Detached House
£377.5K	11/24	0.72 mi	479, Harborne Park Road, Birmingham, West Midlands B17 0PS	£3,528	107	5	Terraced House
£377.5K	11/24	0.73 mi	479, Harborne Park Road, Birmingham B17 0PS	-	-	5	Detached House
£425K	10/23	0.73 mi	911, Bristol Road, Selly Oak, Birmingham B29 6ND	£2,083	204	5	Detached House
£294K	05/21	0.74 mi	146, Lodge Hill Road, Birmingham, West Midlands B29 6NG	£2,882	102	5	Semi-Detached House
£383.3K	01/23	0.77 mi	6, Brookvale Mews, Selly Park, Birmingham, West Midlands B29 7HP	£2,590	148	5	Terraced House
£760K	07/24	0.79 mi	57, Woodlands Drive, Birmingham B29 6TU	£4,153	183	5	Detached House
£760K	07/24	0.79 mi	57, Woodlands Drive, Birmingham B29 6TU	-	-	5	Detached House
£745K	03/25	0.8 mi	142, Oak Tree Lane, Bournville, Birmingham B29 6HU	£4,488	166	5	Semi-Detached House
£745K	03/25	0.8 mi	142, Oak Tree Lane, Bournville, Birmingham B29 6HU	-	-	5	Semi-Detached House
£280K	06/21	0.82 mi	960, Pershore Road, Selly Park, Birmingham, West Midlands B29 7PU	£1,818	154	5	Terraced House
£570K	08/23	0.91 mi	51, Weoley Park Road, Selly Oak, Birmingham, West Midlands B29 6QZ	-	-	5	Semi-Detached House

Local Area Statistics

Population in B29	42,51242,512
Population in Birmingham	1,034,8211,034,821
Town centre distance	2.59 miles away2.59 miles away
Nearest school	0.10 miles away0.10 miles away
Nearest train station	0.29 miles away0.29 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	-56%-56%
Sales demand	Seller's marketSeller's market
Capital growth (5yrs)	+30%+30%

Property History

Listed for £395,000

June 12, 2024

Sold for £184,250

2008

Sold for £61,000

2000

Description

Investment +
Renovation oppotunity +
Currently 5 bedrooms +
HMO +
COLU approved +
Prime Location +

A 5-bedroom, 2-bathroom HMO investment property, perfectly situated in a highly sought-after area for students. Boasting an impressive current rental income of £32,500 per annum, this property presents a perfect opportunity for investors.

The property is currently set over 3 floors and has the added bonus of a basement.

Prime Location: Nestled in a fantastic area for students, this property ensures high demand with close proximity to the University of Birmingham, public transport, and amenities.

Potential for Expansion: A significant highlight is the potential to transform this property into a 6-bedroom HMO. The existing ground floor extension to the rear of the property provides a solid foundation for further development. Adding an additional bedroom and carrying out renovations could substantially increase rental income and overall property value.

Rental Income: Currently generating £32,500 per annum (Bills included), this property promises stable returns. With strategic improvements, there is potential to further enhance rental yields.

Cetificate of Lawful Use has been applied for.

Council Tax Band B.

Agent Details

PURPLE FROG ASSET MANAGEMENT LIMITED, Birmingham

020 3514 1592

Next Steps?

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

Similar Properties

Like this property? Maybe you'll like these ones close by too.

6 Bed House, Refurb/BRRR, Birmingham, B29 6AG

£395,000

19 views • 4 months ago • 186 m²

Sold STC

7 Bed House, Refurb/BRRR, Birmingham, B29 6BT

£380,000

20 views • 5 months ago • 217 m²

7 Bed House, Refurb/BRRR, Birmingham, B29 7BA

£455,000

18 views • 3 months ago • 217 m²

6 Bed House, Refurb/BRRR, Birmingham, B29 6EJ