2 Bed Flat, Single Let, West Bromwich, B70 9UJ, £130,000

Claypit Lane, West Bromwich, B70 9UJ - 2 views - 10 months ago

Leasehold
BTL
ROI: 8%
~68 m²
+7 photos

ValuationOvervalued

Sold Prices£49K - £131K
Sold Prices/m²£735/m² - £2.7K/m²

 

 

Square Metres

~68.11 m²
Price/m²£1.9K/m²

Value Estimate

£120,256

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£32,500

Stamp Duty & Legal Fees

£5,100

Total Cash In

£37,600

 

 

Cash Out

 

Rent Range

£675 - £1,250

Rent Estimate

£850

Running Costs/mo

£596

Cashflow/mo

£254

Cashflow/yr

£3,045

ROI

8%

Gross Yield

8%

Local Sold Prices

50 sold prices from £49K to £131K, average is £100K. £735/m² to £2.7K/m², average is £1.8K/m².

PriceDateDistanceAddressBeds 
£95K08/220.46 miFlat 17, Poets Court, Old Meeting Street, West Bromwich, West Midlands B70 9AG2
£57K01/210.48 mi35, Creed Way, West Bromwich, West Midlands B70 9JT2
£120K12/210.48 mi52, Creed Way, West Bromwich, West Midlands B70 9JW2
£115K11/220.49 mi56, Creed Way, West Bromwich, West Midlands B70 9JW2
£92.5K06/210.54 miFlat 12, Poets Court, Old Meeting Street, West Bromwich, West Midlands B70 9AG2
£90K02/210.54 miFlat 7, Poets Court, Old Meeting Street, West Bromwich, West Midlands B70 9AG2
£97K12/210.54 miFlat 14, Poets Court, Old Meeting Street, West Bromwich, West Midlands B70 9AG2
£100K10/220.78 mi134, Gladstone Street, West Bromwich, West Midlands B71 1ER2
£78K02/210.78 mi134, Gladstone Street, West Bromwich, West Midlands B71 1ER2
£69.5K10/210.93 mi105, Fisher Street, Great Bridge, Tipton, West Midlands DY4 7ES2
£49K05/230.98 mi48, Brickhouse Lane South, Tipton, West Midlands DY4 7HJ2
£99.8K11/220.99 mi14, Austen Walk, West Bromwich, West Midlands B71 1RD2
£122.5K01/211.04 mi6, Kellner Gardens, Oldbury, West Midlands B69 3DX2
£106K07/221.05 mi36, St Clements Lane, West Bromwich, West Midlands B71 4EU2
£105K07/221.05 mi25, Kellner Gardens, Oldbury, West Midlands B69 3DX2
£101K01/231.05 mi23, Kellner Gardens, Oldbury, West Midlands B69 3DX2
£95K11/221.09 mi124, Wiltshire Way, West Bromwich, West Midlands B71 1JU2
£130K09/221.11 mi5, Bromford Road, Oldbury, West Midlands B69 4BH2
£110K05/231.16 mi9, Westley Court, West Bromwich, West Midlands B71 1HH2
£92K08/211.16 mi35, Westley Court, West Bromwich, West Midlands B71 1HH2
£72K06/211.16 mi78, Peel Way, Tividale, Oldbury, West Midlands B69 3JY2
£120K04/221.16 mi22, Westley Court, West Bromwich, West Midlands B71 1HH2
£116K06/231.18 miApartment 2, Elwell House, Shropshire Way, West Bromwich, West Midlands B71 1BJ2
£80K10/221.19 mi44, Gough Drive, Tipton, West Midlands DY4 7AL2
£112K01/231.19 mi22, Gough Drive, Tipton, West Midlands DY4 7AL2
£95K07/211.2 miFlat 259, Hallam Court, Hallam Street, West Bromwich, West Midlands B71 4HT2
£97K07/211.2 mi6, Waterways Drive, Oldbury, West Midlands B69 2EX2
£103K01/211.21 mi5, Scott Street, Tipton, West Midlands DY4 7AF2
£113.5K11/221.21 mi31, Scott Street, Tipton, West Midlands DY4 7AF2
£131K09/231.22 miApartment 3, Ridgeacre House, Shropshire Way, West Bromwich, West Midlands B71 1BZ2
£87.5K06/211.22 mi16, The Moorings, Oldbury, West Midlands B69 2DD2
£105K11/221.22 mi2, Doughty Close, Tipton, West Midlands DY4 7AJ2
£100K11/221.24 mi38, Church Vale, West Bromwich, West Midlands B71 4DB2
£100K03/211.28 mi28, Summerton Road, Oldbury, West Midlands B69 2GF2
£118K08/231.28 mi88, Scott Street, Tipton, West Midlands DY4 7AG2
£125K03/231.28 mi22, Scott Street, Tipton, West Midlands DY4 7AG2
£95K04/231.28 mi18, Summerton Road, Oldbury, West Midlands B69 2GF2
£85K05/211.28 mi4, Overton Place, West Bromwich, West Midlands B71 1RL2
£67K06/221.29 mi3, Overton Place, West Bromwich, West Midlands B71 1RL2
£95K10/211.29 mi72, Brades Road, Oldbury, West Midlands B69 2FD2
£102K10/211.29 mi72a, Brades Road, Oldbury, West Midlands B69 2FD2
£110K09/221.29 mi5, Barncroft Street, West Bromwich, West Midlands B70 0QJ2
£101K03/231.3 mi55, Mehdi Road, Oldbury, West Midlands B69 2GE2
£96K12/201.3 mi4, Mehdi Road, Oldbury, West Midlands B69 2GE2
£86K03/211.34 mi42, Flash Road, Oldbury, West Midlands B69 4AE2
£90K03/231.38 miFlat 2, Macauley House, Glover Street, West Bromwich, West Midlands B70 6DY2
£104K12/221.43 mi4, Hamilton Road, Tipton, West Midlands DY4 0JB2
£62.5K08/221.44 mi19a, Jesson Street, West Bromwich, West Midlands B70 6PR2
£105K12/221.46 mi12, Princes Gate, West Bromwich, West Midlands B70 6HU2
£101.5K04/211.46 mi43, Princes Gate, West Bromwich, West Midlands B70 6HU2

Local Rents

51 rents from £675/mo to £1.3K/mo, average is £950/mo.

RentDateDistanceAddressBeds 
£90002/250 mi-2
£90012/240.2 miHayes Street, West Bromwich2
£1,00004/240.33 mi-2
£1,00012/240.33 miLiberty Lane, West Bromwich, B702
£1,00012/240.33 mi-2
£90001/240.39 mi-2
£90001/240.39 mi-2
£79512/240.39 miCarters Green, WEST BROMWICH2
£1,20004/250.56 mi-2
£94504/250.63 mi-2
£90012/240.66 mi-2
£95011/240.66 mi-2
£90002/250.66 mi-2
£85003/240.7 miWhitehall Road, Tipton, West Midlands, DY42
£95003/240.71 mi-2
£92512/240.73 miMargaret Street, West Bromwich, West Midlands, B70 8LE2
£1,00001/250.74 mi-2
£1,00002/250.76 mi-2
£1,10001/250.76 mi-2
£1,25012/240.76 mi-2
£1,00001/250.76 mi-2
£1,00001/250.76 mi-2
£1,00001/250.76 mi-2
£1,10002/250.76 mi-2
£1,25004/250.76 mi-2
£1,00002/250.76 mi-2
£1,00004/250.76 mi-2
£1,10004/250.76 mi-2
£1,10004/250.76 mi-2
£97012/240.77 miVictoria Street, WEST BROMWICH2
£1,10012/240.77 mi-2
£95004/250.77 mi-2
£82512/240.78 miWest Gate Plaza, West Bromwich2
£1,00004/250.78 mi-2
£89505/240.87 mi-2
£85002/240.95 mi-2
£87512/240.95 mi-2
£95004/250.95 mi-2
£77504/250.95 mi-2
£97502/250.97 mi-2
£67503/240.98 miBrickhouse Lane South, Tipton2
£90005/240.98 miBrickhouse Lane South, TIPTON2
£90012/240.98 miGrafton Road, West Bromwich, West Midlands, B712
£85012/241.02 miThe Crossing, Oldbury, West Midlands, B692
£1,10004/251.03 mi-2
£1,00001/241.04 mi-2
£97512/241.04 miSt. Clements Lane, WEST BROMWICH2
£95012/241.04 miSt. Clements Lane, WEST BROMWICH2
£1,10005/241.06 miThomas Cox Wharf, Tipton, West Midlands, DY42
£80012/241.07 miBell Street, WEST BROMWICH2
£80004/241.08 miMarket Place, Great Bridge, TIPTON2

Local Area Statistics

Population in B70

27,772

Population in West Bromwich

58,705

Town centre distance

0.83 miles away

Nearest school

0.10 miles away

Nearest train station

0.25 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+13%

Sales demand

Balanced market

Capital growth (5yrs)

+33%

Property History

Listed for £130,000

June 19, 2024

Floor Plans

Description

  • MODERN DEVELOPMENT +
  • OFF ROAD PARKING WITH VISITOR BAYS +
  • EN SUITE TO MASTER +
  • LARGE OPEN PLAN LIVING SPACE +
  • WALKING DISTANCE TO THE TOWN CENTRE +
  • MAJOR BUS LINKS ON CLAYPIT LANE +
  • TENANT IN SITU +

SUMMARY
This modern two bedroom apartment is situated on the first floor and comes with a good amount of lease remaining at 118 years. The apartment comes with an ensuite to the master, balcony and central heating. This is a great purchase for an investor. Being sold with tenant in situ.

DESCRIPTION
Located on the recently built Golden Park development by Kier Homes this apartment still has several years remaining on the NHBC warranty. Also holding a lease of approximately 118 years, this would make a fantastic rental property with others in the building being rented at £850pcm, Local shops and parks are nearby along with the amenities of West Bromwich Town Centre being approx 0.5 miles away. Buyers can expect to see an entrance hallway accessed via a communal hallway, through lounge/diner, modern fitted kitchen with some integral appliances, two double bedrooms with an en-suite to the master, family bathroom, outside space in the form of a balcony and one allocated parking space.

Entrance Hall 
Door from communal hall, storage cupboard and radiator.

Lounge/Dining Room 10' 10" x 19' 1" ( 3.30m x 5.82m )
Double glazed windows to the front and rear, TV and telephone points, radiator and double glazed door to the front providing access to the balcony.

Kitchen 5' 9" x 10' ( 1.75m x 3.05m )
Fitted kitchen compromising of a range of wall and base units with work surfaces over, stainless steel sink and drainer, integrated electric oven, gas hob with cooker hood over, space and plumbing for washing machine, boiler and double glazed to the rear,

Bedroom One 13' 8" x 11' 1" ( 4.17m x 3.38m )
Double glazed window to the front, TV and telephone points, radiator and built in wardrobes.

Bedroom Two 8' 6" x 13' 7" ( 2.59m x 4.14m )
Double glazed window to the front and radiator.

En Suite 
Fitted shower cubicle, wash hand basin, WC and heated towel rail.

Bathroom 
Double glazed window to the rear, bath with shower over, part tiled, wash hand basin, WC, wash hand basin and radiator.

We currently hold lease details as displayed above, should you require further information please contact the branch. Please note additional fees could be incurred for items such as leasehold packs.

1. MONEY LAUNDERING REGULATIONS - Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2: These particulars do not constitute part or all of an offer or contract.
3: The measurements indicated are supplied for guidance only and as such must be considered incorrect.
4: Potential buyers are advised to recheck the measurements before committing to any expense.
5: Connells has not tested any apparatus, equipment, fixtures, fittings or services and it is the buyers interests to check the working condition of any appliances.
6: Connells has not sought to verify the legal title of the property and the buyers must obtain verification from their solicitor.

Agent Details

Connells, West Bromwich

0121 387 6299

Next Steps?

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