3 Bed Terraced House, Refurb/BRRR, Blackpool, FY2 9JF, £125,000

Melville Road, BLACKPOOL, Lancashire, FY2 9JF - 6 views - 9 months ago

Refurb/BRRR

ROI: 4%

~98 m²

+11 photos

ValuationUndervalued

Sold Prices	£65K - £537K
Sold Prices/m²	£520/m² - £2.4K/m²

Square Metres	~98 m²
Price/m²	£1.3K/m²
Value Estimate	£128,750£128,750
BMV	3%

End Value (After Refurb)	£144,118£144,118
Uplift in Value	+15%+15%

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£31,250£31,250
Stamp Duty & Legal Fees	£4,950£4,950
Refurb Costs	£40,043£40,043
Bridging Loan Interest	£3,281£3,281
Total Cash In	£81,274£81,274

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£144,118£144,118
Mortgage (After Refinance)	£108,088£108,088
Mortgage LTV	75%75%
Cash Released	£14,338£14,338
Cash Left In	£66,936£66,936
Equity	£36,029£36,029
Rent Range	£650 - £1,250£650 - £1,250
Rent Estimate	£967
Running Costs/mo	£664£664
Cashflow/mo	£303£303
Cashflow/yr	£3,639£3,639
ROI	4%4%
Gross Yield	9%9%

Local Sold Prices

50 sold prices from £65K to £537K, average is £143K. £520/m² to £2.4K/m², average is £1.6K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£128K	12/22	0.05 mi	35, Melville Road, Bispham, Blackpool FY2 9JF	£1,506	85	3	Semi-Detached House
£132K	10/20	0.05 mi	12, England Avenue, Bispham, Blackpool FY2 9JG	£1,200	110	3	Detached House
£180K	11/20	0.06 mi	37, England Avenue, Blackpool FY2 9JE	-	-	3	Detached House
£195K	06/23	0.07 mi	30, Beaufort Avenue, Bispham, Blackpool FY2 9HG	-	-	3	Detached House
£141K	06/23	0.1 mi	47, Sandhurst Avenue, Bispham, Blackpool FY2 9EB	£1,785	79	3	Semi-Detached House
£120K	06/23	0.1 mi	51, Sandhurst Avenue, Bispham, Blackpool FY2 9EB	£1,739	69	3	Semi-Detached House
£138K	09/21	0.13 mi	124, Cavendish Road, Blackpool FY2 9EG	£1,643	84	3	Terraced House
£109K	02/21	0.13 mi	142, Cavendish Road, Bispham, Blackpool FY2 9EG	£1,160	94	3	Terraced House
£160K	01/23	0.14 mi	62, Cavendish Road, Bispham, Blackpool FY2 9NJ	£1,778	90	3	Terraced House
£113K	10/21	0.14 mi	97, Cavendish Road, Blackpool FY2 9NJ	£1,314	86	3	Terraced House
£100.5K	05/23	0.14 mi	72, Cavendish Road, Bispham, Blackpool FY2 9NJ	£1,139	88	3	Semi-Detached House
£168K	02/23	0.16 mi	13, Sunny Bank Avenue, Bispham, Blackpool FY2 9EQ	£1,615	104	3	Semi-Detached House
£218.5K	12/20	0.17 mi	15, Sandhurst Avenue, Blackpool FY2 9AU	£1,655	132	3	Semi-Detached House
£170K	10/22	0.17 mi	22, Sandhurst Avenue, Bispham, Blackpool FY2 9AU	-	-	3	Terraced House
£128.5K	02/21	0.17 mi	225, Red Bank Road, Blackpool FY2 9EA	£1,444	89	3	Semi-Detached House
£115K	01/21	0.17 mi	55, Sunny Bank Avenue, Bispham, Blackpool FY2 9NF	£1,337	86	3	Terraced House
£175K	09/21	0.17 mi	79, Sunny Bank Avenue, Blackpool FY2 9NF	£1,750	100	3	Semi-Detached House
£157K	09/21	0.19 mi	4, Daventry Avenue, Blackpool FY2 9LB	-	-	3	Terraced House
£163K	01/23	0.19 mi	288, Warbreck Drive, Bispham, Blackpool FY2 9LD	-	-	3	Semi-Detached House
£125K	10/21	0.19 mi	5, Rivington Avenue, Bispham, Blackpool FY2 9ER	-	-	3	Semi-Detached House
£167K	12/22	0.2 mi	36, Montpelier Avenue, Bispham, Blackpool FY2 9AE	£2,197	76	3	Semi-Detached House
£164.9K	11/20	0.2 mi	7, Landseer Avenue, Blackpool FY2 9EF	£1,556	106	3	Semi-Detached House
£121K	10/21	0.21 mi	194, Red Bank Road, Blackpool FY2 9ET	£1,199	101	3	Semi-Detached House
£65K	03/21	0.21 mi	184, Red Bank Road, Bispham, Blackpool FY2 9ET	£520	125	3	Terraced House
£190K	01/23	0.22 mi	204, Cavendish Road, Bispham, Blackpool FY2 9EE	-	-	3	Semi-Detached House
£110K	07/21	0.22 mi	66, Bryning Avenue, Bispham, Blackpool FY2 9LZ	-	-	3	Semi-Detached House
£537K	09/22	0.23 mi	290, Queens Promenade, Bispham, Blackpool FY2 9AZ	£2,395	224	3	Detached House
£163K	11/20	0.24 mi	12, Northgate, Bispham, Blackpool FY2 9NL	£1,852	88	3	Semi-Detached House
£164.9K	02/21	0.25 mi	17, Leyburn Avenue, Blackpool FY2 9AQ	£1,853	89	3	Semi-Detached House
£115K	10/21	0.26 mi	146, Norcliffe Road, Bispham, Blackpool FY2 9EW	-	-	3	Semi-Detached House
£96.5K	05/21	0.27 mi	196, Red Bank Road, Blackpool FY2 9ET	£1,005	96	3	Terraced House
£132.5K	12/20	0.27 mi	6, Bethel Avenue, Blackpool FY2 9NA	£1,840	72	3	Semi-Detached House
£124K	03/21	0.27 mi	9, Bethel Avenue, Blackpool FY2 9NA	£1,813	68	3	Semi-Detached House
£135K	05/21	0.27 mi	4, Bethel Avenue, Blackpool FY2 9NA	£1,985	68	3	Semi-Detached House
£185K	12/20	0.27 mi	30, Caxton Avenue, Blackpool FY2 9AP	£1,312	141	3	Semi-Detached House
£160K	11/20	0.28 mi	105, Northgate, Bispham, Blackpool FY2 9LT	-	-	3	Detached House
£160K	04/23	0.28 mi	37, Rivington Avenue, Bispham, Blackpool FY2 9DG	-	-	3	Semi-Detached House
£225K	05/23	0.29 mi	30, Countess Crescent, Bispham, Blackpool FY2 9LQ	-	-	3	Semi-Detached House
£135K	01/21	0.31 mi	602, Devonshire Road, Blackpool FY2 0AN	-	-	3	Semi-Detached House
£138K	05/21	0.32 mi	18, Haddon Road, Bispham, Blackpool FY2 9AH	£1,357	102	3	Terraced House
£138K	05/21	0.32 mi	18, Haddon Road, Bispham, Blackpool FY2 9AH	£1,357	102	3	Terraced House
£173K	06/23	0.32 mi	40, Haddon Road, Bispham, Blackpool FY2 9AH	-	-	3	Semi-Detached House
£100K	04/21	0.32 mi	16, Haddon Road, Blackpool FY2 9AH	£1,099	91	3	Terraced House
£100K	04/21	0.32 mi	16, Haddon Road, Blackpool FY2 9AH	£1,099	91	3	Terraced House
£155K	05/21	0.33 mi	56, Everest Drive, Blackpool FY2 9DP	-	-	3	Semi-Detached House
£180K	02/23	0.33 mi	44, Everest Drive, Bispham, Blackpool FY2 9DP	£1,276	141	3	Semi-Detached House
£165K	09/21	0.35 mi	571, Devonshire Road, Blackpool FY2 0AJ	£1,839	90	3	Semi-Detached House
£152.5K	12/22	0.35 mi	57, Rivington Avenue, Bispham, Blackpool FY2 9BU	-	-	3	Terraced House
£145K	12/20	0.35 mi	86, Rivington Avenue, Bispham, Blackpool FY2 9BU	£1,576	92	3	Semi-Detached House
£114K	03/21	0.35 mi	106, Rivington Avenue, Blackpool FY2 9BU	-	-	3	Terraced House

Local Rents

36 rents from £650/mo to £1.3K/mo, average is £925/mo.

Rent	Date	Distance	Address	Beds	Type
£850	05/24	0.1 mi	Sandhurst Avenue, Bispham, FY2 9EB	3	House
£900	12/23	0.13 mi	-	3	Semi-Detached House
£975	03/25	0.13 mi	-	3	Semi-Detached House
£895	05/24	0.14 mi	Cavendish Road, FY2	3	Semi-Detached House
£995	04/24	0.14 mi	-	3	Terraced House
£895	04/24	0.14 mi	-	3	Terraced House
£995	04/24	0.14 mi	-	3	Terraced House
£995	04/24	0.14 mi	-	3	Terraced House
£995	05/24	0.14 mi	-	3	Terraced House
£1,200	04/24	0.22 mi	-	3	Semi-Detached House
£1,250	04/24	0.22 mi	Montpelier Avenue, Blackpool, FY2	3	Semi-Detached House
£1,150	05/24	0.22 mi	Montpelier Avenue, Blackpool, FY2	3	Semi-Detached House
£1,150	05/24	0.22 mi	Montpelier Avenue, Blackpool, FY2	3	Semi-Detached House
£1,250	06/24	0.22 mi	-	3	Semi-Detached House
£1,150	06/24	0.22 mi	-	3	Semi-Detached House
£1,250	03/25	0.22 mi	-	3	Semi-Detached House
£895	04/24	0.24 mi	Edenvale Avenue, FY2	3	Semi-Detached House
£1,150	05/24	0.25 mi	3 Cliff Place, Bispham, Blackpool. FY2 9JT	3	Semi-Detached House
£850	04/24	0.31 mi	Devonshire Road, Bispham	3	Semi-Detached House
£850	04/24	0.33 mi	-	3	Semi-Detached House
£895	04/24	0.35 mi	Admiral Gardens, Bispham	3	Terraced House
£1,000	04/24	0.36 mi	Devonshire Road, Bispham, Blackpool	3	House
£650	04/24	0.37 mi	340 Queens Promenade, Blackpool	3	Flat
£950	02/25	0.38 mi	-	3	Semi-Detached House
£1,100	05/24	0.4 mi	Rivington Avenue, Bispham, Blackpool	3	House
£695	04/24	0.43 mi	Dales View, Queens Promenade, Blackpool, FY2 9AB	3	Flat
£925	04/24	0.46 mi	Inver Road, Blackpool, FY2 0LW	3	Detached House
£875	04/24	0.46 mi	Inver Road, Blackpool, FY2 0LW	3	Semi-Detached House
£875	05/24	0.46 mi	Inver Road, Blackpool, FY2 0LW	3	Semi-Detached House
£925	05/24	0.47 mi	Inver Road, Blackpool, Lancashire	3	House
£895	05/24	0.48 mi	-	3	Semi-Detached House
£895	05/24	0.48 mi	-	3	Semi-Detached House
£895	05/24	0.48 mi	-	3	Semi-Detached House
£895	04/25	0.5 mi	-	3	Terraced House
£850	05/24	0.55 mi	Buxton Avenue, FY2	3	Terraced House
£950	04/24	0.58 mi	Galway Avenue, Blackpool, Lancashire, FY2	3	Semi-Detached House

Local Area Statistics

Population in FY2	24,58924,589
Population in Blackpool	133,713133,713
Town centre distance	2.82 miles away2.82 miles away
Nearest school	0.40 miles away0.40 miles away
Nearest train station	1.31 miles away1.31 miles away

Rental demand	Balanced marketBalanced market
Rental growth (12m)	+50%+50%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+18%+18%

Property History

Listed for £125,000

June 27, 2024

Floor Plans

Description

Great First Time or Investment Buy! +
Three Bedroom Mid Terraced Home +
Two Spacious Reception Rooms and Fitted Kitchen +
Downstairs W.C +
Two Double Bedrooms and a Single Bedroom +
Five Piece Family Bathroom +
Enclosed Rear Yard +
Please Call The Office Now To Arrange a Viewing! +

Calling all First Time Buyers and Investors! Introducing Melville Road, this three bedroom mid terraced house offers a wealth of potential for renovation and offers no onward chain!

On internal inspection you are greeted with two great sized reception rooms through to a fitted kitchen. The downstairs is also fit with w.c.
To the first floor there are two double bedrooms and a single bedroom and a five piece family bathroom.

Externally, there is an enclosed rear yard.

This home will make the perfect first project - please call the office now to arrange a viewing!

Agent Details

Entwistle Green, Cleveleys

01253 835078

Next Steps?

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

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