2 Bed Flat, Refurb/BRRR, Blackpool, FY1 1RT, £70,000

Promenade, Regent Court, FY1 1RT - 3 views - 9 months ago

Under Offer
Leasehold
Refurb/BRRR
ROI: 10%
~68 m²
+6 photos

ValuationUndervalued

Sold Prices£45K - £130K
Sold Prices/m²£606/m² - £2.1K/m²

 

 

Square Metres

~67.94 m²
Price/m²£1K/m²

Value Estimate

£72,021
BMV3%

 

 

End Value (After Refurb)

£70,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£17,500

Stamp Duty & Legal Fees

£3,300

Refurb Costs

£27,760

Bridging Loan Interest

£1,838

Total Cash In

£52,148

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£70,000

Mortgage (After Refinance)

£52,500

Mortgage LTV

75%

Cash Left In

£52,148

Equity

£17,500

Rent Range

£411 - £1,517

Rent Estimate

£828

Running Costs/mo

£404

Cashflow/mo

£424

Cashflow/yr

£5,084

ROI

10%

Gross Yield

14%

Local Sold Prices

50 sold prices from £45K to £130K, average is £77.5K. £606/m² to £2.1K/m², average is £1.1K/m².

PriceDateDistanceAddressBeds 
£107.5K05/210.26 mi49, Topping Street, Blackpool FY1 3AF2
£60K08/220.43 mi88, Gorton Street, Blackpool FY1 3HP2
£51K11/200.58 mi102, Spencer Court, Blackpool FY1 3TP2
£63.5K05/210.62 mi162 - 164, Caunce Street, Blackpool FY1 3NJ2
£83K03/230.62 mi11, Hampstead Mews, Blackpool FY1 2SG2
£59K05/230.65 mi12a, Northfield Avenue, Blackpool FY1 2ND2
£77K10/220.81 miFlat 6, Dutton Court, Dutton Road, Blackpool FY3 8DH2
£109K01/230.84 miFlat 16, Warbreck Court, Warbreck Hill Road, Blackpool FY2 9SR2
£94K07/230.84 miFlat 4, Warbreck Court, Warbreck Hill Road, Blackpool FY2 9SR2
£91.5K07/210.84 miFlat 1, Warbreck Court, Warbreck Hill Road, Blackpool FY2 9SR2
£97K03/230.84 miFlat 14, Warbreck Court, Warbreck Hill Road, Blackpool FY2 9SR2
£65K11/210.84 miFlat 8, The Maltings, Yorkshire Street, Blackpool FY1 5BF2
£92K01/230.94 miFlat 5, Argyll Court, Argyll Road, Blackpool FY2 9UF2
£65K04/210.96 miFlat 39, Grizedale Court, Forest Gate, Blackpool FY3 9AP2
£80K02/210.97 miFlat 4, Vine Court, Gosforth Road, Blackpool FY2 9UL2
£78K03/211.11 mi9, Somerset Court, Blackpool FY1 5QQ2
£55K03/211.17 mi55a, Grasmere Road, Blackpool FY1 5HP2
£50K07/211.17 mi59f, Grasmere Road, Blackpool FY1 5HP2
£58K02/211.17 mi53f, Grasmere Road, Blackpool FY1 5HP2
£58K05/211.21 mi26, Condor Grove, Blackpool FY1 5LT2
£52.5K03/231.26 mi22, Condor Grove, Blackpool FY1 5JU2
£73K05/231.36 miFlat 3, Lowther Court, Queens Promenade, Bispham, Blackpool FY2 9NY2
£87K01/231.36 miFlat C, 189, Bloomfield Road, Blackpool FY1 6QH2
£95K01/231.4 miFlat 16, Queens Court, Queens Promenade, Bispham, Blackpool FY2 9PG2
£80K10/201.4 miFlat 6, Queens Court, Queens Promenade, Blackpool FY2 9PG2
£72.5K10/201.4 miFlat 25, Queens Court, Queens Promenade, Bispham, Blackpool FY2 9PG2
£130K06/231.4 miFlat 12, Queens Court, Queens Promenade, Bispham, Blackpool FY2 9PG2
£102K10/201.46 miFlat 30, Duchess Court, Queens Promenade, Blackpool FY2 9PR2
£102K10/201.46 miFlat 30, Duchess Court, Queens Promenade, Blackpool FY2 9PR2
£82.5K03/231.46 miFlat 29, Duchess Court, Queens Promenade, Bispham, Blackpool FY2 9PR2
£97.5K09/221.48 miFlat 7, Anselm Court, Pembroke Avenue, Bispham, Blackpool FY2 9QD2
£90K03/211.53 miFlat 5, Pembroke Court, Queens Promenade, Blackpool FY2 9PY2
£80K11/211.53 miFlat 38, Pembroke Court, Queens Promenade, Blackpool FY2 9PY2
£75K10/221.53 miFlat 60, Pembroke Court, Queens Promenade, Bispham, Blackpool FY2 9PY2
£71K06/211.53 miFlat 24, Pembroke Court, Queens Promenade, Bispham, Blackpool FY2 9PY2
£85K03/211.53 miFlat 44, Pembroke Court, Queens Promenade, Blackpool FY2 9PY2
£77K04/231.53 miFlat 35, Pembroke Court, Queens Promenade, Bispham, Blackpool FY2 9PY2
£70.5K05/231.53 miFlat 27, Pembroke Court, Queens Promenade, Bispham, Blackpool FY2 9PY2
£65K04/231.53 miFlat 7, Pembroke Court, Queens Promenade, Bispham, Blackpool FY2 9PY2
£82K06/231.53 miFlat 21, Pembroke Court, Queens Promenade, Bispham, Blackpool FY2 9PY2
£76K01/231.53 miFlat 51, Pembroke Court, Queens Promenade, Bispham, Blackpool FY2 9PY2
£70K01/211.53 mi129, St Heliers Road, Blackpool FY1 6JD2
£64K08/221.54 miFlat 33, Pembroke Court, Queens Promenade, Bispham, Blackpool FY2 9PY2
£80K07/221.67 mi21, Eccleston Road, Blackpool FY1 6AU2
£90K04/231.67 mi36, Lomond Avenue, Blackpool FY3 9QL2
£78K12/221.69 mi2f, South Lawn, Blackpool FY4 4BN2
£55K07/231.69 mi1c, South Lawn, Blackpool FY4 4BN2
£45K03/211.69 mi1d, South Lawn, Blackpool FY4 4BN2
£83.5K03/211.69 mi45, Greenbriar Close, Blackpool FY3 7SA2
£72K10/201.69 mi41, Greenbriar Close, Blackpool FY3 7SA2

Local Rents

51 rents from £411/mo to £1.5K/mo, average is £700/mo.

RentDateDistanceAddressBeds 
£75004/240.06 miFrancis Street, Blackpool2
£62502/250.06 mi-2
£97503/240.06 mi-2
£1,05004/240.06 mi-2
£1,15004/240.06 mi-2
£1,10004/240.06 mi-2
£1,05004/240.06 mi-2
£97502/240.06 mi-2
£1,10001/250.06 mi-2
£90003/250.06 mi-2
£58004/240.07 miGeneral Street, Blackpool, Lancashire, FY12
£54504/240.07 miFlat 1, 3 General Street, Blackpool, Lancashire, FY12
£65002/250.07 mi-2
£1,30004/240.11 mi-2
£1,25004/240.13 mi-2
£1,20004/240.13 mi-2
£1,30005/240.16 mi-2
£1,51712/240.16 mi-2
£69503/250.16 mi-2
£52504/240.18 miAbove 35 Talbot Road, Blackpool, FY12
£60004/240.18 mi-2
£52504/240.18 mi-2
£60605/240.25 miLewtas Street, Blackpool, FY1 2DY2
£65004/240.26 miCheapside, Blackpool2
£65005/240.26 miCheapside, Blackpool2
£1,25004/240.27 mi-2
£80001/250.27 mi-2
£1,20002/250.27 mi-2
£62504/240.27 miCross Street, Blackpool2
£90002/250.29 mi-2
£70004/240.35 mi-2
£77501/250.43 mi-2
£62004/240.45 miAdelaide Street, Blackpool2
£41104/240.47 miClevedon Road, Blackpool, FY1 2NX2
£75003/250.48 mi-2
£70003/240.49 mi-2
£70004/240.49 miWoburn Road, Blackpool, FY12
£55003/250.5 mi-2
£63502/250.5 mi-2
£65004/240.51 miCarshalton Road , Blackpool2
£77502/250.51 mi-2
£99503/250.51 mi-2
£52005/240.52 mi-2
£52005/240.52 mi-2
£60003/250.53 mi-2
£57505/240.53 miDanesbury Place, BLACKPOOL, FY1 3LX2
£70002/250.54 mi-2
£67504/240.56 mi-2
£65004/240.61 mi-2
£67502/250.61 mi-2
£67503/250.61 mi-2

Local Area Statistics

Population in FY1

33,505

Population in Blackpool

133,713

Town centre distance

1.86 miles away

Nearest school

0.40 miles away

Nearest train station

0.23 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+26%

Sales demand

Balanced market

Capital growth (5yrs)

+11%

Property History

Listed for £70,000

July 4, 2024

Floor Plans

Description

  • Top Floor Flat on the Promenade, Balcony with Sea Views +
  • Hallway, Lounge/Diner, Kitchen, 2 Bedrooms, 1 with fitted wardrobes, 3 piece suite Bathroom, Separate WC +
  • Lift Access, Residents Car Park +
  • Requires some modernisation +

Situated on the desirable Promenade, this top-floor 2 Bedroom Apartment offers breath-taking sea views from its private balcony. With no onward chain, this property comprises a hallway leading to a generous lounge/diner, a separate kitchen, two bedrooms including one with fitted wardrobes, a bathroom with a 3-piece suite, and an additional WC. The property boasts lift access and the added convenience of a residents' car park, ensuring seamless access for all occupants. While the apartment presents the opportunity for modernisation, its prime location and stunning views make it a unique and promising investment for those seeking coastal living at its finest.

EPC Rating: F

Agent Details

Stephen Tew Estate Agents, Blackpool

01256 961179

Next Steps?

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