3 Bed Terraced House, Refurb/BRRR, Blackpool, FY1 5LG, £100,000

Westmorland Avenue, Blackpool, FY1 5LG - 9 months ago

Under Offer
Refurb/BRRR
ROI: 6%
~122 m²
+7 photos

ValuationFair Value

Sold Prices£60K - £150K
Sold Prices/m²£559/m² - £1.6K/m²

 

 

Square Metres

~122.05 m²
Price/m²£819/m²

Value Estimate

£100,000

 

 

End Value (After Refurb)

£113,508

Uplift in Value

+14%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£25,000

Stamp Duty & Legal Fees

£4,200

Refurb Costs

£49,870

Bridging Loan Interest

£2,625

Total Cash In

£83,445

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£113,508

Mortgage (After Refinance)

£85,131

Mortgage LTV

75%

Cash Released

£10,131

Cash Left In

£73,314

Equity

£28,377

Rent Range

£700 - £2,000

Rent Estimate

£988

Running Costs/mo

£572

Cashflow/mo

£416

Cashflow/yr

£4,988

ROI

6%

Gross Yield

12%

Local Sold Prices

50 sold prices from £60K to £150K, average is £106.5K. £559/m² to £1.6K/m², average is £1.2K/m².

PriceDateDistanceAddressBeds 
£108K02/230.01 mi18, Westmorland Avenue, Blackpool FY1 5LG3
£95K11/210.06 mi9, Queen Victoria Road, Blackpool FY1 5LF3
£90K10/210.07 mi58, Grasmere Road, Blackpool FY1 5PQ3
£83.5K04/230.11 mi96, Erdington Road, Blackpool FY1 5EL3
£80K01/230.15 mi27, Wyre Grove, Blackpool FY1 5PW3
£88K07/210.16 mi5, Levens Grove, Blackpool FY1 5LA3
£140K06/230.16 mi36, Queen Victoria Road, Blackpool FY1 5JY3
£80K11/210.16 mi82, Erdington Road, Blackpool FY1 5EH3
£100K01/230.18 mi86, Lune Grove, Blackpool FY1 5PH3
£125K10/210.19 mi14, Bela Grove, Blackpool FY1 5JZ3
£75K12/200.19 mi26, Levens Grove, Blackpool FY1 5PP3
£124K12/200.21 mi52, Bela Grove, Blackpool FY1 5PR3
£124K12/200.21 mi52, Bela Grove, Blackpool FY1 5PR3
£88K02/230.21 mi17, Bela Grove, Blackpool FY1 5PR3
£101K02/210.21 mi127, Westmorland Avenue, Blackpool FY1 5PF3
£93K12/200.22 mi60, Queen Victoria Road, Blackpool FY1 5JX3
£60K08/210.24 mi5, Henry Street, Blackpool FY1 5JG3
£120K07/210.26 mi70, Queen Victoria Road, Blackpool FY1 5JT3
£95K02/210.28 mi70, Condor Grove, Blackpool FY1 5LT3
£85K01/210.28 mi162, Park Road, Blackpool FY1 5QN3
£77K11/220.28 mi28, Rose Avenue, Blackpool FY1 5NU3
£125K01/230.3 mi159, Park Road, Blackpool FY1 4ET3
£120K04/230.3 mi151, Park Road, Blackpool FY1 4ET3
£123K04/230.31 mi62, Cumberland Avenue, Blackpool FY1 5QH3
£114.5K03/230.31 mi43, Cumberland Avenue, Blackpool FY1 5QH3
£99K01/210.31 mi55, Sharow Grove, Blackpool FY1 5NE3
£150K11/220.31 mi27, Blenheim Avenue, Blackpool FY1 4ER3
£123K11/220.32 mi25, Sharow Grove, Blackpool FY1 5NE3
£104K11/210.32 mi170, Grasmere Road, Blackpool FY1 5NG3
£105K11/210.32 mi109, Grasmere Road, Blackpool FY1 5NQ3
£99K06/210.32 mi99, Grasmere Road, Blackpool FY1 5NQ3
£118K03/230.32 mi109, Grasmere Road, Blackpool FY1 5NQ3
£119.5K12/200.32 mi194, Park Road, Blackpool FY1 5QS3
£132.5K06/210.32 mi57, Blenheim Avenue, Blackpool FY1 4ER3
£98K12/200.32 mi28, Blenheim Avenue, Blackpool FY1 4ER3
£119K12/200.32 mi41, Blenheim Avenue, Blackpool FY1 4ER3
£118K09/210.32 mi29, Blenheim Avenue, Blackpool FY1 4ER3
£122K10/210.32 mi9, Falmouth Road, Blackpool FY1 6LH3
£120K01/230.32 mi26, Blenheim Avenue, Blackpool FY1 4ER3
£110K02/230.33 mi5, Shetland Road, Blackpool FY1 6LP3
£97.5K03/210.33 mi18, Shetland Road, Blackpool FY1 6LP3
£105K01/230.33 mi11, Shetland Road, Blackpool FY1 6LP3
£98.5K07/210.34 mi21, Saville Road, Blackpool FY1 6JP3
£125K12/220.34 mi18, Chadfield Road, Blackpool FY1 5NS3
£146K08/210.34 mi24, Durley Road, Blackpool FY1 6LX3
£95K01/210.34 mi10, Durley Road, Blackpool FY1 6LX3
£119K02/230.34 mi18, Thirsk Grove, Blackpool FY1 5NH3
£120K08/210.34 mi41, Thirsk Grove, Blackpool FY1 5NH3
£136K01/230.34 mi35, Thirsk Grove, Blackpool FY1 5NH3
£95K05/210.35 mi130, Park Road, Blackpool FY1 4ES3

Local Rents

42 rents from £700/mo to £2K/mo, average is £900/mo.

RentDateDistanceAddressBeds 
£1,20003/250.11 mi-3
£1,10004/240.14 mi92 Grasmere Road3
£1,10005/240.15 mi-3
£82504/240.15 miWyre Grove, Blackpool3
£77504/240.16 miErdington Road, Blackpool3
£72504/240.19 miHarrison Street, Blackpool, Lancashire, FY13
£95001/250.21 mi-3
£79504/240.26 miAnsdell Road, Blackpool, Lancashire, FY15LX3
£80004/240.28 miPark Road, Blackpool, FY1 5QN3
£70004/240.34 miFlat 2, 16 Coop Street3
£1,10004/240.35 miPrincess Street3
£2,00002/250.35 mi-3
£2,00002/250.35 mi-3
£75001/250.36 mi-3
£1,25004/240.39 miHudson Road, Blackpool, FY13
£1,25004/240.39 mi-3
£82504/240.39 miBickerstaffe Street, Blackpool3
£85005/240.41 mi-3
£80005/240.42 mi28 Gloucester Avenue3
£80005/240.44 mi-3
£80005/240.44 mi-3
£80005/240.44 miCunliffe Road, Great Marton, Blackpool, FY13
£82504/240.44 miBoardman Avenue, Blackpool, FY1 6QE3
£90002/250.45 mi-3
£75004/240.45 miCunliffe Road, Blackpool, FY1 6SD3
£78004/240.45 mi-3
£89502/250.45 mi-3
£85003/250.46 mi-3
£1,00012/240.47 mi-3
£1,20012/240.47 mi-3
£95002/250.47 mi-3
£1,73302/250.47 mi-3
£90005/240.51 mi57 Gainsborough Road, Blackpool. FY1 4DZ3
£72504/240.54 miAnsdell Road, Blackpool3
£1,10003/250.57 mi-3
£95004/240.57 miHarris Avenue, FY1 6NJ3
£1,50003/250.57 mi-3
£95005/240.58 mi-3
£95005/240.58 miHaig Road, Blackpool, FY13
£90001/250.61 mi-3
£85004/240.62 mi34 Woodland Grove3
£90004/240.62 miSouth King Street, Blackpool3

Local Area Statistics

Population in FY1

33,505

Population in Blackpool

133,713

Town centre distance

1.55 miles away

Nearest school

0.10 miles away

Nearest train station

0.69 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+26%

Sales demand

Balanced market

Capital growth (5yrs)

+11%

Property History

Price changed to £100,000

September 25, 2024

Listed for £110,000

July 15, 2024

Floor Plans

Description

  • Deceptively Spacious 3 Bedroom Home +
  • Entrance Vestibule, Hallway, Lounge, Dining Room, Kitchen +
  • 3 Bedrooms, 3 piece suite Bathroom, Loft Space +
  • Ideal Investment Opportunity, Requires Some Modernisation +
  • central heating with a recent modern boiler +
  • new roof within the last four years +
  • central heating +

This deceptively spacious 3-bedroom mid-terraced house presents an ideal investment opportunity for those seeking a property project. The property boasts an entrance vestibule leading to a hallway, lounge, dining room, and kitchen, providing ample living space. With 3 bedrooms, a 3-piece suite bathroom, and a loft space, this home offers versatility and potential. Benefiting from central heating with a recent modern boiler and a new roof installed within the last four years, this property is ready for a new owner to make their mark through some modernisation. Offered with no onward chain, this property is a must-see for those looking to create their dream home.

Outside, the property features rear gate access and an outhouse suitable for storage, complete with an outdoor WC. The outdoor space provides a private area for enjoyment and relaxation, offering potential for landscaping and personal touches. Whether for gardening, entertaining, or simply enjoying the fresh air, this property's exterior enhances its appeal and liveability, adding value and charm to this promising investment opportunity.
EPC Rating: E

Agent Details

Stephen Tew Estate Agents, Blackpool

01256 961179

Next Steps?

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