2 Bed Flat, Single Let, Oldbury, B69 4SD, £120,000

211 Ashwood Close, Oldbury, B69 4SD - 2 views - 9 months ago

Leasehold

BTL

ROI: 7%

~68 m²

+4 photos

ValuationOvervalued

Sold Prices	£53.5K - £137.5K
Sold Prices/m²	£963/m² - £2.8K/m²

Square Metres	~68.11 m²
Price/m²	£1.8K/m²
Value Estimate	£117,211£117,211

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£30,000£30,000
Stamp Duty & Legal Fees	£7,200£7,200
Total Cash In	£37,200£37,200

Cash Out
Rent Range	£650 - £1,200£650 - £1,200
Rent Estimate	£775
Running Costs/mo	£550£550
Cashflow/mo	£225£225
Cashflow/yr	£2,700£2,700
ROI	7%7%
Gross Yield	8%8%

Local Sold Prices

25 sold prices from £53.5K to £137.5K, average is £105K. £963/m² to £2.8K/m², average is £1.7K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£114K	04/21	0.01 mi	35, Ashwood Close, Oldbury, West Midlands B69 4SD	£1,606	71	2	Flat
£117.5K	05/23	0.01 mi	36, Ashwood Close, Oldbury, West Midlands B69 4SD	£1,567	75	2	Flat
£122K	08/22	0.02 mi	387, Titford Road, Oldbury, West Midlands B69 4QW	-	-	2	Flat
£133.5K	12/22	0.02 mi	395, Titford Road, Oldbury, West Midlands B69 4QW	£2,119	63	2	Flat
£122.5K	09/22	0.03 mi	14, Ashwood Close, Oldbury, West Midlands B69 4SD	£1,974	62	2	Flat
£92.5K	12/22	0.15 mi	18, Titford Lane, Rowley Regis, West Midlands B65 0PT	£2,256	41	2	Flat
£70K	12/20	0.15 mi	18, Titford Lane, Rowley Regis, West Midlands B65 0PT	£1,707	41	2	Flat
£80K	06/22	0.15 mi	55, Winchester Close, Rowley Regis, West Midlands B65 0PW	£1,778	45	2	Flat
£73K	07/22	0.16 mi	52, Winchester Close, Rowley Regis, West Midlands B65 0PW	£1,721	42	2	Flat
£70K	12/20	0.16 mi	48, Winchester Close, Rowley Regis, West Midlands B65 0PW	£1,707	41	2	Flat
£136K	02/23	0.18 mi	101, Durham Road, Rowley Regis, West Midlands B65 0SH	£2,776	49	2	Flat
£92K	11/22	0.18 mi	77, Durham Road, Rowley Regis, West Midlands B65 0SH	£1,878	49	2	Flat
£70K	07/22	0.18 mi	21, Durham Road, Rowley Regis, West Midlands B65 0SH	£1,370	51	2	Flat
£85K	11/21	0.34 mi	Flat 7, Penncricket Court, Penncricket Lane, Oldbury, West Midlands B68 8LX	-	-	2	Flat
£137.5K	09/22	0.4 mi	Flat 1, Brandhall Court, Wolverhampton Road, Oldbury, West Midlands B68 8DE	-	-	2	Flat
£85K	11/22	0.7 mi	20, Martley Road, Oldbury, West Midlands B69 1DZ	£1,349	63	2	Flat
£53.5K	02/21	0.8 mi	Flat 11, Radnall House, Wallace Close, Oldbury, West Midlands B69 1HN	-	-	2	Flat
£115K	03/23	0.85 mi	21, The Pineways, Oldbury, West Midlands B69 1JL	£2,300	50	2	Flat
£73K	11/21	0.89 mi	51, Warwick Close, Oldbury, West Midlands B68 8NH	-	-	2	Flat
£105K	06/22	0.89 mi	34, Warwick Close, Oldbury, West Midlands B68 8NH	£2,180	48	2	Flat
£118K	04/21	0.9 mi	Flat 3, Brandhall Court, Wolverhampton Road, Oldbury, West Midlands B68 8DE	-	-	2	Flat
£131K	10/22	0.9 mi	Flat 24, Brandhall Court, Wolverhampton Road, Oldbury, West Midlands B68 8DE	-	-	2	Flat
£117K	04/22	0.9 mi	Flat 18, Brandhall Court, Wolverhampton Road, Oldbury, West Midlands B68 8DE	-	-	2	Flat
£118K	04/21	0.91 mi	Flat 3, Brandhall Court, Wolverhampton Road, Oldbury, West Midlands B68 8DE	-	-	2	Flat
£58.8K	02/21	0.94 mi	18, Portway Road, Rowley Regis, West Midlands B65 9DB	£963	61	2	Flat

Local Rents

14 rents from £650/mo to £1.2K/mo, average is £825/mo.

Rent	Date	Distance	Address	Beds	Type
£825	12/24	0.03 mi	Titford Road, Oldbury, Birmingham	2	Flat
£700	04/25	0.17 mi	-	2	Flat
£650	12/24	0.18 mi	Durham Road, Rowley Regis	2	Flat
£800	01/24	0.21 mi	-	2	Semi-Detached House
£895	12/24	0.31 mi	Witley Crescent, Oldbury	2	Flat
£1,200	12/24	0.34 mi	Penncricket Lane, Oldbury	2	Flat
£775	12/24	0.34 mi	Penncricket Lane, Oldbury, West Midlands, B68	2	Flat
£900	12/24	0.44 mi	Causeway Green Road, Oldbury, West Midlands, B68	2	Detached House
£925	12/24	0.5 mi	Arden Grove, Oldbury, B69 4SX	2	Detached House
£775	12/24	0.52 mi	Langley High Street, Oldbury, West Midlands, B69	2	Flat
£895	04/25	0.55 mi	-	2	Flat
£825	12/24	0.55 mi	Broad Street, Oldbury, West Midlands, B69	2	Flat
£825	12/24	0.55 mi	Broad Street, Oldbury, West Midlands, B69	2	Flat
£950	12/24	0.57 mi	Cross Street, Oldbury	2	Flat

Local Area Statistics

Population in B69	29,01129,011
Population in Oldbury	59,93559,935
Town centre distance	0.28 miles away0.28 miles away
Nearest school	0.40 miles away0.40 miles away
Nearest train station	0.76 miles away0.76 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+16%+16%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+28%+28%

Property History

Listed for £120,000

July 17, 2024

Description

Modern Apartment +
Two Bedrooms +
Lounge +
Kitchen +
Bathroom +
UPVC Double Glazing +
Electric Heating +
Allocated Parking Space +
Second Floor +
Good Transport Links +

A modern two bedroom second floor apartment in the popular Wharf development in Oldbury.
The well presented accommodation comprises of an entrance hall, lounge, fitted kitchen, two bedrooms and bathroom. The property benefits from UPVC double glazed windows, electric heating, entry phone, allocated parking space and having good transport links.

Entrance Hall - Wood effect laminate flooring, electric storage heater, entry phone, cupboard with water cylinder, doors off.

Lounge - 6.0 x 4.0 (19'8" x 13'1") - Being open plan with wood effect laminate flooring, UPVC double glazed window to rear, electric storage heater.

Kitchen - 3.0 x 2.2 (9'10" x 7'2") - Being open plan with wood effect vinyl flooring, various wall units, rolled edge worksurface with cupboards and drawers under, inset stainless steel sink, integrated electric oven and fitted four ring hob with extractor over, washing machine, appliance space.

Bedroom One - 3.9 x 2.5 (12'9" x 8'2") - Wood effect laminate flooring, UPVC double glazed window to rear, electric heater.

Bedroom Two - 2.8 x 2.7 (9'2" x 8'10") - Wood effect laminate flooring, UPVC double glazed window to rear, electric heater.

Bathroom - 2.0 x 1.8 (6'6" x 5'10") - Wood effect laminate flooring, electric heater, part tiled walls, bathroom suite comprising low level WC, pedestal wash hand basin, bath with shower screen and mixer tap with shower attachment.

Outside - Allocated parking space.

Agent Details

Redstones, Willenhall

01922 927042

Next Steps?

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