2 Bed Semi-Detached House, Refurb/BRRR, Blackpool, FY2 0TY, £70,000

31 Raymond Avenue, Blackpool, FY2 0TY - 5 views - 9 months ago

Auction
Refurb/BRRR
Negative Equity
ROI: 7%
~68 m²
+16 photos

ValuationUndervalued

Sold Prices£55K - £214K
Sold Prices/m²£613/m² - £2.5K/m²

 

 

Square Metres

~68.11 m²
Price/m²£1K/m²

Value Estimate

£80,000

 

 

End Value (After Refurb)

£106,617

Uplift in Value

+33%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£17,500

Stamp Duty & Legal Fees

£3,600

Refurb Costs

£27,830

Bridging Loan Interest

£1,838

Total Cash In

£52,518

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£106,617

Mortgage (After Refinance)

£79,963

Mortgage LTV

75%

Cash Released

£27,463

Cash Left In

£25,055

Equity

£26,654

Rent Range

£525 - £975

Rent Estimate

£850

Running Costs/mo

£523

Cashflow/mo

£327

Cashflow/yr

£3,922

ROI

7%

Gross Yield

15%

Local Sold Prices

51 sold prices from £55K to £214K, average is £100K. £613/m² to £2.5K/m², average is £1.3K/m².

PriceDateDistanceAddressBeds 
£97.3K12/200 mi35, Raymond Avenue, Blackpool FY2 0TY2
£78.5K02/210.08 mi209, Warley Road, Blackpool FY2 0UL2
£103.5K04/210.08 mi221, Warley Road, Blackpool FY2 0UL2
£85K03/210.1 mi222, Warley Road, Blackpool FY2 0UD2
£125K01/230.12 mi282, Warley Road, Blackpool FY2 0UG2
£110K12/200.13 mi3, Blackfen Place, Blackpool FY2 0XG2
£110K12/210.13 mi28, Courtfield Avenue, Blackpool FY2 0UN2
£116K03/210.16 mi87, Bexley Avenue, Blackpool FY2 0TE2
£165K02/230.18 mi290, Warley Road, Blackpool FY2 0UJ2
£142K12/220.21 mi24, Holly Road, Blackpool FY1 2SF2
£100K09/210.22 mi81, Mansfield Road, Blackpool FY3 7HZ2
£94K12/220.22 mi91, Mansfield Road, Blackpool FY3 7HZ2
£85K12/200.22 mi18, Leaford Avenue, Blackpool FY3 7JB2
£92.5K11/210.22 mi17, Leaford Avenue, Blackpool FY3 7JB2
£87.5K07/230.22 mi5, Leaford Avenue, Blackpool FY3 7JB2
£87.5K07/230.22 mi5, Leaford Avenue, Blackpool FY3 7JB2
£115K01/230.27 mi414, Warley Road, Blackpool FY2 0SS2
£112K11/200.27 mi27, Armadale Road, Blackpool FY2 0SW2
£214K12/200.27 mi9, Hilstone Lane, Blackpool FY2 0SJ2
£207.5K12/220.28 mi164, Warbreck Hill Road, Blackpool FY2 0SL2
£150K09/210.29 mi10, Geldof Drive, Blackpool FY1 2AQ2
£77K12/200.29 mi10, Leavesley Road, Blackpool FY1 2QP2
£55K01/210.31 mi11, Fairfield Road, Blackpool FY1 2RA2
£74.5K06/230.34 mi38, Bedford Road, Blackpool FY1 2QS2
£77K12/200.36 mi11, Stanhope Road, Blackpool FY1 2QY2
£157K11/200.36 mi22, Cambray Road, Blackpool FY1 2LX2
£163.5K02/210.36 mi38, Cambray Road, Blackpool FY1 2LX2
£155K02/210.36 mi30, Cambray Road, Blackpool FY1 2LX2
£123K07/210.37 mi31, Benson Road, Blackpool FY3 7HP2
£64K11/200.39 mi81, Handsworth Road, Blackpool FY1 2QZ2
£170K05/210.4 mi1, Ramsey Avenue, Blackpool FY3 7AH2
£105K12/220.4 mi7, Oregon Avenue, Blackpool FY3 7JU2
£170K05/210.4 mi1, Ramsey Avenue, Blackpool FY3 7AH2
£78K11/200.4 mi6, Hampstead Mews, Blackpool FY1 2SG2
£137K04/230.41 mi1, Hurstwood Drive, Blackpool FY2 0WU2
£77.5K11/200.41 mi66, Enfield Road, Blackpool FY1 2RB2
£130K08/210.42 mi6, Wembley Avenue, Blackpool FY3 7DU2
£130K09/210.42 mi26, Poulton Road, Blackpool FY3 7DT2
£78K05/210.43 mi25, Brooklyn Avenue, Blackpool FY3 7DP2
£72K04/210.44 mi31, Oregon Avenue, Blackpool FY3 7JU2
£100K02/210.45 mi24, Norwood Avenue, Blackpool FY3 7DJ2
£90K11/200.49 mi36, Lynwood Avenue, Blackpool FY3 7DG2
£125.5K03/230.49 mi37, Meyler Avenue, Blackpool FY3 7DX2
£87.5K02/210.49 mi10, Eastwood Avenue, Blackpool FY3 7DW2
£83K12/220.5 mi9, Huntley Avenue, Blackpool FY3 7BU2
£100K03/230.5 mi18, Northfield Avenue, Blackpool FY1 2ND2
£80K11/200.51 mi13, Onslow Road, Blackpool FY3 7DF2
£70K11/210.51 mi15, Onslow Road, Blackpool FY3 7DF2
£90K10/210.51 mi49, Onslow Road, Blackpool FY3 7DF2
£72K02/210.52 mi27, Whittaker Avenue, Blackpool FY3 8RE2
£70K03/210.52 mi22, Whittaker Avenue, Blackpool FY3 8RE2

Local Rents

51 rents from £525/mo to £975/mo, average is £650/mo.

RentDateDistanceAddressBeds 
£89504/240.02 miRaymond Avenue, Blackpool, Lancashire, FY22
£82505/240.12 miGoodwood Avenue, Blackpool, Lancashire, FY22
£97504/240.12 miCourtfield Avenue, Blackpool, Lancashire, FY22
£65004/240.3 miClaremont Road, Blackpool2
£80003/250.33 mi-2
£65003/250.35 mi-2
£60004/240.35 miChelsea Avenue, Blackpool2
£60004/240.35 miChelsea Avenue, Blackpool2
£57504/240.35 miChelsea Avenue, Blackpool2
£54202/240.35 mi-2
£58505/240.35 miBispham Road, Blackpool, FY22
£58505/240.35 miBispham Road, Blackpool, FY22
£58506/240.35 miBispham Road, Blackpool, FY22
£58505/240.35 mi-2
£58505/240.35 mi-2
£58506/240.35 mi-2
£60012/230.37 mi-2
£65004/250.37 mi-2
£69502/240.39 mi-2
£66503/240.4 mi-2
£66504/240.4 miCoopers Way, Blackpool, FY12
£66505/240.4 mi-2
£66504/240.4 miCoopers Way, Blackpool, FY12
£67503/250.4 mi-2
£69501/250.41 mi-2
£75005/240.41 miHurstwood Drive, Bispham, FY2 0WU2
£62504/240.46 mi58 Cornwall Avenue2
£52504/240.49 miWarley Road, Blackpool, Lancashire, FY12
£64005/240.5 mi-2
£65005/240.5 mi-2
£55004/240.5 miWarbreck Drive, Blackpool, FY2 9SX2
£65004/240.52 miWilford Street, Blackpool2
£85002/250.53 mi-2
£75012/240.53 mi-2
£62504/240.53 mi-2
£70003/240.53 mi-2
£70004/240.53 miWoburn Road, Blackpool, FY12
£65004/240.54 mi-2
£55002/240.54 mi-2
£55002/250.54 mi-2
£60005/240.54 mi-2
£60003/250.54 mi-2
£67504/240.54 miMelrose Avenue, Blackpool, Lancashire, FY32
£60004/240.55 miHolyoake Avenue, Blackpool, Lancashire, FY22
£65004/240.55 miLaburnum Street, Blackpool, Blackpool2
£75003/250.56 mi-2
£68003/250.56 mi-2
£63502/250.56 mi-2
£67504/240.56 miCypress Grove, Blackpool, FY3 8RR2
£69001/250.57 mi-2
£65004/240.59 miFlat 0, 20 Knowle Avenue, Blackpool,FY2 9RX2

Local Area Statistics

Population in FY2

24,589

Population in Blackpool

133,713

Town centre distance

1.64 miles away

Nearest school

0.20 miles away

Nearest train station

0.35 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+50%

Sales demand

Balanced market

Capital growth (5yrs)

+18%

Property History

Price changed to £70,000

March 28, 2025

Price changed to £75,000

January 15, 2025

Listed for £80,000

-15%

July 22, 2024

Sold for £92,000

2005

Floor Plans

Description

  • For Sale by Online Auction +
  • Large Corner Plot +
  • Off Road Parking & Garage +
  • Additional Loft Room +
  • No Onward Chain Delay +
  • Below Market Value +
  • Modernisation Required +
  • Popular Residential Area +
  • Viewings Available +
  • 360 Virtual Tour Available +

For Sale by Online Auction with a Starting Bid of £80,000. T&Cs Apply. See WebbMove for all of the Auction Details.

Occupying a large corner plot is this spacious two-bedroom semi detached house which requires full modernisation but has been priced below market value to reflect this. The property is situated in a popular residential area, close to all local amenities including shops, good schools and bus routes. Once renovated, it would be the ideal home for a first time buyer, or a buy-to-let investment with the estimated rent being circa £850PCM. Briefly comprises; entrance, spacious lounge, kitchen diner, two bedrooms and a family bathroom suite. Externally, generous sized gardens surround the property along with a driveway and a garage. Viewings available either in person or via our 360 virtual tour.  

ENTRANCE 4' 0" x 3' 0" (1.22m x 0.91m)  

LOUNGE 12' 0" x 10' 9" (3.66m x 3.28m)  

KITCHEN/DINER 11' 0" x 14' 2" (3.35m x 4.32m)  

BEDROOM ONE 12' 0" x 11' 1" (3.66m x 3.38m)  

BEDROOM TWO 7' 0" x 8' 0" (2.13m x 2.44m)  

BATHROOM 11' 0" x 5' 9" (3.35m x 1.75m)  

LOFT ROOM 8' 0" x 12' 3" (2.44m x 3.73m)  

EXTERNAL Generous sized gardens to the front and side with a yard to the rear. There is also a driveway and garage.  

AUCTION INFORMATION This property is for sale by online auction under WebbMove Auctions ('The Auctioneer'). Lots sold by the Auctioneer will typically be sold under unconditional auction terms.

The auction end date for this property is scheduled for 20th December 2024. Please note some circumstances can cause this date to change, and it may close before the scheduled end date.

Upon acceptance of their bid, the winning bidder will be required to pay both a deposit and a buyer's premium within 24 hours. Typically, this will be 10% of the sale price and 4% plus VAT of the sale price (subject to a minimum of £4,000 plus VAT) respectively. The deposit will form part of the sale price on completion of the sale, the buyer's premium will be retained by The Auctioneer as a fee for their services.

Most properties can be viewed prior to the auction date either in person or through our virtual 360 tours and can be arranged via Tiger Sales and Lettings.

Prospective buyers will be required to register with The Auctioneer, upon doing this they will be able to download legal information and place bids. Visit the Auctioneer's website to register, in-line with anti-money laundering regulations, a prospective buyer's identity will have to be verified before a bid(s) can be placed.

For specifics relating to the auction/sale, a buyer should download and review the Legal Pack via The Auctioneer's website, paying special attention to the Special Conditions, the auctioneers' terms and conditions, and the RICS Common Auction Conditions. We recommend seeking the advice of a competent legal advisor before placing a bid.

Looking to SELL by AUCTION rather than BUY? Get in touch for your free valuation! You never know, your property may be worth more than you think.

WebbMove Auctions is a trading name of Tiger Sales and Lettings Ltd.

Agent Details

Tiger Sales & Lettings, Blackpool

01253 835609

Next Steps?

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