2 Bed Flat, Single Let, Birmingham, B24 0HL, £140,000

Park Close, Birmingham, West Midlands, B24 0HL - 1 views - 8 months ago

Sold STC

BTL

ROI: 6%

~68 m²

+5 photos

ValuationUndervalued

Sold Prices	£65K - £379.9K
Sold Prices/m²	£1.1K/m² - £4.4K/m²

Square Metres	~68.11 m²
Price/m²	£2.1K/m²
Value Estimate	£150,075£150,075
BMV	7%

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£35,000£35,000
Stamp Duty & Legal Fees	£5,400£5,400
Total Cash In	£40,400£40,400

Cash Out
Rent Range	£750 - £1,800£750 - £1,800
Rent Estimate	£841
Running Costs/mo	£626£626
Cashflow/mo	£215£215
Cashflow/yr	£2,584£2,584
ROI	6%6%
Gross Yield	7%7%

Local Sold Prices

47 sold prices from £65K to £379.9K, average is £130K. £1.1K/m² to £4.4K/m², average is £2.2K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£127.5K	03/23	0 mi	29, Park Close, Birmingham, West Midlands B24 0HL	£2,125	60	2	Flat
£128K	08/21	0 mi	47, Park Close, Birmingham, West Midlands B24 0HL	£2,246	57	2	Flat
£111K	08/21	0 mi	39, Park Close, Birmingham, West Midlands B24 0HL	-	-	2	Flat
£123K	10/22	0 mi	5, Park Close, Birmingham, West Midlands B24 0HL	£2,016	61	2	Flat
£150K	07/23	0 mi	59, Park Close, Birmingham, West Midlands B24 0HL	£2,632	57	2	Flat
£130K	12/20	0.01 mi	31, Park Close, Birmingham, West Midlands B24 0HL	£2,000	65	2	Flat
£93.1K	07/23	0.18 mi	7, Campion Gardens, Birmingham, West Midlands B24 0HF	£1,825	51	2	Flat
£379.9K	06/21	0.2 mi	867, Chester Road, Erdington, Birmingham, West Midlands B24 0BT	-	-	2	Flat
£126K	12/22	0.21 mi	53, Bickton Close, Birmingham, West Midlands B24 0JA	£2,250	56	2	Flat
£130.5K	02/21	0.21 mi	19, Bickton Close, Birmingham, West Midlands B24 0JA	£2,139	61	2	Flat
£137.5K	03/23	0.21 mi	52, Bickton Close, Birmingham, West Midlands B24 0JA	£2,412	57	2	Flat
£120K	11/20	0.21 mi	45, Bickton Close, Birmingham, West Midlands B24 0JA	£2,353	51	2	Flat
£115.5K	02/21	0.21 mi	51, Bickton Close, Birmingham, West Midlands B24 0JA	£1,991	58	2	Flat
£126.5K	05/21	0.21 mi	33, Bickton Close, Birmingham, West Midlands B24 0JA	£2,144	59	2	Flat
£130K	03/21	0.5 mi	37, Varley Road, Birmingham, West Midlands B24 0LB	£2,203	59	2	Flat
£130K	03/21	0.5 mi	37, Varley Road, Birmingham, West Midlands B24 0LB	£2,203	59	2	Flat
£68.3K	08/23	0.53 mi	Flat 5, Silverbirch Court, Orphanage Road, Birmingham, West Midlands B24 0AB	-	-	2	Flat
£105K	05/21	0.57 mi	24, Avalon Close, Birmingham, West Midlands B24 9JY	£1,909	55	2	Flat
£132K	11/21	0.58 mi	130, Holly Lane, Erdington, Birmingham, West Midlands B24 9JX	£2,444	54	2	Flat
£108K	07/21	0.58 mi	134, Holly Lane, Erdington, Birmingham, West Midlands B24 9JX	£2,000	54	2	Flat
£136.7K	10/22	0.58 mi	148, Holly Lane, Erdington, Birmingham, West Midlands B24 9JX	£2,824	48	2	Flat
£128K	03/23	0.63 mi	53, Holly Park Drive, Erdington, Birmingham, West Midlands B24 9LG	£2,000	64	2	Flat
£115K	12/20	0.63 mi	41, Holly Park Drive, Erdington, Birmingham, West Midlands B24 9LG	£1,797	64	2	Flat
£110K	03/21	0.63 mi	54, Holly Park Drive, Erdington, Birmingham, West Midlands B24 9LQ	£1,710	64	2	Flat
£119K	09/21	0.63 mi	50, Holly Park Drive, Erdington, Birmingham, West Midlands B24 9LQ	-	-	2	Flat
£125K	09/23	0.64 mi	Flat 8, Moor End Court, Arthur Road, Erdington, Birmingham, West Midlands B24 9EY	-	-	2	Flat
£136K	12/22	0.71 mi	269, Penns Lane, Sutton Coldfield, West Midlands B76 1LS	-	-	2	Flat
£135K	07/21	0.75 mi	32, Eldon Drive, Sutton Coldfield, West Midlands B76 1LT	£2,015	67	2	Flat
£177.5K	03/21	0.75 mi	1, Eldon Drive, Sutton Coldfield, West Midlands B76 1LT	£3,060	58	2	Flat
£160K	09/21	0.75 mi	17, Eldon Drive, Sutton Coldfield, West Midlands B76 1LT	£2,715	59	2	Flat
£180K	10/22	0.75 mi	41, Eldon Drive, Sutton Coldfield, West Midlands B76 1LT	£2,688	67	2	Flat
£175K	10/22	0.75 mi	14, Eldon Drive, Sutton Coldfield, West Midlands B76 1LT	£2,764	63	2	Flat
£120K	01/23	0.75 mi	23, Eldon Drive, Sutton Coldfield, West Midlands B76 1LT	-	-	2	Flat
£165K	07/23	0.79 mi	8, Trident Close, Sutton Coldfield, West Midlands B76 1LF	£3,056	54	2	Flat
£166K	06/23	0.79 mi	15, Trident Close, Sutton Coldfield, West Midlands B76 1LF	£2,906	57	2	Flat
£138K	04/22	0.85 mi	Flat 11, Penns Court, Eachelhurst Road, Sutton Coldfield, West Midlands B76 1DL	-	-	2	Flat
£260K	05/23	0.86 mi	Flat 3, Greenhill Court, Brooks Road, Sutton Coldfield, West Midlands B72 1HT	-	-	2	Flat
£225K	07/23	0.86 mi	Flat 2, Oakhurst Court, Brooks Road, Sutton Coldfield, West Midlands B72 1HW	-	-	2	Flat
£260K	06/23	0.86 mi	Flat 5, Blakeley Court, Beardmore Road, Sutton Coldfield, West Midlands B72 1DQ	-	-	2	Flat
£235K	03/23	0.9 mi	Flat 5, Chartwell Court, Beardmore Road, Sutton Coldfield, West Midlands B72 1DF	-	-	2	Flat
£239K	09/21	0.91 mi	Flat 1, Chartwell Court, Beardmore Road, Sutton Coldfield, West Midlands B72 1DF	-	-	2	Flat
£70K	07/21	0.96 mi	74, Trident Close, Erdington, Birmingham, West Midlands B23 5TB	£1,303	54	2	Flat
£68K	03/21	0.96 mi	76, Trident Close, Erdington, Birmingham, West Midlands B23 5TB	£1,193	57	2	Flat
£65K	11/20	0.96 mi	58, Trident Close, Erdington, Birmingham, West Midlands B23 5TB	£1,102	59	2	Flat
£82K	11/22	0.96 mi	52, Trident Close, Erdington, Birmingham, West Midlands B23 5TB	-	-	2	Flat
£180K	04/23	0.99 mi	39m, Walmley Ash Road, Sutton Coldfield, West Midlands B76 1JA	-	-	2	Flat
£235K	12/22	0.99 mi	17, Checkley Croft, Sutton Coldfield, West Midlands B76 1GE	£4,352	54	2	Flat

Local Rents

50 rents from £750/mo to £1.8K/mo, average is £950/mo.

Rent	Date	Distance	Address	Beds	Type
£850	03/24	0.21 mi	-	2	Flat
£1,000	12/23	0.43 mi	-	2	Terraced House
£1,000	12/23	0.43 mi	-	2	Terraced House
£925	10/23	0.43 mi	-	2	Semi-Detached House
£995	08/24	0.45 mi	-	2	Flat
£1,250	03/25	0.46 mi	-	2	Semi-Detached House
£1,100	10/24	0.49 mi	-	2	Terraced House
£900	11/24	0.6 mi	-	2	Flat
£1,100	01/25	0.63 mi	-	2	Terraced House
£895	12/24	0.63 mi	Holly Park Drive, Erdington, Birmingham, West Midlands	2	Flat
£1,050	03/25	0.69 mi	-	2	Flat
£1,000	12/24	0.72 mi	Springslade Drive, BIRMINGHAM	2	Flat
£950	03/25	0.73 mi	-	2	Flat
£925	12/24	0.75 mi	Tyburn Road, Pype Hayes, Birmingham	2	Detached House
£950	12/24	0.76 mi	-	2	Flat
£750	09/24	0.76 mi	-	2	Flat
£800	12/24	0.78 mi	Portfield Grove, Birmingham, B23	2	Flat
£925	12/24	0.78 mi	Birmingham Road, Sutton Coldfield	2	Flat
£850	12/24	0.8 mi	Holly Lane, Birmingham, B24	2	Flat
£825	12/24	0.82 mi	-	2	Flat
£925	11/24	0.82 mi	-	2	Flat
£950	12/24	0.83 mi	-	2	Flat
£900	12/24	0.86 mi	Kingsbury Road, Erdington, Birmingham, West Midlands, B24	2	Terraced House
£1,050	11/24	0.86 mi	-	2	Flat
£1,200	02/24	0.86 mi	-	2	Flat
£1,250	12/24	0.86 mi	-	2	Flat
£900	12/24	0.87 mi	Kingsbury Road, Birmingham	2	Flat
£1,000	12/24	0.88 mi	Nexus Point, Edwards Road, Erdington, B24	2	Flat
£1,095	02/24	0.94 mi	-	2	Semi-Detached House
£900	03/25	0.97 mi	-	2	Flat
£1,100	12/24	0.98 mi	-	2	Terraced House
£950	12/24	1.03 mi	Laburnum Cottages, Sheffield Road, Boldmere, Sutton Coldfield	2	Flat
£995	03/25	1.03 mi	-	2	Terraced House
£1,000	03/25	1.05 mi	-	2	Flat
£950	12/24	1.05 mi	Johnson Road, Erdington	2	Flat
£995	02/25	1.06 mi	-	2	Terraced House
£1,000	01/24	1.1 mi	-	2	Flat
£1,000	12/24	1.11 mi	Osborne Road South, BIRMINGHAM	2	Flat
£895	03/25	1.12 mi	-	2	Flat
£995	03/25	1.13 mi	-	2	Terraced House
£995	03/25	1.13 mi	-	2	Terraced House
£925	12/24	1.13 mi	Gravelly Lane, BIRMINGHAM	2	Flat
£900	12/24	1.17 mi	South Grove, Erdington, BIRMINGHAM	2	Flat
£850	12/24	1.17 mi	Swan Gardens, Erdington, B23	2	Flat
£1,800	12/24	1.18 mi	-	2	Flat
£900	12/24	1.18 mi	Lyneham Gardens, Minworth, Sutton Coldfield	2	Flat
£750	12/24	1.18 mi	-	2	Flat
£750	11/24	1.18 mi	-	2	Flat
£850	12/24	1.18 mi	-	2	Flat
£800	01/25	1.19 mi	-	2	Flat

Local Area Statistics

Population in B24	28,25928,259
Population in Birmingham	1,034,8211,034,821
Town centre distance	5.24 miles away5.24 miles away
Nearest school	0.30 miles away0.30 miles away
Nearest train station	0.82 miles away0.82 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+25%+25%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+36%+36%

Property History

Listed for £140,000

July 31, 2024

Sold for £77,000

2004

Floor Plans

Description

Dixons are pleased to present this two bedroom duplex flat in Pype Hayes.

The property benefits from no upward chain and an extended lease.

Accommodation briefly comprises; living room/diner and kitchen on the ground floor, with two bedrooms and a family bathroom on the first floor.

The property further benefits from a balcony and communal gardens.

Early viewing is highly recommended to fully appreciate this property and to avoid disappointment.

Located on a cul-de-sac off Chester Road between Wylde Green, Erdington and Walmley.

The property has nearby shops, schools and amenities. There is also access into Pype Hayes park from the gardens for residents.

There are also motorway and transport links into the City Centre within a close proximity.

Agent Details

Dixons, Erdington

0121 387 6273

Next Steps?

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

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ValuationUndervalued

CashflowsOpen in Analyser

Local Sold PricesDownload Show map

Local RentsDownload Show map

Links

Local Area Statistics

Property History

Floor Plans

Description

Agent Details

Next Steps?

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Cashflows

Local Sold Prices

Local Rents