3 Bed Terraced House, Refurb/BRRR, Blackpool, FY1 4AA, £68,000

Ribble Road, Blackpool, Lancashire, FY1 4AA - 4 views - 8 months ago

Refurb/BRRR
ROI: 9%
~93 m²
+4 photos

ValuationFair Value

Sold Prices£75K - £185K
Sold Prices/m²£559/m² - £1.8K/m²

 

 

Square Metres

~93 m²
Price/m²£731/m²

Value Estimate

£68,680

 

 

End Value (After Refurb)

£86,229

Uplift in Value

+27%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£17,000

Stamp Duty & Legal Fees

£3,240

Refurb Costs

£38,000

Bridging Loan Interest

£1,785

Total Cash In

£61,775

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£86,229

Mortgage (After Refinance)

£64,672

Mortgage LTV

75%

Cash Released

£13,672

Cash Left In

£48,103

Equity

£21,557

Rent Range

£695 - £2,000

Rent Estimate

£937

Running Costs/mo

£477

Cashflow/mo

£460

Cashflow/yr

£5,522

ROI

9%

Gross Yield

17%

Local Sold Prices

50 sold prices from £75K to £185K, average is £114.8K. £559/m² to £1.8K/m², average is £1.1K/m².

PriceDateDistanceAddressBeds 
£110K10/220.09 mi26, Livingstone Road, Blackpool FY1 4BZ3
£125K01/230.14 mi159, Park Road, Blackpool FY1 4ET3
£120K04/230.14 mi151, Park Road, Blackpool FY1 4ET3
£80K11/210.15 mi82, Erdington Road, Blackpool FY1 5EH3
£95K05/210.16 mi130, Park Road, Blackpool FY1 4ES3
£83.5K04/230.19 mi96, Erdington Road, Blackpool FY1 5EL3
£150K11/220.19 mi27, Blenheim Avenue, Blackpool FY1 4ER3
£132.5K06/210.22 mi57, Blenheim Avenue, Blackpool FY1 4ER3
£98K12/200.22 mi28, Blenheim Avenue, Blackpool FY1 4ER3
£119K12/200.22 mi41, Blenheim Avenue, Blackpool FY1 4ER3
£118K09/210.22 mi29, Blenheim Avenue, Blackpool FY1 4ER3
£120K01/230.22 mi26, Blenheim Avenue, Blackpool FY1 4ER3
£101K02/210.26 mi127, Westmorland Avenue, Blackpool FY1 5PF3
£123K04/230.27 mi62, Cumberland Avenue, Blackpool FY1 5QH3
£114.5K03/230.27 mi43, Cumberland Avenue, Blackpool FY1 5QH3
£85K01/210.27 mi162, Park Road, Blackpool FY1 5QN3
£108K02/230.28 mi18, Westmorland Avenue, Blackpool FY1 5LG3
£100K01/230.28 mi86, Lune Grove, Blackpool FY1 5PH3
£90K10/210.29 mi58, Grasmere Road, Blackpool FY1 5PQ3
£95K11/210.33 mi9, Queen Victoria Road, Blackpool FY1 5LF3
£80K01/230.35 mi27, Wyre Grove, Blackpool FY1 5PW3
£109K10/210.35 mi5, Lincoln Road, Blackpool FY1 4HA3
£185K03/230.35 mi39, Lincoln Road, Blackpool FY1 4HA3
£104K05/210.36 mi254, Palatine Road, Blackpool FY1 4DU3
£110K03/230.36 mi230, Palatine Road, Blackpool FY1 4DU3
£167K02/210.37 mi64, Gloucester Avenue, Blackpool FY1 4EJ3
£113K01/210.37 mi17, Longton Road, Blackpool FY1 4HW3
£166.5K07/230.37 mi32, Longton Road, Blackpool FY1 4HW3
£92K03/210.37 mi31, Manor Road, Blackpool FY1 4EA3
£90K05/230.37 mi15, Manor Road, Blackpool FY1 4EA3
£92K03/210.37 mi31, Manor Road, Blackpool FY1 4EA3
£108K04/210.37 mi45, Manor Road, Blackpool FY1 4EA3
£125K10/210.37 mi27, Gainsborough Road, Blackpool FY1 4DZ3
£120K06/230.38 mi68, Manor Road, Blackpool FY1 4EB3
£115K07/210.38 mi163, Palatine Road, Blackpool FY1 4DX3
£145K10/200.38 mi38, Cumberland Avenue, Blackpool FY1 5QL3
£165K11/200.38 mi7, Cumberland Avenue, Blackpool FY1 5QL3
£107K12/200.38 mi37, St Albans Road, Blackpool FY1 4EG3
£120K06/230.38 mi11, St Albans Road, Blackpool FY1 4EG3
£95K12/200.38 mi47, Portland Road, Blackpool FY1 4ED3
£170K02/210.39 mi177, Reads Avenue, Blackpool FY1 4HZ3
£185K03/210.39 mi174, Westmorland Avenue, Blackpool FY1 5QW3
£119.5K12/200.39 mi194, Park Road, Blackpool FY1 5QS3
£75K12/200.39 mi26, Levens Grove, Blackpool FY1 5PP3
£170K06/230.4 mi199, Westmorland Avenue, Blackpool FY1 5QR3
£130K01/210.4 mi171, Westmorland Avenue, Blackpool FY1 5QR3
£179.9K06/230.4 mi179, Westmorland Avenue, Blackpool FY1 5QR3
£124K12/200.41 mi52, Bela Grove, Blackpool FY1 5PR3
£124K12/200.41 mi52, Bela Grove, Blackpool FY1 5PR3
£88K02/230.41 mi17, Bela Grove, Blackpool FY1 5PR3

Local Rents

35 rents from £695/mo to £2K/mo, average is £850/mo.

RentDateDistanceAddressBeds 
£2,00002/250.08 mi-3
£2,00002/250.08 mi-3
£72504/240.11 miHarrison Street, Blackpool, Lancashire, FY13
£77504/240.15 miErdington Road, Blackpool3
£1,20003/250.17 mi-3
£90002/250.21 mi-3
£70004/240.24 miFlat 2, 16 Coop Street3
£80005/240.26 mi-3
£80005/240.26 mi-3
£80004/240.27 miPark Road, Blackpool, FY1 5QN3
£1,50003/250.31 mi-3
£82504/240.32 miBickerstaffe Street, Blackpool3
£90004/240.34 miSouth King Street, Blackpool3
£82504/240.35 miWyre Grove, Blackpool3
£1,10004/240.35 miPrincess Street3
£80005/240.37 mi28 Gloucester Avenue3
£69503/250.37 mi-3
£90005/240.37 mi57 Gainsborough Road, Blackpool. FY1 4DZ3
£1,10005/240.37 mi-3
£1,10004/240.37 mi92 Grasmere Road3
£95001/250.39 mi-3
£85005/240.46 mi-3
£70004/240.49 miPeter Street, Blackpool, FY1 3LT3
£79504/240.51 miAnsdell Road, Blackpool, Lancashire, FY15LX3
£95001/240.55 mi-3
£85004/240.57 mi34 Woodland Grove3
£80004/240.59 mi16 Harley Road, Blackpool, FY3 9DY3
£75004/240.6 miCaunce Street, Blackpool3
£85001/250.61 mi-3
£85005/240.61 mi-3
£79512/240.61 mi-3
£79501/250.61 mi-3
£95005/240.61 mi-3
£75004/240.62 miCunliffe Road, Blackpool, FY1 6SD3
£90004/240.62 miWilkinson Avenue, Blackpool3

Local Area Statistics

Population in FY1

33,505

Population in Blackpool

133,713

Town centre distance

1.52 miles away

Nearest school

0.30 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

Listed for £68,000

August 1, 2024

Floor Plans

Description

  • BAY FRONTED TERRACE +
  • 3 BEDS +
  • 2 RECEPTIONS +
  • REQUIRES MODERNISATION THROUGHOUT +
  • NO CHAIN +

. BAY FRONTED MID TERRACE
. 3 BEDROOMS & 2 RECEPTIONS
. UPVC DOUBLE GLAZING & GAS FIRED CENTRAL HEATING
. SOUTH FACING COURTYARD
. REQUIRING MODERNISATION

DESCRIPTION Located on the threshold of Blackpool town centre with all its amenities, this traditional bay fronted terrace boasts spacious accommodation which requires modernisation throughout. Warmed by gas fired central heating and complemented by UPVC double glazing, features include entrance vestibule, entrance hall, two separate receptions, kitchen, landing, three bedrooms and a bathroom and separate W.C. Outside the property is pavement fronted and resident permit parking is available, and to the rear is a sunny south facing courtyard.

LOCATION Proceeding out of Blackpool along Park road and go straight ahead at the traffic light junction with Palatine Road. Turn right into Ashton Road, right into Clinton Avenue and at the end turn left into Ribble Road.

The accommodation comprises:-

ON THE GROUND FLOOR

ENTRANCE VESTIBULE

ENTRANCE HALL Stairs, radiator.

LOUNGE 16'4 X 10'8. UPVC double glazed window, radiator, fitted cupboard.

DINING ROOM 15'1 X 11'2. UPVC double glazed window, radiator, fitted cupboard.

KITCHEN 10'5 X 8'11. Single bowl single drainer stainless steel sink unit, electric cooker point, understairs storage cupboard, UPVC double glazed window and door.

ON THE FIRST FLOOR

LANDING Skylight, loft access, storage cupboard.

BEDROOM NO 1 15'0 X 8'8. UPVC double glazed window, radiator, feature fireplace.

BEDROOM NO 2 10'8 X 6'8. UPVC double glazed window.

BEDROOM NO 3 13'4 X 7'5. UPVC double glazed window, feature fireplace.

BATHROOM Panelled bath, pedestal wash hand basin, UPVC double glazed window.

SEPARATE W.C W.C - low suite, wash and basin, UJPVC double glazed window.

OUTSIDE

SOUTH FACING COURTYARD

BRICK WASHROOM Plumbing for washing machine, Main boiler.

TENURE Freehold.

SERVICES All mains services - gas fired central heating.

VIEWINGS Only by prior appointment through Duncan Raistrick Estate Agents. Tel:- - open 7 days a week.

Agent Details

Duncan Raistrick, Blackpool

01253 835382

Next Steps?

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