2 Bed Terraced House, Cash/Bridging Only, Kidderminster, DY10 3TB, £200,000

116 Castle Road, Kidderminster, Worcestershire, DY10 3TB - 2 views - 8 months ago

Sold STC
Cash
ROI: 2%
70 m²
+7 photos

ValuationOvervalued

Sold Prices£85K - £280K
Sold Prices/m²£1.3K/m² - £4.7K/m²

 

 

Square Metres

70 m²
Price/m²£2.9K/m²

Value Estimate

£174,493

 

 

End Value (After Refurb)

£188,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£50,000

Stamp Duty & Legal Fees

£7,350

Refurb Costs

£27,736

Bridging Loan Interest

£5,250

Total Cash In

£92,086

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£188,000

Mortgage (After Refinance)

£141,000

Mortgage LTV

75%

Cash Left In

£92,086

Equity

£47,000

Rent Range

£575 - £2,500

Rent Estimate

£1,000

Running Costs/mo

£808

Cashflow/mo

£193

Cashflow/yr

£2,310

ROI

3%

Gross Yield

6%

Local Sold Prices

50 sold prices from £85K to £280K, average is £171.5K. £1.3K/m² to £4.7K/m², average is £2.5K/m².

PriceDateDistanceAddressBeds 
£174.5K11/200.02 mi84, Castle Road, Cookley, Kidderminster, Worcestershire DY10 3TB2
£188K01/210.02 mi102, Castle Road, Cookley, Kidderminster, Worcestershire DY10 3TB2
£85K03/230.02 mi96, Castle Road, Cookley, Kidderminster, Worcestershire DY10 3TB2
£168K06/210.03 mi2, Portway Place, Cookley, Kidderminster, Worcestershire DY10 3UJ2
£182.5K02/210.12 mi11, Lionfields Road, Cookley, Kidderminster, Worcestershire DY10 3UG2
£89.5K09/230.21 mi6, Staite Drive, Cookley, Kidderminster, Worcestershire DY10 3UA2
£160K02/210.21 mi14, Staite Drive, Cookley, Kidderminster, Worcestershire DY10 3UA2
£165K01/210.21 mi16, Staite Drive, Cookley, Kidderminster, Worcestershire DY10 3UA2
£122.1K08/230.21 mi18, Staite Drive, Cookley, Kidderminster, Worcestershire DY10 3UA2
£250K03/211.02 mi3, Brookside Cottages, Wolverley Village, Kidderminster, Worcestershire DY11 5XA2
£195K12/221.02 mi9, Charles Avenue, Kidderminster, Worcestershire DY10 2YN2
£190K11/221.04 mi14, Dunnington Avenue, Kidderminster, Worcestershire DY10 2YR2
£226K12/201.12 mi243, Stourbridge Road, Kidderminster, Worcestershire DY10 2XB2
£172K08/231.12 mi93, Wolverhampton Road, Kidderminster, Worcestershire DY10 2UU2
£215K04/231.13 mi193, Sion Avenue, Kidderminster, Worcestershire DY10 2YJ2
£170K09/231.19 mi58, Pitt Street, Kidderminster, Worcestershire DY10 2UN2
£133K09/211.19 mi55, Pitt Street, Kidderminster, Worcestershire DY10 2UN2
£134K06/211.2 mi2, Wolverhampton Road, Kidderminster, Worcestershire DY10 2UR2
£155K01/211.2 mi3, Wolverhampton Road, Kidderminster, Worcestershire DY10 2UR2
£107K11/211.25 mi11, Lenchville, Kidderminster, Worcestershire DY10 2YU2
£275K03/231.33 mi53, Broadwaters Drive, Kidderminster, Worcestershire DY10 2RY2
£144K10/211.38 mi16, St Oswalds Close, Kidderminster, Worcestershire DY10 2QG2
£145K12/201.38 mi11, St Oswalds Close, Kidderminster, Worcestershire DY10 2QG2
£144K04/211.41 mi9, Frank Freeman Court, Kidderminster, Worcestershire DY10 2QL2
£167K04/211.47 mi80, Stourbridge Road, Kidderminster, Worcestershire DY10 2QB2
£140K08/231.47 mi114, Stourbridge Road, Kidderminster, Worcestershire DY10 2QB2
£240K09/211.48 mi19, Turton Street, Kidderminster, Worcestershire DY10 2TH2
£195K12/221.49 mi2, Brookdale, Kidderminster, Worcestershire DY10 2PY2
£120K06/211.5 mi365, Stourbridge Road, Kidderminster, Worcestershire DY10 2QE2
£130K09/211.56 mi134, Hurcott Road, Kidderminster, Worcestershire DY10 2RG2
£147K10/201.59 mi25, The Foxholes, Kidderminster, Worcestershire DY10 2QR2
£175K07/231.63 mi34, Greenhill Avenue, Kidderminster, Worcestershire DY10 2QU2
£195K10/231.65 mi26, The Deansway, Kidderminster, Worcestershire DY10 2RH2
£260K01/231.65 mi98, Hurcott Road, Kidderminster, Worcestershire DY10 2QT2
£185K02/211.67 mi34, The Deansway, Kidderminster, Worcestershire DY10 2RJ2
£189K02/231.69 mi26, Waterside Grange, Kidderminster, Worcestershire DY10 2LA2
£117K04/211.72 mi11, Larkhill, Kidderminster, Worcestershire DY10 2NN2
£260K06/211.73 mi28, Snowdon Close, Kidderminster, Worcestershire DY11 5JH2
£185K12/221.73 mi8, Meadow Sweet Place, Kidderminster, Worcestershire DY10 2HW2
£166K03/231.74 mi63, Shrubbery Street, Kidderminster, Worcestershire DY10 2QY2
£260K02/211.74 mi2, Somerset Drive, Kidderminster, Worcestershire DY11 5JG2
£280K11/211.74 mi11, Cornwall Avenue, Kidderminster, Worcestershire DY11 5JF2
£141K08/211.76 mi49, Adams Court, Kidderminster, Worcestershire DY10 2SF2
£200K06/211.76 mi3, Holly Court, Kidderminster, Worcestershire DY10 2HP2
£171K11/221.77 mi52, Hurcott Road, Kidderminster, Worcestershire DY10 2QJ2
£223K11/211.77 mi116, Beeches Road, Kidderminster, Worcestershire DY11 5JB2
£245K06/211.78 mi11, Pinewood Close, Kidderminster, Worcestershire DY11 5JJ2
£265K11/221.82 mi15, Highlow Avenue, Kidderminster, Worcestershire DY11 5JD2
£165K11/201.83 mi82, Baxter Avenue, Kidderminster, Worcestershire DY10 2HB2
£130K08/231.84 mi7, Long Acre, Kidderminster, Worcestershire DY10 2HA2

Local Rents

54 rents from £575/mo to £2.5K/mo, average is £950/mo.

RentDateDistanceAddressBeds 
£65004/230.02 mi-1
£1,25003/240.1 mi-3
£1,20003/240.14 miShrubbery Close, Cookley, KIDDERMINSTER3
£92502/250.22 mi-2
£1,79512/240.45 miCastle Barns, Cookley, Kidderminster, DY103
£1,30012/240.8 miWolverley Road, Wolverley, Kidderminster3
£1,45012/240.85 miWolverley Road, Wolverley4
£1,20012/240.91 miWolverley Village, Wolverley2
£77504/241.05 mi-2
£1,30012/241.09 miBlakeshall, Wolverley, KIDDERMINSTER3
£87503/241.15 miPitt Street, Kidderminster, Worcestershire, DY103
£1,10003/251.19 mi-2
£1,10003/251.19 mi-2
£90003/241.25 miLenchville, Kidderminster3
£90012/241.25 miLenchville, KIDDERMINSTER3
£1,20009/241.26 mi-3
£95003/241.28 miUpton Road, Kidderminster3
£95012/241.28 miUpton Road, Kidderminster3
£92504/241.28 mi-2
£92512/241.28 miStourbridge Road, Kidderminster, DY102
£90012/241.51 mi-3
£85004/251.51 mi-2
£2,50012/241.53 miPinewoods, Kingsford Lane, Wolverley, DY11 5SL4
£90012/241.56 miHurcott Road, KIDDERMINSTER3
£90012/241.66 mi-3
£1,10003/251.66 mi-3
£1,35004/251.67 mi-1
£1,39512/241.68 mi-3
£1,39512/241.68 mi-3
£82503/241.72 miWaterside Grange, KIDDERMINSTER2
£85004/241.72 miWaterside Grange, KIDDERMINSTER3
£99512/241.73 miChester Road North, KIDDERMINSTER3
£79512/241.73 mi-2
£79503/241.73 miBaldwin Road, Worcestershire, DY102
£85012/241.74 mi-3
£85012/241.74 mi-3
£1,10012/241.75 miCoates Road, Kidderminster3
£72503/241.75 miAdams Court, Kidderminster, Worcestershire2
£60012/241.76 miAdams Court, KIDDERMINSTER2
£1,10003/241.76 miWestcott Road, Kidderminster, DY103
£1,10012/241.76 miWestcott Road, Kidderminster, DY103
£1,15006/241.76 mi-3
£1,15006/241.76 mi-3
£1,15006/241.76 mi-3
£62504/231.77 mi-2
£62504/231.77 mi-2
£82512/241.79 mi-2
£95012/241.82 miCourt Close, Kidderminster, Worcestershire3
£1,65003/241.82 miBirmingham Road, KIDDERMINSTER3
£57512/241.84 mi6 Woodchester42 Broad StreetKidderminster1
£85012/241.84 miLong Acre, KIDDERMINSTER2
£1,12512/241.86 miMerton Close, Kidderminster, Worcestershire3
£80009/241.89 mi-2
£1,20003/241.9 miBaxter Avenue, KIDDERMINSTER4

Local Area Statistics

Population in DY10

35,493

Population in Kidderminster

74,037

Town centre distance

2.23 miles away

Nearest school

0.10 miles away

Nearest train station

2.40 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+4%

Sales demand

Balanced market

Capital growth (5yrs)

+38%

Property History

Price changed to £200,000

December 17, 2024

Listed for £205,000

August 2, 2024

Sold for £95,500

2003

Sold for £52,000

1999

Floor Plans

Description

  • Characterful two bedroom home +
  • Open plan living and dining area +
  • Private patio and garden +
  • Block paved frontage +
  • In the charming village of Cookley +

A charming home with a private garden, in the peaceful Wyre Forest village of Cookley.

The kitchen
The kitchen is a bright and functional space featuring modern white cabinetry, wooden style countertops and ample natural light from a large window. A rear glass panelled door grants access to the garden and further enhances the flow through the property.

The living room
As you enter the property you are met with the open plan living and dining area. A large window floods the generous space with light, while a tiled fireplace is the focal point of the room, creating a warm and cosy ambience.

This spacious open plan area comfortably accommodates dining furniture, making it ideal for family gatherings, entertaining guests and everyday living. The seamless flow between the living and dining areas enhances the sense of space and functionality, creating a versatile and comfortable environment.
Steps lead down to a cellar equipped with a radiator, offering a flexible space suitable for various uses or additional storage.

The primary bedroom
The primary bedroom features generous floor space for furniture and storage. A charming, traditional wooden door adds character to this serene retreat.

The second bedroom
To the rear of the property the bright second bedroom looks out over the private garden. Currently utilised as a children’s bedroom, this space would also make a great home office.

The bathroom
Between the two bedrooms is the family bathroom, featuring a bath with shower, WC and basin. The room is completed with wooden panelling and functional tiling.

The garden
The private garden of this property features a stretch of lawn, making it ideal for families with children or pets. It includes a patio area perfect for alfresco dining. The combination of lawn space and functional features creates a versatile and enjoyable outdoor area for all family members.

Cookley, a picturesque village near Kidderminster in Worcestershire, is renowned for its scenic countryside and tranquil atmosphere. Surrounded by lush greenery and rolling hills, Cookley offers residents a peaceful rural lifestyle while still being within easy reach of urban conveniences. The village itself exudes a quaint charm, with traditional cottages, local shops and a close-knit community.
In terms of amenities, Cookley is well-equipped to cater to the needs of its residents. The village boasts a variety of local shops, a primary school and several recreational facilities, including parks and sports clubs. These amenities ensure that daily necessities and leisure activities are easily accessible without the need to travel far. For more extensive shopping, dining and entertainment options, the nearby town of Kidderminster provides a wider array of choices.
Transport links from Cookley are highly convenient, making it an ideal location for commuters and travellers. The village is well-connected by road, with easy access to the A449 and A442, leading to major routes such as the M5 and M42. This connectivity allows for straightforward commutes to Birmingham, Worcester and other significant towns and cities in the West Midlands. Additionally, Kidderminster railway station offers regular train services to Birmingham, London and other key destinations.

The property benefits from mains gas, water, electricity and drainage.

Council tax band B

Reservation Fee - refundable on exchange

A reservation fee, refundable on exchange, is payable prior to the issue of the Memorandum of Sale and after which the property may be marked as Sold Subject to Contract. The fee will be reimbursed upon the successful Exchange of Contracts.

The fee will be retained by Andrew Grant in the event that you the buyer withdraws from the purchase or does not Exchange within 6 months of the fee being received other than for one or more of the following reasons:

1. Any significant material issues highlighted in a survey that were not evident or drawn to the attention of you the buyer prior to the Memorandum of Sale being issued.
2. Serious and material defect in the seller’s legal title.
3. Local search revealing a matter that has a material adverse effect on the market value of the property that was previously undeclared and not in the public domain.
4. The vendor withdrawing the property from sale.

The reservation fee, equivalent to 0.5% of the accepted offer unless specified otherwise, is payable upon acceptance by the vendor of an offer from a buyer and a positive completion of an assessment of the buyer’s financial status and ability to proceed.

Should a buyer’s financial position regarding the funding of the property prove to be fundamentally different from that declared by the buyer when the Memorandum of Sale was completed, then the Vendor has the right to withdraw from the sale and the reservation fee retained. For example, where the buyer declares themselves as a cash buyer but are in fact relying on an unsecured sale of their property.

Once the reservation fee has been paid, any renegotiation of the price stated in the memorandum of sale for any reason other than those covered in points 1 to 3 above will lead to the reservation fee being retained. A further fee will be levied on any subsequent reduced offer that is accepted by the vendor. This further fee will be subject to the same conditions that prevail for all reservation fees outlined above.

Agent Details

Andrew Grant, Covering the West Midlands

01905 673182

Next Steps?

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