5 Bed HMO, Birmingham, B29 6JY, £300,000

31 Lottie Road, Birmingham, West Midlands, B29 6JY - 5 views - 7 months ago

Sold STC
HMO
ROI: 1%
78 m²
+8 photos

ValuationOvervalued

Sold Prices£200K - £900K
Sold Prices/m²£1.8K/m² - £4.2K/m²

 

 

Square Metres

78.40 m²
Price/m²£3.8K/m²

Value Estimate

£245,723

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£75,000

Stamp Duty & Legal Fees

£12,700

Total Cash In

£87,700

 

 

Cash Out

 

Room Rate

£400

Gross Rent

£2,000

Running Costs/mo

£1,916

Cashflow/mo

£84

Cashflow/yr

£1,005

ROI

1%

Gross Yield

8%

Local Sold Prices

22 sold prices from £200K to £900K, average is £572.5K. £1.8K/m² to £4.2K/m², average is £3.1K/m².

PriceDateDistanceAddressBeds 
£200K02/210.06 mi6, Lottie Road, Selly Oak, Birmingham, West Midlands B29 6JZ5
£228K02/230.29 mi28, Rachel Gardens, Birmingham, West Midlands B29 6NY5
£400K06/210.33 mi216, Hubert Road, Selly Oak, Birmingham, West Midlands B29 6EP5
£260K07/210.36 mi278, Hubert Road, Selly Oak, Birmingham, West Midlands B29 6EP5
£294K05/210.37 mi146, Lodge Hill Road, Birmingham, West Midlands B29 6NG5
£302K11/200.37 mi142, Lodge Hill Road, Birmingham, West Midlands B29 6NG5
£410K09/200.47 mi78, Dale Road, Birmingham, West Midlands B29 6AG5
£570K08/230.52 mi51, Weoley Park Road, Selly Oak, Birmingham, West Midlands B29 6QZ5
£246.5K03/210.54 mi9, Bideford Drive, Selly Oak, Birmingham, West Midlands B29 6QG5
£685K11/200.54 mi57, Linden Road, Bournville, Birmingham, West Midlands B30 1JT5
£425K02/210.63 mi26, Bournbrook Road, Birmingham, West Midlands B29 7BJ5
£685K10/220.63 mi42, Serpentine Road, Selly Park, Birmingham, West Midlands B29 7HU5
£730K02/230.71 mi142, Selly Park Road, Selly Park, Birmingham, West Midlands B29 7LH5
£620K06/210.77 mi49, Selly Park Road, Selly Park, Birmingham, West Midlands B29 7PH5
£710K03/220.83 mi344, Bristol Road, Birmingham, West Midlands B5 7SN5
£795.5K05/230.86 mi41a, Upland Road, Selly Park, Birmingham, West Midlands B29 7JS5
£575K01/220.87 mi79, Middle Park Road, Selly Oak, Birmingham, West Midlands B29 4BP5
£630K03/220.9 mi336, Bristol Road, Birmingham, West Midlands B5 7SN5
£280K06/210.93 mi960, Pershore Road, Selly Park, Birmingham, West Midlands B29 7PU5
£725K03/210.94 mi31, Selly Wick Road, Selly Park, Birmingham, West Midlands B29 7JJ5
£900K08/220.94 mi15, Selly Wick Road, Selly Park, Birmingham, West Midlands B29 7JJ5
£725K03/210.94 mi31, Selly Wick Road, Selly Park, Birmingham, West Midlands B29 7JJ5

Local Area Statistics

Population in B29

42,512

Population in Birmingham

1,034,821

Town centre distance

3 miles away

Nearest school

0.20 miles away

Nearest train station

0.18 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

-16%

Sales demand

Seller's market

Capital growth (5yrs)

+27%

Property History

Listed for £300,000

August 9, 2024

Sold for £150,000

2008

Description

  • Investment +
  • Tenanted until July 2025 +
  • Ready to go investment +
  • 5 Bedrooms +
  • 2 Bathrooms +
  • HMO +

Presenting a fantastic investment opportunity in the sought-after area of Selly Oak, this spacious 5-bedroom, 2-bathroom HMO property is spread over three floors, offering ample living space.

The ground floor benefits from a well-executed rear extension, enhancing the property's appeal and functionality.

With a current rental income of £24,000 per annum, this property generates a healthy yield, making it an attractive proposition for investors.

Situated in a popular student area, close to the University of Birmingham, local amenities, and excellent transport links, this property ensures consistent demand and high occupancy rates.

**Let until June 2025! **

Agent Details

PURPLE FROG ASSET MANAGEMENT LIMITED, Birmingham

020 3514 1592

Next Steps?

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