2 Bed Flat, Refurb/BRRR, Birmingham, B42 2QU, £95,000

65 Vicarage Close, Birmingham, West Midlands, B42 2QU - 32 views - 8 months ago

Sold STC
Leasehold
BTL
Refurb/BRRR
ROI: 7%
~51 m²
+9 photos

ValuationFair Value

Sold Prices£60K - £136K
Sold Prices/m²£1.1K/m² - £3.4K/m²

 

 

Square Metres

~51.32 m²
Price/m²£1.9K/m²

Value Estimate

£96,485

 

 

End Value (After Refurb)

£130,215

Uplift in Value

+37%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£23,750

Stamp Duty & Legal Fees

£4,050

Refurb Costs

£20,305

Bridging Loan Interest

£2,494

Total Cash In

£52,349

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£130,215

Mortgage (After Refinance)

£97,661

Mortgage LTV

75%

Cash Released

£26,411

Cash Left In

£25,937

Equity

£32,554

Rent Range

£800 - £2,500

Rent Estimate

£900

Running Costs/mo

£607

Cashflow/mo

£293

Cashflow/yr

£3,517

ROI

7%

Gross Yield

11%

Local Sold Prices

21 sold prices from £60K to £136K, average is £85K. £1.1K/m² to £3.4K/m², average is £2K/m².

PriceDateDistanceAddressBeds 
£85.5K10/210.02 mi8, Vicarage Close, Birmingham, West Midlands B42 2QU2
£125.2K06/220.02 mi57, Vicarage Close, Birmingham, West Midlands B42 2QU2
£65K10/210.03 mi3, Vicarage Close, Birmingham, West Midlands B42 2QU2
£120K04/220.03 mi55, Vicarage Close, Birmingham, West Midlands B42 2QU2
£72K07/220.04 mi291, Beeches Road, Birmingham, West Midlands B42 2QR2
£136K12/220.34 miFlat 7, Andrew Court, Greenholm Road, Birmingham, West Midlands B44 8HJ2
£125K02/220.44 mi904, Aldridge Road, Great Barr, Birmingham, West Midlands B44 8NT2
£106K11/200.6 mi69, Darleydale Avenue, Birmingham, West Midlands B44 9UW2
£116K11/210.61 mi56, Blenheim Way, Great Barr, Birmingham, West Midlands B44 8LF2
£60K03/230.61 mi54, Blenheim Way, Great Barr, Birmingham, West Midlands B44 8LF2
£116K11/210.61 mi56, Blenheim Way, Great Barr, Birmingham, West Midlands B44 8LF2
£130K02/230.73 mi24, Oscott School Lane, Birmingham, West Midlands B44 9AE2
£129K04/210.9 mi8, Beasley Grove, Birmingham, West Midlands B43 7HG2
£65.5K05/210.98 miFlat 54, St Annes Court, St Annes Way, Birmingham, West Midlands B44 0HN2
£75K06/210.98 miFlat 47, St Annes Court, St Annes Way, Birmingham, West Midlands B44 0HN2
£70K05/210.98 miFlat 12, St Annes Court, St Annes Way, Birmingham, West Midlands B44 0HN2
£66K03/210.98 miFlat 56, St Annes Court, St Annes Way, Birmingham, West Midlands B44 0HN2
£68.5K04/210.98 miFlat 22, St Annes Court, St Annes Way, Birmingham, West Midlands B44 0HN2
£75K04/230.98 miFlat 17, St Annes Court, St Annes Way, Birmingham, West Midlands B44 0HN2
£85K04/230.98 miFlat 12a, St Annes Court, St Annes Way, Birmingham, West Midlands B44 0HN2
£74K01/220.98 miFlat 26, St Annes Court, St Annes Way, Birmingham, West Midlands B44 0HN2

Local Rents

14 rents from £800/mo to £2.5K/mo, average is £963/mo.

RentDateDistanceAddressBeds 
£80012/240.02 miVicarage Close Great Barr Birmingham B42 2QU2
£80012/240.02 miVicarage Close Great Barr Birmingham B42 2QU2
£1,10003/250.04 mi-2
£1,05004/250.32 mi-2
£1,05004/250.32 mi-2
£90012/240.34 miLongstone Road, Perry Bar, Birmingham, B422
£92512/240.4 miRegina Avenue, Kingstanding2
£1,00012/240.41 miElliston Avenue, BIRMINGHAM2
£2,50003/250.51 mi-2
£1,00004/250.53 mi-2
£1,15011/240.61 mi-2
£90012/240.61 miBirdbrook Road, BIRMINGHAM2
£89503/250.62 mi-2
£89503/250.62 mi-2

Local Area Statistics

Population in B42

23,647

Population in Birmingham

1,034,821

Town centre distance

5.17 miles away

Nearest school

0.20 miles away

Nearest train station

1.24 miles away

 

 

Rental growth (12m)

+19%

Sales demand

Seller's market

Capital growth (5yrs)

+41%

Property History

Price changed to £95,000

September 25, 2024

Listed for £100,000

August 10, 2024

Sold for £36,000

1998

Floor Plans

Description

  • Tenure - Leasehold +
  • Potential Rental Income - £900pcm +
  • Council Tax Band - A +
  • EPC - E (Potential - D) +
  • Ground Floor with Garden & Allocated Garage +
  • Ground Rent - £0 pa & Service Charge-£0 pa +
  • PRICED FOR IMMEDIATE SALE - VACANT & CHAIN FREE +
  • Potential Yield - 9.8% +
  • Lease Length - 133 years +

PRICED TO SELL– VACANT & CHAIN FREE IDEAL FIRST TIME HOME OR BUY TO LET POTENTIAL RENTAL INCOME - £900pcm
POTENTIAL YIELD - 9.8% TENURE – Leasehold
LEASE LENGTH – 133 years
GROUND RENT – £0pa
SERVICE CHARGE - £0pa COUNCIL TAX BAND – A
EPC RATING – E (Potential - D) We're pleased to be marketing this two bedroom ground floor garden flat which offers an ideal renovation opportunity and located in the popular area for Birmingham, which benefits from easy access to the local schools, the M6 motorway and supermarkets. The property briefly comprises of hallway which leads into the living/dining room, a separate kitchen, two double bedrooms and a family bathroom. The outside benefits from a garden, and there is also allocated parking to the front of the property, and an allocated garage in the block. NB. In accordance with Section 21 of the Estate Agent Act 1979, we declare that there is a personal interest in the sale of this property. The property is being sold by Director’s of Move Places Ltd. 1. MONEY LAUNDERING REGULATIONS - Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2: These particulars do not constitute part or all of an offer or contract.
3: The measurements indicated are supplied for guidance only and as such must be considered incorrect.
4: Potential buyers are advised to recheck the measurements before committing to any expense.
5: MP has not tested any apparatus, equipment, fixtures, fittings or services and it is the buyers interests to check the working condition of any appliances.
6: MP has not sought to verify the legal title of the property and the buyers must obtain verification from their solicitor. A Buyer’s Reservation Fee forms part of any agreed purchase price Please contact branch for more information.

Agent Details

Move Places Limited, Gerrards Cross

01753 362424

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