2 Bed Flat, Refurb/BRRR, Blackpool, FY3 9DY, £115,000

Harley Road, Blackpool, Lancashire, FY3 9DY - 4 views - 8 months ago

Sold STC
Refurb/BRRR
ROI: 5%
~56 m²
+9 photos

ValuationOvervalued

Sold Prices£45K - £150K
Sold Prices/m²£606/m² - £2.1K/m²

 

 

Square Metres

~56.47 m²
Price/m²£2K/m²

Value Estimate

£49,300

 

 

End Value (After Refurb)

£106,375

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£28,750

Stamp Duty & Legal Fees

£4,650

Refurb Costs

£23,067

Bridging Loan Interest

£3,019

Total Cash In

£61,236

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£106,375

Mortgage (After Refinance)

£79,781

Mortgage LTV

75%

Cash Left In

£61,236

Equity

£26,594

Rent Range

£520 - £1,350

Rent Estimate

£731

Running Costs/mo

£499

Cashflow/mo

£232

Cashflow/yr

£2,789

ROI

5%

Gross Yield

8%

Local Sold Prices

22 sold prices from £45K to £150K, average is £61.8K. £606/m² to £2.1K/m², average is £957/m².

PriceDateDistanceAddressBeds 
£65K04/210.21 miFlat 39, Grizedale Court, Forest Gate, Blackpool FY3 9AP2
£78K03/210.34 mi9, Somerset Court, Blackpool FY1 5QQ2
£77K10/220.38 miFlat 6, Dutton Court, Dutton Road, Blackpool FY3 8DH2
£58K05/210.56 mi26, Condor Grove, Blackpool FY1 5LT2
£63.5K05/210.57 mi162 - 164, Caunce Street, Blackpool FY1 3NJ2
£90K04/230.67 mi36, Lomond Avenue, Blackpool FY3 9QL2
£55K03/210.67 mi55a, Grasmere Road, Blackpool FY1 5HP2
£50K07/210.67 mi59f, Grasmere Road, Blackpool FY1 5HP2
£58K02/210.67 mi53f, Grasmere Road, Blackpool FY1 5HP2
£52.5K03/230.71 mi22, Condor Grove, Blackpool FY1 5JU2
£87K01/230.73 miFlat C, 189, Bloomfield Road, Blackpool FY1 6QH2
£60K08/220.74 mi88, Gorton Street, Blackpool FY1 3HP2
£107.5K05/210.79 mi49, Topping Street, Blackpool FY1 3AF2
£78K12/220.83 mi2f, South Lawn, Blackpool FY4 4BN2
£55K07/230.84 mi1c, South Lawn, Blackpool FY4 4BN2
£45K03/210.84 mi1d, South Lawn, Blackpool FY4 4BN2
£150K10/200.84 mi176, Preston Old Road, Blackpool FY3 9QY2
£49.5K11/200.85 mi408f, Waterloo Road, Blackpool FY4 4BL2
£58K04/230.85 mi408c, Waterloo Road, Blackpool FY4 4BL2
£65K11/210.9 miFlat 8, The Maltings, Yorkshire Street, Blackpool FY1 5BF2
£51K11/200.94 mi102, Spencer Court, Blackpool FY1 3TP2
£80K07/221 mi21, Eccleston Road, Blackpool FY1 6AU2

Local Rents

51 rents from £520/mo to £1.4K/mo, average is £725/mo.

RentDateDistanceAddressBeds 
£82512/240.05 mi-2
£75002/250.05 mi-2
£75004/240.08 mi-2
£82501/250.14 mi-2
£82503/250.14 mi-2
£55005/240.21 miPortland Road, Blackpool2
£56304/240.22 miPortland Road, Blackpool, FY1 4EF2
£79512/240.23 mi-2
£99504/240.23 mi-2
£72504/240.26 miReads Avenue, Blackpool, Lancashire, FY12
£60004/240.26 miFlat B,164 Reads Avenue, Blackpool, Lancashire, FY12
£75004/240.27 miHornby Road, Blackpool2
£80006/240.28 mi-2
£80005/240.28 miNewton Drive, Blackpool, FY32
£80012/240.28 mi-2
£80003/250.28 mi-2
£95004/240.29 mi-2
£85004/240.29 mi-2
£77505/240.3 miWhitley Avenue, Blackpool, Lancashire, FY32
£62504/240.34 miSomerset Court, Blackpool, Lancashire, FY12
£85004/240.38 miWhitegate Drive, Blackpool, Lancashire, FY32
£62504/240.4 mi-2
£75005/240.42 mi-2
£75004/240.42 miNewton Drive, Blackpool, FY32
£77502/250.42 mi-2
£70012/240.42 mi-2
£69505/240.42 mi-2
£69505/240.42 mi-2
£69505/240.42 miWhitegate Drive, Blackpool, FY32
£72504/240.42 miWhitegate Drive, Blackpool, FY32
£72504/240.42 mi-2
£65004/240.43 mi-2
£70004/250.43 mi-2
£1,35001/240.46 mi-2
£1,35001/250.46 mi-2
£52001/250.46 mi-2
£68512/240.47 mi-2
£62504/240.48 miAshton Road, Blackpool2
£70004/240.48 miWestmorland Avenue, Blackpool2
£85002/250.5 mi-2
£64903/250.51 mi-2
£70002/250.51 mi-2
£59502/250.51 mi-2
£57505/240.52 miDanesbury Place, BLACKPOOL, FY1 3LX2
£67504/240.52 mi-2
£67504/240.52 miAnderson Street, Blackpool, FY12
£78004/240.53 miCunliffe Road, Blackpool, Lancashire, FY12
£62503/250.54 mi-2
£55003/250.55 mi-2
£90004/240.57 miAshton Road,Blackpool,FY12
£77502/250.57 mi-2

Local Area Statistics

Population in FY3

31,569

Population in Blackpool

133,713

Town centre distance

0.93 miles away

Nearest school

0.20 miles away

Nearest train station

0.84 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

+2%

Sales demand

Balanced market

Capital growth (5yrs)

+15%

Property History

Listed for £115,000

August 19, 2024

Floor Plans

Description

Introducing a remarkable investment opportunity in the vibrant locale of Harley Road, Blackpool, FY3 9. This residential property presents a compelling prospect for investors seeking a prime location and lucrative returns. Priced at £115,000.00, this property consists of two 1-bedroom flats, offering a unique opportunity to capitalize on the thriving rental market. The ground floor flat is already tenanted, providing immediate rental income, while the first-floor flat presents the chance for full renovation, allowing for increased rental potential.

Conveniently situated close to local amenities, residents will enjoy easy access to essential facilities, including supermarkets such as Costcutter (0.95km) and Tesco Express (1.12km), ensuring everyday convenience. Additionally, the property is located in close proximity to esteemed educational institutions, with Saint Kentigerns Catholic Primary School (0.47km) and Blackpool Saint Johns Church of England Primary School (1.01km) within a short distance, making it an ideal location for families.

Furthermore, the property is within easy reach of public transport, with the Stanley Park bus stop (0.13km) nearby, and the Blackpool North railway station (1.35km) just a short commute away, enhancing connectivity and accessibility for residents. For leisure and entertainment, various dining options, including Taste (0.23km) and Our Wee Chippy (0.26km), as well as the Festival Leisure Park (1.27km), provide ample choices for relaxation and enjoyment.

Surrounded by a plethora of amenities, from healthcare facilities such as Blackpool Victoria Hospital (1.25km) to fitness clubs like Blackpool Fight Works (0.95km) and nightlife spots including the Blackpool Magicians Club (0.9km), this property offers an unparalleled lifestyle with everything at your doorstep. Additionally, the property is in close proximity to Stanley Park (0.19km), offering a beautiful green space for outdoor activities and relaxation.

Embrace this exceptional investment opportunity in a dynamic and thriving area, perfect for those seeking to expand their property portfolio or secure a promising return on investment. Enquire now to seize this chance to own a valuable asset in a prime location.

The Ground floor flat is currently tenanted at £450pcm

Once the works are complete to the first floor flat, you should expect to receive around £550pcm.

Giving you a 10% yield (without including the costs of the refurbishment)

Call Unique Thornton To View!

Ground Floor Flat EPC:- C

First Floor Flat EPC:- D

Council Tax:- A

Internal Living Space:- 94sqm

Tenure:- To be confirmed

*To be confirmed by your legal representative*

Agent Details

Unique Estate Agency Ltd, Thornton Cleveleys

01253 835787

Next Steps?

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