5 Bed HMO, Birmingham, B29 7DE, £365,000

20 Coronation Road, Birmingham, West Midlands, B29 7DE - 14 views - 8 months ago

Sold STC

HMO

Refurb/BRRR

ROI: 4%

~82 m²

+10 photos

ValuationOvervalued

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

Square Metres	~82 m²
Price/m²	£4.5K/m²
Value Estimate	£255,299£255,299

End Value (After Refurb)	£361,250£361,250

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£91,250£91,250
Stamp Duty & Legal Fees	£17,900£17,900
Refurb Costs	£32,478£32,478
Bridging Loan Interest	£9,581£9,581
Total Cash In	£152,960£152,960

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£361,250£361,250
Mortgage (After Refinance)	£270,938£270,938
Mortgage LTV	75%75%
Cash Left In	£152,960£152,960
Equity	£90,313£90,313
Room Rate	£572£572
Gross Rent	£2,860£2,860
Running Costs/mo	£2,316£2,316
Cashflow/mo	£544£544
Cashflow/yr	£6,528£6,528
ROI	4%4%
Gross Yield	9%9%

Local Sold Prices

22 sold prices from £200K to £900K, average is £563K. £1.8K/m² to £4.2K/m², average is £3K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£685K	10/22	0.18 mi	42, Serpentine Road, Selly Park, Birmingham, West Midlands B29 7HU	-	-	5	Detached House
£400K	06/21	0.23 mi	216, Hubert Road, Selly Oak, Birmingham, West Midlands B29 6EP	£3,279	122	5	Terraced House
£425K	02/21	0.24 mi	26, Bournbrook Road, Birmingham, West Midlands B29 7BJ	£3,134	136	5	Terraced House
£260K	07/21	0.28 mi	278, Hubert Road, Selly Oak, Birmingham, West Midlands B29 6EP	£3,333	78	5	Terraced House
£730K	02/23	0.29 mi	142, Selly Park Road, Selly Park, Birmingham, West Midlands B29 7LH	-	-	5	Detached House
£200K	02/21	0.4 mi	6, Lottie Road, Selly Oak, Birmingham, West Midlands B29 6JZ	£2,564	78	5	Terraced House
£795.5K	05/23	0.41 mi	41a, Upland Road, Selly Park, Birmingham, West Midlands B29 7JS	-	-	5	Detached House
£710K	03/22	0.42 mi	344, Bristol Road, Birmingham, West Midlands B5 7SN	£3,777	188	5	Detached House
£620K	06/21	0.48 mi	49, Selly Park Road, Selly Park, Birmingham, West Midlands B29 7PH	-	-	5	Semi-Detached House
£630K	03/22	0.48 mi	336, Bristol Road, Birmingham, West Midlands B5 7SN	-	-	5	Detached House
£725K	03/21	0.5 mi	31, Selly Wick Road, Selly Park, Birmingham, West Midlands B29 7JJ	-	-	5	Detached House
£900K	08/22	0.5 mi	15, Selly Wick Road, Selly Park, Birmingham, West Midlands B29 7JJ	-	-	5	Detached House
£725K	03/21	0.5 mi	31, Selly Wick Road, Selly Park, Birmingham, West Midlands B29 7JJ	-	-	5	Detached House
£280K	06/21	0.6 mi	960, Pershore Road, Selly Park, Birmingham, West Midlands B29 7PU	£1,818	154	5	Terraced House
£383.3K	01/23	0.65 mi	6, Brookvale Mews, Selly Park, Birmingham, West Midlands B29 7HP	£2,590	148	5	Terraced House
£228K	02/23	0.66 mi	28, Rachel Gardens, Birmingham, West Midlands B29 6NY	£2,714	84	5	Terraced House
£294K	05/21	0.8 mi	146, Lodge Hill Road, Birmingham, West Midlands B29 6NG	£2,882	102	5	Semi-Detached House
£302K	11/20	0.8 mi	142, Lodge Hill Road, Birmingham, West Midlands B29 6NG	£3,113	97	5	Terraced House
£685K	11/20	0.83 mi	57, Linden Road, Bournville, Birmingham, West Midlands B30 1JT	£4,228	162	5	Semi-Detached House
£556K	10/21	0.89 mi	267, Moor Green Lane, Birmingham, West Midlands B13 8QR	-	-	5	Detached House
£246.5K	03/21	0.94 mi	9, Bideford Drive, Selly Oak, Birmingham, West Midlands B29 6QG	£2,465	100	5	Terraced House
£570K	08/23	0.96 mi	51, Weoley Park Road, Selly Oak, Birmingham, West Midlands B29 6QZ	-	-	5	Semi-Detached House

Local Area Statistics

Population in B29	42,51242,512
Population in Birmingham	1,034,8211,034,821
Town centre distance	2.56 miles away2.56 miles away
Nearest school	0.20 miles away0.20 miles away
Nearest train station	0.28 miles away0.28 miles away

Rental demand	Tenant's marketTenant's market
Rental growth (12m)	-16%-16%
Sales demand	Seller's marketSeller's market
Capital growth (5yrs)	+27%+27%

Property History

Listed for £365,000

August 23, 2024

Sold for £92,000

2002

Floor Plans

Description

Prime Selly Oak Location +
Potential To Develop +

*Five-Bedroom Student HMO in Prime Selly Oak Location – Ideal Investment Opportunity*

Presenting an excellent investment opportunity, this five-bedroom student HMO property is perfectly situated in the heart of Selly Oak, close to the University of Birmingham and Queen Elizabeth Hospital. With potential for renovation, this property offers the chance to increase rental returns and maximize its investment potential.

Given the prime location and student demand in Selly Oak, there is excellent potential to achieve high rental returns, especially with renovation and upgrades.

Tenants will benefit from easy access to local amenities, including shops, cafes, restaurants, and excellent public transport links, making this a highly attractive location for students.

Don’t miss the chance to capitalize on this prime student rental market—contact us today to arrange a viewing.

Agent Details

Oakmans Estate Agents, Birmingham

0121 387 6513

Next Steps?

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

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