2 Bed Flat, Cash/Bridging Only, Wolverhampton, WV3 8JW, £110,000

12 TILBURY CLOSE, WOLVERHAMPTON, WV3 8JW - 5 views - 8 months ago

Sold STC
Leasehold
Cash
ROI: 12%
57 m²
+4 photos

ValuationUndervalued

Sold Prices£85K - £320K
Sold Prices/m²£1.2K/m² - £2.8K/m²

 

 

Square Metres

57 m²
Price/m²£1.9K/m²

Value Estimate

£113,300
BMV3%

 

 

End Value (After Refurb)

£140,022

Uplift in Value

+27%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£27,500

Stamp Duty & Legal Fees

£4,500

Refurb Costs

£22,555

Bridging Loan Interest

£2,888

Total Cash In

£59,192

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£140,022

Mortgage (After Refinance)

£105,016

Mortgage LTV

75%

Cash Released

£22,516

Cash Left In

£36,676

Equity

£35,005

Rent Range

£675 - £4,500

Rent Estimate

£1,303

Running Costs/mo

£718

Cashflow/mo

£585

Cashflow/yr

£7,018

ROI

12%

Gross Yield

14%

Local Sold Prices

40 sold prices from £85K to £320K, average is £152.5K. £1.2K/m² to £2.8K/m², average is £2.1K/m².

PriceDateDistanceAddressBeds 
£159.9K09/210.17 miApartment 15, Castlecroft House, Castlecroft Road, Wolverhampton, Staffordshire WV3 8NA2
£155K06/210.17 miApartment 11, Castlecroft House, Castlecroft Road, Wolverhampton, Staffordshire WV3 8NA2
£168K07/220.17 miApartment 21, Castlecroft House, Castlecroft Road, Wolverhampton, Staffordshire WV3 8NA2
£165K08/230.17 miApartment 12, Castlecroft House, Castlecroft Road, Wolverhampton, Staffordshire WV3 8NA2
£90K02/210.46 mi4c, Studley Road, Finchfield, Wolverhampton, West Midlands WV3 9BB2
£100K07/210.51 mi114, Limehurst Avenue, Finchfield, Wolverhampton, West Midlands WV3 9BE2
£85K10/230.51 mi48, Limehurst Avenue, Wolverhampton, West Midlands WV3 9BE2
£85K01/210.51 mi118, Limehurst Avenue, Wolverhampton, West Midlands WV3 9BE2
£85K01/210.52 mi118, Limehurst Avenue, Wolverhampton, West Midlands WV3 9BE2
£320K05/230.54 miApartment 5, Elmsdale Hall, Wightwick Grove, Wolverhampton, West Midlands WV6 8TA2
£180K02/210.61 mi20, Wightwick Court, Wolverhampton, West Midlands WV6 8HF2
£160K04/230.61 mi4, Wightwick Court, Wolverhampton, West Midlands WV6 8HF2
£93K03/230.65 mi32, White Oak Drive, Wolverhampton, West Midlands WV3 9AW2
£123.1K12/220.7 mi141, Bridgnorth Road, Wolverhampton, West Midlands WV6 8AF2
£100K10/210.74 mi53, Bridgnorth Road, Wolverhampton, West Midlands WV6 8AF2
£119K03/230.74 mi127, Bridgnorth Road, Wolverhampton, West Midlands WV6 8AF2
£96K05/210.77 mi65, Langley Road, Wolverhampton, West Midlands WV4 4YU2
£182K05/240.81 mi11, Cygnet Close, Wolverhampton, West Midlands WV6 8XR2
£130K08/220.82 mi6, Lea Bank, Wolverhampton, West Midlands WV3 9HN2
£130K10/230.84 mi18, Lea Bank, Wolverhampton, West Midlands WV3 9HN2
£115K11/200.84 mi1, Lea Bank, Wolverhampton, West Midlands WV3 9HN2
£138K02/240.85 miRichmere Court, Flat 3, Mount Road, Tettenhall Wood, Wolverhampton, West Midlands WV6 8HU2
£143K11/220.85 mi17, Lea Bank, Wolverhampton, West Midlands WV3 9HN2
£179.9K05/210.86 miFlat 45, Milestone Court, Lime Tree Avenue, Tettenhall Wood, Wolverhampton, West Midlands WV6 8HB2
£189K06/210.86 miFlat 53, Milestone Court, Lime Tree Avenue, Tettenhall Wood, Wolverhampton, West Midlands WV6 8HB2
£192K02/230.86 miFlat 53, Milestone Court, Lime Tree Avenue, Tettenhall Wood, Wolverhampton, West Midlands WV6 8HB2
£170K06/210.86 miFlat 21, Grosvenor Court, Lime Tree Avenue, Tettenhall Wood, Wolverhampton, West Midlands WV6 8HB2
£185K04/230.86 miFlat 17, Grosvenor Court, Lime Tree Avenue, Tettenhall Wood, Wolverhampton, West Midlands WV6 8HB2
£139.9K07/230.91 mi9, Spruce Way, Wolverhampton, West Midlands WV3 9EZ2
£150K08/220.91 mi4, Spruce Way, Wolverhampton, West Midlands WV3 9EZ2
£179.9K12/200.93 mi8, Weller Court, Wolverhampton, West Midlands WV3 9EF2
£175K04/210.93 mi11, Weller Court, Wolverhampton, West Midlands WV3 9EF2
£178K08/230.93 mi7, Weller Court, Wolverhampton, West Midlands WV3 9EF2
£179.9K12/200.93 mi8, Weller Court, Wolverhampton, West Midlands WV3 9EF2
£175K04/210.93 mi11, Weller Court, Wolverhampton, West Midlands WV3 9EF2
£160K02/230.93 mi11, Weller Court, Wolverhampton, West Midlands WV3 9EF2
£157.5K11/220.93 mi53, High Meadows, Wolverhampton, West Midlands WV6 8PP2
£140K11/220.93 mi48, High Meadows, Wolverhampton, West Midlands WV6 8PP2
£106K10/230.98 mi48, Warstones Gardens, Wolverhampton, West Midlands WV4 4PD2
£98K04/230.98 mi26, Warstones Gardens, Wolverhampton, West Midlands WV4 4PD2

Local Rents

50 rents from £675/mo to £4.5K/mo, average is £1.2K/mo.

RentDateDistanceAddressBeds 
£1,29011/240.11 miWindmill Lane, Castlecroft4
£95012/240.16 mi-3
£69911/240.21 miWindmill Crescent, Castlecroft, Wolverhampton1
£1,09511/240.23 mi-2
£99511/240.23 mi-2
£1,19511/240.23 miPoolhall Road, Wolverhampton, WV32
£1,35012/240.38 mi-3
£1,35004/250.38 mi-3
£1,19502/240.57 mi-3
£1,30002/250.59 mi-3
£1,30011/240.59 mi-3
£1,10012/240.6 mi-1
£99512/240.6 mi-1
£2,65012/240.62 miApsley House, Quail Green, Wightwick5
£3,99512/240.62 miThe New House, Tinacre Hill, Wightwick6
£1,35012/240.65 miCherrington Gardens, Wolverhampton, WV63
£3,99512/240.66 miTinacre Hill, Wightwick, Wolverhampton6
£1,39512/240.67 miWightwick Court, Wolverhampton, West Midlands, WV62
£1,00011/240.73 miBroadway, Finchfield, Wolverhampton, West Midlands, WV33
£1,15012/240.74 mi-3
£1,15012/240.74 miTyrley Close, Compton3
£1,20012/240.75 mi-3
£1,20002/250.75 mi-3
£1,20004/250.75 mi-3
£2,75012/240.77 miPerton Road, Wightwick, Wolverhampton4
£67512/240.85 mi-1
£89512/240.86 mi3 Richmere Court, Mount Road, Tettenhall Wood2
£85012/240.93 miHigh Meadows, Compton, Wolverhampton, West Midlands, WV62
£1,65012/240.98 miSutton Farm Barns, Claverley3
£1,30011/241.02 miGlade Gardens, Warstones, Wolverhampton3
£1,20012/241.02 mi-3
£1,20012/241.02 miWoodland Avenue, Wolverhampton, WV63
£1,20011/241.02 mi25 Market Lane, Lower Penn3
£1,30011/241.04 mi-3
£1,45002/251.04 mi-3
£79511/241.04 miFinchfield Road West, Finchfield, Wolverhampton2
£69512/241.09 miGrasmere Avenue, Perton, Wolverhampton, WV61
£2,10003/251.1 mi-4
£95012/241.12 miKinfare Drive, Wolverhampton, West Midlands, WV62
£4,50012/241.12 miFoley Avenue, Tettenhall4
£1,20011/241.16 mi-3
£1,20012/241.19 mi-3
£82511/241.21 miYork Avenue, Finchfield2
£75012/241.24 miCanterbury Drive, Wolverhampton1
£97511/241.25 mi1 Bamber Close, Bradmore, Wolverhampton3
£87512/241.27 miCheshire Grove, Perton, Wolverhampton, Staffordshire, WV62
£85012/241.29 miCanterbury Drive, Wolverhampton, WV62
£69512/241.29 miCunningham Road, Perton, Wolverhampton, Staffordshire, WV61
£80003/251.29 mi-2
£89902/251.31 mi-2

Local Area Statistics

Population in WV3

29,663

Population in Wolverhampton

260,353

Town centre distance

1.27 miles away

Nearest school

0.30 miles away

Nearest train station

2.77 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+14%

Sales demand

Seller's market

Capital growth (5yrs)

+27%

Property History

Listed for £110,000

August 23, 2024

Floor Plans

Description

  • CASH OFFERS ONLY with No Onward Chain +
  • Two Double Bedrooms +
  • Driveway To Front +
  • Garden To Rear +
  • Spacious Living Accommodation +
  • Secure Intercom Entry System +

CASH OFFERS ONLY - Traditional two bedroom ground floor apartment available with No Onward Chain situated in the sought after residential area of Castlecroft. Close to a comprehensive range of amenities, the property offers well proportioned accommodation comprising entrance hall, living room, kitchen, two double bedrooms and shower room. To the front there is a driveway providing off road parking, whilst to the rear is a private garden with two useful 2 storage rooms.

Approach - The property is approached via a secure communal entrance with intercom system. There is a driveway providing off road parking for several vehicles.

Entrance Hall - Double glazed window, radiator, storage cupboard, intercom receiver and doors to:

Living Room - Two double glazed windows, wall mounted gas fire, radiator and intercom receiver.

Kitchen - Double glazed window, part tiled walls, radiator and a range of fitted wall, drawer and base units with roll edge work surfaces over incorporating a stainless steel sink and drainer unit. There is space for various household appliances including cooker, fridge and plumbing for a washing machine. A door provides access to a useful pantry and a part glazed door provides access to the rear garden.

Bedroom One - Two double glazed windows and radiator.

Bedroom Two - Two double glazed windows and radiator.

Wet Room - Double glazed obscure window, tiled walls, radiator and suite comprising low level w.c, wash hand basin and shower.

Rear Garden - To the rear of the property is a private rear garden with a paved patio area and lawn beyond. There are two useful store rooms and a side gate provides access to the front.

Council Tax - Wolverhampton City Council - Tax Band A

Parking - A driveway to the front provides off road parking.

Services - The agent understands that mains gas, electricity, water and drainage are available.

Tenure Leasehold - The property is leasehold with a current lease term of 125 years from 17th July 2017. The most recent annual service charge was approximately £568.00 and ground rent £10.00.

Agent Details

Sanders, Wright & Freeman, Wolverhampton

01902 943761

Next Steps?

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