2 Bed Flat, Cash/Bridging Only, Wigan, WN2 5LS, £73,000

Gas Street, Platt Bridge, Wigan, WN2 5LS - 7 months ago

Leasehold
Cash
ROI: 5%
~55 m²
+5 photos

ValuationFair Value

Sold Prices£53K - £175K
Sold Prices/m²£822/m² - £2.3K/m²

 

 

Square Metres

~55.37 m²
Price/m²£1.3K/m²

Value Estimate

£74,460

 

 

End Value (After Refurb)

£82,326

Uplift in Value

+13%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£18,250

Stamp Duty & Legal Fees

£4,850

Refurb Costs

£23,436

Bridging Loan Interest

£1,916

Total Cash In

£50,202

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£82,326

Mortgage (After Refinance)

£61,745

Mortgage LTV

75%

Cash Released

£6,995

Cash Left In

£43,207

Equity

£20,582

Rent Range

£625 - £850

Rent Estimate

£600

Running Costs/mo

£397

Cashflow/mo

£203

Cashflow/yr

£2,433

ROI

5%

Gross Yield

10%

Local Sold Prices

50 sold prices from £53K to £175K, average is £83.5K. £822/m² to £2.3K/m², average is £1.5K/m².

PriceDateDistanceAddressBeds 
£67K09/220 mi19, Gas Street, Platt Bridge, Wigan, Greater Manchester WN2 5LS2
£53K12/200 mi7, Gas Street, Platt Bridge, Wigan, Greater Manchester WN2 5LS2
£89.3K07/220.02 mi27, Gas Street, Platt Bridge, Wigan, Greater Manchester WN2 5LS2
£102K09/220.97 mi20, Addington Close, Hindley, Wigan, Greater Manchester WN2 3NU2
£95K09/230.97 mi14, Addington Close, Hindley, Wigan, Greater Manchester WN2 3NU2
£75K02/221.06 mi18, The Mews, Hindley, Wigan, Greater Manchester WN2 3EZ2
£88K01/231.1 mi228, Lily Lane, Bamfurlong, Wigan, Greater Manchester WN2 5JT2
£65K10/211.2 mi129, Market Street, Hindley, Wigan, Greater Manchester WN2 3AA2
£77K12/201.26 mi4, Merefield Close, Hindley, Wigan, Greater Manchester WN2 3PT2
£96K12/231.26 mi4, Merefield Close, Hindley, Wigan, Greater Manchester WN2 3PT2
£63K09/231.51 mi28, Rivington Drive, Bickershaw, Wigan, Greater Manchester WN2 4AL2
£115K10/221.72 miApartment 3, The Parsonage, Hoade Street, Hindley, Wigan, Greater Manchester WN2 2PY2
£60K12/212.06 mi165a, Poolstock Lane, Wigan, Greater Manchester WN3 5HW2
£100K06/222.09 mi4, Slackey Fold, Hindley Green, Wigan, Greater Manchester WN2 4XT2
£64K11/222.1 miApartment 57, Wharfside, Heritage Way, Wigan, Greater Manchester WN3 4AT2
£74.8K07/222.1 miApartment 94, Wharfside, Heritage Way, Wigan, Greater Manchester WN3 4AT2
£65K07/222.1 miApartment 49, Wharfside, Heritage Way, Wigan, Greater Manchester WN3 4AT2
£73K04/222.11 mi4, Rednal Walk, Wigan, Greater Manchester WN3 5HF2
£85K02/222.11 mi17, Meadow Field, Hindley Green, Wigan, Greater Manchester WN2 4GQ2
£65K05/232.11 mi2, Rednal Walk, Wigan, Greater Manchester WN3 5HF2
£75K08/222.12 mi27, Meadow Field, Hindley Green, Wigan, Greater Manchester WN2 4GQ2
£93K04/232.14 mi16, Longacre, Hindley Green, Wigan, Greater Manchester WN2 4LL2
£80K06/232.14 mi36, Longacre, Hindley Green, Wigan, Greater Manchester WN2 4LL2
£105K07/212.14 mi40, East Street, Ashton In Makerfield, Wigan, Greater Manchester WN4 8ST2
£105K09/222.16 mi6, Heathlea Gardens, Hindley Green, Wigan, Greater Manchester WN2 4UE2
£69K12/232.16 mi356, Leigh Road, Hindley Green, Wigan, Greater Manchester WN2 4XL2
£84K07/232.21 miApartment 20, Millside, Heritage Way, Wigan, Greater Manchester WN3 4BE2
£125K09/222.21 miApartment 17, Trencherfield Mill, Heritage Way, Wigan, Greater Manchester WN3 4DU2
£122.5K10/212.22 miApartment 46, Trencherfield Mill, Heritage Way, Wigan, Greater Manchester WN3 4DU2
£115K08/232.22 miApartment 28, Trencherfield Mill, Heritage Way, Wigan, Greater Manchester WN3 4DU2
£120K12/202.22 miApartment 43, Trencherfield Mill, Heritage Way, Wigan, Greater Manchester WN3 4DU2
£104.5K09/222.29 mi9, Greenall Street, Ashton In Makerfield, Wigan, Greater Manchester WN4 8BZ2
£107K11/222.29 mi1, Greenall Street, Ashton In Makerfield, Wigan, Greater Manchester WN4 8BZ2
£80K03/212.29 mi7, Greenall Street, Ashton In Makerfield, Wigan, Greater Manchester WN4 8BZ2
£90K07/212.29 mi9, Greenall Street, Ashton In Makerfield, Wigan, Greater Manchester WN4 8BZ2
£83K12/212.4 mi14, George Street, Ashton In Makerfield, Wigan, Greater Manchester WN4 8QD2
£142K04/232.54 mi318, Warrington Road, Wigan, Greater Manchester WN3 6PF2
£175K06/212.59 mi15, Corner Lane, Leigh, Greater Manchester WN7 5PY2
£55K06/212.59 mi9, Newton Close, Wigan, Greater Manchester WN1 2LH2
£98K11/222.66 mi88, Appleton Grove, Wigan, Greater Manchester WN3 6NY2
£93K05/222.66 mi40, Appleton Grove, Wigan, Greater Manchester WN3 6NY2
£82K05/212.69 mi32, Appleton Grove, Wigan, Greater Manchester WN3 6NY2
£82K05/212.69 mi32, Appleton Grove, Wigan, Greater Manchester WN3 6NY2
£82K04/212.69 mi36, Appleton Grove, Wigan, Greater Manchester WN3 6NY2
£90K11/222.69 mi18, Appleton Grove, Wigan, Greater Manchester WN3 6NY2
£82.5K11/212.7 mi16, Appleton Grove, Wigan, Greater Manchester WN3 6NY2
£79K06/222.73 miC1, Monument Mansions, Wigan, Greater Manchester WN1 2LE2
£54K03/212.74 mi15, Regent Avenue, Ashton In Makerfield, Wigan, Greater Manchester WN4 0AX2
£54K03/212.76 mi15, Regent Avenue, Ashton In Makerfield, Wigan, Greater Manchester WN4 0AX2
£105K08/232.76 mi7a, Park Road, Wigan, Greater Manchester WN1 1RY2

Local Rents

22 rents from £625/mo to £850/mo, average is £750/mo.

RentDateDistanceAddressBeds 
£65004/250.03 mi-2
£62501/240.04 mi-2
£74904/250.11 mi-2
£75001/240.13 mi-2
£85001/250.13 mi-2
£85003/250.14 mi-2
£72010/240.14 mi-2
£74904/250.16 mi-2
£75001/240.22 mi-2
£80003/250.22 mi-2
£79512/240.25 mi-2
£80010/240.27 mi-2
£75004/250.28 mi-2
£80001/250.28 mi-2
£69512/240.33 mi-2
£70011/240.33 miCrystal Close, Platt Bridge, WN22
£75002/240.34 mi-2
£75003/250.34 mi-2
£80001/250.35 mi-2
£69512/240.36 mi-2
£69504/250.37 mi-2
£79911/240.58 miWarrington Road, Wigan WN2 5QY2

Local Area Statistics

Population in WN2

52,661

Population in Wigan

214,929

Town centre distance

2.28 miles away

Nearest school

0.10 miles away

Nearest train station

1.45 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+5%

Sales demand

Seller's market

Capital growth (5yrs)

+50%

Property History

Price changed to £73,000

January 15, 2025

Listed for £70,000

September 13, 2024

Floor Plans

Description

  • Exquisitely designed 2-bedroom flat +
  • Ideal for Buy to Let investors +
  • Open-plan living and kitchen +
  • Welcoming reception room +
  • Fully equipped contemporary kitchen +
  • Generously-sized bedrooms +
  • Well-appointed bathroom +
  • Prime location +
  • Excellent public transport links +
  • Proximity to local amenities +

* CASH BUYERS ONLY - TENANT INSITU *
Attention buy to let investors, this second floor apartment is being offered for sale with no onward chain with a tenant in situ, the tenancy started in September 2024, the annual rental income is £7,200 offering a potential gross rental yield of 10.2%.

Presenting this exquisitely designed 2-bedroom flat, currently listed for sale and ideally suited for Buy to Let Investors. This property boasts an open-plan layout, offering a seamless integration of living and entertaining space.

Upon entering the flat, you will find a welcoming reception room, a perfect spot for relaxing evenings or hosting guests. The reception room seamlessly flows into a contemporary kitchen, which is fully equipped to meet all your culinary needs. The open-plan design ensures a sense of spaciousness and ease of movement throughout the property.

The flat comprises two generously-sized bedrooms, providing ample space for relaxation, work, or storage. Complementing the bedrooms is a well-appointed bathroom, offering practicality and comfort in equal measure.

One of the key features of this property is its prime location. It benefits from excellent public transport links, making commuting and travel a breeze. Furthermore, the flat is in proximity to local amenities, ensuring that daily conveniences like shopping, dining, and entertainment are just a short walk away. For those who like to stay active or enjoy the outdoors, the presence of nearby parks is a significant advantage.

In summary, this 2-bedroom flat offers an unmatched blend of comfort, convenience, and investment potential. Its open-plan design, strategic location, and suitability for Buy to Let investors make it a highly desirable property in today's market. Schedule a visit today to fully appreciate the unique features and potential of this remarkable property.
Council Tax Band: A
Tenure: Leasehold

Agent Details

Leaders Sales, Warrington

01925 361642

Next Steps?

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