4 Bed HMO, Birmingham, B29 7AZ, £340,000

32 Teignmouth Road, Birmingham, West Midlands, B29 7AZ - 4 views - 6 months ago

Under Offer
HMO
Refurb/BRRR
72 m²
+4 photos

ValuationOvervalued

Sold Prices£125K - £900K
Sold Prices/m²£1.7K/m² - £6.3K/m²

 

 

Square Metres

72 m²
Price/m²£4.7K/m²

Value Estimate

£249,305

 

 

End Value (After Refurb)

£240,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£85,000

Stamp Duty & Legal Fees

£15,900

Refurb Costs

£28,518

Bridging Loan Interest

£8,925

Total Cash In

£140,093

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£240,000

Mortgage (After Refinance)

£180,000

Mortgage LTV

75%

Cash Left In

£140,093

Equity

£60,000

Room Rate

£386

Gross Rent

£1,544

Running Costs/mo

£1,525

Cashflow/mo

£19

Cashflow/yr

£232

ROI

0%

Gross Yield

5%

Local Sold Prices

50 sold prices from £125K to £900K, average is £386K. £1.7K/m² to £6.3K/m², average is £3.4K/m².

PriceDateDistanceAddressBeds 
£355K06/210.17 mi155, Tiverton Road, Selly Oak, Birmingham, West Midlands B29 6BS4
£355K06/210.17 mi155, Tiverton Road, Selly Oak, Birmingham, West Midlands B29 6BS4
£355K06/210.17 mi155, Tiverton Road, Selly Oak, Birmingham, West Midlands B29 6BS4
£620K04/230.23 mi36, Serpentine Road, Selly Park, Birmingham, West Midlands B29 7HU4
£900K05/220.26 mi93, Selly Park Road, Selly Park, Birmingham, West Midlands B29 7LH4
£192.5K01/230.33 mi62, Raddlebarn Road, Selly Oak, Birmingham, West Midlands B29 6HJ4
£178K04/230.33 mi64, Raddlebarn Road, Selly Oak, Birmingham, West Midlands B29 6HJ4
£760K08/220.35 mi134, Oakfield Road, Selly Park, Birmingham, West Midlands B29 7ED4
£450K05/230.35 mi68, Selly Wick Road, Selly Park, Birmingham, West Midlands B29 7JB4
£750K11/220.41 mi63, Selly Park Road, Selly Park, Birmingham, West Midlands B29 7PH4
£410K02/210.42 mi59, Selly Wick Drive, Selly Park, Birmingham, West Midlands B29 7JQ4
£428K02/220.42 mi39, Selly Wick Drive, Selly Park, Birmingham, West Midlands B29 7JQ4
£410K10/210.48 mi38, Selly Wick Drive, Selly Park, Birmingham, West Midlands B29 7JH4
£563K06/210.48 mi32, Over Mill Drive, Selly Park, Birmingham, West Midlands B29 7JL4
£580K12/200.51 mi841, Pershore Road, Selly Park, Birmingham, West Midlands B29 7LR4
£676K08/230.53 mi340, Bristol Road, Birmingham, West Midlands B5 7SN4
£705K11/220.55 mi322, Bristol Road, Birmingham, West Midlands B5 7SN4
£310K01/230.55 mi27, Rebecca Drive, Birmingham, West Midlands B29 6TP4
£159.3K11/200.57 mi32, St Stephens Road, Selly Oak, Birmingham, West Midlands B29 7RP4
£125K07/210.57 mi26, Wallace Road, Selly Park, Birmingham, West Midlands B29 7ND4
£210K02/210.61 mi20, Ten Acre Mews, Birmingham, West Midlands B30 2BF4
£252K01/230.61 mi11, Ten Acre Mews, Birmingham, West Midlands B30 2BF4
£239K01/230.61 mi23, Ten Acre Mews, Birmingham, West Midlands B30 2BF4
£180K11/210.62 mi17, Windrush Grove, Birmingham, West Midlands B29 7SU4
£355K12/200.63 mi95, Langleys Road, Selly Oak, Birmingham, West Midlands B29 6HR4
£274K02/210.7 mi177, Harborne Lane, Selly Oak, Birmingham, West Midlands B29 6SS4
£274K02/210.7 mi177, Harborne Lane, Selly Oak, Birmingham, West Midlands B29 6SS4
£274K02/210.7 mi177, Harborne Lane, Selly Oak, Birmingham, West Midlands B29 6SS4
£725K12/220.71 mi949, Bristol Road, Selly Oak, Birmingham, West Midlands B29 6ND4
£389K10/200.71 mi110, Langleys Road, Selly Oak, Birmingham, West Midlands B29 6HT4
£470K04/210.73 mi950, Bristol Road, Selly Oak, Birmingham, West Midlands B29 6NB4
£323K10/210.81 mi138, Lodge Hill Road, Birmingham, West Midlands B29 6NG4
£350K12/200.84 mi72, Kingfisher Way, Birmingham, West Midlands B30 1TG4
£260K09/210.84 mi17, Regent Street, Stirchley, Birmingham, West Midlands B30 2LG4
£215K02/210.84 mi6, Ripple Road, Birmingham, West Midlands B30 2RB4
£385K06/210.86 mi36, Sir Johns Road, Selly Park, Birmingham, West Midlands B29 7ER4
£405.5K06/210.86 mi64, Sir Johns Road, Selly Park, Birmingham, West Midlands B29 7ER4
£402K12/220.87 mi62, Sir Johns Road, Selly Park, Birmingham, West Midlands B29 7ER4
£590K06/210.87 mi36, Elizabeth Road, Moseley, Birmingham, West Midlands B13 8QJ4
£498K01/210.87 mi68, Elizabeth Road, Moseley, Birmingham, West Midlands B13 8QJ4
£575K02/210.87 mi28, Elizabeth Road, Moseley, Birmingham, West Midlands B13 8QJ4
£562K06/210.87 mi40, Elizabeth Road, Moseley, Birmingham, West Midlands B13 8QJ4
£630K09/200.9 mi58, Elizabeth Road, Moseley, Birmingham, West Midlands B13 8QJ4
£355K01/210.9 mi62, Bournville Lane, Birmingham, West Midlands B30 2LJ4
£740K04/230.9 mi21, Elizabeth Road, Moseley, Birmingham, West Midlands B13 8QH4
£405K10/220.9 mi50, Sir Johns Road, Selly Park, Birmingham, West Midlands B29 7ER4
£170K09/220.9 mi3, Underwood Close, Edgbaston, Birmingham, West Midlands B15 2SX4
£283.5K06/210.91 mi7, Lepid Grove, Birmingham, West Midlands B29 6RU4
£270K02/210.91 mi57, Bournville Lane, Birmingham, West Midlands B30 2LP4
£387K02/230.91 mi23, Holders Gardens, Birmingham, West Midlands B13 8NW4

Local Area Statistics

Population in B29

42,512

Population in Birmingham

1,034,821

Town centre distance

2.58 miles away

Nearest school

0.20 miles away

Nearest train station

0.29 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

-16%

Sales demand

Seller's market

Capital growth (5yrs)

+27%

Property History

Listed for £340,000

September 26, 2024

Sold for £85,500

2002

Description

  • HMO +
  • Prime Location +
  • Student triangle +
  • 4 bedrooms +

This spacious 4-bedroom property is perfectly situated in the highly sought-after area of Selly Oak, offering an ideal opportunity for investors looking to capitalise on a prime location. Currently rented until June 2025, the property generates a solid annual rental income of £18,512  (excluding bills), with potential to increase returns through refurbishment or rental adjustments.

The house offers a versatile layout with generous living spaces, making it a perfect blank canvas for those looking to renovate and add value.

The property boasts four well-proportioned bedrooms, a comfortable living area, a fully fitted kitchen, and a bathroom as well as a spaciour rear garden. 

While the property does have right-of-access issues to the rear, limiting the potential for rear extensions, it still presents plenty of opportunities for modernisation and internal reconfiguration. These constraints make it a unique and exciting project for investors looking to work within the existing footprint while enhancing the overall appeal and rental income potential of the house.

Located within easy reach of local amenities, transport links, and the University of Birmingham, this property appeals strongly to students and professionals alike, ensuring a steady stream of tenants. With the right updates, this home has the potential to elevate its rental yield significantly, further enhancing its appeal as a long-term investment.

Key Features:
Prime Selly Oak location with strong rental demand
4 spacious bedrooms and well-arranged living areas
Currently rented until June 2025 with an annual rental income of £15,206 excluding bills
Right-of-access issues to the rear may limit extension potential but allow for creative internal updates
Ideal project for investors seeking to maximise value and rental returns

Agent Details

PURPLE FROG ASSET MANAGEMENT LIMITED, Birmingham

020 3514 1592

Next Steps?

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