4 Bed HMO, Birmingham, B29 6EJ £360,000

Heeley Road, B29 6EJ - 1 views - a year ago
Sold STC
HMO
Refurb/BRRR
~129 m²
Property image

ValuationFair Value

Sold Prices£125K - £900K
Sold Prices/m²£1.7K/m² - £5.4K/m²

 

 

Square Metres

~129.26 m²
Price/m²£2.8K/m²

Value Estimate

£363,600

 

 

End Value (After Refurb)

£427,326

Uplift in Value

+19%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£90,000

Stamp Duty & Legal Fees

£27,200

Refurb Costs

£56,173

Bridging Loan Interest

£9,450

Total Cash In

£184,573

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£427,326

Mortgage (After Refinance)

£320,494

Mortgage LTV

75%

Cash Released

£50,494

Cash Left In

£134,079

Equity

£106,831

Room Rate

£386

Gross Rent

£1,544

Running Costs/mo

£2,169

Cashflow/mo

£-625

Cashflow/yr

£-7,495

Gross Yield

5%

Local Sold Prices

50 sold prices from £125K to £900K, average is £375K. £1.7K/m² to £5.4K/m², average is £3.5K/m².

Price
Date
Distance
Address
Beds
 
£355K06/210.16 mi155, Tiverton Road, Selly Oak, Birmingham, West Midlands B29 6BS4
£520K09/230.2 mi19, Heroes Drive, Birmingham B29 6UQ4
£192.5K01/230.26 mi62, Raddlebarn Road, Selly Oak, Birmingham, West Midlands B29 6HJ4
£178K04/230.26 mi64, Raddlebarn Road, Selly Oak, Birmingham, West Midlands B29 6HJ4
£392.5K05/250.3 mi77, Dawlish Road, Birmingham B29 7AF4
£392.5K05/250.3 mi77, Dawlish Road, Birmingham B29 7AF4
£310K01/230.37 mi27, Rebecca Drive, Birmingham, West Midlands B29 6TP4
£620K04/230.4 mi36, Serpentine Road, Selly Park, Birmingham, West Midlands B29 7HU4
£900K05/220.45 mi93, Selly Park Road, Selly Park, Birmingham, West Midlands B29 7LH4
£725K12/220.51 mi949, Bristol Road, Selly Oak, Birmingham, West Midlands B29 6ND4
£760K08/220.51 mi134, Oakfield Road, Selly Park, Birmingham, West Midlands B29 7ED4
£218K05/250.52 mi12, Tealby Grove, Birmingham B29 7RJ4
£218K05/250.52 mi12, Tealby Grove, Birmingham B29 7RJ4
£750K11/220.54 mi63, Selly Park Road, Selly Park, Birmingham, West Midlands B29 7PH4
£450K05/230.55 mi68, Selly Wick Road, Selly Park, Birmingham, West Midlands B29 7JB4
£428K02/220.61 mi39, Selly Wick Drive, Selly Park, Birmingham, West Midlands B29 7JQ4
£488K03/250.62 mi41, Selly Wick Drive, Birmingham B29 7JQ4
£323K10/210.62 mi138, Lodge Hill Road, Birmingham, West Midlands B29 6NG4
£676K08/230.64 mi340, Bristol Road, Edgbaston, Birmingham B5 7SN4
£676K08/230.64 mi340, Bristol Road, Edgbaston, Birmingham B5 7SN4
£410K10/210.68 mi38, Selly Wick Drive, Selly Park, Birmingham, West Midlands B29 7JH4
£563K06/210.68 mi32, Over Mill Drive, Selly Park, Birmingham, West Midlands B29 7JL4
£250K05/240.68 mi24, Bullace Croft, Birmingham B15 2SS4
£250K05/240.68 mi24, Bullace Croft, Birmingham B15 2SS4
£252K01/230.68 mi11, Ten Acre Mews, Birmingham, West Midlands B30 2BF4
£375K05/250.68 mi72, Gibbins Road, Birmingham B29 6QR4
£375K05/250.68 mi72, Gibbins Road, Birmingham B29 6QR4
£239K01/230.68 mi23, Ten Acre Mews, Birmingham, West Midlands B30 2BF4
£250K05/240.69 mi24, Bullace Croft, Birmingham, West Midlands B15 2SS4
£676K08/230.7 mi340, Bristol Road, Birmingham, West Midlands B5 7SN4
£705K11/220.7 mi322, Bristol Road, Birmingham, West Midlands B5 7SN4
£210K07/250.71 mi58, Ribblesdale Road, Birmingham B30 2YP4
£705K11/220.71 mi322, Bristol Road, Edgbaston, Birmingham B5 7SN4
£625K02/230.73 mi26, Weoley Park Road, Selly Oak, Birmingham, West Midlands B29 6QU4
£283.5K06/210.74 mi7, Lepid Grove, Birmingham, West Midlands B29 6RU4
£345K03/250.75 mi3, Lepid Grove, Birmingham B29 6RU4
£345K03/250.75 mi3, Lepid Grove, Birmingham B29 6RU4
£235K05/210.75 mi39, Saunton Way, Birmingham, West Midlands B29 6QH4
£270K06/210.75 mi51, Saunton Way, Birmingham, West Midlands B29 6QH4
£125K07/210.75 mi26, Wallace Road, Selly Park, Birmingham, West Midlands B29 7ND4
£367.5K02/250.76 mi3, Oxford Street, Stirchley, Birmingham, West Midlands B30 2LE4
£375K11/240.78 mi4, Bideford Drive, Birmingham B29 6QG4
£328K12/240.79 mi71, Woolacombe Lodge Road, Birmingham, West Midlands B29 6QA4
£540K06/210.79 mi24, Weoley Hill, Selly Oak, Birmingham, West Midlands B29 4AD4
£880K06/240.82 mi73, Eastern Road, Edgbaston, Birmingham B29 7JX4
£880K06/240.82 mi73, Eastern Road, Edgbaston, Birmingham B29 7JX4
£745K07/240.82 mi200, Oak Tree Lane, Bournville, Birmingham B30 1UH4
£745K07/240.82 mi200, Oak Tree Lane, Bournville, Birmingham B30 1UH4
£170K09/220.84 mi3, Underwood Close, Edgbaston, Birmingham, West Midlands B15 2SX4
£220K02/250.84 mi81, Cecil Road, Selly Oak, Birmingham B29 7QQ4

Local Area Statistics

Population in B29

42,512

Population in Birmingham

1,034,821

Town centre distance

2.78 miles away

Nearest school

0.20 miles away

Nearest train station

0.13 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

-56%

Sales demand

Seller's market

Capital growth (5yrs)

+30%

Property History

Listed for £360,000

September 26, 2024

Description

  • Investment +
  • HMO +
  • Development potential +
  • 4 bedrooms +

Discover this well-positioned 4-bedroom property, offering a fantastic investment opportunity in a highly sought-after area. Currently rented until 30th June 2025 and achieving an annual rental income of £15,104.57 (excluding bills),

this property presents an excellent chance to maximize returns with the right vision and updates.
The home features four spacious bedrooms, including a generously sized rear bedroom, and a well-appointed bathroom.

The existing layout provides plenty of opportunities for internal renovation and reconfiguration, allowing investors to elevate the property’s appeal and significantly boost rental income.
While right-of-access issues may affect the potential for rear extensions, the property still offers ample scope for creative internal modifications. Rear extensions may still be possible by moving the rear right to access.

The interior could be modernized to enhance living spaces, making it an ideal project for those looking to add value through strategic upgrades.

Situated in a prime location close to local amenities, transport links, and popular rental markets, this property is perfect for investors aiming to tap into high-demand rental markets. The current rental income already demonstrates strong returns, with even greater potential achievable through thoughtful renovations.

Key Features:
4 spacious bedrooms with a well-sized rear bedroom
Currently rented until 30th June 2025, generating an annual income of £18,512.00 excluding bills

Significant potential to renovate and reconfigure internally and externally, maximising rental income and value
Perfectly situated near local amenities, transport links, and key rental markets

This property is a fantastic project for investors eager to make the most of a high-potential investment in a prime location. Seize the opportunity to transform this house into a standout rental with increased returns!

Agent Details

PURPLE FROG ASSET MANAGEMENT LIMITED, Birmingham

0121 647 8922

Next Steps?

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