2 Bed Flat, Cash/Bridging Only, Wishaw, ML2 9DT, £58,000

3 Fiddoch Court, Newmains, Wishaw, ML2 9DT - 7 months ago

Auction
Cash
ROI: 9%
~68 m²
+9 photos

ValuationOvervalued

Sold Prices£38.5K - £114.2K

 

 

Square Metres

~68.11 m²

Value Estimate

£48,200

 

 

End Value (After Refurb)

£51,625

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£14,500

Stamp Duty & Legal Fees

£4,100

Refurb Costs

£26,400

Bridging Loan Interest

£1,523

Total Cash In

£48,273

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£51,625

Mortgage (After Refinance)

£38,719

Mortgage LTV

75%

Cash Left In

£48,273

Equity

£12,906

Rent Range

£475 - £895

Rent Estimate

£675

Running Costs/mo

£316

Cashflow/mo

£359

Cashflow/yr

£4,304

ROI

9%

Gross Yield

14%

Local Sold Prices

37 sold prices from £38.5K to £114.2K, average is £73K.

PriceDateDistanceAddressBeds 
£69.5K05/210.04 mi20, Kildonan Court, Newmains, Wishaw, Lanarkshire ML2 9DL2
£38.5K03/210.05 mi14, Kildonan Court, Newmains, Wishaw, Lanarkshire ML2 9DL2
£73K06/210.25 mi2, Darragh Green, Newmains, Wishaw, Lan ML2 9BU2
£60K11/210.34 mi1, King Street, Newmains, Wishaw, Lanarkshire ML2 9EH2
£71K08/240.34 mi22, King Street, Newmains, Wishaw, Lan ML2 9EH2
£79K04/210.64 mi19, Westwood Road, Newmains, Wishaw, Lanarkshire ML2 9DA2
£93.5K07/210.67 mi22, Kildare Place, Newmains ML2 9FB2
£89.5K07/210.67 mi4, Kildare Place, Newmains, Wishaw ML2 9FB2
£82K12/210.71 mi3, Walkers Court, Newmains, Wishaw, Lanarkshire ML2 9EY2
£80K08/210.73 mi21, Manse Mews, Newmains, Wishaw, Lanarkshire ML2 9BZ2
£70K08/210.92 mi83, Braedale Crescent, Newmains, Wishaw, Lanarkshire ML2 9AQ2
£48K08/240.96 mi88, Eastmuir Street, Wishaw, Lan ML2 8PX2
£60K02/211.08 mi31, Thrashbush Road, Wishaw, Lan ML2 8LN2
£75K01/211.23 mi6, Banchory Road, Wishaw, Lan ML2 7YX2
£93K12/211.27 mi11, Berriedale Quad, Wishaw ML2 7YY2
£48.2K11/211.35 mi32a, Biggar Road, Cleland, Motherwell, Lanarkshire ML1 5PB2
£71K06/211.37 mi94, Waverley Drive, Wishaw, Lanarkshire ML2 7DR2
£67K03/211.37 mi106, Waverley Drive, Wishaw, Lanarkshire ML2 7DR2
£70K05/211.39 mi105, Ivanhoe Crescent, Wishaw, Lanarkshire ML2 7DT2
£114.2K04/241.5 mi22, Auchenstewart Court, Wishaw, Lanarkshire ML2 7BU2
£82.5K07/211.5 mi40, Auchenstewart Court, Wishaw, Lanarkshire ML2 7BU2
£90K04/211.52 mi27, Devine Court, Wishaw, Lanarkshire ML2 7ES2
£85K09/211.52 mi19, Devine Court, Wishaw ML2 7ES2
£57K02/211.52 mi24, Ivanhoe Crescent, Wishaw, Lan ML2 7DZ2
£42K06/241.53 mi55, Beechwood Crescent, Wishaw, Lanarkshire ML2 8JF2
£85K06/211.67 mi5, Harestone Road, Wishaw ML2 8DB2
£75K10/211.73 mi22, Reynolds Path, Wishaw, Lanarkshire ML2 8AY2
£68K02/211.73 mi14, Reynolds Path, Wishaw, Lanarkshire ML2 8AY2
£50K12/211.78 mi5, Kirk Road, Wishaw, Lanarkshire ML2 7BL2
£69K05/211.84 mi59, Russell Street, Wishaw, Lanarkshire ML2 7AL2
£107K04/211.9 mi75b, Belhaven Terrace, Wishaw, Lanarkshire ML2 7AY2
£85K04/241.91 mi77, Burnhall Place, Wishaw, Lanarkshire ML2 8EE2
£72.5K09/211.94 mi111, Russell Street, Wishaw, Lanark ML2 7AP2
£74K12/211.96 mi115, Wishaw Road, Wishaw, Lanarkshire ML2 8EA2
£83K05/211.97 mi17, Anderson Court, Wishaw, Lanark ML2 7PD2
£83K11/211.98 mi70, Miller Street, Wishaw ML2 7BB2
£60K02/211.98 mi7, Cleland Road, Wishaw, Lan ML2 7PH2

Local Rents

23 rents from £475/mo to £895/mo, average is £725/mo.

RentDateDistanceAddressBeds 
£59506/240.04 mi5 Kildonan Court, Newmains, Wishaw, ML2 9DL2
£69506/240.04 mi13 Kildonan Court Wishaw ML2 9DL2
£47504/230.07 mi-2
£89510/240.19 mi-2
£72506/230.32 mi-2
£82503/250.33 mi-2
£70012/230.4 mi-2
£69502/250.57 mi-2
£65012/230.61 mi-2
£65012/230.61 mi-2
£79006/240.72 mi-2
£72508/240.72 mi-2
£79003/240.72 miBaillie Gardens, Wishaw, ML22
£75009/230.93 mi-2
£75010/240.93 mi-2
£79511/230.94 mi-2
£89510/240.94 mi-2
£62506/241.03 mi46 Northmuir Drive, Wishaw, ML2 8NS2
£55007/231.09 mi-2
£69506/241.13 mi-2
£85004/251.13 mi-2
£75005/241.14 miNorth Dryburgh Road, Wishaw2
£75005/241.24 miNorth Dryburgh Road, Wishaw2

Local Area Statistics

Population in Wishaw

40,577

Town centre distance

1.46 miles away

Nearest school

0.50 miles away

Nearest train station

1.26 miles away

 

 

Rental growth (12m)

+14%

Sales demand

Seller's market

Capital growth (5yrs)

+15%

Property History

Price changed to £58,000

February 16, 2025

Listed for £65,000

October 4, 2024

Floor Plans

Description

  • Prime Property Auctions is excited to present this fantastic 2 bedroom flat, located within a prime location in Wishaw *** Guide Price £65,000** **HOME REPORT VALUATION ** +

  • ***7, Devine Grove, Newmains, Wishaw, Lanarkshire, ML2 9ER Previously sold for £127,500. 17, Robert Wynd, Newmains, Wishaw, ML2 9ER Previously sold for £176,000. 38, Murray Crescent, Newmains, Wish +

  • Fantastic Opportunity. Sure to appeal to shrewd investors looking for an easily lettable property with great yield & capital growth potential. +

  • Once renovated, the property could attract a monthly rental figure of £645 - £695 per month (£7,740 - £8,340 p/a). This would produce a fantastic 11% - 12% gross yield if achieved for a guide pri +

  • Property is located in a sought after location in Wishaw, close to local amenities and situated just a short 28 minute drive from Glasgow City Centre. PRIME LOCATION +

  • Prime Property Auctions is excited to present this fantastic 2 bedroom flat, located within a prime location in Wishaw * Guide Price £65,000 **HOME REPORT VALUATION   **

 

  • *7, Devine Grove, Newmains, Wishaw, Lanarkshire, ML2 9ER Previously sold for £127,500. 17, Robert Wynd, Newmains, Wishaw, ML2 9ER Previously sold for £176,000. 38, Murray Crescent, Newmains, Wishaw, ML2 9EP Previously sold for £177,500*

 

  • Fantastic Opportunity. Sure to appeal to shrewd investors looking for an easily lettable property with great yield & capital growth potential. 

 

  • Once renovated, the property could attract a monthly rental figure of £675 - £725 per month (£8,100 - £8,700 p/a). This would produce a fantastic 12.5% - 13.4% gross yield if achieved for a guide price of £65,000. *HIGH YIELD POTENTIAL*

 

  • Property is located in a sought after location in Wishaw, close to local amenities and situated just a short 28 minute drive from Glasgow City Centre. *PRIME LOCATION*

 

 

Prime Property Auctions NEW ENTRY. Fantastic 2 bedroom flat, located in a sought after location in Wishaw. *Guide Price £65,000*

 

Property comprises: Entrance hallway, living room, kitchen, 2 large double bedrooms and bathroom. Property benefits from ample storage throughout.

 

Prime Opportunity for Property investor looking for a property in an excellent location. Great Capital growth potential. Sure to appeal to shrewd buy to let investors & owner occupiers alike.

 

Excellent Investment Opportunity. Property is ready to move into / let. 

 

Brilliant SA / AirBnb Opportunity, subject to gaining necessary permissions. Comparable properties in the area are achieving upwards of £70 per night. Sure to appeal to investors looking for an easy lettable property in a sought after location with great potential for Capital Growth.

 

 

The local has seen some great sales recently showing that there is strong demand.

 

 

Local sales evidence:

 

*7, Devine Grove, Newmains, Wishaw, Lanarkshire, ML2 9ER Previously sold for £127,500. 17, Robert Wynd, Newmains, Wishaw, ML2 9ER Previously sold for £176,000. 38, Murray Crescent, Newmains, Wishaw, ML2 9EP Previously sold for £177,500*

 

 

Property has a Guide price of £65,000 and is sure to appeal to investors looking for a easy to rent property that will provide a fantastic cash producing asset.

 

Potentially high yielding investment property. * EASY RENTAL PROPERTY *

 

This lot is open to immediate offers. Should you wish to offer NOW, you can do so via our “ Offer Now” button on our website.

 

This property is offered at a fantastic price to ensure an Auction sale.

 

The property will feature in our upcoming timed online auction. To participate in the live auction, you must have a bidding account created. For further details on how to have a bidding account created please contact the team.

 

Location:

Wishaw, located in North Lanarkshire, Scotland, is a town known for its strong community spirit and convenient location. It offers easy access to both Glasgow and Edinburgh via major roadways and rail links, making it ideal for commuters. The town has a variety of amenities, including schools, healthcare facilities, and leisure options such as parks and sports centres. Property prices are relatively affordable compared to nearby cities, attracting first-time buyers and investors. Its mix of suburban living and proximity to urban areas makes Wishaw a popular choice for families and professionals alike.

Agent Details

Prime Property Auctions (Scotland) Ltd, Glasgow

0141 465 5880

Next Steps?

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