2 Bed Flat, Cash/Bridging Only, Leeds, LS15 8AZ, £135,000

35 Austhorpe Road | Crossgates | Leeds | LS15 8BA - 2 views - 7 months ago

Cash
ROI: 3%
~68 m²
+2 photos

ValuationOvervalued

Sold Prices£65K - £195K
Sold Prices/m²£970/m² - £4.1K/m²

 

 

Square Metres

~68.11 m²
Price/m²£2K/m²

Value Estimate

£125,913

 

 

End Value (After Refurb)

£172,366

Uplift in Value

+28%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£33,750

Stamp Duty & Legal Fees

£5,250

Refurb Costs

£26,951

Bridging Loan Interest

£3,544

Total Cash In

£71,245

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£172,366

Mortgage (After Refinance)

£129,275

Mortgage LTV

75%

Cash Released

£28,025

Cash Left In

£43,220

Equity

£43,092

Rent Range

£850 - £1,100

Rent Estimate

£931

Running Costs/mo

£745

Cashflow/mo

£186

Cashflow/yr

£2,234

ROI

3%

Gross Yield

8%

Local Sold Prices

25 sold prices from £65K to £195K, average is £116.2K. £970/m² to £4.1K/m², average is £1.8K/m².

PriceDateDistanceAddressBeds 
£126K12/210.21 mi9, Station Court, Leeds, West Yorkshire LS15 8ES2
£93K06/220.24 mi18, Farm Court, Leeds, West Yorkshire LS15 7JT2
£85K05/220.25 mi12, Farm Court, Leeds, West Yorkshire LS15 7JT2
£96K04/220.25 mi11, Farm Court, Leeds, West Yorkshire LS15 7JT2
£80K03/230.25 mi9, Farm Court, Leeds, West Yorkshire LS15 7JT2
£120K06/230.34 mi34, Sandbed Lawns, Leeds, West Yorkshire LS15 8LQ2
£115K04/240.34 mi11, Sandbed Lawns, Leeds, West Yorkshire LS15 8LQ2
£110K03/240.34 mi22, Sandbed Lawns, Leeds, West Yorkshire LS15 8LQ2
£120K07/210.35 mi71, Manston Gardens, Leeds, West Yorkshire LS15 8HA2
£125K10/210.35 mi29, Sandbed Lawns, Leeds, West Yorkshire LS15 8LQ2
£65K04/210.55 mi50, Swardale Road, Leeds, West Yorkshire LS14 5HN2
£72.5K08/230.55 mi36, Swardale Road, Leeds, West Yorkshire LS14 5HN2
£74K05/220.57 mi14, Eastwood Nook, Leeds, West Yorkshire LS14 5HG2
£154K08/220.58 mi19, Hollyshaw Lane, Leeds, West Yorkshire LS15 7BA2
£117K02/240.58 mi30, Eastwood Nook, Leeds, West Yorkshire LS14 5HG2
£116.2K10/220.59 mi26, Eastwood Nook, Leeds, West Yorkshire LS14 5HG2
£175K11/220.59 mi15, Hollyshaw Lane, Leeds, West Yorkshire LS15 7BA2
£120K06/230.63 mi12, Victoria Court, Leeds, West Yorkshire LS15 8SJ2
£100K06/210.73 mi255, Stanks Lane South, Leeds, West Yorkshire LS14 5PB2
£116.5K03/230.77 mi22, Swarcliffe Approach, Leeds, West Yorkshire LS14 5JZ2
£95K07/230.77 mi20, Swarcliffe Approach, Leeds, West Yorkshire LS14 5JZ2
£133K01/220.78 mi87, Barwick Road, Leeds, West Yorkshire LS15 8SP2
£195K06/210.86 mi26, Rockingham Road, Leeds, West Yorkshire LS15 8UL2
£103.5K02/210.93 mi17, Parkside Crescent, Seacroft, Leeds, West Yorkshire LS14 6FL2
£185K10/210.94 mi35, Chelsfield Way, Leeds, West Yorkshire LS15 8XE2

Local Rents

10 rents from £850/mo to £1.1K/mo, average is £895/mo.

RentDateDistanceAddressBeds 
£96502/250.04 mi-2
£89503/250.19 mi-2
£89504/240.23 mi-2
£85005/240.37 miHollyshaw Lane, Leeds2
£85005/240.37 miSandiford Terrace, Leeds2
£1,10005/240.39 miKingswear Crescent, Leeds, LS152
£89505/240.58 miAshfield Close, Leeds2
£85005/240.58 miMorritt Avenue, Leeds 152
£85005/240.6 miWhitkirk2
£92505/240.61 miLulworth Avenue, Leeds2

Local Area Statistics

Population in LS15

34,708

Population in Leeds

635,166

Town centre distance

4.32 miles away

Nearest school

0.30 miles away

Nearest train station

0.19 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+4%

Sales demand

Balanced market

Capital growth (5yrs)

+35%

Property History

Listed for £135,000

October 7, 2024

Floor Plans

Description

  • FREEHOLD GOUND FLOOR FLAT +
  • CENTRAL LOCATION +
  • WALKING DISTANCE TO MANY AMENITIES +
  • TWO BEDROOMS +
  • SPACIOUS LIVING ROOM WITH PATIO DOORS TO GARDEN +
  • REPAINTED & RECARPETED +
  • PARKING AVAILABLE +
  • COUNCIL TAX BAND B +
  • EPC RATING D +

* RARE OPPORTUNITY * FREEHOLD FLAT * READY TO MOVE INTO * CENTRAL LOCATION *

A rare opportunity to acquire a freehold flat. Ideally suited to cash buyers the flat is free of service charges and has no ground rent to pay, so would offer investors a potential yield in excess of 6% if paying the full asking price.

Being one of only two flats which were purpose built, the property stands to the rear of Austhorpe Road which is central to the busy and thriving area of Crossgates. With the Arndale shopping centre, banks, post office and many cafes, bars and restaurants to choose from you will be spoilt for choice as to how to spend your leisure time.

The accommodation briefly comprises; open plan living room, kitchen area, two bedrooms and a bathroom. Outside there is parking to the front.

Approximately six miles east of Leeds city centre, the area is served by great transport links and a railway station offering a quick and easy commute to Leeds, York or Wakefield and the surrounding areas.

* Call now to arrange your viewing *

Ground Floor -

Entrance Lobby - Giving direct access to the rear of the apartment through a PVCu double-glazed door. A useful under stair storage space offers a good place for boots and shoes etc.

Living Room - 3.78m x 4.88m (12'5" x 16'0") - A spacious open plan living room with sliding patio doors opening to the front garden of the property. Central heating radiator and double-glazed window again overlooking the front.

Kitchen - 1.78m x 2.92m (5'10" x 9'7") - The kitchen is fitted with a range of wall and base units with contrasting work surfaces over which incorporate a stainless steel sink with side drainer and mixer tap. Integrated cooking appliances include a built under electric oven with a gas hob and extrator hood over. A plumbed space provides space for a washing machine and there is also space for a tall fridge/freezer. A double-glazed window overlooks the rear.

Inner Hallway - With large walk in storage cupboard houses the central heating boiler and is useful for household utility items.

Bedroom 1 - 3.05m x 2.87m (10'0" x 9'5") - A double bedroom with central heating radiator and double-glazed window looking over the front garden.

Bedroom 2 - 2.03m x 2.39m (6'8" x 7'10") - A single bedroom with central heating radiator and double-glazed window looking over the front garden.

Bathroom - Fitted with a white three piece suite which comprises;- panelled bath with shower and glass screen over, a pedestal hand wash basin and low flush w.c. Central heating radiator and a double-glazed window placed to the rear.

Exterior - To the front of the property is a parking area and communal gated lawn. The lawned area does offer potential for further parking to be created is so desired. The garden continues to the side giving access to the rear and to the entrance door for the flat above.

Agent Details

Emsleys Estate Agents, Crossgates

0113 519 1216

Next Steps?

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