Potential 4-Bed HMO, Oldbury, B69 1PJ, £190,000

Gilbert Avenue, Oldbury, B69 1PJ - 2 views - 6 months ago

HMO
Refurb/BRRR
ROI: 7%
~82 m²
+3 photos

ValuationFair Value

Sold Prices£101K - £315K
Sold Prices/m²£1.3K/m² - £6K/m²

 

 

Square Metres

~82.40 m²
Price/m²£2.3K/m²

Value Estimate

£192,864

 

 

End Value (After Refurb)

£193,293

Uplift in Value

+2%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£47,500

Stamp Duty & Legal Fees

£10,700

Refurb Costs

£32,606

Bridging Loan Interest

£4,988

Total Cash In

£97,543

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£193,293

Mortgage (After Refinance)

£144,970

Mortgage LTV

75%

Cash Released

£2,470

Cash Left In

£95,073

Equity

£48,323

Room Rate

£511

Gross Rent

£2,044

Running Costs/mo

£1,474

Cashflow/mo

£570

Cashflow/yr

£6,839

ROI

7%

Gross Yield

13%

Local Sold Prices

50 sold prices from £101K to £315K, average is £211.5K. £1.3K/m² to £6K/m², average is £2.4K/m².

PriceDateDistanceAddressBeds 
£210.5K07/230.07 mi23, Gilbert Avenue, Tividale, Oldbury, West Midlands B69 1PJ3
£120K02/210.08 mi164, Tower Road, Tividale, Oldbury, West Midlands B69 1PE3
£165K02/230.1 mi195, Tower Road, Tividale, Oldbury, West Midlands B69 1PF3
£123K07/210.1 mi193, Tower Road, Tividale, Oldbury, West Midlands B69 1PF3
£175.5K12/200.1 mi186, Tower Road, Tividale, Oldbury, West Midlands B69 1PF3
£150K11/200.1 mi197, Tower Road, Tividale, Oldbury, West Midlands B69 1PF3
£230K03/210.15 mi28, St Andrews Drive, Tividale, Oldbury, West Midlands B69 1PR3
£208K03/210.15 mi20, St Andrews Drive, Tividale, Oldbury, West Midlands B69 1PR3
£285K03/230.15 mi38, St Andrews Drive, Tividale, Oldbury, West Midlands B69 1PR3
£185K10/210.16 mi33, City Road, Tividale, Oldbury, West Midlands B69 1QZ3
£232.5K01/230.16 mi32, City Road, Tividale, Oldbury, West Midlands B69 1QZ3
£265K02/230.16 mi152, Darbys Hill Road, Tividale, Oldbury, West Midlands B69 1SQ3
£299.9K05/230.24 mi229, Oakham Road, Tividale, Oldbury, West Midlands B69 1PS3
£144K03/210.25 mi7, East Avenue, Tividale, Oldbury, West Midlands B69 1QU3
£175K05/230.25 mi10, East Avenue, Tividale, Oldbury, West Midlands B69 1QU3
£265K06/230.25 mi50, West Avenue, Tividale, Oldbury, West Midlands B69 1QX3
£216K02/210.26 mi25, Muirfield Crescent, Tividale, Oldbury, West Midlands B69 1PW3
£230K10/200.26 mi28, Muirfield Crescent, Tividale, Oldbury, West Midlands B69 1PN3
£178K12/220.26 mi8, Hawfield Close, Tividale, Oldbury, West Midlands B69 1LH3
£220K12/200.27 mi1, Midhill Drive, Rowley Regis, West Midlands B65 9SD3
£315K05/220.28 mi131, Tower Road, Tividale, Oldbury, West Midlands B69 1NF3
£194.3K12/200.3 mi3, St Brades Close, Tividale, Oldbury, West Midlands B69 1NX3
£245.5K11/210.32 mi43, Midhill Drive, Rowley Regis, West Midlands B65 9SG3
£249.9K05/210.32 mi63, Midhill Drive, Rowley Regis, West Midlands B65 9SG3
£285K08/220.35 mi1, Wadham Close, Rowley Regis, West Midlands B65 9SH3
£209.5K04/210.35 mi11, Strawberry Close, Tividale, Oldbury, West Midlands B69 1NU3
£225K07/210.37 mi11, Gleneagles Drive, Tividale, Oldbury, West Midlands B69 1PU3
£187.5K08/210.39 mi99, City Road, Tividale, Oldbury, West Midlands B69 1QS3
£210K06/230.39 mi14, Newbury Walk, Rowley Regis, West Midlands B65 9DF3
£172.5K07/210.42 mi13, Portway Hill, Rowley Regis, West Midlands B65 9DE3
£101K08/210.42 mi65, Tower Road, Tividale, Oldbury, West Midlands B69 1NA3
£160K06/210.42 mi68, Tower Road, Tividale, Oldbury, West Midlands B69 1NA3
£165K03/210.42 mi87, Tower Road, Tividale, Oldbury, West Midlands B69 1NA3
£240K04/210.42 mi27, Sidaway Close, Rowley Regis, West Midlands B65 9SJ3
£300K03/230.42 mi3, Sunningdale Drive, Tividale, Oldbury, West Midlands B69 1PX3
£164.3K12/200.42 mi16, Timothy Road, Tividale, Oldbury, West Midlands B69 1NS3
£230K10/210.42 mi75, Darbys Hill Road, Tividale, Oldbury, West Midlands B69 1SD3
£240K10/200.43 mi14, Sunningdale Drive, Tividale, Oldbury, West Midlands B69 1PX3
£212.5K07/210.43 mi22, Sunningdale Drive, Tividale, Oldbury, West Midlands B69 1PX3
£315K03/230.43 mi28, Sunningdale Drive, Tividale, Oldbury, West Midlands B69 1PX3
£240K12/220.43 mi81, Darbys Hill Road, Tividale, Oldbury, West Midlands B69 1SD3
£275K11/200.43 mi27, Hoylake Drive, Tividale, Oldbury, West Midlands B69 1QA3
£220K03/210.43 mi29, Hoylake Drive, Tividale, Oldbury, West Midlands B69 1QA3
£195K05/230.43 mi90, Wallace Road, Oldbury, West Midlands B69 1HL3
£207K07/230.44 mi285, Newbury Lane, Oldbury, West Midlands B69 1JH3
£265K11/220.45 mi24, Sidaway Close, Rowley Regis, West Midlands B65 9SJ3
£268K03/210.46 mi175, Oakham Road, Tividale, Oldbury, West Midlands B69 1PZ3
£149.9K02/210.46 mi342, Newbury Lane, Oldbury, West Midlands B69 1JJ3
£157.5K06/230.46 mi330, Newbury Lane, Oldbury, West Midlands B69 1JJ3
£155.5K10/210.47 mi101, California Road, Tividale, Oldbury, West Midlands B69 1SP3

Local Area Statistics

Population in B69

29,011

Population in Oldbury

59,935

Town centre distance

1.28 miles away

Nearest school

0.20 miles away

Nearest train station

1.58 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+16%

Sales demand

Balanced market

Capital growth (5yrs)

+28%

Property History

Listed for £190,000

October 8, 2024

Floor Plans

Description

NO UPPER CHAIN | In Need Of Refurbishment | Driveway Parking | Two Shower Rooms | Two Reception Rooms | Three Bedrooms | Rear Garden | Concentric Sales & Lettings are pleased to present this three bedroom terraced house in the Oldbury area - offered with no upper chain and in need of some refurbishment. Accommodation comprises; entrance hall, two receptions rooms, kitchen, first floor landing, two shower rooms and three bedrooms. Additional benefits include driveway parking to the front and a rear garden in need of tidying up.

*Please Note - this property has been rented as a HMO and is no longer in the same condition as the marketing photos. Some refurbishment is required. The property will be vacant before exchange of contracts takes place.

Tenure: Freehold

EPC: C

Council Tax Band: A

Property Type: Mid Terrace

Parking: Driveway

Heating: Gas
Reception 1

Reception 2

Kitchen

Bedroom 1

Bedroom 2

Bedroom 3

Bathroom 1

Bathroom 2

Medium sized Garden

Parking

Every care has been taken with the preparation of these particulars but complete accuracy cannot be guaranteed. If there is any point which is particularly important to you, please obtain professional confirmation. Alternatively, we will be pleased to check the information for you. All measurements quoted are approximate. Any Fixtures, Fittings and Appliances referred to have not been tested and therefore no guarantee can be given that they are in working order. These particulars do not constitute a contract or part of a contract.

Agent Details

Concentric Sales & Lettings, Wolverhampton

01902 953085

Next Steps?

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