2 Bed Flat, Refurb/BRRR, Leeds, LS12 3LG, £70,000

Burnsall Grange, Leeds, LS12 3LG - 6 months ago

Leasehold
Refurb/BRRR
ROI: 9%
~67 m²
+9 photos

ValuationUndervalued

Sold Prices£58K - £173K
Sold Prices/m²£982/m² - £2.8K/m²

 

 

Square Metres

~66.90 m²
Price/m²£1K/m²

Value Estimate

£72,100
BMV3%

 

 

End Value (After Refurb)

£111,413

Uplift in Value

+59%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£17,500

Stamp Duty & Legal Fees

£4,700

Refurb Costs

£26,472

Bridging Loan Interest

£1,838

Total Cash In

£52,260

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£111,413

Mortgage (After Refinance)

£83,559

Mortgage LTV

75%

Cash Released

£31,059

Cash Left In

£21,200

Equity

£27,853

Rent Range

£650 - £3,575

Rent Estimate

£926

Running Costs/mo

£553

Cashflow/mo

£373

Cashflow/yr

£4,472

ROI

9%

Gross Yield

16%

Local Sold Prices

28 sold prices from £58K to £173K, average is £113K. £982/m² to £2.8K/m², average is £2.1K/m².

PriceDateDistanceAddressBeds 
£70K06/230.34 mi2, Privilege Street, Leeds, West Yorkshire LS12 4LN2
£65K04/230.36 mi14, Thornhill Place, Leeds, West Yorkshire LS12 4LQ2
£108K11/220.41 mi38, Saxstead Rise, Leeds, West Yorkshire LS12 4ND2
£116.3K09/230.42 mi18, Saxstead Rise, Leeds, West Yorkshire LS12 4ND2
£112K01/230.42 mi14, Saxstead Rise, Leeds, West Yorkshire LS12 4ND2
£106.4K01/210.42 mi26, Saxstead Rise, Leeds, West Yorkshire LS12 4ND2
£116K09/230.42 mi36, Saxstead Rise, Leeds, West Yorkshire LS12 4ND2
£83K11/200.49 mi10, Masham Grove, Leeds, West Yorkshire LS12 1QT2
£105K12/220.59 mi19, Tavistock Mews, Leeds, West Yorkshire LS12 4DQ2
£114K11/220.59 mi17, Tavistock Mews, Leeds, West Yorkshire LS12 4DQ2
£110K09/230.63 mi25, Blue Hill Lane, Leeds, West Yorkshire LS12 4WD2
£96.5K08/210.67 mi26, Tavistock Park, Leeds, West Yorkshire LS12 4DD2
£95K10/210.67 mi8, Tavistock Park, Leeds, West Yorkshire LS12 4DD2
£120K06/230.69 mi22, Tavistock Close, Leeds, West Yorkshire LS12 4DJ2
£97.5K03/210.69 mi26, Tavistock Close, Leeds, West Yorkshire LS12 4DJ2
£120K11/230.69 mi24, Tavistock Close, Leeds, West Yorkshire LS12 4DJ2
£60K09/220.76 mi17, Hardrow Road, Leeds, West Yorkshire LS12 4BX2
£90K10/210.83 mi19, Langton Green, Leeds, West Yorkshire LS12 4EJ2
£58K03/230.83 mi16, Langton Green, Leeds, West Yorkshire LS12 4EJ2
£173K07/240.94 mi55a, Cardigan Lane, Leeds, West Yorkshire LS4 2LE2
£169.9K06/220.97 mi26, Abbots Mews, Leeds, West Yorkshire LS4 2AB2
£167.5K04/230.97 mi37, Abbots Mews, Leeds, West Yorkshire LS4 2AB2
£155K01/210.97 mi14, Abbots Mews, Leeds, West Yorkshire LS4 2AB2
£145K03/210.97 mi35, Abbots Mews, Leeds, West Yorkshire LS4 2AB2
£160K06/220.98 mi8, Abbots Mews, Leeds, West Yorkshire LS4 2AB2
£116.8K03/220.98 mi6, Abbots Mews, Leeds, West Yorkshire LS4 2AB2
£127K08/220.99 mi14, Knowle Mount, Leeds, West Yorkshire LS4 2PP2
£125K07/221 mi30, The Village Street, Leeds, West Yorkshire LS4 2PR2

Local Rents

50 rents from £650/mo to £3.6K/mo, average is £825/mo.

RentDateDistanceAddressBeds 
£82505/240.06 miWinker Green Mills, Stanningley Road2
£80002/250.08 mi-2
£84503/250.08 mi-2
£84512/240.08 mi-2
£82505/240.09 miWinker Green, Stanningley Road2
£95001/250.1 mi-2
£85012/240.1 mi-2
£79502/250.1 mi-2
£65002/240.11 mi-2
£85005/240.13 miHall Road, Leeds, West Yorkshire, LS122
£85003/240.15 miAthlone Grove, Leeds, West Yorkshire, LS122
£79505/240.15 miAthlone Grove, Leeds, West Yorkshire, LS122
£85005/240.15 miAthlone Grove, Leeds, West Yorkshire, LS122
£89502/250.16 mi-2
£85002/250.19 mi-2
£87505/240.2 miPasture View, Leeds, West Yorkshire, LS122
£75005/240.2 miLaurel Grove, Armley2
£65005/240.2 miCedar Street, Armley, Leeds2
£79505/240.21 miPasture View, Leeds, West Yorkshire2
£90012/240.21 mi-2
£75001/240.21 mi-2
£79505/240.23 miArmley Road, Flat 1, Leeds, West Yorkshire, LS122
£79505/240.23 miArmley Road, Leeds, West Yorkshire, LS122
£79505/240.23 miPaisley Grove, Leeds, West Yorkshire, LS122
£79506/240.25 miSalisbury Road, Leeds, LS122
£72505/240.26 miNancroft Mount, Leeds, West Yorkshire2
£69505/240.27 miChichester Street, Armley, Leeds2
£69505/240.27 miChichester Street, Armley, Leeds2
£3,57505/240.28 miArmley Road, Leeds, West Yorkshire, LS122
£95002/250.28 mi-2
£72505/240.29 miPaisley Place, Armley, Leeds, LS122
£85003/240.29 miPaisley Terrace, Leeds, West Yorkshire, LS122
£72503/240.3 miOban Place, Armley, Leeds, LS122
£84505/240.3 miChrist Church Avenue, Leeds, West Yorkshire, LS122
£77505/240.3 miNancroft Mount, Armley, Leeds, West Yorkshire, LS122
£1,06005/240.3 miWortley Road, Leeds, West Yorkshire, LS122
£90001/250.31 mi-2
£90001/250.31 mi-2
£82506/240.31 miNancroft Terrace, Armley, Leeds, LS122
£87005/240.31 miBrooklyn Avenue, Leeds, West Yorkshire, LS122
£77502/250.31 mi-2
£90005/240.32 mi-2
£72505/240.32 miPaisley Street, Armley, Leeds, LS122
£77506/240.32 miPaisley Street, Armley, Leeds, LS122
£1,80005/240.32 mi-2
£1,80012/240.32 mi-2
£1,80012/240.32 mi-2
£65005/240.32 miAviary Place, Leeds2
£85006/240.33 miGreenock Place, Leeds, West Yorkshire, LS122
£75012/240.33 mi-2

Local Area Statistics

Population in LS12

40,736

Population in Leeds

635,166

Town centre distance

1.51 miles away

Nearest school

0.30 miles away

Nearest train station

1.15 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+42%

Sales demand

Seller's market

Capital growth (5yrs)

+39%

Property History

Price changed to £70,000

January 11, 2025

Listed for £75,000

October 11, 2024

Floor Plans

Description

  • Family Bathroom With Separate WC +
  • Allocated Parking Space +
  • Fitted Kitchen +
  • Close To Local Amenities +
  • TWO Bedrooms +
  • NO CHAIN +
  • Excellent Transport Links +

The Property
Welcome to this generously proportioned two-bedroom flat, perfect for those looking to put their personal stamp on a property.

The flat features a bright and airy living room (4.93m x 3.78m / 16' 2" x 12' 5") with ample natural light from two large windows, offering plenty of space for relaxation and entertaining.

The flat includes two good-sized bedrooms. Bedroom 1 is a larger double (4.68m x 2.87m / 15' 4" x 9' 5"), while Bedroom 2 (3.94m x 2.50m / 12' 11" x 8' 2") provides additional
flexibility for use as a guest room, home office, or children's room.

The kitchen (3.65m x 2.65m / 12' 0" x 8' 8") is well-sized and offers plenty of potential for redesign and modernisation.

The property benefits from a separate toilet and a bathroom with a bathtub, providing convenience and functionality. All rooms are connected by a central hallway.

Located in a desirable area, this flat offers a fantastic opportunity for renovation to create a contemporary home tailored to your tastes. With a bit of modernisation, this property has the potential to be transformed into a wonderful living space. It also has the additional benefit of an allocated parking space.

Ideal for first-time buyers, investors, or anyone looking for a renovation project. Don't miss out on the chance to make this flat your own!

Lease info: 125 years from 22 March 1993 Please note this property has a short lease under 99 years which may affect your ability to obtain a mortgage.

Property ownership information

Ground rent review period: No review period

Service charge review period: No review period

Lease end date: 22/03/2118

Property Description Disclaimer

This is a general description of the property only, and is not intended to constitute part of an offer or contract. It has been verified by the seller(s), unless marked as 'draft'. Purplebricks conducts some valuations online and some of our customers prepare their own property descriptions, so if you decide to proceed with a viewing or an offer, please note this information may have been provided solely by the vendor, and we may not have been able to visit the property to confirm it. If you require clarification on any point then please contact us, especially if you’re traveling some distance to view. All information should be checked by your solicitor prior to exchange of contracts. Successful buyers will be required to complete anti-money laundering checks. Our partner, Lifetime Legal Limited, will carry out the initial checks on our behalf. The current non-refundable cost is £80 inc. VAT per offer. You’ll need to pay this to Lifetime Legal and complete all checks before we can issue a memorandum of sale. The cost includes obtaining relevant data and any manual checks and monitoring which might be required, and includes a range of benefits. Purplebricks will receive some of the fee taken by Lifetime Legal to compensate for its role in providing these checks.

Agent Details

Purplebricks, covering Leeds

0113 519 9101

Next Steps?

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