2 Bed Terraced House, Refurb/BRRR, Accrington, BB5 6SY, £85,000

Spencer Street, Accrington, Lancashire, BB5 6SY - 4 views - 5 months ago

Sold STC

Leasehold

Refurb/BRRR

ROI: 3%

~68 m²

+9 photos

ValuationOvervalued

Sold Prices	£43K - £780K
Sold Prices/m²	£572/m² - £11.1K/m²

Square Metres	~68.11 m²
Price/m²	£1.2K/m²
Value Estimate	£69,533£69,533

End Value (After Refurb)	£88,250£88,250
Uplift in Value	+4%+4%

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£21,250£21,250
Stamp Duty & Legal Fees	£3,750£3,750
Refurb Costs	£28,876£28,876
Bridging Loan Interest	£2,231£2,231
Total Cash In	£57,858£57,858

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£88,250£88,250
Mortgage (After Refinance)	£66,188£66,188
Mortgage LTV	75%75%
Cash Released	£2,438£2,438
Cash Left In	£55,420£55,420
Equity	£22,063£22,063
Rent Range	£400 - £850£400 - £850
Rent Estimate	£562
Running Costs/mo	£408£408
Cashflow/mo	£154£154
Cashflow/yr	£1,846£1,846
ROI	3%3%
Gross Yield	8%8%

Local Sold Prices

50 sold prices from £43K to £780K, average is £90K. £572/m² to £11.1K/m², average is £1.1K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£100K	10/21	0.02 mi	166, Bold Street, Accrington, Lancashire BB5 6SR	£1,350	74	2	Terraced House
£109.5K	04/23	0.08 mi	153, Bold Street, Accrington, Lancashire BB5 6SS	-	-	2	Terraced House
£89K	12/20	0.08 mi	153, Bold Street, Accrington, Lancashire BB5 6SS	-	-	2	Terraced House
£85K	01/23	0.09 mi	49, Cedar Street, Accrington, Lancashire BB5 6SQ	£1,393	61	2	Terraced House
£85K	08/21	0.09 mi	134, Avenue Parade, Accrington, Lancashire BB5 6QB	£1,348	63	2	Terraced House
£90K	07/23	0.09 mi	200, Avenue Parade, Accrington, Lancashire BB5 6QB	£1,021	88	2	Terraced House
£80K	04/23	0.09 mi	39, Bold Street, Accrington, Lancashire BB5 6SW	£1,000	80	2	Terraced House
£101K	03/23	0.1 mi	62, Oswald Street, Accrington, Lancashire BB5 6SJ	£878	115	2	Terraced House
£85K	05/21	0.11 mi	23, Bradford Street, Accrington, Lancashire BB5 6TB	£1,012	84	2	Terraced House
£78K	02/21	0.11 mi	117, Avenue Parade, Accrington, Lancashire BB5 6QA	£848	92	2	Terraced House
£57K	04/23	0.11 mi	137, Avenue Parade, Accrington, Lancashire BB5 6QA	-	-	2	Terraced House
£104K	05/23	0.12 mi	221, Stanley Street, Accrington, Lancashire BB5 6QQ	£1,278	81	2	Terraced House
£65.5K	02/21	0.13 mi	59, Water Street, Accrington, Lancashire BB5 6QU	£809	81	2	Terraced House
£90K	04/23	0.14 mi	17, Mansion Street South, Accrington, Lancashire BB5 6SH	£1,000	90	2	Terraced House
£165K	05/23	0.15 mi	68, Waddington Road, Accrington, Lancashire BB5 6QL	-	-	2	Detached House
£57K	10/21	0.16 mi	78, Stanley Street, Accrington, Lancashire BB5 6PQ	£851	67	2	Terraced House
£54.5K	02/21	0.16 mi	111, Stanley Street, Accrington, Lancashire BB5 6PQ	£757	72	2	Terraced House
£92K	03/23	0.16 mi	83, Stanley Street, Accrington, Lancashire BB5 6PQ	£989	93	2	Terraced House
£65K	04/23	0.16 mi	54, Stanley Street, Accrington, Lancashire BB5 6PQ	£774	84	2	Terraced House
£780K	04/21	0.16 mi	13, Washington Street, Accrington, Lancashire BB5 6PH	£11,143	70	2	Terraced House
£61K	02/23	0.17 mi	72, Water Street, Accrington, Lancashire BB5 6QZ	-	-	2	Terraced House
£72.5K	05/21	0.17 mi	45, Washington Street, Accrington, Lancashire BB5 6TF	£1,098	66	2	Terraced House
£75K	01/23	0.17 mi	28, Bold Street, Accrington, Lancashire BB5 6RH	£838	89	2	Terraced House
£78K	02/23	0.17 mi	5, Percy Street, Accrington, Lancashire BB5 6TQ	£1,114	70	2	Terraced House
£149.9K	12/22	0.21 mi	6, Coppice Avenue, Accrington, Lancashire BB5 6QS	£2,542	59	2	Semi-Detached House
£92K	03/23	0.23 mi	96, Manor Street, Accrington, Lancashire BB5 6EA	£1,373	67	2	Terraced House
£82K	04/23	0.24 mi	53, Manor Street, Accrington, Lancashire BB5 6EE	£1,108	74	2	Terraced House
£69K	12/20	0.25 mi	102, Burnley Road, Accrington, Lancashire BB5 6DW	£726	95	2	Terraced House
£122K	12/21	0.27 mi	23, Barnfield Street, Accrington, Lancashire BB5 2AQ	-	-	2	Terraced House
£101.5K	12/20	0.27 mi	12, Barnfield Street, Accrington, Lancashire BB5 2AQ	£1,025	99	2	Terraced House
£75K	03/23	0.28 mi	24, Water Street, Accrington, Lancashire BB5 6PX	£1,364	55	2	Terraced House
£90K	03/23	0.28 mi	195, Burnley Road, Accrington, Lancashire BB5 6DH	£968	93	2	Terraced House
£100.1K	10/21	0.28 mi	163, Burnley Road, Accrington, Lancashire BB5 6DH	£953	105	2	Terraced House
£110K	05/21	0.35 mi	42, Annie Street, Accrington, Lancashire BB5 6AQ	£1,264	87	2	Terraced House
£46K	10/21	0.4 mi	10, Hood Street, Accrington, Lancashire BB5 1BW	£667	69	2	Terraced House
£56K	06/23	0.4 mi	31, Hood Street, Accrington, Lancashire BB5 1BW	-	-	2	Terraced House
£43K	05/21	0.42 mi	31, Derby Street, Accrington, Lancashire BB5 1BP	£572	75	2	Terraced House
£104K	09/21	0.45 mi	23, Nutter Road, Accrington, Lancashire BB5 6BB	£1,095	95	2	Terraced House
£115K	05/23	0.45 mi	14, Nutter Road, Accrington, Lancashire BB5 6BB	-	-	2	Terraced House
£100K	03/23	0.47 mi	10, Haywood Road, Accrington, Lancashire BB5 6AT	£1,190	84	2	Terraced House
£142K	05/21	0.48 mi	4, Eton Avenue, Accrington, Lancashire BB5 6BH	£2,448	58	2	Semi-Detached House
£90K	05/21	0.49 mi	36, Haywood Road, Accrington, Lancashire BB5 6AT	£1,086	83	2	Terraced House
£95K	04/23	0.5 mi	18, Russell Street, Accrington, Lancashire BB5 2NF	£1,159	82	2	Terraced House
£64K	01/21	0.5 mi	26, Russell Street, Accrington, Lancashire BB5 2NF	-	-	2	Terraced House
£127.5K	11/21	0.51 mi	37, Lime Road, Accrington, Lancashire BB5 6BJ	£2,752	46	2	Semi-Detached House
£105K	12/21	0.51 mi	122, Lime Road, Accrington, Lancashire BB5 6BJ	£1,167	90	2	Terraced House
£107K	04/21	0.51 mi	116, Lime Road, Accrington, Lancashire BB5 6BJ	£1,176	91	2	Terraced House
£69.1K	02/21	0.51 mi	162, Wellington Street, Accrington, Lancashire BB5 2NJ	£813	85	2	Terraced House
£85K	02/23	0.53 mi	11, Ramsbottom Street, Accrington, Lancashire BB5 1BZ	-	-	2	Terraced House
£158K	03/21	0.54 mi	41, Clifton Avenue, Accrington, Lancashire BB5 6BE	£2,358	67	2	Semi-Detached House

Local Rents

28 rents from £400/mo to £850/mo, average is £595/mo.

Rent	Date	Distance	Address	Beds	Type
£670	12/24	0.02 mi	-	2	Terraced House
£650	12/24	0.06 mi	Oswald Street, Accrington, Lancashire, BB5	2	Flat
£650	12/24	0.07 mi	Bold Street, Accrington, Lancashire, BB5	2	Flat
£650	02/25	0.1 mi	-	2	Terraced House
£600	03/25	0.13 mi	-	2	Terraced House
£595	12/24	0.15 mi	Oswald Street, Accrington	2	Terraced House
£650	02/25	0.15 mi	-	2	Terraced House
£595	12/24	0.2 mi	-	2	Terraced House
£600	12/24	0.22 mi	Water Street, Accrington	2	Terraced House
£650	12/24	0.24 mi	Manor Street, Accrington, Lancashire, BB5	2	Terraced House
£550	12/24	0.26 mi	Lee Street, Accrington, Lancashire, BB5	2	Terraced House
£650	03/25	0.28 mi	-	2	Terraced House
£795	03/25	0.33 mi	-	2	Terraced House
£525	12/24	0.4 mi	-	2	Terraced House
£520	12/24	0.41 mi	-	2	Terraced House
£495	12/24	0.42 mi	3a Cross StreetAccringtonLancashire	2	Flat
£550	12/24	0.48 mi	Blackburn Road,Accrington,BB5	2	Flat
£450	12/24	0.49 mi	-	2	Flat
£595	12/24	0.54 mi	Bishop Street, Accrington, Lancashire, BB5	2	Flat
£525	12/24	0.55 mi	Eagle Street , Accrington, Lancashire, BB5	2	Flat
£675	03/25	0.55 mi	-	2	Terraced House
£400	12/24	0.56 mi	South Street, Accrington, BB5	2	Terraced House
£850	02/25	0.56 mi	-	2	Bungalow
£450	12/24	0.56 mi	-	2	Terraced House
£595	12/24	0.56 mi	South Street, Accrington	2	Flat
£550	12/24	0.57 mi	Clement Street, Accrington, Lancashire, BB5	2	Terraced House
£500	02/25	0.57 mi	-	2	Terraced House
£630	12/24	0.6 mi	Woodnook	2	Terraced House

Local Area Statistics

Population in BB5	61,41561,415
Town centre distance	0.39 miles away0.39 miles away
Nearest school	0.20 miles away0.20 miles away
Nearest train station	0.64 miles away0.64 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+21%+21%
Sales demand	Seller's marketSeller's market
Capital growth (5yrs)	+23%+23%

Property History

Listed for £85,000

October 16, 2024

Description

Forecourt Fronted Terrace +
Two Reception Rooms +
Two Bedrooms +
Vestibule Entrance +
Wall Enclosed Rear Yard +
In Need of Works +
Investment Property +
Popular Residential Area +
NO ONWARD CHAIN DELAY +
EPC - TBC / Council Tax - A / Leasehold +

Mid terrace property in need of renovation works. Investor opportunity.

We do require similar properties for waiting investors. If you are considering selling and would like a valuation enquire today.

Agent Details

Property Shop - Sales & Lettings, Accrington

01254 961463

Next Steps?

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

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2 Bed Terraced House, Refurb/BRRR, Accrington, BB5 6SY, £85,000

ValuationOvervalued

Investment OpportunityOpen in Analyser

Local Sold PricesDownload Show map

Local RentsDownload Show map

Links

Local Area Statistics

Property History

Description

Agent Details

Next Steps?

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Investment Opportunity

Local Sold Prices

Local Rents