3 Bed Semi-Detached House, Refurb/BRRR, Oldbury, B68 9SB, £240,000

3, Ferguson Road, Oldbury, B68 9SB - 12 views - 6 months ago

Sold STC
Refurb/BRRR
ROI: 3%
~93 m²
+6 photos

ValuationOvervalued

Sold Prices£70K - £265K
Sold Prices/m²£1.4K/m² - £4K/m²

 

 

Square Metres

~93 m²
Price/m²£2.6K/m²

Value Estimate

£202,705

 

 

End Value (After Refurb)

£206,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£60,000

Stamp Duty & Legal Fees

£8,400

Refurb Costs

£36,800

Bridging Loan Interest

£6,300

Total Cash In

£113,250

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£206,000

Mortgage (After Refinance)

£154,500

Mortgage LTV

75%

Cash Left In

£113,250

Equity

£51,500

Rent Range

£700 - £1,300

Rent Estimate

£1,221

Running Costs/mo

£908

Cashflow/mo

£313

Cashflow/yr

£3,757

ROI

3%

Gross Yield

6%

Local Sold Prices

50 sold prices from £70K to £265K, average is £194K. £1.4K/m² to £4K/m², average is £2.2K/m².

PriceDateDistanceAddressBeds 
£183K08/210.05 mi46, St Johns Road, Oldbury, West Midlands B68 9SA3
£70K01/230.05 mi50, St Johns Road, Oldbury, West Midlands B68 9SA3
£186K11/200.06 mi38, Ferguson Road, Oldbury, West Midlands B68 9SB3
£225K02/230.15 mi81, Basons Lane, Oldbury, West Midlands B68 9SL3
£185K11/210.15 mi52, Birch Street, Oldbury, West Midlands B68 9RU3
£206K11/210.19 mi35, Apollo Road, Oldbury, West Midlands B68 9RT3
£162K02/210.22 mi54, Apollo Road, Oldbury, West Midlands B68 9RS3
£210K05/230.25 mi17, Richmond Hill, Oldbury, West Midlands B68 9TH3
£141K12/220.25 mi133, Barker Street, Oldbury, West Midlands B68 9UF3
£203K11/200.25 mi137, Manor Road, Smethwick, West Midlands B67 7HH3
£229K12/200.29 mi9, Small Close, Smethwick, West Midlands B67 7RE3
£195K01/230.29 mi19, Douglas Road, Oldbury, West Midlands B68 9ST3
£199K03/230.29 mi22, Douglas Road, Oldbury, West Midlands B68 9ST3
£177.5K12/200.29 mi34, Douglas Road, Oldbury, West Midlands B68 9ST3
£248K09/210.29 mi88, Dog Kennel Lane, Oldbury, West Midlands B68 9LZ3
£135K01/210.3 mi101a, Vicarage Road, Oldbury, West Midlands B68 8HU3
£235K04/230.3 mi104, Holly Lane, Smethwick, West Midlands B67 7LA3
£193K02/210.3 mi103, Holly Lane, Smethwick, West Midlands B67 7LA3
£261K12/200.3 mi76, West Park Road, Smethwick, West Midlands B67 7JH3
£180K07/210.31 mi74, Queens Road, Smethwick, West Midlands B67 7HE3
£180K11/200.31 mi4, Thornwood Close, Oldbury, West Midlands B68 9LX3
£200K09/230.34 mi11, Brian Road, Smethwick, West Midlands B67 7LQ3
£155K11/200.34 mi17, Brian Road, Smethwick, West Midlands B67 7LQ3
£150K02/210.34 mi290, Tat Bank Road, Oldbury, West Midlands B68 8NR3
£168.7K03/210.34 mi23, Garratt Close, Oldbury, West Midlands B68 9NU3
£245K02/230.36 mi92, Holly Lane, Smethwick, West Midlands B67 7LB3
£199K04/230.36 mi18, Brian Road, Smethwick, West Midlands B67 7LG3
£180K05/210.36 mi32, Brian Road, Smethwick, West Midlands B67 7LG3
£265K07/230.38 mi25, Heather Road, Smethwick, West Midlands B67 7LN3
£127.5K12/200.39 mi82, Wellesley Road, Oldbury, West Midlands B68 8SA3
£180K06/210.4 mi15, Landswood Road, Oldbury, West Midlands B68 9QE3
£235K02/230.4 mi33, Pel Crescent, Oldbury, West Midlands B68 8SS3
£260K11/220.4 mi17, Pel Crescent, Oldbury, West Midlands B68 8SS3
£220K06/230.4 mi28, Milton Road, Smethwick, West Midlands B67 7HT3
£240K06/210.41 mi26, Vicarage Street, Oldbury, West Midlands B68 8HQ3
£265K02/210.41 mi8, Aldridge Close, Oldbury, West Midlands B68 9NY3
£187.5K12/200.41 mi18, West Park Road, Smethwick, West Midlands B67 7JJ3
£235K12/200.42 mi79, Crosswells Road, Oldbury, West Midlands B68 8HH3
£190K02/230.43 mi17, Giles Road, Oldbury, West Midlands B68 8JJ3
£155K07/210.43 mi21, Jacmar Crescent, Smethwick, West Midlands B67 7LE3
£180K09/210.44 mi215, Londonderry Lane, Smethwick, West Midlands B67 7EP3
£225K06/230.44 mi213, Londonderry Lane, Smethwick, West Midlands B67 7EP3
£210K02/210.46 mi12, Buttery Road, Smethwick, West Midlands B67 7NS3
£170K10/230.47 mi10, Lee Gardens, Smethwick, West Midlands B67 7HP3
£241K03/230.49 mi2, Frank Road, Smethwick, West Midlands B67 7NR3
£220K06/210.49 mi222, Londonderry Lane, Smethwick, West Midlands B67 7EN3
£170K04/230.49 mi188, Londonderry Lane, Smethwick, West Midlands B67 7EN3
£230K06/230.49 mi232, Londonderry Lane, Smethwick, West Midlands B67 7EN3
£120K04/210.5 mi61, Crosswells Road, Oldbury, West Midlands B68 8HB3
£151.5K01/210.5 mi155, Londonderry Lane, Smethwick, West Midlands B67 7EL3

Local Rents

13 rents from £700/mo to £1.3K/mo, average is £1.2K/mo.

RentDateDistanceAddressBeds 
£1,15012/240.13 miSt Johns Road, Oldbury, West Midlands3
£1,20004/250.27 mi-3
£1,20012/240.35 miShirley Road, Oldbury3
£1,25004/250.41 mi-3
£1,29501/250.46 mi-3
£1,30012/240.48 miLondonderry Lane, Smethwick3
£1,10012/240.51 miDefford Drive, OLDBURY3
£70001/250.56 mi-3
£1,15002/240.57 mi-3
£1,27512/240.59 miBowden Road, Smethwick, West Midlands, B673
£90012/240.59 miBrisbane Road, Smethwick, B67 7AR3
£1,00011/240.6 mi-3
£1,30004/250.61 mi-3

Local Area Statistics

Population in B68

30,924

Population in Oldbury

59,935

Town centre distance

1.13 miles away

Nearest school

0.30 miles away

Nearest train station

0.48 miles away

 

 

Rental growth (12m)

+7%

Sales demand

Seller's market

Capital growth (5yrs)

+49%

Property History

Listed for £240,000

October 17, 2024

Floor Plans

Description

  • SEMI DETACHED HOUSE WITH THREE BEDROOMS +
  • EXTENDED KITCHEN DINER AND EXTENDED THROUGH LIVING ROOM +
  • GROUND FLOOR BATHROOM & W.C +
  • GOOD SIZED GARDEN +
  • IN NEED OF SOME MODERNISATION AND IMPROVEMENT IN PLACES +
  • NO UPWARD CHAIN +

An extended semi detached house with three bedrooms and ground floor bathroom. The property benefits from an extended kitchen/diner and extended through living room. The property is in need of some general modernisation and improvement but offers potential.

Enclosed porch, reception hall, w.c., ground floor bathroom, extended living room, extended kitchen/diner, utility/lobby, landing, three bedrooms. Gas boiler serving radiators, double glazing to windows where specified. Rear garden, off road parking.

ENCLOSED PORCH (FRONT):
Double glazed door and double glazed windows. Door opening onto:

RECEPTION HALL (INNER):
Panelled radiator, staircase off to first floor. Doors off.

W.C. (SIDE):
Double glazed window, panel radiator, w.c. with low level flush.

GROUND FLOOR BATHROOM (SIDE):
Double glazed window, panel radiator, corner bath, pedestal wash hand basin, wall mounted storage cupboard, built in storage with shelving, strip light to ceiling.

EXTENDED LIVING ROOM (FRONT TO REAR): 3.55m narrowing to 3.22m x 6.97m max.
Double glazed patio door, double glazed window, two panel radiators, gas fire.

EXTENDED 'L' SHAPED KITCHEN/DINER: 4.48m x 2.21m plus 1.55m x 2.26m max.
Panel radiator, double glazed window to side and rear, wall mounted "Baxi" boiler, breakfast bar, single bowl double drainer stainless steel sink, cooker, cooker hood, base units with cupboards and drawers, worktops, wall mounted storage cupboards at high level. Door opening onto:

UTILITY/LOBBY (REAR):
Plumbing for washing machine. Double glazed door onto rear garden.

Staircase from ground floor reception hall leading to first floor:

LANDING (INNER):
Double glazed window to rear, access to roof space.

BEDROOM ONE (REAR): 3.66m x 3.88m
Double glazed window, panel radiator, storage cupboard opening off over staircase.

BEDROOM TWO (FRONT): 3.25m min. (3.44m max.) x 2.75m plus door recess
Double glazed window, panel radiator, fitted wardrobes.

BEDROOM THREE (REAR): 2.47m x 2.64m
Double glazed window, panel radiator.

Outside:

GOOD SIZED REAR GARDEN:
Lawn, garden store, greenhouse, gate giving access from garden to front.

COUNCIL TAX BAND B

TENURE
We are verbally advised that the property is freehold. The Agent has not checked the legal documents to verify the freehold status of the property. The buyer is advised to obtain verification from their Solicitor or Surveyor.

SERVICES
The Agents have not tested any apparatus, equipment, fixtures, fittings or services and so cannot verify they are in working order or fit for their purpose. The buyer is advised to obtain verification from their Solicitor or Surveyor.

FIXTURES AND FITTINGS
All items unless specifically referred to in these sales particulars are expressly excluded from the proposed sale. Carpets as fitted are included in the sale, curtains and certain other items may be taken at a valuation to be agreed.

Money Laundering Regulations –
In order to comply with Money Laundering Regulations, all prospective purchasers are required to provide the following - 1. Satisfactory photographic identification. 2. Proof of address/residency. 3. Verification of the source of purchase funds including bank statements for deposits in order to purchase and copy of mortgage agreement in principle from the appropriate lender. In the absence of being able to provide appropriate physical copies of the above, Scriven & Co reserves the right to obtain electronic verification of identity.
Extra services -
By law, the agent must tell the client if the agent or any connected person intends to earn any commission or any other fees from offering or referring other services to the client or buyer. If the agent or any connected person earns money from any of these services or referrals the agent or the connected person would keep this commission or fee. Part of the payment for these extra services will be paid to the agent as a result of the referral.
Scriven & Co offers the following services and has the following referral arrangements in place:
Scriven & Co routinely refers sellers (and buyers) to Infinity Financial Advice. It is the clients’ or buyers’ decision whether to choose to deal with Infinity Financial Advice. Should the client or a buyer decide to use Infinity Financial Advice the client or buyer should know that Scriven & Co receive a payment from Infinity Financial Advice equating on average to a figure in the order of £200 per referral.
Scriven & Co routinely refers sellers (and buyers) to certain firms of solicitors/conveyancers. It is the clients’ or buyers’ decision whether to choose to deal with any of the referral companies. Should the client or a buyer decide to use any of these companies the client or buyer should know that Scriven & Co receive a payment from these companies equating to a figure in the order of £100-£200 per referral. We are informed that the solicitors/conveyancers are happy to pay this referral fee to ourselves as it significantly reduces the marketing costs that they have to allocate to sourcing new business. The referral fee is NOT added to the conveyancing charges that would ordinarily be quoted.
The agent routinely refers sellers (and buyers) to Warren’s removals and storage. It is the clients’ or buyers’ decision whether to choose to deal with Warren’s removals and storage. Should the client or a buyer decide to use Warren’s removals and storage the client or a buyer should know that the agent receives a referral fee to the value of £50 from them for recommending a client or buyer to them.

Agent Details

Scriven & Co, Quinton

0121 387 6435

Next Steps?

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