2 Bed Terraced House, Refurb/BRRR, Taunton, TA1 1QN, £180,000

2 bedroom renovation project, Taunton, TA1 1QN - 5 months ago

Refurb/BRRR
ROI: 8%
~68 m²
+5 photos

ValuationOvervalued

Sold Prices£130K - £275K
Sold Prices/m²£1.5K/m² - £4.1K/m²

 

 

Square Metres

~68.11 m²
Price/m²£2.6K/m²

Value Estimate

£153,357

 

 

End Value (After Refurb)

£166,710

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£45,000

Stamp Duty & Legal Fees

£10,200

Refurb Costs

£27,698

Bridging Loan Interest

£4,725

Total Cash In

£89,373

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£166,710

Mortgage (After Refinance)

£125,032

Mortgage LTV

75%

Cash Left In

£89,373

Equity

£41,677

Rent Range

£850 - £2,700

Rent Estimate

£1,430

Running Costs/mo

£827

Cashflow/mo

£603

Cashflow/yr

£7,236

ROI

8%

Gross Yield

10%

Local Sold Prices

50 sold prices from £130K to £275K, average is £190K. £1.5K/m² to £4.1K/m², average is £2.4K/m².

PriceDateDistanceAddressBeds 
£243.9K10/230.06 mi81, Winchester Street, Taunton, Somerset TA1 1QE2
£215K12/220.11 mi16, Winters Field, Taunton, Somerset TA1 1PZ2
£183.5K03/210.12 mi60, St Augustine Street, Taunton, Somerset TA1 1QH2
£212K10/230.14 mi3, Priory Park, Taunton, Somerset TA1 1PX2
£165K02/210.14 mi15, Winters Field, Taunton, Somerset TA1 1PY2
£190K12/200.2 mi27, Winchester Street, Taunton, Somerset TA1 1QQ2
£139.9K08/210.25 mi13, Eastbourne Gate, Taunton, Somerset TA1 1SZ2
£130K03/240.25 mi2, Eastbourne Gate, Taunton, Somerset TA1 1SZ2
£212K08/230.26 mi51, Eastgate Gardens, Taunton, Somerset TA1 1RE2
£170K05/210.27 mi14, Eastbourne Road, Taunton, Somerset TA1 1ST2
£195K08/230.27 mi14, Eastbourne Road, Taunton, Somerset TA1 1ST2
£152K06/210.27 mi6, Eastbourne Road, Taunton, Somerset TA1 1ST2
£181K10/230.27 mi2, Gloucester Street, Taunton, Somerset TA1 1TA2
£150K12/200.27 mi44, Eastbourne Road, Taunton, Somerset TA1 1SU2
£176K11/200.27 mi42, Eastbourne Road, Taunton, Somerset TA1 1SU2
£183K04/210.27 mi37, Eastbourne Road, Taunton, Somerset TA1 1SU2
£210K09/230.3 mi25, Albemarle Road, Taunton, Somerset TA1 1BB2
£187.5K11/230.3 mi33, Albemarle Road, Taunton, Somerset TA1 1BB2
£150K04/210.31 mi17, Wilfred Road, Taunton, Somerset TA1 1TB2
£155K07/210.31 mi5, Whitehall, Taunton, Somerset TA1 1PG2
£135K09/230.31 mi10, Whitehall, Taunton, Somerset TA1 1PG2
£200K10/230.33 mi3, Plais Street, Taunton, Somerset TA2 7PR2
£243.5K06/230.34 mi18, Wood Street, Taunton, Somerset TA1 1UN2
£190K08/210.34 mi9, Wilfred Road, Taunton, Somerset TA1 1TB2
£210K09/230.35 mi119, Eaton Crescent, Taunton, Somerset TA2 7UF2
£190K07/210.35 mi107, Eaton Crescent, Taunton, Somerset TA2 7UF2
£235K03/230.36 mi12, Compton Close, Taunton, Somerset TA2 7UD2
£203K07/230.36 mi5, Compton Close, Taunton, Somerset TA2 7UD2
£182.5K12/200.36 mi30, Compton Close, Taunton, Somerset TA2 7UD2
£229K03/210.37 mi31, South Street, Taunton, Somerset TA1 3AA2
£255K06/230.37 mi31, South Street, Taunton, Somerset TA1 3AA2
£160K12/200.37 mi28, Staplegrove Road, Taunton, Somerset TA1 1DQ2
£245K03/240.37 mi6, Staplegrove Road, Taunton, Somerset TA1 1DQ2
£217.5K11/230.38 mi35, Greenbrook Terrace, Taunton, Somerset TA1 1UU2
£190K01/210.38 mi43, Greenbrook Terrace, Taunton, Somerset TA1 1UU2
£196K04/210.38 mi41, Greenbrook Terrace, Taunton, Somerset TA1 1UU2
£190K08/230.39 mi33, Mitre Court, Taunton, Somerset TA1 3ER2
£220K01/230.41 mi33, Eaton Crescent, Taunton, Somerset TA2 7UE2
£194K04/230.42 mi53, East Reach, Taunton, Somerset TA1 3EZ2
£241K06/230.42 mi13, Alfred Street, Taunton, Somerset TA1 3HU2
£160K11/200.42 mi1, Thomas Street, Taunton, Somerset TA2 6HB2
£275K01/230.43 mi4, Alma Street, Taunton, Somerset TA1 3AH2
£170K02/210.43 mi25, St Margarets Court, Taunton, Somerset TA1 2UD2
£165K11/200.44 mi3, Upper Wood Street, Taunton, Somerset TA1 1TZ2
£200K03/210.45 mi27, Thomas Street, Taunton, Somerset TA2 6HB2
£190K03/210.45 mi25, Thomas Street, Taunton, Somerset TA2 6HB2
£215K02/240.45 mi3, Gordon Road, Taunton, Somerset TA1 3AU2
£168K01/210.45 mi120, Lambrook Road, Taunton, Somerset TA1 2AD2
£210K06/210.46 mi2, Grove Terrace, Taunton, Somerset TA2 6HA2
£200K11/200.46 mi31, Portland Street, Taunton, Somerset TA1 1UZ2

Local Rents

38 rents from £850/mo to £2.7K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£85011/240.03 mi-2
£99509/240.06 miPriory Avenue, Taunton2
£95009/240.06 miTaunton2
£1,50009/240.1 mi-2
£1,70003/250.1 mi-2
£85009/240.13 miMiddle Street, Taunton, TA12
£92509/240.17 miThe Octagon, Taunton, Somerset, TA12
£1,55009/240.2 miCoal Orchard, TAUNTON2
£1,60009/240.21 miCoal Orchard, TAUNTON2
£1,10009/240.24 miFirepool View, TAUNTON2
£1,10003/250.25 mi-2
£1,20009/240.27 mi-2
£1,20012/240.27 mi-2
£1,20009/240.27 miGloucester Street, TAUNTON2
£95009/240.32 miEast Reach, Taunton2
£1,10009/240.33 mi-2
£1,00012/240.33 mi-2
£95003/250.34 mi-2
£1,20009/240.35 mi-2
£89509/240.42 mi-2
£1,10009/240.43 mi-2
£2,70009/240.44 mi-2
£2,70011/240.44 mi-2
£2,70002/250.44 mi-2
£2,70003/250.44 mi-2
£89509/240.46 miUpper Wood Street, Taunton, TA12
£2,70009/240.46 mi-2
£2,70012/240.46 mi-2
£2,70002/250.46 mi-2
£2,70003/250.46 mi-2
£1,10009/240.52 miRupert Street, Taunton TA12
£1,20009/240.52 mi-2
£90009/240.55 miMassingham Park, Taunton2
£90009/240.56 miNorth Taunton, Somerset2
£90009/240.56 miMassingham Park, Taunton2
£1,10009/240.56 miMassingham Park, TAUNTON2
£95009/240.56 miMassingham Park, Taunton2
£89509/240.56 miBelgrave Place, Taunton, TA22

Local Area Statistics

Population in TA1

39,265

Population in Taunton

85,088

Town centre distance

0.33 miles away

Nearest school

0.30 miles away

Nearest train station

0.32 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

-4%

Sales demand

Seller's market

Capital growth (5yrs)

+21%

Property History

Listed for £180,000

October 21, 2024

Floor Plans

Description

  • Two-bedroom property located just a short walk from the town centre. +
  • Ideal project for investors, developers, or buyers seeking to personalize their home. +
  • Full renovation required, with significant potential for transformation. +
  • Generously sized bedrooms with space for modern redesign. +
  • Cozy sitting room and separate dining room, perfect for entertaining. +
  • Spacious kitchen ready to be reimagined into a contemporary cooking area. +
  • Includes a utility room for added storage or laundry space. +
  • Ground floor WC and large family bathroom with room for a complete makeover. +
  • Enclosed rear garden with potential for landscaping or outdoor enhancements. +
  • Convenient street parking available right in front of the property. +

This two-bedroom property, just a short walk from the town centre, offers an incredible opportunity for those eager to create their dream home. While it requires full renovation, this house holds immense potential to become a truly stylish and comfortable living space, making it the perfect project for investors, developers, or buyers ready to make it their own. Inside, you'll find two generously sized bedrooms and a variety of versatile living areas, including a cozy sitting room and a separate dining room, ideal for hosting family and friends. The spacious kitchen area is ready to be reimagined into a modern, functional cooking space, complemented by a convenient utility room, perfect for additional storage or laundry needs. The property also features a ground floor WC and a large family bathroom, offering ample scope for a complete makeover to suit your tastes. Outside, the enclosed rear garden provides a private and secure space, ideal for transforming into a tranquil outdoor retreat with potential for landscaping or decking. With the added benefit of street parking available right in front of the property, (subject to the parking permits), this home combines practical features with an exciting chance to personalize every detail. With its excellent location and huge potential, this property is your blank canvas to design and create a home that perfectly fits your lifestyle. A little vision and effort can turn this house into a gem, offering both comfortable living and a solid investment. Please see floor plan for dimensions Directions: What3words ///faster.half.cases

Features

  • No Onward chain
  • Garden
  • Double Bedrooms
  • Fireplace

Roof type: Slate tiles.

Flooded in the last 5 years: No.

Construction materials used: Brick and block.

Water source: Direct mains water.

Electricity source: National Grid.

Sewerage arrangements: Standard UK domestic.

Heating Supply: Central heating (gas).

Agent Details

McKinlays Estate Agents, Taunton

01823 217397

Next Steps?

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