2 Bed Bungalow, Refurb/BRRR, Blackpool, FY2 0BB, £130,000

Crofton Avenue, Bispham, Blackpool, Lancashire, FY2 0BB - 6 months ago

Sold STC

Refurb/BRRR

ROI: 3%

~59 m²

+12 photos

ValuationOvervalued

Sold Prices	£85K - £305K
Sold Prices/m²	£1.1K/m² - £3.6K/m²

Square Metres	~58.50 m²
Price/m²	£2.2K/m²
Value Estimate	£100,300£100,300

End Value (After Refurb)	£115,000£115,000

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£32,500£32,500
Stamp Duty & Legal Fees	£7,700£7,700
Refurb Costs	£23,903£23,903
Bridging Loan Interest	£3,413£3,413
Total Cash In	£69,266£69,266

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£115,000£115,000
Mortgage (After Refinance)	£86,250£86,250
Mortgage LTV	75%75%
Cash Left In	£69,266£69,266
Equity	£28,750£28,750
Rent Range	£530 - £900£530 - £900
Rent Estimate	£723
Running Costs/mo	£524£524
Cashflow/mo	£199£199
Cashflow/yr	£2,388£2,388
ROI	3%3%
Gross Yield	7%7%

Local Sold Prices

50 sold prices from £85K to £305K, average is £159.5K. £1.1K/m² to £3.6K/m², average is £2.2K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£139.3K	06/21	0.06 mi	3, Codale Avenue, Blackpool FY2 0BA	£2,532	55	2	Semi-Detached House
£115K	04/21	0.06 mi	7, Codale Avenue, Bispham, Blackpool FY2 0BA	£1,885	61	2	Semi-Detached House
£114K	06/23	0.1 mi	12, Blackpool Road, Bispham, Blackpool FY2 0HR	£1,390	82	2	Semi-Detached House
£115K	06/23	0.1 mi	6, Blackpool Road, Bispham, Blackpool FY2 0HR	£1,474	78	2	Terraced House
£177.5K	12/22	0.18 mi	12, Fairfax Avenue, Bispham, Blackpool FY2 0DA	£3,327	53	2	Semi-Detached House
£107K	11/20	0.2 mi	42, Blackpool Road, Blackpool FY2 0HT	£1,726	62	2	Semi-Detached House
£115K	08/21	0.2 mi	82, Ashfield Road, Blackpool FY2 0DJ	£1,691	68	2	Terraced House
£85K	11/21	0.2 mi	20, Ashfield Road, Blackpool FY2 0DJ	-	-	2	Semi-Detached House
£98K	07/23	0.2 mi	26, Ashfield Road, Bispham, Blackpool FY2 0DJ	£1,690	58	2	Semi-Detached House
£255K	09/21	0.23 mi	6, Village Way, Bispham, Blackpool FY2 0AH	£2,414	106	2	Detached House
£195K	12/22	0.24 mi	1, Fairfax Avenue, Bispham, Blackpool FY2 0BY	£2,191	89	2	Semi-Detached House
£158K	06/23	0.24 mi	28, Fairfax Avenue, Bispham, Blackpool FY2 0DA	-	-	2	Semi-Detached House
£250K	06/22	0.26 mi	592, Devonshire Road, Bispham, Blackpool FY2 0JU	£2,976	84	2	Detached House
£120K	06/23	0.27 mi	2, Upwood Close, Bispham, Blackpool FY2 0EX	-	-	2	Semi-Detached House
£175K	06/23	0.28 mi	129, Ashfield Road, Bispham, Blackpool FY2 0BU	£2,273	77	2	Semi-Detached House
£112.5K	11/20	0.29 mi	42, Longford Avenue, Blackpool FY2 0BN	£1,974	57	2	Semi-Detached House
£100K	06/21	0.29 mi	14, Epping Close, Bispham, Blackpool FY2 0BL	-	-	2	Semi-Detached House
£118K	05/21	0.3 mi	5, Silverdale, Bispham, Blackpool FY2 0DE	-	-	2	Semi-Detached House
£219.9K	11/21	0.32 mi	39, Glenfield Avenue, Blackpool FY2 0DB	-	-	2	Detached House
£125K	11/20	0.32 mi	2, Highcroft Avenue, Bispham, Blackpool FY2 0BJ	£2,119	59	2	Semi-Detached House
£180K	07/22	0.33 mi	16, Landseer Avenue, Bispham, Blackpool FY2 9EF	£2,250	80	2	Detached House
£250K	04/23	0.33 mi	546, Devonshire Road, Bispham, Blackpool FY2 0JT	-	-	2	Semi-Detached House
£175K	03/21	0.35 mi	16, Boston Avenue, Blackpool FY2 9BZ	£2,431	72	2	Detached House
£220K	12/22	0.35 mi	16, Boston Avenue, Blackpool FY2 9BZ	£3,056	72	2	Detached House
£145K	05/21	0.35 mi	12, Falkirk Avenue, Bispham, Blackpool FY2 9DD	-	-	2	Semi-Detached House
£205K	06/23	0.35 mi	12, Falkirk Avenue, Bispham, Blackpool FY2 9DD	-	-	2	Semi-Detached House
£258K	06/23	0.35 mi	35, Shirley Crescent, Bispham, Blackpool FY2 0AA	-	-	2	Semi-Detached House
£220K	01/23	0.36 mi	18, All Saints Road, Thornton-cleveleys, Blackpool FY5 3AL	-	-	2	Detached House
£230K	01/23	0.36 mi	5, Portway, Bispham, Blackpool FY2 0DF	£3,380	68	2	Semi-Detached House
£105K	02/21	0.36 mi	54, Bryning Avenue, Blackpool FY2 9LZ	£1,221	86	2	Semi-Detached House
£102K	07/23	0.36 mi	10, Lothian Place, Bispham, Blackpool FY2 0EZ	-	-	2	Semi-Detached House
£184.9K	12/22	0.37 mi	1, Glossop Close, Blackpool FY2 9DE	-	-	2	Semi-Detached House
£245K	07/22	0.39 mi	14, Salop Avenue, Bispham, Blackpool FY2 9NB	-	-	2	Detached House
£159K	05/21	0.39 mi	83, Everest Drive, Blackpool FY2 9DJ	£2,484	64	2	Semi-Detached House
£100K	07/23	0.4 mi	28, Portree Road, Bispham, Blackpool FY2 0DG	£1,316	76	2	Semi-Detached House
£219K	12/22	0.4 mi	65, Guildford Avenue, Blackpool FY2 0AB	£3,221	68	2	Semi-Detached House
£180K	12/20	0.4 mi	54, Guildford Avenue, Blackpool FY2 0AB	£1,748	103	2	Semi-Detached House
£215K	12/22	0.42 mi	44, Hanover Crescent, Bispham, Blackpool FY2 9DL	-	-	2	Semi-Detached House
£148K	11/20	0.42 mi	4, Hanover Crescent, Bispham, Blackpool FY2 9DL	£2,552	58	2	Semi-Detached House
£237.5K	05/21	0.43 mi	19, Duncan Avenue, Blackpool FY2 9DB	£2,862	83	2	Detached House
£145K	05/23	0.43 mi	55, Beaufort Avenue, Bispham, Blackpool FY2 9AT	£2,042	71	2	Semi-Detached House
£105.5K	02/21	0.44 mi	10, Glendale Close, Blackpool FY2 0BS	£1,077	98	2	Semi-Detached House
£110K	01/21	0.44 mi	17, Glendale Close, Blackpool FY2 0BS	-	-	2	Semi-Detached House
£235K	08/23	0.46 mi	3, Lanark Avenue, Bispham, Blackpool FY2 9DN	£3,013	78	2	Semi-Detached House
£305K	10/22	0.47 mi	683, Devonshire Road, Blackpool FY2 0AE	£3,050	100	2	Detached House
£159.9K	11/21	0.5 mi	20, Montpelier Avenue, Blackpool FY2 9AE	£1,568	102	2	Semi-Detached House
£186K	01/21	0.5 mi	2a, Oakland Avenue, Thornton-cleveleys, Blackpool FY5 1RX	£2,548	73	2	Detached House
£235K	10/21	0.51 mi	776, Devonshire Road, Blackpool FY2 0AG	£3,561	66	2	Detached House
£125K	10/22	0.52 mi	121, Cavendish Road, Bispham, Blackpool FY2 9NJ	£1,471	85	2	Terraced House
£122.5K	08/23	0.53 mi	24, Kelvin Road, Thornton-cleveleys, Blackpool FY5 3AF	£2,188	56	2	Semi-Detached House

Local Rents

14 rents from £530/mo to £900/mo, average is £725/mo.

Rent	Date	Distance	Address	Beds	Type
£900	04/24	0.06 mi	-	2	Bungalow
£850	04/24	0.06 mi	-	2	Bungalow
£825	02/25	0.35 mi	-	2	Bungalow
£695	04/24	0.39 mi	Munster Avenue, Blackpool, FY2 0HG	2	Semi-Detached House
£650	04/24	0.41 mi	Sandhurst Avenue, Blackpool, Lancashire, FY2	2	Flat
£625	04/24	0.41 mi	Sandhurst Avenue, FY2	2	Flat
£750	04/24	0.5 mi	4 Haddon Road, Blackpool, Blackpool	2	Flat
£750	04/24	0.5 mi	4 Haddon Road, Blackpool, Blackpool	2	Flat
£530	04/24	0.5 mi	Haddon Road, Blackpool, Lancashire, FY2	2	Flat
£595	04/24	0.53 mi	Chatsworth Avenue, FY2	2	Flat
£825	04/24	0.57 mi	Kelvin Road, Thornton-Cleveleys, FY5	2	Bungalow
£825	12/24	0.57 mi	-	2	Bungalow
£595	04/24	0.59 mi	Kincraig Place, Thornton-Cleveleys, Lancashire, FY2	2	Flat
£700	04/24	0.62 mi	-	2	Flat

Local Area Statistics

Population in FY2	24,58924,589
Population in Blackpool	133,713133,713
Town centre distance	2.73 miles away2.73 miles away
Nearest school	0.10 miles away0.10 miles away
Nearest train station	1.27 miles away1.27 miles away

Rental demand	Balanced marketBalanced market
Rental growth (12m)	+50%+50%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+18%+18%

Property History

Listed for £130,000

October 22, 2024

Floor Plans

Description

The Ideal Investment Buy! +
Two Bedroom Semi Detached True Bungalow +
Lounge with Diner +
Kitchen Through to Conservatory +
Off Street Parking and Front Garden +
Uninterrupted Views To The Rear +
Great Location for Secondary Schools +
Please Call The Office To Arrange a Viewing Now! +

Introducing Crofton Avenue! This two bedroom semi-detached true bungalow is the perfect investment property for those wanting a renovation job with the added luxury of having uninterrupted views to the rear!

On internal inspection the property comprises of a great sized lounge with dining room, the kitchen space leading through to conservatory and two bedrooms and three piece bathroom.

The property benefits from off street parking and front and rear garden, gas central heating and double glazing. The property is situated in an ideal location in Bispham just a short distance from Cleveleys and Blackpool giving you the best of both for local amenities.

Please call the office now to arrange a viewing!