3 Bed Terraced House, Refurb/BRRR, Worcester, WR6 6JY, £600,000

Martley Road, Great Witley, Worcester, WR6 6JY - 1 views - 5 months ago

Refurb/BRRR
~93 m²
+40 photos

ValuationOvervalued

Sold Prices£220K - £570K
Sold Prices/m²£1.9K/m² - £6.7K/m²

 

 

Square Metres

~93 m²
Price/m²£6.5K/m²

Value Estimate

£278,609

 

 

End Value (After Refurb)

£550,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£150,000

Stamp Duty & Legal Fees

£36,700

Refurb Costs

£36,600

Bridging Loan Interest

£15,750

Total Cash In

£240,800

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£550,000

Mortgage (After Refinance)

£412,500

Mortgage LTV

75%

Cash Left In

£240,800

Equity

£137,500

Rent Range

£850 - £2,500

Rent Estimate

£1,235

Running Costs/mo

£1,986

Cashflow/mo

£-751

Cashflow/yr

£-9,009

Gross Yield

2%

Local Sold Prices

23 sold prices from £220K to £570K, average is £345K. £1.9K/m² to £6.7K/m², average is £3K/m².

PriceDateDistanceAddressBeds 
£297K09/221.23 mi14, The Bungalows, Shelsley Beauchamp, Worcester, Worcestershire WR6 6RD3
£375K12/201.4 mi19, Fountain Court, Great Witley, Worcester, Worcestershire WR6 6HW3
£253K07/211.42 mi22, The Glebe, Great Witley, Worcester, Worcestershire WR6 6JR3
£280K03/241.42 mi30, The Glebe, Great Witley, Worcester, Worcestershire WR6 6JR3
£243K03/211.42 mi33, The Glebe, Great Witley, Worcester, Worcestershire WR6 6JR3
£295K02/211.42 mi21, The Glebe, Great Witley, Worcester, Worcestershire WR6 6JR3
£330K01/231.42 mi21, The Glebe, Great Witley, Worcester, Worcestershire WR6 6JR3
£450K09/231.52 mi3, Stourport Road, Great Witley, Worcester, Worcestershire WR6 6JP3
£450K01/211.75 miWestmead, Bank Road, Little Witley, Worcester, Worcestershire WR6 6LS3
£430K04/211.8 miCarn Brae, Church Lane, Little Witley, Worcester, Worcestershire WR6 6LP3
£220K02/231.89 miYew Tree Cottage, Worcester Road, Great Witley, Worcester, Worcestershire WR6 6HX3
£350K01/222.05 mi4, Well Lane, Little Witley, Worcester, Worcestershire WR6 6LN3
£355K06/212.35 mi1, Maple Cottages, Martley, Worcester, Worcestershire WR6 6QA3
£372.5K03/212.42 miOrchard View, The Common, Abberley, Worcester, Worcestershire WR6 6AY3
£460K05/212.52 miThe Old Barn, The Village, Abberley, Worcester, Worcestershire WR6 6BN3
£250K07/212.52 miThe Old Forge, The Village, Abberley, Worcester, Worcestershire WR6 6BN3
£400K01/242.52 miThe Old Barn, The Village, Abberley, Worcester, Worcestershire WR6 6BN3
£410K02/232.52 miJury Lodge, Jury Lane, Martley, Worcester, Worcestershire WR6 6PE3
£570K01/232.82 miAnvil House, 17, Forge Meadows, Clifton On Teme, Worcester, Worcestershire WR6 6TZ3
£245K07/212.83 mi6, Queens Estate, Wichenford, Worcester, Worcestershire WR6 6YJ3
£280K05/212.87 mi42, The Village, Clifton On Teme, Worcester, Worcestershire WR6 6DH3
£330K06/242.94 mi11, Kenelm Road, Clifton On Teme, Worcester, Worcestershire WR6 6DW3
£345K06/212.98 mi38, Manor Road, Clifton On Teme, Worcester, Worcestershire WR6 6DP3

Local Rents

7 rents from £850/mo to £2.5K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£89511/240.97 miHillside, Martley2
£1,10011/241.55 miOld Hundred House Mews, Great Witley, WORCESTER2
£1,10011/241.56 miWorcester Road, Great Witley, WORCESTER2
£1,10011/241.56 miWorcester Road, Great Witley, WORCESTER2
£1,10011/241.56 miWorcester Road, Great Witley, WORCESTER2
£85011/241.75 miHillhampton, Great Witley1
£2,50011/241.82 miNear Great Witley5

Local Area Statistics

Population in WR6

12,214

Population in Worcester

142,140

Town centre distance

8.38 miles away

Nearest school

1.30 miles away

Nearest train station

7.39 miles away

 

 

Rental growth (12m)

+35%

Sales demand

Balanced market

Capital growth (5yrs)

+38%

Property History

Listed for £600,000

November 2, 2024

Floor Plans

Description

  • Three bedroom detached black and white cottage with detached double garage +
  • In need of modernisation +
  • Circa 1.41 acres +

A characterful three bedroom black and white detached cottage with separate double garage and proposed annex over, circa 1.4 acres with adjoining land.

Location:

Local amenities to include a village shop and Post Office, village hall and Doctor’s Surgery, located in Great Witley. Surrounding villages such as Martley, Abberley and Stanford Bridge offer further amenities such as a butcher and farm shop, and a variety of public houses with many an option for countryside walks, horse riding and other country pursuits. Approximately 11 miles away is the historic Cathedral City of Worcester offering further extensive amenities including hospitals, bars, restaurants, and cafés, as well as cultural and sporting venues.

Worcester (11 miles), Hereford (26 miles), Birmingham (30 miles), Cheltenham (35 miles). All miles are approximate.

Education:

There is a high quality of schooling close by, in both the public and private sectors, including the catchment schools of Great Witley Church of England Primary School and the highly regarded Chantry High School. In the independent sector, there is the Royal Worcester Grammar School and Kings School Worcester.

Accommodation:

Entrance porch way, hallway, w/c, kitchen dining area, sitting room leading into snug, three bedrooms, bathroom, separate double garage with separate entrance to a proposed one bedroom annex.

Ground floor accommodation:

As soon as you enter the cottage you get a lovely sense of the cosy charm on offer throughout, with an abundance of wall and ceiling beams and delightful countryside views. In need of modernisation.
The hallway has doors leading to a w/c, kitchen and dining area and large sitting room with log burning effect stove via LPG fuel. This room leads into a snug area.

First Floor accommodation:
The landing leads to all three bedrooms and bathroom. All three bedrooms have dual aspects with fitted wardrobes to bedroom one and two and a cupboard in bedroom three.

Outside:

The well established garden offers an array of trees, shrubs and plants with adjoining field.

The double garage was constructed in the 90's and benefits from a separate entrance with stairwell leading to a proposed one bedroom annex.

The land adjoining the property could be utilised for equestrian purposes.

Services:

Mains electricity, LPG heating and septic tank. Well water.

Important Note to Purchasers: Please refer to our Terms & Conditions of Business: conditions/
Administration Deposit:
RJ Country Homes requires a £1,000.00 deposit payable by the purchaser prior to issuing the Memorandum of Sale. This will be reimbursed at the point of completion. If you decide to withdraw from the purchase this deposit may not be reimbursed and the deposit collected either in part or in full and retained by RJ Country Homes to cover administration and re-marketing costs of the property.

RJ Country Homes has not tested any equipment, apparatus or integral appliances, equipment, fixtures and fittings or services and so cannot verify that they are in working order of fit for the purpose. We advise Buyers to obtain verification from their Solicitor or Surveyor. References to the Tenure of a Property are based on information supplied by the Seller. Please note that RJ Country Homes has not had sight of the title documents. A buyer is advised to obtain verification from their Solicitor. Items shown in photographs are NOT included unless specifically mentioned within the sales particulars. They may however be available by separate negotiation.

Agent Details

RJ Country Homes, Worcestershire

01905 975019

Next Steps?

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