3 Bed Terraced House, Refurb/BRRR, Blackpool, FY1 5JZ, £55,000

Bela Grove, Blackpool, FY1 5JZ - 5 months ago

Under Offer
Auction
Refurb/BRRR
ROI: 9%
~93 m²
+5 photos

ValuationFair Value

Sold Prices£55K - £146K
Sold Prices/m²£611/m² - £1.6K/m²

 

 

Square Metres

~93 m²
Price/m²£591/m²

Value Estimate

£55,000

 

 

End Value (After Refurb)

£95,354

Uplift in Value

+73%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£13,750

Stamp Duty & Legal Fees

£3,950

Refurb Costs

£38,000

Bridging Loan Interest

£1,444

Total Cash In

£58,894

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£95,354

Mortgage (After Refinance)

£71,516

Mortgage LTV

75%

Cash Released

£30,266

Cash Left In

£28,628

Equity

£23,839

Rent Range

£575 - £2,000

Rent Estimate

£968

Running Costs/mo

£512

Cashflow/mo

£456

Cashflow/yr

£5,477

ROI

9%

Gross Yield

21%

Local Sold Prices

50 sold prices from £55K to £146K, average is £99.5K. £611/m² to £1.6K/m², average is £1.1K/m².

PriceDateDistanceAddressBeds 
£93K12/200.02 mi60, Queen Victoria Road, Blackpool FY1 5JX3
£140K06/230.03 mi36, Queen Victoria Road, Blackpool FY1 5JY3
£125K10/210.04 mi14, Bela Grove, Blackpool FY1 5JZ3
£88K07/210.05 mi5, Levens Grove, Blackpool FY1 5LA3
£120K07/210.06 mi70, Queen Victoria Road, Blackpool FY1 5JT3
£77K11/220.1 mi28, Rose Avenue, Blackpool FY1 5NU3
£124K12/200.13 mi52, Bela Grove, Blackpool FY1 5PR3
£124K12/200.13 mi52, Bela Grove, Blackpool FY1 5PR3
£75K12/200.13 mi26, Levens Grove, Blackpool FY1 5PP3
£88K02/230.13 mi17, Bela Grove, Blackpool FY1 5PR3
£105K11/210.14 mi109, Grasmere Road, Blackpool FY1 5NQ3
£99K06/210.14 mi99, Grasmere Road, Blackpool FY1 5NQ3
£118K03/230.14 mi109, Grasmere Road, Blackpool FY1 5NQ3
£80K01/230.14 mi27, Wyre Grove, Blackpool FY1 5PW3
£146K08/210.15 mi24, Durley Road, Blackpool FY1 6LX3
£95K01/210.15 mi10, Durley Road, Blackpool FY1 6LX3
£104K11/210.15 mi170, Grasmere Road, Blackpool FY1 5NG3
£95K11/210.15 mi9, Queen Victoria Road, Blackpool FY1 5LF3
£125K12/220.15 mi18, Chadfield Road, Blackpool FY1 5NS3
£110K02/230.16 mi5, Shetland Road, Blackpool FY1 6LP3
£97.5K03/210.16 mi18, Shetland Road, Blackpool FY1 6LP3
£105K01/230.16 mi11, Shetland Road, Blackpool FY1 6LP3
£98.5K06/230.17 mi3, Marina Avenue, Blackpool FY1 6QL3
£90K10/210.17 mi58, Grasmere Road, Blackpool FY1 5PQ3
£122K10/210.18 mi9, Falmouth Road, Blackpool FY1 6LH3
£108K02/230.19 mi18, Westmorland Avenue, Blackpool FY1 5LG3
£95K02/210.19 mi70, Condor Grove, Blackpool FY1 5LT3
£120K08/210.2 mi41, Thirsk Grove, Blackpool FY1 5NH3
£136K01/230.2 mi35, Thirsk Grove, Blackpool FY1 5NH3
£119K02/230.2 mi18, Thirsk Grove, Blackpool FY1 5NH3
£97.5K12/200.2 mi20, Dunelt Road, Blackpool FY1 6LS3
£135K06/230.2 mi44, Dunelt Road, Blackpool FY1 6LS3
£60K08/210.2 mi5, Henry Street, Blackpool FY1 5JG3
£99K01/210.2 mi55, Sharow Grove, Blackpool FY1 5NE3
£83K08/210.21 mi11, Hudson Road, Blackpool FY1 6LY3
£85K11/200.21 mi38, Hudson Road, Blackpool FY1 6LY3
£120K09/210.21 mi1, Hudson Road, Blackpool FY1 6LY3
£123K11/220.21 mi25, Sharow Grove, Blackpool FY1 5NE3
£80K11/200.22 mi63, Westfield Road, Blackpool FY1 6NX3
£55K02/210.22 mi70, Westfield Road, Blackpool FY1 6NX3
£127K11/220.23 mi31, Auburn Grove, Blackpool FY1 5NJ3
£82K06/230.24 mi18, Cunliffe Road, Blackpool FY1 6RZ3
£93.5K01/230.24 mi21, Cunliffe Road, Blackpool FY1 6RZ3
£100K01/230.24 mi86, Lune Grove, Blackpool FY1 5PH3
£98.5K07/210.24 mi21, Saville Road, Blackpool FY1 6JP3
£88K10/200.24 mi51, Shetland Road, Blackpool FY1 6LW3
£120K05/210.24 mi44, Shetland Road, Blackpool FY1 6LW3
£103K02/230.24 mi35, Shetland Road, Blackpool FY1 6LW3
£95K11/200.24 mi41, Shetland Road, Blackpool FY1 6LW3
£117.5K03/230.24 mi32, Shetland Road, Blackpool FY1 6LW3

Local Rents

42 rents from £575/mo to £2K/mo, average is £873/mo.

RentDateDistanceAddressBeds 
£79504/240.07 miAnsdell Road, Blackpool, Lancashire, FY15LX3
£1,10004/240.1 mi92 Grasmere Road3
£1,10005/240.11 mi-3
£82504/240.15 miWyre Grove, Blackpool3
£75001/250.16 mi-3
£95001/250.17 mi-3
£1,25004/240.2 miHudson Road, Blackpool, FY13
£1,25004/240.2 mi-3
£78004/240.26 mi-3
£85003/250.27 mi-3
£82504/240.27 miBoardman Avenue, Blackpool, FY1 6QE3
£1,20003/250.29 mi-3
£80005/240.3 miCunliffe Road, Great Marton, Blackpool, FY13
£75004/240.32 miCunliffe Road, Blackpool, FY1 6SD3
£89502/250.33 mi-3
£1,20012/240.35 mi-3
£95002/250.35 mi-3
£72504/240.35 miAnsdell Road, Blackpool3
£72504/240.35 miHarrison Street, Blackpool, Lancashire, FY13
£80004/240.35 miPark Road, Blackpool, FY1 5QN3
£77504/240.36 miErdington Road, Blackpool3
£1,10003/250.37 mi-3
£95004/240.38 miHarris Avenue, FY1 6NJ3
£85005/240.39 mi-3
£1,00012/240.42 mi-3
£80005/240.48 mi28 Gloucester Avenue3
£1,73302/250.5 mi-3
£1,10004/240.51 miPrincess Street3
£70004/240.53 miFlat 2, 16 Coop Street3
£2,00002/250.53 mi-3
£2,00002/250.53 mi-3
£95005/240.53 mi-3
£95005/240.53 miHaig Road, Blackpool, FY13
£57501/240.55 mi-3
£80005/240.56 mi-3
£80005/240.56 mi-3
£90001/250.56 mi-3
£82504/240.57 miBickerstaffe Street, Blackpool3
£65005/240.59 miShaw Road, Blackpool3
£90002/250.6 mi-3
£90005/240.61 mi57 Gainsborough Road, Blackpool. FY1 4DZ3
£72504/240.61 miLindsay Avenue, Blackpool3

Local Area Statistics

Population in FY1

33,505

Population in Blackpool

133,713

Town centre distance

1.51 miles away

Nearest school

0.10 miles away

Nearest train station

0.59 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+26%

Sales demand

Balanced market

Capital growth (5yrs)

+11%

Property History

Listed for £55,000

November 13, 2024

Description

  • Great Opportunity to Purchase This Three Bedroom terraced House in Blackpool +
  • Roughly a 20 Minute Walk to The Promenade, Now in Need of Modernisation Throughout +
  • Great First-Time Buy or Investment Lot, Council Tax Band A, EPC Rating(awaiting results) +

Great Opportunity to Purchase This Three Bedroom terraced House in Blackpool Roughly a 20 Minute Walk to The Promenade, Now in Need of Modernisation Throughout. Great First-Time Buy or Investment Lot, Council Tax Band A, EPC Rating(awaiting results)

Property Description
Situation & Description
Bela Road is a residential street near the town centre and a short walk from the seafront and promenade. There is an excellent selection of shopping and leisure facilities nearby and within easy walking distance of Blackpool South train station.

The property does require work internally to bring back to standard. An excellent opportunity to add your stamp to your home or to add to your portfolio.

Rental returns offer a 10% yield +

Accommodation:
Ground Floor:
Entrance Hall, Living Room, Dining Room and Kitchen

First Floor:
3 x Bedrooms and Bathroom

Outside:
There is a courtyard garden to the rear of the house.

Auction Details On How to Make an Offer/Bid
The client is open to pre-auction offers so please contact Rocket on for further information or follow the website for further information on how to make an online bid

Auction Details
The lot is to be sold by traditional online auction with an end date/time of *TBC*
An auction buyer`s fee of 3.6% (inc of VAT) subject to a minimum fee of £6,000 (inc of VAT) is payable in addition to the purchase price.

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Notice
Please note we have not tested any apparatus, fixtures, fittings, or services. Interested parties must undertake their own investigation into the working order of these items. All measurements are approximate and photographs provided for guidance only.

Agent Details

Christie King Estate Agents, Blackpool

01253 835352

Next Steps?

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