3 Bed Terraced House, Refurb/BRRR, Wolverhampton, WV3 0AJ, £115,000

119 Owen Road, Wolverhampton, WV3 0AJ - 4 views - 5 months ago

Auction
Refurb/BRRR
ROI: 8%
86 m²
+18 photos

ValuationFair Value

Sold Prices£47K - £350K
Sold Prices/m²£365/m² - £3.9K/m²

 

 

Square Metres

86 m²
Price/m²£1.3K/m²

Value Estimate

£116,150

 

 

End Value (After Refurb)

£127,692

Uplift in Value

+11%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£28,750

Stamp Duty & Legal Fees

£6,950

Refurb Costs

£34,030

Bridging Loan Interest

£3,019

Total Cash In

£74,499

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£127,692

Mortgage (After Refinance)

£95,769

Mortgage LTV

75%

Cash Released

£9,519

Cash Left In

£64,980

Equity

£31,923

Rent Range

£775 - £2,700

Rent Estimate

£1,180

Running Costs/mo

£655

Cashflow/mo

£525

Cashflow/yr

£6,300

ROI

8%

Gross Yield

12%

Local Sold Prices

50 sold prices from £47K to £350K, average is £151K. £365/m² to £3.9K/m², average is £1.6K/m².

PriceDateDistanceAddressBeds 
£94.5K12/200.02 mi102, Owen Road, Penn Fields, Wolverhampton, West Midlands WV3 0AJ3
£150K06/210.02 mi124, Owen Road, Penn Fields, Wolverhampton, West Midlands WV3 0AJ3
£170K05/230.04 mi63, Kimberley Street, Penn Fields, Wolverhampton, West Midlands WV3 0BP3
£153K07/210.08 mi55, Lennox Gardens, Wolverhampton, West Midlands WV3 0RR3
£158.2K10/230.11 mi215, Merridale Street West, Wolverhampton, West Midlands WV3 0RP3
£110K04/230.11 mi223, Merridale Street West, Wolverhampton, West Midlands WV3 0RP3
£47K12/200.12 mi32, Lime Street, Wolverhampton, West Midlands WV3 0EY3
£148K11/210.15 mi31, Manlove Street, Wolverhampton, West Midlands WV3 0HG3
£120K12/230.16 mi14, Aston Street, Wolverhampton, West Midlands WV3 0HY3
£90K09/210.16 mi139, Lime Street, Wolverhampton, West Midlands WV3 0HA3
£135K03/230.16 mi11, Cardiff Street, Wolverhampton, West Midlands WV3 0EZ3
£190K11/230.16 mi25, Rayleigh Road, Wolverhampton, West Midlands WV3 0AR3
£130K12/220.18 mi100, Rayleigh Road, Wolverhampton, West Midlands WV3 0AP3
£168.9K02/230.19 mi52, Rayleigh Road, Wolverhampton, West Midlands WV3 0AP3
£130K03/210.19 mi16, Rayleigh Road, Wolverhampton, West Midlands WV3 0AP3
£143K04/210.19 mi78, Rayleigh Road, Wolverhampton, West Midlands WV3 0AP3
£150K02/230.19 mi29, Fir Grove, Wolverhampton, West Midlands WV3 0UR3
£149K11/210.19 mi16, Fir Grove, Wolverhampton, West Midlands WV3 0UR3
£163K02/230.19 mi14, Fir Grove, Wolverhampton, West Midlands WV3 0UR3
£138.8K06/210.19 mi32, Laburnum Street, Wolverhampton, West Midlands WV3 0BT3
£190K01/210.21 mi42, Yew Street, Chapel Ash, Wolverhampton, West Midlands WV3 0DA3
£247K12/220.21 mi20, Yew Street, Chapel Ash, Wolverhampton, West Midlands WV3 0DA3
£165K12/220.21 mi7, Hornbeam Walk, St Marks, Wolverhampton, West Midlands WV3 0XF3
£152K05/210.24 mi71, Oak Street, Wolverhampton, West Midlands WV3 0AH3
£82K04/210.24 mi16, Fisher Street, Wolverhampton, West Midlands WV3 0LF3
£135K07/230.24 mi44, Burleigh Road, Penn Fields, Wolverhampton, West Midlands WV3 0HW3
£173K11/200.24 mi23, Merridale Gardens, Wolverhampton, West Midlands WV3 0UU3
£158.5K09/230.24 mi26, Norfolk Road, Wolverhampton, West Midlands WV3 0JA3
£224K11/220.26 mi133, Victoria Road, Bradmore, Wolverhampton, West Midlands WV3 7HA3
£170K06/210.27 mi33, Bamford Road, Wolverhampton, West Midlands WV3 0AT3
£125K03/210.28 mi13, Burleigh Road, Penn Fields, Wolverhampton, West Midlands WV3 0HJ3
£134K01/230.28 mi19, Burleigh Road, Penn Fields, Wolverhampton, West Midlands WV3 0HJ3
£165K11/200.29 mi6, Oak Street, Wolverhampton, West Midlands WV3 0AD3
£121.5K01/230.29 mi89, Norfolk Road, Wolverhampton, West Midlands WV3 0HZ3
£122K11/200.29 mi31, Bruford Road, Wolverhampton, West Midlands WV3 0AY3
£127.5K01/210.29 mi9, Bruford Road, Wolverhampton, West Midlands WV3 0AY3
£100K11/200.29 mi85, Bruford Road, Wolverhampton, West Midlands WV3 0AY3
£210K11/230.3 mi72, Jeffcock Road, Wolverhampton, West Midlands WV3 7AA3
£227K12/230.3 mi92, Jeffcock Road, Wolverhampton, West Midlands WV3 7AA3
£307.5K08/230.3 mi21, Oaks Crescent, Chapel Ash, Wolverhampton, West Midlands WV3 9SA3
£124K06/210.31 mi44, Bruford Road, Wolverhampton, West Midlands WV3 0BA3
£110K01/210.31 mi110, Bruford Road, Wolverhampton, West Midlands WV3 0BA3
£206K01/230.32 mi21, Skidmore Avenue, Wolverhampton, West Midlands WV3 7AN3
£195K11/220.33 mi51, Skidmore Avenue, Wolverhampton, West Midlands WV3 7AJ3
£205K09/230.34 mi30, Skidmore Avenue, Wolverhampton, West Midlands WV3 7AJ3
£190K04/240.34 mi85, Skidmore Avenue, Wolverhampton, West Midlands WV3 7AL3
£257.5K09/230.37 mi7, Gamesfield Green, Wolverhampton, West Midlands WV3 9RA3
£265.5K11/220.38 mi24, Glengarry Gardens, Wolverhampton, West Midlands WV3 9HX3
£350K05/230.38 mi21, Glengarry Gardens, Wolverhampton, West Midlands WV3 9HX3
£135K12/200.39 mi3, Claremont Mews, Wolverhampton, West Midlands WV3 0EB3

Local Rents

21 rents from £775/mo to £2.7K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£77511/240.04 miKimberley Street, Wolverhampton, WV33
£1,29504/250.04 mi-3
£87504/250.1 mi-3
£1,00011/240.1 miMerridale Street West, Wolverhampton, WV33
£1,00011/240.1 mi-3
£85001/250.11 mi-3
£1,20011/240.17 miMerridale Street West, Wolverhampton, West Midlands, WV33
£1,20011/240.17 miMerridale Street West, Wolverhampton, West Midlands, WV33
£1,05002/250.21 mi-3
£1,20011/240.23 mi-3
£1,20011/240.28 miOak Street, Merridale, Wolverhampton, WV33
£89511/240.29 miBruford Road, Wolverhampton, WV33
£1,20011/240.32 mi-3
£1,50011/240.32 mi-3
£1,10011/240.32 miMerridale Road, WOLVERHAMPTON3
£1,20001/250.35 mi-3
£1,20001/250.35 mi-3
£1,14511/240.42 mi-3
£1,10003/250.46 mi-3
£2,70011/240.48 mi-3
£1,05011/240.59 miStanford Road, Wolverhampton, West Midlands, WV23

Local Area Statistics

Population in WV3

29,663

Population in Wolverhampton

260,353

Town centre distance

0.93 miles away

Nearest school

0.10 miles away

Nearest train station

0.87 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+14%

Sales demand

Seller's market

Capital growth (5yrs)

+27%

Property History

Price changed to £115,000

January 28, 2025

Listed for £125,000

November 22, 2024

Description

  • Ideal Investment Opportunity +
  • VIEWINGS CAN BE BOOKED BY ARRANGEMENT, PLEASE CONTACT AGENT +
  • For Sale by Modern Auction – T & C’s apply +
  • Subject to Reserve Price +
  • Buyers fees apply +
  • The Modern Method of Auction +

VIEWINGS CAN BE BOOKED BY ARRANGEMENT, PLEASE CONTACT AGENT

This 3-bedroom terraced property is a fantastic opportunity for investors or homeowners seeking a renovation project. Located in a well-established area with excellent amenities and transport links, it offers great potential for improvement.

The ground floor includes a spacious living room and compact kitchen, with options for reconfiguration. Upstairs are three bedrooms, all ready for modernisation to maximise their potential. A small rear garden offers space for redesigning into a functional outdoor area.

While in need of full refurbishment, the property’s solid structure provides a strong foundation to add value. Situated in a growing area, it’s ideal for first-time buyers ready to renovate or investors expanding their portfolio. With time and creativity, it could become a comfortable home or a smart investment.

This property is for sale by Modern Method of Auction allowing the buyer and seller to complete within a 56 Day Reservation Period. Interested parties’ personal data will be shared with the Auctioneer (iamsold Ltd).
If considering a mortgage, inspect and consider the property carefully with your lender before bidding. A Buyer Information Pack is provided, which you must view before bidding. The buyer will pay £349 inc VAT for this pack.

The buyer signs a Reservation Agreement and makes payment of a Non-Refundable Reservation Fee of 4.5% of the purchase price inc VAT, subject to a minimum of £6,600 inc VAT. This Fee is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. The Fee is considered within calculationsfor stamp duty.

Services may be recommended by the Agent/Auctioneer in which they will receive payment from the service provider if the service is taken. Payment varies but will be no more than £450. These services are optional.

Agent Details

RE/MAX Property Hub, Devon

03300 536919

Next Steps?

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