2 Bed Flat, Single Let, Wolverhampton, WV3 0PB, £55,000

Graiseley Street, City Centre, Wolverhampton, West Midlands, WV3 0PB - 4 months ago

Leasehold
Auction
BTL
ROI: 30%
~68 m²
+8 photos

ValuationUndervalued

Sold Prices£50K - £155K
Sold Prices/m²£862/m² - £2.8K/m²

 

 

Square Metres

~68.11 m²
Price/m²£808/m²

Value Estimate

£66,000
BMV20%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£13,750

Stamp Duty & Legal Fees

£3,950

Total Cash In

£17,700

 

 

Cash Out

 

Rent Range

£749 - £4,000

Rent Estimate

£792

Running Costs/mo

£350

Cashflow/mo

£442

Cashflow/yr

£5,301

ROI

30%

Gross Yield

17%

Local Sold Prices

46 sold prices from £50K to £155K, average is £107.3K. £862/m² to £2.8K/m², average is £1.8K/m².

PriceDateDistanceAddressBeds 
£105K07/220.21 mi30, Market Square, Wolverhampton, West Midlands WV3 0NL2
£90K05/210.21 mi63, Market Square, Wolverhampton, West Midlands WV3 0NL2
£107K10/220.21 mi22, Market Square, Wolverhampton, West Midlands WV3 0NL2
£90K05/210.21 mi63, Market Square, Wolverhampton, West Midlands WV3 0NL2
£84K08/210.23 mi82, Worcester Street, Wolverhampton, West Midlands WV2 4LE2
£84K08/210.23 mi82, Worcester Street, Wolverhampton, West Midlands WV2 4LE2
£122K11/220.3 miFlat 1, Lawton Court, Oaks Crescent, Chapel Ash, Wolverhampton, West Midlands WV3 9SH2
£134K03/230.46 mi56, Compton Road, Wolverhampton, West Midlands WV3 9PH2
£140K05/230.46 mi68, Compton Road, Wolverhampton, West Midlands WV3 9PH2
£118K11/210.46 mi60a, Compton Road, Wolverhampton, West Midlands WV3 9PH2
£127K02/210.52 mi37, Lower Villiers Street, Wolverhampton, West Midlands WV2 4NA2
£90K02/230.55 miFlat 24, West Park Court, Connaught Road, Wolverhampton, West Midlands WV1 4SQ2
£128.5K06/210.56 mi159a, Penn Road, Wolverhampton, West Midlands WV3 0ED2
£107.5K11/220.59 miFlat 128, Merridale Court, Merridale Road, Wolverhampton, West Midlands WV3 9LF2
£96K08/210.61 miFlat 131, Merridale Court, Merridale Road, Wolverhampton, West Midlands WV3 9LF2
£105K02/210.61 miFlat 138, Merridale Court, Merridale Road, Wolverhampton, West Midlands WV3 9LF2
£116.5K09/220.61 miFlat 141, Merridale Court, Merridale Road, Wolverhampton, West Midlands WV3 9LF2
£112.5K06/210.62 miApartment 18, Tettenhall Gate, Haden Hill, Wolverhampton, West Midlands WV3 9PN2
£71.5K04/220.74 mi70d, Tettenhall Road, Wolverhampton, West Midlands WV1 4TB2
£100K06/230.74 mi17, Park Dale Court, Wolverhampton, West Midlands WV1 4SR2
£120K05/210.74 mi3, Park Dale Court, Wolverhampton, West Midlands WV1 4SR2
£155K07/230.74 mi8, Park Dale Court, Wolverhampton, West Midlands WV1 4SR2
£104.5K10/220.76 mi180, Albion Street, Wolverhampton, West Midlands WV1 3EJ2
£105K08/210.76 mi145, Albion Street, Horseley Fields, Wolverhampton, West Midlands WV1 3EJ2
£102K12/200.76 mi213, Albion Street, Horseley Fields, Wolverhampton, West Midlands WV1 3EJ2
£90K10/210.77 mi53, Albion Street, Horseley Fields, Wolverhampton, West Midlands WV1 3EB2
£131K02/230.78 mi86, Albion Street, Wolverhampton, West Midlands WV1 3EG2
£95K06/210.8 mi23, Stubbs Road, Penn Fields, Wolverhampton, West Midlands WV3 7DF2
£120K08/220.8 mi22a, Stubbs Road, Penn Fields, Wolverhampton, West Midlands WV3 7DF2
£132K08/220.81 mi92, Albion Street, Wolverhampton, West Midlands WV1 3EG2
£127K08/220.82 mi22, Stubbs Road, Penn Fields, Wolverhampton, West Midlands WV3 7DF2
£125K04/230.83 mi135, Albion Street, Wolverhampton, West Midlands WV1 3EG2
£120K03/240.83 mi95, Albion Street, Wolverhampton, West Midlands WV1 3EG2
£110K05/210.83 mi100, Albion Street, Horseley Fields, Wolverhampton, West Midlands WV1 3EG2
£103.5K12/200.83 mi110, Albion Street, Horseley Fields, Wolverhampton, West Midlands WV1 3EG2
£120K03/230.83 mi132, Albion Street, Wolverhampton, West Midlands WV1 3EG2
£125K07/230.86 mi18, Chequerfield Drive, Penn Fields, Wolverhampton, West Midlands WV3 7DH2
£50K06/210.91 mi14, Broad Gauge Way, Wolverhampton, West Midlands WV10 0AX2
£134K04/230.91 mi19, Broad Gauge Way, Wolverhampton, West Midlands WV10 0AX2
£85K07/210.91 mi1a, Newhampton Road West, Whitmore Reans, Wolverhampton, West Midlands WV6 0RY2
£120K10/220.92 mi170, Albion Street, Wolverhampton, West Midlands WV1 3EJ2
£114K08/220.92 mi182, Albion Street, Wolverhampton, West Midlands WV1 3EJ2
£93K10/220.95 miFlat 2, Parkhall Gardens, Rosemary Avenue, Wolverhampton, West Midlands WV4 5BN2
£62K04/210.96 mi28, Banstead Close, Wolverhampton, West Midlands WV2 2QY2
£84K02/220.97 mi5, Tolworth Gardens, Wolverhampton, West Midlands WV2 2QX2
£68K04/211 mi128, Goldthorn Hill, Wolverhampton, West Midlands WV2 3HU2

Local Rents

41 rents from £749/mo to £4K/mo, average is £950/mo.

RentDateDistanceAddressBeds 
£79511/240.01 miGraiseley Street, Penn Fields2
£89512/240.2 mi-2
£1,25011/240.21 mi-2
£97511/240.23 miChapel Ash, Wolverhampton, West Midlands, WV32
£1,10011/240.23 mi-2
£75002/250.25 mi-2
£87503/250.27 mi-2
£95011/240.27 mi-2
£95002/250.28 mi-2
£85011/240.29 miPennant Court, Wolverhampton, WV32
£1,23803/250.32 mi-2
£87511/240.34 miLea Road, Wolverhampton2
£1,20011/240.37 mi-2
£1,10012/240.37 mi-2
£1,10001/250.37 mi-2
£84003/250.38 mi-2
£97511/240.39 miMerridale Road, Wolverhampton, West Midlands, WV32
£4,00011/240.41 mi-2
£1,50011/240.43 mi-2
£85011/240.45 miTettenhall Gate, Tettenhall Road, Wolverhampton2
£74911/240.47 mi-2
£85003/250.49 mi-2
£79902/250.52 mi-2
£85011/240.53 miHazara House, Wolverhampton2
£85002/250.54 mi-2
£1,15011/240.55 mi-2
£90011/240.55 mi-2
£1,00002/250.55 mi-2
£1,59011/240.56 mi-2
£1,25010/240.56 mi-2
£96511/240.56 mi33 Princess Street, Wolverhampton2
£80011/240.57 miHaden Hill, Wolverhampton2
£99511/240.57 miHaden Hill, Wolverhampton2
£87511/240.57 miHaden Hill, WOLVERHAMPTON2
£82511/240.57 miTettenhall Gate, Haden Hill, Wolverhampton2
£4,00011/240.59 mi-2
£4,00011/240.59 mi-2
£1,35011/240.6 mi-2
£1,35002/240.6 mi-2
£79511/240.61 miMerridale Road, Wolverhampton, WV32
£92511/240.61 miHaden Hill, Wolverhampton2

Local Area Statistics

Population in WV3

29,663

Population in Wolverhampton

260,353

Town centre distance

1.21 miles away

Nearest school

0.20 miles away

Nearest train station

0.51 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 £55,000

March 21, 2025

Price changed to £65,000

February 1, 2025

Listed for £110,000

November 25, 2024

Floor Plans

Description

  • First Floor Flat +
  • Secure Communal Entry For Residents +
  • Walking Distance To Wolverhampton City Centre +
  • Two Bedrooms - Both Accomodating Double Beds +
  • Bathroom & Kitchen +
  • Balcony Overlooking Communal Grounds +
  • 125 Years Lease From 2020 +
  • Wolverhampton Homes £10 A Year Ground Rent With A Current Annual Service Charge +

For Sale by MODERN METHOD OF AUCTION, Starting Bid £55,000 plus Reservation Fee.

A first floor apartment offering spacious living throughout and within close proximity to the City Centre.

Situated in a secure development offering easy access to Wolverhampton City Centre a viewing is highly recommended to appreciate the central location of this apartment.

Internally the property benefits from entrance hall, living room with sliding door opening onto a balcony, separate kitchen with space for appliances, TWO bedrooms both accommodating double beds and a bathroom.

Externally there is a secure intercom gated community with personal access to the courtyard and property is gained by an electronic key fob, guests and parcels are admitted by telephone and private switch.

Located only a short walk to the City Centre, just off the A4150, great commuting/transport links are close by and Wolverhampton University with a local supermarket store also only a short walk away.

The property is situated central to the Molineux Football Stadium, Wolverhampton Grammar School, West Park Rehabilitation Hospital, Central Baths & Fitness Centre and the West Park. There are good bus links to Wolverhampton City Centre, Rail and Metro Stations with further links to surrounding towns and villages.

This property is for sale by The West Midlands Property Auction, powered by iam-sold Ltd.

Agent Notes:
Agent has been made aware of the following charges:
Ground Rent £10 pcm
Service Charge £993.88 per annum

Lease Start Date - 26th October 2020
Lease Term - 125 years from and including 26th October 2020
Time Remaining 120 years

Mobile coverage from all four major networks
Ultrafast Full Fibre Broadband
Mains Electricity, Water & Drainage are all connected. Heating is via Electric Panel/Storage Heaters.

*Results provided by Ofcom and correct at time of listing*

This property is for sale by the Modern Method of Auction, meaning the buyer and seller are to Complete within 56 days (the "Reservation Period"). Interested parties personal data will be shared with the Auctioneer (iamsold).
If considering buying with a mortgage, inspect and consider the property carefully with your lender before bidding.
A Buyer Information Pack is provided. The winning bidder will pay £300.00 including VAT for this pack which you must view before bidding.
The buyer signs a Reservation Agreement and makes payment of a non-refundable Reservation Fee of 4.50% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. This is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. This is considered within calculations for Stamp Duty Land Tax.
Services may be recommended by the Agent or Auctioneer in which they will receive payment from the service provider if the service is taken. Payment varies but will be no more than £450.00. These services are optional.

Agent Details

D B Roberts & Partners, Wolverhampton

01902 943715

Next Steps?

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