2 Bed Flat, Refurb/BRRR, Wigan, WN2 1HP £75,000

Marchbank, Aspull, Wigan, WN2 1HP - 5 views - a year ago

Sold STC

Leasehold

BTL

Refurb/BRRR

ROI: 3%

~68 m²

ValuationUndervalued

Sold Prices	£55K - £185K
Sold Prices/m²	£1.1K/m² - £2.8K/m²

Square Metres	~68.11 m²
Price/m²	£1.1K/m²
Value Estimate	£77,250£77,250
BMV	3%

End Value (After Refurb)	£135,349£135,349
Uplift in Value	+80%+80%

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£18,750£18,750
Stamp Duty & Legal Fees	£3,450£3,450
Refurb Costs	£28,828£28,828
Bridging Loan Interest	£1,969£1,969
Total Cash In	£54,747£54,747

Cash Out
Monetisation	FlipRefinance & RentFlip
Estimated Sale Price	£135,349£135,349
Agent Fees (1%)	£1,353£1,353
Bridging Loan	£56,250£56,250
Bridging Loan Interest	£1,969£1,969
Flip Profit	£22,998£22,998

Local Sold Prices

50 sold prices from £55K to £185K, average is £109K. £1.1K/m² to £2.8K/m², average is £2K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£90K	03/25	0.69 mi	24, Woodlands Hall, Bradshaw Street, Wigan WN1 3US	£1,216	74	2	Flat
£90K	03/25	0.69 mi	24, Woodlands Hall, Bradshaw Street, Wigan WN1 3US	-	-	2	Flat
£185K	05/25	0.74 mi	75, Bradshaw Street, Wigan WN1 3UZ	£2,256	82	2	Flat
£85K	05/24	0.91 mi	16, Hackworth Close, Wigan WN1 3JQ	£1,104	77	2	Flat
£55K	06/21	0.94 mi	9, Newton Close, Wigan, Greater Manchester WN1 2LH	-	-	2	Flat
£77K	02/25	1 mi	Monument Mansions, Flat A1, Wigan Lane, Wigan WN1 2LE	£1,974	39	2	Flat
£77K	02/25	1 mi	Flat A1, Monument Mansions, Wigan Lane, Wigan WN1 2LE	-	-	2	Flat
£102.5K	09/24	1.01 mi	Flat C4, Monument Mansions, Freckleton Street, Wigan WN1 2LE	-	-	2	Flat
£102.5K	09/24	1.01 mi	Monument Mansions, Flat C4, Freckleton Street, Wigan WN1 2LE	-	-	2	Flat
£79K	06/22	1.01 mi	C1, Monument Mansions, Wigan, Greater Manchester WN1 2LE	£1,701	46	2	Flat
£115K	05/22	1.04 mi	148, St Davids Crescent, Aspull, Wigan, Greater Manchester WN2 1ST	-	-	2	Flat
£85K	06/24	1.06 mi	14, Cross Yard, Wigan WN1 1XF	£1,932	44	2	Flat
£85K	06/24	1.06 mi	14, Cross Yard, Wigan WN1 1XF	-	-	2	Flat
£55K	03/24	1.11 mi	Northgate House, Apartment 6, Standishgate, Wigan WN1 1BP	-	-	2	Flat
£145K	11/24	1.21 mi	44, Apartment 1, Bolton Road, Wigan WN2 1XF	£2,843	51	2	Flat
£145K	11/24	1.21 mi	Apartment 1, 44, Bolton Road, Wigan WN2 1XF	-	-	2	Flat
£123.8K	10/23	1.22 mi	Apartment 3, 40, Bolton Road, Wigan WN2 1XF	£1,996	62	2	Flat
£123.8K	10/23	1.22 mi	Apartment 3, 40, Bolton Road, Wigan WN2 1XF	-	-	2	Flat
£123.8K	10/23	1.22 mi	40, Apartment 3, Bolton Road, Wigan WN2 1XF	£1,996	62	2	Flat
£95K	11/24	1.23 mi	48, St Marys Road, Aspull WN2 1SW	£1,827	52	2	Flat
£95K	11/24	1.23 mi	48, St Marys Road, Aspull WN2 1SW	-	-	2	Flat
£108K	01/23	1.26 mi	1, Pear Tree Court, Aspull, Wigan, Greater Manchester WN2 1RH	£1,999	54	2	Flat
£118K	06/24	1.27 mi	27, Pear Tree Court, Wigan WN2 1RH	£2,185	54	2	Flat
£118K	06/24	1.27 mi	27, Pear Tree Court, Wigan WN2 1RH	-	-	2	Flat
£110K	09/23	1.27 mi	3, Pear Tree Court, Aspull, Wigan, Greater Manchester WN2 1RH	£2,245	49	2	Flat
£133.9K	10/22	1.27 mi	5, Chelmsford Mews, Wigan, Greater Manchester WN1 2PZ	£1,914	70	2	Flat
£110K	09/23	1.28 mi	3, Pear Tree Court, Wigan WN2 1RH	£2,245	49	2	Flat
£145K	07/22	1.29 mi	34, Chelmsford Mews, Wigan, Greater Manchester WN1 2PZ	£2,231	65	2	Flat
£127K	06/21	1.29 mi	27, Chelmsford Mews, Wigan, Greater Manchester WN1 2PZ	£2,016	63	2	Flat
£138K	04/24	1.3 mi	24, Chelmsford Mews, Wigan WN1 2PZ	£2,156	64	2	Flat
£135K	04/25	1.31 mi	9, Gemini Court, Walkden Avenue, Wigan WN1 2JN	£2,109	64	2	Flat
£135K	04/25	1.31 mi	9, Gemini Court, Walkden Avenue, Wigan WN1 2JN	-	-	2	Flat
£136.5K	02/25	1.32 mi	Gemini Court, 22, Walkden Avenue, Wigan WN1 2JN	£2,133	64	2	Flat
£136.5K	02/25	1.32 mi	22, Gemini Court, Walkden Avenue, Wigan WN1 2JN	-	-	2	Flat
£105K	08/23	1.47 mi	7a, Park Road, Wigan, Greater Manchester WN1 1RY	£1,954	54	2	Flat
£125K	12/23	1.52 mi	The Parsonage, 18, Hoade Street, Wigan WN2 2PY	£2,232	56	2	Flat
£120K	07/25	1.53 mi	16, The Parsonage, Hoade Street, Wigan WN2 2PY	-	-	2	Flat
£118K	08/24	1.53 mi	8, The Parsonage, Hoade Street, Hindley WN2 2PY	£2,162	55	2	Flat
£118K	08/24	1.53 mi	8, The Parsonage, Hoade Street, Hindley WN2 2PY	-	-	2	Flat
£118K	08/24	1.53 mi	The Parsonage, 8, Hoade Street, Hindley WN2 2PY	£2,162	55	2	Flat
£115K	10/22	1.54 mi	Apartment 3, The Parsonage, Hoade Street, Hindley, Wigan, Greater Manchester WN2 2PY	-	-	2	Flat
£84K	07/23	1.67 mi	Millside, 20, Heritage Way, Wigan WN3 4BE	£1,500	56	2	Flat
£84K	07/23	1.67 mi	20, Millside, Heritage Way, Wigan WN3 4BE	-	-	2	Flat
£84K	07/23	1.67 mi	Apartment 20, Millside, Heritage Way, Wigan, Greater Manchester WN3 4BE	-	-	2	Flat
£74.8K	07/22	1.67 mi	94, Wharfside, Heritage Way, Wigan WN3 4AT	£1,377	54	2	Flat
£64K	11/22	1.67 mi	Wharfside, 57, Heritage Way, Wigan WN3 4AT	£1,143	56	2	Flat
£58.5K	04/25	1.67 mi	63, Wharfside, Heritage Way, Wigan WN3 4AT	£1,083	54	2	Flat
£71K	05/24	1.67 mi	108, Wharfside, Heritage Way, Wigan WN3 4AW	£1,183	60	2	Flat
£71K	05/24	1.67 mi	Wharfside, 108, Heritage Way, Wigan WN3 4AW	£1,183	60	2	Flat
£58.5K	04/25	1.67 mi	63, Wharfside, Heritage Way, Wigan WN3 4AT	-	-	2	Flat

Local Rents

25 rents from £485/mo to £895/mo, average is £770/mo.

Rent	Date	Distance	Address	Beds	Type
£775	11/24	0.02 mi	Dryton Walk, Aspull, Wigan	2	Detached House
£795	08/25	0.03 mi	Dryton Walk, Aspull	2	Semi-Detached House
£725	08/25	0.05 mi	Silvington Way, Whelley, Wigan, WN2 1HL	2	Room
£695	08/25	0.19 mi	Ashbourne Avenue, Whelley, WN2 1AF	2	Semi-Detached House
£550	07/25	0.19 mi	Ash Lane, Aspull, Wigan, WN2 1BT	2	Flat
£695	11/24	0.19 mi	Ash Lane, Aspull, Wigan, WN2 1BT	2	Flat
£750	06/25	0.19 mi	Ash Lane, Aspull, Wigan, WN2 1BT	2	Flat
£750	07/25	0.44 mi	Baclaw Close, Wigan, WN1	2	Semi-Detached House
£895	07/25	0.47 mi	Trecastell Close, Wigan, Greater Manchester, WN1	2	Semi-Detached House
£845	06/25	0.49 mi	Newman Street, Wigan, WN1	2	Terraced House
£795	06/25	0.49 mi	Newman Street, Wigan, WN1	2	Terraced House
£845	06/25	0.49 mi	-	2	Terraced House
£795	09/25	0.49 mi	-	2	Terraced House
£800	07/25	0.56 mi	Bradshaw Street, Wigan, WN1	2	Terraced House
£775	12/24	0.57 mi	-	2	Terraced House
£795	08/25	0.57 mi	Platt Lane, Scholes	2	Terraced House
£770	06/25	0.57 mi	-	2	Terraced House
£500	07/25	0.57 mi	Platt Lane, Whelley, Wigan, WN1 3JX	2	Terraced House
£825	07/25	0.57 mi	-	2	Semi-Detached House
£650	08/25	0.58 mi	Whelley, Whelley	2	Terraced House
£485	07/25	0.6 mi	7 Cumberland Street, Whelley, Wigan, WN1 3PT	2	Terraced House
£750	08/25	0.6 mi	Northumberland Street, Wigan, WN1 3PZ	2	Terraced House
£750	09/25	0.61 mi	Northumberland Street, Wigan, WN1 3PZ	2	Terraced House
£750	09/25	0.61 mi	Northumberland Street, Wigan, WN1 3PZ	2	Terraced House
£825	10/25	0.61 mi	Balcarres Avenue, Whelley, WN1 3UX	2	Bungalow

Local Area Statistics

Population in WN2	52,66152,661
Population in Wigan	214,929214,929
Town centre distance	1.88 miles away1.88 miles away
Nearest school	0.10 miles away0.10 miles away
Nearest train station	1.20 miles away1.20 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+16%+16%
Sales demand	Seller's marketSeller's market
Capital growth (5yrs)	+53%+53%

Property History

Listed for £75,000

November 26, 2024

Floor Plans

Description

Two Bedroom Ground Floor Flat +
Two Reception Rooms +
CHAIN FREE +
Great Location +
Private Garden +
Fabulous Investment Opportunity +

Now available for purchase, this ground floor flat is available with no onward chain.The property is a two bedroom flat, ideal as a buy to let, or those looking to keep outgoings low. The property is situated in Whelley, with easy access to shops, Wigan town centre and M6 Motorway.

The property briefly comprises, entrance hallway with multiple storage cupboards, bedroom 2 to the right, the modern fitted bathroom, bedroom 1 to the right, lounge with sliding patio doors leading to the garden, open plan kitchen/ dining room with sliding doors leading to the garden. Externally the property benefits from a private rear garden and garage.The property requires renovation, but would make an excellent investment!Call the office to arrange a viewing of this property!

Agent Details

Morgan H Lewis, Wigan

01942 918728

Next Steps?

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

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ValuationUndervalued

Investment OpportunityOpen in Analyser

Local Sold PricesDownload Show map

Local RentsDownload Show map

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Local Area Statistics

Property History

Floor Plans

Description

Agent Details

Next Steps?

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