2 Bed Flat, Refurb/BRRR, B5 7EL, £230,000

Sherlock Street, Birmingham, B5 7EL - 6 views - 5 months ago

Leasehold
Refurb/BRRR
ROI: 6%
~68 m²
+1 photos

ValuationOvervalued

Sold Prices£30K - £500K
Sold Prices/m²£724/m² - £4.5K/m²

 

 

Square Metres

~68.11 m²
Price/m²£3.4K/m²

Value Estimate

£146,942

 

 

End Value (After Refurb)

£215,688

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£57,500

Stamp Duty & Legal Fees

£8,100

Refurb Costs

£26,792

Bridging Loan Interest

£6,038

Total Cash In

£100,179

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£215,688

Mortgage (After Refinance)

£161,766

Mortgage LTV

75%

Cash Left In

£100,179

Equity

£53,922

Rent Range

£1,150 - £3,500

Rent Estimate

£1,538

Running Costs/mo

£1,002

Cashflow/mo

£536

Cashflow/yr

£6,436

ROI

6%

Gross Yield

8%

Local Sold Prices

23 sold prices from £30K to £500K, average is £144.5K. £724/m² to £4.5K/m², average is £2K/m².

PriceDateDistanceAddressBeds 
£130K06/210.26 mi55, Alexandra Road, Birmingham, West Midlands B5 7NJ2
£55K03/210.3 mi28, Horton Square, Birmingham, West Midlands B12 0YR2
£55K03/210.3 mi28, Horton Square, Birmingham, West Midlands B12 0YR2
£150K02/230.45 miApartment 290, Southside, St Johns Walk, Birmingham, West Midlands B5 4TL2
£181K02/210.45 miApartment 257, Southside, St Johns Walk, Birmingham, West Midlands B5 4TL2
£160K11/220.45 miApartment 444, Southside, St Johns Walk, Birmingham, West Midlands B5 4TP2
£120.2K06/220.46 mi25, Royston Croft, Birmingham, West Midlands B12 9DX2
£65K02/230.49 miFlat 77, Elmwood Court, Pershore Road, Birmingham, West Midlands B5 7PB2
£30K10/200.49 miFlat 73, Elmwood Court, Pershore Road, Birmingham, West Midlands B5 7PB2
£120K11/200.49 miFlat 74, Elmwood Court, Pershore Road, Birmingham, West Midlands B5 7PB2
£235K12/220.56 mi110, Viceroy Close, Birmingham, West Midlands B5 7UY2
£144K05/210.62 mi6, Dalloway Close, Birmingham, West Midlands B5 7RD2
£144.5K09/210.62 mi35, Pakenham Road, Birmingham, West Midlands B15 2NE2
£242.5K10/200.65 mi153, Viceroy Close, Birmingham, West Midlands B5 7UX2
£500K02/210.65 mi28, Wheeleys Road, Edgbaston, Birmingham, West Midlands B15 2LF2
£500K02/210.65 mi28, Wheeleys Road, Edgbaston, Birmingham, West Midlands B15 2LF2
£172K12/200.65 miFlat 17, Edencroft, Wheeleys Road, Edgbaston, Birmingham, West Midlands B15 2LW2
£176K10/220.65 miFlat 15, Edencroft, Wheeleys Road, Edgbaston, Birmingham, West Midlands B15 2LW2
£290K09/210.69 mi123 Royal Arch Apartments, The Mailbox, Wharfside Street, Birmingham, West Midlands B1 1RG2
£235K07/210.77 miApartment 34, Friday Bridge, Berkley Street, Birmingham, West Midlands B1 2LB2
£99K08/220.79 mi54, Foster Way, Birmingham, West Midlands B5 7QJ2
£65K11/230.89 miFlat 21, Century Tower, Dollery Drive, Birmingham, West Midlands B5 7TE2
£100K12/200.99 mi2, Odell Place, Edgbaston, Birmingham, West Midlands B5 7RQ2

Local Rents

50 rents from £1.1K/mo to £3.5K/mo, average is £1.4K/mo.

RentDateDistanceAddressBeds 
£1,50002/250 mi-2
£1,50003/250.01 mi-2
£2,10002/240.02 mi-2
£1,85002/240.02 mi-2
£1,65003/240.02 mi-2
£2,20002/240.02 mi-2
£1,65003/240.02 mi-2
£1,25012/240.03 miAtwood House, 29 Stratford House Road, Edgbaston, Birmingham, B52
£2,45004/250.04 mi-2
£1,35012/240.05 miHope Street, BIRMINGHAM2
£1,40012/240.05 mi8 Hope Street, Birmingham, B5 7EU2
£1,25012/240.06 miAttwood House, Stratford House Road, B5 7EY2
£1,25012/240.06 miAttwood House, Birmingham, B52
£1,30003/240.06 mi-2
£1,30002/240.06 mi-2
£1,30012/240.06 mi-2
£1,30012/240.06 mi-2
£1,35001/250.06 mi-2
£1,30012/240.06 miWaterway House, Birmingham, B52
£1,35002/240.07 mi-2
£1,22503/240.07 mi-2
£1,22503/240.07 mi-2
£1,40002/250.07 mi-2
£1,25004/250.07 mi-2
£1,27512/240.07 miHope Street, Birmingham, B52
£1,22512/240.07 miHope Street, Birmingham, B52
£1,15012/240.07 mi22 Belgrave Middleway, Birmingham2
£2,40001/250.07 mi-2
£2,90004/250.07 mi-2
£1,15004/250.07 mi-2
£3,50003/240.08 mi-2
£3,50012/240.08 mi-2
£2,30003/240.11 mi-2
£2,20002/240.12 mi-2
£1,45002/240.12 mi-2
£2,45002/240.14 mi-2
£1,40004/250.15 mi-2
£1,30002/240.17 mi-2
£1,50012/240.17 mi-2
£1,29512/240.17 mi-2
£1,50012/240.17 miRoosevelt Apartments, Birmingham, B152
£1,35012/240.18 miLincoln Apartments, 2 Lexington Gardens, Park Central, Birmingham, B152
£1,25012/240.19 miSt. Lukes Road, BIRMINGHAM2
£1,25012/240.19 miSt Lukes Road, Birmingham, B5 7FN2
£1,25012/240.19 miBerrington Place, St Lukes Road, Birmingham, B52
£1,90002/250.19 mi-2
£1,40002/250.19 mi-2
£1,35002/240.19 mi-2
£1,30003/240.19 mi-2
£1,20003/240.19 mi-2

Property History

Listed for £230,000

November 27, 2024

Floor Plans

Description

  • No Chain +
  • Furniture and white goods are included in the asking price +
  • Spacious Two Bedroom Apartment +
  • Cotemporary Kitchen and Bathroom +
  • Excellent Transport Links +
  • Open Plan Lounge/ Diner +
  • Secure Entry +
  • Walking Distance to City Center +
  • Close to Local Amenities +
  • B5 Central Location +

Welcome to this modern flat located on Sherlock Street in the heart of Birmingham. This delightful property, built in 2021, offers a contemporary living experience in a prime city centre location, making it an ideal choice for both first-time buyers and investors alike. It's a bargain that furniture and white goods are included in the asking price.

One of the standout features of this property is that it comes fully furnished, including essential white goods, allowing for a seamless move-in experience. This is particularly advantageous for those looking to settle in without the hassle of purchasing additional furniture or appliances.

Spanning an impressive 624 square feet, the flat features a spacious reception room that provides a perfect space for relaxation or entertaining guests. With two well-proportioned bedrooms, there is ample room for comfortable living. The property also includes a stylish bathroom, designed with modern fixtures and fittings to enhance your daily routine.

One of the standout features of this flat is its proximity to a wealth of amenities. You will find yourself just a short stroll away from the vibrant Bull Ring shopping centre and the lively atmosphere of China Town, offering a variety of dining and shopping options. Additionally, the property benefits from excellent transport links, ensuring easy access to the wider Birmingham area and beyond.

As a newly built flat, it boasts modern finishes and a fresh aesthetic, allowing you to move in without the need for any immediate renovations. Furthermore, the absence of a chain means a smoother and quicker transaction process, making this property even more appealing.

In summary, this flat on Sherlock Street presents a fantastic opportunity to enjoy city living at its finest. With its prime location, modern design, and convenient access to amenities, it is a property not to be missed.

Agent Details

Perfect Pillars, Reading

0118 230 8132

Next Steps?

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