2 Bed Terraced House, Refurb/BRRR, Motherwell, ML1 4DA, £55,000

Merry Street, Motherwell, ML1 4DA - 6 views - 4 months ago

Sold STC
Refurb/BRRR
ROI: 12%
~68 m²
+21 photos

ValuationFair Value

Sold Prices£60K - £200K

 

 

Square Metres

~68.11 m²

Value Estimate

£56,100

 

 

End Value (After Refurb)

£52,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£13,750

Stamp Duty & Legal Fees

£2,850

Refurb Costs

£26,658

Bridging Loan Interest

£1,444

Total Cash In

£46,452

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£52,000

Mortgage (After Refinance)

£39,000

Mortgage LTV

75%

Cash Left In

£46,452

Equity

£13,000

Rent Range

£495 - £1,999

Rent Estimate

£808

Running Costs/mo

£344

Cashflow/mo

£464

Cashflow/yr

£5,567

ROI

12%

Gross Yield

18%

Local Sold Prices

50 sold prices from £60K to £200K, average is £114.3K.

PriceDateDistanceAddressBeds 
£100K03/210.12 mi417, Merry Street, Motherwell, Lanarkshire ML1 4BP2
£195K04/240.35 mi14, Brown Street, Motherwell, Lanarkshire ML1 1LJ2
£80K05/210.48 mi215, Milton Street, Motherwell ML1 1HZ2
£91K04/210.53 mi13, Glendeveron Way, Carfin, Motherwell, Lanark ML1 4FP2
£145K03/210.87 mi178, Jerviston Street, New Stevenston, Motherwell ML1 4HT2
£113.5K05/210.93 mi7, James Street, Motherwell, Lanarkshire ML1 3JP2
£120K05/210.97 mi85, North Orchard Street, Motherwell, Lanarkshire ML1 3JL2
£125K11/210.98 mi23, Park Street, New Stevenston, Motherwell, Lanarkshire ML1 4HU2
£89.5K06/211.03 mi52, Scotia Street, Motherwell, Lan ML1 3JZ2
£125K04/211.05 mi7, Klondike Court, New Stevenston, Motherwell ML1 4FA2
£96K02/211.08 mi10, Queens Crescent, Motherwell, Lanarkshire ML1 4JA2
£85K07/211.08 mi24, Mearns Road, Motherwell, Lanarkshire ML1 3LE2
£90K04/211.09 mi17, Union Street, Motherwell, Lanarkshire ML1 4HE2
£121K04/241.1 mi9, Ellis Way, Motherwell, Lanarkshire ML1 2PN2
£128.3K08/211.1 mi29, Bernadette Crescent, Motherwell, Lanarkshire ML1 5AH2
£123.5K04/241.15 mi37, Dechmont Avenue, Motherwell, Lanarkshire ML1 3LT2
£98K01/211.16 mi5, Poplar Way, Motherwell, Lan ML1 5GY2
£121K03/211.18 mi165, Taylor Avenue, Motherwell, Lanark ML1 5EU2
£115K02/211.19 mi71, Watling Street, Motherwell, Lanarkshire ML1 3QN2
£85K02/241.2 mi6, Angus Avenue, Motherwell, Lanarkshire ML1 3LQ2
£105K02/241.21 mi28, Fort Street, Motherwell, Lanarkshire ML1 3QP2
£168K02/241.35 mi42, Vesuvius Drive, Motherwell, Lanarkshire ML1 2FA2
£135.5K02/211.39 mi37, Elmhurst, Motherwell, Lan ML1 3RJ2
£135K02/211.43 mi44, Elmhurst, Motherwell ML1 3RJ2
£102.5K07/211.47 mi10, Park Avenue, Motherwell, Lanarkshire ML1 4XT2
£185.5K05/211.47 mi50, Chestnut Grove, Motherwell ML1 3JF2
£116K05/211.48 mi113, Nelson Crescent, Motherwell, Lanarkshire ML1 2JP2
£99K10/211.53 mi34, Milnwood Drive, Bellshill, Lanarkshire ML4 2RA2
£77K11/211.53 mi52, Milnwood Drive, Bellshill, Lanarkshire ML4 2RA2
£105K12/211.54 mi65, Douglas Drive, Bellshill, Lanarkshire ML4 2QZ2
£60K02/211.56 mi17, Whitelaw Crescent, Bellshill, Lanarkshire ML4 2RG2
£102K02/211.56 mi16, Whitelaw Crescent, Bellshill, Lan ML4 2RG2
£90.1K04/211.58 mi70, Clyde Drive, Bellshill, Lanarkshire ML4 2QX2
£116K10/211.58 mi3, Douglas Drive, Bellshill, Lanarkshire ML4 2RE2
£200K05/211.62 mi34, Leander Crescent, Bellshill, Lanarkshire ML4 1JB2
£120K02/211.63 mi68, Leander Crescent, Bellshill ML4 1JB2
£77K01/211.63 mi3, Keynes Square, Bellshill, Lan ML4 2RP2
£191K08/211.64 mi3, Shirley Quadrant, Motherwell, Lan ML1 2RS2
£78.8K04/211.65 mi2, Stanefield Drive, Motherwell, Lanarkshire ML1 5BH2
£99.5K04/241.66 mi25, Birch Street, Motherwell, Lanarkshire ML1 4SF2
£80K08/211.68 mi8, Clyde Drive, Bellshill, Lanarkshire ML4 2QU2
£128.3K02/241.68 mi21, Clyde Drive, Bellshill, Lanarkshire ML4 2QU2
£124K07/211.71 mi110, Calder Road, Bellshill, Lanarkshire ML4 2PW2
£95K11/211.73 mi124, Muirhouse Avenue, Motherwell, Lanarkshire ML1 2LB2
£95K12/211.77 mi32, Pickerstonhill, Motherwell, Lanarkshire ML1 5BW2
£78.1K02/211.78 mi35, Caledonia Drive, Motherwell, Lanarkshire ML1 5JN2
£146K03/211.82 mi25, Ella Gardens, Bellshill, Lanarkshire ML4 2NT2
£144.5K10/211.84 mi17, Garfield Avenue, Bellshill, Lanarkshire ML4 2NU2
£120.4K10/211.84 mi8, Hawthorn Gardens, Bellshill, Lanarkshire ML4 2NZ2
£122K07/211.84 mi15, Gresham View, Motherwell, Lanarkshire ML1 2DP2

Local Rents

34 rents from £495/mo to £2K/mo, average is £750/mo.

RentDateDistanceAddressBeds 
£65007/230.05 mi-2
£49512/240.21 mi-2
£55012/230.21 mi-2
£55012/230.21 mi-2
£55012/230.21 mi-2
£75012/240.44 mi-2
£75012/240.44 mi-2
£75011/230.58 mi-2
£75011/230.58 mi-2
£69512/240.79 mi3 Findlay Court, Motherwell, ML1 1LA2
£65005/240.82 miOakfield Drive, Motherwell, North Lanarkshire, ML12
£1,79512/240.84 mi-2
£1,67503/250.84 mi-2
£1,19505/240.84 miWindmillhill Street, Motherwell, ML12
£1,99912/240.87 mi-2
£62503/240.87 mi-2
£75003/240.87 mi-2
£85009/240.87 mi-2
£75005/240.87 miHenderson Court, Motherwell, ML12
£60012/240.91 miDalriada Crescent, Motherwell2
£65005/240.99 miWatson Street, Motherwell2
£50005/230.99 mi-2
£50002/240.99 mi-2
£65010/241.08 mi-2
£65009/241.08 mi-2
£85005/241.08 miBruce Avenue, Motherwell, Lanarkshire, ML12
£1,05001/251.12 mi-2
£85005/241.14 miLaberge Gardens, Motherwell, Lanarkshire, ML12
£65012/241.15 miArran Road, Motherwell, Lanarkshire, ML12
£85002/251.17 mi-2
£85008/241.17 mi-2
£77505/241.18 miBellshill Road, Motherwell, Lanarkshire2
£77510/231.24 mi-2
£77507/241.24 mi-2

Local Area Statistics

Population in Motherwell

54,089

Town centre distance

0.88 miles away

Nearest school

0.60 miles away

Nearest train station

1.10 miles away

 

 

Rental growth (12m)

+69%

Sales demand

Seller's market

Capital growth (5yrs)

+4%

Property History

Listed for £55,000

December 5, 2024

Floor Plans

Description

  • Dial ext 088 to speak to the agent directly +
  • Home Report Value £60,000 +
  • Great Investment Opportunity +
  • Spacious Throughout +
  • Located Near All Local Amenities +
  • Early Viewing Recommended +
  • Great Family Property +
  • 2 bedrooms and attic room +
  • Gas central heating and double glazing +

Stuart Ferguson and Keller Williams *Ext 088* are delighted to bring to market this two bedroom, end terrace property in Motherwell.

The property comes with a good sized garden and would appeal to all buyers and make a great investment property. Requires some modernisation but could be a lovely starter home or ideal rental opportunity.

Situated in Motherwell located near to all local amenities, this two bedroom end terrace property would appeal to all buyers and make a great investment property. The property does require some modernisation but could be a lovely family home or rental opportunity,

Comprising on the ground floor - there is an open plan lounge/kitchen area. Upstairs there are two bedrooms and bathroom plus an attic room for storage. The property benefits from a large driveway as well as good sized level rear garden, fully enclosed. There is also gas central heating and double glazing.

Located near to all local amenities, Motherwell Shopping Centre offers a variety of shops and convenient commuting with easy access to the M74 and M8 as well local access via train or bus. Local primary and secondary schooling is available along with parkland and local golf course.

Agent Details

Keller Williams Evolve, Scotland

03330 344655

Next Steps?

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