2 Bed Bungalow, Cash/Bridging Only, Wolverhampton, WV3 7JJ, £60,000

Marnel Court, Gail Park, Merry Hill, Wolverhampton, West Midlands, WV3 7JJ - 2 views - 5 months ago

Auction
Cash
ROI: 8%
~68 m²
+7 photos

ValuationFair Value

Sold Prices£75K - £405K
Sold Prices/m²£1.4K/m² - £4.1K/m²

 

 

Square Metres

~68.11 m²
Price/m²£881/m²

Value Estimate

£60,000

 

 

End Value (After Refurb)

£154,574

Uplift in Value

+158%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£15,000

Stamp Duty & Legal Fees

£4,200

Refurb Costs

£26,951

Bridging Loan Interest

£1,575

Total Cash In

£49,476

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Estimated Sale Price

£154,574

Agent Fees (1%)

£1,546

Bridging Loan

£45,000

Bridging Loan Interest

£1,575

Flip Profit

£58,552

Local Sold Prices

50 sold prices from £75K to £405K, average is £182.5K. £1.4K/m² to £4.1K/m², average is £2.6K/m².

PriceDateDistanceAddressBeds 
£165K04/210.15 mi54, Rowan Crescent, Wolverhampton, West Midlands WV3 7HL2
£170K02/210.15 mi58, Rowan Crescent, Wolverhampton, West Midlands WV3 7HL2
£190K11/200.17 mi47, Rowan Crescent, Wolverhampton, West Midlands WV3 7HN2
£197K11/230.17 mi19, Rowan Crescent, Wolverhampton, West Midlands WV3 7HN2
£215K11/230.22 mi27, Oxbarn Avenue, Wolverhampton, West Midlands WV3 7HD2
£165K10/230.27 mi76, Victoria Road, Bradmore, Wolverhampton, West Midlands WV3 7EU2
£170K06/210.27 mi34, Victoria Road, Bradmore, Wolverhampton, West Midlands WV3 7EU2
£159.9K06/210.27 mi53, Victoria Road, Bradmore, Wolverhampton, West Midlands WV3 7EU2
£155K10/230.28 mi53, Trysull Road, Wolverhampton, West Midlands WV3 7JE2
£300K11/220.28 mi5, Laurel Grove, Wolverhampton, West Midlands WV3 7HJ2
£185K08/230.3 mi20, Church Road, Bradmore, Wolverhampton, West Midlands WV3 7ET2
£180K09/230.3 mi19, New Street, Merry Hill, Wolverhampton, West Midlands WV3 7NW2
£167K03/230.32 mi34, Maple Road, Wolverhampton, West Midlands WV3 7JD2
£185K01/230.33 mi28, Church Road, Bradmore, Wolverhampton, West Midlands WV3 7ER2
£210K09/210.35 mi7, Havelock Close, Wolverhampton, West Midlands WV3 7HS2
£177K12/200.36 mi19, Broad Lane, Wolverhampton, West Midlands WV3 9BN2
£163.5K11/210.38 mi96, Church Road, Bradmore, Wolverhampton, West Midlands WV3 7EW2
£140K03/210.38 mi98, Church Road, Bradmore, Wolverhampton, West Midlands WV3 7EW2
£159.9K05/210.4 mi24, Ackleton Gardens, Bradmore, Wolverhampton, West Midlands WV3 7ES2
£178K08/210.42 mi13, Wellington Avenue, Wolverhampton, West Midlands WV3 7EP2
£211K01/240.42 mi22, Wellington Avenue, Wolverhampton, West Midlands WV3 7EP2
£275K03/210.43 mi6, York Crescent, Wolverhampton, West Midlands WV3 9BT2
£250K12/200.44 mi17, Linden Lea, Finchfield, Wolverhampton, West Midlands WV3 8BH2
£225K05/210.45 mi9, Bhylls Lane, Wolverhampton, West Midlands WV3 8DH2
£225K11/200.46 mi23, Farm Road, Finchfield, Wolverhampton, West Midlands WV3 8EW2
£218K11/200.46 mi15, Finchdene Grove, Finchfield, Wolverhampton, West Midlands WV3 8BG2
£162.5K05/210.51 mi186, Pinfold Lane, Penn, Wolverhampton, West Midlands WV4 4HB2
£405K04/210.52 mi1, The Dingle, Finchfield, Wolverhampton, West Midlands WV3 9ET2
£276K02/230.52 mi44, Glendale Close, Finchfield, Wolverhampton, West Midlands WV3 8EN2
£280K02/230.52 mi24, Glendale Close, Finchfield, Wolverhampton, West Midlands WV3 8EN2
£285K01/230.53 mi15, Sycamore Drive, Finchfield, Wolverhampton, West Midlands WV3 9HB2
£282K05/240.53 mi9, Sycamore Drive, Finchfield, Wolverhampton, West Midlands WV3 9HB2
£240K11/200.53 mi1, Sycamore Drive, Finchfield, Wolverhampton, West Midlands WV3 9HB2
£178K09/230.54 mi3, Worfield Gardens, Penn Fields, Wolverhampton, West Midlands WV3 7EL2
£180K01/210.55 mi5, Oak Leys, Wolverhampton, West Midlands WV3 9AB2
£290K01/230.55 mi9, Oak Leys, Wolverhampton, West Midlands WV3 9AB2
£310K06/230.57 mi11, The Pines, Wolverhampton, West Midlands WV3 9HD2
£350K02/230.59 mi2, The Spinney, Wolverhampton, West Midlands WV3 9ER2
£102K12/220.6 mi23, Warstones Gardens, Wolverhampton, West Midlands WV4 4PD2
£170K07/210.6 mi36, Finchfield Hill, Wolverhampton, West Midlands WV3 9EN2
£176K03/230.62 mi25, Skidmore Avenue, Wolverhampton, West Midlands WV3 7AJ2
£220K03/210.63 mi26, Orchard Crescent, Wolverhampton, West Midlands WV3 8DS2
£75K08/210.63 mi2, Fistral Gardens, Wolverhampton, West Midlands WV3 7NY2
£120K12/200.64 mi112, Jeffcock Road, Wolverhampton, West Midlands WV3 7AF2
£200K09/230.67 mi186, Westacre Crescent, Finchfield, Wolverhampton, West Midlands WV3 9AZ2
£218K07/230.67 mi180, Westacre Crescent, Finchfield, Wolverhampton, West Midlands WV3 9AZ2
£165K11/200.67 mi182, Westacre Crescent, Finchfield, Wolverhampton, West Midlands WV3 9AZ2
£157K02/210.67 mi160, Westacre Crescent, Finchfield, Wolverhampton, West Midlands WV3 9AZ2
£175K01/210.67 mi180, Westacre Crescent, Finchfield, Wolverhampton, West Midlands WV3 9AZ2
£165K11/200.67 mi182, Westacre Crescent, Finchfield, Wolverhampton, West Midlands WV3 9AZ2

Local Rents

44 rents from £614/mo to £4K/mo, average is £875/mo.

RentDateDistanceAddressBeds 
£89902/250.22 mi-2
£79511/240.37 miFinchfield Road West, Finchfield, Wolverhampton2
£82511/240.6 miYork Avenue, Finchfield2
£79511/240.74 miMerridale Road, Wolverhampton, WV32
£90011/240.78 mi-2
£1,00004/250.83 mi-2
£85004/250.84 mi-2
£90004/250.84 mi-2
£92511/240.91 miCopthorne Road, Wolverhampton2
£61411/240.94 mi-2
£85003/250.95 mi-2
£80004/250.98 mi-2
£84003/250.98 mi-2
£85004/250.98 mi-2
£85004/250.98 mi-2
£79511/241 miCompton Road, Wolverhampton, West Midlands, WV32
£89510/241.01 mi-2
£1,00011/241.01 miWynchcombe Avenue, Penn2
£79903/251.03 mi-2
£85002/251.03 mi-2
£87511/241.04 miLea Road, Wolverhampton2
£87504/251.05 mi-2
£75002/251.06 mi-2
£75002/251.07 mi-2
£90011/241.08 mi4 Magnolia Court, Muchall Road, Penn2
£85012/241.11 miHigh Meadows, Compton, Wolverhampton, West Midlands, WV62
£80011/241.15 miHaden Hill, Wolverhampton2
£99511/241.15 miHaden Hill, Wolverhampton2
£87511/241.15 miHaden Hill, WOLVERHAMPTON2
£82511/241.15 miTettenhall Gate, Haden Hill, Wolverhampton2
£97511/241.16 miMerridale Road, Wolverhampton, West Midlands, WV32
£85011/241.19 miPennant Court, Wolverhampton, WV32
£92511/241.19 miHaden Hill, Wolverhampton2
£4,00011/241.19 mi-2
£4,00011/241.19 mi-2
£79511/241.19 miTettenhall Road, Wolverhampton, West Midlands2
£1,20011/241.2 mi-2
£1,10012/241.2 mi-2
£1,10001/251.2 mi-2
£95004/251.21 mi-2
£95004/251.21 mi-2
£85011/241.22 miTettenhall Gate, Tettenhall Road, Wolverhampton2
£95011/241.22 mi-2
£92511/241.23 miBraden Road, Penn, Wolverhampton2

Local Area Statistics

Population in WV3

29,663

Population in Wolverhampton

260,353

Town centre distance

0.83 miles away

Nearest school

0.20 miles away

Nearest train station

1.80 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 £60,000

April 6, 2025

Price changed to £75,000

March 13, 2025

Listed for £65,000

December 12, 2024

Floor Plans

Description

  • For Sale by Modern Method of Auction, Starting Bid £65,000 plus Reservation Fee. +
  • AUCTION T&C'S APPLIES +
  • CASH BUYERS ONLY - SHORT LEASE OF 38 YEARS +
  • Ground Floor Apartment Being Sold With NO UPWARD CHAIN +
  • Spacious Accommodation Throughout +
  • Well Suited For Those That May Struggle With Stairs Without Paying The Premium Of A Bungalow +
  • Highly Regarded Location of Merry Hill With Local Merry Hill Shopping Precinct Close by +
  • Set Off The Trysull Road With Direct Road/Local Transport Routes Into Wolverhampton City Centre & Surrounding Areas +
  • Two Well Proportioned Bedrooms +
  • Spacious Front Aspect Living Room & Rear Kitchen +

For Sale by Modern Method of Auction, Starting Bid £60,000 plus Reservation Fee.

This TWO BEDROOM ground floor apartment comes to the market with NO UPWARD CHAIN and is set upon a lovely development, located just off Trysull Road, upon Gail Park, a pleasant cul de sac where Marnel Court development is situated, benefitting from a GARAGE in a separate block to rear.

Set to the West of Wolverhampton City Centre in the Merry Hill area, with an impressive array of excellent local schools and amenities, whilst easy access is provided for Trysull Road and Penn road for commuting links and numerous shopping facilities and eateries nearby.

Approached via a residents communal entrance hallway, the accommodation in brief comprises of : spacious living room overlooking the front grounds and doors servicing the kitchen and inner hallway with a useful storage cupboard, two well-proportioned bedrooms, master bedroom easily accommodating a double bed and extra furnishings and finally a shower room all completing the internal living accommodation.

Also benefiting from a GARAGE in separate block to the rear, this is well suited for a buyer who may struggle with stairs but does not want to pay a premium for a bungalow, or perhaps even ideal for the discerning investor.

This apartment really is noted for its location and sizeable living accommodation and most worthy of a viewing.

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

Agent Notes:
Lease Start Date - 4th February 1963
Lease Term - 99 years from 4th February 1963

Service Charge is £150 every 3 months (Quarterly) as advised by the seller.

Mobile coverage from all four major networks.
Superfast Fibre Broadband
All services are mains connected
Rear resident/garage parking

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

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 is responsible for the Pack fee. For the most recent information on the Buyer Information Pack fee, please contact the iamsold team.

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 calculations for 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 £960 inc. VAT. These services are optional.

Agent Details

D B Roberts & Partners, Wolverhampton

01902 943715

Next Steps?

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

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