2 Bed Flat, Refurb/BRRR, Paisley, PA2 6QL, £60,000

Neilston Road, Paisley, Renfrewshire, PA2 6QL - 5 views - 3 months ago

Sold STC

Refurb/BRRR

ROI: 12%

~68 m²

+4 photos

ValuationFair Value

Sold Prices	£55K - £238.5K

Square Metres	~68.11 m²
Value Estimate	£60,250£60,250

End Value (After Refurb)	£60,258£60,258
Uplift in Value	+0%+0%

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£15,000£15,000
Stamp Duty & Legal Fees	£3,000£3,000
Refurb Costs	£26,491£26,491
Bridging Loan Interest	£1,575£1,575
Total Cash In	£47,816£47,816

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£60,258£60,258
Mortgage (After Refinance)	£45,193£45,193
Mortgage LTV	75%75%
Cash Released	£193£193
Cash Left In	£47,623£47,623
Equity	£15,064£15,064
Rent Range	£625 - £1,150£625 - £1,150
Rent Estimate	£846
Running Costs/mo	£378£378
Cashflow/mo	£468£468
Cashflow/yr	£5,622£5,622
ROI	12%12%
Gross Yield	17%17%

Local Sold Prices

34 sold prices from £55K to £238.5K, average is £90K.

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£135K	08/24	0.16 mi	42, Thornly Park Gardens, Paisley, Ren PA2 7RF	-	-	2	Flat
£101.3K	05/21	0.18 mi	17, Carriagehill Avenue, Paisley, Renfrewshire PA2 6LA	-	-	2	Flat
£79.5K	04/21	0.19 mi	37, Lochfield Road, Paisley, Renfrewshire PA2 7RL	-	-	2	Flat
£167.5K	01/21	0.22 mi	2 2/2, Brodie Park Avenue, Paisley, Ren PA2 6JH	-	-	2	Flat
£95K	09/21	0.22 mi	3, Lochfield Crescent, Paisley, Renfrewshire PA2 6QR	-	-	2	Flat
£100.5K	12/21	0.28 mi	85, Falside Road, Paisley PA2 6JU	-	-	2	Flat
£90K	01/21	0.28 mi	69, Falside Road, Paisley, Ren PA2 6JU	-	-	2	Flat
£115K	07/21	0.29 mi	49, Brodie Park Avenue, Paisley PA2 6JA	-	-	2	Flat
£64K	08/24	0.3 mi	10d, Rowan Court, Paisley, Ren PA2 6NB	-	-	2	Flat
£66K	10/21	0.31 mi	10, Lylesland Court, Paisley, Renfrewshire PA2 6RR	-	-	2	Flat
£70K	11/21	0.32 mi	3, Lylesland Court, Paisley, Renfrewshire PA2 6RR	-	-	2	Flat
£65K	11/21	0.33 mi	3e, Calside Court, Paisley, Renfrewshire PA2 6DS	-	-	2	Flat
£90K	12/21	0.36 mi	17, Westlands Gardens, Paisley PA2 6ET	-	-	2	Flat
£82K	08/21	0.37 mi	73, Crags Avenue, Paisley, Renfrewshire PA2 6SG	-	-	2	Flat
£68K	04/21	0.37 mi	80b, Alice Street, Paisley, Renfrewshire PA2 6DZ	-	-	2	Flat
£88K	03/21	0.42 mi	42, Lochfield Drive, Paisley, Renfrewshire PA2 6SB	-	-	2	Flat
£90K	06/21	0.43 mi	21, Stock Avenue, Paisley, Renfrewshire PA2 6AS	-	-	2	Flat
£88.5K	04/21	0.43 mi	58, Stock Avenue, Paisley PA2 6AS	-	-	2	Flat
£105K	12/21	0.47 mi	38, Polsons Crescent, Paisley PA2 6AX	-	-	2	Flat
£82.9K	08/24	0.48 mi	8, Morven Avenue, Paisley, Ren PA2 8DR	-	-	2	Flat
£55K	04/21	0.55 mi	50a, Saucelhill Terrace, Paisley, Renfrewshire PA2 6SZ	-	-	2	Flat
£238.5K	11/21	0.66 mi	5, High Calside, Paisley, Renfrewshire PA2 6BY	-	-	2	Flat
£69K	05/21	0.7 mi	32, Glenburn Crescent, Paisley, Renfrewshire PA2 8LX	-	-	2	Flat
£90K	04/24	0.82 mi	8, Highfield Avenue, Paisley, Renfrewshire PA2 8LG	-	-	2	Flat
£115K	11/21	0.86 mi	Plot 24, Victoria Gardens, Paisley PA2 9PQ	-	-	2	Flat
£142K	01/21	0.88 mi	3, Cross Road, Paisley, Ren PA2 9QG	-	-	2	Flat
£86.5K	07/21	0.92 mi	55, Kilpatrick Avenue, Paisley, Renfrewshire PA2 9DL	-	-	2	Flat
£94K	10/21	0.92 mi	55, Millstream Court, Paisley PA1 1RG	-	-	2	Flat
£90K	01/21	0.92 mi	15, Millstream Court, Paisley, Renfrew PA1 1RG	-	-	2	Flat
£105K	06/21	0.96 mi	14, Millstream Court, Paisley PA1 1RR	-	-	2	Flat
£90K	07/21	0.96 mi	34, Anchor Avenue, Paisley, Renfrewshire PA1 1LD	-	-	2	Flat
£94.6K	07/21	0.96 mi	26, Anchor Avenue, Paisley, Renfrewshire PA1 1LD	-	-	2	Flat
£77K	06/21	0.96 mi	42, Stranka Avenue, Paisley, Renfrewshire PA2 9DW	-	-	2	Flat
£90K	04/21	0.96 mi	67, Kilpatrick Avenue, Paisley, Renfrewshire PA2 9EA	-	-	2	Flat

Local Rents

45 rents from £625/mo to £1.1K/mo, average is £825/mo.

Rent	Date	Distance	Address	Beds	Type
£900	06/24	0.06 mi	Lochfield Road, Paisley	2	Flat
£825	12/24	0.13 mi	-	2	Flat
£825	12/24	0.13 mi	Neilston Road, Paisley, PA2	2	Flat
£800	01/25	0.17 mi	-	2	Flat
£875	12/24	0.18 mi	-	2	Flat
£750	06/24	0.19 mi	Stonefield Park, Paisley, PA2	2	Flat
£950	06/24	0.21 mi	Brodie Park Avenue, Paisley, PA2 6JH	2	Flat
£800	06/24	0.22 mi	South Park Drive, Paisley	2	Flat
£1,095	06/24	0.22 mi	Southpark Drive, Paisley	2	Flat
£950	06/24	0.22 mi	Southpark Drive, Paisley	2	Flat
£795	06/24	0.25 mi	Colinslee Drive, Paisley	2	Flat
£875	06/24	0.27 mi	-	2	Flat
£795	12/24	0.28 mi	Falside Road, Paisley, Renfrewshire, PA2	2	Flat
£795	12/24	0.29 mi	-	2	Flat
£875	02/24	0.29 mi	-	2	Flat
£695	06/24	0.31 mi	Lylesland Court, Paisley	2	Flat
£795	06/24	0.32 mi	Lylesland Court, Paisley, PA2	2	Flat
£795	06/24	0.32 mi	-	2	Flat
£825	06/24	0.32 mi	Lylesland Court, Paisley, Renfrewshire, PA2 6RR	2	Flat
£900	05/24	0.32 mi	-	2	Flat
£690	06/24	0.33 mi	Lochfield Road, Paisley, PA2	2	Flat
£690	07/24	0.33 mi	-	2	Flat
£700	05/24	0.33 mi	-	2	Flat
£800	03/25	0.34 mi	-	2	Flat
£875	06/24	0.35 mi	Moorfoot Avenue, Paisley, Renfrewshire, PA2	2	Terraced House
£1,150	06/24	0.36 mi	-	2	Flat
£980	12/24	0.36 mi	-	2	Flat
£750	12/24	0.37 mi	-	2	Flat
£995	08/24	0.4 mi	-	2	Flat
£995	06/24	0.4 mi	Stock Avenue, Paisley, PA2	2	Flat
£950	06/24	0.43 mi	Friarshall Gate Paisley	2	Flat
£995	02/25	0.44 mi	-	2	Flat
£1,150	01/24	0.45 mi	-	2	Flat
£895	06/24	0.46 mi	Kilpatrick Crescent, Paisley, Renfrewshire, PA2	2	Terraced House
£900	03/25	0.48 mi	-	2	Flat
£800	03/25	0.48 mi	-	2	Flat
£625	12/24	0.5 mi	-	2	Flat
£625	12/24	0.5 mi	Morven Avenue, Paisley, PA2	2	Flat
£800	06/24	0.5 mi	Braefoot Crescent, Glenburn	2	Flat
£875	03/25	0.5 mi	-	2	Terraced House
£700	03/24	0.53 mi	Neilston Road, Paisley, Renfrewshire, PA2	2	Flat
£625	06/24	0.59 mi	-	2	Flat
£995	06/24	0.6 mi	Elm Road, Paisley	2	Flat
£800	03/25	0.61 mi	-	2	Flat
£700	02/24	0.62 mi	-	2	Flat

Local Area Statistics

Population in Paisley	86,38186,381
Town centre distance	0.71 miles away0.71 miles away
Nearest school	0.20 miles away0.20 miles away
Nearest train station	0.71 miles away0.71 miles away

Rental growth (12m)	+15%+15%
Sales demand	Seller's marketSeller's market
Capital growth (5yrs)	+45%+45%

Property History

Listed for £60,000

December 13, 2024

Floor Plans

Description

CLOSING DATE THURSDAY 16TH JANUARY 2025 @ 12NOON2 bedroom main door character flat located in sought after pocket of Paisley +
A degree of upgrade and modernisation is required throughout +
Generous front facing lounge with bay fronted window +
2 bedrooms +
Generous separate rear facing kitchen +
Wet Room +
Large store cupboard in entrance hall +
Main front and back door flat with exclusive section of garden ground +
Parking is on-street, ideally placed for all local amenities, local schooling, bus and rail links nearby +
Home Report Value £65,000 +

CLOSING DATE THURSDAY 16TH JANUARY 2025 @ 12NOONELLE MARIE PROPERTY presents to the market this rarely available 2- bedroom main door ground floor flat located in sought after Neilston Road, Paisley. The property requires a degree of upgrade and modernisation throughout with excellent potential comprising large front facing lounge, separate rear facing dining kitchen, 2 double bedrooms, wet-room, and entrance hall with built-in storage. Externally, the property enjoys a generous exclusive section of garden ground. Parking is on-street.

EPC Rating: D

Dimensions:

Lounge: 13'x17'
Kitchen: 11'6"x10''4"
Bedroom 1: 14'x11'4"
Bedroom 2: 12'4"x10'3"
Wet room: 6'4"x6'2"

These property details are set out as a general outline only and do not constitute any part of an Offer or Contract. The photographs are for illustrative purposes only. Any services, equipment, fittings or central heating systems have not been tested and no warranty is given as to their working order. Fixtures, fittings and other items are not included unless specifically described. All measurements are approximate and for guidance only.