3 Bed Semi-Detached House, Refurb/BRRR, Birmingham, B8 2QU, £220,000

Wardend Road, Birmingham, B8 2QU - 6 views - 2 months ago

Under Offer
Motivated
Cash
Refurb/BRRR
ROI: 4%
~93 m²
+8 photos

ValuationOvervalued

Sold Prices£60K - £245K
Sold Prices/m²£612/m² - £3.1K/m²

 

 

Square Metres

~93 m²
Price/m²£2.4K/m²

Value Estimate

£194,193

 

 

End Value (After Refurb)

£210,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£55,000

Stamp Duty & Legal Fees

£7,800

Refurb Costs

£36,800

Bridging Loan Interest

£5,775

Total Cash In

£107,125

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£210,000

Mortgage (After Refinance)

£157,500

Mortgage LTV

75%

Cash Left In

£107,125

Equity

£52,500

Rent Range

£950 - £3,000

Rent Estimate

£1,347

Running Costs/mo

£946

Cashflow/mo

£401

Cashflow/yr

£4,816

ROI

4%

Gross Yield

7%

Local Sold Prices

50 sold prices from £60K to £245K, average is £169K. £612/m² to £3.1K/m², average is £2.1K/m².

PriceDateDistanceAddressBeds 
£170K03/230 mi31, Wardend Road, Birmingham, West Midlands B8 2QU3
£147K01/210.2 mi104, Northleigh Road, Birmingham, West Midlands B8 2QL3
£210K06/220.23 mi115, Drews Lane, Birmingham, West Midlands B8 2QF3
£182.5K08/220.24 mi104, Drews Lane, Birmingham, West Midlands B8 2QF3
£152K04/210.25 mi59, St Margarets Road, Ward End, Birmingham, West Midlands B8 2BB3
£168K06/210.26 mi51, Ingleton Road, Birmingham, West Midlands B8 2QW3
£165K03/210.27 mi579, Washwood Heath Road, Birmingham, West Midlands B8 2HB3
£245K12/220.27 mi12, Ingleton Road, Birmingham, West Midlands B8 2QW3
£158K06/210.32 mi129, St Margarets Road, Ward End, Birmingham, West Midlands B8 2BD3
£180K05/230.33 mi34, Northleigh Road, Birmingham, West Midlands B8 2QP3
£207K01/230.34 mi147, St Margarets Road, Ward End, Birmingham, West Midlands B8 2BD3
£120K07/230.36 mi66, Asquith Road, Birmingham, West Midlands B8 2HL3
£150K01/230.37 mi36, Asquith Road, Birmingham, West Midlands B8 2HL3
£160K11/220.38 mi41, Asquith Road, Birmingham, West Midlands B8 2HP3
£160K04/210.38 mi33, Asquith Road, Birmingham, West Midlands B8 2HP3
£141K03/210.39 mi90, Glenpark Road, Birmingham, West Midlands B8 3QN3
£210K11/220.4 mi12, Morley Road, Birmingham, West Midlands B8 2HR3
£184K10/200.4 mi170, Drews Lane, Birmingham, West Midlands B8 2SL3
£158.5K07/210.41 mi137, Sladefield Road, Birmingham, West Midlands B8 2SY3
£140K11/200.41 mi165, Sladefield Road, Birmingham, West Midlands B8 2SY3
£148.5K05/210.42 mi19, Morley Road, Birmingham, West Midlands B8 2HR3
£155K04/210.42 mi4, Morley Road, Birmingham, West Midlands B8 2HR3
£120K06/210.42 mi6, Morley Road, Birmingham, West Midlands B8 2HR3
£145K10/200.42 mi26, Bamville Road, Birmingham, West Midlands B8 2TL3
£162.5K11/200.43 mi68, Glenpark Road, Birmingham, West Midlands B8 3QW3
£200K03/230.48 mi3, William Cook Road, Birmingham, West Midlands B8 2HS3
£165K05/230.51 mi10, Rogers Road, Birmingham, West Midlands B8 2JH3
£180K05/210.51 mi75, Monk Road, Birmingham, West Midlands B8 2TP3
£190K06/230.52 mi106, Morley Road, Birmingham, West Midlands B8 2HX3
£210K06/210.52 mi251, St Margarets Road, Ward End, Birmingham, West Midlands B8 2DY3
£210K02/210.53 mi492, Bromford Lane, Washwood Heath, Birmingham, West Midlands B8 2RS3
£180K03/230.53 mi56, Warren Road, Washwood Heath, Birmingham, West Midlands B8 2YL3
£152.5K10/200.54 mi97, Fernbank Road, Birmingham, West Midlands B8 3LL3
£190K01/230.54 mi29, Shaw Hill Road, Birmingham, West Midlands B8 3LJ3
£245K10/220.55 mi58, Woodwells Road, Birmingham, West Midlands B8 2TQ3
£108K04/210.56 mi45, Foxton Road, Birmingham, West Midlands B8 3HW3
£162.5K03/210.56 mi97, Foley Road, Birmingham, West Midlands B8 2JR3
£190K01/210.56 mi11, Thornton Road, Birmingham, West Midlands B8 2LQ3
£116.1K01/230.56 mi17, Bromford Road, Birmingham, West Midlands B36 8HU3
£220K04/230.57 mi72, Fairholme Road, Birmingham, West Midlands B36 8HP3
£215K08/220.57 mi86, Old Bromford Lane, Birmingham, West Midlands B8 2RP3
£205K08/230.57 mi56, Foxton Road, Birmingham, West Midlands B8 3HP3
£209K06/230.57 mi52, Foxton Road, Birmingham, West Midlands B8 3HP3
£182.5K01/210.57 mi25, Bromford Road, Birmingham, West Midlands B36 8HU3
£178K04/210.58 mi102, Brookhill Road, Birmingham, West Midlands B8 3PD3
£200K05/230.58 mi27, Foley Road, Birmingham, West Midlands B8 2JT3
£120K01/210.58 mi2, Nigel Road, Birmingham, West Midlands B8 1PA3
£92K10/200.58 mi14, Nigel Road, Birmingham, West Midlands B8 1PA3
£60K03/210.58 mi5, Stretton Grove, Birmingham, West Midlands B8 2EF3
£245K06/230.59 mi278, St Margarets Road, Ward End, Birmingham, West Midlands B8 2RH3

Local Rents

51 rents from £950/mo to £3K/mo, average is £1.4K/mo.

RentDateDistanceAddressBeds 
£1,40012/240.3 mi-3
£1,28502/250.41 mi-3
£1,45002/250.58 mi-3
£1,40012/240.61 mi-3
£95012/240.62 miSouthern Road, BIRMINGHAM3
£1,20012/240.66 miGilpin Close, Birmingham, West Midlands, B83
£1,10003/250.68 mi-3
£1,60001/240.7 mi-3
£1,15010/230.72 mi-3
£1,40012/230.72 mi-3
£1,45003/240.72 mi-3
£1,05002/240.72 mi-3
£1,25003/250.74 mi-3
£1,25012/240.75 mi-3
£1,50012/240.76 mi-3
£95012/240.78 miHavelock Road, Saltley, BIRMINGHAM3
£1,20002/250.79 mi-3
£3,00003/240.8 mi-3
£1,10012/240.82 miTyburn Road, Erdington3
£1,50003/250.83 mi-3
£1,35003/240.88 mi-3
£1,35002/240.88 mi-3
£1,35003/240.88 mi-3
£1,35002/240.88 mi-3
£1,35002/240.88 mi-3
£1,35003/240.88 mi-3
£1,35003/240.88 mi-3
£1,35003/240.88 mi-3
£1,35003/240.88 mi-3
£1,35002/240.88 mi-3
£1,35012/240.88 mi-3
£1,35012/240.88 mi-3
£1,35012/240.88 mi-3
£1,35012/240.88 mi-3
£1,35012/240.88 mi-3
£1,35012/240.88 mi-3
£1,35012/240.88 mi-3
£1,35012/240.88 mi-3
£1,35012/240.88 mi-3
£1,35012/240.88 mi-3
£1,35012/240.88 mi-3
£1,35001/250.88 mi-3
£1,35002/250.88 mi-3
£1,35002/250.88 mi-3
£1,35002/250.88 mi-3
£1,35002/250.88 mi-3
£1,35002/250.88 mi-3
£1,35001/250.88 mi-3
£1,35002/250.88 mi-3
£1,25012/230.91 mi-3
£1,25012/230.91 mi-3

Local Area Statistics

Population in B8

42,227

Population in Birmingham

1,034,821

Town centre distance

2.87 miles away

Nearest school

0.30 miles away

Nearest train station

1.21 miles away

 

 

Rental growth (12m)

+10%

Sales demand

Balanced market

Capital growth (5yrs)

+48%

Property History

Listed for £220,000

January 21, 2025

Floor Plans

Description

  • Desirable Location - Close to local Amenities +
  • Large Garden with potential to extend (subject to planning) +
  • Ideal for First Time Buyers and Investors +
  • HS2 Train Station being built nearby +
  • Good size Family Home +

An excellent opportunity to acquire a three-bedroom semi-detached property located in a sought-after area of Birmingham. This home offers fantastic potential, ideal for first-time buyers, investors, or those looking to create their dream family home.

Key Features:
* Three bedrooms
* One bathroom
* One reception room
* Spacious kitchen
* Good-sized garden

The property is in need of modernisation, presenting the perfect blank canvas for refurbishment and personalisation.

Location Highlights:
Situated in a highly desirable area, the property benefits from excellent transport links, including proximity to the upcoming HS2 train station, making it a prime location for commuters. The neighborhood offers easy access to local amenities, schools, parks, and shopping facilities.

Don't miss out on this exciting opportunity to invest in a property with great potential in a thriving part of Birmingham.

Viewing is highly recommended.

TENURE

The property is freehold and will be sold with Vacant possesion.

AGENT NOTES

In need of modernisation. Tenants in Situ but will be vacating the property soon.

VIEWINGS

Please contact SBI estates for viewings.

BUYERS FEE

Buyer's Reservation Fee of 2% of The Purchase Price. Minimum Fee £2400. (All fees inclusive of VAT). T&Cs apply. SBI estates "Secure It Now Exclusivity Package" This property is being offered under SBI estates "Secure It Now Exclusivity Package"

Please request information pack, Buyer's Guide & FAQs.

You will be required to enter into an "Exclusivity Agreement" with the Seller, granting you the Buyer the Exclusive right to purchase the property within the exclusivity period.

Please note the Buyer's Fee is a non-refundable unconditional Exclusivity Fee in addition to the purchase price payable to the Agent upon offer acceptance.

The fee is not subject to a cooling off period and is non-refundable save in accordance with the terms stated in the exclusivity agreement

Buyers should carry out their own due diligence/ investigations and if required seek independent legal/ financial advice.

Anyone looking to purchase with finance must ensure that they can complete on the property and the property is suitable for their lender's criterial.

The Exclusivity fee is a non-refundable fee and unless otherwise stated and agreed in the special conditions of the Exclusivity Agreement, this is unconditional, not subject to survey or valuation , lending or anything else. The fee is not subject to a cooling off period and is non-refundable save in accordance with the terms stated in the exclusivity agreement

Upon offer acceptance you will not be required to exchange contracts, but will be granted an "exclusivity period" in order to exchange and complete on the transaction. This timescale will generally be 8 weeks, but will be specified in the Exclusivity agreement. (Please note we may be able to negotiate the timeframe, so please discuss with your SBI representative).

This is a flexible and buyer friendly method of purchase. By signing the Exclusivity Agreement and paying the Buyer's Fee, this secures the transaction and takes the property off the market.

By paying your fee, that amount may be considered as part of the chargeable consideration for the property and be included in the calculation for stamp duty land tax liability.

SBI Estate's "Secure It Now Exclusivity Package" - this is a legally binding agreement between you and the seller. When the offer is accepted, the buyer pays the Exclusivity Fee to the Agent and enters into an "Exclusivity agreement with the Seller", granting the buyer an exclusivity period, which is usually upto 8 weeks to complete on the purchase of the property. During the exclusivity period, the buyer has the exclusive right to purchase the property, no other offers can be accepted and during this period buyer must complete the sale transaction. If the buyer fails to complete in this period, the fee is non-refundable.

This property is being offered under SBI Estates "Secure It Now Exclusivity Package"

This is an innovative secure and straightforward way to purchase this property.

* Secure your dream property straight away

* Properties are realistically priced

* Similar to a "normal" or "conventional" sale with a few measures to protect the buyer and the seller

* Focuses on speed

* Mortgage buyer friendly

* Suitable for first time buyer

* Mortgage buyers and cash buyers compete on equal terms

* No competitive bidding

* No risk of being gazumped

* Minimises risk of fall throughs Secure It Now Exclusivity Package - How does it work?

Secure It Now Exclusivity Package - How does it work?

Our sellers are motivated and willing to price their properties competitively in order to ensure a fast and secure sale. You can now secure the purchase with a buyer's "Secure It Now Exclusivity fee " of 2% which includes :

* A legally binding contract granting the buyer exclusive rights to purchase the property within a given timeframe (usually 56 days / 8 weeks )

* Paying the Exclusivity Fee ensures that the seller takes their property off the market as soon as the sale is agreed and reserves it exclusively for you.

* This prevents the risk of gazumping

* helps you avoid losing money and wasting time which most buyers like you may face with the traditional estate agent's approach. * You get a fixed exclusivity period (approximately 8 weeks) to complete, safe in the knowledge that you will not be gazumped or outbid by another buyer.

Step 1 - Register your interest

Step 2 - Sort out your finances

Step 3 - Arrange a viewing / Virtual Tour

Step 4 - Make an offer

Step 5 - Secure your purchase using our buy and Secure It Now Exclusivity package

Step 6 - Exchange and completion Next Steps - Do Not Miss Out

- Please note this is a realistically priced property and is likely going to create a fair amount of buying interest. If you're interested in buying this property, we'd urge you to contact us immediately to avoid losing out.

Please note this is a non-refundable exclusivity fee in addition to the purchase price.

MONEY LAUNDERING REGULATIONS - Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale. 2: These particulars do not constitute part or all of an offer or contract. 3: The measurements indicated are supplied for guidance only and as such must be considered incorrect. 4: Potential buyers are advised to recheck the measurements before committing to any expense. 5: All descriptions, dimensions, references to condition and necessary permission for use and occupation, and other details are given without responsibility and any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as

Agent Details

SBI Estates, London

0121 817 7991

Next Steps?

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

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