2 Bed Terraced House, Refurb/BRRR, Accrington, BB5 2HP, £60,000

211 South Street, Accrington, BB5 2HP - 2 months ago

Leasehold
Auction
Refurb/BRRR
ROI: 4%
~68 m²
+10 photos

ValuationOvervalued

Sold Prices£40.2K - £780K
Sold Prices/m²£478/m² - £11.1K/m²

 

 

Square Metres

~68.11 m²
Price/m²£881/m²

Value Estimate

£58,756

 

 

End Value (After Refurb)

£80,986

Uplift in Value

+35%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£15,000

Stamp Duty & Legal Fees

£3,000

Refurb Costs

£28,876

Bridging Loan Interest

£1,575

Total Cash In

£50,201

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£80,986

Mortgage (After Refinance)

£60,739

Mortgage LTV

75%

Cash Released

£15,739

Cash Left In

£34,462

Equity

£20,246

Rent Range

£400 - £675

Rent Estimate

£565

Running Costs/mo

£386

Cashflow/mo

£179

Cashflow/yr

£2,147

ROI

4%

Gross Yield

11%

Local Sold Prices

50 sold prices from £40.2K to £780K, average is £75K. £478/m² to £11.1K/m², average is £988/m².

PriceDateDistanceAddressBeds 
£95K04/230.06 mi18, Russell Street, Accrington, Lancashire BB5 2NF2
£64K01/210.06 mi26, Russell Street, Accrington, Lancashire BB5 2NF2
£90K11/200.06 mi34, Lemonius Street, Accrington, Lancashire BB5 2LP2
£75K03/230.07 mi47, Nuttall Street, Accrington, Lancashire BB5 2HN2
£60K05/230.13 mi136, Royds Street, Accrington, Lancashire BB5 2LH2
£48.5K10/210.18 mi62, Belfield Road, Accrington, Lancashire BB5 2HH2
£49K05/210.18 mi64, Belfield Road, Accrington, Lancashire BB5 2HH2
£69.1K02/210.2 mi162, Wellington Street, Accrington, Lancashire BB5 2NJ2
£48K12/210.31 mi4, Major Street, Accrington, Lancashire BB5 0PN2
£64K09/210.31 mi8, Major Street, Accrington, Lancashire BB5 0PN2
£122K12/210.33 mi23, Barnfield Street, Accrington, Lancashire BB5 2AQ2
£101.5K12/200.33 mi12, Barnfield Street, Accrington, Lancashire BB5 2AQ2
£55.5K06/230.35 mi85, Richmond Hill Street, Accrington, Lancashire BB5 0PZ2
£150K12/200.37 mi121, Manchester Road, Accrington, Lancashire BB5 2NY2
£78K02/230.38 mi5, Percy Street, Accrington, Lancashire BB5 6TQ2
£72.5K05/210.38 mi45, Washington Street, Accrington, Lancashire BB5 6TF2
£90K04/230.41 mi17, Mansion Street South, Accrington, Lancashire BB5 6SH2
£120K06/210.42 mi6, Worsley Street, Accrington, Lancashire BB5 2PA2
£75K01/230.43 mi28, Bold Street, Accrington, Lancashire BB5 6RH2
£77K02/230.44 mi35, Richmond Hill Street, Accrington, Lancashire BB5 0QT2
£80K03/230.44 mi20, Hopwood Street, Accrington, Lancashire BB5 0QF2
£85K05/210.45 mi23, Bradford Street, Accrington, Lancashire BB5 6TB2
£280K12/200.46 miGully House, Henry Street, Accrington, Lancashire BB5 2PB2
£85K01/230.46 mi49, Cedar Street, Accrington, Lancashire BB5 6SQ2
£44K05/230.46 mi5, Garbett Street, Accrington, Lancashire BB5 0QJ2
£101K03/230.46 mi62, Oswald Street, Accrington, Lancashire BB5 6SJ2
£75K03/230.47 mi24, Water Street, Accrington, Lancashire BB5 6PX2
£57K10/210.47 mi78, Stanley Street, Accrington, Lancashire BB5 6PQ2
£54.5K02/210.47 mi111, Stanley Street, Accrington, Lancashire BB5 6PQ2
£92K03/230.47 mi83, Stanley Street, Accrington, Lancashire BB5 6PQ2
£65K04/230.47 mi54, Stanley Street, Accrington, Lancashire BB5 6PQ2
£60K07/230.48 mi92, Ormerod Street, Accrington, Lancashire BB5 0QG2
£780K04/210.48 mi13, Washington Street, Accrington, Lancashire BB5 6PH2
£80K04/230.49 mi39, Bold Street, Accrington, Lancashire BB5 6SW2
£61K02/230.55 mi72, Water Street, Accrington, Lancashire BB5 6QZ2
£40.2K02/230.55 mi8, Scaitcliffe Street, Accrington, Lancashire BB5 0RF2
£145.5K02/210.56 mi57, Oakwood Road, Accrington, Lancashire BB5 2PG2
£100K10/210.56 mi166, Bold Street, Accrington, Lancashire BB5 6SR2
£82K10/210.57 mi130, Willows Lane, Accrington, Lancashire BB5 0LN2
£60.5K11/200.57 mi124, Willows Lane, Accrington, Lancashire BB5 0LN2
£70K05/210.57 mi120, Willows Lane, Accrington, Lancashire BB5 0LN2
£43K05/210.6 mi31, Derby Street, Accrington, Lancashire BB5 1BP2
£85K08/210.61 mi134, Avenue Parade, Accrington, Lancashire BB5 6QB2
£90K07/230.61 mi200, Avenue Parade, Accrington, Lancashire BB5 6QB2
£61.5K11/210.61 mi54, Primrose Street, Accrington, Lancashire BB5 0HU2
£46K10/210.61 mi10, Hood Street, Accrington, Lancashire BB5 1BW2
£56K06/230.61 mi31, Hood Street, Accrington, Lancashire BB5 1BW2
£78K02/210.62 mi117, Avenue Parade, Accrington, Lancashire BB5 6QA2
£57K04/230.62 mi137, Avenue Parade, Accrington, Lancashire BB5 6QA2
£89K12/200.63 mi153, Bold Street, Accrington, Lancashire BB5 6SS2

Local Rents

24 rents from £400/mo to £675/mo, average is £595/mo.

RentDateDistanceAddressBeds 
£40012/240 miSouth Street, Accrington, BB52
£67503/250.01 mi-2
£59512/240.02 miBishop Street, Accrington, Lancashire, BB52
£59512/240.02 miSouth Street, Accrington2
£55012/240.05 miClement Street, Accrington, Lancashire, BB52
£63012/240.05 miWoodnook2
£45012/240.15 mi-2
£50002/250.16 mi-2
£49512/240.27 mi3a Cross StreetAccringtonLancashire2
£65003/250.3 mi-2
£55002/240.32 mi-2
£55012/240.32 miLee Street, Accrington, Lancashire, BB52
£55012/240.39 miBlackburn Road,Accrington,BB52
£55001/240.4 mi-2
£45012/240.41 mi-2
£59512/240.43 miOswald Street, Accrington2
£52512/240.46 miEagle Street , Accrington, Lancashire, BB52
£60003/250.49 mi-2
£65002/250.49 mi-2
£65012/240.5 miOswald Street, Accrington, Lancashire, BB52
£60012/240.51 miWater Street, Accrington2
£59512/240.53 mi-2
£65002/250.53 mi-2
£67012/240.57 mi-2

Local Area Statistics

Population in BB5

61,415

Town centre distance

0.17 miles away

Nearest school

0.10 miles away

Nearest train station

0.49 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+21%

Sales demand

Seller's market

Capital growth (5yrs)

+23%

Property History

Listed for £60,000

January 27, 2025

Floor Plans

Description

  • Terraced Property +
  • Two Bedrooms +
  • Spacious Reception Room +
  • Fitted Kitchen +
  • Three Piece Bathroom +
  • Enclosed Rear Yard +
  • On Street Parking +
  • Leasehold +
  • Council Tax Band: A +
  • EPC Rating: TBC +

SPACIOUS TERRACED HOME

To be sold via online auction - powered by The Auction Group

Nestled on the charming South Street in Accrington, this delightful house presents an excellent opportunity for first-time buyers seeking a welcoming home. The property is conveniently located near a variety of local amenities, ensuring that everyday necessities are just a stone's throw away.

Upon entering, you will find that the house is in good condition, making it a comfortable and inviting space to settle into without the immediate need for extensive renovations. This allows you to focus on personalising your new home to reflect your own style and preferences.

The surrounding area boasts a friendly community atmosphere, perfect for those looking to establish roots in a vibrant neighbourhood. With its ideal location and well-maintained condition, this property is a fantastic choice for anyone looking to embark on their journey into homeownership.

Do not miss the chance to view this lovely house on South Street, where comfort and convenience await.

To be sold via Online Auction, via unconditional terms, completion strictly within 28 days
Bidding window opens - TBC
Auction Ends- TBC
Starting price - £60000 (Reserve price is higher & unpublished)
Fees
All fees are payable by banks transfer only (we do not take card payments )
Buyers premium - Please note that there is a buyers premium that applies to this lot please check the legal, payable by the buyer within 2 hours of winning the auction. The buyers premium does not constitute part of the sale price, this is the auctioneers fee and is to be paid over and above the sale price paid to the vendor.
Searches - searches have been ordered and will be made available for download from The Auction Groups website prior to bidding taking place.

Ground Floor -

Vestibule - 0.91m x 0.91m (3' x 3') - UPVC entrance door, hardwood single glazed window and door to reception room.

Reception Room - 5.11m x 4.06m (16'9 x 13'4) - UPVC double glazed window, central heating radiator, spotlights, wood effect flooring, stairs to first floor and door to kitchen.

Kitchen - 4.06m x 3.07m (13'4 x 10'1) - UPVC double glazed window, spotlights, gloss wall and base units, wood effect worktops, integrated double oven in high rise unit, five burner gas hob, extractor hood, one and half bowl composite sink with draining board and mixer tap, space for American style fridge freezer, integrated dishwasher, plumbing for washing machine, wood effect flooring and UPVC door to rear.

First Floor -

Landing - 2.54m x 1.75m (8'4 x 5'9) - Spotlights and doors to two bedrooms and bathroom.

Bedroom One - 4.39m x 4.04m (14'5 x 13'3) - UPVC double glazed window, central heating radiator and spotlights.

Bedroom Two - 4.09m x 1.52m (13'5 x 5') - UPVC double glazed window and central heating radiator.

Bathroom - 2.18m x 2.03m (7'2 x 6'8) - UPVC double glazed frosted window, central heated towel rail, spotlights, dual flush WC, wall mounted wash basin with mixer tap, corner panel Jacuzzi bath with mixer tap and rinse head, part tiled elevation and tiled floor.

External -

Rear - Paved yard, raised bedding areas and outbuilding.

Need A Mortgage? - Well look no further, Keenans can connect you with our in-house team at Gordon Anthony Mortgages. With access to a whole of market comprehensive range of mortgage products to meet your needs. From high street lenders, regional building societies and intermediary-only lenders – they’ve got you covered and will help find you the best rate and could save you thousands over the course of your mortgage.

Call today to find out more!

Your home may be repossessed if you do not keep up repayments on your mortgage.

Agent Details

Keenans Estate Agents, Swinton

0161 524 5515

Next Steps?

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