2 Bed Terraced House, Refurb/BRRR, Birmingham, B32 3TP, £156,800

Foredraft Close, Birmingham, West Midlands, B32 3TP - 1 views - 2 months ago

Sold STC

Refurb/BRRR

ROI: 4%

~68 m²

+4 photos

ValuationOvervalued

Sold Prices	£116K - £265K
Sold Prices/m²	£1.6K/m² - £3.5K/m²

Square Metres	~68.11 m²
Price/m²	£2.3K/m²
Value Estimate	£153,250£153,250

End Value (After Refurb)	£154,000£154,000

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£39,200£39,200
Stamp Duty & Legal Fees	£5,904£5,904
Refurb Costs	£26,951£26,951
Bridging Loan Interest	£4,116£4,116
Total Cash In	£77,921£77,921

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£154,000£154,000
Mortgage (After Refinance)	£115,500£115,500
Mortgage LTV	75%75%
Cash Left In	£77,921£77,921
Equity	£38,500£38,500
Rent Range	£750 - £1,400£750 - £1,400
Rent Estimate	£959
Running Costs/mo	£693£693
Cashflow/mo	£266£266
Cashflow/yr	£3,191£3,191
ROI	4%4%
Gross Yield	7%7%

Local Sold Prices

50 sold prices from £116K to £265K, average is £165.3K. £1.6K/m² to £3.5K/m², average is £2.2K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£170K	01/23	0.14 mi	9, Simcox Gardens, Birmingham, West Midlands B32 3RX	-	-	2	Terraced House
£233K	01/24	0.17 mi	66, Clover Drive, Birmingham, West Midlands B32 3DJ	£3,530	66	2	Bungalow
£125K	02/21	0.19 mi	92, County Close, Woodgate, Birmingham, West Midlands B32 3SZ	£1,645	76	2	Terraced House
£146K	11/21	0.19 mi	61, Warston Avenue, Birmingham, West Midlands B32 3ST	-	-	2	Terraced House
£170K	04/23	0.22 mi	214, Sommerfield Road, Birmingham, West Midlands B32 3TA	£2,237	76	2	Terraced House
£160K	11/22	0.25 mi	25, Tibbats Close, Birmingham, West Midlands B32 3TE	£1,905	84	2	Terraced House
£160K	09/23	0.27 mi	66, Ralphs Meadow, Woodgate Valley, Birmingham, West Midlands B32 3RW	£2,078	77	2	Terraced House
£124K	11/21	0.36 mi	30, Rushy Piece, Birmingham, West Midlands B32 3SL	£1,632	76	2	Terraced House
£255K	01/24	0.38 mi	19, Pomeroy Road, Bartley Green, Birmingham, West Midlands B32 3EH	£3,470	73	2	Bungalow
£180K	11/22	0.42 mi	4, Bickington Road, Birmingham, West Midlands B32 3EY	£2,571	70	2	Terraced House
£160K	05/23	0.43 mi	33, Tamerton Road, Birmingham, West Midlands B32 3HF	£2,078	77	2	Terraced House
£140K	11/20	0.46 mi	318, Stonehouse Lane, Quinton, Birmingham, West Midlands B32 3AL	£1,964	71	2	Semi-Detached House
£238K	01/23	0.46 mi	340, Stonehouse Lane, Quinton, Birmingham, West Midlands B32 3AL	£3,111	77	2	Terraced House
£135K	09/23	0.56 mi	74, Culford Drive, Birmingham, West Midlands B32 3JH	£2,213	61	2	Terraced House
£185K	01/24	0.56 mi	52, Culford Drive, Birmingham, West Midlands B32 3JH	£2,534	73	2	Terraced House
£200K	05/23	0.56 mi	41, Romsley Road, Birmingham, West Midlands B32 3PR	£2,740	73	2	Semi-Detached House
£167.5K	11/20	0.57 mi	130, Mill Lane, Quinton, Birmingham, West Midlands B32 3BE	£2,175	77	2	Terraced House
£150K	07/21	0.58 mi	328, Adams Hill, Birmingham, West Midlands B32 3PD	-	-	2	Semi-Detached House
£175K	04/24	0.6 mi	30, Romsley Road, Birmingham, West Midlands B32 3PS	£2,188	80	2	Terraced House
£186K	01/21	0.6 mi	1, Pine Woods, Bartley Green, Birmingham, West Midlands B32 3RD	£3,321	56	2	Terraced House
£193K	09/23	0.61 mi	127, Mill Lane, Quinton, Birmingham, West Midlands B32 3BB	£2,573	75	2	Detached House
£142K	11/21	0.61 mi	55, Offmoor Road, Birmingham, West Midlands B32 3PT	£1,919	74	2	Semi-Detached House
£178K	01/23	0.62 mi	20, Millmead Road, Bartley Green, Birmingham, West Midlands B32 3AX	-	-	2	Terraced House
£222K	12/23	0.62 mi	31, Millmead Road, Bartley Green, Birmingham, West Midlands B32 3AX	-	-	2	Semi-Detached House
£150K	02/21	0.63 mi	27, Millmead Road, Birmingham, West Midlands B32 3AX	£2,083	72	2	Semi-Detached House
£151K	03/21	0.63 mi	66, Offmoor Road, Birmingham, West Midlands B32 3PY	£1,911	79	2	Semi-Detached House
£163K	12/23	0.63 mi	148, Simmons Drive, Quinton, Birmingham, West Midlands B32 1SS	£2,063	79	2	Terraced House
£190K	10/23	0.66 mi	31, Field Lane, Bartley Green, Birmingham, West Midlands B32 3JT	-	-	2	Terraced House
£137.5K	03/24	0.68 mi	27, Milebrook Grove, Birmingham, West Midlands B32 4EP	£1,866	74	2	Terraced House
£142K	03/24	0.68 mi	28, Ludford Road, Birmingham, West Midlands B32 3PG	£1,919	74	2	Terraced House
£151K	09/21	0.7 mi	31, Lye Avenue, Birmingham, West Midlands B32 3UE	-	-	2	Terraced House
£175K	10/23	0.71 mi	33, Woodgate Lane, Birmingham, West Midlands B32 3QU	£1,716	102	2	Terraced House
£116K	07/23	0.71 mi	243, Highfield Lane, Quinton, Birmingham, West Midlands B32 1RT	-	-	2	Terraced House
£148K	01/24	0.72 mi	8, Woodgate Lane, Birmingham, West Midlands B32 3QY	£1,922	77	2	Terraced House
£152.5K	05/21	0.73 mi	31, Overfield Road, Birmingham, West Midlands B32 3BA	-	-	2	Semi-Detached House
£185K	02/23	0.74 mi	179, Field Lane, Bartley Green, Birmingham, West Midlands B32 4HL	-	-	2	Terraced House
£188.8K	08/23	0.74 mi	227, Quinton Road West, Quinton, Birmingham, West Midlands B32 2RJ	-	-	2	Terraced House
£151K	04/21	0.79 mi	11, Allwood Gardens, Birmingham, West Midlands B32 3UA	£1,961	77	2	Terraced House
£265K	05/24	0.82 mi	122, Senneleys Park Road, Birmingham, West Midlands B31 1AN	£3,193	83	2	Bungalow
£195K	04/23	0.83 mi	223, Overdale Road, Quinton, Birmingham, West Midlands B32 2RD	£2,793	70	2	Semi-Detached House
£122K	10/23	0.84 mi	73, Woodgate Gardens, Birmingham, West Midlands B32 3UW	-	-	2	Terraced House
£141.5K	11/20	0.85 mi	7, Lygon Grove, Quinton, Birmingham, West Midlands B32 2RA	£2,398	59	2	Semi-Detached House
£144K	02/23	0.85 mi	20, Lygon Grove, Quinton, Birmingham, West Midlands B32 2RA	-	-	2	Semi-Detached House
£215K	10/23	0.86 mi	51, Nailers Close, Birmingham, West Midlands B32 3QR	-	-	2	Terraced House
£135K	11/20	0.86 mi	21, Nailers Close, Birmingham, West Midlands B32 3QR	£2,647	51	2	Terraced House
£193K	02/23	0.86 mi	29, Nailers Close, Birmingham, West Midlands B32 3QR	£3,088	63	2	Semi-Detached House
£158K	01/21	0.87 mi	12, The Rookery, Halesowen, West Midlands B62 0QD	£2,548	62	2	Semi-Detached House
£207K	02/23	0.88 mi	79, Moors Lane, Birmingham, West Midlands B31 1DG	£3,185	65	2	Semi-Detached House
£173K	08/23	0.93 mi	8, Dufton Road, Quinton, Birmingham, West Midlands B32 2PZ	-	-	2	Terraced House
£212K	02/23	0.93 mi	12a, Shenley Fields Drive, Birmingham, West Midlands B31 1XH	£3,313	64	2	Semi-Detached House

Local Rents

39 rents from £750/mo to £1.4K/mo, average is £950/mo.

Rent	Date	Distance	Address	Beds	Type
£800	03/25	0.2 mi	-	2	Flat
£1,100	12/24	0.41 mi	-	2	Terraced House
£850	12/24	0.42 mi	The Hill, Quinton, Birmingham	2	Flat
£1,200	12/24	0.51 mi	Heathy Farm Close, Bartley Green, Birmingham	2	Terraced House
£925	12/24	0.53 mi	Culford Drive, Birmingham, West Midlands, B32	2	Terraced House
£925	01/25	0.56 mi	-	2	Flat
£950	01/25	0.63 mi	-	2	Semi-Detached House
£950	12/24	0.63 mi	-	2	Semi-Detached House
£1,000	12/24	0.65 mi	-	2	Terraced House
£975	03/25	0.73 mi	-	2	Semi-Detached House
£925	12/24	0.83 mi	-	2	Terraced House
£950	12/24	0.83 mi	-	2	Terraced House
£925	12/24	0.83 mi	-	2	Terraced House
£925	12/24	0.83 mi	-	2	Terraced House
£950	01/25	0.83 mi	-	2	Terraced House
£950	01/25	0.83 mi	-	2	Terraced House
£950	01/25	0.83 mi	-	2	Terraced House
£1,050	12/24	0.88 mi	Quinton Road West, Birmingham, West Midlands, B32	2	Flat
£1,095	12/24	0.88 mi	Quinton Road West, Birmingham, West Midlands, B32	2	Flat
£900	02/25	0.92 mi	-	2	Terraced House
£1,000	12/24	0.93 mi	Worlds End Lane, Quinton	2	Flat
£975	12/24	0.93 mi	Worlds End Lane, Quinton	2	Flat
£1,100	12/24	0.93 mi	Worlds End Lane, Quinton	2	Flat
£975	12/24	0.93 mi	Worlds End Lane, Quinton	2	Flat
£1,100	12/24	0.93 mi	Worlds End Lane, Quinton	2	Flat
£1,100	12/24	0.93 mi	Dufton Road, Quinton, BIRMINGHAM	2	Flat
£1,050	02/24	0.94 mi	-	2	Terraced House
£850	03/25	0.97 mi	-	2	Flat
£1,400	02/25	1.04 mi	-	2	Semi-Detached House
£825	12/24	1.05 mi	Clent Way, Bartley Green	2	Flat
£825	12/24	1.07 mi	Clent Way, Bartley Green	2	Flat
£795	12/24	1.08 mi	Flat 4, 127 Kitwell Lane, Bartley Green, West Midlands, B32 4np	2	Flat
£750	12/24	1.08 mi	Flat 4, 127 Kitwell Lane, Bartley Green, West Midlands, B32 4np	2	Flat
£925	12/24	1.08 mi	Blandford Road, Quinton, Birmingham, B32 2LP	2	Terraced House
£900	12/24	1.1 mi	Hopstone Road, Selly Oak, B29	2	Flat
£750	12/24	1.15 mi	Beckbury Road, Weoley Castle	2	Flat
£800	12/24	1.21 mi	Castle Road, Bartley Green, Birmingham, West Midlands, B29	2	Detached House
£950	02/24	1.23 mi	-	2	Terraced House
£950	02/24	1.24 mi	-	2	Terraced House

Local Area Statistics

Population in B32	38,35638,356
Population in Birmingham	1,034,8211,034,821
Town centre distance	5.09 miles away5.09 miles away
Nearest school	0.10 miles away0.10 miles away
Nearest train station	2.56 miles away2.56 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+5%+5%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+35%+35%

Property History

Listed for £156,800

January 28, 2025

Floor Plans

Description

FOREDRAFT CLOSE +
FREEHOLD +
TENANT IN SITU until May 2025 +
Private rear garden +
In need of modernisation +
Driveway & Garage +
No Chain +

Full Description Davidson Estates are delighted to bring to the market this two-bedroom property set over two floors. The property offers an abundance of space in a fantastic location, making this the perfect family home.

The property comprises of a large rear reception room: separate kitchen/diner: private rear garden and patio: a spacious family bathroom, and two double bedrooms. Double glazed throughout.

This property is in need of some modernisation.

The property is situated in a very popular residential area, with Newman University and Queen Elizabeth Hospital close at hand. Woodgate Valley Country Park and local amenities are also within a quarter of a mile.

IMPORTANT:
Tenure: FREEHOLD
No Chain
AST expires 11th May 2025
EPC Rating: D
Council Tax Band: B
Currently managed exclusively with Davidson Estates.

Agent Details

Davidson Estates, Edgbaston - HQ

0121 387 6789

Next Steps?

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

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