3 Bed Flat, Refurb/BRRR, Swansea, SA1 8BE, £60,000

Flat B, 57 Morris Lane, St. Thomas, Swansea, SA1 8BE - 9 views - 2 months ago

Auction
Refurb/BRRR
ROI: 11%
~93 m²
+18 photos

ValuationFair Value

Sold Prices£60K - £367K
Sold Prices/m²£952/m² - £2.6K/m²

 

 

Square Metres

~93 m²
Price/m²£645/m²

Value Estimate

£61,200

 

 

End Value (After Refurb)

£149,519

Uplift in Value

+149%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£15,000

Stamp Duty & Legal Fees

£3,000

Refurb Costs

£38,000

Bridging Loan Interest

£1,575

Total Cash In

£59,325

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Estimated Sale Price

£149,519

Agent Fees (1%)

£1,495

Bridging Loan

£45,000

Bridging Loan Interest

£1,575

Flip Profit

£43,699

Local Sold Prices

14 sold prices from £60K to £367K, average is £150K. £952/m² to £2.6K/m², average is £2K/m².

PriceDateDistanceAddressBeds 
£290K08/210.48 mi55, Pocketts Wharf, Maritime Quarter, Swansea SA1 3XL3
£75K04/211.45 mi8, Brondeg Crescent, Manselton, Swansea SA5 8QA3
£140K08/221.92 miFlat 4, Glanmor Mews, Glanmor Road, Sketty, Swansea SA2 0RN3
£367K11/222.1 mi16, Rembrandt Court, Swansea SA2 9FG3
£168K07/232.3 mi9, Downs Close, Fforestfach, Swansea SA5 5AL3
£185.3K04/212.36 mi91, Cefn Hengoed Road, Winch Wen, Swansea SA1 7LQ3
£140K05/212.6 mi21, Pine Tree Court, Sketty, Swansea SA2 9AF3
£195K06/232.6 mi24, Pine Tree Court, Sketty, Swansea SA2 9AF3
£121K12/212.79 mi7, Whitethorn Place, Sketty, Swansea SA2 8HR3
£114K03/232.8 mi4, Furzeland Drive, Sketty, Swansea SA2 8HP3
£60K10/202.82 mi27, Pengwern Road, Clase, Swansea SA6 7LJ3
£210K07/222.82 mi9, Byng Morris Close, Sketty, Swansea SA2 8LU3
£159.9K10/202.82 mi6, Lon Heddwch, Llansamlet, Swansea SA7 9UY3
£115K06/212.87 mi1, Bay Tree Avenue, Sketty, Swansea SA2 8JN3

Local Rents

21 rents from £850/mo to £2K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£90012/230.12 mi-3
£1,05008/240.12 mi-3
£1,09508/240.13 miBalaclava St, St Thomas, Swansea3
£1,27508/240.14 miBay View, St Thomas, Swansea3
£1,05008/240.16 miSebastopol Street, St Thomas, Swansea3
£95008/240.17 miElmhurst Crescent, St. Thomas3
£1,08008/240.2 miLewis Street, St Thomas, Swansea3
£98007/240.32 mi-3
£1,00008/240.37 miMiddleton Street, St. Thomas, SWANSEA3
£99508/240.39 mi-3
£1,30004/250.43 mi-3
£1,50008/240.48 mi-3
£1,50008/240.48 miPocketts Wharf, Maritime Quarter, Swansea, SA13
£1,90008/240.48 miHigh Street, SWANSEA3
£1,90008/240.48 miHigh Street, SWANSEA3
£2,00002/250.5 mi-3
£2,00003/250.5 mi-3
£95004/240.55 mi-3
£1,05002/250.55 mi-3
£85004/250.58 mi-3
£1,05008/240.61 miGraig Terrace, Mount Pleasant, Swansea3

Local Area Statistics

Population in SA1

47,355

Population in Swansea

269,408

Town centre distance

2.29 miles away

Nearest school

0.10 miles away

Nearest train station

0.40 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

-7%

Sales demand

Seller's market

Capital growth (5yrs)

+17%

Property History

Listed for £60,000

February 4, 2025

Description

  • 3 bedroom Maisonette +
  • Ideally Situated To All Local Amenities And Transport Links +
  • First Floor Three Bedroom Apartment +
  • In Need Of Complete Refurbishment Throughout +
  • City Centre And Sea Views +
  • Auction 26.2.25 +

**Guide Price £60,000 * Plus 5% Buyers Premium + VAT

For sale by unconditional online auction on the 26th of March 2025.

Registration is now open, bidding opens on 26th of March at 10:00 and ends on 26th of March at 12:00.**

Guide Price £60,000
Auction 26.2.25
BLOCK VIEWING DATES -
Saturday 8th February at 12pm
Thursday 13th February at 2.30pm

Contact us for more information

Flat B, 57 Morris Lane is a first-floor, three-bedroom apartment located in the popular area of St Thomas.

Description
Flat B, 57 Morris Lane is a first-floor, three-bedroom apartment located in the popular area of St Thomas. This property presents an exciting opportunity for investors or those looking to put their personal stamp on a property, as it requires further upgrading and modernisation throughout. Key Features: Three Bedrooms First-Floor apartment with good size living space, ideally situated Close to Local Amenities and Transport Links.

Great Investment Potential with a little vision and effort, this property could be transformed into a modern and desirable home or a lucrative rental asset. The apartment's size and layout, combined with its central location, offers substantial potential for future value growth. Morris Lane is ideally situated in St Thomas, with easy access to local shops, schools, and transport links, including bus routes and major roads. The area offers a great blend of residential comfort and convenience, making it a sought-after location for tenants or potential buyers. Providing a fantastic opportunity for both investors and homebuyers alike.

Legal Pack
A legal pack is a collaboration of important documents of the property or land that is going to be sold at auction. To review the legal pack, click the Legal Documents button at the bottom of this advert or visit tcpa.co.uk.

Auction Information.
To view the auction information, click the Online Bidding button at the bottom of this advert or visit tcpa.co.uk.

UNCONDITIONAL LOT Buyers Premium Applies Upon the fall of the hammer, the Purchaser shall pay a 5% deposit and a 5%+VAT (subject to a minimum of £5,000+VAT) buyers premium and contracts are exchanged. The purchaser is legally bound to buy and the vendor is legally bound to sell the Property/Lot. The auction conditions require a full legal completion 28 days following the auction (unless otherwise stated).

Pre Auction Offers Are Considered
The seller of this property may consider a pre-auction offer prior to the auction date. All auction conditions will remain the same for pre-auction offers which include but are not limited to, the special auction conditions which can be viewed within the legal pack, the Buyer's Premium, and the deposit. To make a pre-auction offer we will require two forms of ID, proof of your ability to purchase the property and complete our auction registration processes online. To find out more information or to make a pre-auction offer please contact us.

Special Conditions
Any additional costs will be listed in the Special Conditions within the legal pack and these costs will be payable on completion. The legal pack is available to download free of charge under the LEGAL DOCUMENTS'. Any stamp duty and/or government taxes are not included within the Special Conditions within the legal pack and all potential buyers must make their own investigations.

Agent Details

Town & Country Property Auctions, Oswestry

0117 463 3986

Next Steps?

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