2 Bed Semi-Detached House, Refurb/BRRR, Wolverhampton, WV4 4LQ, £140,000

Warstones Crescent, Penn, Wolverhampton, WV4 4LQ - 5 views - 3 months ago

Sold STC
Auction
Refurb/BRRR
ROI: 8%
~68 m²
+6 photos

ValuationFair Value

Sold Prices£102K - £590K
Sold Prices/m²£1.6K/m² - £6.3K/m²

 

 

Square Metres

~68.11 m²
Price/m²£2.1K/m²

Value Estimate

£140,000

 

 

End Value (After Refurb)

£158,209

Uplift in Value

+13%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£35,000

Stamp Duty & Legal Fees

£5,400

Refurb Costs

£26,951

Bridging Loan Interest

£3,675

Total Cash In

£72,776

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£158,209

Mortgage (After Refinance)

£118,657

Mortgage LTV

75%

Cash Released

£13,657

Cash Left In

£59,120

Equity

£39,552

Rent Range

£550 - £4,300

Rent Estimate

£1,259

Running Costs/mo

£766

Cashflow/mo

£493

Cashflow/yr

£5,914

ROI

8%

Gross Yield

11%

Local Sold Prices

47 sold prices from £102K to £590K, average is £190K. £1.6K/m² to £6.3K/m², average is £2.9K/m².

PriceDateDistanceAddressBeds 
£203K02/210.12 mi180, Warstones Road, Penn, Wolverhampton, West Midlands WV4 4LF2
£235K10/230.15 mi235, Warstones Road, Penn, Wolverhampton, West Midlands WV4 4LE2
£217K03/230.19 mi18, Hollybush Lane, Wolverhampton, West Midlands WV4 4JJ2
£170K04/210.19 mi20, Hollybush Lane, Wolverhampton, West Midlands WV4 4JJ2
£232.5K02/230.21 mi12, Orton Grove, Wolverhampton, West Midlands WV4 4JN2
£170K06/210.21 mi12, Orton Grove, Wolverhampton, West Midlands WV4 4JN2
£186K06/210.29 mi255, Warstones Road, Penn, Wolverhampton, West Midlands WV4 4LA2
£230K01/240.31 mi30, Braden Road, Wolverhampton, West Midlands WV4 4JL2
£220K12/210.31 mi20, Braden Road, Wolverhampton, West Midlands WV4 4JL2
£102K12/220.44 mi23, Warstones Gardens, Wolverhampton, West Midlands WV4 4PD2
£162.5K05/210.44 mi186, Pinfold Lane, Penn, Wolverhampton, West Midlands WV4 4HB2
£339.9K06/230.46 mi10, Norton Close, Wolverhampton, West Midlands WV4 4SL2
£252K06/230.56 mi39, Lancaster Gardens, Wolverhampton, West Midlands WV4 4DN2
£225K11/230.56 mi8, Lancaster Gardens, Wolverhampton, West Midlands WV4 4DN2
£590K12/220.58 mi1, Springhill Park, Wolverhampton, Staffordshire WV4 4TS2
£265K09/230.6 mi5, Church Hill, Penn, Wolverhampton, West Midlands WV4 5NP2
£285K08/230.6 mi9, Church Hill, Penn, Wolverhampton, West Midlands WV4 5NP2
£220K04/210.6 mi7, Church Hill, Penn, Wolverhampton, West Midlands WV4 5NP2
£223K02/210.61 mi20, Trimpley Gardens, Wolverhampton, West Midlands WV4 5PQ2
£180K09/230.63 mi19, New Street, Merry Hill, Wolverhampton, West Midlands WV3 7NW2
£300K11/220.66 mi5, Laurel Grove, Wolverhampton, West Midlands WV3 7HJ2
£319.9K11/220.68 mi2, Hopstone Gardens, Penn, Wolverhampton, West Midlands WV4 4DD2
£260K10/210.68 mi13a, Hopstone Gardens, Penn, Wolverhampton, West Midlands WV4 4DD2
£225K05/210.7 mi9, Bhylls Lane, Wolverhampton, West Midlands WV3 8DH2
£149.9K04/210.76 mi14, Butts Road, Penn, Wolverhampton, West Midlands WV4 5QD2
£139.9K03/210.76 mi11, Butts Road, Penn, Wolverhampton, West Midlands WV4 5QD2
£190K08/230.76 mi15, Butts Road, Penn, Wolverhampton, West Midlands WV4 5QD2
£175K04/230.77 mi3, Bearnett Drive, Wolverhampton, Staffordshire WV4 5NN2
£160K05/210.81 mi13, Swan Bank, Penn, Wolverhampton, West Midlands WV4 5QE2
£183.5K11/230.81 mi8, Swan Bank, Penn, Wolverhampton, West Midlands WV4 5QE2
£166K12/220.81 mi16, Swan Bank, Penn, Wolverhampton, West Midlands WV4 5QE2
£190K11/200.81 mi47, Rowan Crescent, Wolverhampton, West Midlands WV3 7HN2
£197K11/230.81 mi19, Rowan Crescent, Wolverhampton, West Midlands WV3 7HN2
£292.5K09/210.82 mi37, Wakeley Hill, Penn, Wolverhampton, West Midlands WV4 5RA2
£165K04/210.83 mi54, Rowan Crescent, Wolverhampton, West Midlands WV3 7HL2
£170K02/210.83 mi58, Rowan Crescent, Wolverhampton, West Midlands WV3 7HL2
£168K01/210.85 mi67, Swan Bank, Penn, Wolverhampton, West Midlands WV4 5PZ2
£271K02/210.86 mi28, Manor Road, Penn, Wolverhampton, West Midlands WV4 5PY2
£178K09/230.89 mi3, Worfield Gardens, Penn Fields, Wolverhampton, West Midlands WV3 7EL2
£220K03/210.89 mi26, Orchard Crescent, Wolverhampton, West Midlands WV3 8DS2
£165K10/230.93 mi76, Victoria Road, Bradmore, Wolverhampton, West Midlands WV3 7EU2
£170K06/210.93 mi34, Victoria Road, Bradmore, Wolverhampton, West Midlands WV3 7EU2
£159.9K06/210.93 mi53, Victoria Road, Bradmore, Wolverhampton, West Midlands WV3 7EU2
£215K11/230.94 mi27, Oxbarn Avenue, Wolverhampton, West Midlands WV3 7HD2
£163.5K11/210.94 mi96, Church Road, Bradmore, Wolverhampton, West Midlands WV3 7EW2
£140K03/210.94 mi98, Church Road, Bradmore, Wolverhampton, West Midlands WV3 7EW2
£185K01/230.98 mi28, Church Road, Bradmore, Wolverhampton, West Midlands WV3 7ER2

Local Rents

50 rents from £550/mo to £4.3K/mo, average is £1.2K/mo.

RentDateDistanceAddressBeds 
£55011/240.09 mi-1
£1,40011/240.11 miFairview Road, Wolverhampton3
£1,40011/240.11 miFairview Road, Penn, WOLVERHAMPTON3
£65011/240.12 miWynchcombe Avenue, Penn, Wolverhampton1
£77504/250.13 mi-1
£75004/250.17 mi-1
£1,25011/240.22 mi-3
£1,00011/240.23 miWynchcombe Avenue, Penn2
£1,20011/240.23 mi-3
£92511/240.33 miBraden Road, Penn, Wolverhampton2
£1,50011/240.35 mi-4
£1,15001/240.37 mi-3
£1,49511/240.43 miPinfold Lane, Wolverhampton, WV44
£1,30011/240.47 miGlade Gardens, Warstones, Wolverhampton3
£75002/250.6 mi-2
£1,30011/240.64 mi-3
£1,45002/250.64 mi-3
£67512/240.65 mi-1
£1,30011/240.72 mi23 Brenton Road, Penn, Wolverhampton3
£65011/240.72 mi-1
£80004/250.73 mi-2
£1,50012/240.8 mi-3
£87511/240.8 miSwan Bank, Wolverhampton3
£1,29511/240.83 miWakeley Hill, Penn, Wolverhampton3
£1,30002/250.89 mi-3
£1,59504/250.92 mi-4
£1,40011/240.94 mi19A Woodfield Avenue, Penn3
£90011/240.94 mi4 Magnolia Court, Muchall Road, Penn2
£89902/250.94 mi-2
£2,65011/240.96 mi-6
£1,40002/250.97 mi-3
£2,95011/240.98 mi7 Great Hall Grove, Penn6
£97511/241.01 mi1 Bamber Close, Bradmore, Wolverhampton3
£1,30011/241.03 mi-3
£2,70004/251.03 mi-3
£85003/251.05 mi-2
£61411/241.06 mi-2
£1,35012/241.06 mi-3
£1,35004/251.06 mi-3
£1,95011/241.06 miShowell Lane, Lower Penn, WV44
£69011/241.07 mi-1
£69504/251.07 mi-1
£1,09502/251.08 mi-3
£4,30004/251.11 mi-5
£1,20012/241.11 mi-3
£1,75011/241.15 mi-4
£1,75001/251.15 mi-4
£72504/251.17 mi-1
£1,20011/241.21 mi25 Market Lane, Lower Penn3
£1,19502/241.21 mi-3

Local Area Statistics

Population in WV4

34,295

Population in Wolverhampton

260,353

Town centre distance

1.74 miles away

Nearest school

0.10 miles away

Nearest train station

2.46 miles away

 

 

Rental growth (12m)

+30%

Sales demand

Balanced market

Capital growth (5yrs)

+39%

Property History

Listed for £140,000

February 11, 2025

Floor Plans

Description

  • With huge cosmetic potential! +
  • Sought after residential area +
  • Two large double bedrooms +
  • Driveway accommodating parking for a minimum of two vehicles +
  • Garden outbuilding +
  • No upward chain +
  • Vacant possession +
  • The property will make a fantastic home for a growing family +
  • Sitting close to a host of local amenities, schools and transport links +
  • A genuine must see home! +

Call us 9AM - 9PM - 7 days a week, 365 days a year! If you're looking for a fantastic cosmetic project in a sought after residential area offering generous room dimensions throughout, look no further than this wonderful two bedroom semi-detached home on Warstones Crescent! Briefly offering an entrance hallway, living room, dining room, kitchen, first floor landing, two large double bedrooms, a large family bathroom, enclosed rear garden including an outbuilding and a driveway to front accommodating parking for a minimum of two vehicles. The property has huge capital growth potential upon renovation works and is a must see for any property investor or small family looking for a project to make their own! The Location & Area  Set to the south west of Wolverhampton City Centre in the Penn area, this choice cul de sac location has easy access to the A449 route. There are good local shopping facilities and transport links and Penn Hospital is approximately half a mile away.

Auctioneer comments

This property is for sale by the Modern Method of Auction, meaning the buyer and seller are to Complete within 56 days (the "Reservation Period"). Interested parties personal data will be shared with the Auctioneer (iamsold). If considering buying with a mortgage, inspect and consider the property carefully with your lender before bidding. A Buyer Information Pack is provided. The winning bidder will pay £349.00 including VAT for this pack which you must view before bidding. The buyer signs a Reservation Agreement and makes payment of a non-refundable Reservation Fee of 4.50% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. This is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. This is considered within calculations for Stamp Duty Land Tax. Services may be recommended by the Agent or Auctioneer in which they will receive payment from the service provider if the service is taken. Payment varies but will be no more than £450.00. These services are optional. Fees & Charges Explained

Warstones Crescent, Penn, Wolverhampton, WV4 4LQ

This property is sold subject to payment of a non-refundable reservation fee of 4.50% to a minimum of £6,600.00 including VAT. Any successful purchaser will pay this to secure the sale. The reservation fee is in addition to the purchase price. Please take this into account when bidding. A reservation fee is payable by the buyer only when the seller pays no fees to sell. As sellers pay no fees to sell, this is usually taken into account with a lower reserve price. This property is being sold under the Modern Method of Auction, which requires the Completion of the purchase within 56 days, although all reasonable endeavours must be made to Exchange Contracts within immediately following the Draft Contracts being received by the Buyer's Solicitor A non-refundable Reservation fee must be paid by the buyer within 2 hours following the conclusion of the auction or acceptance of an offer. This must be paid by cleared funds to the auctioneer who will issue an acknowledgement of reservation and purchase agreement in the 56 day period following the auction or the date of acceptance of the offer.

Buyer Information Pack

If the Buyer Information Pack has been produced and provided by iamsold any successful purchaser will be required to pay £349.00 (including VAT) towards the cost of the preparation of the pack. These can then be used by your solicitor to progress the sale.

Buyer Fees

There are no other fees or charges payable to the Auctioneer however, there are other costs to consider such as:

  • You will need a Solicitor to act for you during the conveyancing and your Solicitor will advise you in relation to the associated costs. If you do not have a Solicitor, we can recommend the services of one of our Panel Solicitors who are all selected for their expertise in Auction Transactions. Please call the number below for more information.
  • Stamp Duty Land Tax (SDLT) is applicable if you buy a property or land over a certain price in England, Wales or Northern Ireland. Please click here for more information. Tenure: Freehold,

Agent Details

Belvoir, Wolverhampton

01902 243495

Next Steps?

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