2 Bed Terraced House, Refurb/BRRR, Wigan, WN1 3DE, £75,000

Gordon Street, Wigan, WN1 3DE - 6 views - 2 months ago

Sold STC
Leasehold
Refurb/BRRR
ROI: 7%
~68 m²
+5 photos

ValuationFair Value

Sold Prices£60K - £175K
Sold Prices/m²£753/m² - £3K/m²

 

 

Square Metres

~68.11 m²
Price/m²£1.1K/m²

Value Estimate

£75,750

 

 

End Value (After Refurb)

£80,882

Uplift in Value

+8%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£18,750

Stamp Duty & Legal Fees

£3,450

Refurb Costs

£28,828

Bridging Loan Interest

£1,969

Total Cash In

£54,747

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£80,882

Mortgage (After Refinance)

£60,661

Mortgage LTV

75%

Cash Released

£4,411

Cash Left In

£50,336

Equity

£20,220

Rent Range

£575 - £950

Rent Estimate

£733

Running Costs/mo

£419

Cashflow/mo

£314

Cashflow/yr

£3,764

ROI

7%

Gross Yield

12%

Local Sold Prices

50 sold prices from £60K to £175K, average is £92.5K. £753/m² to £3K/m², average is £1.2K/m².

PriceDateDistanceAddressBeds 
£65K11/220.03 mi17, Chatham Street, Wigan, Greater Manchester WN1 3DB2
£67K02/210.04 mi51, Gordon Street, Ince, Wigan, Greater Manchester WN1 3DF2
£77K05/230.04 mi33, Gordon Street, Ince, Wigan, Greater Manchester WN1 3DF2
£95K07/210.07 mi13, Henry Park Street, Ince, Wigan, Greater Manchester WN1 3DA2
£112.5K11/230.09 mi154, Hardybutts, Wigan, Greater Manchester WN1 3NE2
£79K05/210.1 mi29, Harper Street, Wigan, Greater Manchester WN1 3BN2
£90K11/230.1 mi30, Hackworth Close, Wigan, Greater Manchester WN1 3JQ2
£125.5K03/230.1 mi15, Hackworth Close, Wigan, Greater Manchester WN1 3JQ2
£103K01/210.14 mi125, Hardybutts, Wigan, Greater Manchester WN1 3RD2
£103K01/210.14 mi125, Hardybutts, Wigan, Greater Manchester WN1 3RD2
£100K10/230.14 mi43, Leader Street, Ince, Wigan, Greater Manchester WN1 3JH2
£125K02/230.14 mi153, Darlington Street East, Wigan, Greater Manchester WN1 3EF2
£88K02/210.16 mi13, Cecil Street, Wigan, Greater Manchester WN1 3JL2
£75K03/210.16 mi8, Cecil Street, Wigan, Greater Manchester WN1 3JL2
£72K06/210.17 mi15, Rupert Street, Wigan, Greater Manchester WN1 3EQ2
£78.5K06/210.19 mi54, Lorne Street, Wigan, Greater Manchester WN1 3JJ2
£78K10/230.19 mi40, Lorne Street, Wigan, Greater Manchester WN1 3JJ2
£97.5K09/230.25 mi45, Scholefield Lane, Wigan, Greater Manchester WN1 3LR2
£125K10/210.26 mi8, Vulcan Drive, Wigan, Greater Manchester WN1 3EW2
£66K10/200.27 mi16, Bryham Street, Wigan, Greater Manchester WN1 3LY2
£154K12/230.27 mi2, Moorings Close, Ince, Wigan, Greater Manchester WN1 3HB2
£90K03/210.28 mi84, Darlington Street East, Wigan, Greater Manchester WN1 3AT2
£125K07/230.28 mi32, Cambridge Way, Wigan, Greater Manchester WN1 3EN2
£90K08/230.31 mi12, Baldwin Street, Wigan, Greater Manchester WN1 3LZ2
£112K02/230.35 mi43, Bird Street, Ince, Wigan, Greater Manchester WN2 2AZ2
£100K02/230.35 mi3, Walmesley Street, Wigan, Greater Manchester WN1 3HA2
£115K01/210.36 mi83, Red Brook Road, Ince, Wigan, Greater Manchester WN3 4JQ2
£108K10/200.36 mi47, Red Brook Road, Ince, Wigan, Greater Manchester WN3 4JQ2
£61K09/210.36 mi88, Ince Green Lane, Ince, Wigan, Greater Manchester WN2 2DG2
£60K10/210.39 mi122, Ince Green Lane, Ince, Wigan, Greater Manchester WN2 2DG2
£74K03/210.4 mi202, Ince Green Lane, Ince, Wigan, Greater Manchester WN3 4RJ2
£69K07/210.42 mi6, Windermere Street, Wigan, Greater Manchester WN1 3NW2
£100K03/230.42 mi3, Windermere Street, Wigan, Greater Manchester WN1 3NW2
£83.3K10/210.44 mi79, Manley Street, Ince, Wigan, Greater Manchester WN3 4SA2
£83K04/210.44 mi58, Manley Street, Ince, Wigan, Greater Manchester WN3 4SA2
£70.5K11/200.44 mi76, Manley Street, Ince, Wigan, Greater Manchester WN3 4SA2
£87K08/210.44 mi15, Winifred Street, Ince, Wigan, Greater Manchester WN3 4SD2
£82K03/210.44 mi39, Winifred Street, Ince, Wigan, Greater Manchester WN3 4SD2
£105K12/220.45 mi10, Junction Terrace, Ince, Wigan, Greater Manchester WN3 4QU2
£94K02/230.45 mi6, Church Street, Ince, Wigan, Greater Manchester WN3 4RF2
£80K01/210.46 mi10, Church Street, Ince, Wigan, Greater Manchester WN3 4RF2
£67K04/210.46 mi6, Church Street, Ince, Wigan, Greater Manchester WN3 4RF2
£130K01/240.46 mi3, Trecastell Close, Wigan, Greater Manchester WN1 3YT2
£153K11/210.46 mi4, Trecastell Close, Wigan, Greater Manchester WN1 3YT2
£155K03/210.46 mi6, Trecastell Close, Wigan, Greater Manchester WN1 3YT2
£130K10/230.46 mi31, Roach Green, Wigan, Greater Manchester WN1 3YG2
£95K06/210.47 mi61, Northumberland Street, Wigan, Greater Manchester WN1 3PZ2
£91K09/210.48 mi37, Manley Street, Ince, Wigan, Greater Manchester WN3 4RY2
£110K03/240.48 mi48, Manley Street, Ince, Wigan, Greater Manchester WN3 4RY2
£175K04/230.48 mi2a, Corsock Drive, Wigan, Greater Manchester WN1 3YY2

Local Rents

21 rents from £575/mo to £950/mo, average is £750/mo.

RentDateDistanceAddressBeds 
£75002/250.06 mi-2
£57511/240.07 miHenry Park Street, Ince, Wigan, WN12
£65011/240.1 miBroomfield Terrace, Ince, Wigan, WN12
£95012/240.11 mi-2
£92502/250.12 mi-2
£85004/250.17 mi-2
£60001/250.21 mi-2
£75004/250.24 mi-2
£57512/240.25 mi-2
£60002/250.26 mi-2
£85012/240.27 mi-2
£77512/240.31 mi-2
£77504/250.31 mi-2
£80003/250.37 mi-2
£69511/240.42 miWindermere Street, Whelley,Wigan WN12
£77511/240.49 miWhelley, Whelley, Wigan, WN12
£95004/250.55 mi-2
£75002/250.58 mi-2
£75004/250.58 mi-2
£72511/240.6 mi-2
£77512/240.62 mi-2

Local Area Statistics

Population in WN1

19,681

Population in Wigan

214,929

Town centre distance

1.10 miles away

Nearest school

0.10 miles away

Nearest train station

0.37 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+21%

Sales demand

Seller's market

Capital growth (5yrs)

+24%

Property History

Listed for £75,000

February 14, 2025

Floor Plans

Description

  • Mid terraced property +
  • Separate lounge area +
  • Generously sized bedrooms +
  • First floor bathroom +
  • Close to amenities + schools +

While the property does require renovation, With the right care and attention, it can be restored to its full potential, offering a comfortable and stylish home. Its location, in close proximity to public transport links, local schools, and amenities, adds to the appeal of this house, making it a worthwhile investment. The house boasts a welcoming reception room, offering a separate, spacious lounge area. This Adjacent to the lounge, you'll find a kitchen, further enhancing the functionality of this home. Upstairs, there are two well-proportioned bedrooms, providing ample space for your personal setup. Each room has the potential to be transformed. The bathroom, located on the first floor, offers further potential for modernisation. One of the notable characteristics of this property is the enclosed rear yard. This outdoor space is a blank canvas awaiting your personal touch. Tenure: Leasehold,

Agent Details

Belvoir, Wigan

01942 826096

Next Steps?

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