3 Bed Detached House, Refurb/BRRR, Smethwick, B66 4ST, £315,000

Devey Road, Smethwick, B66 4ST - 3 views - 2 months ago

Refurb/BRRR
~87 m²
+8 photos

ValuationOvervalued

Sold Prices£50K - £377.5K
Sold Prices/m²£680/m² - £4.1K/m²

 

 

Square Metres

~87.14 m²
Price/m²£3.6K/m²

Value Estimate

£168,200

 

 

End Value (After Refurb)

£311,250

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£78,750

Stamp Duty & Legal Fees

£22,700

Refurb Costs

£34,287

Bridging Loan Interest

£8,269

Total Cash In

£145,756

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£311,250

Mortgage (After Refinance)

£233,438

Mortgage LTV

75%

Cash Left In

£145,756

Equity

£77,813

Rent Range

£800 - £1,750

Rent Estimate

£1,250

Running Costs/mo

£1,243

Cashflow/mo

£7

Cashflow/yr

£88

ROI

0%

Gross Yield

5%

Local Sold Prices

50 sold prices from £50K to £377.5K, average is £175.5K. £680/m² to £4.1K/m², average is £1.9K/m².

PriceDateDistanceAddressBeds 
£276K12/220.03 mi23, Devey Road, Smethwick, West Midlands B66 4ST3
£165K02/230.07 mi4, Oliver Road, Smethwick, West Midlands B66 4PL3
£50K05/230.07 mi24, Oliver Road, Smethwick, West Midlands B66 4PL3
£168K10/230.09 mi114, Montague Road, Smethwick, West Midlands B66 4PW3
£236K12/210.09 mi42, Crown Street, Smethwick, West Midlands B66 4SP3
£145K11/220.12 mi3, Glencoe Road, Birmingham, West Midlands B16 0PB3
£120K12/200.12 mi25, Laundry Road, Smethwick, West Midlands B66 4PR3
£240K06/210.14 mi78, Barley Road, Birmingham, West Midlands B16 0QE3
£245K11/230.16 mi2, Kelvin Drive, Smethwick, West Midlands B66 4SU3
£165K06/220.16 mi17, Majuba Road, Birmingham, West Midlands B16 0PD3
£124.5K01/210.16 mi9, Majuba Road, Birmingham, West Midlands B16 0PD3
£168.5K05/220.17 mi25, Majuba Road, Birmingham, West Midlands B16 0PD3
£233K05/210.17 mi27, Brook Way, Birmingham, West Midlands B16 0QR3
£360K07/220.19 mi2, Deers Way, Birmingham, West Midlands B16 0QQ3
£210K08/210.19 mi91, Kinsey Road, Smethwick, West Midlands B66 4SL3
£145K11/210.19 mi236, Montague Road, Smethwick, West Midlands B66 4PJ3
£121.5K02/210.19 mi236, Montague Road, Smethwick, West Midlands B66 4PJ3
£185K08/220.2 mi173, Cape Hill, Smethwick, West Midlands B66 4SH3
£228K05/230.2 mi171, Cape Hill, Smethwick, West Midlands B66 4SH3
£180K10/220.23 mi51, Edith Road, Smethwick, West Midlands B66 4QX3
£120K09/210.24 mi96, Edith Road, Smethwick, West Midlands B66 4QY3
£196K08/230.24 mi94, Edith Road, Smethwick, West Midlands B66 4QY3
£292K06/210.25 mi3, Antler Way, Birmingham, West Midlands B16 0PX3
£225K02/210.27 mi69, Cavendish Road, Birmingham, West Midlands B16 0HT3
£235K07/230.27 mi65, Cavendish Road, Birmingham, West Midlands B16 0HT3
£210K10/230.29 mi5, New Hope Road, Smethwick, West Midlands B66 3TX3
£149K08/210.29 mi51, Rosebery Road, Smethwick, West Midlands B66 3RZ3
£182K06/230.29 mi62, Rosebery Road, Smethwick, West Midlands B66 3RZ3
£190K03/230.29 mi267, Portland Road, Edgbaston, Birmingham, West Midlands B17 8LU3
£175K01/230.32 mi80, Trafalgar Road, Smethwick, West Midlands B66 3SF3
£118K07/210.33 mi72, Salisbury Road, Smethwick, West Midlands B66 3RX3
£145K04/210.33 mi105, Salisbury Road, Smethwick, West Midlands B66 3RX3
£135K11/210.34 mi49, Gilbert Road, Smethwick, West Midlands B66 4PY3
£220K01/230.34 mi12, Wimbourne Road, Birmingham, West Midlands B16 0HR3
£150K03/210.35 mi9, Salisbury Road, Smethwick, West Midlands B66 3RU3
£166K11/200.35 mi86, Westbury Road, Birmingham, West Midlands B17 8JH3
£142K10/210.36 mi90, Trafalgar Road, Smethwick, West Midlands B66 3SA3
£135K12/200.37 mi91, Windmill Lane, Smethwick, West Midlands B66 3EW3
£310K03/210.38 mi7, Ravenshaw Road, Birmingham, West Midlands B16 0TE3
£120K02/210.4 mi152, Sycamore Road, Smethwick, West Midlands B66 4NS3
£182K01/230.4 mi139, Sycamore Road, Smethwick, West Midlands B66 4NS3
£160K10/220.41 mi46, Woodlands Street, Smethwick, West Midlands B66 3TE3
£198K04/230.41 mi66, Windmill Lane, Smethwick, West Midlands B66 3ES3
£176K12/220.41 mi146, Selsey Road, Birmingham, West Midlands B17 8JT3
£145K05/210.42 mi15, Woodlands Street, Smethwick, West Midlands B66 3TF3
£145K05/210.42 mi15, Woodlands Street, Smethwick, West Midlands B66 3TF3
£355K12/220.44 mi30, George Dixon Road, Birmingham, West Midlands B17 8LQ3
£286K03/220.44 mi257, Gillott Road, Birmingham, West Midlands B16 0RX3
£150K01/230.45 mi2, Shireland Brook Gardens, Birmingham, West Midlands B18 4JP3
£377.5K10/200.46 mi136, Stanmore Road, Birmingham, West Midlands B16 0SX3

Local Rents

22 rents from £800/mo to £1.8K/mo, average is £1.2K/mo.

RentDateDistanceAddressBeds 
£1,45004/250.06 mi-3
£1,10012/240.07 miOliver Road, Cape Hill3
£1,29512/240.09 miCrown Street, Smethwick3
£1,75004/250.1 mi-3
£99002/240.13 mi-3
£1,35012/240.24 miAvery Avenue, Edgbaston, Birmingham, B163
£1,15011/240.27 mi-3
£1,15012/240.31 miPortland Road, BIRMINGHAM3
£1,15012/240.31 miPortland Road, Edgbaston3
£1,05012/240.35 miWestbury Road, Edgbaston, B17 8JH3
£1,20012/240.36 mismethwick, B663
£1,00003/250.4 mi-3
£1,00004/250.4 mi-3
£1,59502/250.43 mi-3
£80012/240.44 miScribbans Close, Smethwick, West Midlands3
£1,10012/240.47 mi-3
£1,50003/250.56 mi-3
£1,50012/240.57 miDeer Park Road, Edgbaston, Birmingham, B163
£1,42512/240.57 miDeer Park Road, BIRMINGHAM3
£1,50012/240.57 miDeer Park Road, Edgbaston, Birmingham3
£1,30003/250.58 mi-3
£1,10012/240.6 miMessenger Road, B663

Local Area Statistics

Population in B66

21,335

Population in Smethwick

51,344

Town centre distance

0.76 miles away

Nearest school

0.10 miles away

Nearest train station

0.88 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+28%

Sales demand

Balanced market

Capital growth (5yrs)

+32%

Property History

Listed for £315,000

February 15, 2025

Floor Plans

Description

  • Modern double-fronted detached home +
  • Bright dual-aspect living room & kitchen +
  • Ground-floor WC for convenience +
  • Three bedrooms, main with en-suite +
  • Private rear garden for outdoor space +
  • Garage and driveway +
  • In need of some TLC (former rental property) +
  • No onward chain +
  • Close to amenities +

This modern, double-fronted detached property offers a spacious and versatile living space, perfect for families or professionals seeking a well-connected home. Upon entering, the welcoming entrance hall provides access to the main living areas. The dual-aspect living room is flooded with natural light, creating a bright and airy atmosphere, while the similarly dual-aspect kitchen offers ample space for dining and meal preparation. A convenient ground-floor WC completes the downstairs layout.

Upstairs, the property boasts three well-proportioned bedrooms, including a primary bedroom with an en-suite for added privacy and convenience. The remaining bedrooms share a family bathroom, catering to the needs of a growing family or visiting guests.

Externally, the home features a rear garden, providing a private outdoor space for relaxation or entertaining. A garage and driveway offer ample parking and storage solutions. While the property is in need of some TLC due to its previous use as a rental home, it presents an excellent opportunity for buyers to put their own stamp on it.

Situated in a highly convenient location, the property benefits from easy access to a wide range of amenities, including shops, schools, and transport links. Being sold with no onward chain, this home offers a fantastic opportunity for a smoother purchase.

Agent Details

haart, Harborne

0121 387 6520

Next Steps?

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

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