7 Bed Terraced House, Refurb/BRRR, Blackpool, FY1 4DE, £100,000

66 Reads Avenue, Blackpool, FY1 6HP - 2 views - a month ago

Auction
Refurb/BRRR
ROI: 4%
156 m²
+10 photos

ValuationUndervalued

Sold Prices£52.5K - £420K
Sold Prices/m²£560/m² - £4K/m²

 

 

Square Metres

156 m²
Price/m²£641/m²

Value Estimate

£103,000
BMV3%

 

 

End Value (After Refurb)

£146,211

Uplift in Value

+46%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£25,000

Stamp Duty & Legal Fees

£4,200

Refurb Costs

£63,742

Bridging Loan Interest

£2,625

Total Cash In

£97,317

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£146,211

Mortgage (After Refinance)

£109,658

Mortgage LTV

75%

Cash Released

£34,658

Cash Left In

£62,659

Equity

£36,553

Rent Range

£650 - £2,000

Rent Estimate

£966

Running Costs/mo

£670

Cashflow/mo

£296

Cashflow/yr

£3,551

ROI

4%

Gross Yield

12%

Local Sold Prices

50 sold prices from £52.5K to £420K, average is £158.8K. £560/m² to £4K/m², average is £1K/m².

PriceDateDistanceAddressBeds 
£160K05/230.14 mi7, Bennett Avenue, Blackpool FY1 4DP4
£129.9K06/210.14 mi133, Park Road, Blackpool FY1 4ET4
£210K08/210.19 mi67, Park Road, Blackpool FY1 4JQ4
£167K09/210.23 mi45, Lincoln Road, Blackpool FY1 4HA4
£155K05/230.23 mi33, Lincoln Road, Blackpool FY1 4HA4
£70.5K02/210.25 mi15, Erdington Road, Blackpool FY1 5EG4
£78.5K05/230.25 mi25, Rydal Avenue, Blackpool FY1 4AR4
£75K02/210.25 mi30, Erdington Road, Blackpool FY1 5EG4
£110.1K02/210.25 mi22, Longton Road, Blackpool FY1 4HW4
£95K07/230.27 mi144, Adelaide Street, Blackpool FY1 4LU4
£70K05/210.28 mi30, Kent Road, Blackpool FY1 5HB4
£79K07/210.29 mi2, Chadwick Street, Blackpool FY1 5EJ4
£230K07/210.3 mi172, Reads Avenue, Blackpool FY1 4JD4
£200K10/210.3 mi194, Reads Avenue, Blackpool FY1 4JD4
£230K07/210.3 mi172, Reads Avenue, Blackpool FY1 4JD4
£250K12/220.3 mi16, Leamington Road, Blackpool FY1 4EZ4
£85K05/210.31 mi229, Palatine Road, Blackpool FY1 4DX4
£237K10/200.35 mi52, Gloucester Avenue, Blackpool FY1 4EJ4
£75K10/210.35 mi227, Central Drive, Blackpool FY1 5HX4
£132.5K01/210.37 mi15, Leeds Road, Blackpool FY1 4HQ4
£117.7K02/230.43 mi44, Whitegate Drive, Blackpool FY3 9AL4
£245K01/210.43 mi153, Whitegate Drive, Blackpool FY3 9ER4
£215K11/200.43 mi145, Whitegate Drive, Blackpool FY3 9ER4
£173K11/210.48 mi35, Kensington Road, Blackpool FY3 9DU4
£125K08/210.48 mi3, Kensington Road, Blackpool FY3 9DU4
£179.9K06/230.5 mi13, Gorse Road, Blackpool FY3 9ED4
£93K10/210.51 mi49, Elizabeth Street, Blackpool FY1 3JF4
£100K11/210.53 mi17, Devonshire Road, Blackpool FY3 8DS4
£130K02/210.57 mi13, Westwood Avenue, Blackpool FY3 9DW4
£157.5K03/210.58 mi34, Newton Drive, Blackpool FY3 8BY4
£192.5K12/200.59 mi18, West Park Drive, Blackpool FY3 9DN4
£115K12/200.61 mi3, Thirsk Grove, Blackpool FY1 5NH4
£390K08/230.64 mi43, Forest Gate, Blackpool FY3 9BA4
£200K07/210.64 mi47, Forest Gate, Blackpool FY3 9BA4
£235K04/210.64 mi45, Forest Gate, Blackpool FY3 9BA4
£209K08/230.66 mi19, Ridgwood Avenue, Blackpool FY3 8EL4
£260K11/210.66 mi39, Knowsley Avenue, Blackpool FY3 9HP4
£270K06/210.66 mi90, West Park Drive, Blackpool FY3 9HU4
£245K04/230.66 mi80, West Park Drive, Blackpool FY3 9HU4
£98K12/200.7 mi11, South Square, Blackpool FY3 8AJ4
£175K01/230.7 mi76, Newton Drive, Blackpool FY3 8EP4
£120K11/200.7 mi12, Collingwood Avenue, Blackpool FY3 8BZ4
£98K11/200.72 mi20, Saville Road, Blackpool FY1 6JP4
£357K01/210.72 mi19, Vernon Avenue, Blackpool FY3 9JF4
£323K10/200.74 mi25, North Park Drive, Blackpool FY3 8LR4
£420K11/200.74 mi11, St Josephs Close, Blackpool FY3 8LU4
£100K07/230.78 mi44, Kirkham Avenue, Blackpool FY1 6RJ4
£160K03/220.8 mi46a, Falmouth Road, Blackpool FY1 6LQ4
£52.5K08/230.81 mi171, Lytham Road, Blackpool FY1 6DN4
£145K04/210.81 mi358, Central Drive, Blackpool FY1 6LF4

Local Rents

50 rents from £650/mo to £2K/mo, average is £850/mo.

RentDateDistanceAddressBeds 
£2,00002/250.05 mi-3
£2,00002/250.05 mi-3
£90002/250.1 mi-3
£1,50003/250.19 mi-3
£80005/240.2 mi-3
£80005/240.2 mi-3
£72504/240.21 miHarrison Street, Blackpool, Lancashire, FY13
£90004/240.24 miSouth King Street, Blackpool3
£69503/250.25 mi-3
£77504/240.27 miErdington Road, Blackpool3
£1,20003/250.28 mi-3
£90005/240.31 mi57 Gainsborough Road, Blackpool. FY1 4DZ3
£80004/240.31 miPark Road, Blackpool, FY1 5QN3
£70004/240.33 miFlat 2, 16 Coop Street3
£1,40003/250.35 mi-4
£95004/240.35 mi-4
£80005/240.35 mi28 Gloucester Avenue3
£95004/240.35 miWestmorland Avenue, Blackpool, Lancashire, FY15
£70004/240.37 miPeter Street, Blackpool, FY1 3LT3
£82504/240.4 miBickerstaffe Street, Blackpool3
£82504/240.43 miWyre Grove, Blackpool3
£1,10004/240.45 miPrincess Street3
£95001/250.46 mi-3
£1,10005/240.47 mi-3
£1,10004/240.47 mi92 Grasmere Road3
£75004/240.48 miCaunce Street, Blackpool3
£1,30001/250.48 mi-5
£85005/240.48 mi-3
£85001/250.49 mi-3
£95001/240.49 mi-3
£1,30004/240.49 miMere Road, Blackpool, Lancashire, FY34
£95004/240.52 miBryan Road, Blackpool3
£80004/240.54 mi16 Harley Road, Blackpool, FY3 9DY3
£85004/240.54 mi34 Woodland Grove3
£75005/240.55 mi-3
£1,20003/250.55 mi-3
£95005/240.55 mi-3
£85005/240.56 mi-3
£79512/240.56 mi-3
£79501/250.56 mi-3
£1,20002/250.57 mi-4
£82505/240.57 miWestwood Avenue, Blackpool3
£80005/240.57 miCondor Grove, Blackpool, Lancashire, FY14
£95005/240.58 mi8 Westwood Avenue, Blackpool, FY3 9DW3
£75004/240.59 miManchester Road, Blackpool, FY3 8DN3
£90004/240.6 miWilkinson Avenue, Blackpool3
£79504/240.6 miAnsdell Road, Blackpool, Lancashire, FY15LX3
£65006/240.61 mi-3
£72501/250.61 mi-3
£72501/250.61 mi-3

Local Area Statistics

Population in FY1

33,505

Population in Blackpool

133,713

Town centre distance

1.47 miles away

Nearest school

0.30 miles away

Nearest train station

0.58 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+26%

Sales demand

Balanced market

Capital growth (5yrs)

+11%

Property History

Listed for £100,000

February 18, 2025

Floor Plans

Description

  • 7 Bedroom Residential House +
  • Fantastic Location Within Walking Distance To Blackpool Tower & Local Attractions And The Town Centre With An Abundance Of Retail Shops And Eating Establishments +
  • Off Road Parking To The Front +
  • No Onward Chain +
  • Requires Some Modernisation, Fantastic Investment Opportunity +
  • Entrance Vestibule, Hallway, Lounge, Dining Room, Kitchen +
  • 3 Bedrooms To The First Floor And Bathroom With Walk In Shower +
  • 4 Bedrooms To The Second Floor And 3 Piece Suite Shower Room +
  • All Bedrooms Come Equipped With Wash Basins +

Being Sold via Secure Sale online bidding. Terms & Conditions apply. Starting Bid £100,000. This 7-bedroom end-terrace property is nestled in a prime location within walking distance to prominent Blackpool attractions like the Blackpool Tower and the bustling town centre. Boasting off-road parking to the front, this property presents a unique opportunity with no onward chain, ideal for investors looking to inject their creative flair into a property brimming with potential. As you step inside, you are greeted by an entrance vestibule leading to a hallway, lounge, dining room, and kitchen. The first floor hosts 3 bedrooms and a bathroom with a walk-in shower, while the second floor reveals 4 additional bedrooms, all equipped with wash basins, and a convenient 3-piece suite shower room.

Stepping outside, the property offers a south-facing garden to the rear, providing outdoor space perfect for relaxation and entertaining, complemented by a brick outhouse for storage. Additionally, the convenience of off-road parking to the front ensures ease for residents.

While some modernisation is required, the versatile layout and prime location make this property a stellar investment opportunity waiting to be realised.

Please note, any viewings or offers that take place from this moment must be placed through the auction T&Cs as per the Sellers agreement.

EPC Rating: D

Agent Details

Stephen Tew Estate Agents, Blackpool

01256 961179

Next Steps?

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