2 Bed Flat, Refurb/BRRR, Motherwell, ML1 3UU, £60,000

Riach Gardens, Motherwell, ML1 3UU - 2 months ago

Refurb/BRRR
ROI: 11%
~68 m²
+1 photos

ValuationFair Value

Sold Prices£30K - £192.5K

 

 

Square Metres

~68.11 m²

Value Estimate

£59,000

 

 

End Value (After Refurb)

£56,375

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£15,000

Stamp Duty & Legal Fees

£4,200

Refurb Costs

£26,658

Bridging Loan Interest

£1,575

Total Cash In

£49,183

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£56,375

Mortgage (After Refinance)

£42,281

Mortgage LTV

75%

Cash Left In

£49,183

Equity

£14,094

Rent Range

£500 - £3,000

Rent Estimate

£812

Running Costs/mo

£359

Cashflow/mo

£453

Cashflow/yr

£5,441

ROI

11%

Gross Yield

16%

Local Sold Prices

50 sold prices from £30K to £192.5K, average is £74.5K.

PriceDateDistanceAddressBeds 
£73K08/210.27 mi59, Fort Street, Motherwell ML1 3QP2
£39.5K04/240.31 mi250, Dalriada Crescent, Motherwell, Lanarkshire ML1 3YA2
£43.5K02/240.36 mi95, Dalriada Crescent, Motherwell, Lanarkshire ML1 3XT2
£40K02/240.36 mi79, Dalriada Crescent, Motherwell, Lanarkshire ML1 3XT2
£110K04/240.39 mi39, John Muir Way, Motherwell, Lanarkshire ML1 3GX2
£30K05/210.42 mi186, Dalriada Crescent, Motherwell, Lanarkshire ML1 3XS2
£119.5K10/210.68 mi50, Bruce Avenue, Motherwell, Lanarkshire ML1 3LB2
£54K12/210.72 mi40, Brodick Avenue, Motherwell, Lanarkshire ML1 3PS2
£70K02/210.74 mi79, Orbiston Drive, Bellshill, Lanarkshire ML4 2LX2
£60K11/210.75 mi4, Blairholm Drive, Bellshill, Lanarkshire ML4 2JY2
£65K04/210.79 mi9, Roman Drive, Bellshill, Lanarkshire ML4 2JQ2
£68.5K06/210.84 mi9, Northfield Street, Motherwell, Lanarkshire ML1 1HE2
£58K09/210.87 mi32, Vulcan Street, Motherwell ML1 1HB2
£100K03/210.87 mi27, Henderson Court, Motherwell ML1 3GZ2
£127.5K11/210.91 mi173, Ladywell Road, Motherwell ML1 3HQ2
£85K10/210.97 mi24, Garfield Drive, Bellshill, Lanarkshire ML4 2NX2
£74K08/210.98 mi15, Coltness Drive, Bellshill ML4 2JE2
£55K02/211 mi19, Sinclair Grove, Bellshill, Lanarkshire ML4 2SX2
£92K07/211.02 mi21, Garfield Drive, Bellshill, Lan ML4 2NX2
£69K05/211.03 mi6, Scott Street, Motherwell, Lanarkshire ML1 1PJ2
£124.6K06/211.05 mi27, Neilsland Drive, Motherwell ML1 3EB2
£85K08/211.05 mi126a, Clydesdale Road, Bellshill, Lanarkshire ML4 2QL2
£105K12/211.05 mi11, The Mount, Motherwell ML1 3SW2
£63K03/211.07 mi14, Thorndean Avenue, Bellshill, Lanarkshire ML4 2LH2
£102.2K02/211.08 mi33, Guthrie Court, Motherwell, Lan ML1 3FR2
£192.5K06/211.09 mi5b Avon Court, Avon Street, Motherwell, Lanarkshire ML1 3AA2
£84K12/211.09 mi1, Russell Street, Bellshill, Lanarkshire ML4 1DR2
£58K09/211.1 mi60, Crossgates, Bellshill, Lanarkshire ML4 2EE2
£158K10/211.15 mi26, Cameron Street, Motherwell, Lanarkshire ML1 3AH2
£85K07/211.15 mi26, Mccourt Gardens, Bellshill, Lanark ML4 1QB2
£70K08/211.15 mi43, Russell Street, Bellshill, Lanarkshire ML4 1DS2
£63K11/211.15 mi67, Russell Street, Bellshill, Lanarkshire ML4 1DS2
£83K07/211.17 mi17, Adamson Street, Bellshill, Lanarkshire ML4 1DT2
£70K05/211.17 mi22, Adamson Street, Bellshill, Lanarkshire ML4 1DT2
£95K02/211.17 mi48, Queens Crescent, Motherwell, Lan ML1 4JA2
£68K06/211.18 mi22, Bruce Street, Bellshill, Lanarkshire ML4 1QH2
£80K03/211.2 mi1, Mccourt Gardens, Bellshill, Lanarkshire ML4 1QB2
£87K06/211.2 mi21, Mccourt Gardens, Bellshill, Lanarkshire ML4 1QB2
£100K06/211.21 mi25, Mccourt Gardens, Bellshill, Lanarkshire ML4 1QB2
£85K09/211.21 mi2, Mcpherson Street, Bellshill, Lanarkshire ML4 1DN2
£57K10/211.21 mi61, Stewart Street, Bellshill, Lanarkshire ML4 1DU2
£82K11/211.22 mi552, Merry Street, Motherwell, Lanarkshire ML1 4BW2
£57.5K03/211.23 mi166, Jerviston Street, New Stevenston, Motherwell, Lanarkshire ML1 4HT2
£60K02/211.23 mi156, Jerviston Street, New Stevenston, Motherwell, Lan ML1 4HT2
£88K10/211.23 mi8, Anderson Court, Dean Street, Bellshill, Lanarkshire ML4 1PF2
£75K08/211.23 mi12, Anderson Court Dean Street, Bellshill, Lanarkshire ML4 1PF2
£72K02/241.3 mi11c, Motherwell Road, Bellshill, Lanarkshire ML4 1RE2
£142K09/211.34 mi8, Imlach Place, Motherwell, Lanarkshire ML1 3FA2
£121K01/211.34 mi32, Imlach Place, Motherwell, Lanarkshire ML1 3FD2
£55K12/211.34 mi31, Loganlea Drive, Motherwell, Lanarkshire ML1 4AR2

Local Rents

35 rents from £500/mo to £3K/mo, average is £750/mo.

RentDateDistanceAddressBeds 
£79505/240.07 miFrood Street, Motherwell2
£77510/230.15 mi-2
£77507/240.15 mi-2
£77505/240.17 miBellshill Road, Motherwell, Lanarkshire2
£50005/230.37 mi-2
£50002/240.37 mi-2
£3,00002/250.4 mi-2
£60012/240.46 miDalriada Crescent, Motherwell2
£69512/240.63 mi3 Findlay Court, Motherwell, ML1 1LA2
£65009/240.65 mi-2
£65012/240.66 miArran Road, Motherwell, Lanarkshire, ML12
£85005/240.68 miBruce Avenue, Motherwell, Lanarkshire, ML12
£80006/240.81 miBoyd Drive, Motherwell, ML12
£80012/240.81 mi-2
£80012/240.81 mi-2
£79512/230.83 mi-2
£75012/240.83 mi-2
£75012/240.83 mi-2
£1,99912/240.84 mi-2
£75005/240.84 miHenderson Court, Motherwell, ML12
£75003/240.84 mi-2
£85009/240.84 mi-2
£65010/240.88 mi-2
£87510/240.9 mi-2
£66012/241.03 mi-2
£89503/241.16 miLeyland Road, Motherwell, ML1 3FX2
£65007/231.2 mi-2
£60010/241.21 mi-2
£60002/251.22 mi-2
£60009/241.22 mi-2
£69507/241.22 mi-2
£71506/241.22 miDean Street, Bellshill, ML42
£59505/241.22 mi-2
£52503/241.23 miCrossgates, Bellshill, Lanarkshire, ML42
£69512/231.23 mi-2

Local Area Statistics

Population in Motherwell

54,089

Town centre distance

1.95 miles away

Nearest school

0.30 miles away

Nearest train station

0.87 miles away

 

 

Rental growth (12m)

+69%

Sales demand

Seller's market

Capital growth (5yrs)

+4%

Property History

Listed for £60,000

February 19, 2025

Description

  • 2 Bedroom Flat +
  • First Floor +
  • Central Location +
  • Spacious Lounge +
  • Great Value for Money +
  • Ideal Buy-To Let +
  • Ideal First Time Purchase +
  • SOLD AS SEEN +

HomeLink present this 2 bedroom first floor flat to the market in a quiet, well-established estate in central Motherwell. The accommodation comprises hallway, spacious lounge, kitchen with large walk-in cupboard, bathroom, and two bedrooms, both with built-in storage. The property is enhanced by gas central heating (not tested), double glazing, and communal gardens.
The property is in need of a level of internal renovation and is sold as seen.
Ideal purchase for first time buyers or landlord investors.

Riach Gardens is a quiet cul-de-sac, set within a popular residential estate in Motherwell, close to the town centre and train station. Motherwell has a fantastic selection of retail facilities, shops, bars, restaurants, major supermarkets and leisure facilities; as well as being conveniently placed for public transport links and close to both the M74 and M8 motorways.

Lounge 4.40m (14' 5") x 3.80m (12' 6")
Bathroom 1.90m (6' 3") x 1.90m (6' 3")
Kitchen 2.60m (8' 6") x 1.90m (6' 3")
Bedroom 1 3.30m (10' 10") x 2.80m (9' 2")
Bedroom 2 3.30m (10' 10") x 2.20m (7' 3")

Agent Details

HomeLink, Coatbridge

01236 807686

Next Steps?

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