3 Bed Terraced House, Refurb/BRRR, Neath, SA11 1YL, £75,000

Wallace Road, Neath, SA11 1YL - 2 views - 2 months ago

Auction
Refurb/BRRR
ROI: 5%
~93 m²
+12 photos

ValuationUndervalued

Sold Prices£43K - £270K
Sold Prices/m²£538/m² - £3.2K/m²

 

 

Square Metres

~93 m²
Price/m²£806/m²

Value Estimate

£77,250
BMV3%

 

 

End Value (After Refurb)

£123,889

Uplift in Value

+65%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£18,750

Stamp Duty & Legal Fees

£3,450

Refurb Costs

£37,702

Bridging Loan Interest

£1,969

Total Cash In

£63,620

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£123,889

Mortgage (After Refinance)

£92,917

Mortgage LTV

75%

Cash Released

£36,667

Cash Left In

£26,953

Equity

£30,972

Rent Range

£700 - £975

Rent Estimate

£847

Running Costs/mo

£577

Cashflow/mo

£270

Cashflow/yr

£3,245

ROI

5%

Gross Yield

14%

Local Sold Prices

47 sold prices from £43K to £270K, average is £118K. £538/m² to £3.2K/m², average is £1.3K/m².

PriceDateDistanceAddressBeds 
£90K01/230.04 mi51, Dalton Road, Neath, Neath Port Talbot SA11 1UG3
£95K10/210.05 mi51, Wallace Road, Neath, Neath Port Talbot SA11 1YH3
£165K08/210.06 mi24, Hillside, Neath, Neath Port Talbot SA11 1TS3
£105K06/230.06 mi9, Hillside, Neath, Neath Port Talbot SA11 1TS3
£89.5K07/210.08 mi51, Danygraig Road, Neath, Neath Port Talbot SA11 1UA3
£160K12/200.1 mi6, Ty Segur, Neath, Neath Port Talbot SA11 1YN3
£72K11/200.1 mi10, George Street, Neath, Neath Port Talbot SA11 1TT3
£120.1K10/210.11 mi36, Hillside, Neath, Neath Port Talbot SA11 1TR3
£146K02/210.12 mi37, Hillside, Neath, Neath Port Talbot SA11 1TR3
£150K12/200.13 miHillcrest, Pentwyn, Neath, Neath Port Talbot SA11 1YW3
£77K11/200.13 mi3, Pentwyn, Neath, Neath Port Talbot SA11 1YW3
£75K08/210.14 mi16, Burrows Road, Neath, Neath Port Talbot SA11 1TA3
£85K03/240.14 mi22, Burrows Road, Neath, Neath Port Talbot SA11 1TA3
£103.5K12/200.14 mi4, Danygraig Road, Neath, Neath Port Talbot SA11 1UD3
£165K04/210.14 mi8, Danygraig Road, Neath, Neath Port Talbot SA11 1UD3
£103K03/210.16 mi40, Crythan Road, Neath, Neath Port Talbot SA11 1SR3
£115K10/230.16 mi43, Crythan Road, Neath, Neath Port Talbot SA11 1SR3
£130K03/230.17 mi25, Llewellyn Street, Neath, Neath Port Talbot SA11 1EJ3
£103K08/240.17 mi3, Llewellyn Street, Neath, Neath Port Talbot SA11 1EJ3
£62K11/200.18 mi10, Taylors Row, Neath, Neath Port Talbot SA11 1SY3
£107K08/230.18 mi21, Briton Ferry Road, Neath, Neath Port Talbot SA11 1AF3
£70K06/230.19 mi1, Old Road, Neath, Neath Port Talbot SA11 2BS3
£121K02/210.2 mi2, Caederwen Road, Neath, Neath Port Talbot SA11 1US3
£43K07/230.2 mi9, Caederwen Road, Neath, Neath Port Talbot SA11 1US3
£119K06/230.23 mi36, Whittington Street, Neath, Neath Port Talbot SA11 1AW3
£95K03/230.23 mi49, Whittington Street, Neath, Neath Port Talbot SA11 1AN3
£162.5K05/240.23 mi52, Wellfield Avenue, Neath, Neath Port Talbot SA11 1AX3
£125K04/210.24 mi21, Cook Rees Avenue, Neath, Neath Port Talbot SA11 1UR3
£160K06/210.24 mi112, Lewis Road, Neath, Neath Port Talbot SA11 1DQ3
£195K06/210.24 mi92, Lewis Road, Neath, Neath Port Talbot SA11 1DQ3
£130K07/230.25 mi21, Talbot Road, Neath, Neath Port Talbot SA11 1UT3
£270K03/210.26 mi5, Wellfield Square, Neath, Neath Port Talbot SA11 1YY3
£177K10/210.26 mi3, Wellfield Square, Neath, Neath Port Talbot SA11 1YY3
£85K06/210.27 mi7, Brookdale Street, Neath, Neath Port Talbot SA11 1PB3
£87K09/230.28 mi56, Eastland Road, Neath, Neath Port Talbot SA11 1HY3
£115K03/210.29 mi48, New Henry Street, Neath, Neath Port Talbot SA11 1PH3
£118K01/240.29 mi18, New Henry Street, Neath, Neath Port Talbot SA11 1PH3
£115K02/230.29 mi31, New Henry Street, Neath, Neath Port Talbot SA11 1PH3
£151.5K12/220.29 mi80, Old Road, Neath, Neath Port Talbot SA11 2BU3
£137K10/210.3 mi15, Kingdon Owen Road, Neath, Neath Port Talbot SA11 1JR3
£194K12/230.3 mi4, Meadow Road, Neath, Neath Port Talbot SA11 2AB3
£150K09/210.31 mi13, Geoffrey Street, Neath, Neath Port Talbot SA11 1HU3
£140K03/210.31 mi12, Bilton Road, Neath, Neath Port Talbot SA11 1YU3
£165K09/230.31 mi57, Cook Rees Avenue, Neath, Neath Port Talbot SA11 1JT3
£87K12/200.33 mi20, Eastland Road, Neath, Neath Port Talbot SA11 1HS3
£147.5K12/230.33 mi15, Eastland Road, Neath, Neath Port Talbot SA11 1HS3
£83.5K06/210.35 mi67, Pendrill Street, Neath, Neath Port Talbot SA11 1BW3

Local Rents

16 rents from £700/mo to £975/mo, average is £823/mo.

RentDateDistanceAddressBeds 
£80012/240.1 miGeorge Street, NEATH3
£75008/240.16 mi-3
£79511/240.21 mi-3
£92512/240.23 miWellfield Avenue, Neath3
£80012/240.25 mi-3
£70009/240.26 mi-3
£90008/240.27 miBrookdale Street, NEATH3
£84503/250.29 mi-3
£79512/240.3 mi-3
£79512/240.3 mi-3
£80008/240.35 miElias Street, Neath, Neath Port Talbot.3
£90008/240.41 miOsborne Street, NEATH3
£92512/240.42 mi-3
£90001/250.44 mi-3
£90008/240.54 miMorgans Road, Neath, 3
£97510/240.59 mi-3

Local Area Statistics

Population in SA11

36,616

Population in Neath

66,689

Town centre distance

2.56 miles away

Nearest school

0.20 miles away

Nearest train station

0.57 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+14%

Sales demand

Seller's market

Capital growth (5yrs)

+35%

Property History

Listed for £75,000

February 24, 2025

Floor Plans

Description

  • Sale by Modern Auction (T&Cs apply) +
  • Subject to an undisclosed Reserve Price +
  • Buyers fees apply +
  • Renovation Opportunity +
  • Off Road Parking +
  • Front Yard, Rear Garden +
  • Ideal First Time Buy / Investment +

SUMMARY
A three bedroom renovation opportunity with no on-going chain. Benefiting from off road parking, whilst situated within a popular area with great links to local schools, shops and public transport links. Internal viewings come highly recommended.

DESCRIPTION
Renovation opportunity! Ideal first time buy or investment property, sold with no on going chain. Conveniently located for commuters with great links to the M4 corridor. Also well situated for access to local shops, schools, including Ynysmaerdy and Llansawel Primary schools, and Neath town centre.
Internally the property comprises of an entrance hall, a lounge, kitchen and bathroom to the ground floor and three bedrooms to the first floor. To the front of the property there is a small gated yard whereas the rear garden features a low maintenance space with a shed and double gates providing off road parking.
Internal viewings recommended.

Auctioneer's Comments 
This property is offered through Modern Method of Auction. Should you view, offer or bid your data will be shared with the Auctioneer, iamsold Limited. This method requires both parties to complete the transaction within 56 days, allowing buyers to proceed with mortgage finance (subject to lending criteria, affordability and survey).

The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee of 4.5% of the purchase price including VAT, subject to a minimum of £6600.00 including VAT. This fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability. Buyers will be required to complete an identification process with iamsold and provide proof of how the purchase would be funded.

The property has a Buyer Information Pack containing documents about the property. The documents may not tell you everything you need to know, so you must complete your own due diligence before bidding. A sample of the Reservation Agreement and terms and conditions are contained within this pack. The buyer will also make payment of no more than £349 inc. VAT towards the preparation cost of the pack. Please confirm exact costs with the auctioneer.

The estate agent and auctioneer may recommend the services of other providers to you, in which they will be paid for the referral. These services are optional, and you will be advised of any payment, in writing before any services are accepted. Listing is subject to a start price and undisclosed reserve price that can change.

Entrance Hall 

Lounge 11' 9" max x 11' 9" max ( 3.58m max x 3.58m max )

Kitchen 8' 7" x 8' 6" ( 2.62m x 2.59m )

Bathroom 

Landing 

Bedroom One 10' x 15' 2" max ( 3.05m x 4.62m max )

Bedroom Two 11' 8" x 7' 7" ( 3.56m x 2.31m )

Bedroom Three 8' 9" x 7' 2" ( 2.67m x 2.18m )

Exterior 
Gated front yard and a rear low maintenance rear garden with a shed and vehicle access via double gates.

1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. The measurements indicated are supplied for guidance only and as such must be considered incorrect.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. THESE PARTICULARS ARE ISSUED IN GOOD FAITH BUT DO NOT CONSTITUTE REPRESENTATIONS OF FACT OR FORM PART OF ANY OFFER OR CONTRACT. THE MATTERS REFERRED TO IN THESE PARTICULARS SHOULD BE INDEPENDENTLY VERIFIED BY PROSPECTIVE BUYERS OR TENANTS. NEITHER PETER ALAN NOR ANY OF ITS EMPLOYEES OR AGENTS HAS ANY AUTHORITY TO MAKE OR GIVE ANY REPRESENTATION OR WARRANTY WHATEVER IN RELATION TO THIS PROPERTY.

Agent Details

Peter Alan, Neath

01639 505098

Next Steps?

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