3 Bed Flat, Single Let, Smethwick, B66 3JZ, £170,000

311C Bridge House, Oakfield Close, Smethwick, B66 3JZ - 2 months ago

Leasehold

BTL

ROI: 6%

~91 m²

+8 photos

ValuationOvervalued

Sold Prices	£35K - £525K
Sold Prices/m²	£1.1K/m² - £4.7K/m²

Square Metres	~91 m²
Price/m²	£1.9K/m²
Value Estimate	£141,318£141,318

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£42,500£42,500
Stamp Duty & Legal Fees	£10,600£10,600
Total Cash In	£53,100£53,100

Cash Out
Rent Range	£800 - £1,500£800 - £1,500
Rent Estimate	£1,025
Running Costs/mo	£756£756
Cashflow/mo	£269£269
Cashflow/yr	£3,225£3,225
ROI	6%6%
Gross Yield	7%7%

Local Sold Prices

29 sold prices from £35K to £525K, average is £125K. £1.1K/m² to £4.7K/m², average is £1.6K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£50K	04/22	1.09 mi	Flat 12, Lizafield Court, Holly Lane, Smethwick, West Midlands B66 1QL	-	-	3	Flat
£50K	08/22	1.09 mi	Flat 10, Lizafield Court, Holly Lane, Smethwick, West Midlands B66 1QL	-	-	3	Flat
£35K	04/22	1.1 mi	Flat 6, Lizafield Court, Holly Lane, Smethwick, West Midlands B66 1QL	-	-	3	Flat
£525K	06/21	1.48 mi	3, Moorland Road, Birmingham, West Midlands B16 9JP	£3,459	152	3	Flat
£140K	03/21	1.55 mi	Flat 6, St. Dennis House, Melville Road, Birmingham, West Midlands B16 9NE	-	-	3	Flat
£250K	03/21	1.59 mi	1, St Benedicts Close, West Bromwich, West Midlands B70 6TD	-	-	3	Flat
£200K	10/22	1.75 mi	13a, Wye Cliff Road, Birmingham, West Midlands B20 3TA	-	-	3	Flat
£425K	04/21	1.91 mi	Apartment 417, Amazon Lofts, Tenby Street, Birmingham, West Midlands B1 3AJ	-	-	3	Flat
£115K	02/21	1.91 mi	Flat 12a, Endwood Court, Handsworth Wood Road, Handsworth, Birmingham, West Midlands B20 2RZ	-	-	3	Flat
£132K	11/21	1.95 mi	1, Farm Croft, Birmingham, West Midlands B19 2UG	£1,553	85	3	Flat
£132K	11/21	1.95 mi	1, Farm Croft, Birmingham, West Midlands B19 2UG	£1,553	85	3	Flat
£190K	10/22	2 mi	50, Arden Grove, Ladywood, Birmingham, West Midlands B16 8HQ	-	-	3	Flat
£90K	01/22	2.04 mi	6, Westthorpe Grove, Birmingham, West Midlands B19 3DA	£1,098	82	3	Flat
£130K	12/22	2.06 mi	17, Westthorpe Grove, Birmingham, West Midlands B19 3DA	£1,831	71	3	Flat
£115K	03/22	2.06 mi	47, Westthorpe Grove, Birmingham, West Midlands B19 3DA	£1,438	80	3	Flat
£128K	03/22	2.15 mi	140, Great Hampton Row, Birmingham, West Midlands B19 3JL	-	-	3	Flat
£100K	12/22	2.17 mi	107, Great Hampton Row, Birmingham, West Midlands B19 3AY	£1,124	89	3	Flat
£99K	11/20	2.28 mi	72, Aldgate Grove, Birmingham, West Midlands B19 3XE	-	-	3	Flat
£98K	03/23	2.31 mi	Flat 3, Westminster Court, Lyndon Close, Handsworth, Birmingham, West Midlands B20 3NN	£1,361	72	3	Flat
£90K	12/21	2.31 mi	Flat 2, Westminster Court, Lyndon Close, Handsworth, Birmingham, West Midlands B20 3NN	-	-	3	Flat
£75.5K	10/23	2.34 mi	Flat 5, Wellington Court, Lyndon Close, Handsworth, Birmingham, West Midlands B20 3NL	-	-	3	Flat
£205K	02/23	2.35 mi	25, Roseland Way, Birmingham, West Midlands B15 1HD	£2,440	84	3	Flat
£315K	11/22	2.38 mi	7, Westbourne Gardens, Birmingham, West Midlands B15 3TJ	£4,736	67	3	Flat
£102K	03/23	2.44 mi	Flat 19, Hampton Court, George Road, Edgbaston, Birmingham, West Midlands B15 1PU	-	-	3	Flat
£125K	04/22	2.47 mi	3, Attenborough Close, Birmingham, West Midlands B19 2QA	£1,488	84	3	Flat
£235K	05/21	2.65 mi	4, Estria Road, Birmingham, West Midlands B15 2LQ	£2,829	83	3	Flat
£100K	09/21	2.72 mi	Flat 5, Henderson Court, Queensway, Oldbury, West Midlands B68 0JR	-	-	3	Flat
£112K	11/22	2.72 mi	Flat 5, Henderson Court, Queensway, Oldbury, West Midlands B68 0JR	-	-	3	Flat
£152K	07/23	2.97 mi	108b, Blandford Road, Birmingham, West Midlands B32 2LP	£1,267	120	3	Flat

Local Rents

15 rents from £800/mo to £1.5K/mo, average is £1.2K/mo.

Rent	Date	Distance	Address	Beds	Type
£1,100	12/24	0.17 mi	Messenger Road, B66	3	Detached House
£1,300	03/25	0.18 mi	-	3	Terraced House
£1,400	01/25	0.32 mi	-	3	Semi-Detached House
£1,200	12/24	0.39 mi	smethwick, B66	3	Detached House
£800	12/24	0.4 mi	Scribbans Close, Smethwick, West Midlands	3	Flat
£1,155	12/24	0.4 mi	Smethwick, West Midlands, B67	3	Terraced House
£1,500	03/25	0.43 mi	-	3	Terraced House
£1,450	02/24	0.44 mi	-	3	Semi-Detached House
£1,300	12/24	0.44 mi	Crocketts Lane, Smethwick, Birmingham	3	Detached House
£1,150	11/24	0.48 mi	-	3	Terraced House
£1,200	12/24	0.51 mi	Roslyn Close, Smethwick, West Midlands, B66	3	Terraced House
£1,300	04/25	0.57 mi	-	3	Terraced House
£900	12/24	0.59 mi	Earlsmead Road , Handsworth	3	Terraced House
£1,150	02/24	0.6 mi	-	3	Terraced House
£1,100	12/24	0.62 mi	Crocketts Road, Handsworth	3	Flat

Local Area Statistics

Population in B66	21,33521,335
Population in Smethwick	51,34451,344
Town centre distance	0.84 miles away0.84 miles away
Nearest school	0.30 miles away0.30 miles away
Nearest train station	0.52 miles away0.52 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+28%+28%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+32%+32%

Property History

Listed for £170,000

February 27, 2025

Floor Plans

Description

Three Bedrooms +
Duplex Flat +
First Floor +
No Upward Chain +
Spacious Living Area +
Close To Birmingham City Centre +
Fantastic Transport Links +
Call Oakmans Today +

* IDEAL FIRST TIME BUY OR INVESTMENT * NO UPWARD CHAIN * CENTRAL LOCATION *

Oakmans offer this large three bedroom duplex flat, situated on Oakfield Close, Birmingham. Ideally situated in a central location, offering fantastic transport links and within close proximity to local shops, schools and amenities.

The property offers a secure communal entrance with stairs to the first floor. Entering into the flat, you are welcomed by an entrance hallway with WC. The first floor offers a spacious lounge/diner and fitted kitchen. Upstairs benefits three good sized bedrooms and bathroom.

We have been advised by the owner that the property is Leasehold, and the owner has provided us with the following details of the Lease:

Current service charge per annum is £800
Current ground rent per annum is £10
The term of the Lease is 112 years remaining

Agent Details

Oakmans Estate Agents, Harborne

0121 387 6780

Next Steps?

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

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