3 Bed Semi-Detached House, Refurb/BRRR, Oldbury, B69 3HA, £89,000

18 Salop Street, Oldbury, B69 3HA - 4 views - a month ago

Sold STC
Auction
Refurb/BRRR
ROI: 10%
65 m²
+11 photos

ValuationFair Value

Sold Prices£100K - £280K
Sold Prices/m²£1.3K/m² - £3.5K/m²

 

 

Square Metres

65 m²
Price/m²£1.4K/m²

Value Estimate

£90,780

 

 

End Value (After Refurb)

£121,711

Uplift in Value

+37%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£22,250

Stamp Duty & Legal Fees

£3,870

Refurb Costs

£25,720

Bridging Loan Interest

£2,336

Total Cash In

£55,927

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£121,711

Mortgage (After Refinance)

£91,283

Mortgage LTV

75%

Cash Released

£24,533

Cash Left In

£31,394

Equity

£30,428

Rent Range

£525 - £1,400

Rent Estimate

£1,101

Running Costs/mo

£621

Cashflow/mo

£480

Cashflow/yr

£5,765

ROI

10%

Gross Yield

15%

Local Sold Prices

50 sold prices from £100K to £280K, average is £178.5K. £1.3K/m² to £3.5K/m², average is £2.2K/m².

PriceDateDistanceAddressBeds 
£235K03/210.04 mi91, Albion Street, Oldbury, West Midlands B69 3EY3
£121K10/200.06 mi151, Dudley Road East, Oldbury, West Midlands B69 3DT3
£160K11/220.13 mi50, Theodore Close, Oldbury, West Midlands B69 3EF3
£180K02/210.13 mi57, Theodore Close, Oldbury, West Midlands B69 3EF3
£265K07/220.23 mi70, Summerton Road, Oldbury, West Midlands B69 2GF3
£214K09/210.27 mi2, George Wood Avenue, Oldbury, West Midlands B69 2GG3
£205K03/210.27 mi4, George Wood Avenue, Oldbury, West Midlands B69 2GG3
£225K06/220.29 mi3, Embassy Road, Oldbury, West Midlands B69 2GD3
£240K04/210.3 mi2, Embassy Road, Oldbury, West Midlands B69 2GD3
£200K05/230.35 mi73, Brades Rise, Oldbury, West Midlands B69 2HG3
£232K07/220.36 mi17, Regan Drive, Oldbury, West Midlands B69 2GB3
£185K11/200.37 mi60, Shinwell Crescent, Tividale, Oldbury, West Midlands B69 3LQ3
£245K04/210.4 mi6, Morgan Close, Oldbury, West Midlands B69 2GA3
£200K10/200.42 mi38, Lower City Road, Tividale, Oldbury, West Midlands B69 2HF3
£140K04/210.42 mi94, Dingle Street, Oldbury, West Midlands B69 2DY3
£186.5K06/210.42 mi41, St James Road, Oldbury, West Midlands B69 2EA3
£190K06/210.44 mi78, St James Road, Oldbury, West Midlands B69 2DX3
£177K09/210.46 mi79, Ashtree Road, Tividale, Oldbury, West Midlands B69 2HH3
£160K11/200.46 mi78, Ashtree Road, Tividale, Oldbury, West Midlands B69 2HH3
£210K12/200.46 mi87, Ashtree Road, Tividale, Oldbury, West Midlands B69 2HH3
£150K06/210.46 mi30, Florence Road, Oldbury, West Midlands B69 2DN3
£177K03/230.46 mi68, Florence Road, Oldbury, West Midlands B69 2DN3
£213.9K03/230.48 mi3, The Dingle, Oldbury, West Midlands B69 2DT3
£157K05/210.49 mi3, Florence Road, Oldbury, West Midlands B69 2DW3
£140K06/230.5 mi28, Dudley Road East, Tividale, Oldbury, West Midlands B69 3HJ3
£166K01/210.5 mi41, Ashtree Road, Tividale, Oldbury, West Midlands B69 2HD3
£150K10/200.5 mi48, Ashtree Road, Tividale, Oldbury, West Midlands B69 2HD3
£280K11/200.52 mi15, Lower City Road, Tividale, Oldbury, West Midlands B69 2HA3
£175K06/210.53 mi9, New Birmingham Road, Tividale, Oldbury, West Midlands B69 2JJ3
£148K04/230.55 mi15, Tower Road, Tividale, Oldbury, West Midlands B69 1ND3
£155K04/210.55 mi35, Dovey Road, Tividale, Oldbury, West Midlands B69 1NT3
£268K06/220.57 mi2, Leslie Rise, Tividale, Oldbury, West Midlands B69 1LT3
£199K04/230.57 mi6, Leslie Rise, Tividale, Oldbury, West Midlands B69 1LT3
£177K03/210.57 mi35, Leslie Rise, Tividale, Oldbury, West Midlands B69 1LT3
£186K09/210.6 mi61, Temple Way, Tividale, Oldbury, West Midlands B69 3JR3
£148K02/210.6 mi75, Temple Way, Tividale, Oldbury, West Midlands B69 3JR3
£185K04/230.61 mi21, Tower Road, Tividale, Oldbury, West Midlands B69 1NB3
£185.5K09/210.61 mi41, Tower Road, Tividale, Oldbury, West Midlands B69 1NB3
£168.5K01/230.61 mi20, Mckean Road, Oldbury, West Midlands B69 4AY3
£150K11/210.62 mi14, Lawley Street, West Bromwich, West Midlands B70 9DU3
£175K08/210.62 mi46, Mckean Road, Oldbury, West Midlands B69 4AZ3
£210K03/210.64 mi149, City Road, Tividale, Oldbury, West Midlands B69 1QP3
£190K04/230.64 mi155, City Road, Tividale, Oldbury, West Midlands B69 1QP3
£171K01/210.64 mi93, Macdonald Close, Tividale, Oldbury, West Midlands B69 3LD3
£188K09/210.64 mi79, Macdonald Close, Tividale, Oldbury, West Midlands B69 3LD3
£123.5K11/220.65 mi113, Oldbury Road, West Bromwich, West Midlands B70 9EA3
£100K11/210.66 mi102, Mckean Road, Oldbury, West Midlands B69 4BA3
£164.3K12/200.67 mi16, Timothy Road, Tividale, Oldbury, West Midlands B69 1NS3
£160K06/210.68 mi68, Tower Road, Tividale, Oldbury, West Midlands B69 1NA3
£165K03/210.68 mi87, Tower Road, Tividale, Oldbury, West Midlands B69 1NA3

Local Rents

47 rents from £525/mo to £1.4K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£1,15011/230.04 mi-3
£1,25012/240.11 mi-3
£1,37512/240.24 mi-3
£1,00012/240.3 miEmbassy Road, Oldbury, B693
£1,25012/240.31 mi-3
£1,00012/240.41 miFountain Lane, OLDBURY3
£1,15004/250.47 mi-3
£97512/230.49 mi-3
£1,25004/250.54 mi-3
£1,25003/250.64 mi-3
£95002/240.68 mi-3
£99503/250.68 mi-3
£1,25001/250.71 mi-3
£1,09002/250.74 mi-3
£1,07502/250.74 mi-3
£1,40012/230.76 mi-3
£1,40003/240.76 mi-3
£1,20002/240.81 mi-3
£87501/250.83 mi-3
£97503/250.83 mi-3
£1,20003/250.84 mi-3
£1,00012/240.84 miCallaghan Drive, Tividale, OLDBURY3
£1,30002/240.84 mi-3
£1,25012/230.86 mi-3
£1,25012/240.87 miLudgate Close, Tividale, Oldbury, West Midlands, B693
£52512/240.87 mi-3
£1,20001/250.89 mi-3
£85012/240.92 mi-3
£1,00012/240.92 mi-3
£99512/240.94 miElm Terrace, Oldbury3
£85012/240.95 miNewbury Lane, Oldbury, West Midlands, B693
£1,05003/250.99 mi-3
£1,17512/241 mi-3
£1,20012/241.04 mi-3
£1,20012/241.04 mi-3
£1,05002/241.1 mi-3
£1,25012/241.13 miLeopard Lane, WEST BROMWICH3
£1,19512/241.14 miPackwood Road, Tividale, Oldbury , B69 1UL3
£1,35003/251.16 mi-3
£1,05012/241.16 miPhoenix Street, West Bromwich,West Midlands, B703
£1,20001/251.19 mi-3
£1,05012/241.22 miRailway Street, West Bromwich, B703
£1,05003/241.22 mi-3
£1,20003/251.22 mi-3
£1,05002/241.22 mi-3
£1,10012/241.22 miMason Street, West Bromwich, B703
£1,05012/241.22 miMason Street, West Bromwich, B703

Local Area Statistics

Population in B69

29,011

Population in Oldbury

59,935

Town centre distance

1.36 miles away

Nearest school

0.20 miles away

Nearest train station

0.61 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+16%

Sales demand

Balanced market

Capital growth (5yrs)

+28%

Property History

Listed for £89,000

February 28, 2025

Floor Plans

Description

For Sale By Public Auction on 27 March 2025 starting at 08:30 AM - A vacant freehold semi detached property

A semi detached property standing back from the road behind a shared driveway and foregarden.

Accommodation
Ground Floor: Porch, Hall, Understairs Cupboards, Two Reception Rooms, Kitchen.
First Floor: Landing, Three Bedrooms, Bathroom/WC.
Outside: Gardens.
The property benefits from having a gas fired central heating system and UPVC double glazing however it is in need of modernisation.

Auctioneer's Note
Please note that the completion period for this property is 8 weeks (56 days).
Please note no offers will be considered prior to the Auction Sale.

Viewing Times
Viewings will be carried out on a block viewing basis. The times and dates will be available from Thursday 6th March 2025, please revisit our website after this date.

Live-Streamed Auction
Please note that the Auction will be livestreamed via our website. You can take part remotely via Proxy, Telephone or Online, if you wish to bid you must pre-register via our website no later than 3pm the day prior to the auction.

Disclaimer
Bond Wolfe or their Agents for the seller of these Lots give notification that any particulars contained within the catalogue/website are prepared to the best of their knowledge and include information that has been provided to them. Plans, photographs and room measurements (provided via a 3rd party) are provided as guidance only and should not be relied upon. All potential buyers should make their own enquiries and investigations to the accuracy of the information contained in these particulars or to obtain further information that is not provided which they deem to be important prior to bidding. Any amendments to the particulars that Bond Wolfe are aware of will be published on the addendum, which is available within the lot information.

Viewings
All viewings are undertaken at your own risk. It is recommended that you take a torch, as not all properties have electricity, and that appropriate clothing is worn. Bond Wolfe under no circumstances shall be liable and will not accept any responsibility for any indirect incidental, consequential, special, or exemplary damages, injury and/or death arising in connection with your access to any property, caused as a result of the property’s state of repair or your use/decision to use your own equipment or any furniture, equipment or appliances in the property.

*Definition of Guide Price and Reserve
All properties are sold subject to a reserve price, which is the minimum price the seller is willing to accept and is confidential between the seller and Auctioneer. The guide price is only an indication as to where the reserve is currently set and not necessarily the Auctioneers expectation of what it will sell for. . If the guide price is a bracket figure, then the reserve price cannot be higher than the top end of the guide price, if the guide price is a fixed figure, then the reserve cannot be more than 10% above the guide price. The guide price and reserve price can be subject to change at any time up to and including the auction day and, properties can often sell for substantially more than the quoted guide price.

Costs at Auction
When buying at auction you will unconditionally exchange contracts on the fall of the auctioneer’s gavel, please therefore ensure you have read the legal pack for each property prior to bidding. They are all individual and include the terms and conditions of your purchase as well as any costs in addition to the purchase price.

The sale of each lot is subject to an administration fee of £2,340 inc VAT (£1,950.00 + VAT) (unless otherwise stated in the important information available on Bond Wolfe’s website), payable on the fall of the gavel/at the end of the online auction. Please note that the administration fee for the Local Authority lots may differ and all interested parties should enquire directly with the Auctioneers as to the fee applicable.

Any additional costs excluding the administration fee will be listed in the Special Conditions within the legal pack and these costs will be payable on completion. The legal pack has been prepared by the seller’s solicitor(s), who are responsible for its contents and disclosing all know information. It is available to download free of charge under the ‘lot information’ on the Bond Wolfe website, and you take responsibility for reading and understanding the legal pack and are bound by all the contents. Any stamp duty and/or government taxes are not included within the Special Conditions within the legal pack and all potential buyers must make their own investigations.

Agent Details

Bond Wolfe, Auctions

0121 387 6767

Next Steps?

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