2 Bed Flat, Refurb/BRRR, Blackpool, FY3 9HN, £69,950

Whitegate Drive, Blackpool, FY3 9HN - 1 views - a month ago

Leasehold

Refurb/BRRR

ROI: 5%

~68 m²

+3 photos

ValuationOvervalued

Sold Prices	£45K - £150K
Sold Prices/m²	£672/m² - £2K/m²

Square Metres	~68.11 m²
Price/m²	£1K/m²
Value Estimate	£65,189£65,189

End Value (After Refurb)	£106,596£106,596
Uplift in Value	+52%+52%

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£17,488£17,488
Stamp Duty & Legal Fees	£4,698£4,698
Refurb Costs	£27,823£27,823
Bridging Loan Interest	£1,836£1,836
Total Cash In	£53,594£53,594

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£106,596£106,596
Mortgage (After Refinance)	£79,947£79,947
Mortgage LTV	75%75%
Cash Released	£27,485£27,485
Cash Left In	£26,109£26,109
Equity	£26,649£26,649
Rent Range	£433 - £1,500£433 - £1,500
Rent Estimate	£725
Running Costs/mo	£498£498
Cashflow/mo	£227£227
Cashflow/yr	£2,723£2,723
ROI	5%5%
Gross Yield	12%12%

Local Sold Prices

25 sold prices from £45K to £150K, average is £65K. £672/m² to £2K/m², average is £966/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£78K	03/21	0.2 mi	9, Somerset Court, Blackpool FY1 5QQ	£1,013	77	2	Flat
£58K	05/21	0.26 mi	26, Condor Grove, Blackpool FY1 5LT	£906	64	2	Flat
£87K	01/23	0.37 mi	Flat C, 189, Bloomfield Road, Blackpool FY1 6QH	-	-	2	Flat
£90K	04/23	0.4 mi	36, Lomond Avenue, Blackpool FY3 9QL	£1,607	56	2	Flat
£52.5K	03/23	0.41 mi	22, Condor Grove, Blackpool FY1 5JU	-	-	2	Flat
£55K	03/21	0.42 mi	55a, Grasmere Road, Blackpool FY1 5HP	£887	62	2	Flat
£50K	07/21	0.42 mi	59f, Grasmere Road, Blackpool FY1 5HP	£847	59	2	Flat
£58K	02/21	0.42 mi	53f, Grasmere Road, Blackpool FY1 5HP	£957	61	2	Flat
£78K	12/22	0.42 mi	2f, South Lawn, Blackpool FY4 4BN	-	-	2	Flat
£55K	07/23	0.42 mi	1c, South Lawn, Blackpool FY4 4BN	£843	65	2	Flat
£45K	03/21	0.42 mi	1d, South Lawn, Blackpool FY4 4BN	£672	67	2	Flat
£49.5K	11/20	0.44 mi	408f, Waterloo Road, Blackpool FY4 4BL	£798	62	2	Flat
£58K	04/23	0.44 mi	408c, Waterloo Road, Blackpool FY4 4BL	-	-	2	Flat
£150K	10/20	0.59 mi	176, Preston Old Road, Blackpool FY3 9QY	£1,875	80	2	Flat
£80K	07/22	0.59 mi	21, Eccleston Road, Blackpool FY1 6AU	£1,270	63	2	Flat
£65K	04/21	0.64 mi	Flat 39, Grizedale Court, Forest Gate, Blackpool FY3 9AP	-	-	2	Flat
£77K	10/22	0.8 mi	Flat 6, Dutton Court, Dutton Road, Blackpool FY3 8DH	-	-	2	Flat
£70K	01/21	0.81 mi	129, St Heliers Road, Blackpool FY1 6JD	-	-	2	Flat
£65K	11/21	0.85 mi	Flat 8, The Maltings, Yorkshire Street, Blackpool FY1 5BF	£966	67	2	Flat
£70K	10/22	0.87 mi	116, Boston Way, Blackpool FY4 4YB	£1,147	61	2	Flat
£49K	02/21	0.91 mi	91, Boston Way, Blackpool FY4 4YQ	£1,000	49	2	Flat
£107K	10/22	0.95 mi	Flat 11, Carrick Mews, Kingsley Road, Blackpool FY3 9US	-	-	2	Flat
£63.5K	05/21	0.96 mi	162 - 164, Caunce Street, Blackpool FY1 3NJ	-	-	2	Flat
£62K	02/21	0.98 mi	Flat 7, Claughton Mansions, Harcourt Road, Blackpool FY4 3ES	-	-	2	Flat
£120K	10/22	0.99 mi	8, Camborne Court, Blackpool FY3 9NS	£2,034	59	2	Flat

Local Rents

49 rents from £433/mo to £1.5K/mo, average is £695/mo.

Rent	Date	Distance	Address	Beds	Type
£695	05/24	0 mi	Whitegate Drive, Blackpool, FY3	2	Flat
£695	05/24	0 mi	-	2	Flat
£695	05/24	0 mi	-	2	Flat
£725	04/24	0 mi	-	2	Flat
£725	04/24	0 mi	Whitegate Drive, Blackpool, FY3	2	Flat
£850	04/24	0.06 mi	Whitegate Drive, Blackpool, Lancashire, FY3	2	Flat
£780	04/24	0.11 mi	Cunliffe Road, Blackpool, Lancashire, FY1	2	Terraced House
£850	02/25	0.11 mi	-	2	Terraced House
£950	04/24	0.15 mi	-	2	Flat
£850	04/24	0.15 mi	-	2	Flat
£625	04/24	0.2 mi	Somerset Court, Blackpool, Lancashire, FY1	2	Flat
£750	01/25	0.23 mi	-	2	Semi-Detached House
£995	04/24	0.24 mi	-	2	Flat
£795	12/24	0.24 mi	-	2	Flat
£750	04/24	0.28 mi	Preston Old Road, Blackpool, Lancashire, FY3	2	Semi-Detached House
£825	01/25	0.35 mi	-	2	Flat
£825	03/25	0.35 mi	-	2	Flat
£700	04/24	0.37 mi	Westmorland Avenue, Blackpool	2	Terraced House
£695	04/24	0.38 mi	Briercliffe Mews, Marton	2	Bungalow
£563	04/24	0.39 mi	Portland Road, Blackpool, FY1 4EF	2	Terraced House
£550	05/24	0.41 mi	Portland Road, Blackpool	2	Terraced House
£625	03/25	0.41 mi	-	2	Flat
£675	05/24	0.41 mi	Preston Old Road, FY3 9QJ	2	Terraced House
£525	05/24	0.41 mi	Preston Old Road, Blackpool " AVAILABLE WITH ZERO DEPOSIT "	2	Terraced House
£670	04/24	0.42 mi	Grasmere Road, Blackpool	2	Flat
£625	04/24	0.42 mi	South Lawn, Blackpool	2	Flat
£625	04/24	0.43 mi	Ashton Road, Blackpool	2	Terraced House
£433	04/24	0.45 mi	-	2	Flat
£600	04/24	0.45 mi	-	2	Flat
£595	02/25	0.47 mi	-	2	Terraced House
£825	12/24	0.47 mi	-	2	Terraced House
£750	02/25	0.47 mi	-	2	Terraced House
£1,500	04/24	0.49 mi	-	2	Terraced House
£1,000	05/24	0.49 mi	-	2	Terraced House
£1,000	04/24	0.49 mi	Vicarage Lane, Blackpool, FY4	2	Terraced House
£750	04/24	0.49 mi	-	2	Terraced House
£900	04/24	0.49 mi	Ashton Road,Blackpool,FY1	2	Flat
£650	04/24	0.51 mi	Vicarage Lane, Blackpool	2	Terraced House
£520	01/25	0.51 mi	-	2	Flat
£675	04/24	0.52 mi	Anderson Street, Blackpool, FY1	2	Terraced House
£725	04/24	0.52 mi	Reads Avenue, Blackpool, Lancashire, FY1	2	Flat
£600	04/24	0.52 mi	Flat B,164 Reads Avenue, Blackpool, Lancashire, FY1	2	Flat
£575	04/24	0.52 mi	Newhouse Road, Blackpool, Lancashire, FY4	2	Flat
£542	04/24	0.52 mi	Newhouse Road, Blackpool, Lancashire, FY4	2	Flat
£750	04/24	0.57 mi	Hornby Road, Blackpool	2	Flat
£685	12/24	0.59 mi	-	2	Flat
£450	04/24	0.61 mi	Flat 5, Central Drive, Blackpool, FY1 5JN	2	Flat
£650	05/24	0.62 mi	Central Drive, Blackpool	2	Flat
£700	05/24	0.62 mi	Central Drive, Blackpool	2	Flat

Local Area Statistics

Population in FY3	31,56931,569
Population in Blackpool	133,713133,713
Town centre distance	1.06 miles away1.06 miles away
Nearest school	0.20 miles away0.20 miles away
Nearest train station	0.99 miles away0.99 miles away

Rental demand	Tenant's marketTenant's market
Rental growth (12m)	+2%+2%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+15%+15%

Property History

Listed for £69,950

February 28, 2025

Floor Plans

Description

Needs further updating +
TWO bedrooms +
Lounge +
Private BALCONY +
Fitted kitchen +
Bathroom +
UPVC double glazing +
Garage +
Close to STANLEY PARK +
Close to LOCAL SHOPS +

TWO BEDROOM with GARAGE and PRICED TO SELL

This first floor purpose built apartment would benefit from FURTHER MODERNISATION, but is very attractively priced to sell quickly. Especially given its current features. In brief, TWO bedrooms, a lounge with private BALCONY, fitted kitchen almost 14ft x 7ft and an invaluable GARAGE to the rear.
In addition, the property is located within just 200 yards of LOCAL SHOPS and 0.2 miles of the multi AWARD-WINNING STANLEY PARK
No chain.