2 Bed Flat, Single Let, Rossendale, BB4 7QY, £70,000

Bank Street, Rawtenstall, Lancashire, BB4 7QY - 3 views - 16 days ago

Leasehold
Auction
BTL
ROI: 12%
~68 m²
+6 photos

ValuationUndervalued

Sold Prices£71K - £340K
Sold Prices/m²£826/m² - £25K/m²

 

 

Square Metres

~68.11 m²
Price/m²£1K/m²

Value Estimate

£85,400
BMV22%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£17,500

Stamp Duty & Legal Fees

£4,700

Total Cash In

£22,200

 

 

Cash Out

 

Rent Range

£695 - £1,200

Rent Estimate

£575

Running Costs/mo

£354

Cashflow/mo

£221

Cashflow/yr

£2,655

ROI

12%

Gross Yield

10%

Local Sold Prices

25 sold prices from £71K to £340K, average is £158.5K. £826/m² to £25K/m², average is £1.8K/m².

PriceDateDistanceAddressBeds 
£183K08/220.18 miApartment 7, Ilex Mill, Bacup Road, Rawtenstall, Rossendale, Lancashire BB4 7NQ2
£180K02/230.18 miApartment 119, Ilex Mill, Bacup Road, Rawtenstall, Rossendale, Lancashire BB4 7NQ2
£181K06/220.18 miApartment 8, Ilex Mill, Bacup Road, Rawtenstall, Rossendale, Lancashire BB4 7NQ2
£170K07/220.18 miApartment 307, Ilex Mill, Bacup Road, Rawtenstall, Rossendale, Lancashire BB4 7NQ2
£160K04/210.18 miApartment 4, Ilex Mill, Bacup Road, Rawtenstall, Rossendale, Lancashire BB4 7NQ2
£158.5K03/210.18 miApartment 113, Ilex Mill, Bacup Road, Rawtenstall, Rossendale, Lancashire BB4 7NQ2
£188K12/200.18 miApartment 101, Ilex Mill, Bacup Road, Rawtenstall, Rossendale, Lancashire BB4 7NQ2
£165K01/210.18 miApartment 119, Ilex Mill, Bacup Road, Rawtenstall, Rossendale, Lancashire BB4 7NQ2
£160K04/210.18 miApartment 4, Ilex Mill, Bacup Road, Rawtenstall, Rossendale, Lancashire BB4 7NQ2
£167K06/220.18 miApartment 115, Ilex Mill, Bacup Road, Rawtenstall, Rossendale, Lancashire BB4 7NQ2
£120K03/210.63 mi18, Worston Close, Constable Lee, Rossendale, Lancashire BB4 8UP2
£238K06/210.86 miApartment 3, Lea Bank Hall, College Lane, Rawtenstall, Rossendale, Lancashire BB4 7LA2
£340K08/220.87 miApartment 7, Lea Bank Hall, College Lane, Rawtenstall, Rossendale, Lancashire BB4 7LA2
£85K04/230.94 miFlat 4, Cunliffe House, Bacup Road, Rawtenstall, Rossendale, Lancashire BB4 7JJ2
£80K02/231.36 mi63, Langwood Court, Haslingden, Rossendale, Lancashire BB4 5PW2
£83.5K02/211.36 mi60, Langwood Court, Haslingden, Rossendale, Lancashire BB4 5PW2
£80K06/221.38 mi10, Sizehouse Village, Haslingden, Rossendale, Lancashire BB4 6TD2
£86.5K02/211.38 mi13, Sizehouse Village, Haslingden, Rossendale, Lancashire BB4 6TD2
£179.9K10/201.46 miApartment 10, Victoria Mill, Victoria Parade, Rossendale, Lancashire BB4 9AD2
£125K07/211.66 mi47, Clough Gardens, Haslingden, Rossendale, Lancashire BB4 5AP2
£85K02/211.66 mi16, Clough Gardens, Haslingden, Rossendale, Lancashire BB4 5AP2
£95K04/211.66 mi22, Clough Gardens, Haslingden, Rossendale, Lancashire BB4 5AP2
£87K07/211.66 mi24, Clough Gardens, Haslingden, Rossendale, Lancashire BB4 5AP2
£95K03/211.66 mi14, Clough Gardens, Haslingden, Rossendale, Lancashire BB4 5AP2
£71K05/231.71 mi12, Sunnybank Street, Haslingden, Rossendale, Lancashire BB4 5DQ2

Local Rents

16 rents from £695/mo to £1.2K/mo, average is £888/mo.

RentDateDistanceAddressBeds 
£69512/240.09 miKay Street, Rossendale2
£85012/240.11 miQueens Apartments, 1 Bank Street, Rawtenstall, BB42
£69512/240.12 miSouth Street, Rawtenstall, Rossendale, Lancashire, BB42
£92508/230.17 mi-2
£82507/230.18 mi-2
£95011/230.18 mi-2
£1,20006/240.18 mi-2
£1,00012/240.18 mi-2
£1,20012/240.18 mi-2
£1,20008/240.18 mi-2
£1,00008/240.18 mi-2
£1,20003/250.18 mi-2
£80002/240.18 mi-2
£85001/250.18 mi-2
£80003/240.26 mi-2
£80006/240.58 mi-2

Local Area Statistics

Population in BB4

41,137

Town centre distance

1.32 miles away

Nearest school

0.20 miles away

Nearest train station

4.92 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+16%

Sales demand

Balanced market

Capital growth (5yrs)

+26%

Property History

Listed for £70,000

March 14, 2025

Description

  • GREAT INVESTMENT OPPORTUNITY +
  • LARGE 2 BED APARTMENT +
  • RENTED AT £450 PCM +
  • MASTER BEDROOM WITH EN SUITE +
  • TOWN CENTRE LOCATION +
  • GAS CENTRAL HEATING +
  • UPVC DOUBLE GLAZING +

BEING SOLD VIA MODERN METHOD OF AUCTION

INVESTMENT PROPERTY BEING SOLD WITH TENANT LOCATED IN RAWTENSTALL TOWN CENTRE

A superb opportunity for a landlord to add to their portfolio or for a first time landlord. to acquire this huge 2 bedroom first floor apartment in the town centre of Rawtenstall producing a healthy rental income of £575 per calendar month. The property boasts a huge open plan living room and kitchen, 2 double bedrooms, master with en suite shower room, modern 3 piece bathroom, gas central heating and double glazing.

Auctioneer Comments
This property is for sale by Modern Method of Auction allowing the buyer and seller to complete within a 56 Day Reservation
Period. Interested parties’ personal data will be shared with the Auctioneer (iamsold Ltd).
If considering a mortgage, inspect and consider the property carefully with your lender before bidding. A Buyer Information
Pack is provided, which you must view before bidding. The buyer will pay £300 inc VAT for this pack.
The buyer signs a Reservation Agreement and makes payment of a Non-Refundable Reservation Fee of 4.5% of the purchase
price inc VAT, subject to a minimum of £6,600 inc VAT. This Fee is paid to reserve the property to the buyer during the
Reservation Period and is paid in addition to the purchase price. The Fee is considered within calculations for stamp duty.
Services may be recommended by the Agent/Auctioneer in which they will receive payment from the service provider if the
service is taken. Payment varies but will be no more than £450. These services are optional Auctioneer Comments
This property is for sale by Modern Method of Auction allowing the buyer and seller to complete within a 56 Day Reservation
Period. Interested parties’ personal data will be shared with the Auctioneer (iamsold Ltd).
If considering a mortgage, inspect and consider the property carefully with your lender before bidding. A Buyer Information
Pack is provided, which you must view before bidding. The buyer will pay £300 inc VAT for this pack.
The buyer signs a Reservation Agreement and makes payment of a Non-Refundable Reservation Fee of 4.5% of the purchase
price inc VAT, subject to a minimum of £6,600 inc VAT. This Fee is paid to reserve the property to the buyer during the
Reservation Period and is paid in addition to the purchase price. The Fee is considered within calculations for stamp duty.
Services may be recommended by the Agent/Auctioneer in which they will receive payment from the service provider if the
service is taken. Payment varies but will be no more than £450. These services are optional

Located in the heart of Rawtenstall town centre with al the amenities on offer to include bus station, motorway access and shopping facilities.

Agent Details

Entwistle Green, Burnley

01282 953014

Next Steps?

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