2 Bed Flat, Single Let, West Bromwich, B70 6HU, £115,000

Princes Gate, West Bromwich, West Midlands, B70 6HU - 1 views - 5 years ago

Leasehold
BTL
ROI: 5%
~68 m²
+3 photos

ValuationUndervalued

Sold Prices£55.5K - £148K
Sold Prices/m²£735/m² - £2.3K/m²

 

 

Square Metres

~68.11 m²
Price/m²£1.7K/m²

Value Estimate

£119,941
BMV4%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£28,750

Stamp Duty & Legal Fees

£4,650

Total Cash In

£33,400

 

 

Cash Out

 

Rent Range

£750 - £1,650

Rent Estimate

£650

Running Costs/mo

£509

Cashflow/mo

£141

Cashflow/yr

£1,688

ROI

5%

Gross Yield

7%

Local Sold Prices

45 sold prices from £55.5K to £148K, average is £100K. £735/m² to £2.3K/m², average is £1.8K/m².

PriceDateDistanceAddressBeds 
£105K12/220.02 mi12, Princes Gate, West Bromwich, West Midlands B70 6HU2
£103K11/210.02 mi59, Princes Gate, West Bromwich, West Midlands B70 6HU2
£101.5K04/210.02 mi43, Princes Gate, West Bromwich, West Midlands B70 6HU2
£92.5K12/220.02 mi15, Princes Gate, West Bromwich, West Midlands B70 6HU2
£62.5K08/220.12 mi19a, Jesson Street, West Bromwich, West Midlands B70 6PR2
£90K03/230.55 miFlat 2, Macauley House, Glover Street, West Bromwich, West Midlands B70 6DY2
£106K07/220.69 mi36, St Clements Lane, West Bromwich, West Midlands B71 4EU2
£115K11/220.98 mi56, Creed Way, West Bromwich, West Midlands B70 9JW2
£120K12/210.98 mi52, Creed Way, West Bromwich, West Midlands B70 9JW2
£57K01/210.99 mi35, Creed Way, West Bromwich, West Midlands B70 9JT2
£95K07/211.01 miFlat 259, Hallam Court, Hallam Street, West Bromwich, West Midlands B71 4HT2
£99.8K11/221.14 mi14, Austen Walk, West Bromwich, West Midlands B71 1RD2
£100K11/221.16 mi38, Church Vale, West Bromwich, West Midlands B71 4DB2
£85K05/211.26 mi4, Overton Place, West Bromwich, West Midlands B71 1RL2
£67K06/221.26 mi3, Overton Place, West Bromwich, West Midlands B71 1RL2
£107K02/221.32 mi60, Ford Street, Smethwick, West Midlands B67 7QY2
£100K10/221.34 mi134, Gladstone Street, West Bromwich, West Midlands B71 1ER2
£78K02/211.34 mi134, Gladstone Street, West Bromwich, West Midlands B71 1ER2
£95K08/221.36 miFlat 17, Poets Court, Old Meeting Street, West Bromwich, West Midlands B70 9AG2
£110K05/231.37 mi9, Westley Court, West Bromwich, West Midlands B71 1HH2
£92K08/211.37 mi35, Westley Court, West Bromwich, West Midlands B71 1HH2
£120K04/221.37 mi22, Westley Court, West Bromwich, West Midlands B71 1HH2
£122.5K01/211.45 mi6, Kellner Gardens, Oldbury, West Midlands B69 3DX2
£105K07/221.46 mi25, Kellner Gardens, Oldbury, West Midlands B69 3DX2
£101K01/231.46 mi23, Kellner Gardens, Oldbury, West Midlands B69 3DX2
£92.5K06/211.5 miFlat 12, Poets Court, Old Meeting Street, West Bromwich, West Midlands B70 9AG2
£90K02/211.5 miFlat 7, Poets Court, Old Meeting Street, West Bromwich, West Midlands B70 9AG2
£97K12/211.5 miFlat 14, Poets Court, Old Meeting Street, West Bromwich, West Midlands B70 9AG2
£86K03/211.51 mi42, Flash Road, Oldbury, West Midlands B69 4AE2
£130K09/221.52 mi5, Bromford Road, Oldbury, West Midlands B69 4BH2
£55.5K12/211.53 miFlat 4, Louis Court, South Road, Smethwick, West Midlands B67 7BT2
£148K06/231.57 miFlat 20, Gaiety House, Regent Street, Smethwick, West Midlands B66 3BF2
£97K06/231.66 mi39, Harrington Croft, West Bromwich, West Midlands B71 3RJ2
£98K12/201.66 mi95, Harrington Croft, West Bromwich, West Midlands B71 3RJ2
£103K04/211.66 mi73, Harrington Croft, West Bromwich, West Midlands B71 3RJ2
£107K10/211.66 mi67, Harrington Croft, West Bromwich, West Midlands B71 3RJ2
£125K06/231.66 mi111, Harrington Croft, West Bromwich, West Midlands B71 3RJ2
£95K11/221.72 mi124, Wiltshire Way, West Bromwich, West Midlands B71 1JU2
£116K06/231.77 miApartment 2, Elwell House, Shropshire Way, West Bromwich, West Midlands B71 1BJ2
£110K02/231.79 mi90, Princess Grove, West Bromwich, West Midlands B71 2DS2
£131K09/231.8 miApartment 3, Ridgeacre House, Shropshire Way, West Bromwich, West Midlands B71 1BZ2
£120K02/231.81 mi17, Barnstaple Road, Smethwick, West Midlands B66 3HN2
£80K06/221.81 mi71, Princess Grove, West Bromwich, West Midlands B71 2DS2
£97K07/211.97 mi6, Waterways Drive, Oldbury, West Midlands B69 2EX2
£87.5K06/211.99 mi16, The Moorings, Oldbury, West Midlands B69 2DD2

Local Rents

50 rents from £750/mo to £1.6K/mo, average is £1.2K/mo.

RentDateDistanceAddressBeds 
£75012/240.02 mi1 Princes Gate, Beeches Road, West Bromwich2
£85012/240.02 miPrinces Gate, WEST BROMWICH2
£85012/240.02 miPrinces Gate, WEST BROMWICH2
£92512/240.24 miBurlington Avenue, West Bromwich,West Midlands, B702
£1,10012/240.3 miBirmingham Road, West bromwich2
£90002/250.37 mi-2
£1,65004/250.39 mi-2
£80012/240.49 miBell Street, WEST BROMWICH2
£97012/240.68 miVictoria Street, WEST BROMWICH2
£95012/240.69 miSt. Clements Lane, WEST BROMWICH2
£97512/240.69 miSt. Clements Lane, WEST BROMWICH2
£82512/240.7 miWest Gate Plaza, West Bromwich2
£90012/240.88 miGrafton Road, West Bromwich, West Midlands, B712
£85002/240.88 mi-2
£87512/240.88 mi-2
£95004/250.88 mi-2
£77504/250.88 mi-2
£1,18002/240.96 mi-2
£1,18003/240.96 mi-2
£1,18003/240.96 mi-2
£1,18003/240.96 mi-2
£1,25003/240.96 mi-2
£1,17003/240.96 mi-2
£1,18003/240.96 mi-2
£1,18003/240.96 mi-2
£1,18003/240.96 mi-2
£1,17003/240.96 mi-2
£1,17003/240.96 mi-2
£1,17003/240.96 mi-2
£1,18003/240.96 mi-2
£1,17003/240.96 mi-2
£1,18003/240.96 mi-2
£1,18003/240.96 mi-2
£1,18003/240.96 mi-2
£1,18003/240.96 mi-2
£1,18003/240.96 mi-2
£1,18003/240.96 mi-2
£1,18003/240.96 mi-2
£1,18003/240.96 mi-2
£1,18003/240.96 mi-2
£1,18003/240.96 mi-2
£1,18003/240.96 mi-2
£1,18012/240.96 mi-2
£1,18012/240.96 mi-2
£1,18001/250.96 mi-2
£1,10003/250.96 mi-2
£85002/240.97 mi-2
£85002/240.97 mi-2
£85002/240.97 mi-2
£85002/240.97 mi-2

Local Area Statistics

Population in B70

27,772

Population in West Bromwich

58,705

Town centre distance

1.15 miles away

Nearest school

0.20 miles away

Nearest train station

0.36 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+13%

Sales demand

Balanced market

Capital growth (5yrs)

+33%

Property History

Listed for £115,000

September 9, 2020

Description

  • Second Floor Apartment in Modern Building +
  • Electrically Heated +
  • Double Glazed Windows +
  • Spacious Reception Room +
  • Modern Fitted Kitchen +
  • Two Bedrooms +
  • Master with En-suite Shower Room +
  • Currently Tenanted (see below information) +
  • Allocated Off-Road Parking +
  • Energy Performance Rating - D (61) +

Angel Estates - 'Your Housing Guardians' are pleased to offer this two bedroom, second floor apartment located with modern and much sought after residential area situated on the outskirts of West Bromwich Town Centre.

Benefiting from double glazed windows, electric heating, door entry intercom system and allocated parking as well as being in close proximity to local amenities including shopping centre, bus routes, Metro Line and M5/M6 motorway links.

Briefly comprising of:- Entrance into communal hallway with stairs to first and second floor landings. Door leads onto communal landing with entrance doors into individual apartments.

Entrance into hallway with storage and separate airing cupboards, panelled door's into family bathroom, spacious reception room with door off leading into fitted kitchen, bedroom two, master bedroom with separate En-suite shower room.

Externally, well maintained communal gardens and grounds with allocated parking and additional visitors spaces.

This property is an ideal purchase for the savvy investors amongst you. Call to arrange your viewing.

Entrance:
Paved pathway leads towards ground floor communal entrance with security intercom system and canopy above. Door leads into communal hallway with access to metering cupboard and staircase to first and second floors respectively. From second floor landing, panelled door towards left-hand side leads directly into property:-

Internal Hallway:
Carpeted flooring, wall mounted electric panel heater, pendant light fitting, smoke alarm and access to loft space within ceiling. From hallway, panelled door to left-hand side leads into:-

Airing Cupboard: (Unmeasured)
Carpeted flooring, large water tank with immersion heater and wooden shelving above. From hallway, panelled door to right-hand side leads into:-

Hallway Cupboard: (Unmeasured)
Carpeted flooring, wall mounted coat rail and electric fuse board. From hallway, panelled door to side leads into:-

Family Bathroom: 7'2'' x 5'8''
Carpeted flooring, wall mounted 'Atlantic heated towel rail', enclosed lighting and extraction fan to ceiling. Bathroom suite comprises of:- Panelled bath, low level flush toilet, built-in vanity unit with inset wash basin and taps, electric shaver socket to adjacent wall and partly tiled walls as splashback surrounding appropriate areas. From hallway, panelled door leads into:-

Reception Room: 14'5'' (max) 3'2'' (min, within recess) x 12'5'' (max, into recess) 10'8'' (min)
Carpeted flooring, wall mounted electric panel heater, separate fire surround with electric fire, two double glazed windows with additional secondary glazing to rear and side elevations, two pendant light fittings and smoke alarm to ceiling. Panelled door to side, leads into:-

Kitchen: 10'9'' x 7'2''
Vinyl tiled flooring, light fitting to ceiling, wall mounted electric panel heater and double-glazed window to side elevation. Range of kitchen base and wall units with roll top work surfaces, single bowl sink, drainer and mixer tap. Electric fan assisted oven with four ring electric hob and extractor hood above. Separate space for under counter fridge or freezer and separate space for washing machine. From hallway, panelled door leads into:-

Bedroom Two (Rear): 10'9'' x 6'7''
Carpeted flooring, wall mounted electric panel heater, pendant light fitting to ceiling and double-glazed window with secondary glazing to rear elevation. From hallway, panelled door leads into:-

Master Bedroom (Rear): 12'9'' x 8'3''
Carpeted flooring, wall mounted electric panel heater, pendant light fitting to ceiling and double-glazed window with additional secondary glazing to rear elevation. Panelled door to side, leads into:-

En-Suite Shower Room: 5'4'' x 3'6''
Carpeted flooring, wall mounted 'Atlantic heated towel rail', enclosed lighting and extraction fan to ceiling. Corner shower enclosure (tiled walls inside) with thermostatic shower above, pedestal wash basin with partly tiled wall as splash back and low-level flush toilet.

Communal Gardens and Grounds:
Surrounding the building wooden boundary fencing with well-maintained laid lawns, gravelled borders with mature shrubs and tree lined towards rear boundary. Communal waste bins are located opposite entrance adjacent free standing, lockable post boxes. Property has one allocated parking space with various additional 'visitor's spaces'.

Additional Charges:
According to documents supplied by the Vendor, for the current financial year, the property is subject a half yearly Service Charge of £798.05 (subject to potential change) and a separate half yearly ground rent of £52.50 (payable to different companies). Please be advised that additional fees could be incurred for items such as Leasehold Packs.

Local Authority Charge: (Financial Year 2024-25)
The property has been 'Banded A' (information correct as per Valuation Office Agency website) and falls under the jurisdiction of Sandwell Metropolitan Borough Council. For the current financial year, council tax charges are £1,351.88 per annum.

Please Note:
The property is currently rented for a £650.00 per calendar month (exclusive of bills) and the occupying tenants are currently on a periodic tenancy (until a buyer has been sourced). Vacant possession under separate negotiation.

Services:
All mains electricity and water are connected; none of these services have been tested during our inspection.

Tenure:
We are advised that the property tenure is Leasehold; confirmation of which should be obtained by reference to the title deeds and we believe that there is approximately 135 years (of 155) remaining on the lease (which commenced on 1st May 2004).

Agent Details

Angel Estates, Birmingham

0121 387 6550

Next Steps?

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