2 Apartments in Llanelli for great BTL yield!
2 Apartments in Llanelli for great BTL yield!
This mid-terrace property (that has been split into a ground-floor One-bedroom apartment and a Two-bedroom apartment - upstairs) is about a 2-minute walk to Llanelli train station and 35 35-minute drive to Swansea Town Centre. This property is close to local schools, shops, amenities and transport links to Swansea and beyond.
Figures in Brief:
Purchase Price: £100,000
Renovation Costs: £25,000
Done Up Value Estimate: £160,000
Rental Income: £1000 (In current condition)
Rental Income: £1200 (After renovation)
Cash Flow in current condition: £225
Cash Flow post renovation: £400
• Property located in an area popular with families and renters.
• Each apartment, has a kitchen with fitted cabinets, an electric hob and an oven.
• The bathrooms are fitted with a shower cubicle, loo and sink.
• There is an enclosed rear manageable garden with a rear lane access.
• Each apartment has a separate electricity meter and compliant customer unit.
• The ground floor apartment has a tenant who has been served notice but wants to stay and is willing to pay more than the £450 per calendar month.
Exit Strategy - Flip
Buy-To-Sell (BTS) resale value ranges from £135K to £185K for this source pack information, £160,000 is used as the DUV value
Pre-tax profit estimated at £15,703.68
ROI* = 23.8%
GDV*** = 9.8%
Examples of properties On the Market (OTM) within half a mile-square radius and for sale up to the value of £170,000 within the last 3 months
OTM £99,995 Queens Loft, SA15 2 Bedroom Apartment Listed 21/08/24 Willows Estate
OTM £122,500 Princess Court, SA15 2 Bedroom Apartment Listed 23/05/24 Thornes
OTM £55,000 Tir Einon, SA15 1 Bedroom Apartment Listed 14/03/24 Mallard Estate
OTM £89,995 Bryntirion, SA15 1 Bedroom Apartment Listed 15/09/22 Thornes
Sold subject to contracts Sold STC or under-offer U/O properties within the last 9 months
Sold STC - £86,500 Princess Court, SA15 2 Bedroom Apartment. Listed 18/08/23 Davies Craddock Reduced on 28/05/24
U/O - £54,995 Bryn Siriol, SA14 1 Bedroom Apartment Listed 10/02/24 Thornes
Exit Strategy - Buy To Let
• Buy-To-Let (BTL) rental at £1,000 per calendar month.
• Cashflow @ 5.75% = £225.00 per calendar month
• Terrace property split into a One Bedroom Apartment (Ground floor) & a Two Bedroom Apartment (Upstairs)
Done-up-value DUV ranges from £135,000 to £185,000
• Cashflow if the property is refinanced at an estimated valuation of £160,000 75% (Loan to value) LTV = £120,000
• At 5.75% New Interest ONLY remortgage = £575.00
[ £1,000 less monthly lettings fees £100 (10%) and less monthly maintenance £100 (10%) and less mortgage £575.00 ] = £225.00
• Return on investment ROI* = 12.9%
• Cash left in the deal = £20,925.13
• Break Even Period BEP** = 7 years and 8 months
