Property Address: Farm Road, Neath.

Property Description: 

2-bedroom Townhouse with Huge Potential to become 3 bedrooms! 

This secured-sale 2-bedroom townhouse offers an incredible investment opportunity, not only due to its location in a sought-after area for both sales and rentals but also because it is available below market value. The property requires renovation, making it ideal for buyers looking to add value through improvements.

What sets this property apart is its potential for expansion. With a large garage beneath the main living space, there’s a fantastic opportunity to convert it into a spacious third bedroom with an ensuite. This transformation would turn the house into a generous 3-bedroom family home, significantly boosting its appeal and value.

The property itself is designed in a townhouse style:
- Ground Floor: Includes a garage and passageway to the back garden.
- First Floor: Features a well-sized kitchen and living room.
- Second Floor: Offers two bedrooms and a family bathroom.

The plan is to convert the garage, modernise the interior, and revitalise the outdoor space, giving the garden a much-needed tidy-up to enhance its presentation. Whether you're looking for a renovation project to sell or rent out, this home offers substantial upside potential.

Number of Bedrooms (current): 2

Is there potential to add a bedroom?: Yes, the garage conversion to a bedroom and ensuite

Reception Rooms: 1

Bathrooms/shower rooms: 1

Property Asking Price: £115000

Agreed Sale Price: £75000

Fair Market Value (DUV): £145,000

Comparable 1: Sold STC - £140,0000 3 bedroom terrace: https://www.rightmove.co.uk/properties/149005550#/?channel=RES_BUY

Comparable 2: On the Market - £165,000 3 bedroom terrace: https://www.rightmove.co.uk/properties/153137669#/?channel=RES_BUY

Comparable 3: On the Market - £174,000 3 Bedroom Terrace: https://www.rightmove.co.uk/properties/149348726#/?channel=RES_BUY

Extra Comparable Properties: 

Sold STC - £180,000 3 bedroom terrace: https://www.rightmove.co.uk/properties/150511934#/?channel=RES_BUY
On the Market - £190,000 e Bedroom Semi Detached: https://www.rightmove.co.uk/properties/152673887#/?channel=RES_BUY
Sold £130,000 - 2 Bedroom Terrace: https://www.rightmove.co.uk/house-prices/details/england-147234437-21505369?s=4d2960c27845b8175067c07696f942f9c98f227542fcc3cd931c8f0eb9b07d4e#/
Sold £130,000 - 2 Bedroom Terrace: https://www.rightmove.co.uk/house-prices/details/england-20705359?s=22c555f5dd07fc95ecd3bdda2fbed4ed91c9382296715a8b1789ed62a507ce52#/
Sold £168,000 3 Bedroom End Of Terrace: https://www.rightmove.co.uk/house-prices/details/england-43943626-21242365?s=7e6c981cca5553dc18c0adfef496d56dd497bd5cc042aa401a5a0d45e876a3ce#/
Sold £132,000 3 Bedroom terrace: https://www.rightmove.co.uk/house-prices/details/england-147234437-21505369?s=4d2960c27845b8175067c07696f942f9c98f227542fcc3cd931c8f0eb9b07d4e#/

Market Status: Sale Secured by Sourcing Agent

Why is the property being sold?: The landlord or co-operate selling off assets

Is the property in a lettable condition: Yes

Is the sale price negotiable?: No

Property Type: House

Freehold or Leasehold: Freehold

Is the property part of portfolio?: No

Exit Strategy 1: BTL

Exit Strategy 2: Cash Purchase Flip (or bridge)

Exit Strategy 3: Capital Growth

If HMO strategy please select: N/A

Potential Target Demographic: Families

Refurbishments Required: 

Building Control Inspection
Rip Out
Garden Clearance
Garage Conversion Build Works & Window Installs
First Fix Electrics
First Fix Plumbing
Stud Work & Insulation
Boarding & Plaster Prep
Plastering
Woodwork & Trimmings
Kitchen Supply & Fit
Bathroom and Ensuite Supply & Fit
Painting & Decorating
Carpet & Flooring
Snagging & Finishing

Estimated Refurbishment Costs: £40,000

Flip Figures

Purchase Price: £75,000

Refurb Costs: £40,000

Entry Legal Costs: £1600

Exit Legal Costs: £1000

Stamp Duty: £3000

Survey Costs: £450

Broker Fee: £0

SMP Consultation Fee: £2997

Estimated 6 months bills costs: £750

Estate Agent Selling Fees: £2262

Total Costs for investor: Cash: £123,047. If lending £69,284

Re-sale price (DUV): £145,000

Estimated Flip Profit: If cash £21,953 and if lending £16,103

BTL Figures

Purchase Price: £75000

Refurb Costs: £40,000

Legal Costs: £1600

Stamp Duty: £3000

Survey: £450

Broker Fee: £0

SMP Consultation Fee's: £2997

Estimated Rental Income: £900

New Mortgage: At 5% lending = £453.13

Stress Test Mortgage: Tested at 6% lending = £543.75

Estate Agent Rates: £90

MOE: £90

Cash Flow Most Likely: £266.88

Cash Flow Stress Test: £176.25

Area Description: 

Area Description: Briton Ferry, Neath Port Talbot

Briton Ferry is a well-established residential area within Neath, offering a convenient and family-friendly environment. Located just a 5-minute drive or a 15-minute walk from Neath town centre, the area provides easy access to a range of amenities and services. Public transport is readily available, with local train stations and bus stops nearby, making commuting hassle-free.

The property is ideally situated close to reputable primary and comprehensive schools, making it an excellent choice for families. Additionally, within walking distance are supermarkets, gyms, and various social and recreational activities, enhancing the convenience of daily living.

Briton Ferry is highly regarded for its strong rental market, making it a prime location for buy-to-let investors. It also offers excellent opportunities for property flips, particularly appealing to young families and first-time buyers looking for a comfortable and well-connected place to call home.

Nearest Train Station: Briton Ferry 770 yards, Neath Port Talbot 1.4 miles