Flip this run down cottage in Ystradgynlias for £32k profit!
Flip this run down cottage in Ystradgynlias for £32k profit!
Snap up this corporate-owned cottage, fully renovate and sell onwards!
Figures in Brief:
Purchase Price: £90,000
Renovation Costs: £55,000
End value: £190,000
Potential Profit: £32,000
You can reserve this deal for £299 here. The fee is fully refundable if you decide not to proceed after completing your due diligence.
Property Address: Home Farm, Ystradgynlais,
Investment Opportunity: Corporate-Owned Repossessed Property
This two-bedroom period cottage, located in the peaceful yet high-demand area of Ystradgynlais, presents an exciting opportunity for investors. As a repossessed and corporate-owned property, we are currently seeking an investor ready to reserve this deal. To proceed, we will need the buyer's details along with proof of funds to cover the transaction. Please note that this purchase is subject to a 28-day completion timeline.
Property Overview: This charming cottage, rich in character, offers significant renovation potential. While in need of a full refurbishment throughout, it holds the promise of becoming a beautiful home or a high-demand Airbnb. With the right vision, it could be transformed into a cozy retreat full of period charm.
The ground floor features:
Spacious kitchen-diner
Comfortable living room
Downstairs bathroom
Utility area
Upstairs, the current layout includes two bedrooms, with the potential for a third by converting the adjoining dressing room. Minor layout adjustments would make this a flexible space for modern living.
Potential Returns: Based on estimates from local estate agents, a well-renovated cottage of this nature could be listed for around £190,000, making this a substantial investment opportunity.
Number of Bedrooms (current): 2
Is there potential to add a bedroom?: Yes
Reception Rooms: 1
Bathrooms/shower-rooms: 1
Property Asking Price: £90000
Agreed Sale Price: Repossession - sale price can change
Fair Market Value (DUV): £190,000
Info: No like for like comparable in the area as it is a cottage adjoined to a farm in a secluded area. Peter Alan Estate agent estimated end valuation to be approx £190,000 if renovated to a high standard and will have no problem reselling due to the demand in the area.
Market Status: on the market
Why is the property being sold?: Repossession
Is the property in a lettable condition: No
Is the sale price negotiable?: No
Property Type: House
Freehold or Leasehold: Freehold
Is the property part of portfolio?: No
Exit Strategy 1: Cash Purchase Flip (or bridge)
Exit Strategy 2: BTL
Exit Strategy 3: N/A
If HMO strategy please select: N/A
Potential Target Demographic: Families, retired couple, first home.
Refurbishments Required: Full renovation required.
Required Renovations:
Rip out existing interiors
Install new windows and doors
Reconfigure floor plan with stud work
Damp course treatment
1st fix electrics and plumbing
Install new boarding
Complete full plastering
Repair/replace woodwork and timber
Install a fully new kitchen and bathroom
2nd fix electrics and plumbing
Painting and decorating
Install new carpet and flooring
Full garden clearance and landscaping
External repairs and repainting
This detailed list provides a clear scope of the work required to restore the property to its full potential. Once the deal is resrved, full fixed price builders quotes will be obtained.
Estimated Refurbishment Costs: £55000
Flip Figures
Purchase Price: £90000
Refurb Costs: £55000
Entry Legal Costs: £1600
Exit Legal Costs: £1000
Stamp Duty: £3600
Survey Costs: £450
Broker Fee: £0
SMP Consultation Fee: £2997
Estimated 6 months bills costs: £750
Estate Agent Selling Fees: £2600
Total Costs for investors: £157,997
Re-sale price (DUV): 190000
Estimated Flip Profit: £32,003 is done cash, £30,064 estimated done with lending costs.
BTL Figures
Purchase Price: £90000
Refurb Costs: £55000
Legal Costs: £1600
Stamp Duty: £3600
Survey: £450
Broker Fee: £0
SMP Consultation Fee's: £2997
Estimated Rental Income: £1000
New Mortgage: £593.75 (@5%)
Stress Test Mortgage: £7125.50 (@6%)
Estate Agent Rates: £100
MOE: £100
Cash Flow Most Likely: £206.25
Cash Flow Stress Test: £87.50
Area Description:
Nearest Train Station: Neath train station
Any key journey times: 30 minutes from Swansea City centre and 15 minute drive from the M4 with.
Walking distance to restaurants and sports clubs