Property Address: Clydach, Swansea, SA6

Property Description: This unique property is located in the desirable village of Clydach, Swansea. Once the local corner shop, it has since transformed into a spacious residence with exceptional character, situated directly along the scenic canal. The house boasts beautiful period features and expansive canal views, offering a serene and picturesque setting. While the property requires complete renovation throughout, its large size and rich history present a remarkable opportunity. Comparable homes in the area suggest a potential resale value above £225,000, making this an attractive investment at the current purchase price of £117,000.

The property is run-down and dated but holds substantial potential. Upstairs, there are three bedrooms and a bathroom, with the front bedroom large enough to be divided to create a fourth bedroom. Adding a fourth bedroom could significantly increase both property value and rental income. However, for the purpose of this source pack, end value figures and rental projections are conservatively based on a well-presented three-bedroom layout. Under promise, over deliver!

Number of Bedrooms (current): 3

Is there potential to add a bedroom?: Yes

Reception Rooms: 2

Bathrooms/shower-rooms: 1

Property Asking Price: £130,000

Agreed Sale Price: £117000

Fair Market Value (DUV): £245000

Comparable 1: 1. £200k STC - 3 bed 1 bath https://www.rightmove.co.uk/properties/148120646#/?channel=RES_BUY

Comparable 2: 2. £222k SOLD - 3 bed 1 bath https://www.rightmove.co.uk/house-prices/details/england-134145113-19550635?s=0adc25f2643cc5ddc8cecfee34f0626234b5436ebbac4abb67ebe86c6ac10064#/

Comparable 3: 3. £150k Dated needs reno - 3 bed 1 bath https://www.rightmove.co.uk/properties/150458786#/?channel=RES_BUY

If no comparables, please state why there are no direct comparables: 

4. £225k - 3 bed 1 bath. Good comp
https://www.rightmove.co.uk/properties/147696809#/?channel=RES_BUY

5. £250k, 3 bed 1 bath - stunning house, good model to wor off for the finish 
https://www.rightmove.co.uk/properties/150887702#/?channel=RES_BUY

6. £240k 3 bed 3 bath, special house: https://www.rightmove.co.uk/properties/149620481#/?channel=RES_BUY

7. £225k SOLD STC - Good comp: https://www.rightmove.co.uk/properties/147696809#/?channel=RES_BUY

8. On the market £220k 3 bed 1 bath
https://www.rightmove.co.uk/properties/145068797#/?channel=RES_BUY

9. Example of what can be achieved with a 4 bed and a very high end renovation. £390k 4 bed 2 bath
https://www.rightmove.co.uk/properties/153908852#/?channel=RES_BUY

Market Status: Sale Secured by Sourcing Agent

Why is the property being sold?: Distressed Seller

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: Capital Growth

If HMO strategy please select: N/A

Potential Target Demographic: Families

Refurbishments Required: 

• Rip Out

• Windows and Doors

• Clear Garden for Off-Street Parking

• Studwork and Boarding for 4th Bedroom

• Electrical Rewire

• Plumbing and Heating

• Boarding and Plaster Preparation

• New Kitchen

• New Bathroom

• Full Replaster

• Woodwork and Trimming

• Painting and Decoration

• Carpet and Flooring

• Garden fencing and presentation 

• Curb Appeal

Estimated Refurbishment Costs: £50,000

Flip Figures

Purchase Price: £117,000

Refurb Costs: £50,000

Entry Legal Costs: £1600

Exit Legal Costs: £1000

Stamp Duty: £4680

Survey Costs: £450

Broker Fee: £0

Tiger Burrows Consultation Fee: £3997

Estimated 6 months bills costs: £750

Estate Agent Selling Fees: £3510

Total Costs for investor: If all cash £182,987, If lending estimated £91,000

Re-sale price (DUV): £225000

Estimated Flip Profit: £40,000

BTL Figures

Purchase Price: £117,000

Refurb Costs: £50,000

Legal Costs: £1600

Stamp Duty: £3510

Survey: £450

Broker Fee: £0

Tiger Burrows Consultation Fee's: £3997

Estimated Rental Income: £950

New Mortgage: £703

Stress Test Mortgage: £843

Estate Agent Rates: £95

MOE: £95

Cash Flow Most Likely: £58.68

Cash Flow Stress Test: -£83

Area Description: