Merthyr Tydfil flip for £19,537 profit!
Merthyr Tydfil flip for £19,537 profit!
Reserve this investment for for £249!
Figures in Brief:
Asking Price: £85,000
Sale Agreed at: £70,000
Refurb Costs: £20,000
Estimated Done Up Value: £120,000
Flip Profit: £19,537
Cash Flow (BTL): £235
Property Description: EXCELLENT LOCATION, IN THE HEART OF MERTHYR TYDFIL!! This is a three bedroom mid terrace property that is located in the heart of Merthyr Tydfil.The property is a bit dated and is now in need of some modernisation and updating ready for another family to enjoy it's benefits. The property could benefit from having off road parking to the back of the property as there is rear lane access and currently a free standing garage.
There is a separate hallway as you walk in with the stairs in front of you leading up to the three bedrooms. On your left in the hallway is the door to the large reception room, this would have originally been two separate reception rooms. There is an under the stairs cupboard which can always useful for storage. The door to the back of the reception room leads into the kitchen, which currently has great floor space giving great scope for a modern kitchen to be fitted and enjoyed. Behind the kitchen are two door that lead into the WC and shower room. The WC has a window to the side of the property and the large shower room with sink also contains a double cupboard that used to house the water tank, so the room is fairly spacious!
Upstairs are the three bedrooms with that benefit from tall ceilings and large windows giving natural lighting int all rooms. The landing is spacious and has a cupboard also that could either be used to benefit or knocked out and used for other purposes.
Property Address: MERTHYR TYDFIL, South Wales
Number of Bedrooms (current): 3
Is there potential to add a bedroom?: No
Reception Rooms: 1
Bathrooms/shower-rooms: 1
Property Asking Price: £85000
Agreed Sale Price: £70000
Fair Market Value (DUV): 120000
Comparable 1: 9 Cromwell Street, Merthyr Tydfil CF47 8RY - SOLD £130,000 - 30th June 2017 - 4bed Excellent Condition
Comparable 2: 16 Cromwell Street, Merthyr Tydfil CF47 8RY - SOLD £137,500 - 17th January 2017 - 4bed Excellent Condition
Comparable 3: 16 Cromwell Street, Merthyr Tydfil CF47 8RY - SOLD £137,000 - 30th March 2016 - 3bed Great condition
Market Status: on the market
Why is the property being sold?: Sale identified by sourcer (pen market)
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: 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 re plaster/damp treatment where necessary
*Full Rewire
*New Kitchen and Tiles
*New Bathroom (4 piece) and Tiles
*Double Glazed Windows x3
*Internal doors throughout
*Front and back door
*Paint and Decorate throughout
*Carpet and Flooring throughout
*Landscape/Clear back garden
Refurbishment Costs: £20,000
Flip Figures (Buy, Renovate, Sell)
Purchase Price: £70000.00
Refurb costs: £20000.00
Entry legal costs: £1200.00
Exit legal costs: £1200.00
Stamp Duty: £2100.00
Survey: £450.00
Broker Fee: £400.00
SMP Consultation Fee: £2497.00
6 months of bills: £1248.00
Estate agent selling fees: £1368.00
Total: £100463.00
RESALE PRICE: £120000.00
Profit: £19537.00
BTL Figures (Buy To Let)
Purchase Price: £70000.00
Deposit required 75% LTV: £20000.00
Refurb costs: £20000.00
Legal costs: £1200.00
Stamp Duty: £2100.00
Survey: £450.00
Broker Fee: £400.00
SMP Consultation Fee: £2479.00
6 months of bills: £1248.00
6 months mortgage: £1050.00
Total required: £48927.00
Rental Income: £575.00
New Mortgage (3%): £225.00
EA Rate (10%): £57.00
MOE rate (10%): £57.00
CASH FLOW: £235.00
Money Left In: £10275.00
Years to paid back: 3
Area Description: Merthyr Tydfil known to be a tourist hotspot all year round with one of three national parks in Wales within an hour from the property... The Brecon Beacons. The Brecon Beacons are one of four ranges of mountains and hills in South Wales which make up the Brecon Beacons National Park. The National Park was established in 1957, the third of the three Welsh parks after Snowdonia in 1951 and the Pembrokeshire Coast National Park in 1952. Merthyr Tydfil is a town with a population of approximately 63,546, at one time the largest town in Wales, today it's the country’s fourth largest urban area of population. Situated in the historic county of Glamorgan. Administered by Merthyr Tydfil County Borough Council. The National Cycle Route 8 passes through the town and Bikepark Wales is the UK's first purpose-built mountain biking centre, is located at Gethin Woods, Merthyr Tydfil.
The Brecon Mountain Railway is easily accessible by cycle and car, it is a 1 ft 11 3⁄4 in (603 mm) narrow gauge tourist railway on the south side of the Brecon Beacons. The railway's starting point at Pant is located two miles (3 km) north of the town centre of Merthyr Tydfil. One of the benefits of the line, and a condition of the planning permission, is that tourists can access and experience part of the Brecon Beacons National Park without driving their cars through it.
A large Tesco Extra 1.1 miles away, ALDI 1.1 miles, ASDA 3.9 miles, Lidl 3.9 miles and Merthyr Tydfil train station is 0.5 miles away.
Cyfarthfa Retail Park 1.1 miles from the property, a large mall just off the A470 perfect for any shopping occasion with great parking facilities, multiple outlets including Next Home, River Island, New Look, Debhanams, M&S, TK Maxx, Argos, B&Q and a few more.
The Vertigo Trampoline park 0.8 miles immerse yourself in the bounce experience that is Vertigo Trampoline Park! Vertigo is the largest trampoline park in Wales offering over 40,000 square feet of free bounce and endless activities to keep children and adults satisfied for hours on end.
Merthyr Tydfil Leisure Village 1.3 miles - is the perfect place to socialise in the area with a number of amenities and entertainment opportunities for the whole family. It's 1.3 miles from the property with a VUE Cinema, Costa Coffee, Arcade, Superbowl, Laser Quest, a Leisure Centre including a Swimming pool and a number of restaurants including Nandos, Frankie and Bennys, Harvester, McDonalds, Chinese, Subway, Firefly pub and restaurant and a Travelodge hotel.
Trago Mills 1.1 miles - known as 'The South West's Original Discounted Retailer' - BRAND NEW to Merthyr in Spring 2018 after years of planning and an 18 month build, we opened our £65 million store on Saturday 21st April. We were blessed with glorious Welsh sunshine for pretty much the whole day and we welcomed 12,000 people through the doors. With competitive prices, this means that locals have great variety and option when shopping in the town.
Nearest Train Station: Merthyr Tydilf 0.5 miles
Any key journey times: Merthyr Tydfil is a large town in Wales, with a population of about 63,546, situated approximately 23 miles north of Cardiff. At one time the largest town in Wales, Merthyr Tydfil is today its fourth largest urban area by population. It is described as being an all year round tourist hot spot due to its proximity to one of three national parks in Wales.
Shopping Mall, Cyfarthfa Retail Park, Trago Mills 1.1 miles
Hospital - Prince Charles Hospital 1.8 miles
Keir Hardie University Health Park 1.4 miles
Primary schools - Cyfarthfa Park Primary School 0.3 miles, Gwaunfarren Primary School 0.4 miles, Ty Dysgu 0.4 miles
Secondary school - Cyfarthfa High School 0.5 miles, Bishop Hedley High School 0.6 miles
DW Sport Fitness Merthyr Tydfil - 1.1 miles, Cinema, Bowling//Swimming, Restaurants 1.3 miles
Brecon Beacons National Park 19 miles North.
Guidelines towards achieving the desired outcome; in order for you to take full advantage of this process; the following helps:
Pay deposit to Source My Property (SMP) to secure the deal (and this deal would be removed or marked as sold, from all our advertising/ marketing portals). Then, do your own due diligence.
Provide certified photographic forms of identification e.g. driving license, passport etc.
Utility bill; to confirm your residential address (i.e. recent or within the last 3 months).
Proof of funds (POF) e.g. bank statements with sensitive information blacked-out, mortgage application in principle (AIP) from a broker/ financial institution; to cover the full purchase price.
Broker/ financial institutions details (i.e. name; practice name; address; contact telephone number and email address) to act on your behalf in the financial transfer of funds when required to complete the purchase.
When could you visit the property or properties? Ideally, within the first 7 days.
Solicitor details (i.e. name; practice name; address; contact telephone number and email address) to act on your behalf in legal conveyancing.
SMP operates in trust with its potential investors. SMP is registered with the Property Ombudsman Group. SMP prides itself on delivering BMV deals with accuracy and confidence. The sourcing fee for this deal is £2497 which is paid on completion of the sale. A £249 deposit is required to secure the deal which is refundable if the investor decides not to proceed to an agreed sale with the vendor, ie after viewing. The deposit is not refundable if the investor pulls out of the purchase after sale agreed.
SMP takes no responsibility if deals “fall through” for matters out of our control. It is always highlighted that property investment carries an element of risk and ultimately a deal may not be successful. There for deal owners are advised to carry out their own due diligence to confirm for themselves the findings SMP present. SMP has no control of the UK property market prices and investments can be lost or profit margins shortened with the fluctuating market