Fantastic Cash Flow £223 and money out in 2 years
Fantastic Cash Flow £223 and money out in 2 years
Secure this investment for £199
Figures in Brief
Asking Price: £49,995
Sale Agreed at: £39,500
Refurb Costs: £17,500
Estimated Done Up Value: £75,000
Flip Profit: £10,313
Cash Flow: £223
This is a 2 bedroom mid terraced double fronted property is in need of modernisation and updating. The property is vacant due to the previous owner moving into a home, it was clearly well loved when lived in.
The property consists of a large living/dining area with 2 large windows to the front of the property. The living area leads into the kitchen at the back of the property. The view from the kitchen window is the back garden that is patio making it very low maintenance and storage shed. There is access to the rear lane through the garden door. A small hallway then leads you from the kitchen into the bathroom which consists of a toilet, sink and shower over bath. Both the hallway and kitchen floor have some beautiful old school (approximately 1970's) tiles. Under the stairs there is a deep and good sized storage area.
Upstairs there are 2 decent sized bedrooms and a cupboard on the landing, useful for storage. Bedroom 1 benefits from 2 large windows front and back of the property benefiting from some great natural lighting into this room. Bedroom 2 has a large window with views to the front of the property.
The property does have some damp issues to be resolved. But for SMP this is all within our stride and expected on a property this age.
Flip Figures:
Purchase Price: £39,500
Expected Re-Sale: £75,000
Refurb Costs: £17,500
Entry Legals: £1200
Exit legal costs: £1200
Stamp Duty: £0
Survey: £280
Broker Fee: £400
Source My Property Consultant Fee: £1997
6 months of bills and mortgage: £900
Estate agent selling fees: £1710
Total Costs: £64,687
Profit on sale: £10,313
BTL Figures:
Estimated Monthly Mortgage: £140 (based off 3% on 75 LTV of £75,000)
Rental Income: £450
Letting Fees: £44
MOE: £45
Cash Flow 5% worst case: £130
Cash Flow 3% most likely: £232
Money Left in: £5,571
Years to money repaid: 2 years 1 months
Comparables:
Comparable 1: 37 West Taff Street, Mid Terrace, 2 Bed, Good Condition SOLD May 2017 £62,000
Comparable 2: 5 Leslie Terrace, Mid Terrace, 2 Bed, Excellent Condition SOLD June 2017 £89,500
Comparable 3: Primrose Terrace, Mid Terrace, 2 Bed, Good Condition STC asking price £79,950
Refurbishment works required:
- *Rip Out
*Re-Wire
*Re-Plaster
*New Kitchen and Tiles
*New Bathroom and Tiles
*Paint and Decorate
*Carpet and Flooring
*Internal Doors
*Front and Back Door
*Garden (make good/tidy)
Area Description:
This property is in the popular location of Porth town centre, walking distance to the train station, shops and other local amenities, offering easy access to the M4 corridor. Porth is a desirable and popular town, being a mere 4.3 miles from the A470 it is proving as a popular area to reside for quick links into the capital. A train from Porth to Cardiff takes an average of 41 minutes and just over 30 minutes if driving. Porth has the bypass A4233 that can link you North towards Ferndale in approximately 12 minutes or South towards Llantrisant within 15 minutes.
Hospital- Ysbyty Cwm Rhondda Hospital 3.5 miles and The Royal Glamorgan Hospital 6.4 miles away.
Primary Schools - Porth Junior School - 0.1 miles, Lwyncelyn Infants - 0.2 miles, Ysgol Gymraeg Llwyncelyn - 0.3 miles.
Secondary Schools - Ysgol Gyfun Cymer Rhondda - 0.5 miles, Porth County Community - 0.7 miles
Supermarkets- Morrisons is a few minutes walk around the corner from the property with a large car park, KFC, Farmfoods and Lidl are less than a mid away. Supermarket giant Aldi will be opening in Spring 2018 just metres away from existing Lidl store being built just metres from Lidl, increasing the scope for more jobs in the local area.
Leisure/Entertainment- Bronwydd Swimming Pool 0.5 miles, Showcase Cinema 9 miles, Porth Harlequins Rugby Football Club 1.1 miles.