Property Description: We are pleased to present an exceptional investment opportunity at 18 Spring Terrace, Swansea, which is currently available for auction. With a projected acceptance offer of £80,000, this property stands as a promising asset in a highly sought-after area.

Location and Accessibility: Situated in the heart of Swansea, this property boasts excellent proximity to key amenities. Local schools, parks, and health services are just a short walk away, making it ideal for families. Professionals will appreciate the easy access to public transport links, connecting them to the city centre and surrounding business districts. Furthermore, the area is well-connected to major roadways, facilitating commuting for residents.

Rental Demand: The rental market in Swansea is robust, with properties in this vicinity commanding rents of approximately £950 per month. Given the property's potential for renovation and expansion into a three-bedroom layout, we anticipate increased rental yields, appealing to both families and professionals. This flexibility makes it a viable option for tenants on income support, ensuring a diverse tenant pool.

Investment Value: The end value of this property is justified by the strong comparable properties sold within the area. Recent sales demonstrate consistent growth in property values, reinforcing the potential for a solid return on investment. With ongoing regeneration schemes in Swansea, the area's desirability is only expected to increase, further enhancing property values.

Renovation Potential: The current structure offers a straightforward renovation path. Key improvements include addressing roof issues and upgrading windows and doors. Our plans to relocate the bathroom will facilitate the creation of a third bedroom, maximising rental income potential.

Conclusion: Investing in 18 Spring Terrace represents a strategic opportunity in the South Wales property market. With strong rental demand, stable property values, and a clear path for value addition through renovations, this property is an attractive prospect for investors seeking reliable income-generating assets. Don't miss out on this exceptional opportunity to enhance your portfolio in a thriving location.

Number of Bedrooms (current): 2

Is there potential to add a bedroom?: Yes

Reception Rooms: 2

Bathrooms/shower-rooms: 1

Property Asking Price: £69,000 starting bid. Strong knowledge it will go for £80,000!

Agreed Sale Price: £80,000

Fair Market Value (DUV): £160,000

Comparable 1: Sold £158,000: https://www.rightmove.co.uk/house-prices/details/england-20485135?s=5cd2d12ade8effe7528a51d1a279b079dc234f51454cc1ce94b2eecce685500f

Comparable 2: Sold £156,000: https://www.rightmove.co.uk/house-prices/details/england-132793538-19548316?s=99b9a455f2c6da0d8ee3be67a339e859a59cd92e13570a8bcf80c7b82ce7412a

Comparable 3: Sold £158,950: https://www.rightmove.co.uk/house-prices/details/england-108287690-21505096?s=11eff0dc5184beb596ec7d15c09a52ff1ba6c6b92dc68e5b547f311fc3ce3e42

 Comparable 4: Sold £162,500: https://www.rightmove.co.uk/house-prices/details/england-20242213?s=11b2ca53c122f97f805c28d15980a10f186e2c68bd13f4adc00eadbd705d1e49

Comparable 5: Sold £175,000: https://www.rightmove.co.uk/house-prices/details/england-145076498-21505093?s=66cae09aded29458caaaafdb1217a5a1a72a257a31749f9a3ba35f1549f76a52

Comparable 6: Sold £165,000: https://www.rightmove.co.uk/house-prices/details/england-7332696-19548319?s=4e95229bf1a671d67f6fbfb40973dcb47af2c358e4e672e5209945f1f9aaf146

Comparable 7: Sold £163,000: https://www.rightmove.co.uk/house-prices/details/england-20705110?s=1f4770beef5fc9a2827e37950a8dd93f5b1f49680d67872365a08b02b64356b6

Market Status: auction (We have a direct relationship with the auction house)

Why is the property being sold?: Distressed Seller

Is the property in a lettable condition: No

Is the sale price negotiable?: Yes

Property Type: House

Freehold or Leasehold: Freehold

Is the property part of portfolio?: Yes, seller has more

Exit Strategy 1: Cash Purchase Flip (or bridge)

Exit Strategy 2: BTL

Exit Strategy 3: Capital Growth

If HMO strategy please select: Property is in an article 4 area and does not have an HMO licence from the local authority. Investor needs to apply.

Potential Target Demographic: Families and professionals

Refurbishments Required: 

Week 1: Rip Out and Prep for Build
Tasks: Remove old fixtures, fittings, and any debris from the property. 
Prepare the site for construction by ensuring all areas are clean and accessible.

Week 2: Install New Windows and Doors
Tasks: Remove old windows and doors. 
Install energy-efficient windows and secure doors for improved security and insulation.

Week 3: Repair Roof Over Current Bathroom
Tasks: Inspect and repair any issues with the roof above the bathroom. 
Ensure proper waterproofing and insulation is applied.

Week 4: Layout Adjustments
Tasks: Split the large kitchen to create space for the new bathroom and back door lobby. 
Ensure all structural changes meet building regulations.

Week 5: Create Kitchen Diner from Reception Room 1
Tasks: Open up the reception room to design a modern kitchen diner. 
Install necessary plumbing and electrical connections.

Week 6: Install Gas Central Heating System
Tasks: Install a new gas central heating system, including radiators and boiler. 
Ensure compliance with safety standards.

Week 7: Rewire Electrics
Tasks: Update the electrical system to meet current safety standards. 
Install new sockets, switches, and lighting fixtures.

Week 8: Plastering
Tasks: Plaster all newly created and repaired walls and ceilings. 
Ensure surfaces are smooth and ready for painting.

Week 9: Bathroom and Kitchen Supply and Fit
Tasks: Install new bathroom fixtures, including a shower, toilet, and sink. 
Fit the kitchen cabinetry, countertops, and appliances.

Week 10: Woodwork, Paint, and Final Touches
Tasks: Install woodwork, including doors, skirting boards, and architraves. 
Paint and decorate the entire property to create a fresh, inviting atmosphere. 
Lay carpets and flooring throughout the house. 
Present the garden and enhance curb appeal with landscaping.

Outcome: 
A beautifully finished property ready for rental or sale.

Conclusion: This detailed renovation schedule outlines a focused approach to transforming 18 Spring Terrace into a desirable property. By following this plan, we aim to create a modern living space that maximizes rental potential while remaining within budget. Each task is designed to enhance the property’s value and appeal to a wide range of tenants.

Estimated Refurbishment Costs: £40,000 + £4000 if you would like Tiger Burrows Renovation Management

Flip Figures

Purchase Price: £80,000

Refurb Costs: £40,000

Entry Legal Costs: £1600 + £4000 buyers premium = £5600

Exit Legal Costs: £1000

Stamp Duty: £4000

Survey Costs: £450

Tiger Burrows Consultation Fee: £3497

Estimated 6 months bills costs: £750

Estate Agent Selling Fees: £2500

Total Costs for investor: £137,797

Re-sale price (DUV): £160,000

Estimated Flip Profit: £22,203

BTL Figures

Purchase Price: £80,000

Refurb Costs: £40,000 + £4000 if you choose Tiger Burrows Renovation Management

Legal Costs: £1600 plus £4000 buyers premium = £5600

Stamp Duty: £4000

Survey: £450

Tiger Burrows Consultation Fee's: £3497

Estimated Rental Income: £950

New Mortgage: £500 @ 5% rates

Stress Test Mortgage: £600 2 6% rates

Estate Agent Rates: £95

MOE: £95

Cash Flow Most Likely: £260

Cash Flow Stress Test: £160