Auction is a very popular method of selling properties right now! In order to service our clients the best we can we work with auction houses to make pre-auction offers! That was we can have exclusive opportunity to secure the best deals!

PROPERTY DESCRIPTION

An opportunity to purchase this (110 square Metres) mid-terrace property as a pre-auction sale. What this means is we have opportunity to snap this property up for this price before it goes to auction. If you reserve this deal, it is still subject to auction conditions which means that you will be required to exchange and complete within 28 days!

This house consists of an enclosed entrance foyer, hallway, THREE reception rooms and a kitchen on the ground floor. Upstairs are THREE double-sized bedrooms and a family bathroom. The enclosed rear garden can be accessed from a side door to the kitchen. The garage roof has collapsed from the overgrowth plants; our recommendation is to demolish it and extend the garden into this space.

The property is about an 8-minute drive to Swansea Train station. This property is close to local schools, shops, amenities and transport links to Swansea and beyond.

• The property is located in an area popular with families and renters, as it is close to schools, shops and local amenities.

• The existing kitchen has fitted cabinets, a gas cooker and an oven.

• A gas-fired boiler provides the heating and hot water to the property. The Vaillant Boiler looks new, hence the recommendation to service it.

• The family bathroom is fitted with a bath, loo and sink.

• Garden spaces are in the front and rear of the property. The garage roof has collapsed and there is rear lane access.

• The lean-to space has been bricked off, which once removed could provide additional access to the rear garden.

• The property next door (i.e. No. 43) was listed on the market with Clee Thompkinson Francis on the 6th of October, 2023 for £219,995.
URL. https://www.zoopla.co.uk/property-history/43-margaret-terrace/st-thomas/swansea/sa1-8hn/65771133/

Exit Strategy - Flip

Buy-To-Sell (BTS) resale value ranges from £165K to £225K (for this source pack information, £185,000 is used as the DUV value)

Pre-tax profit estimated at £19,030.36

ROI* = 23.9%

GDV*** = 10.3%

Examples of properties On the Market (OTM) within a 1/2-mile-square radius and for sale up to the value of £225,000 within the last 3 months:

• OTM £180,000 Ysgol Street, SA1 3 Bedroom End of Terrace Listed 04/05/24 Peter Alan

• OTM £175,000 Danygraig Road, SA1 3 Bedroom Terrace Listed 16/04/24 John Francis

• OTM £180,000 Jersey Road, SA1 3 Bedroom Terrace Listed 02/04/24 John Francis Reduced on 16/05/24 to £170,000

Sold subject to contracts Sold STC or under-offer U/O properties within the last 6 months

• Sold STC £180,000 Danygraig Road SA1 3 Bedroom Property Listed 18/08/23 Strike Reduced on 01/02/24

• Sold STC £170,000 Danygraig Road SA1 3 Bedroom Terrace Listed 29/05/24 Pinkmove

• Sold STC £170,000 Bay Street SA1 3 Bedroom Terrace Listed 04/04/24 Dawsons

• Sold STC £187,500 Upton Terrace, SA1 3 Bedroom Terrace Listed 04/03/24 Clee Reduced on 15/03/24 to £179,995

Exit Strategy - Buy To Let

• Buy-To-Let (BTL) rental at £1,200 per calendar month.

• Cashflow @ 5.75% = £295.16 per calendar month

• THREE bedrooms Terrace property Done-up-value DUV ranges from £165,000 to £225,000

• Cashflow if the property is refinanced at an estimated valuation of £185,000 75% (Loan to value) LTV = £138,750

• At 5.75% New Interest ONLY remortgage = £664.84
  [ £1,200 less monthly lettings fees £120 (10%) and less monthly maintenance £120 (10%) and less mortgage £664.84 ] = £295.16

• Return on investment ROI* = 15.1%

• Cash left in the deal = £23,477.94

• Break Even Period BEP** = 6 years and 6 months