Tonypandy offers a great BTL with £241 cash flow or flip for £14k profit
Tonypandy offers a great BTL with £241 cash flow or flip for £14k profit
Reserve this investment for £199 right here!
Figures in Brief:
Asking Price: £59,960
Sale Agreed at: £54,000
Refurb Costs: £18,000
Estimated Done Up Value: £95,000
Flip Profit: £14,042
Cash Flow (BTL): £241.88
Property Description: This is a 3 bedroom mid terrace property smack bang in the between a number of useful daily amenities, including a train station, a hospital, primary school, post office, premier stores shop, ASDA superstore and petrol station, McDonalds and a hairdressers. It also benefits from having rear lane access with the potential to add off road parking to the rear garden.
There is a separate hallway that has laminate wood strip flooring, as you walk into the property with the large reception room to the right, this would have once been two separate reception rooms. The large window to the front and internal window into the kitchen give this room lots of natural lighting, there is also an under stairs storage cupboard. To the back of the reception room is the door with a step down into the kitchen. The kitchen is of a good size, a dining table would be best in the large reception room so the kitchen has floor space to maneuver around. The window in this kitchen is single glazed so this will need to be replaced with double glazing. Just off the kitchen to the left is the three piece bathroom with a window to the back of the property. The door to the back garden is in the kitchen, there are steps down into the garden, it has a decking area, shed storage and is quite minimal as there is no grass/plants/flowers. An option could be to add off road parking to the back to add value and appeal to the buyers/renters.
Upstairs are the three bedrooms, two are located to the front of the house and one to the back with views to the back garden and mountains in the distance, this bedroom currently holds a fitted cupboard housing wall mounted gas condensing boiler which runs the hot water and central heating. This will be replaced with an up to date boiler along with any pipework and boxing needed.
This house is in need of some modernising and adding value to so it can be rented out or sold on to either a family, a working professional or a couple looking to add to their family.
We believe this property to be in a lettable condition however we are not qualified to make this assumption, this is merely based on our experiences as property investors ourselves.
Source Team: Source My Property
Property Address: Tonypandy, CF40
Number of Bedrooms (current): 3
Is there potential to add a bedroom?: NO
Reception Rooms: 1
Bathrooms/shower-rooms: 1
Property Asking Price: £59950 - Originally asking £69950
Agreed Sale Price: £54000
Fair Market Value (DUV): £95000
Comparable 1: 123 Partridge Road, Tonypandy, CF40 2LU - SOLD £90,000 - 10 March 2017 - 2bed - Good condition
Comparable 2: 55 Partridge Road, Tonypandy, CF40 2LR - SOLD £55,000 - 19 January 2018 - 2bed - Dated condition
Comparable 3: 25 Sherwood Street, Tonypandy, CF40 2TB - SOLD £106,500 - 27 Nov 2017 - 3bed with loft - Great condition
Market Status: on the market
Why is the property being sold?: Sale identified by sourcer (open 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: BTL
Exit Strategy 2: Cash Purchase Flip (or bridge)
Exit Strategy 3: Capital Growth
If HMO strategy please select: N/A
Potential Target Demographic: Families
Refurbishments Required:
*Rip out/ re plaster where necessary
*Double Glazed Window in Kitchen
*Internal Doors throughout
*New Front and Back Door
*New Combi-Boiler System
*New Kitchen and Tiles
*New Bathroom and Tiles
*Paint and Decorate throughout
*Carpet and Flooring throughout
*Garden - make good (optional- there is potential to add off road parking)
Refurbishment Costs: £18000
Flip Figures (Buy, Renovate, Sell)
Purchase Price: £54000.00
Refurb costs: £18000.00
Entry legal costs: £1200.00
Exit legal costs: £1200.00
Stamp Duty: £1620.00
Survey: £450.00
Broker Fee: £400.00
SMP Consultation Fee: £1997.00
6 months of bills: £1008.00
Estate agent selling fees: £1083.00
Total: £80958.00
RESALE PRICE: £95000.00
Profit: £14,042.00
BTL Figures (Buy To Let)
Purchase Price: £54000.00
Deposit required 75% LTV: £13500.00
Refurb costs: £18000.00
Legal costs: £1200.00
Stamp Duty: £1620.00
Survey: £280.00
Broker Fee: £400.00
SMP Consultation Fee: £1997.00
6 months of bills: £1008.00
6 months mortgage: £810.00
Total required: £38,815.00
Rental Income: £525.00
LET AGREED - Tyntyla Avenue, Tonypandy, CF40 2SP - 3bed - £520pcm Great condition
LET AGREED - Eleanor Street, Tonypandy, CF40 - 3bed - £550pcm Great condition
New Mortgage (3%): £178.13
EA Rate (10%): £52.50
MOE rate (10%): £52.50
CASH FLOW: £241.88
Money Left In: £9740.00
Years to paid back: 3.3
Area Description: The property is in a prime location with all amenities at your door step. Around the corner is a Premier Stores for your emergency needs, a few minutes walk is a post office. McDonalds and ASDA superstore with petrol station are 0.7 miles or a 3 minute drive, for another option there is a Lidl 2.5 miles or a 6 minute drive. The Llwynypia train station is 0.4 miles and a 38 minute car journey to Cardiff or 35 minutes North to the up and coming Merthyr Tydfil. The Ysbyty Cwm Rhondda Hospital is 0.1 miles so just a couple of minutes walk from the property, making it an appealing location for local workers. The Rhondda Golf Club in Pontygwaith is 2.4 miles or a 6 minute drive and the Rhondda Sports Centre is 0.9 miles, again making it an appealing location for any local workers.
INVESTMENT/IMPROVEMENTS IN TONYPANDY- Exciting 2018 for education in Rhondda Cynon Taf. An exciting year for education in Rhondda Cynon Taf, with more pupils set to benefit from 21st Century Schools in the new academic year.
The huge £85m education investment in Rhondda and Tonyrefail schools, jointly funded by the Welsh Government’s 21st Century Schools and Education Programme, will see state-of-the-art facilities delivered in Tonyrefail, Porth, Cymmer, Tonypandy, Ferndale and Treorchy.
This along with the easy commute to the school from the property makes Tonypandy a desirable place to live for families and their children. The property is 2.6 miles, an 8-minute drive from the new super school.
The education facility will become a 3-16 school on the college site of the current Tonypandy Community College from September 2018 and will be made up of the college along with four other schools: Ysgol Yr Eros, Tonypandy Primary, Penygraig Infants and Penygraig Junior School. The primary element will be a new-build, and the existing school will be remodelled. The development includes new Science, Art, ICT and Technology rooms, two Multi Use Game Areas, a 3G Sports pitch and improved site entry and exit points.
According to the school, the name Nantgwyn was chosen from a number of names in recognition of the Nantgwyn Colliery which operated on the same site more than a century ago. As part of the Naval Colliery Company, Nantgwyn was sunk in 1892 and at its peak, employed 1,300 colliers. “We are very excited about the launch of Ysgol Nantgwyn in September next year and feel the name not only honours the industrial heritage of the area but firmly establishes the school as a new education facility in the Rhondda.”
REGENERATION of Tonypandy TOWN CENTRE is a £1.5 Million project to stimulate and improve the economic regeneration of the main retail district of Tonypandy centred on Dunraven Street. Tonypandy Town Centre is set to have some major scheme improvements for the benefit of businesses and visitors including the removal of the pedestrianised area to allow through traffic. Proposals for the regeneration include Reintroduction of vehicles to the street, allowing traffic to flow one-way in a northerly direction, which will revoke the current pedestrianised zones at Dunraven Street. Raised footways to ensure a safer environment for pedestrians. Improvements to street furniture. Parking and Loading Laybys. New bus stop. Grants available to businesses to improve shop frontages. These significant works will transform the town centre landscape and encourage greater passing trade. The scheme has already begun in June 2018 and scheduled for completion during Autumn 2018. The next town over, 3.7 miles from Tonypandy is Porth, which has recently welcomed an Aldi supermarket that has created 30-40 full/part-time jobs for the community.
£1Million will be invested to improve and future-proof Rhondda Fach Sports Centre (0.9 miles from property) - focus on providing the latest fitness and indoor sports. Major refurbishment work is set to get underway at Rhondda Fach Sports Centre as part of the Council’s wider investment in leisure facilities across the County Borough. The £1Million improvements to Rhondda Fach Sports Centre, situated in Tylorstown, include:
*A new state-of-the-art gym
*The creation of a spin studio
*The remodelling of the main sports hall area with the creation of 2 new indoor 3G sports pitches- the first in the borough – replacing the existing 2 five-a-side courts
*Remodelling of changing facilities
*Creation of a new main entrance and modernised reception area
*Developing partnerships with local sports clubs to create sporting pathways
*Installation of free public access computers
This includes Bronwydd Pool which reopens to the public on Monday, April 9, with new, extended opening hours, following investment in revamped changing facilities and pool improvements.
Nearest Train Station: Llwynypia 0.4 miles - Easily accessible to walk to
Any key journey times: PRIMARY SCHOOLS - Pontrhondda Primary School 0.3 miles, Ysgol Hen Felin 0.8 miles, Llwynypia Primary School 0.8 miles
SECONDARY SCHOOL - Ysgol Nantgwyn 2.6 miles - Tonypandy's new and improved super school! The new education facility for children aged 3-16 years old.
TRAIN STATIONS - Llwynypia 0.4 miles, Ystrad 0.9 miles OR Tonypandy 1.2 miles.
TONYPANDY town centre is just 1.2 miles from the property or a 3 minute drive, offering free parking and a number of amenities useful for your day to day shop.
HOSPITAL - Ysbyty Cwm Rhondda Hospital is 0.1 miles, you could walk to the building in minutes from the property.
ASDA, Lidl are both within a 7 minutes drive from the property.
CARDIFF the capital of Wales is 18.3 miles or a 37 minute drive from the property and North to the up and coming MERTHYR TYDFIL is 18.8 miles or a 32 minutes drive away. Lots of shopping experience, entertainment, activities for he whole family can be found in these two locations and less then an hours drive away.