Latest Valuation
£85,000
ROCE
%
Selling Agent
Sourced Warrington

Hands-Free – Conversion Buy-to-Let Opportunity in Warrington

The house will be finished to a high standard to create a modern family home with 3 bedrooms and a newly fitted kitchen and bathroom.
Guide Price
£80,995

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Key Features

  • Hands-free investment
  • Value add property
  • High demand area
  • Great local amenities
  • Shortage of rental stock

The Property

Sourced are excited to present this buy-to-let conversion opportunity with an option of adding value by adding an extra bedroom located in Warrington. This mid-terrace property currently comprises 2 reception rooms and a kitchen on the ground floor and 2 bedrooms plus a family bathroom on the first floor.

The property will undergo a full refurbishment overseen by our highly experienced in-house project manager. The house will be finished to a high standard to create a modern family home with 3 bedrooms and a newly fitted kitchen and bathroom.

Planning Information

N/A

The Plan

A great BTL opportunity with option of adding value by way of creating an extra bedroom.

Popular location for BTL properties with low rental stock currently on the market.

To convert the bathroom into a 3rd bedroom and create a new bathroom between bed 1 and 2nd bedroom and it is let out with a local agent with a rental income of £650-£700 pcm.

The Financials:

Purchase price: £80,995
Current value: £85,000
GDV: £110,000
Refurb cost: £15,000
Sourcing fee: £3,950
Rental income: £7,800 pa
Profit: £5,500
Total cash investment: £104,500

The Location

The property is close to amenities and has great transport links.
0.5 mile to Tesco Extra.
Yards to co-op on Forster street.
There are also numerous parks and schools with a mile of the house.

Average estimated value for a house in WA2 7AX

£154,931

Properties in WA2 had an overall average price of £154,931 over the last year.

The majority of sales in WA2 during the last year were semi-detached properties, selling for an average price of £156,732. Terraced properties sold for an average of £108,525, with detached properties fetching £300,295.

Overall, sold prices in WA2 over the last year were 2% up on the previous year and 11% up on the 2017 peak of £140,196.

Recent sold comps 3 bed within 0.5mile:

- https://www.rightmove.co.uk/property-for-sale/property-72524448.html - £105,000
- https://www.rightmove.co.uk/property-for-sale/property-89939270.html. - £110,000
- https://www.rightmove.co.uk/property-for-sale/property-95936339.html. - £115,000

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