INVESTOR ZONE
INVESTOR ZONE
This is a 142sqm 3 bed home in Morriston in need of a full refurb, back to brick in many places. There are 2 options with this one, refurbish it as it is into a large 4 bed family home or turn it into 2 homes, 1, 90sqm 3 bed home worth £115k+ and 1, 1 bed home worth £65k+.
There isn't much like this on the market so I have down valued the end result, we should achieve far more than the projections quite easily.
https://www.zoopla.co.uk/property/19-caemawr-road/morriston/swansea/sa6-7dx/20615735
This house is 73sqm so half the size and sold in very good but not refurbished condition for £127,500.
https://www.zoopla.co.uk/property/24-vicarage-road/morriston/swansea/sa6-6dh/20610141
This property is 113sqm so getting towards the 143sqm we have and sold in poor condition for £118k showing the value we can add by buying this for a lower value.
https://www.zoopla.co.uk/property/2-margam-avenue/morriston/swansea/sa6-8dg/20618579
This 2 bed is half the size of ours and sold for £103k in refurbished condition.
https://www.zoopla.co.uk/property/29-margam-avenue/morriston/swansea/sa6-8dg/20618606
This 2 bed is also half the size and sold in good but not refurbished condition for £102k.
https://www.zoopla.co.uk/property/69-crown-street/morriston/swansea/sa6-8bd/20618208
This 3 bed sold in poor condition for £83k showing the value to be had in the area with this property.
https://www.zoopla.co.uk/property/12-banwell-street/morriston/swansea/sa6-7bn/20615473
This property on the same road sold for £98k in refurbished condition, it is 68sqm so less than half the size.
https://www.zoopla.co.uk/property/79-martin-street/morriston/swansea/sa6-7bl/20615451
This is half the size and sold for £110k in very good condition.
This will easily rent for over £750pcm due to its size and £1,100+ if split into 2 properties.
This is a 2 bed property on the edge of Swansea in a sought after area called Fforestfach. The property is small and in a poor condition as you will see from the photos.
It will make a great rental property or flip project.
There are some great comparables for the area but nothing will trump the fact that the house next door sold in March 2019 for £94k. It is only 48sqm whereas ours is 57sqm. It is very similar in terms of design and build with a similar garden except it is smaller and, although decorated nicely, not refurbished with a dated kitchen.
https://www.zoopla.co.uk/property/35-dale-close/fforestfach/swansea/sa5-4nx/20590133
There's also a 2 bed currently available for rent for £550 on the same street:
https://www.onthemarket.com/to-rent/property/sa5-4nx/?radius=0.25&view=grid
It was hard to get images due to the mess and the electric being off inside the property so this video is best.
This property requires a cosmetic refurbishment totalling £13,750
This will include an as new interior including a new kitchen and bathroom, freshly painted walls and new flooring throughout.
This property requires a major refurbishment totalling £20,550
You will see on the itemised listing in the spreadsheet above that we have allocated monies for a Japanese Knotweed Management Programme. This is the level of treatment required to make this property mortgageable.
The interior will be fresh and new, new kitchen, new bathroom, freshly painted walls and floors.
Our refurbishments are to the highest standards and oftentimes come with our unique 12 month warranty on works completed.