Beautiful Cottage to refurb and have money out in 3 years in Merthyr Tydfil

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sold out

Beautiful Cottage to refurb and have money out in 3 years in Merthyr Tydfil

299.00

Reserve this investment opportunity for £299

Figures in Brief:
Sale Agreed at: £52,500
Estimated Done Up Value: £90,000
1st exit: Flip Potential Profit: £11,752
2nd exit: Cash Flow (BTL): £223.13

Property Description:  This is a beautiful 2 bedroom, semi-detached cottage in Troedyrhiw, Merthyr Tydfil WITH HISTORY MYSTERY!! The property is in general good condition, but it needs updating and modernising to be a desirable accommodation in the area. There are other serviced accommodation properties in the area, but some could benefit from a makeover, refurbishment and better facilities.

You enter the property into the kitchen which is a great size for a small family or couple, there are two doorways, one will lead into the lounge/diner and double doors leading you out on the patio. There is technically no garden, but you can access the patio from the french doors, the house connected to this property owns the garden and right of way. It is possible that this cottage was the old accommodation for servants that would have worked for whom ever lived in the house next door. The other doorway will lead you into the bathroom area, there is a large unused space to the right that would be perfect to store bikes for your serviced accommodation option, the fridge/freezer, washing machine etc. The boiler is currently in this room in a cupboard and the bathroom is to the left.
In the kitchen are the stairs that lead you up to the two bedrooms, one bedroom is big enough for a double bed and the second bedroom would fit a single bed as it is a strange shape due to the roof (see photos).

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Property Information:


Property Address: Troedyrhiw, Merthyr Tydfil, CF48 4HE

Number of Bedrooms (current):  2

Is there potential to add a bedroom?: NO

Reception Rooms: 1

Bathrooms/shower-rooms: 1

Property Asking Price: £59,995

Agreed Sale Price: £52,500

Fair Market Value (DUV): £90,000

Comparable 1: 9 Carlton Terrace, Troedyrhiw, Merthyr Tydfil, CF48 4EP - SOLD £98,000 - 29 April 019 - Terraced - Good condition - https://www.rightmove.co.uk/house-prices/detailMatching.html?prop=67412185&sale=9645883&country=england

Comparable 2: 17 Poplar Street, Troedyrhiw, Merthyr Tydfil, CF48 4EF - SOLD £97,500 - 17 April 2019 - Terraced - Good condition - https://www.rightmove.co.uk/house-prices/detailMatching.html?prop=73256753&sale=9645880&country=england

Comparable 3: 14 Harriet Town, Troedyrhiw, Merthyr Tydfil CF48 4HJ - SOLD £90,000 - 18 January 2019 - Terraced - Great condition - https://www.rightmove.co.uk/house-prices/detailMatching.html?prop=49556454&sale=6090877&country=england

If no comparables, please state why there are no direct comparables: MORE SOLD
* 23 Carlton Terrace, Troedyrhiw, Merthyr Tydfil, CF48 4EP - £118,000 - 23 November 2018 - Terraced - Great condition - https://www.rightmove.co.uk/house-prices/detailMatching.html?prop=48045339&sale=8598202&country=england
* 86 Yew Street, Troedyrhiw, Merthyr Tydfil, CF48 4EE - £90,000 - 23 November 2019 - Terraced
* 31 Yew Street, Troedyrhiw, Merthyr Tydfil, CF48 4EB - £119,500 - 10 September 2018 - Terraced - Excellent condition - https://www.rightmove.co.uk/house-prices/detailMatching.html?prop=65850484&sale=7979338&country=england

SOLD IN DATED CONDITION
* 2 Poplar Place, Troedyrhiw, Merthyr Tydfil, CF48 4EG - £60,000 - 3 August 2018 - 2 bedroom - https://www.rightmove.co.uk/house-prices/detailMatching.html?prop=59747362&sale=7687720&country=england
* 13 Plantation Square, Troedyrhiw, Merthyr Tydfil, CF48 4HQ - £65,000 - 28 September 2018 - 2 bedroom - https://www.rightmove.co.uk/house-prices/detailMatching.html?prop=66336796&sale=7979341&country=england
* 14 Carlton Terrace, Troedyrhiw, Merthyr Tydfil, CF48 4EP - £60,000 - 11 July 2018 - terraced - https://www.rightmove.co.uk/house-prices/detailMatching.html?prop=44671472&sale=7390156&country=england

FOR SALE / STC
* Harrietstown, Troedyrhiw - £85,000 - 1 bed cottage - Good condition - https://www.rightmove.co.uk/property-for-sale/property-84677858.html
* South View, Troedyrhiw - £119,995 - 3 bedroom terraced - Excellent condition - https://www.rightmove.co.uk/property-for-sale/property-64317432.html
* Church Street, Troedcyrhiw - £57,995 - 2 bedroom - Dated Condition - https://www.rightmove.co.uk/property-for-sale/property-77725826.html
* Cardiff Road, Troedyrhiw - £62,500 - 2 bedroom - Dated Condition - https://www.rightmove.co.uk/property-for-sale/property-82316789.html


 

Market Status: Sale Secured by Sourcing Agent

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: First-time buyers


 

Refurbishments Required

Estimated Refurbishment Costs: £16,000

Rip out existing
Full rewire
New boiler - property has central heating system radiators seem fine
New kitchen
New bathroom
Paint and Decorate throughout
Flooring is pretty good condition - Carpets replace in Lounge and option to add carpets in bedrooms
Treat and paint internal doors (original cottage style)

SMP can project manage the build for 10% +VAT of the refurb amount

The local council in this area are offering a 0% loan of up to £25,000 for properties that have been empty for at least 6 months to bring them back into a liveable condition.
The SMP Sourcing Agent can provide the information needed to apply for this.


Flip Figures (Buy, Renovate, Sell)

Purchase Price: £52,500
Refurb costs: £16,000 
Entry legal costs: £1200
Exit legal costs: £1000
Stamp Duty: £1575

Survey: £450
Broker Fee: £400

SMP Consultation Fee: £2997

Estate Agent selling fees: £1231

RESALE PRICE: £90,000

Potential Profit: £11,752


BTL Figures (Buy to let)

Purchase Price: £52,500
Refurb costs: £16,000
Legal costs: £1200
Stamp Duty: £1575

Survey: £ 450
Broker Fee: £400
SMP Consultation Fee: £2997
Rental Income: £525
New Mortgage (3.5%): £196.88

Estate Agent Rate (10%): £52.50
Management & operating Expenses (10%): £52.50

CASH FLOW: £223.13

Money left in deal £8516

Money out in 3.2 years  31% ROI on Money left in deal

The option of Serviced Accommodation should produce per night figures for 2 persons is £30+ per night

 

Disclaimer : Perform your own Due Diligence. The ROI above is not a guaranteed return and is an indication of the potential based on achieving the relevant figures in all aspect of the purchase, refurbishment and refinance/resale. All figures will be subject to the buyers status and market fluctuations.


 

Area Description: 

Merthyr Tydfil, (3.2 miles) known to be a tourist hotspot all year round with one of three national parks in Wales an hour from the property... The Brecon Beacons. The Brecon Beacons are one of four ranges of mountains and hills in South Wales which make up the Brecon Beacons National Park. The National Park was established in 1957, the third of the three Welsh parks after Snowdonia in 1951 and the Pembrokeshire Coast National Park in 1952. Merthyr Tydfil is a town with a population of approximately 63,546, at one time the largest town in Wales, today it's the country’s fourth largest urban area of population. Situated in the historic county of Glamorgan. Administered by Merthyr Tydfil County Borough Council. The National Cycle Route 8 passes through the town and Bikepark Wales is the UK's first purpose-built mountain biking centre, is located at Gethin Woods, Merthyr Tydfil (2.6 miles)
The Brecon Mountain Railway is easily accessible by cycle and car, it is a 1 ft 11 3⁄4 in (603 mm) narrow gauge tourist railway on the south side of the Brecon Beacons. The railway's starting point at Pant is located two miles (3 km) north of the town centre of Merthyr Tydfil. One of the benefits of the line, and a condition of the planning permission, is that tourists can access and experience part of the Brecon Beacons National Park without driving their cars through it.

LOCAL DEVELOPMENT - Exciting times ahead for Merthyr Tydfil !!

Plans to build the longest ski slope in the UK has taken a step closer with a public launch of the plans. The Rhydycar West site, in Merthyr Tydfil , would also be home to a National Centre of Excellence for the Great Britain snow sports team for Olympic athletes - as well as an indoor water park, ziplines, a spa hotel, and an equestrian centre. Check the link to watch a short demo video and read about their plans that was in the news and social media back in August 2018
https://www.walesonline.co.uk/business/business-news/new-plans-unveiled-massive-ski-15095387

To find out more about the company and what will be offered in what looks to be the near future
http://rhydycarwest.com/en/the-scheme/

Nearest Train Station: Troedyrhiw - 0.2 miles (4 minute walk)

Any key journey times: A large Tesco Extra 2.9 miles away, ALDI 2.5 miles, ASDA 4.9 miles, Lidl 5 miles and Merthyr Tydfil train station is 3.2 miles away or less than a 5 minute walk to the train station Troed-y-Rhiw.
Cyfarthfa Retail Park 5 miles from the property, a large mall just off the A470 perfect for any shopping occasion with great parking facilities, multiple outlets including Next Home, River Island, New Look, Debhanams, M&S, TK Maxx, Argos, B&Q and a few more.
The Vertigo Trampoline park 3.7 miles immerse yourself in the bounce experience that is Vertigo Trampoline Park! Vertigo is the largest trampoline park in Wales offering over 40,000 square feet of free bounce and endless activities to keep children and adults satisfied for hours on end.
Merthyr Tydfil Leisure Village 2.9 miles - is the perfect place to socialise in the area with a number of amenities and entertainment opportunities for the whole family including a VUE Cinema, Costa Coffee, Arcade, Superbowl, Laser Quest, a Leisure Centre including a Swimming pool and a number of restaurants including Nandos, Frankie and Bennys, Harvester, McDonalds, Chinese, Subway, Firefly pub and restaurant and a Travelodge hotel.
Trago Mills 5.2 miles - known as 'The South West's Original Discounted Retailer' - BRAND NEW to Merthyr in Spring 2018 after years of planning and an 18 month build, we opened our £65 million store on Saturday 21st April. We were blessed with glorious Welsh sunshine for pretty much the whole day and we welcomed 12,000 people through the doors. With competitive prices, this means that locals have great variety and option when shopping in the town.


 

The fine Print
SMP operates in trust with its potential investors. SMP is registered with the Property Ombudsman Group. SMP prides itself on delivering BMV deals with accuracy and confidence. The sourcing fee for this deal is £2997(inc VAT) which is paid on completion of the sale. A £299 deposit is required to secure the deal which is refundable if the investor decides not to proceed to an agreed sale with the vendor, ie after viewing. The deposit is not refundable if the investor pulls out of the purchase after sale agreed. 

SMP takes no responsibility if deals “fall through” for matters out of our control. It is always highlighted that property investment carries an element of risk and ultimately a deal may not be successful. There for deal owners are advised to carry out their own due diligence to confirm for themselves the findings SMP present. SMP has no control of the UK property market prices and investments can be lost or profit margins shortened with the fluctuating market