Property Description: 

Property Investment Opportunity: Neath, SA11 1PF

This property presents a solid Buy To Let investment in a prime location. Situated just a short walk from Neath town center, it offers an attractive proposition for investors looking for stable income-generating assets. Neath is a vibrant town with a rich history and a strong community feel. The property is conveniently located near essential amenities, including shops, restaurants, and recreational facilities. Its proximity to schools makes it an ideal choice for families, while professionals will appreciate the easy access to transport links, including bus and train services.

The property can be easily renovated to achieve a market value of £120,000 to £130,000. With a rental income potential of £800 to £900 per month, this investment can yield a strong return. The area has demonstrated stable property values, making it a sound choice for long-term investment.

Neath has a consistent demand for rental properties, driven by a mix of professionals, families, and even tenants on income support. The local rental market is buoyed by the town's accessibility to major employment centers and educational institutions.

Recent sales in the area provide a strong justification for the end value of this property. Similar properties have sold successfully, reinforcing the potential for a solid return on investment.

Neath is undergoing various regeneration schemes aimed at enhancing local infrastructure and amenities. These improvements are expected to boost property values and rental demand even further, making now a great time to invest.In summary, this is a promising investment opportunity in a thriving area. With its attractive rental yield and potential for appreciation, it stands out as a solid addition to any property portfolio.

Number of Bedrooms (current): 2

Is there potential to add a bedroom?: No

Reception Rooms: 1

Bathrooms/shower-rooms: 1

Property Asking Price: 75000

Agreed Sale Price: £61000

Fair Market Value (DUV): £120,000 to £130,000

Comparable 1: Sold £128,000: https://www.rightmove.co.uk/house-prices/details/ddc1e3ae-21fa-4ea6-ad00-93bde603489b

Comparable 2: Sold £160,000: https://www.rightmove.co.uk/house-prices/details/3969fa56-1851-4748-9be6-f950a27e1bcb

Comparable 3: Sold £110,000: https://www.rightmove.co.uk/house-prices/details/2ab05661-b4e6-4745-bac3-f102532715aa

Comparable 4: Sold £115,000: https://www.rightmove.co.uk/house-prices/details/b5525cb8-cb75-410d-a469-f4776af955fc

Comparable 5: Sold £117,000: https://www.rightmove.co.uk/house-prices/details/24c332fe-d342-464c-ab1a-963b5dfe9638

Comparable 6: Sold STC £126,999: https://www.rightmove.co.uk/properties/160381640#/?channel=RES_BUY

Comparable 7: Sold STC £120,000: https://www.rightmove.co.uk/properties/156448007#/?channel=RES_BUY

Comparable 8: Sold SCT £125,000: https://www.rightmove.co.uk/properties/161925737#/?channel=RES_BUY

Market Status: Sale Secured by Sourcing Agent

Why is the property being sold?: Distressed Seller

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?: Unknown

Exit Strategy 1: BTL

Exit Strategy 2: Cash Purchase Flip (or bridge)

Exit Strategy 3: Capital Growth

Potential Target Demographic: Families and young professionals or social housing.

Refurbishments Required: Total Budget: £35,000 
Duration: 8 Weeks

Week 1: Preparation and Demolition

Day 1-2: Rip out existing fixtures, fittings, and materials, including old kitchen and bathroom.
Day 3-4: Waste removal from the property; ensure proper disposal of debris.
Day 5: Inspection of existing electrical wiring and plumbing systems.

Week 2: Electrical and Plumbing Works

Day 6-7: Rewire the property, ensuring all electrical systems meet safety standards.
Day 8-10: Service the boiler and issue the necessary certification. Check all plumbing for issues.

Week 3: Structural and Preparation Works

Day 11-12: Complete plumbing installation for the new kitchen and bathroom.
Day 13-14: Install boarding for walls and ceilings; prepare surfaces for plastering.

Week 4: Plastering and Woodwork

Day 15-17: Plastering of walls and ceilings for a smooth finish.
Day 18-20: Woodwork and trimming installation, including skirting boards and architraves.

Week 5: Kitchen and Bathroom Installations

Day 21-23: Supply and fit new kitchen units, countertops, and appliances.
Day 24-26: Supply and fit new bathroom fixtures, including tub, sink, and toilet.

Week 6: Roofing and Windows

Day 27-28: Install a new flat roof over the kitchen, ensuring proper insulation and waterproofing.
Days 29-30: Replace windows and doors to enhance energy efficiency and security.

Week 7: Finishing Touches

Day 31-33: Painting and decorating throughout the property, focusing on walls, ceilings, and woodwork.
Day 34: Final inspections to ensure all work meets quality standards.

Week 8: Flooring and Final Cleanup

Day 35-36: Install new carpets and flooring in all living spaces.
Day 37-40: Final cleanup of the property, ensuring it is ready for tenants or buyers.

Estimated Refurbishment Costs: £35,000 plus £3,500 for project management

Flip Figures:

Purchase Price: £61,000

Refurb Costs: £38,500

Entry Legal Costs: £1400

Exit Legal Costs: £1000

Stamp Duty: £3050

Survey Costs: £450

Tiger Burrows Consultation Fee: £1997

Estimated 6 months bills costs: £750

Estate Agent Selling Fees: £1872

Total Costs for investor: £109,019

Re-sale price (DUV): £120,000

Estimated Flip Profit: £10,981

BTL Figures:

Purchase Price: £61,000

Refurb Costs: £38,500

Legal Costs: £1400

Stamp Duty: £3050

Survey: £450

Tiger Burrows Consultation Fee's: £1997

Estimated Rental Income: £850

New Mortgage: £375

Stress Test Mortgage: £405

Estate Agent Rates: £85

MOE: £85

Cash Flow Most Likely: £305

Cash Flow Stress Test: £230