Property Address: Pembroke Dock, Pembrokeshire, SA72

Property Description: This is a mid terrace two bedroom terrace property located centrally to Pembroke Dock, set over two floors, the layout of the property briefly comprises: (Ground floor) Entrance, Hallway, Sitting room, Dining room, Kitchen, and Family bathroom to the rear. There are 3 good sized bedrooms spread across the second floor and a hallway leading to the family bathroom.

At rear of the property is a enclosed walled garden with lawn and a storage shed.

Once fully refurbished, it would be ideally suited for a growing family and or provide a property investor a good return from the identified and fully costed exit strategies.

The property is within walking distance of all the amenities of Pembroke Dock, including shops, schools, banks, Doctor and Dental surgeries, leisure centre and a golf course.

Pembroke Dock is positioned centrally within the county of Pembrokeshire and is about 10 miles distant from the county town of Haverfordwest. The Port of Pembroke, is located on the edge of the Milford Haven waterway, with its historic Royal Dockyard, and is now the site of the Irish Ferries terminal to Rosslare, Ireland.

The lovely countryside of the Pembrokeshire Coast National Park is accessible via the coastal path, and there are many beautiful beaches within driving distance.

Services: We are advised that Mains Gas, Electricity and Drainage are connected. And Gas fired Hot water system.

Externally: To the rear of the property is an enclosed lawn garden with a storage shed.

Number of Bedrooms (current): 2

Is there potential to add a bedroom?: Yes

Reception Rooms: 2

Bathrooms/shower-rooms: 1

Property Asking Price: £82,500

Agreed Sale Price: £75,000

Fair Market Value (DUV): Up to £150,000 (but have used £135,000 for source pack information and estimated costings).

Comparable 1: 81 Gwyther Street, SA72 6HE. £142,000. 14/02/20. https://www.rightmove.co.uk/property-for-sale/property-73265686.html

Comparable 2: 3 Norgens Terrace, SA71 4EU. £148,000. 13/12/19. https://www.zoopla.co.uk/property/3-norgans-terrace/pembroke/sa71-4eu/20826967

Comparable 3: 9 Orielton Terrace, SA72 6TN. £142,000. 02/12/19. https://www.zoopla.co.uk/property/9-orielton-terrace/llanreath/pembroke-dock/sa72-6tn/20834993

Market Status: on the market

Why is the property being sold?: Sale identified by sourcer (open market)

Is the property in a lettable condition: No

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:

Areas that form part of refurbishments/ budget required? Budget: Up to £30,000*

A houses to home loan (H2H) scheme could help fund part-fund the development by applying for up to £25,000.

2 x Bedrooms: flooring, walls & ceiling. And, split front bedroom into TWO.
2 x Reception rooms
Front door
Relocate family bathroom area upstairs
Enlarge Kitchen
Combination boiler & radiators
Add ensuite to rear bedroom
Re-wire property.
Repair damaged windows
Kerb appeal
Rendering
Garden, jet wash paving stabs and tidy walls.
Storage shed.

(*) Pembrokeshire County Council offers an H2H (houses to homes) loan scheme for refurbishment projects. Subject to terms and conditions.

Estimated Refurbishment Costs: £30,000

Flip Figures –

Purchase Price: £75,000

Refurb Costs: £30,000

Entry Legal Costs: £1,200

Exit Legal Costs: £1,000

Stamp Duty: £2,250

Survey Costs: £450

Broker Fee: £400

SMP Consultation Fee: £3,997

Estimated 6 months bills costs: £750

Estate Agent Selling Fees: £2,104.58

Total Costs for an investor: £114,504.03

Re-sale price (DUV): £135,000

Estimated Flip Profit: £17,391.39

BTL Figures:

Purchase Price: £75,000

Refurb Costs: £30,000

Legal Costs: £1,000

Stamp Duty: £2,250

Survey: £450

Broker Fee: £400

SMP Consultation Fee’s: £3,997

Estimated Rental Income: £675

New Mortgage: £295.31

Stress Test Mortgage: £421.88

Estate Agent Rates: £67.50

MOE: £67.50

Cash Flow Most Likely: £244.69

Cash Flow Stress Test: £118.13

Area Description: Property and location.

* Pembroke Dock was originally called Paterchurch with a population of over 9,000 (census 2011) and third largest town in the County of Pembrokeshire, after Haverfordwest and Milford Haven.

* Local Primary School within 10 walk from property and local secondary school, within 15 minutes (drive).

* Fire station, Police station, Hospital nearby.

* Pembroke Castle – birth place of King Henry VII.

* Retail stores: Cooperative, Tesco, Asda, Wilko, Lidl, Aldi stores – within 15 minutes (drive) from property.

* National Express Bus route, within 15 minutes (drive) from property. Ferry Port provides links with Ireland and beyond. Train station Pembroke Dock station, within walking distance of Market street.

* Beautiful white sandy beaches within 15 minute (drive) from property at locals like Broadhaven (south), Castlemartin, Freshwater (East) & (West) that have been featured in Hollywood films like Harry Potter,
Robin Hood etc.

* Rich Naval, Military and Royal Air Forces, history e.g. Carew Cheriton Control Tower.

* Norman Castles ruins in the area like Carew and Manorbier Castles. Also, see Picton Castle.

* Shops and places to eat and socialise with friends and family.

* Family adventure parks like Folly Farm, Anna Zoo, Heatherton world of activities, Oakwood, Blue Lagoon water and holiday park etc.

* Ironman Wales Tenby, Saundersfoot etc.

Nearest Train Station: Pembroke Dock

Any key journey times: Swansea via A477 and M4 is about 59.6 miles and one hour, 20 minutes by car.

Cardiff is 98.6 miles distance and about two hours travel time by car.