Case study · 32 Bishop Road, Liverpool
32 Bishop Road: £88,000 in, £2,000 a month out
The smallest entry price on this page, and a reminder that the headline valuation is not the only way a project pays. The uplift here is modest; the income against the money invested is not.
The numbers
| Purchase price | £88,000 | |
|---|---|---|
| Purchase costs | £5,000 | |
| Refurbishment | ~£40,000 | |
| Valuation on completion | £140,000 | has risen since |
| Gross rent | £2,000 / month | |
| Configuration | 5 bedrooms, 2 bathrooms |
Strategy: Refurbishment and conversion to a five-bedroom, two-bathroom let
What made it work
- Roughly £133,000 invested against a £140,000 valuation — a slim uplift. But £2,000 a month on that outlay is a strong gross return, and it has been paid consistently since.
- Decorated deliberately so it could be let quickly. Void time is money, and a finish that lets in a fortnight beats a better finish that lets in two months.
- Two bathrooms for five bedrooms. Compare it with the six-bed, five-bathroom project on this site valued at £250,000 — the ratio is most of the difference.
- No project is free of problems. This one had them and got through them, which is worth saying on a page of finished photographs.
The full walkthrough, in Noel’s words
Transcribed from the video and edited for readability. The video renders the purchase costs as "emergency costs"; every other case study on this site states the same £5,000 figure as purchasing costs, and it is given as such here.
This property was finished with two bathrooms and five bedrooms, and it was decorated in a way that meant it could be let quickly. It has generated £2,000 a month consistently since. It is a fantastic refurbishment and a fantastic investment.
No project is free of problems, but we managed to get this one through, and the transformation is genuinely something to see.
Upstairs there are new carpets, new floors and a new bathroom — the whole transformation done and beautifully set up, ready for tenants to move in. There is tremendous space in this property.
That is what happened with 32 Bishop Road: a tremendous investment and a tremendous income-generating asset.
The numbers are as follows. The property was bought at £88,000. Purchasing costs were about £5,000. The refurbishment was about £40,000, plus other costs for furnishing and licences. The final valuation was £140,000 — and with time that has been increasing considerably. Most importantly, it produces a monthly cashflow of £2,000.
If you want a property that does this, we source and develop them in Liverpool and the Wirral, and manage them afterwards. Or run your own numbers first on the buy-to-let calculator — free, no sign-up.