1 Corby Road, Scunthorpe, South Humberside, DN16 1TZ

Description

Offered for sale by auction is this vacant three-bedroom semi-detached home, located in Scunthorpe. The property comprises an Entrance Hall, a Living Room, a Kitchen-Diner, and a Storeroom to the ground floor. On the first floor are three Bedrooms, and a Bathroom. Externally there is a small front garden, an enclosed rear garden, and on-street parking available close to the property. Situated in a well-established residential area, the property is conveniently placed for local amenities, transport links, plus hospitals and universities, making it an attractive prospect for both resale and rental markets.

Accommodation

Approx. 88 sq. meters of accommodation. Ground floor: Entrance Hall, Living Room, Kitchen-Diner and Storeroom. First floor: three Bedrooms and Bathroom.

Location

Situated in a well-established residential area, conveniently placed for local amenities, transport links, hospitals and universities.

Tenure / Property Information

Investment Analysis

Current GDV cannot be established from the supplied evidence. The only sold comparable is the same road but dates from 2001 at £23,000, so it is not a reliable current valuation. The £35,000 guide is not evidence of market value. Rental evidence indicates potential demand, but the asking rents and auctioneer estimate are not achieved rents.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the legal pack, confirming tenure and charges, inspecting the property, pricing the renovation and obtaining current local resale evidence. On the supplied evidence alone, do not set a bid above the guide.

Works Required

Renovation is indicated before the auctioneer's estimated rent applies, but the supplied evidence does not identify the required works or provide a cost allowance. Obtain a full inspection and refurbishment schedule before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed reliably because current GDV, refurbishment costs, tenure and finance-related costs are not supplied. The £3,600 non-refundable administration charge is known, while further special-condition charges may apply. Refinance proceeds cannot be calculated without an evidence-supported GDV.

Buy-to-Let Analysis

The supplied rental evidence ranges from £850 pcm advertised asking rent to an auctioneer estimate of £1,040 pcm once renovated. At the £35,000 guide, the indicative gross yield is approximately 29.14% to 35.66%, before refurbishment, finance, tax, insurance, maintenance, voids and auction costs. Total-cost yield cannot be established because refurbishment costs and other applicable charges are unknown.

Flip Analysis

A flip surplus cannot be calculated because no current resale valuation, refurbishment budget or supported selling-cost allowance is provided. The 2001 comparable is insufficient for a current GDV assessment.

Investor Risks & Due Diligence

• Current market value cannot be supported from the single 2001 sold comparable.

• Refurbishment scope and cost are unknown; the auctioneer rent estimate applies only once renovated.

• Tenure is stated as subject to the legal pack and has not been confirmed.

• Special Conditions of Sale may add search, legal, transfer, seller-cost reimbursement and other charges.

• Rental listings are advertised asking rents, while the £12,480 annual figure is an auctioneer estimate rather than passing rent.

• EPC, council tax and heating information are not supplied.

• On-street parking is the only stated parking provision.

Recommendation

Proceed only after reviewing the legal pack, confirming tenure and charges, inspecting the property, pricing the renovation and obtaining current local resale evidence. On the supplied evidence alone, do not set a bid above the guide.

Strategy Rating

Analysis Confidence

The property description, guide, one known administration charge and rental indications are supplied, but current GDV evidence, condition, refurbishment costs, tenure details, EPC, council tax, heating and full auction charges are missing.