109 Devon Road, Wednesbury, WS10 0RT

Description

A vacant freehold semi detached property

Accommodation

Ground Floor: Hall, Through Reception Room with Dining Area, Kitchen, Understairs Cupboard, Utility Room, Rear Lobby/ Store Room, WC. First Floor: Landing, Two Bedrooms, Bathroom/ WC. Outside: Driveway and Gardens.

Location

A semi detached property standing back from the road behind a driveway and foregarden

Tenure / Property Information

Investment Analysis

The five supplied same-road sold comparables range from £138,000 to £215,000. The median is £177,000, used as the base GDV. The evidence does not provide floor areas, condition or specification, so the full comparable range is used for low/high scenarios rather than making a finer adjustment.

Investment Snapshot

Strategy Recommendation

Potential BTL or BRRR opportunity at the low guide, subject to confirming condition, achievable rent, legal-pack costs and financeability. Do not set a maximum bid without a survey and quantified works budget.

Works Required

No specific defects or refurbishment requirements are evidenced. Obtain a full survey and legal review before bidding, with particular attention to the vacant property, EPC E rating, heating, kitchen, bathroom, roof, structure and general condition. No works allowance can be reliably quantified from the supplied evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £177,000 base GDV, 75% of GDV is £132,750. However, refurbishment costs, finance costs, taxes and other acquisition costs are not fully evidenced, so total project cost and cash left in cannot be calculated reliably. The strategy is highly dependent on survey findings, achievable rent and lender valuation.

Buy-to-Let Analysis

At the £39,000 guide, the single supplied advertised asking rent of £950 pcm implies annual gross rent of £11,400 and a gross yield of approximately 29.2% before the £2,700 administration charge, works, finance, voids, maintenance, tax and other costs. This is asking-rent evidence rather than achieved rent, and no rent range or operating-cost evidence is supplied.

Flip Analysis

The supplied sold comparables support a broad £138,000–£215,000 value range, with £177,000 used as the base GDV. A flip surplus cannot be calculated because refurbishment costs, selling costs, finance costs and all additional auction costs are unsupported. The £2,700 administration charge is known and payable, but does not make the overall project cost complete.

Investor Risks & Due Diligence

• The property is vacant and no detailed condition evidence is supplied.

• The EPC is rated E, and the cost of any improvements is unknown.

• The £2,700 administration charge is payable in addition to the purchase price.

• Additional legal-pack costs and other completion charges are unknown.

• The rental evidence is one advertised asking rent rather than an achieved passing rent.

• The comparable sales vary materially from £138,000 to £215,000, and property size and condition are not supplied.

• Finance, tax, maintenance, voids and selling costs are not evidenced and may materially affect returns.

Recommendation

Potential BTL or BRRR opportunity at the low guide, subject to confirming condition, achievable rent, legal-pack costs and financeability. Do not set a maximum bid without a survey and quantified works budget.

Strategy Rating

Analysis Confidence

There is useful same-road sales evidence, but no condition survey, floor area, detailed legal-pack costs, refurbishment budget, achieved rental evidence or finance assumptions. The rent is based on one advertised asking listing only.