116 Whiteways Road, Sheffield

Description

A semi-detached house requiring modernisation with accommodation arranged on two floors.

Accommodation

First floor: Bedroom One, Bedroom Two, Bedroom Three, Bathroom/WC. Ground floor: Entrance Hall, Living Room, Dining Room, Kitchen.

Location

Situated in a cul-de-sac on Whiteways Road, close to local shopping and travelling facilities including Meadowhall Train Station. Further amenities can be found a short drive away in Sheffield City Centre.

Tenure / Property Information

Investment Analysis

The strongest evidence is the £167,000 May 2023 sale of a semi-detached freehold house on the same road. Older same-road sales range from £50,000 to £110,000, indicating substantial variation and limiting confidence in a current completed value. A provisional base GDV of £167,000 is used, with £110,000 as a cautious lower scenario; this is not a formal valuation and the property's modernisation requirement may reduce achievable value.

Investment Snapshot

Strategy Recommendation

Potential value-add BTL or BRRR subject to a detailed inspection, confirmed refurbishment quotation, achievable rent evidence and review of special conditions. Do not rely on the provisional GDV or asking-rent yield alone when setting a bid.

Works Required

Modernisation of the existing two-storey accommodation, including the living areas, kitchen, bathroom and general finishes. No specific defects or refurbishment costs are evidenced, so no works budget is assumed.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the guide price, 75% of the provisional £167,000 base GDV is £125,250. However, refurbishment costs, seller fees and total project cost are not supplied, so cash required, refinance surplus and true BRRR equity position cannot be established. The strategy requires full inspection and special-conditions review.

Buy-to-Let Analysis

Using the same-road advertised asking rent of £1,300 pcm, annual rent is £15,600 and gross yield on the £50,000 guide is 31.2%. The lower £950 pcm advertised evidence would produce an 22.8% guide-price gross yield. These are asking rents rather than achieved rents, and total-cost yield cannot be calculated because refurbishment costs and seller fees are unknown.

Flip Analysis

The provisional resale benchmark is £167,000, supported primarily by one same-road 2023 completed sale. A flip surplus cannot be calculated because refurbishment costs, seller fees and other project costs are unknown. The older same-road sales show considerable value variability.

Investor Risks & Due Diligence

• Unknown extent and cost of the required modernisation.

• The £167,000 GDV relies mainly on one same-road 2023 sale, while older same-road sales vary materially.

• Rental figures are advertised asking rents, not achieved rents or passing rent.

• Seller may charge additional completion fees under the special conditions.

• EPC rating E may require attention depending on future letting requirements and applicable regulations.

• 10% deposit is payable subject to a minimum £5,000 deposit, increasing the immediate cash requirement if the purchase price is below £50,000.

Recommendation

Potential value-add BTL or BRRR subject to a detailed inspection, confirmed refurbishment quotation, achievable rent evidence and review of special conditions. Do not rely on the provisional GDV or asking-rent yield alone when setting a bid.

Strategy Rating

Analysis Confidence

The property description, tenure, occupancy, guide price, one recent same-road sale and rental asking evidence are supplied, but there is no refurbishment budget, detailed condition report, confirmed achieved rent, seller-fee schedule or high-side comparable.