129 Rosary Road, Erdington, Birmingham, B23 7RD

Description

A mid terraced property, standing back from the road behind a foregarden. The property benefits from having a gas fired central heating system and double glazing, however it is in need of modernisation.

Accommodation

Ground Floor: Two Reception Rooms, Kitchen, Bathroom (no fittings). First Floor: Landing, Three Bedrooms. Outside: Gardens.

Location

Standing back from the road behind a foregarden.

Tenure / Property Information

Investment Analysis

Five same-road freehold terraced sales completed between November 2025 and May 2026 range from £133,000 to £185,000, with a simple average of £157,800 and median of £160,000. The subject requires modernisation and has a bathroom with no fittings, while the comparable condition is not supplied. A base GDV of £160,000 is therefore used, with £150,000 low and £185,000 high scenarios based on the observed comparable range. These are indicative estimates, not formal valuations.

Investment Snapshot

Strategy Recommendation

Potential refurbishment-led BTL or BRRR subject to inspection, legal-pack review and firm refurbishment quotations. Do not rely on the headline yield until the bathroom and wider modernisation costs are verified.

Works Required

Modernisation is required. The bathroom requires fitting out because no fittings are present. Further works, costs and specification cannot be established from the supplied evidence and require inspection and quotations.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the base £160,000 GDV, a 75% refinance is £120,000. However, total project cost and cash left in cannot be calculated because no refurbishment budget or additional completion costs are supplied. The strategy depends on achieving the assumed GDV and obtaining reliable refurbishment quotations.

Buy-to-Let Analysis

At the £50,000 guide, the advertised £900 pcm rent implies annual gross rent of £10,800 and a gross yield of 21.6% before refurbishment, finance, tax, insurance, maintenance, voids and management. The rent is one advertised asking rent rather than achieved rent, and the property requires modernisation. Yield on total cost cannot be established without a supported works allowance and other acquisition costs.

Flip Analysis

The comparable evidence supports an indicative GDV range of £150,000 to £185,000, with a £160,000 base case. A flip surplus cannot be calculated because refurbishment costs, selling costs and full acquisition costs are not supported by the evidence.

Investor Risks & Due Diligence

• The property is described as requiring modernisation, but the scope and cost of works are unknown.

• The bathroom has no fittings, with no supplied budget for completion.

• The £900 pcm figure is an advertised asking rent, not an achieved or passing rent.

• Comparable property condition and specification are not supplied, creating uncertainty around the GDV range.

• Additional legal-pack costs, taxes and completion costs are unknown.

• The guide price is not a guaranteed purchase price.

Recommendation

Potential refurbishment-led BTL or BRRR subject to inspection, legal-pack review and firm refurbishment quotations. Do not rely on the headline yield until the bathroom and wider modernisation costs are verified.

Strategy Rating

Analysis Confidence

Same-road completed-sale evidence and an advertised rental are available, but comparable condition, refurbishment costs, achieved rent, selling costs and additional auction costs are not supplied.