146 Green Lane Road, Leicester, Leicestershire

Description

A two-bedroom mid-terrace house in this sought-after location. In need of modernisation but benefitting from double glazing and gas central heating, the property is being sold with a long-term tenant in situ.

Accommodation

Ground Floor: Lounge 3.71m x 3.52m, Sitting Room 3.67m x 3.52m, Kitchen 2.84m x 1.81m. First floor: Bedroom 1 4.03m x 3.75m, Bedroom 2 3.80m x 3.06m, Bathroom 2.84m x 2.36m. Outside: A larger-than-average rear garden with scope to extend subject to planning.

Location

This sought-after location.

Tenure / Property Information

Investment Analysis

Same-road sold evidence comprises £150,000 and £185,000 sales in 2019, with older sales from £113,000 to £120,000. An illustrative GDV range of £150,000–£185,000 is used, but evidence is dated and the subject requires modernisation and has a tenant in situ.

Investment Snapshot

Strategy Recommendation

Proceed cautiously only after reviewing the legal pack, tenancy documentation and obtaining a refurbishment assessment. Do not rely on the guide price for a BTL or BRRRR decision.

Works Required

Modernisation as required. The supplied evidence does not quantify the works or identify specific defects, so no reliable refurbishment allowance can be calculated.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the illustrative base GDV, 75% refinance is £125,625. This is £13,175 below the £137,000 guide plus the known £1,800 admin charge, before works and other fees. The strategy is not demonstrably viable without verified rent, costs and legal-pack information.

Buy-to-Let Analysis

The property is tenanted, but no passing rent or sufficiently specific rental evidence is supplied. Rental yield and affordability therefore cannot be established. Tenancy terms and rent require verification.

Flip Analysis

The dated same-road sales support an illustrative base GDV of £167,500, but refurbishment costs, selling costs and other purchase fees are unknown. A reliable flip surplus cannot therefore be calculated.

Investor Risks & Due Diligence

• Long-term tenant in situ; rent, tenancy terms and possession position are not supplied.

• Property is stated to need modernisation, but the scope and cost are unknown.

• Sold comparables are dated, mainly from 2019 or earlier.

• Buyer and legal-pack costs beyond the £1,800 admin charge are unknown.

• Garden extension potential is subject to planning and is not relied upon in the valuation.

Recommendation

Proceed cautiously only after reviewing the legal pack, tenancy documentation and obtaining a refurbishment assessment. Do not rely on the guide price for a BTL or BRRRR decision.

Strategy Rating

Analysis Confidence

Some same-road sold evidence and basic property details are supplied, but sales are dated and rent, condition costs, tenancy terms and several fees are unavailable.