15 Greadier Street, Willenhall, WV12 4JW

Description

A vacant freehold semi detached property. A semi detached property, standing back from the road behind a driveway and foregarden. The property benefits from having double glazing, however it is in need of modernisation.

Accommodation

Ground Floor: Hall, Reception Room, Understairs Cupboard, Kitchen, Conservatory. First Floor: Landing, Three Bedrooms, Shower Room/WC. Outside: Driveway, Garage and Gardens.

Tenure / Property Information

Investment Analysis

Same-street freehold semi-detached sales range from £105,000 to £127,000, with the two most recent supplied sales at £105,000 in 2023 and £110,000 in 2021. A base GDV estimate of £115,000 is used, with a low/high evidence range of £105,000–£127,000. The subject requires modernisation, but the comparable properties’ condition is not supplied, so this is an indicative range rather than a formal valuation.

Investment Snapshot

Strategy Recommendation

Potential refurbishment-led BTL or BRRR, subject to inspection, a fully priced works schedule, legal-pack review and confirmation that the achieved rent supports the projected valuation. Do not rely on the headline yield or set a maximum bid until these unknown costs are resolved.

Works Required

Modernisation of the property as described by the auctioneer. The evidence does not specify which elements require work or provide a refurbishment budget, so no detailed scope or cost allowance can be supported.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £49,000 guide plus the known £2,700 administration charge, the acquisition is £51,700 before refurbishment, taxes and any further legal-pack costs. A 75% refinance against the £115,000 base GDV would be £86,250, but cash left in cannot be calculated because the refurbishment cost and complete project cost are unknown. The strategy is therefore highly dependent on a verified works budget and lender valuation.

Buy-to-Let Analysis

Advertised three-bedroom rents supplied range from £950 to £1,350 pcm for relevant local evidence, implying indicative gross yields of approximately 23.27%–33.06% against the £49,000 guide price. These are asking rents rather than achieved rents, and the supplied £347 pcm listing creates additional rental-data uncertainty. A net yield cannot be established because refurbishment, finance, tax, insurance, maintenance and other costs are unavailable.

Flip Analysis

The supplied same-street sales support an indicative resale range of £105,000–£127,000 and a £115,000 base GDV. A flip surplus cannot be calculated because refurbishment costs, selling costs and other project costs are not supplied. The property’s need for modernisation also means the comparable condition is material but unknown.

Investor Risks & Due Diligence

• The property is stated to need modernisation, but the scope and cost of works are not provided.

• The £2,700 administration charge is payable in addition to the purchase price, with further legal-pack costs potentially payable.

• Additional buyer costs, stamp duty and government taxes are excluded from the supplied fee information.

• Rental evidence is advertised asking rent rather than achieved rent and ranges widely, including a supplied £347 pcm listing.

• The condition of the sold comparables is not supplied, limiting confidence in the GDV estimate.

• Heating details are not supplied.

• Vacant possession is stated, but no inspection or structural/building survey evidence is provided.

Recommendation

Potential refurbishment-led BTL or BRRR, subject to inspection, a fully priced works schedule, legal-pack review and confirmation that the achieved rent supports the projected valuation. Do not rely on the headline yield or set a maximum bid until these unknown costs are resolved.

Strategy Rating

Analysis Confidence

The evidence includes same-street completed sales, a guide price, a known administration fee and several advertised rents, but refurbishment costs, comparable condition, achieved rent, further fees and selling costs are unavailable.