16 Cobham Close, Stenson Fields, Derby

Description

A four bedroom detached house benefiting from off street parking and a garage. In need of modernisation. Vacant.

Accommodation

4 bedrooms; floor area approximately 1,150 sq. ft.

Location

Cobham Close is an established residential area on the southern side of Derby, with local shops, schools and everyday amenities close by. Sinfin District Centre provides a range of facilities, while the location offers convenient connections towards Derby city centre and the wider road network, including the A50 and A38. Regular bus services also serve the wider area. Transport: Peartree Station 1.9 miles; Willington Station 3.0 miles; Derby Station 3.1 miles.

Tenure / Property Information

Investment Analysis

The two most recent same-street detached freehold sales were £300,000 in January 2023 and £318,000 in December 2022. These provide an evidence-supported historical range, with an indicative midpoint of £309,000, but no current-date adjustment, condition comparison or formal valuation is available. The property is described as needing modernisation, while the comparables' condition is unknown. The £275,000 guide is below those historic sales, but the apparent discount cannot be quantified without refurbishment costs and current market evidence.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence alone. Obtain a full survey, itemised modernisation quotations, current valuation evidence and letting evidence before deciding between resale and hold. The guide appears below the historic same-street sales, but the margin is not demonstrably sufficient.

Works Required

Modernisation of the vacant four-bedroom detached house, with the exact scope and cost to be established by survey and contractor quotations. The evidence does not identify specific defects or required works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A potential BRRR route exists because the property is vacant, freehold and has historic same-street sales supporting an indicative £309,000 GDV. However, the purchase-to-refurbishment cost cannot be calculated because works and fees are unavailable. At 75% of the indicative GDV, refinance proceeds would be approximately £231,750, but cash left in cannot be calculated.

Buy-to-Let Analysis

BTL returns cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. Modernisation costs, operating costs and finance costs are also unknown. A letting assessment should be completed only after obtaining a supported local rent estimate and refurbishment budget.

Flip Analysis

The indicative resale range is £300,000–£318,000 based on the two most recent supplied same-street sales, with a £309,000 midpoint. A flip surplus cannot be calculated because refurbishment costs, buying costs and selling costs are not supplied. Comparable condition is also unknown.

Investor Risks & Due Diligence

• The property is stated to need modernisation, but the extent and cost of works are unknown.

• The supplied comparable sales completed in 2022 and 2023 and may not represent current market value.

• Comparable property condition, size and specification are not provided.

• No sufficiently specific rental evidence is available, preventing yield analysis.

• Buyer, administration and other auction costs are not supplied.

• The property is vacant, so no passing rent or existing tenancy income is evidenced.

Recommendation

Do not bid on the current evidence alone. Obtain a full survey, itemised modernisation quotations, current valuation evidence and letting evidence before deciding between resale and hold. The guide appears below the historic same-street sales, but the margin is not demonstrably sufficient.

Strategy Rating

Analysis Confidence

The property description, tenure, occupancy and two recent same-street sales are supplied, but the sales are dated, comparable condition is unknown, and there is no refurbishment budget, rental evidence, fee schedule or current valuation.