16 Newcome Road, Portsmouth, Hampshire, PO1 5DU

Description

A Vacant Five Room Mid Terrace House in Need of Modernisation. Potential to Convert into an HMO (Subject to Obtaining all Relevant Consents). The property comprises a five room mid terrace house arranged over ground and first floors. There is potential for the property to be converted into an HMO (subject to obtaining all relevant consents).

Accommodation

Ground Floor: Two Rooms, Bathroom, Kitchen. First Floor: Three Rooms.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Kingston Park are within easy reach. Transport links are provided by Fratton rail station.

Tenure / Property Information

Investment Analysis

Five same-road terraced freehold sales range from £166,000 to £227,000, averaging £198,400. A base GDV of £195,000 is used, but the comparables lack size, bedroom and condition detail and the subject requires modernisation.

Investment Snapshot

Strategy Recommendation

Proceed only as a conditional value-add purchase after survey, legal review and confirmation of refurbishment costs. Do not rely on HMO potential or bid solely from the guide price.

Works Required

Modernisation of the existing five-room accommodation is required. The evidence does not quantify the work scope or cost; survey and legal review are essential. HMO conversion would require all relevant consents.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At a £195,000 base GDV, 75% refinancing indicates £146,250. However, refurbishment costs, disbursements and total project cost are unsupported, so cash released and equity cannot be calculated reliably.

Buy-to-Let Analysis

The only rental evidence is a £1,400 pcm advertised asking rent for a three-bed terraced house elsewhere in Portsmouth. This implies £16,800 annual rent and 16.8% gross yield against the £100,000 guide, before refurbishment, fees, finance and management. Net yield cannot be established.

Flip Analysis

The guide price provides a substantial apparent gap to the £166,000–£227,000 comparable range, but the property requires modernisation and no refurbishment or selling-cost allowance is supplied. Flip surplus cannot be reliably calculated.

Investor Risks & Due Diligence

• Modernisation scope and cost are unknown.

• HMO conversion is only potential and requires all relevant consents.

• The £1,400 pcm rent is an advertised asking rent from another Portsmouth road, not achieved or property-specific.

• Comparable sale prices vary materially from £166,000 to £227,000 and lack detailed specification and condition information.

• Additional legal-pack disbursements may be payable and are not quantified.

Recommendation

Proceed only as a conditional value-add purchase after survey, legal review and confirmation of refurbishment costs. Do not rely on HMO potential or bid solely from the guide price.

Strategy Rating

Analysis Confidence

Same-road sold evidence and one rental advert are available, but condition, property specifications, refurbishment costs, disbursements and HMO consent position are incomplete.