17 Charnwood Street, Derby, DE1 2GU

Description

A substantial three-storey detached eight bedroom HMO of approximately 2,186 sq ft, presented in reasonable decorative order. It benefits from a rear garden and is well located for the local and recreational amenities of Derby. Currently producing £19,650 per annum, plus vacant possession of five rooms.

Accommodation

Ground Floor - Three bedrooms, three en-suites, kitchen, W.C. First Floor - Four bedrooms, three en-suites, kitchen, shower room, W.C. Second Floor - Bedroom, en-suite, storage.

Location

The property is located on Charnwood Street, accessed off Normanton Road. Local amenities can be found on Normanton Road, Burton Road and in Derby City Centre. Recreational amenities of Markeaton Park, Bass Recreation Ground and Sinfin Moor Park are easily accessible. Transport: Derby - National Rail.

Tenure / Property Information

Investment Analysis

The £300,000 guide equates to approximately £137 per sq ft based on the stated 2,186 sq ft area, but no formal valuation evidence or directly comparable eight-bedroom HMO sales is supplied. The sold comparables on Charnwood Street range from £100,000 to £255,000, cover 2012–2023, and include differing property types, so they do not support a reliable GDV estimate for this HMO. The current income is £19,650 per annum, with five rooms vacant, but no room rents or external rental comparables are provided.

Investment Snapshot

Strategy Recommendation

Treat as an income-led HMO/BTL opportunity only after verifying the five-room occupancy potential, HMO compliance, actual room rents and all auction costs. Do not bid on a BRRR or flip basis without independent valuation and cost evidence.

Works Required

No specific refurbishment defects or works are evidenced; the property is described as being in reasonable decorative order. Allowance may be required for inspection, HMO compliance checks and preparation of the five vacant rooms, but costs cannot be quantified from the supplied evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed reliably because no supported GDV, refurbishment budget, refinance terms or stabilised rent are available. The existing income provides some evidence of operating demand, but the five vacant rooms and absent rental comparables create significant uncertainty.

Buy-to-Let Analysis

At the £300,000 guide, the documented £19,650 annual income produces a gross yield of approximately 6.55%. This is based only on the existing income and excludes any contribution from the five vacant rooms. A full stabilised HMO yield cannot be established because room rents, operating costs, compliance status and buyer costs are not supplied.

Flip Analysis

A flip appraisal is unsupported. There is no reliable HMO GDV, refurbishment cost, selling-cost allowance or evidence that the guide represents sufficient margin. The supplied nearby sales are not sufficiently comparable to calculate a resale surplus.

Investor Risks & Due Diligence

• Five rooms are vacant, and no achievable rents are provided for them.

• No sufficiently specific external rental comparable is supplied.

• The supplied sold comparables vary materially in property type, date and price, limiting valuation reliability.

• HMO licensing, planning and regulatory compliance information is not supplied.

• EPC, council tax, parking, heating and auction fee information is not supplied.

• Actual refurbishment, room-preparation and ongoing operating costs are unknown.

Recommendation

Treat as an income-led HMO/BTL opportunity only after verifying the five-room occupancy potential, HMO compliance, actual room rents and all auction costs. Do not bid on a BRRR or flip basis without independent valuation and cost evidence.

Strategy Rating

Analysis Confidence

The property description, tenure, area and existing income are supplied, but there are no specific rental comparables, HMO compliance details, refurbishment costs, buyer fees, operating costs or directly comparable sales.