19 Calverton Grove, Great Barr, Birmingham

Description

A semi detached property standing back from the road behind a foregarden, with potential for extension to the rear, and with the benefit of a rear detached garage. The property benefits from double glazing and gas fired central heating, however it is in need of modernisation throughout.

Accommodation

Ground Floor: Hall, Two Reception Rooms, Kitchen. First Floor: Landing, Three Bedrooms, Bathroom/WC. Outside: Gardens and rear detached garage.

Location

Great Barr, Birmingham

Tenure / Property Information

Investment Analysis

The five same-street sold comparables range from £110,000 to £290,686. The two most recent sales were £285,000 and £290,686, while other evidence includes £225,000 and £250,000. Given the stated need for modernisation and the wide comparable range, a cautious base GDV estimate is £250,000, with a supported scenario range of £225,000 to £290,686. The £110,000 sale demonstrates downside uncertainty but is not used as the central low scenario because no condition details are supplied.

Investment Snapshot

Strategy Recommendation

Conditional refurbishment-led BTL or BRRR, subject to a full survey, contractor quotation and legal-pack review. Do not rely on the apparent guide-price margin until total costs and achievable rent are verified.

Works Required

Modernisation throughout, subject to survey and contractor pricing. Likely scope includes updating internal finishes, kitchen, bathroom, decoration and associated services as required. The rear extension is described as potential only and should not be assumed in the appraisal.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the base GDV estimate of £250,000, a 75% refinance would be approximately £187,500. However, refurbishment cost, total project cost, finance costs and other completion costs are not supplied, so cash left in and equity cannot be calculated reliably. The strategy is potentially attractive only if the modernisation budget is controlled and the legal pack reveals no material adverse costs.

Buy-to-Let Analysis

The supplied local advertised asking rent is £1,195 pcm, equivalent to £14,340 annually. Against the £69,000 guide, this indicates a gross yield of 20.78% before the £2,700 administration charge, refurbishment, finance, voids, management and other costs. The rent is an asking rent rather than achieved rent, and an all-in yield cannot be established without works and other cost evidence.

Flip Analysis

A resale appraisal is supported by same-street sales ranging from £225,000 to £290,686 within the selected scenario range. However, no refurbishment allowance, selling costs or finance costs are supplied, so a reliable flip surplus and maximum bid cannot be calculated. The guide-to-GDV spread should not be treated as profit.

Investor Risks & Due Diligence

• The property is stated to require modernisation throughout, but no works cost estimate is supplied.

• EPC rating E may require further assessment and potential improvement costs.

• The £110,000 to £290,686 same-street sale range indicates substantial valuation uncertainty.

• The £1,195 pcm figure is an advertised asking rent, not an achieved or passing rent.

• Additional costs may be listed in the special conditions and are not supplied.

• The rear extension is described only as potential and cannot be assumed without planning and construction assessment.

• The auction guide is not a confirmed purchase price.

Recommendation

Conditional refurbishment-led BTL or BRRR, subject to a full survey, contractor quotation and legal-pack review. Do not rely on the apparent guide-price margin until total costs and achievable rent are verified.

Strategy Rating

Analysis Confidence

There is useful same-street sales evidence, one local advertised rent and a stated property condition, but no quantified works budget, achieved rent, selling costs, finance costs or complete auction-cost schedule.