20 Carter Road, Wolverhampton, WV6 0PQ

Description

A vacant freehold mid terraced property. A mid terraced property which stands back from the road behind a foregarden. The property benefits from having gas fired central heating and double glazing; however, it is in need of modernisation works throughout.

Accommodation

Ground Floor: Hall, Two Reception Rooms, Understairs Cupboard, Kitchen, Bathroom/WC. First Floor: Landing, Two Bedrooms. Outside: Gardens.

Location

The property stands back from the road behind a foregarden.

Tenure / Property Information

Investment Analysis

Same-street completed sales range from £73,000 to £129,950. The subject is a vacant two-bedroom freehold terrace requiring modernisation throughout, but its exact internal condition and floor area are not supplied. A base GDV of £100,000 is a cautious estimate within the evidence range, with £86,250 low and £115,000 high scenarios. This is not a formal valuation.

Investment Snapshot

Strategy Recommendation

Proceed only as a cautiously priced refurbishment-led resale or hold, subject to inspection, legal-pack review and independent rental verification. Do not rely on the advertised £2,000 pcm rent or bid without a confirmed works budget.

Works Required

Modernisation throughout, with updating of finishes and fittings as required. The supplied evidence does not identify specific defects or support a detailed works schedule or cost allowance.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £85,000 guide plus the known £2,700 administration charge, the identified acquisition cost is £87,700 before refurbishment and other charges. A 75% refinance against the £100,000 base GDV would be £75,000, leaving an indicative £12,700 before refurbishment, finance, tax and other costs. Because the works budget and full legal-pack costs are unknown, the actual cash requirement cannot be established.

Buy-to-Let Analysis

The only rental evidence is an advertised asking rent of £2,000 pcm, not an achieved or passing rent. On that unverified figure, annual rent is £24,000 and the gross yield is 28.24% against the £85,000 guide, or 27.37% against the guide plus the £2,700 administration charge. These figures exclude refurbishment, tax, finance, voids and operating costs, so they should not be relied upon without rental validation.

Flip Analysis

The £100,000 base GDV is supported only as an estimate from the wide range of same-street completed sales. A flip surplus cannot be calculated because refurbishment costs, selling costs and additional purchase costs are not supplied. The £85,000 guide leaves limited apparent headroom before those unknown costs.

Investor Risks & Due Diligence

• Modernisation is required throughout, but no supported refurbishment scope or cost is available.

• The £2,000 pcm figure is an advertised asking rent rather than achieved or passing rent.

• Additional legal-pack costs are unknown; stamp duty and government taxes are excluded.

• Same-street completed prices vary materially from £73,000 to £129,950.

• Vacant possession creates a void and reletting risk until a tenant is secured.

Recommendation

Proceed only as a cautiously priced refurbishment-led resale or hold, subject to inspection, legal-pack review and independent rental verification. Do not rely on the advertised £2,000 pcm rent or bid without a confirmed works budget.

Strategy Rating

Analysis Confidence

There are several same-street completed sales and clear tenure, occupancy and guide-price evidence, but the property’s exact condition, refurbishment cost, floor area, achieved rent and full auction costs are unknown.