20 Grove Road, Maidstone

Description

An End of Terrace House requiring modernisation.

Accommodation

Two floors comprising: First Floor – Bedroom (One), Bedroom (Two), Bedroom (Three). Ground Floor – Entrance Porch, Entrance Hall, Living Room, Kitchen/Diner, Bathroom, Separate WC, Conservatory. Front Garden and garden at rear.

Location

Situated on Grove Road, close to the amenities available in Maidstone Town Centre and travelling facilities including Maidstone West and Maidstone Barracks Train Stations. Mote Park is also nearby.

Tenure / Property Information

Investment Analysis

The supplied completed sales on Grove Road are £249,500 in 2021 and £263,000 in 2023, with older sales materially lower. As bedroom count, condition and specification of the comparables are not supplied, the base GDV is a cautious midpoint of the two recent same-road sales, with those sales used as the low and high evidence points. This is indicative only and does not quantify the discount required for modernisation.

Investment Snapshot

Strategy Recommendation

Proceed only after confirming the modernisation scope, obtaining contractor costs and researching local rental evidence. On the supplied evidence alone, no BTL, BRRR or flip bid can be underwritten confidently.

Works Required

Modernisation of the house as required, based on the auction description. The evidence does not specify individual defects, finishes, services or structural issues, so no detailed scope or cost allowance can be supported.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the indicative base GDV, 75% refinance is approximately £192,188. However, purchase price, modernisation cost and total project costs cannot be fully established. Cash left in and equity cannot therefore be calculated reliably.

Buy-to-Let Analysis

A BTL assessment cannot be completed because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. Modernisation costs and the resulting lettable condition are also unknown.

Flip Analysis

The recent same-road sales indicate a broad resale evidence range of £249,500–£263,000, with a midpoint of £256,250. A flip surplus cannot be calculated because refurbishment costs, acquisition costs beyond the stated buyer premium, selling costs and any applicable seller fees are not fully supported.

Investor Risks & Due Diligence

• The property is described as requiring modernisation, but the extent and cost of works are unknown.

• No sufficiently specific rental evidence or passing rent is available.

• The recent comparables do not include bedroom count, condition or specification, limiting the GDV assessment.

• Additional seller fees may be payable under the special conditions, but their amount is not supplied.

• Buyer premium of £1,500 inclusive of VAT applies, while other acquisition and project costs are not fully provided.

Recommendation

Proceed only after confirming the modernisation scope, obtaining contractor costs and researching local rental evidence. On the supplied evidence alone, no BTL, BRRR or flip bid can be underwritten confidently.

Strategy Rating

Analysis Confidence

There are two relatively recent same-road completed sales and clear tenure, occupancy and accommodation details, but comparable specifications, condition, rental evidence, refurbishment costs and possible seller fees are unavailable.