21 Church Street, Sapcote, Leicester

Description

A terrace cottage situated in the village centre of Sapcote. The property has been stripped back to brick with new timber beams and floor installed and is now ready to be fully finished. Originally comprising Lounge and Kitchen to the ground floor and two bedrooms and bathrooms on the first floor. Full of charm and character and will make a lovely home or investment. Outside is a shared passage to a small garden with brick W.C. We are informed that electricity, water and drainage are all connected.

Accommodation

Ground Floor: Lounge 3.47m x 2.40m with fireplace and window to front; Kitchen 3.51m x 3.06m with window to rear. First Floor: All currently open plan area 5.57m x 4.56m with potential to split into two bedrooms and bathroom. Outside: Garden to rear with shared passage. Brick outbuilding/toilet.

Location

Situated in the village centre of Sapcote.

Tenure / Property Information

Investment Analysis

The evidence supports only a broad GDV indication. Same-street terraced sales range from £146,000 to £260,000 for 2015–2022, with a further £355,000 sale and a direct historic sale of this property at £71,350 in 2017. Differences in size, condition and specification are not provided. A base GDV of £187,000 is used as an indicative scenario, with £146,000 low and £260,000 high. These are not formal valuations and current market evidence is unavailable.

Investment Snapshot

Strategy Recommendation

Potentially suitable for a refurbishment-led BTL or BRRR project, subject to a detailed inspection, measured works schedule, legal review and confirmed achievable rent. Do not bid on the headline yield alone because the property is unfinished and the works budget is unknown.

Works Required

Fully finish the stripped-back interior; complete the lounge and kitchen; form the upstairs layout into two bedrooms and a bathroom as described; finish the existing timber beams and floor; and assess the connected electricity, water and drainage before completion. The condition and specification of remaining works are not quantified.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the indicative £187,000 base GDV, 75% refinancing would be £140,250. Against the guide plus known buyer premium of £94,320, this indicates £45,930 of surplus refinance capacity before works and finance costs. However, the refurbishment cost is unknown, so the actual cash required and BRRR viability cannot be established. The 5% deposit is treated as a transaction deposit rather than an additional project cost.

Buy-to-Let Analysis

At the £90,000 guide, the supplied £900 pcm advertised asking rent equates to £10,800 per year and a headline gross yield of 12.00%. Including the known 4.8% buyer premium (£4,320), the yield is 11.46% before refurbishment, finance, insurance, maintenance, voids, tax and other costs. The rent is an advertised asking figure rather than achieved rent, and the unknown completion cost prevents a reliable net or all-in yield assessment.

Flip Analysis

A flip assessment cannot be completed reliably because no refurbishment budget, selling costs or completed specification is supplied. The indicative base GDV of £187,000 exceeds the guide plus known buyer premium of £94,320 by £92,680 before works, finance, selling costs and tax; this is not a calculable profit or surplus.

Investor Risks & Due Diligence

• The property is stripped back to brick and ready for full completion, but no works budget or detailed condition survey is supplied.

• The upstairs area is currently open plan; the stated two-bedroom and bathroom arrangement is described as potential rather than confirmed completed accommodation.

• GDV evidence is historic and varies materially, with no comparable floor areas, specifications or current valuations provided.

• The £900 pcm figure is an advertised asking rent, not an achieved or guaranteed passing rent.

• Tenure, occupancy, lease information, EPC, council tax, heating and parking details are not supplied.

• Additional fees may be listed in the Special Conditions of Sale and are not quantified.

Recommendation

Potentially suitable for a refurbishment-led BTL or BRRR project, subject to a detailed inspection, measured works schedule, legal review and confirmed achievable rent. Do not bid on the headline yield alone because the property is unfinished and the works budget is unknown.

Strategy Rating

Analysis Confidence

The description, guide, buyer premium, one advertised rent and several historic same-street sales are supplied, but there is no refurbishment quotation, EPC, tenure, legal pack, current comparable evidence, achieved rent or confirmed property specification.