21 Fraser Street, Bilston, West Midlands

Description

A three bedroom end of terrace house. Externally the property benefits from a rear garden. In need of modernisation. Extension potential subject to requisite consents. Vacant.

Accommodation

Ground Floor - Porch, Two Reception Rooms, Kitchen. First Floor - Three Bedrooms, Bathroom/WC.

Location

Located on the north side of Fraser Street. Bilston town centre amenities are approximately 0.2 miles away. Recreational amenities of Hickman Park and George Rose Park are easily accessible. Transport: Bilston Central - West Midlands Metro; The Crescent - West Midlands Metro.

Tenure / Property Information

Investment Analysis

Completed sales on Fraser Street range from £76,000 to £128,000, with the most recent supplied sale at £80,000 in August 2024. The subject is a vacant three-bedroom end-terrace requiring modernisation. A base GDV of £105,000 is estimated from the supplied same-street evidence, with low and high scenarios of £90,000 and £120,000. This is an estimate, not a formal valuation.

Investment Snapshot

Strategy Recommendation

Proceed only subject to a full inspection, confirmed auction charges and a firm refurbishment quotation. The guide appears close to the lower end of the supplied same-street sales evidence, but the unknown modernisation cost prevents a reliable maximum bid or confirmed flip/BRRRR margin.

Works Required

Modernisation of the house is required, but the evidence does not specify the individual defects or scope. Any works budget should therefore be established by inspection and contractor quotations. Extension potential is mentioned but remains subject to the requisite consents.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £90,000 guide, the property would require modernisation before refinancing. A 75% refinance against the estimated £105,000 base GDV would be approximately £78,750. Cash left in cannot be calculated because the refurbishment cost, buyer premium and other sale charges are unspecified. The refinance outcome is sensitive to the achievable GDV and valuation condition.

Buy-to-Let Analysis

Supplied advertised asking rents for comparable three-bedroom houses are £420–£440 pcm, implying approximately £5,040–£5,280 annual rent. Against the £90,000 guide, this indicates approximately 5.60%–5.87% gross yield before refurbishment, finance, operating costs and auction charges. Achieved rent is not evidenced, and total-cost yield cannot be established because refurbishment and buyer costs are unknown.

Flip Analysis

The supplied evidence supports a base resale/GDV estimate of £105,000, with a £90,000–£120,000 scenario range. A reliable flip surplus cannot be calculated because the modernisation cost, buyer premium, VAT position, seller charges and selling allowance are not supplied.

Investor Risks & Due Diligence

• Modernisation scope and cost are not specified.

• Buyer premium is unspecified and VAT or seller charges may apply.

• Rental evidence comprises advertised asking rents rather than achieved rents.

• GDV is estimated from a wide range of same-street completed sales and may differ from the property's condition-adjusted value.

• Any extension remains subject to the requisite consents.

• No EPC, council tax, parking or heating information is supplied.

Recommendation

Proceed only subject to a full inspection, confirmed auction charges and a firm refurbishment quotation. The guide appears close to the lower end of the supplied same-street sales evidence, but the unknown modernisation cost prevents a reliable maximum bid or confirmed flip/BRRRR margin.

Strategy Rating

Analysis Confidence

There is useful same-street sold-price and asking-rent evidence, but no EPC, inspection detail, refurbishment quotation, buyer premium, seller charges, VAT position or achieved rent evidence.