21 Hiles Avenue, Winterton, Scunthorpe, South Humberside, DN15 9XY

Description

For sale by auction is this vacant three-bedroom end-terrace house, in need of improvement.

Accommodation

Entrance Porch, Living Room, Kitchen and Hallway to the ground floor. On the first floor are 3 Bedrooms, a Bathroom and a WC.

Location

The property is situated in a cul-de-sac off Teanby Drive, close to the amenities available in Winterton Town Centre.

Tenure / Property Information

Investment Analysis

The strongest evidence is the same property selling for £61,000 on 8 July 2025. A nearby same-street terraced property sold for £80,000 on 29 November 2024. Older 2022 sales at £95,000–£100,000 are less reliable for current value and may reflect different condition or market circumstances. A supported HB value range is therefore £61,000–£80,000, with £61,000 as the base case. The property is described as needing improvement, but no specific defects or refurbishment scope are supplied.

Investment Snapshot

Strategy Recommendation

Proceed only subject to inspection, legal review and a confirmed refurbishment budget. The indicative rent suggests potential BTL appeal, but the evidence is insufficient to set a safe maximum bid or confirm profit.

Works Required

Inspect and complete the improvement works required to bring the vacant house to lettable or resale standard. The evidence does not identify specific defects, so a reliable works budget cannot be established.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £61,000 base GDV, a 75% refinance is approximately £45,750. This does not establish a viable BRRR outcome because refurbishment costs, total acquisition costs and finance costs are unavailable. The £3,600 administration charge is known, while searches, legal, transfer and other disbursements may also apply.

Buy-to-Let Analysis

The auctioneer estimates £900 pcm (£10,800 annually) once renovated. Against the £39,000–£59,000 guide range, this indicates approximately 27.7% to 18.3% gross yield before refurbishment, finance, tax, insurance, maintenance, voids and other costs. Using the guide midpoint of £49,000 gives approximately 22.0%. The yield cannot be assessed on total cost because the refurbishment requirement and several auction costs are unknown. The rent is an estimate rather than achieved or independently evidenced rent.

Flip Analysis

The latest same-property completed sale supports a £61,000 base resale value, while the same-street evidence supports an upside scenario up to £80,000. A flip surplus cannot be calculated because the refurbishment budget, full acquisition costs and selling allowance are not supplied.

Investor Risks & Due Diligence

• The property is vacant and described as needing improvement, but the scope and cost of works are unknown.

• The £900 pcm figure is an auctioneer estimate once renovated, not a passing or independently evidenced rent.

• Additional search, legal, transfer, seller-cost reimbursement and disbursement charges may apply.

• The latest same-property sale was £61,000, leaving limited proven value headroom above the guide if works are substantial.

• On-street parking is the only parking provision identified.

Recommendation

Proceed only subject to inspection, legal review and a confirmed refurbishment budget. The indicative rent suggests potential BTL appeal, but the evidence is insufficient to set a safe maximum bid or confirm profit.

Strategy Rating

Analysis Confidence

There is strong same-property sold evidence and a supplied rent estimate, but no specific condition schedule, refurbishment cost, independent rental comparable, full auction cost schedule or confirmed purchase price.