21 Woodgreen Road, Leicester

Description

A three bedroom town house in a quiet yet convenient location in a popular area of Leicester. The house requires a general scheme of modernisation but will make a superb family home or excellent buy to let investment. Well placed for amenities including shops, schooling and transport links.

Accommodation

Hallway, Lounge/Diner, Kitchen, Landing, Three Bedrooms, Bathroom. Gardens to front and rear.

Location

Quiet yet convenient location in a popular area of Leicester, well placed for shops, schooling and transport links.

Investment Analysis

The five supplied completed sales on Woodgreen Road range from £215,000 to £255,000, with an average of £236,400. They are recorded as three-bedroom terraced/freehold sales, whereas the subject is described as a three-bedroom town house and its tenure is unconfirmed. A cautious evidence-based GDV range is £215,000–£255,000, with £235,000 used as the base scenario. The £175,000 guide is below the supplied comparable range, but the required modernisation, unknown tenure and any special-condition costs prevent a reliable maximum bid calculation.

Investment Snapshot

Strategy Recommendation

Proceed only subject to confirming freehold/lease position, legal special conditions and obtaining a detailed modernisation quotation. The guide appears below the supplied local sales evidence, but the missing works and rent data make a firm BTL, BRRR or flip bid unavailable.

Works Required

General modernisation as described by the auction particulars. The evidence does not specify individual defects, scope or costs, so no quantified works allowance is applied.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £175,000 guide, the purchase price is below the supplied completed-sale range, and 75% of the £235,000 base GDV is £176,250. However, refurbishment costs, tenure, finance costs and any additional special-condition fees are unknown, so cash required and refinance surplus cannot be established. BRRR should remain conditional on legal, valuation and works-cost due diligence.

Buy-to-Let Analysis

The property is described as suitable for buy to let, but no Leicester rental evidence or auctioneer rent estimate is supplied. The only advertised rent is £1,900 pcm for a property in Thame, so it is not sufficiently relevant to establish this property's rent or yield. BTL viability therefore cannot be quantified from the supplied evidence.

Flip Analysis

The supplied completed sales support a base resale scenario of £235,000, with evidence ranging from £215,000 to £255,000. A flip surplus cannot be calculated because the modernisation cost, acquisition-related costs beyond the stated absence of a buyer fee, selling costs and any special-condition fees are not supplied.

Investor Risks & Due Diligence

• The subject's tenure and lease information are not supplied.

• The general modernisation requirement has no defined scope or cost.

• The supplied rental evidence is for Thame rather than Leicester and is only an advertised asking rent.

• Additional fees may be listed in the Special Conditions of Sale.

• The comparable sales are recorded as terraced/freehold, while the subject is described as a town house and its tenure is unconfirmed.

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

Recommendation

Proceed only subject to confirming freehold/lease position, legal special conditions and obtaining a detailed modernisation quotation. The guide appears below the supplied local sales evidence, but the missing works and rent data make a firm BTL, BRRR or flip bid unavailable.

Strategy Rating

Analysis Confidence

There are five recent same-road completed sales, but the subject's tenure, condition scope, rental evidence, EPC and several cost items are missing. The rent evidence is from a different location and cannot reliably support a yield estimate.