224 Goodman Street, Burton-on-Trent, Staffordshire

Description

Freehold two floor mid terrace house requiring modernisation. Full vacant possession.

Accommodation

First floor: three bedrooms. Ground floor: two reception rooms, kitchen, bathroom/WC. Outside: outbuildings and rear garden. Gross Internal Area GIA including outbuildings: approximately 121 sq m (1,308 sq ft).

Location

The property is situated on Goodman Street between its junctions with Thornley Street and Sydney Street. Public transport links include Burton-on-Trent mainline rail station and local bus services. Road links include the A511 and A38. Shopping amenities are available locally within Burton-on-Trent town centre, with shops, bars and restaurants in Derby to the north and Birmingham to the south. Recreational pursuits are available at Eton Park Community Park and Newton Park.

Tenure / Property Information

Investment Analysis

The five same-street freehold terraced comparables sold between £77,500 and £126,000. A base GDV of £100,000 is used, with a low scenario of £88,000 and high scenario of £126,000. The comparables do not provide condition, bedroom, size or specification details, so the valuation range is indicative only. The property requires modernisation, but the extent and cost are not evidenced.

Investment Snapshot

Strategy Recommendation

Treat as a conditional refurbishment opportunity only. Obtain the legal pack, inspect the property, confirm the modernisation budget, EPC, heating, parking and any seller fees before bidding. The evidence currently supports neither a firm maximum bid nor a fully costed flip or BRRRR case.

Works Required

Modernisation of the two-floor, three-bedroom terrace. The evidence does not specify particular defects or allow a reliable works budget. EPC, heating and parking information remain to be confirmed.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £100,000 base GDV, a 75% refinance would be approximately £75,000. Whether this releases cash depends on the unknown modernisation budget, acquisition costs and seller charges. The strategy cannot be fully underwritten from the supplied evidence.

Buy-to-Let Analysis

The advertised asking rent is £850 pcm, equivalent to £10,200 annually. Against the £60,000 guide this indicates a headline gross yield of 17.0%, but this is not a completed tenancy and excludes modernisation, finance, tax, management, maintenance, insurance and acquisition costs. A reliable yield on total cost cannot be established because the works cost and any seller fees are unknown.

Flip Analysis

The comparable sales support a broad indicative resale range of £88,000 to £126,000, with £100,000 used as the base GDV. A flip surplus cannot be calculated because no supported refurbishment cost or selling allowance is available.

Investor Risks & Due Diligence

• The extent and cost of the required modernisation are unspecified.

• The £850 pcm figure is an advertised asking rent rather than achieved or passing rent.

• EPC, heating and parking details are to be confirmed.

• The seller may charge additional completion fees under the Special Conditions of Sale.

• The comparable sale prices vary materially and do not include condition, size or specification information.

• Buyer financing, tax, management, maintenance and other ownership costs are not included in the headline yield.

Recommendation

Treat as a conditional refurbishment opportunity only. Obtain the legal pack, inspect the property, confirm the modernisation budget, EPC, heating, parking and any seller fees before bidding. The evidence currently supports neither a firm maximum bid nor a fully costed flip or BRRRR case.

Strategy Rating

Analysis Confidence

Same-street completed-sale evidence and an advertised rent are available, but the comparables lack condition and specification detail, while refurbishment costs, EPC, heating, parking, seller fees and special conditions remain unknown.