23 Corby Road, Weldon, Corby, NN17 3HS

Description

A Double Fronted Semi-Detached House requiring modernisation with accommodation arranged on Three Floors.

Accommodation

Top Floor: Two Loft Rooms. First Floor: Three Rooms; Bathroom/WC. Ground Floor: Entrance Hall; Two Reception Rooms; Kitchen/Diner. Front Garden. Garden at Rear.

Location

Situated on Corby Road, close to the amenities available in Corby Town Centre and travelling facilities including Corby Train Station.

Tenure / Property Information

Investment Analysis

The supplied evidence supports a broad indicative value range of £285,000–£340,000 based on two same-road, same-type freehold semi-detached sales. The latest comparable, 19 Corby Road, sold for £285,000 on 27 September 2024 and is the most relevant reference. The £340,000 sale at 29 Corby Road dates from 2021 and may be less representative of current value. No floor area, bedroom count, detailed condition report or refurbishment budget is provided, so the GDV estimate remains provisional.

Investment Snapshot

Strategy Recommendation

Do not commit at auction without a full inspection, measured survey, refurbishment quotation, resale appraisal and rental assessment. The apparent value gap against the £100,000 guide is substantial, but the missing works and cost evidence prevents a reliable maximum bid or strategy selection.

Works Required

Modernisation of the existing three-floor accommodation, including assessment and updating of the kitchen/diner, bathroom/WC, reception rooms, loft rooms, internal finishes and external gardens. The evidence does not identify specific defects or provide a works budget.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A provisional base GDV of £285,000 implies 75% refinance proceeds of £213,750. However, refurbishment cost, finance costs, total acquisition cost and achievable rent are not supplied, so cash required, equity creation and refinance viability cannot be calculated reliably.

Buy-to-Let Analysis

BTL appraisal cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. The property is vacant and requires modernisation, so letting condition and achievable rent also remain unconfirmed.

Flip Analysis

The comparable evidence indicates a provisional resale value around £285,000, with a wider evidenced range up to £340,000. A flip surplus cannot be calculated because refurbishment costs, selling costs and the final purchase price are unknown. The £1,500 buyer fee is known, while any seller completion fees are unspecified.

Investor Risks & Due Diligence

• The property requires modernisation, but no detailed condition report or refurbishment budget is supplied.

• The accommodation and bedroom count are not clearly confirmed, limiting comparison with sold evidence and resale appraisal.

• No sufficiently specific rental evidence is available, preventing a reliable BTL yield assessment.

• The higher £340,000 comparable is from 2021 and may not reflect current market conditions.

• Additional seller fees may be payable under the special conditions but are not quantified.

• Vacant possession means there is no passing rent or established tenancy income.

Recommendation

Do not commit at auction without a full inspection, measured survey, refurbishment quotation, resale appraisal and rental assessment. The apparent value gap against the £100,000 guide is substantial, but the missing works and cost evidence prevents a reliable maximum bid or strategy selection.

Strategy Rating

Analysis Confidence

There are relevant same-road completed sales and a known buyer fee, but bedroom count, floor area, detailed condition, refurbishment cost, rent, parking, heating and seller fees are not provided.