23 Trinder Road, Smethwick, B67 5NU

Description

A vacant freehold semi detached property. The property is in need of modernisation and benefits from gas fired central heating and double glazing.

Accommodation

Ground Floor: Porch, Hall, Two Reception Rooms, Kitchen, Understairs Cupboard. First Floor: Landing, Three Bedrooms, Bathroom/WC. Outside: Gardens.

Location

A semi detached property, standing back from the road behind a foregarden.

Tenure / Property Information

Investment Analysis

Same-street completed sales range from £170,000 to £200,000, with the two most recent sales at £192,500 and £200,000. A base GDV of £190,000 is a cautious estimate within the evidenced range, but the subject requires modernisation and the comparable properties' condition is not supplied.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the legal pack, inspecting the property and obtaining a firm modernisation quotation. The guide appears materially below evidenced same-street sales, but the unknown works cost prevents a reliable bid or project-profit calculation.

Works Required

Modernisation is required, but no specific defects or scope are evidenced. Obtain a full inspection and contractor quotation before bidding; do not assume works beyond the stated need for modernisation.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At a £190,000 base GDV, 75% refinance is approximately £142,500. The project’s cash requirement and cash left in cannot be calculated because the refurbishment scope and cost, purchase price achieved, and any additional completion costs are unknown.

Buy-to-Let Analysis

Advertised three-bedroom rents support an indicative range of £1,150–£1,250 pcm, with a midpoint annual rent of £14,400. At the £100,000 guide, this equates to approximately 14.4% gross yield before refurbishment, finance, tax, insurance, maintenance, voids and management. Total-cost yield cannot be established because the refurbishment cost is not evidenced.

Flip Analysis

The evidenced same-street sales support a broad resale range of £177,000–£200,000 and a £190,000 base GDV. A flip surplus cannot be calculated because refurbishment costs, purchase price achieved, selling costs and additional legal-pack costs are not supplied.

Investor Risks & Due Diligence

• The property is stated to require modernisation, but no detailed condition report or works budget is supplied.

• The sales comparables do not state their condition or specification, limiting GDV precision.

• Rental evidence consists of advertised asking rents rather than achieved rents.

• The final purchase price may exceed the £100,000 guide.

• Additional costs may be stated in the legal pack and are not quantified.

• Gross yields exclude refurbishment, finance, tax, insurance, maintenance, voids and management costs.

Recommendation

Proceed only after reviewing the legal pack, inspecting the property and obtaining a firm modernisation quotation. The guide appears materially below evidenced same-street sales, but the unknown works cost prevents a reliable bid or project-profit calculation.

Strategy Rating

Analysis Confidence

Completed same-street sales and advertised rental evidence are available, but condition, refurbishment costs, achieved rent, final purchase price and potential additional auction costs are unknown.