244 Appleton Avenue, Great Barr, Birmingham, B43 5QD

Description

A vacant freehold semi detached property. The property stands back from the road behind a foregarden and is in need of modernisation works throughout.

Accommodation

Ground Floor: Porch, Hall, Two Reception Rooms, Kitchen, Rear Extension (incomplete). First Floor: Landing, Three Bedrooms, Bathroom/WC. Outside: Gardens and Rear Garage.

Location

Great Barr, Birmingham

Tenure / Property Information

Investment Analysis

Five HM Land Registry comparables on the same road range from £185,000 to £273,000. The three most recent sales range from £230,000 to £245,000 and average approximately £237,333. A base GDV of £237,000 is therefore used, with a conservative evidence-based range of £230,000 to £245,000. The property requires modernisation throughout and has an incomplete rear extension, so the actual achievable value depends on the completed works and specification.

Investment Snapshot

Strategy Recommendation

Potential refurbishment-led resale or refinance opportunity, but only proceed after confirming the legal pack, extension position and a fully costed inspection-based works schedule. Do not rely on the headline yield or set a maximum bid until works and all purchase costs are quantified.

Works Required

Modernisation throughout, together with completion of the incomplete rear extension. The evidence does not specify the internal scope, specification, statutory approvals or construction requirements, so no reliable works cost can be established.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £237,000 base GDV, 75% refinance is approximately £177,750. The potential refinance position appears attractive relative to the guide price, but cash left in cannot be calculated because the refurbishment cost, further auction costs, taxes and finance costs are unsupported. Legal-pack review and a full inspection are essential, particularly because the rear extension is incomplete.

Buy-to-Let Analysis

Advertised asking rents for comparable three-bedroom properties are £1,250–£1,400 pcm, giving an indicative gross yield of 18.99%–21.27% on the £79,000 guide price, before refurbishment, finance, tax, maintenance, voids and management costs. The rent evidence is asking rent only and does not establish achieved rent. A reliable yield on total project cost cannot be calculated until works costs and other purchase costs are known.

Flip Analysis

The recent same-road comparables support a base resale value of approximately £237,000, with an evidence-based recent-comparable range of £230,000–£245,000. A flip surplus cannot be calculated because no supported refurbishment allowance or selling-cost allowance is available. The incomplete extension and required modernisation create material cost and programme uncertainty.

Investor Risks & Due Diligence

• The property is described as needing modernisation throughout, but the works scope and cost are not provided.

• The rear extension is incomplete; its planning, building-regulation and construction status are not evidenced.

• Additional costs may be payable under the special conditions and are not supplied.

• Stamp duty and government taxes are excluded from the stated auction charges.

• Rental figures are advertised asking rents rather than achieved passing rents.

• Comparable sale prices vary materially, from £185,000 to £273,000.

Recommendation

Potential refurbishment-led resale or refinance opportunity, but only proceed after confirming the legal pack, extension position and a fully costed inspection-based works schedule. Do not rely on the headline yield or set a maximum bid until works and all purchase costs are quantified.

Strategy Rating

Analysis Confidence

The analysis has multiple recent same-road completed sales and rental asking evidence, but lacks a quantified refurbishment scope, completed extension details, achieved rent, selling costs, finance costs and full auction charges.