31 Ashford Drive, NOTTINGHAM, Nottinghamshire

Description

A two bedroom detached bungalow located in the highly desirable location of Ravenshead. The property has been well maintained by the current owner but there is still scope to increase the value and for a buyer to add their own stamp on the property. The accommodation is spacious and the property sits on a good-sized plot with a garden and driveway to the front, with a garden to the rear, mainly laid to lawn and with a patio area. Offered for sale with the benefit of vacant possession.

Accommodation

Ground Floor: entrance hall, lounge, dining room, kitchen/breakfast, two bedrooms and a shower room. External: a lawned garden to the front of the property and a driveway to the front which extends to the side of the property. A garden to the rear, mainly laid to lawn and with a patio area.

Location

Ravenshead is a village located approximately 10 miles North of Nottingham city centre and 5 miles from the centre of Mansfield. The village has schools, restaurants/pubs, convenience stores and a farm shop. Newstead Abbey is a short distance from the village. There are bus routes servicing Nottingham and the local area.

Tenure / Property Information

Investment Analysis

The supplied same-road detached comparables range from £240,000 to £485,000. The evidence does not provide their bedroom counts, bungalow status or condition, so the £485,000 sale is not directly comparable. The £240,000 and £270,000 sales provide the most relevant lower-to-mid-market evidence for a cautious indicative base GDV of £270,000, with a broad evidence-supported scenario range of £240,000 to £325,000. This remains uncertain because the subject's exact condition and specification are not fully evidenced.

Investment Snapshot

Strategy Recommendation

Treat as a cautious owner-occupier or long-term BTL opportunity only if inspection confirms minimal works and bidding remains materially controlled. Do not pursue a flip or BRRR strategy at the guide without better condition, cost and valuation evidence.

Works Required

No specific defects or required works are identified. The property is described as well maintained, with scope for a buyer to add their own stamp. Any cosmetic updating or value-enhancing works require inspection and costing; no reliable works allowance can be quantified from the evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the indicative £270,000 base GDV, 75% refinancing equates to £202,500. This is below the £250,000 guide before the known £1,800 documentation fee, unquantified works and any other costs, so a full capital recycle is not supported at the guide price. The strategy would require a materially lower purchase price, stronger valuation evidence or both.

Buy-to-Let Analysis

The supplied advertised asking rent is £925 pcm, producing £11,100 annual gross rent. Against the £250,000 guide, this indicates a 4.44% gross yield before finance, management, maintenance, voids, tax and acquisition costs. The £1,800 buyer contract documentation fee and any seller-charged special-condition fees would reduce the effective return. BTL may be viable for a long-term owner, but the net yield cannot be established from the supplied evidence.

Flip Analysis

A potential resale value is indicated by the broad £240,000-£325,000 same-road evidence range, with £270,000 used as the cautious base GDV. A reliable flip surplus cannot be calculated because refurbishment costs, selling costs and any seller-charged completion fees are not supplied. At the £250,000 guide, the margin appears limited before these costs.

Investor Risks & Due Diligence

• Comparable sales do not include bedroom counts, bungalow status or condition, limiting valuation confidence.

• The £925 pcm figure is an advertised asking rent rather than achieved or passing rent.

• EPC and heating information are unavailable.

• Refurbishment requirements and costs are not quantified.

• The £1,800 documentation fee is known, while seller-charged special-condition fees may also apply.

• At the £250,000 guide, 75% of the base GDV is below the purchase price before costs.

Recommendation

Treat as a cautious owner-occupier or long-term BTL opportunity only if inspection confirms minimal works and bidding remains materially controlled. Do not pursue a flip or BRRR strategy at the guide without better condition, cost and valuation evidence.

Strategy Rating

Analysis Confidence

There are several same-road completed sales and one advertised rental listing, but comparable property details, EPC, heating, exact condition, refurbishment costs, seller fees and full acquisition costs are unavailable.