31 Deanwood Drive, Parkwood, Gillingham, Kent, ME8 9NH

Description

A vacant semi-detached house located in the Parkwood area of Gillingham close to local schools, shops and within easy access of Rainham mainline railway station. The property has been extended to the rear and part of the garage has been converted to provide two further bedrooms and a shower room with W.C. The property may require some repair as there are visible cracks in the rear extension. It is currently arranged as a five bedroom semi-detached house and is in need of refurbishment, with double glazed windows and a gas heating system via radiators.

Accommodation

Ground floor: entrance porch, entrance hall, reception room, living room, dining room, kitchen, two further rooms and shower room with W.C. First floor: landing, three bedrooms and bathroom with W.C. Outside: driveway to front with off-road parking, garage, and gardens to front and rear.

Location

Located in the Parkwood area of Gillingham, close to local schools and shops, with easy access to Rainham mainline railway station and good access to the M2.

Tenure / Property Information

Investment Analysis

The strongest evidence is the same-street semi-detached sale at £375,000 in March 2023, with another same-street sale at £358,750 in February 2021. Older sales are materially less relevant. The subject has a rear extension, five-bedroom arrangement and visible cracks, but the comparable properties' accommodation and condition are not provided. A cautious evidence-based GDV range is £358,750–£375,000, with a base estimate of £366,875.

Investment Snapshot

Strategy Recommendation

Proceed only conditionally, subject to a structural survey focused on the rear extension, a detailed refurbishment quotation and confirmation of all auction costs. The property may suit refurbishment-led resale or BTL, but the unknown works cost prevents a defensible maximum bid.

Works Required

Refurbishment is required, but the evidence does not quantify the scope or cost. Supported works include investigating and repairing the visible cracks to the rear extension, reviewing the extension's condition, general refurbishment of the house, and addressing the EPC E rating where practical. No specific defects beyond those described should be assumed.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

The estimated 75% refinance against the £366,875 base GDV is £275,156.25. Cash-left-in and equity cannot be calculated because no refurbishment budget or specified administration and other purchase costs are provided. The strategy depends particularly on the cost and outcome of investigating the rear-extension cracks.

Buy-to-Let Analysis

Advertised asking rents within the supplied evidence range from £1,500 to £2,000 pcm, equivalent to £18,000–£24,000 annually, but neither is an achieved rent and the properties are not confirmed as directly comparable. Against the £215,000 guide, the indicative gross yield range is approximately 8.37%–11.16% before refurbishment, finance, voids, management, maintenance and tax. A reliable net yield cannot be established.

Flip Analysis

Using the supplied comparable evidence, the base GDV is estimated at £366,875. A flip surplus cannot be calculated because refurbishment costs, administration charges, other buyer costs and selling costs are not quantified. The apparent margin to the guide is therefore not a reliable profit measure.

Investor Risks & Due Diligence

• Visible cracks in the rear extension may indicate a material structural or repair issue; the cause and cost are unknown.

• The property is described as requiring refurbishment, but no quantified works budget is available.

• The rent evidence comprises advertised asking rents rather than achieved rents and is not confirmed as directly comparable.

• An administration fee and other non-optional auction costs may apply, but no amounts are specified.

• The property is vacant and the EPC is rated E.

• The supplied comparable sales do not provide their accommodation or condition details, limiting GDV confidence.

Recommendation

Proceed only conditionally, subject to a structural survey focused on the rear extension, a detailed refurbishment quotation and confirmation of all auction costs. The property may suit refurbishment-led resale or BTL, but the unknown works cost prevents a defensible maximum bid.

Strategy Rating

Analysis Confidence

There are two relatively relevant same-street sales and two asking-rent examples, but comparable accommodation and condition, structural repair costs, achieved rent, administration fees and selling costs are not supplied.