33 Maytree Avenue, Hull, East Riding of Yorkshire

Description

The property retains original features including quarry tiled floors and fireplaces. It is in poor condition and will benefit from refurbishment and modernisation. There is a large, detached garage / workshop to the rear with additional parking space, accessed via the service road off Holly Grove. Garden Village was built in the early 1900s for the workers of Reckitt & Sons. Its design was influenced by the ideas of the Garden City movement, houses were built at a density of 12 per acre with streets named after trees and shrubs.

Accommodation

Ground Floor: Entrance hall with staircase, sitting room, lounge, kitchen / breakfast room, dining room, utility room, cloakroom / wc. First Floor: Landing, main bedroom with en-suite shower room, 2 further bedrooms, bathroom. Outside: Established gardens to the front and rear. Garage / workshop and parking bay to the rear.

Location

Garden Village was built in the early 1900s for the workers of Reckitt & Sons. Its design was influenced by the ideas of the Garden City movement, with houses built at a density of 12 per acre and streets named after trees and shrubs.

Tenure / Property Information

Investment Analysis

Same-street semi-detached completed sales range from £173,000 to £262,500. The subject is described as being in poor condition and requiring refurbishment, but the comparables' condition, size and specification are not supplied. A cautious evidence-based GDV range is £186,000–£250,000, with £212,500 used as the base scenario. The £125,000 guide is subject to a buyer premium of at least £3,600 including VAT; works costs and any additional special-condition fees are not provided.

Investment Snapshot

Strategy Recommendation

Proceed only subject to inspection, a detailed refurbishment specification and contractor quotations. The opportunity may suit a refurbishment-led resale or rental strategy, but neither can be confirmed at the guide without project costs.

Works Required

Refurbishment and modernisation of the house in line with its stated poor condition. The works scope, specifications and costs require inspection and contractor pricing. Original quarry tiled floors and fireplaces may be retained where practical.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £125,000 guide, the known minimum buyer premium is £3,600, before refurbishment and other possible fees. Applying 75% to the base GDV gives an indicative refinance value of £159,375, but total project cost, finance costs and cash required cannot be calculated without a refurbishment budget and fee information.

Buy-to-Let Analysis

Advertised three-bedroom rents range from £725 to £1,050 pcm, implying gross rent of £8,700–£12,600 per year and a gross yield on the £125,000 guide of approximately 6.96%–10.08%. These are asking rents rather than achieved rents. Net yield cannot be established because refurbishment, finance, operating and compliance costs are unavailable.

Flip Analysis

The base GDV estimate is £212,500, supported by same-street completed sales. A flip surplus cannot be calculated because refurbishment costs, finance costs, holding costs and selling costs are not supplied. The poor stated condition means the purchase price alone is not sufficient to assess viability.

Investor Risks & Due Diligence

• The property is described as being in poor condition and requires refurbishment.

• No refurbishment budget or detailed condition survey is supplied.

• Rental evidence comprises advertised asking rents rather than achieved rents.

• Comparable sale prices vary materially and comparable condition, size and specification are not provided.

• Buyer premium is subject to a £3,600 minimum, with possible additional special-condition fees.

• Tenure, EPC, council tax, heating and occupancy information are not supplied.

Recommendation

Proceed only subject to inspection, a detailed refurbishment specification and contractor quotations. The opportunity may suit a refurbishment-led resale or rental strategy, but neither can be confirmed at the guide without project costs.

Strategy Rating

Analysis Confidence

There are five same-street completed sales and four rental asking-rent examples, but the subject's tenure, condition detail, floor area, EPC, costs and comparable property specifications are incomplete.