33 Rutland Road, Chelmsford, Essex, CM1 4BL

Description

Semi-detached house of non-traditional construction requiring modernisation, improvement and repair, with two bedrooms, front and rear gardens, a garden room/cabin and gas heating via radiators.

Accommodation

Ground floor: entrance door to the side opening to reception hallway, living room and kitchen/diner. First floor: landing, two bedrooms and bathroom/W.C. Outside: front and rear gardens, an outbuilding, a cabin or garden room at the bottom of the rear garden, and a side lean-to providing storage.

Location

Situated in a cul-de-sac facing greensward within a residential area to the north of Chelmsford city centre. Local shops are available on Broomfield Road, with further high street shopping in the city centre, retail parks and supermarkets. Regular bus services serve the surrounding areas and city centre. Chelmsford mainline railway station provides access to London Liverpool Street in approximately 35 minutes.

Tenure / Property Information

Investment Analysis

Completed-sale evidence is limited and dated. No.25 Rutland Road sold for £225,000 in April 2019, while this property sold for £156,000 in December 2011 and also recorded earlier 2011 sales at £124,000 and £110,000. These sales cannot reliably establish a current GDV because of the time gap, the property's non-traditional construction and its stated need for modernisation, improvement and repair. The £180,000–£190,000 guide is therefore not independently validated by the supplied evidence.

Investment Snapshot

Strategy Recommendation

Do not proceed on the supplied evidence alone. Obtain a specialist inspection and costed refurbishment schedule, current local valuation, rental evidence and lender confirmation for the non-traditional construction before bidding.

Works Required

Modernisation, improvement and repair as required by the description, with review of the non-traditional construction, gas heating system, kitchen, bathroom, internal finishes, gardens, outbuilding, cabin/garden room and side lean-to. No specific defects or costed scope are supplied.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR appraisal cannot be established. There is no supported current GDV, refurbishment budget, market rent or quantified acquisition-cost information. Non-traditional construction may also require particular lender and valuation scrutiny, but no lender evidence is supplied.

Buy-to-Let Analysis

BTL appraisal cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. Refurbishment costs, buyer charges and other acquisition costs are also unspecified, so net returns and an appropriate bid cannot be calculated.

Flip Analysis

A flip appraisal cannot be established because there is no current supported GDV, costed works schedule or selling-cost allowance. The £225,000 April 2019 sale of nearby No.25 is useful historical context only and is not sufficient to value this property after works.

Investor Risks & Due Diligence

• Non-traditional construction may affect condition assessment, mortgageability, insurance and resale.

• The property is stated to require modernisation, improvement and repair, but no detailed survey or costed works schedule is supplied.

• No sufficiently specific rental evidence is available, preventing a supported yield assessment.

• Administration, search, other non-optional fees, Stamp Duty, Land Registry fees and VAT may be payable, but amounts are unspecified.

• The dated comparable sales do not establish a reliable current market value.

Recommendation

Do not proceed on the supplied evidence alone. Obtain a specialist inspection and costed refurbishment schedule, current local valuation, rental evidence and lender confirmation for the non-traditional construction before bidding.

Strategy Rating

Analysis Confidence

The evidence confirms tenure, vacancy, accommodation and historic transactions, but lacks current comparable sales, rent, refurbishment costs, buyer charges and a quantified resale or refinance basis.