34 Harefield Road, Sheffield, South Yorkshire S11 8NU

Description

Description A large three bedroom / two reception room bay windowed Victorian terrace villa well located on Harefield Road just off Ecclesall Road. The property has gas central heating and double glazing and has latterly been occupied as a 4 room student HMO which was producing approx.

of £19,229 per annum and is Article 4 compliant, although the property has just become vacant following the end of the academic year. The accommodation comprises a bay windowed lounge, separate dining room and kitchen on the ground floor.

To the first floor are two bedrooms a bathroom whilst to the second floor is a further large bedroom which could actually be split to provide two good size bedrooms. Outside thee is a rear yard with brick built outbuildings.

The property would suit both buy to let investors looking to re-let as student accommodation, owner occupiers looking to convert back to a large well positioned single dwelling to occupy or developers looking for a refurbish and resale opportunity in a much sought after area..

Accommodation Ground Floor Lounge (latterly used as HMO room 4), Dining Room, Kitchen, First Floor Bedroom One, Bedroom Two, Bathroom, W.C, Second Floor Bedroom Three, Basement Cellar Outside Rear yard with brick built stores Tenure Leasehold

Investment Analysis

Investment Snapshot

Underwriting basis. This is an indicative desktop appraisal. GDV is an estimated post-works/open-market value, not a guaranteed valuation. Comparable research is widened from the same street/postcode to the surrounding market up to approximately five miles where necessary.

Market Comparables

• 48 Harefield Road – terrace – sold Sep 2023 £210,000

• 34 Harefield Road – subject – sold Aug 2019 £198,000

• 42 Harefield Road – 6-bed semi – sold May 2024 £327,820 (larger; upper reference only)

HB estimated GDV: £207,000 low / £225,000 base / £243,000 high. The range reflects comparable quality, condition and the fact that auction stock can trade below normal owner-occupier market value.

Proposed Works

The allowance follows the auction description/visible condition and investor-standard refurbishment scope. It is not a structural survey or contractor quotation.

Rental Value

Working market rent is approximately £1,602 pcm (£19,229 pa). For scenario testing, use roughly £1,474 / £1,602 / £1,731 pcm for low/base/high cases. This is an indicative market-rent estimate and should be read alongside any passing tenancy stated by the auctioneer.

Low / Base / High Investment Scenario

Buy-to-Let

Base rent £1,602 pcm gives 10.1% gross yield on guide and 9.5% on guide plus midpoint works. These are gross yields before voids, repairs, management, insurance and finance.

BRRR Analysis

Guide £190,000 + midpoint works £13,250 + auction fee allowance £3,420 + legal/valuation £1,500 + indicative six-month bridge/arrangement cost £8,645 + holding allowance £1,500 gives a pre-SDLT all-in cost of approximately £218,315. At base GDV £225,000, a 75% refinance is £168,750, leaving approximately £49,565 capital in before SDLT. Low/high refinance outcomes are £155,250 / £182,250.

Flip Analysis

Using base GDV £225,000, pre-SDLT all-in cost £218,315 and selling/legal allowance £3,995, indicative pre-tax/pre-SDLT flip surplus is £2,690. That is approximately 1.2% profit on cost and 1.2% of GDV. A 5% sale-price reduction and 15% works overrun should be stress-tested before bidding.

Maximum Bid Indicator

For an indicative 15% pre-tax profit-on-cost target before SDLT, the desktop purchase ceiling is approximately £168,731. This is a screening figure, not a formal valuation or bidding recommendation.

Strategy Rating

Buy-to-Let: ★★★★☆ | BRRR: ★★★★☆ | Flip: ★★★☆☆

Key Risks

Confirm legal title/tenure, occupancy, planning/licensing, service charge/ground rent where relevant, structural condition, utilities, abnormal works and finance terms. Market comparables are indicative and should be refreshed immediately before bidding.