34, Manor Road, DERBY, Derbyshire, DE22 3HZ

Description

A three-bedroom home well situated in a popular location close to the Royal Derby Hospital, commuter routes and bus services into the city centre and Mickleover, both with shopping and leisure amenities. The property is set back from the main road with wide front and rear gardens and has been in the same family for many years. Now requiring some updating to today’s modern standards, providing a great opportunity for the homeowner or landlord alike. Offered with the benefit of vacant possession.

Accommodation

Ground Floor: Porch entrance hall, lounge, kitchen/diner, wet room/w.c. First Floor: Landing, three bedrooms. External: Front and rear garden.

Location

Located close to the Royal Derby Hospital, commuter routes and bus services into the city centre and Mickleover, both with shopping and leisure amenities.

Tenure / Property Information

Investment Analysis

Same-road Land Registry comparables range from £150,000 to £210,000. The two most recent supplied sales were £200,000 in July 2024 and £210,000 in July 2023. Older sales ranged from £138,000 to £160,000. Given the property requires updating and its 77 sq.m area, a supported scenario range is £160,000–£210,000, with £200,000 used as the base GDV, subject to inspection and specification differences.

Investment Snapshot

Strategy Recommendation

Proceed only after confirming the physical condition, parking/heating details, refurbishment budget and all special-condition fees. The property is potentially suitable for an owner-occupier or landlord, but the evidence is insufficient to set a defensible maximum bid.

Works Required

Updating to modern standards as described by the auctioneer. The evidence does not identify specific defects, required trades or a quantified refurbishment scope, so no detailed works allowance is provided.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the base GDV of £200,000, a 75% refinance is £150,000. The purchase, refurbishment and total project cost cannot be calculated reliably because the works allowance, finance costs and any additional seller fees are unsupported. Cash left in is therefore unquantified.

Buy-to-Let Analysis

The property has vacant possession and may suit a landlord, but no sufficiently specific rental evidence or auctioneer rent estimate was supplied. Rent and yield cannot therefore be established. Refurbishment costs and any seller-charged completion fees are also unknown.

Flip Analysis

The supplied same-road sales support a base GDV of £200,000, with a £160,000–£210,000 evidence range. A flip surplus cannot be calculated because refurbishment costs and selling costs are not supplied.

Investor Risks & Due Diligence

• The property requires updating, but the extent and cost of works are not evidenced.

• No sufficiently specific rental comparables or auctioneer rent estimate were supplied, so BTL yield cannot be assessed.

• Parking and heating details require confirmation from the auction centre.

• The seller may charge additional completion fees under the special conditions, but no amount is supplied.

• Comparable sale prices vary materially from £150,000 to £210,000.

• Vacant possession is stated, but the property remains subject to auction legal and special-sale conditions.

Recommendation

Proceed only after confirming the physical condition, parking/heating details, refurbishment budget and all special-condition fees. The property is potentially suitable for an owner-occupier or landlord, but the evidence is insufficient to set a defensible maximum bid.

Strategy Rating

Analysis Confidence

There are several directly comparable completed sales on the same road, including two relatively recent transactions, but no rental evidence, quantified works budget, inspection detail or complete fee schedule.