36 Nowell Mount, Leeds, West Yorkshire LS9 6HW

Description

This vacant three bedroom, through terraced house is ideal for an investor wanting to add value to a property or to add to their rental portfolio. Internally, the property does require full renovation and modernisation, however once completed it would make an excellent home. It also benefits from a yard to the rear.

Accommodation

Ground Floor: Kitchen and living room. First Floor: Two bedrooms and bathroom. Second Floor: Bedroom. Externally: Rear yard.

Location

Located within Harehills, which is 1.5 miles north of Leeds city centre and is part of the selective licensing area. There are regular bus routes into the city, making it ideal for commuters or for access to all the amenities. Harehills offers plenty of local shops, schools and restaurants.

Tenure / Property Information

Investment Analysis

Comparable completed sales on Nowell Mount range from £120,000 to £135,000. A base GDV of £130,000 is supported, subject to full renovation quality and legal/planning checks. The property requires full renovation and modernisation, but no works-cost evidence is supplied.

Investment Snapshot

Strategy Recommendation

Proceed only subject to a full renovation quotation and legal-pack review. The property may suit a refurbish-and-hold or flip strategy, but the maximum bid should be set only after confirming works and all auction costs.

Works Required

Full renovation and modernisation as described, with no specific works or costs evidenced. Rear yard retained.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A potential BRRR exists because the guide is below comparable completed sales and 75% of the base GDV is £97,500. However, refurbishment costs, total project cost, EPC and legal-pack liabilities are unknown, so cash required and refinance surplus cannot be confirmed.

Buy-to-Let Analysis

Advertised rental evidence indicates £950 pcm, or £11,400 annually. This equates to 16.29% gross yield against the £70,000 guide before refurbishment, fees, finance, voids and operating costs. True project yield cannot be established without renovation costs.

Flip Analysis

The evidence supports a resale range of £120,000–£135,000 after suitable renovation. Flip surplus cannot be calculated because refurbishment costs and any selling allowance are unsupported. Admin charges and searches are £2,460 at the guide, before other possible legal-pack disbursements.

Investor Risks & Due Diligence

• Full renovation and modernisation are required, with no costed scope supplied.

• Selective licensing applies in Harehills.

• Advertised asking rents may not equal achieved rents.

• Special Conditions may create additional legal, transfer, seller-cost or disbursement liabilities.

• EPC rating is not supplied.

• Vacant property may incur holding and security costs during renovation.

Recommendation

Proceed only subject to a full renovation quotation and legal-pack review. The property may suit a refurbish-and-hold or flip strategy, but the maximum bid should be set only after confirming works and all auction costs.

Strategy Rating

Analysis Confidence

Completed sales and advertised rent evidence are available, but refurbishment costs, EPC, parking/heating details and potential legal-pack disbursements are not supplied.