37 Priestsic Road, Sutton-In-Ashfield, Nottinghamshire, NG17 2AH

Description

Auction House Notts and Derby present this two bedroom mid terrace house located in Sutton-In-Ashfield and offered via online auction. The property comprises a lounge, dining room, kitchen with cellar access, two bedrooms, a bathroom and a rear garden. It is described as an excellent hands-off investment opportunity and is let at £600pcm. The property is close to a range of amenities and transport links.

Accommodation

Lounge, dining room, kitchen with cellar access, two bedrooms, bathroom and rear garden.

Location

Located in Sutton-In-Ashfield, close to a range of amenities and transport links.

Tenure / Property Information

Investment Analysis

The evidence supports an indicative GDV range of £51,500–£90,000, based on the subject's 2013 sale at £51,500 and same-road terraced sales at £68,000 and £90,000. The £50,000 sale of 45 Priestsic Road provides additional lower-end context, but the comparables vary by date, address and potentially condition. A base GDV of £68,000 uses the most recent directly comparable same-road sale, but is not a formal valuation.

Investment Snapshot

Strategy Recommendation

Consider only as a cautious income-led BTL purchase if the tenancy, condition and legal position are satisfactory and the final price is below the upper guide. Avoid relying on a flip or BRRR strategy without further valuation and cost evidence.

Works Required

No specific refurbishment works are evidenced. Obtain an inspection and confirm condition, tenancy responsibilities and any required works before bidding. The financial illustration applies no refurbishment allowance, rather than assuming the property requires none.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £65,000 upper guide, the known-cost basis is £68,600 including the £3,600 admin charge and no refurbishment allowance. A 75% refinance against the £68,000 base GDV would be £51,000, leaving approximately £17,600 of the known-cost basis unrecovered before finance, tax, works and other fees. The strategy therefore depends on buying below the upper guide or achieving a higher supported valuation.

Buy-to-Let Analysis

The stated rent is £600pcm, producing £7,200 annual gross rent. At the £65,000 upper guide, the gross yield is approximately 11.1%; including the known £3,600 admin charge but excluding unknown additional fees and works, it is approximately 10.5%. Net yield cannot be established because operating costs, tenancy terms and other charges are not supplied.

Flip Analysis

At the upper guide, the known-cost basis is £68,600 against the £68,000 base GDV, before selling costs, finance, tax, works and other charges. This indicates no supported flip margin on the base case. The £90,000 high comparable is materially higher than the recent £68,000 same-road sale and should not be relied upon without further evidence.

Investor Risks & Due Diligence

• The property is stated to be let at £600pcm, but tenancy terms, arrears position, deposit information and tenant obligations are not supplied.

• No condition or refurbishment assessment is provided, so actual works and costs are unknown.

• Additional search, seller, legal, transfer, buyer premium and disbursement charges may apply but are unquantified.

• The sold comparables vary significantly in price and date, limiting confidence in the GDV range.

• The EPC is rated D, but no evidence is supplied regarding any required or advisable improvement costs.

Recommendation

Consider only as a cautious income-led BTL purchase if the tenancy, condition and legal position are satisfactory and the final price is below the upper guide. Avoid relying on a flip or BRRR strategy without further valuation and cost evidence.

Strategy Rating

Analysis Confidence

The stated rent, tenure, occupancy, accommodation, admin charge and several sold comparables are available, but condition, tenancy terms, additional fees, refurbishment costs and directly comparable current market evidence are incomplete.