38 Gravelly Lane, Birmingham, West Midlands B23 6UH

Description

A two double bedroom, two reception room period terrace house, found on Gravelly Lane between South Road and Station Road in the heart of Erdington. This vacant property benefits from gas central heating, double glazing, kitchen, ground floor shower room, rear courtyard and fenced garden, traversing and gated pathway providing access to and from Gravelly Lane.

Accommodation

Living Room: 11' 11'' max x 10' 4'' (3.63m x 3.12m); Dining Room: 11' 10'' x 11' 3'' max (3.60m x 3.43m); Kitchen: 9' 10'' x 5' 6'' (2.99m x 1.68m); Ground Floor Shower: 5' 5'' x 4' 3'' (1.65m x 1.29m); Bedroom One: 11' 11'' max x 11' 2'' (3.63m x 3.40m); Bedroom Two: 11' 10'' max x 11' 6'' (3.60m x 3.50m).

Location

Gravelly Lane between South Road and Station Road in Erdington. Erdington Cross City Line Rail Station is 280m/0.2 miles away. Local shops, restaurants, High Street shopping, multiple major bus connections and Six Ways Island are within 650m/0.4 miles. M6 Junction 6/A38 (M) Aston Expressway is 2.5 miles/1.6 miles by vehicle.

Tenure / Property Information

Investment Analysis

Five supplied completed sales on the same road range from £115,000 to £160,000, with a median of £130,000. The £130,000 base GDV is an indicative evidence-led estimate only; the comparable properties' condition, size and specification are not provided, so no detailed adjustment is possible.

Investment Snapshot

Strategy Recommendation

Do not bid on an investment basis until inspection, legal/title information and refurbishment costs are confirmed. If condition is sound and the purchase price remains materially below evidenced resale values, consider a resale or owner-occupier exit rather than BTL or BRRR.

Works Required

No specific defects or refurbishment requirements are evidenced. Allow for inspection-led works only, with the existing kitchen, shower room, heating, glazing, courtyard and garden to be verified before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

On the £130,000 base GDV, 75% refinance is approximately £97,500. Guide price plus the stated buyer premium is £103,752 before works and any additional charges, so the refinance would not recover even that known acquisition cost. The strategy cannot be underwritten without condition, works and finance-cost evidence.

Buy-to-Let Analysis

BTL assessment cannot be completed because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. At the £99,000 guide, the 4.8% buyer premium would be £4,752, before any works or other charges.

Flip Analysis

The comparable evidence supports an indicative resale range of £115,000 to £160,000, with £130,000 as the base case. A flip surplus cannot be calculated because refurbishment costs, resale costs and the eventual purchase price are unknown. At the guide, the buyer premium alone takes acquisition to £103,752 before works and other fees.

Investor Risks & Due Diligence

• Property condition and refurbishment requirements are not evidenced.

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

• Tenure and lease information are blank and require legal verification.

• The 4.8% buyer premium applies at the guide price, while additional special-condition fees may apply.

• The guide price is not the final purchase price and the supplied comparable values vary substantially.

• EPC, council tax and parking information are not supplied.

Recommendation

Do not bid on an investment basis until inspection, legal/title information and refurbishment costs are confirmed. If condition is sound and the purchase price remains materially below evidenced resale values, consider a resale or owner-occupier exit rather than BTL or BRRR.

Strategy Rating

Analysis Confidence

Same-road completed sales provide useful GDV evidence, but condition, tenure, rental value, refurbishment cost, EPC, council tax, parking and possible special-condition charges are not supplied.