4 Fern Grove, Folkestone Street, Hull, East Yorkshire, HU5 1BN

Description

A two-bedroom end-terrace house requiring updating throughout. The property offers a straightforward refurbishment opportunity and would suit investors, owner occupiers, or DIY enthusiasts looking for a manageable project.

Accommodation

Ground Floor - Entrance, Living Room, Kitchen, Bathroom. First Floor - Landing leading to Two Bedrooms.

Location

Fern Grove is situated off Folkestone Street in the popular HU5 area of Hull, close to a range of local shops, amenities and schools. Regular bus services provide easy access to Hull City Centre, the University of Hull and Hull Royal Infirmary, with good road links to the A63 and wider motorway network.

Tenure / Property Information

Investment Analysis

The strongest evidence is the completed £72,000 sale of No. 5 Fern Grove in August 2024. The subject is also recorded at £75,000 in 2007, but that sale is too old to carry the same weight. As the property requires updating throughout and no condition detail or refurbishment budget is supplied, £72,000 is used as the base GDV, with an evidence-based range of £72,000 to £75,000 rather than a wider unsupported range.

Investment Snapshot

Strategy Recommendation

Proceed only after confirming the refurbishment scope and legal-pack costs. The property may suit a cautious value-add BTL or owner-occupier purchase, but the guide should not be treated as a maximum bid without a verified works budget.

Works Required

General updating throughout as described by the auction evidence. The precise works, specification and cost cannot be established from the supplied information; a viewing and legal/condition review are required before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £55,000 guide, the known buyer premium is £1,500 and the minimum administration charge is £1,200, before any disbursements and refurbishment. A 75% refinance of the £72,000 base GDV equates to £54,000. Cash left in cannot be calculated reliably because refurbishment costs and total project costs are unknown.

Buy-to-Let Analysis

The only rental evidence is an advertised £375 pcm asking rent for a two-bedroom house in Willerby, not the subject's HU5 location. At that indicative rent, annual gross rent would be £4,500 and gross yield on the £55,000 guide would be approximately 8.18%. A reliable market rent and net yield cannot be established from the supplied evidence.

Flip Analysis

The base GDV is estimated at £72,000 using the latest same-street completed sale. A flip surplus cannot be calculated because refurbishment costs, selling costs and other completion charges are not supplied. The £55,000 guide leaves only a limited apparent margin before those costs.

Investor Risks & Due Diligence

• Refurbishment is described only as updating throughout, with no verified scope or cost.

• The only rental evidence is an advertised asking rent in Willerby rather than HU5.

• Buyer premium, minimum administration charge and possible disbursements increase the acquisition cost above the guide.

• The latest comparable is a different property on the same street, so exact condition and specification differences are unknown.

• No EPC, detailed condition report or legal-pack costs are supplied.

Recommendation

Proceed only after confirming the refurbishment scope and legal-pack costs. The property may suit a cautious value-add BTL or owner-occupier purchase, but the guide should not be treated as a maximum bid without a verified works budget.

Strategy Rating

Analysis Confidence

There is useful same-street completed-sale evidence and supplied auction charges, but refurbishment costs, detailed condition, EPC, legal-pack costs and directly comparable local rental evidence are missing.