40 Corona Drive, Thorne, Doncaster, South Yorkshire DN8 4DB

Description

Description A three bedroom, two bathroom semi detached property in very good order through out with gas central heating and double glazing. The property is currently let subject to an AST which produces £9,600 per annum and a such would be of interest to buy to let investors.

The well kept accommodation compromises an entrance hall, lounge, dining kitchen and bathroom on the ground floor whilst to the first floor are three bedrooms and a further bathroom. Outside there are good size gardens and and a driveway / off street parking.

Accommodation Ground Floor Entrance Hall, Lounge, Dining Kitchen, Bathroom, First Floor Bedroom One, En-Suite, Bedroom Two, Bedroom Three, Outside front & rear gardens, off street parking Tenure Freehold Occupancy Subject to a tenancy

Investment Analysis

Investment Snapshot

Underwriting basis. This is an indicative desktop appraisal. GDV is an estimated post-works/open-market value, not a guaranteed valuation. Comparable research is widened from the same street/postcode to the surrounding market up to approximately five miles where necessary.

Market Comparables

• 40 Corona Drive subject prior sale Dec 2022 £135,000

• 59 Corona Drive sold Jul 2024 £133,500

• 69 Corona Drive sold Oct 2022 £140,000

HB estimated GDV: £129,000 low / £140,000 base / £151,000 high. The range reflects comparable quality, condition and the fact that auction stock can trade below normal owner-occupier market value.

Proposed Works

The allowance follows the auction description/visible condition and investor-standard refurbishment scope. It is not a structural survey or contractor quotation.

Rental Value

Working market rent is approximately £800 pcm (£9,600 pa). For scenario testing, use roughly £736 / £800 / £864 pcm for low/base/high cases. This is an indicative market-rent estimate and should be read alongside any passing tenancy stated by the auctioneer.

Low / Base / High Investment Scenario

Buy-to-Let

Base rent £800 pcm gives 9.6% gross yield on guide and 8.5% on guide plus midpoint works. These are gross yields before voids, repairs, management, insurance and finance.

BRRR Analysis

Guide £100,000 + midpoint works £13,250 + auction fee allowance £1,800 + legal/valuation £1,500 + indicative six-month bridge/arrangement cost £4,550 + holding allowance £1,500 gives a pre-SDLT all-in cost of approximately £122,600. At base GDV £140,000, a 75% refinance is £105,000, leaving approximately £17,600 capital in before SDLT. Low/high refinance outcomes are £96,750 / £113,250.

Flip Analysis

Using base GDV £140,000, pre-SDLT all-in cost £122,600 and selling/legal allowance £2,788, indicative pre-tax/pre-SDLT flip surplus is £14,612. That is approximately 11.9% profit on cost and 10.4% of GDV. A 5% sale-price reduction and 15% works overrun should be stress-tested before bidding.

Maximum Bid Indicator

For an indicative 15% pre-tax profit-on-cost target before SDLT, the desktop purchase ceiling is approximately £99,680. This is a screening figure, not a formal valuation or bidding recommendation.

Strategy Rating

Buy-to-Let: ★★★★☆ | BRRR: ★★★★☆ | Flip: ★★★☆☆

Key Risks

Confirm legal title/tenure, occupancy, planning/licensing, service charge/ground rent where relevant, structural condition, utilities, abnormal works and finance terms. Market comparables are indicative and should be refreshed immediately before bidding.