40 Ryecroft Street, Stapleford, Nottingham, Nottinghamshire

Description

A three bedroom semi detached house. Externally the property benefits from off road parking and a rear garden. In need of modernisation. Extension potential subject to requisite consents. Vacant.

Accommodation

Ground Floor - Entrance Hallway, Reception Room, Kitchen. First Floor - Three Bedrooms, Bathroom/WC.

Location

Stapleford is a town in the county of Nottinghamshire. Located on the east side of Ryecroft Street. A selection of amenities can be found nearby along Stapleford town centre approximately 0.7 miles. Recreational amenities of Hickings Lane Recreation Ground and Bramcote Hills Park are easily accessible. Major road links are via the M1. Transport Toton Lane - Tram. Ilkeston - EMR / northern. Beeston - CrossCountry/E M R.

Tenure / Property Information

Investment Analysis

The guide of £90,000 is below the supplied completed-sale evidence on the same street. Comparable semi-detached freehold sales range from £125,000 to £182,500, including £162,000 at 36 Ryecroft Street on 25 August 2023. A base GDV of £162,000 is used, with low and high scenarios of £140,000 and £182,500 respectively. These are indicative only because the comparable properties' condition, size and specification are not supplied, and this property requires modernisation.

Investment Snapshot

Strategy Recommendation

Proceed only subject to a detailed inspection, contractor pricing and review of the Special Conditions. The strongest apparent opportunity is a refurbishment-led resale or refinance, but the incomplete works and fee information prevents a reliable bid limit.

Works Required

Modernisation is required, but the supplied evidence does not specify the defects, scope, specification or costs. Confirm the condition of the kitchen, bathroom, décor, services, windows, roof, heating and external areas before bidding. Any extension remains subject to the requisite consents.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A potential BRRR route is indicated by the guide price being below the supplied same-street sales evidence, with an indicative 75% refinance of the base GDV of £121,500. However, refurbishment costs, buyer charges, finance costs and total project cost are unknown, so cash left in and refinance viability cannot be calculated.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. The property is vacant and requires modernisation; obtain local achieved-rent evidence and a full cost schedule before assessing yield.

Flip Analysis

The supplied comparable sales support a possible resale value around the £162,000 base GDV after suitable modernisation, with a supported evidence range of £140,000 to £182,500. A flip surplus cannot be calculated because the works cost, auction buyer fee, VAT treatment, other sale costs and selling allowance are not supplied.

Investor Risks & Due Diligence

• The property is described as requiring modernisation, but the extent and cost of works are unspecified.

• Buyer premium, VAT treatment and any other seller charges are not quantified and must be checked in the Special Conditions of Sale.

• No sufficiently specific rental evidence is supplied, so BTL yield cannot be established.

• EPC rating is E, with no further specification of heating, services or other building condition.

• Extension potential is subject to the requisite consents and is not an assured source of value.

Recommendation

Proceed only subject to a detailed inspection, contractor pricing and review of the Special Conditions. The strongest apparent opportunity is a refurbishment-led resale or refinance, but the incomplete works and fee information prevents a reliable bid limit.

Strategy Rating

Analysis Confidence

There are five completed same-street sales and clear tenure, occupancy and guide-price information, but condition, size, rental, refurbishment-cost and auction-fee evidence is incomplete.