45 Bankfield Road, Tipton

Description

A semi detached property in a cul-de-sac location needing full modernization.

Accommodation

Ground Floor: Hall, Front & Rear Reception Room, Kitchen. First Floor: Landing, Three Bedrooms, Bathroom/WC. Outside: Front & Rear Garden With Off Road Parking.

Location

Close to Perry Barr train station, supermarkets, Perry Hall Park, and Handsworth Grammar School.

Tenure / Property Information

Investment Analysis

The five supplied HM Land Registry comparables are same-road freehold semi-detached sales ranging from £167,000 to £200,000, with the two latest sales at £167,000 and £172,000. As the subject requires full modernisation and the comparable condition is not provided, an indicative HB GDV range of £167,000–£198,500 is used, with a £180,000 base estimate. This is an estimate, not a formal valuation.

Investment Snapshot

Strategy Recommendation

Proceed only subject to a detailed inspection, legal-pack review and fixed refurbishment quotations. The property may suit either a refurbishment-to-let or refurbishment-to-sell strategy, but no maximum bid can be supported until total project costs are known.

Works Required

Full modernisation is required, supported by the auction description. The precise scope and cost require inspection and contractor quotations; the evidence does not confirm specific defects or provide a refurbishment budget.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £180,000 base GDV, 75% refinance is approximately £135,000. BRRR feasibility cannot be confirmed because the full-modernisation cost, finance costs, taxes and other legal-pack costs are unavailable. The £2,700 administration charge is known but does not resolve the total project cost.

Buy-to-Let Analysis

The supplied advertised asking rents are £1,100–£1,200 pcm, giving an indicative midpoint annual rent of £13,800 and a gross yield of approximately 15.51% against the £89,000 guide. A yield on total project cost cannot be established because refurbishment costs and any additional completion costs are unsupported.

Flip Analysis

The supplied comparable evidence supports a broad indicative resale range of £167,000–£198,500, with a £180,000 base GDV. A flip surplus cannot be calculated because refurbishment, acquisition, finance and selling costs are not provided. The property is vacant on completion, allowing works to commence after completion, subject to legal and practical matters.

Investor Risks & Due Diligence

• Full modernisation is stated but its scope and cost are not provided.

• Comparable property condition and specification are not supplied, limiting GDV certainty.

• Rental figures are advertised asking rents rather than achieved rents.

• Additional costs may be listed in the legal pack and are not quantified.

• EPC and heating information are unavailable.

• No maximum bid can be calculated without refurbishment and total-cost evidence.

Recommendation

Proceed only subject to a detailed inspection, legal-pack review and fixed refurbishment quotations. The property may suit either a refurbishment-to-let or refurbishment-to-sell strategy, but no maximum bid can be supported until total project costs are known.

Strategy Rating

Analysis Confidence

Same-road completed-sale evidence, advertised rental evidence, tenure and vacant possession are supplied, but comparable condition, refurbishment costs, EPC, legal-pack costs, finance costs and selling costs are unavailable.