477 Tessall Lane, Northfield, Birmingham, B31 5HA

Description

A vacant freehold mid terraced property standing back from the road behind a foregarden. The property has double glazing however is in need of refurbishment works throughout.

Accommodation

Ground Floor: Hall, Reception Room With Understairs Storage, Kitchen. First Floor: Landing, Two Bedrooms, Bathroom, Separate WC. Outside: Gardens.

Location

Northfield, Birmingham

Tenure / Property Information

Investment Analysis

The two supplied sold comparables are for 485 Tessall Lane, a freehold terraced property, at £120,000 and £159,000. They provide a broad evidence range only; differences in condition, size and specification are unknown, and the subject requires refurbishment throughout. A simple midpoint gives an estimated base GDV of £139,500, with low/high scenarios of £120,000 and £159,000.

Investment Snapshot

Strategy Recommendation

Proceed only as a refurbishment-led purchase if inspection and the legal pack establish a manageable works scope, achievable rent and acceptable additional costs. Do not set a maximum bid until refurbishment and selling/holding costs are known.

Works Required

Refurbishment throughout as stated by the auctioneer. The evidence does not specify the required works, condition of individual elements or a costed scope, so a survey and legal-pack review are essential before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the guide price, the known acquisition outlay is £52,700 including the £2,700 administration charge, before refurbishment, tax and any additional special-condition costs. A 75% refinance against the £139,500 base GDV would be approximately £104,625, but cash-left-in cannot be calculated because refurbishment and total project costs are unknown. The strategy may have potential, subject to a verified works budget, valuation and refinance terms.

Buy-to-Let Analysis

The supplied advertised asking rents range from £390 to £1,150 pcm for two-bedroom properties in B31. This is a very wide range and no achieved or passing rent is provided. At the £50,000 guide, the implied gross yield range is approximately 9.36% to 27.60% before refurbishment, finance, voids, management and other costs. A reliable BTL assessment cannot be established without confirming achievable rent and refurbishment cost.

Flip Analysis

The supplied GDV evidence supports a broad resale range of £120,000 to £159,000, with a simple base estimate of £139,500. Flip surplus cannot be calculated because refurbishment costs, selling costs and any additional completion costs are not supplied. The wide comparable range and unknown condition make the resale outcome uncertain.

Investor Risks & Due Diligence

• Refurbishment is stated to be required throughout, but no detailed scope or cost estimate is provided.

• Rental evidence is advertised asking rent rather than achieved rent and ranges widely from £390 to £1,150 pcm.

• The supplied sold comparables show a material price range of £120,000 to £159,000 and may differ in condition, size or specification.

• EPC, heating and other property details are unavailable in the supplied evidence.

• Additional costs may appear in the Special Conditions and are not included in the stated administration fee.

• Stamp duty and government taxes are excluded from the supplied auction costs.

Recommendation

Proceed only as a refurbishment-led purchase if inspection and the legal pack establish a manageable works scope, achievable rent and acceptable additional costs. Do not set a maximum bid until refurbishment and selling/holding costs are known.

Strategy Rating

Analysis Confidence

Sold-price evidence and a guide price are available, but refurbishment costs, EPC, heating, parking, achievable rent, selling costs and special-condition costs are not supplied. Rental evidence is advertised asking rent with a very wide range.