48 Goodman Way Tanyard Farm, Coventry, West Midlands, CV4 9UG

Description

2 bedroom mid-terrace property with gas central heating, requiring redecoration. Located in a popular residential area off Banner Lane, approximately 0.7 miles from Tile Hill train Station (giving access to Birmingham and London). Ideal investment opportunity.

Accommodation

GROUND FLOOR: Hallway; Kitchen: 9 ft 8 in x 7 ft 2 in; Lounge: 16 ft 4 in x 13 ft 7 in max; Rear lobby; Store. FIRST FLOOR: Bedroom 1: 13 ft 7 in x 11 ft 4 in max; Bedroom 2: 14 ft 9 in max 6 ft 3 in; Bathroom. OUTSIDE: Front garden; Rear garden; Rear parking area.

Location

Popular residential area off Banner Lane, approximately 0.7 miles from Tile Hill train Station, giving access to Birmingham and London.

Tenure / Property Information

Investment Analysis

Same-street completed sales range from £84,000 to £175,000, with the latest supplied sale being £175,000 for 68 Goodman Way in January 2023. Other sales were £128,000 in 2020 and £115,000–£137,000 in 2018. Allowing for the dated and varied evidence, an indicative HB GDV range is £137,000–£175,000, with a working midpoint estimate of £155,000. This is not a formal valuation and no current comparable evidence was supplied.

Investment Snapshot

Strategy Recommendation

Proceed only subject to inspection, confirmed auction legal costs, redecoration quotations and independent rental evidence. Do not rely on the apparent guide-to-GDV discount alone; the available evidence does not currently support a firm BTL, BRRR or flip bid.

Works Required

Redecoration is specifically required. The supplied description also confirms gas central heating, gardens, rear parking and EPC C; no further defects or improvement requirements are evidenced. Obtain a detailed inspection and refurbishment quotations before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A 75% refinance against the indicative £155,000 base GDV would be approximately £116,250. BRRR viability cannot be quantified because refurbishment costs, achievable rent, finance costs and total acquisition cost are not evidenced. The £37 pcm maintenance charge also reduces net cash flow.

Buy-to-Let Analysis

BTL yield cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate was supplied. The £37 pcm ongoing maintenance charge equals £444 per year and should be included in operating-cost assessment. The property is vacant and has EPC C, but achievable rent remains unverified.

Flip Analysis

The supplied same-street evidence indicates a broad £137,000–£175,000 value range. A flip surplus cannot be calculated because redecoration costs, purchase price, finance costs, selling costs and any additional auction charges are unknown. The latest comparable is from January 2023, so current value remains uncertain.

Investor Risks & Due Diligence

• No sufficiently specific rental evidence or auctioneer rent estimate was supplied.

• Redecoration is required but no costed scope or quotation is available.

• Same-street sold prices range widely from £84,000 to £175,000 and the latest supplied comparable is from January 2023.

• Additional search, seller, legal and transfer fees may apply beyond the stated buyer premium and admin charge.

• The £37 pcm ongoing maintenance charge reduces net rental cash flow.

Recommendation

Proceed only subject to inspection, confirmed auction legal costs, redecoration quotations and independent rental evidence. Do not rely on the apparent guide-to-GDV discount alone; the available evidence does not currently support a firm BTL, BRRR or flip bid.

Strategy Rating

Analysis Confidence

There are several same-street completed sales and clear tenure/occupancy information, but the comparable evidence is dated and widely varied, while rent, refurbishment costs, current valuation and full auction costs are unavailable.