50 Jeremy Road, Goldthorn Park, Wolverhampton, WV4 5DB

Description

A vacant freehold semi detached property in Goldthorn Park with development potential subject to planning. The property stands back from the road behind a driveway and foregarden. It is in need of modernisation works throughout.

Accommodation

Ground Floor: Porch, Hall with Understairs Cupboard, Through Reception Room, Kitchen with Pantry, Lean to Sun Room, WC. First Floor: Landing, Three Bedrooms, Bathroom, Separate WC. Outside: Gardens, Driveway Parking and Side Garage.

Location

Goldthorn Park, Wolverhampton

Tenure / Property Information

Investment Analysis

The only recent completed comparable supplied is 61 Jeremy Road, a semi-detached freehold property sold for £255,000 in October 2024. This supports a provisional base GDV of £255,000, but the comparable's condition and specification are not provided. The subject property requires modernisation throughout, so £255,000 should not be treated as a formal valuation. The guide is £230,000, with a £2,700 administration charge payable in addition.

Investment Snapshot

Strategy Recommendation

Proceed only subject to inspection, legal-pack review, a verified refurbishment quotation and planning advice. At the guide, the evidence does not establish sufficient margin for a flip or BRRR. A BTL purchase may be viable on headline rent yield alone, but only if the modernisation cost is controlled and the achieved rent supports the asking-rent evidence.

Works Required

Modernisation throughout, with the exact scope and cost to be confirmed by inspection. Any proposed development works require planning review and are not included in the financial estimates.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the provisional £255,000 base GDV, 75% refinancing would be £191,250. The refinance position cannot be fully assessed because the cost of modernisation, acquisition taxes and any other completion costs are not supplied. The guide plus the known administration charge is £232,700 before works and other costs, leaving only £22,300 against the provisional GDV before those deductions.

Buy-to-Let Analysis

Using the supplied advertised asking rents of £950–£1,200 pcm, the gross yield on the £230,000 guide is approximately 4.96%–6.26%. Using the £1,170 pcm asking rent gives annual rent of £14,040 and a 6.10% gross yield. These are advertised rents rather than achieved rents, and the yield before refurbishment, finance, tax, insurance, maintenance and voids cannot be established because refurbishment costs are unavailable.

Flip Analysis

A provisional £255,000 GDV compared with the £230,000 guide and £2,700 administration charge leaves £22,300 before refurbishment, stamp duty or government taxes, selling costs and other completion costs. A reliable flip surplus cannot therefore be calculated. The GDV is based on one recent same-road comparable and is not a formal valuation.

Investor Risks & Due Diligence

• The property is described as needing modernisation throughout, but no refurbishment scope or cost is supplied.

• Development potential is expressly subject to planning and cannot be relied upon without approval.

• The £255,000 GDV indication is supported by only one recent comparable whose condition and specification are not provided.

• Rental figures are advertised asking rents, not achieved or passing rents.

• The £2,700 administration charge is known, but additional special-condition costs are unknown.

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

• Vacant possession means there is no existing passing rent to verify.

Recommendation

Proceed only subject to inspection, legal-pack review, a verified refurbishment quotation and planning advice. At the guide, the evidence does not establish sufficient margin for a flip or BRRR. A BTL purchase may be viable on headline rent yield alone, but only if the modernisation cost is controlled and the achieved rent supports the asking-rent evidence.

Strategy Rating

Analysis Confidence

There is one recent same-road completed sale and several advertised rental figures, but no refurbishment quotation, condition survey, planning outcome, achieved rent evidence, formal valuation or complete special-condition costs.