51 Nottingham Road, Alfreton, Derbyshire DE55 7HL

Description

A good sized traditional terrace house, perfect as a buy to let investment, the property would benefit from some light modernisation but has the added bonus of gas central heating and double glazing. The accommodation briefly comprises: Lounge, dining room and kitchen. To the first floor there are two bedrooms and a bathroom. Outside there is a garden to the rear and a small fore garden to the front. The property comes with vacant possession.

Accommodation

Lounge (3.62m x 3.62m); dining room (3.93m x 3.61m); kitchen (3.90m x 1.78m); bedroom one (3.66m x 3.63m); bedroom two (3.96m x 2.72m); bathroom (3.91m x 1.81m). Outside: rear garden and small fore garden to the front.

Tenure / Property Information

Investment Analysis

The five supplied completed sales on the same road range from £86,000 to £130,000, with the most recent sale at £130,000 on 17 January 2025. The evidence does not provide the comparables’ bedroom counts or condition, so a precise valuation is not supported. A cautious scenario range of £100,000–£130,000 is used, with £120,000 as the base GDV estimate. The £145,000+ guide is above the supplied comparable evidence before buyer premium, works and other costs.

Investment Snapshot

Strategy Recommendation

Do not bid at or above the guide on the current evidence. Obtain a survey, detailed works quotation and reliable local rental evidence; only reconsider if the purchase price is materially below the guide and the full project cost supports the chosen strategy.

Works Required

The description supports light modernisation only. Scope and cost are not specified; no additional defects or works are assumed. Existing gas central heating and double glazing are noted.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the base GDV estimate, 75% refinance proceeds would be approximately £90,000. However, works costs, rent, finance costs and the complete acquisition cost are unavailable, so cash left in and refinance viability cannot be calculated. The guide price is above the supplied completed-sale evidence.

Buy-to-Let Analysis

The property has vacant possession and is described as suitable for buy to let, but no sufficiently specific rental comparable or auctioneer rent estimate is supplied. Rent and gross yield therefore cannot be established. At the £145,000 guide, the 1.2% buyer premium would be £1,740, before works and other additional costs.

Flip Analysis

The base GDV estimate is £120,000 against a £145,000+ guide before the £1,740 buyer premium, light modernisation and other costs. On the supplied evidence, a positive flip margin is not supported. No selling allowance or works cost is supplied, so flip surplus is not calculated.

Investor Risks & Due Diligence

• The £145,000+ guide exceeds the supplied same-road completed-sale range of £86,000–£130,000.

• Buyer premium is £1,740 at the guide price, with additional costs and possible Special Conditions fees unspecified.

• Light modernisation is required but no scope or cost estimate is supplied.

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

• The comparable sales do not include bedroom or condition details, limiting GDV confidence.

• Vacant possession means rent is not currently passing.

Recommendation

Do not bid at or above the guide on the current evidence. Obtain a survey, detailed works quotation and reliable local rental evidence; only reconsider if the purchase price is materially below the guide and the full project cost supports the chosen strategy.

Strategy Rating

Analysis Confidence

There are five same-road completed sales and a clear property description, but bedroom and condition details for the comparables, rental evidence, EPC, tenure, works costs and several property charges are unavailable.