56 High Street, Walcott, Lincoln, LN4 3SW

Description

Situated at the junction with Pinfold Lane, close to the amenities available in Walcott Village. An End of Terrace House requiring modernisation.

Accommodation

Accommodation arranged on two floors. First Floor: Bedroom (One), Bedroom (Two), Bedroom (Three), Bathroom/WC. Ground Floor: Entrance Hall, Living Room, Kitchen, Rear Porch. Large garden at rear.

Location

Situated at the junction with Pinfold Lane, close to the amenities available in Walcott Village.

Tenure / Property Information

Investment Analysis

Completed sales evidence ranges from £115,000 for the same street/address in June 2024 to £140,000 for another High Street terraced property in June 2020. The subject requires modernisation and its condition is not fully described, so a base GDV of £120,000 is used as an estimate rather than a formal valuation. The £115,000–£140,000 scenario range reflects the supplied comparable evidence, not a condition-adjusted valuation.

Investment Snapshot

Strategy Recommendation

Proceed only subject to a pre-bid survey, detailed modernisation quotes and confirmation of all special-condition charges. At the guide, the asking-rent evidence supports further BTL/BRRR investigation, but a maximum bid cannot be set responsibly without the missing costs.

Works Required

Modernisation is required, but the evidence does not specify the defects or scope. Obtain a full survey, building-cost plan and statutory/compliance review before bidding; no reliable works allowance can be calculated from the supplied information.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £45,000 guide, 75% of the £120,000 base GDV is £90,000. A BRRR case may be attractive if the property can be modernised within a controlled budget and refinance is achievable at that valuation, but cash left in and equity cannot be calculated without works, acquisition and finance costs.

Buy-to-Let Analysis

The supplied advertised asking rents are £750–£800 pcm, equivalent to £9,000–£9,600 annually. Against the £45,000 guide, the indicative gross yield is 20.00%–21.33%. This is not a passing-rent analysis, and net yield cannot be assessed because works, finance, insurance, maintenance, voids and other costs are not supplied.

Flip Analysis

The base GDV estimate is £120,000, supported by the supplied £115,000–£140,000 completed-sale evidence. A flip surplus cannot be calculated because refurbishment costs, seller charges and selling costs are not provided. The property’s required modernisation creates execution and valuation risk.

Investor Risks & Due Diligence

• The property is described as requiring modernisation, but the extent and cost of works are unknown.

• EPC rating E may indicate improvement requirements, although no specific defects or upgrade costs are supplied.

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

• The GDV evidence includes different properties and sale dates, with no condition-adjusted valuation.

• The seller may charge additional completion fees under the special conditions, but no amount is supplied.

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

Recommendation

Proceed only subject to a pre-bid survey, detailed modernisation quotes and confirmation of all special-condition charges. At the guide, the asking-rent evidence supports further BTL/BRRR investigation, but a maximum bid cannot be set responsibly without the missing costs.

Strategy Rating

Analysis Confidence

There is useful completed-sale evidence, including a same-street sale, and rental asking evidence. However, the refurbishment scope, costs, full acquisition charges, finance costs, selling costs and final condition are unavailable.