56 Wellington Road, Edlington, Doncaster, South Yorkshire DN12 1AQ

Description

Description A three bedroom mid terrace property with gas central heating and double glazing. The property is currently let subject to an AST which producing £8,400 per annum. The accommodation comprises an entrance porch, lounge, dining room, kitchen, three good size bedrooms and a bathroom.

Outside there is a driveway providing off street parking to the front with an enclosed rear yard.

Accommodation Ground Floor Entrance Porch, Lounge, Dining Room, KItchen, First Floor Bedroom One, Bedroom Two, Bedroom Three, Bathroom, Outside Front garden which could also provide off street parking, enclosed rear garden. Tenure Freehold Occupancy Subject to a tenancy

Investment Analysis

Investment Snapshot

Underwriting basis. This is an indicative desktop appraisal. GDV is an estimated post-works/open-market value, not a guaranteed valuation. Comparable research is widened from the same street/postcode to the surrounding market up to approximately five miles where necessary.

Market Comparables

• 56 Wellington Road subject prior sale Feb 2023 £83,000

• Nearby Wellington Road sales include £83,000, £72,000 and £65,000

HB estimated GDV: £78,000 low / £85,000 base / £92,000 high. The range reflects comparable quality, condition and the fact that auction stock can trade below normal owner-occupier market value.

Proposed Works

The allowance follows the auction description/visible condition and investor-standard refurbishment scope. It is not a structural survey or contractor quotation.

Rental Value

Working market rent is approximately £700 pcm (£8,400 pa). For scenario testing, use roughly £644 / £700 / £756 pcm for low/base/high cases. This is an indicative market-rent estimate and should be read alongside any passing tenancy stated by the auctioneer.

Low / Base / High Investment Scenario

Buy-to-Let

Base rent £700 pcm gives 16.8% gross yield on guide and 13.3% on guide plus midpoint works. These are gross yields before voids, repairs, management, insurance and finance.

BRRR Analysis

Guide £50,000 + midpoint works £13,250 + auction fee allowance £900 + legal/valuation £1,500 + indicative six-month bridge/arrangement cost £2,275 + holding allowance £1,500 gives a pre-SDLT all-in cost of approximately £69,425. At base GDV £85,000, a 75% refinance is £63,750, leaving approximately £5,675 capital in before SDLT. Low/high refinance outcomes are £58,500 / £69,000.

Flip Analysis

Using base GDV £85,000, pre-SDLT all-in cost £69,425 and selling/legal allowance £2,007, indicative pre-tax/pre-SDLT flip surplus is £13,568. That is approximately 19.5% profit on cost and 16.0% of GDV. A 5% sale-price reduction and 15% works overrun should be stress-tested before bidding.

Maximum Bid Indicator

For an indicative 15% pre-tax profit-on-cost target before SDLT, the desktop purchase ceiling is approximately £55,000. This is a screening figure, not a formal valuation or bidding recommendation.

Strategy Rating

Buy-to-Let: ★★★★☆ | BRRR: ★★★★★ | Flip: ★★★★☆

Key Risks

Confirm legal title/tenure, occupancy, planning/licensing, service charge/ground rent where relevant, structural condition, utilities, abnormal works and finance terms. Market comparables are indicative and should be refreshed immediately before bidding.