62 Pinegrove Road, Southampton

Description

An End of Terrace House requiring modernisation with accommodation arranged on Two Floors.

Accommodation

First Floor: Bedroom (One), Bedroom (Two). Ground Floor: Entrance Porch, Entrance Hall, Living Room, Dining Room, Kitchen, Bathroom/WC, Conservatory. Front Garden. Garden at Rear.

Location

Situated on Pinegrove Road, close to the amenities available in Southampton City Centre and travelling facilities including Sholing and Woolston Train Stations.

Tenure / Property Information

Investment Analysis

The £241,500 August 2022 completed sale of neighbouring 64 Pinegrove Road is the strongest evidence, but its condition and specification are not supplied. The £153,000 sale of 66 Pinegrove Road is materially older. A base GDV of £241,500 is therefore used as an indicative proxy only, with no reliable low/high scenario adjustment possible. The property requires modernisation, but no works specification or cost evidence is provided.

Investment Snapshot

Strategy Recommendation

Proceed only subject to inspection, lease and special-condition review, and a reliable refurbishment quotation. The apparent guide-price margin against the indicative neighbouring sale is attractive, but the evidence is insufficient to set a defensible maximum bid or confirm a flip surplus.

Works Required

Modernisation of the two-storey house, limited to works supported by the description. The evidence does not specify individual defects, services, layout alterations or a refurbishment budget, so detailed works and costs cannot be quantified.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the indicative £241,500 GDV, 75% refinancing would be £181,125. The strategy cannot be fully modelled because refurbishment costs, total acquisition costs, finance costs and achievable post-works rent are not supplied. The long lease and vacant possession are supportive, but the required modernisation and leasehold-specific costs require verification.

Buy-to-Let Analysis

Advertised asking rents for comparable two-bedroom Southampton houses are £1,200–£1,350 pcm, equivalent to £14,400–£16,200 annually. Against the £100,000 guide, this indicates a gross yield range of 14.4%–16.2% before modernisation, finance, tax, management, maintenance and other costs. Achieved rent is not evidenced, and the property requires modernisation, so the range should not be treated as a passing rent or assured post-works valuation.

Flip Analysis

The adjacent August 2022 completed sale at £241,500 provides an indicative resale reference only. A flip surplus cannot be calculated because refurbishment costs, selling costs and any applicable seller charges are not quantified. The comparable's condition is also unknown.

Investor Risks & Due Diligence

• The property requires modernisation, but the extent and cost of works are not evidenced.

• The £241,500 GDV proxy is based primarily on one neighbouring 2022 sale whose condition and specification are unknown.

• Rental evidence comprises advertised asking rents rather than achieved or passing rents.

• Leasehold ground rent, service charges, restrictions and other lease terms are not supplied.

• The seller may charge additional completion fees, but the amount is not supplied.

• No parking or heating information is provided.

• EPC rating E may affect letting, financing or future compliance considerations.

Recommendation

Proceed only subject to inspection, lease and special-condition review, and a reliable refurbishment quotation. The apparent guide-price margin against the indicative neighbouring sale is attractive, but the evidence is insufficient to set a defensible maximum bid or confirm a flip surplus.

Strategy Rating

Analysis Confidence

There is one relatively recent neighbouring completed sale and two advertised rental references, but no detailed comparable condition data, refurbishment budget, achieved rent, service-charge/ground-rent information, selling costs or complete auction cost schedule.