65 Mowbray Crescent, Hitchin, Hertfordshire

Description

Freehold three bedroom semi-detached house with full vacant possession. Six week completion.

Accommodation

First floor: three bedrooms, bathroom/WC. Ground floor: entrance hall, reception room, kitchen, conservatory, WC. Outside: off street parking, garage, rear garden.

Location

The property is situated on Mowbray Crescent. Road links include the A1(M), accessible at Junction 10, providing access to London to the south. Further transport is provided by Arlesey mainline railway station and local bus services. Shops, bars and restaurants are available in Hitchin and Stevenage, with recreational pursuits locally at the open spaces of Stotfold and along the River Ivel.

Tenure / Property Information

Investment Analysis

The supplied completed sales are same-road freehold semi-detached comparables ranging from £356,000 to £445,500. A base GDV of £383,500 is adopted, using the most recent comparable; the evidence-supported scenario range is £356,000 to £445,500. Differences in size, condition and specification are not supplied, so this is indicative only.

Investment Snapshot

Strategy Recommendation

Potentially attractive as a buy-to-let at the guide if the £2,600 asking rent is achievable and inspection confirms acceptable condition. Do not rely on the apparent BRRR or flip margins until heating, condition, special conditions, seller fees and finance costs are verified.

Works Required

No specific defects or refurbishment requirements are evidenced. Allowance should therefore remain unquantified pending inspection, with particular clarification of the heating system and the property's condition before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £225,000 guide, the known £1,800 administration charge and no quantified works allowance, the base cost is £226,800. Refinancing at 75% of the £383,500 base GDV indicates £287,625 gross refinance proceeds, leaving an indicative £60,825 surplus before finance, tax and other costs. Actual refurbishment and lender valuation evidence are absent, so the result is not reliable enough to underwrite without further due diligence.

Buy-to-Let Analysis

At the £225,000 guide, the single advertised asking rent of £2,600 pcm implies £31,200 annual gross rent and a 13.87% gross yield. Including the known £1,800 administration charge gives a 13.76% gross yield on the quantified £226,800 cost. This is based on an asking rent, not achieved rent, and excludes unknown seller charges, finance, maintenance, voids and management.

Flip Analysis

At the guide price and excluding unquantified works, seller charges and selling costs, the base GDV provides £156,700 of gross value above the quantified purchase cost and administration charge. A net flip surplus cannot be established because refurbishment costs, selling allowance and additional auction charges are unsupported.

Investor Risks & Due Diligence

• The £2,600 pcm figure is an advertised asking rent rather than an achieved or passing rent.

• Property condition and heating details are not supplied, so refurbishment and maintenance costs are unknown.

• The seller may charge additional completion fees, but no amount is provided.

• Six-week completion requires finance, legal work and due diligence to be arranged promptly.

• The comparable sales do not provide supplied details on size, condition or specification differences.

Recommendation

Potentially attractive as a buy-to-let at the guide if the £2,600 asking rent is achievable and inspection confirms acceptable condition. Do not rely on the apparent BRRR or flip margins until heating, condition, special conditions, seller fees and finance costs are verified.

Strategy Rating

Analysis Confidence

There are five same-road completed sales and one advertised rental, but no condition survey, refurbishment costs, achieved rent, heating details, seller fees or full special conditions are supplied.