66 Chaucer Street, Northampton, Northamptonshire, NN2 7HN

Description

A three-bedroom Victorian terraced property extending to approximately 870 sq ft, situated within Northampton’s popular Poets’ Corner area of Kingsley, requiring full refurbishment throughout. The property is offered with vacant possession and requires a comprehensive programme of refurbishment.

Accommodation

Entrance hall; lounge/dining area; kitchen; ground-floor bathroom; three first-floor bedrooms; long rear garden. Entrance hall: 10'11 x 2'8. Lounge/dining area: 22'3 x 11'2. Kitchen: 9'11 x 7'7. Bathroom: 9 x 6'10. Bedroom one: 14'4 x 10'4. Bedroom two: 11'5 x 8'9. Bedroom three: 9'7 x 7'9. The rear garden is long and in need of cultivation and improvement.

Location

Situated within Northampton’s popular Poets’ Corner area of Kingsley, approximately two miles from Northampton town centre.

Tenure / Property Information

Investment Analysis

The five completed same-street sales range from £195,000 to £280,000, with a median of £220,000. Differences in condition, specification, size and timing are not provided, so £220,000 is used as an indicative base GDV rather than a formal valuation. Evidence-supported scenarios are £195,000 to £280,000.

Investment Snapshot

Strategy Recommendation

Proceed only after obtaining a full survey, detailed refurbishment quotation and review of the Special Conditions of Sale. The property may suit a refurbishment-led BTL or resale strategy, but the guide price alone does not establish an investable margin.

Works Required

Comprehensive refurbishment throughout, as stated in the description, together with cultivation and improvement of the long rear garden. The evidence does not specify individual defects, structural issues, or a costed works schedule.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £150,000 guide, the known buyer premium and admin charge add £3,600 including VAT, before any special-condition costs and refurbishment. A 75% refinance against the £220,000 base GDV would be £165,000, but total project cost and cash left in cannot be calculated without a refurbishment budget and full fees. Refinance valuation and lending assumptions are also unconfirmed.

Buy-to-Let Analysis

The advertised asking rent is £1,250 pcm, equivalent to £15,000 annually. This produces an indicative 10.00% gross yield against the £150,000 guide price before refurbishment, finance, purchase costs and other charges. A true yield on total project cost cannot be established because refurbishment costs and some acquisition costs are unknown. The rent is advertised, not an achieved or passing rent.

Flip Analysis

The indicative base GDV is £220,000, but resale surplus cannot be calculated because no refurbishment allowance or selling-cost allowance is supplied. The gross spread over the guide is not a reliable profit measure because the property requires comprehensive refurbishment and additional auction-related charges may apply.

Investor Risks & Due Diligence

• Full refurbishment is required, but no costed works schedule or condition survey is supplied.

• Comparable sale condition, specification and size details are unavailable, making the GDV range indicative only.

• The £1,250 pcm figure is an advertised asking rent rather than achieved or passing rent.

• Special Conditions of Sale may add search, legal, transfer and sellers’ costs beyond the known charges.

• Refinance proceeds depend on the achieved valuation and lender terms, which are not supplied.

• The property is vacant and the long rear garden requires cultivation and improvement.

Recommendation

Proceed only after obtaining a full survey, detailed refurbishment quotation and review of the Special Conditions of Sale. The property may suit a refurbishment-led BTL or resale strategy, but the guide price alone does not establish an investable margin.

Strategy Rating

Analysis Confidence

Completed same-street sales and one advertised rent are available, but the comparables lack condition and specification details, while refurbishment costs, selling costs, council tax, parking and some purchase fees are unavailable.