67 Colvile Road, Wisbech, Cambridgeshire

Description

A two bedroom semi-detached house in need of full modernisation with a good sized garden. This two bedroom semi-detached house is ideally located near to Wisbech town centre and is in need of full modernisation.

Accommodation

Ground floor: lounge, dining room and kitchen. First floor: two bedrooms and bathroom. Outside: small front garden with gated side access to a good sized rear garden.

Location

Ideally located near to Wisbech town centre.

Tenure / Property Information

Investment Analysis

The five same-road sold comparables range from £163,000 to £290,000, with a median of £210,000. They are all semi-detached freehold sales, but bedroom counts and condition are not supplied, so the GDV scenarios have limited comparability. The £210,000 base GDV is an evidence-led midpoint rather than a formal valuation.

Investment Snapshot

Strategy Recommendation

Do not bid on financial yield alone. Obtain the legal pack, survey and a priced full-modernisation schedule first; proceed only if the all-in cost remains comfortably below the supported GDV range.

Works Required

Full modernisation is stated as necessary. The EPC is rated F. A survey and legal-pack review are required before specifying or costing the works; no refurbishment allowance is supported by the supplied evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £210,000 base GDV, a notional 75% refinance is £157,500. However, the required full modernisation, unknown works cost, special-condition charges and other acquisition costs prevent calculation of total project cost or cash left in. BRRR viability is therefore unconfirmed.

Buy-to-Let Analysis

The supplied £800 pcm figure is an advertised asking rent, not an achieved rent. At the £85,000 midpoint of the guide, this indicates approximately 11.29% gross rent-to-price yield before refurbishment, fees, finance, voids and operating costs. A reliable net yield or total-cost yield cannot be established because refurbishment costs and other purchase costs are unavailable.

Flip Analysis

A flip surplus cannot be calculated because no refurbishment allowance, resale selling costs or complete project-cost figure is supplied. The evidence supports a £163,000 to £290,000 same-road sold-price range, but comparable bedroom counts and condition are unknown.

Investor Risks & Due Diligence

• Full modernisation is required, but no supported refurbishment cost is available.

• EPC rating F may indicate a material improvement requirement, although the specific works are not supplied.

• The £800 pcm rent is an advertised asking rent rather than an achieved or passing rent.

• Comparable sales do not include bedroom counts or condition details, limiting GDV comparability.

• Buyer premium and admin charge total £2,400, with further legal-pack disbursements or special-condition charges possible.

Recommendation

Do not bid on financial yield alone. Obtain the legal pack, survey and a priced full-modernisation schedule first; proceed only if the all-in cost remains comfortably below the supported GDV range.

Strategy Rating

Analysis Confidence

Same-road completed sales and one advertised rental are available, but comparable bedroom details, property condition detail, refurbishment costs, resale costs, legal disbursements and passing-rent evidence are absent.