68 Dora Street, Walsall, WS2 9AW

Description

A vacant freehold end terraced property standing back from the road behind a foregarden. The property benefits from a gas fired central heating system and double glazing, however it is in need of modernisation.

Accommodation

Ground Floor: Two Reception Rooms, Kitchen. First Floor: Landing, Three Bedrooms, Shower Room/WC. Outside: Rear Garden.

Location

Standing back from the road behind a foregarden.

Tenure / Property Information

Investment Analysis

Sold evidence on Dora Street ranges from £105,000 to £157,000, including £157,000 for 64 Dora Street in April 2024. A provisional base GDV of £145,000 is adopted, with a supported evidence range of £130,000 to £157,000. The subject requires modernisation, but the comparables' condition and accommodation are not provided, so this is indicative only.

Investment Snapshot

Strategy Recommendation

Treat as a conditional value-add opportunity only. Bid conservatively and proceed only after confirming the legal pack, inspecting the modernisation requirement and establishing a firm works budget; the current evidence is insufficient to support a firm maximum bid.

Works Required

Modernisation of the property, with the precise scope to be confirmed by inspection and the legal pack. The supplied description confirms central heating, double glazing and a need for modernisation, but does not identify specific defects or provide a works budget.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £105,000 guide, the provisional £145,000 GDV implies a 75% refinance figure of £108,750. However, refurbishment costs, acquisition costs beyond the £2,700 administration charge, finance costs and the final purchase price are unknown, so cash left in and project viability cannot be reliably calculated.

Buy-to-Let Analysis

The supplied advertised asking rents range from £995 to £2,000 pcm, producing an indicative gross yield on the £105,000 guide of approximately 11.37% to 22.86%. The evidence is inconsistent and represents asking rents rather than achieved or passing rent, so a reliable BTL yield cannot be established. Works, finance, tax, insurance, maintenance and void costs are not quantified.

Flip Analysis

The provisional GDV range is £130,000 to £157,000, based on supplied Dora Street sales. A flip surplus cannot be calculated because no refurbishment budget, final purchase price, additional auction costs or supported selling allowance is provided.

Investor Risks & Due Diligence

• The property is stated to require modernisation, but no inspection-based scope or cost estimate is supplied.

• The rental evidence is widely divergent at £995 pcm and £2,000 pcm and consists only of advertised asking rents.

• The £105,000 figure is an auction guide price and the final purchase price may be higher.

• A £2,700 administration charge is payable, while additional legal-pack costs are unknown.

• EPC information is only stated to be in the legal pack, and further special-condition costs may apply.

Recommendation

Treat as a conditional value-add opportunity only. Bid conservatively and proceed only after confirming the legal pack, inspecting the modernisation requirement and establishing a firm works budget; the current evidence is insufficient to support a firm maximum bid.

Strategy Rating

Analysis Confidence

Several relevant local sold comparables and two advertised rent points are supplied, but condition-adjusted comparability, EPC details, refurbishment costs, final purchase price, additional legal-pack costs and achieved rental evidence are unavailable.