68 Glencoe Street, Hull

Description

An End of Terrace House requiring modernisation with accommodation arranged on two floors.

Accommodation

First Floor: Bedroom (One), Bedroom (Two), Bedroom (Three), Bathroom/WC. Ground Floor: Entrance Hall, Through Reception Room, Kitchen, Utility Room, Shower/WC. Courtyard Garden at Rear.

Location

Situated in a cul-de-sac off Anlaby Road, close to the amenities available in Hull City Centre and travelling facilities including Hull Train Station. MKM Stadium and Pickering Park are also nearby.

Tenure / Property Information

Investment Analysis

Five HM Land Registry comparables on Glencoe Street sold for £83,000–£135,000 between September 2022 and August 2023. Four sales were between £83,000 and £100,000; the £135,000 sale is a higher outlier. Given the subject requires modernisation, a cautious evidence-based scenario is £83,000 low, £92,000 base and £100,000 high. The comparables are not confirmed identical in size, condition or specification.

Investment Snapshot

Strategy Recommendation

Do not bid solely on the guide price. Proceed only after inspection and confirmation of the modernisation scope, costs and achievable rent; otherwise the evidence is insufficient to underwrite a BTL, BRRR or flip.

Works Required

Modernisation of the two-storey house, including review and upgrading of the kitchen, bathroom/WC facilities, decoration and finishes as required. The evidence does not identify specific defects or provide a refurbishment scope, so no cost allowance can be supported.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the base GDV of £92,000, a 75% refinance amount would be £69,000. Cash left in cannot be calculated because refurbishment costs and the full acquisition cost are unsupported. The strategy requires confirmed works, rent and finance assumptions.

Buy-to-Let Analysis

The property is vacant and has three bedrooms, but no sufficiently specific rental comparable or auctioneer rent estimate is supplied. Rent and gross yield cannot therefore be established. Modernisation costs are also unknown.

Flip Analysis

The sold comparables support a broad resale value range of £83,000–£100,000 for a cautious base-case analysis, with £135,000 treated as an outlier. A flip surplus cannot be calculated because refurbishment costs, total acquisition cost and selling costs are not supplied.

Investor Risks & Due Diligence

• The property is described as requiring modernisation, but the extent and cost of works are unknown.

• No sufficiently specific rental evidence or auctioneer rent estimate is available.

• The comparable sales range is wide and the evidence does not confirm matching condition, size or specification.

• Additional seller fees may be payable if stated in the special conditions of sale.

• The £135,000 comparable is materially above the other supplied sales and may not be representative.

Recommendation

Do not bid solely on the guide price. Proceed only after inspection and confirmation of the modernisation scope, costs and achievable rent; otherwise the evidence is insufficient to underwrite a BTL, BRRR or flip.

Strategy Rating

Analysis Confidence

There are several nearby completed sales and a stated base GDV scenario, but no property-specific inspection detail, refurbishment cost, rental evidence, selling costs or full special-condition fee information.