74 Jessel Road, Walsall

Description

A mid terraced property standing flush to the pavement. The property benefits from having gas central heating and double glazing however it is in need of modernisation.

Accommodation

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

Location

Walsall

Tenure / Property Information

Investment Analysis

The same-road sold evidence ranges from £80,000 to £145,000. The latest comparable, 42 Jessel Road, sold for £145,000 in April 2024, while 70 Jessel Road sold for £96,500 in October 2022. Given the property's stated need for modernisation and the absence of detailed condition evidence, a provisional HB GDV range of £96,500–£145,000 is used, with a base estimate of £120,000. This is an estimate rather than a formal valuation.

Investment Snapshot

Strategy Recommendation

Proceed only after confirming the refurbishment scope, costs and legal-pack obligations. The property may suit a BTL or value-add strategy at the guide, but the broad rental evidence and unknown works make the deal unsuitable for an unconditional bid based on current information.

Works Required

Modernisation of the existing two-bedroom house is indicated, but the evidence does not specify the required works, condition defects or costs. Scope should be confirmed through inspection and the legal pack before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the provisional £120,000 base GDV, 75% refinance is approximately £90,000. A BRRR assessment cannot establish cash left in or equity because refurbishment costs, finance costs and any additional completion costs are not supplied. The £2,700 administration charge is known but insufficient to complete the project-cost calculation.

Buy-to-Let Analysis

Advertised rental evidence ranges from £398 to £925 pcm, with two listings at £900–£925 pcm. Based on the full supplied range, gross yield on the £82,000 guide is approximately 5.8%–13.5%, before the £2,700 administration charge, refurbishment, finance, tax and other costs. The rental evidence is asking-rent data rather than achieved rent, and the wide range prevents a reliable single-rent assessment.

Flip Analysis

The provisional base GDV is £120,000, supported by same-road sales ranging from £96,500 to £145,000. Flip surplus cannot be calculated because refurbishment costs, finance costs, acquisition taxes and selling costs are not evidenced. The stated need for modernisation creates material margin uncertainty.

Investor Risks & Due Diligence

• The property is stated to need modernisation, but the scope and cost of works are unknown.

• Additional costs may be contained in the legal pack and are not supplied.

• Rental evidence consists of advertised asking rents, with a wide range from £398 to £925 pcm.

• Sold comparables vary materially from £80,000 to £145,000 and may not reflect the subject property's condition.

• Stamp duty, finance, tax and selling costs are not supplied and cannot be included in the project calculations.

Recommendation

Proceed only after confirming the refurbishment scope, costs and legal-pack obligations. The property may suit a BTL or value-add strategy at the guide, but the broad rental evidence and unknown works make the deal unsuitable for an unconditional bid based on current information.

Strategy Rating

Analysis Confidence

There are several same-road sold comparables and rental listings, but condition, refurbishment costs, achieved rent, finance costs and additional legal-pack charges are not provided. The comparable sales also show substantial price variation.