88 Dryden Road, Tamworth, Tamworth, Staffordshire, B79 8HP

Description

Auction House Birmingham are proud to present this two-bedroom terraced house for sale. Requiring some improvement, the property presents an opportunity for investors seeking their next project, with scope to update the accommodation and explore its potential as a future addition to a rental portfolio. Residential purchasers may also appreciate the opportunity to put their own stamp on a home. Internal inspection is highly recommended.

Accommodation

Lounge/Diner: 5.04m x 4.22m; Kitchen: 2.12m x 4.23m; Bedroom 1: 2.59m x 4.25m; Bedroom 2: 3.39m x 2.16m; Bathroom: 2.17m x 2.00m

Location

Tamworth offers shopping, dining and leisure options, including Ankerside Shopping Centre and the historic Castle Grounds. Tamworth railway station offers services towards Birmingham and London. Bus services connect the town with Lichfield, Sutton Coldfield and Birmingham.

Tenure / Property Information

Investment Analysis

Nearby same-road leasehold terraced sales range from £153,000 to £180,000. The latest supplied comparable is 94 Dryden Road at £165,500 in January 2024; this is used as the base GDV, with £153,000 low and £180,000 high scenarios. The comparables are not the subject property and do not establish its condition or exact specification.

Investment Snapshot

Strategy Recommendation

Proceed only subject to internal inspection, legal-pack review and a detailed works quotation. The property may suit an owner-occupier or refurbishment-led resale, but BTL and BRRR decisions should wait for reliable rent and cost evidence.

Works Required

Inspect and update the accommodation as required, consistent with the description that the property requires some improvement. No specific defects, scope of works or cost evidence is supplied, so a detailed refurbishment schedule cannot be established.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A potential BRRR route exists based on the £100,000 guide and an estimated base GDV of £165,500, implying a 75% GDV refinance figure of £124,125. However, total project cost and cash left in cannot be calculated because works, finance, tax and possible disbursements are not supplied.

Buy-to-Let Analysis

BTL viability cannot be quantified because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. The guide is £100,000, but refurbishment costs, ongoing costs and any legal-pack disbursements remain unquantified.

Flip Analysis

The supplied same-road sales support a potential resale value range of £153,000 to £180,000, with a £165,500 base case. A flip surplus cannot be calculated because refurbishment costs and a supported selling-cost allowance are unavailable.

Investor Risks & Due Diligence

• The property is described as requiring some improvement, but the actual condition and works scope are unknown without inspection.

• No sufficiently specific rental evidence is supplied, so rental yield cannot be established.

• Auction buyer premium and admin charge total £3,540 including VAT, while further legal-pack disbursements or other charges may also become payable.

• The GDV scenarios rely on nearby same-road comparables rather than completed sales of the subject property.

• EPC, heating and parking information are not supplied.

• The property is leasehold, although the supplied lease term is long at approximately 963 years unexpired.

Recommendation

Proceed only subject to internal inspection, legal-pack review and a detailed works quotation. The property may suit an owner-occupier or refurbishment-led resale, but BTL and BRRR decisions should wait for reliable rent and cost evidence.

Strategy Rating

Analysis Confidence

There are several relevant same-road completed sales and clear lease information, but condition, refurbishment costs, rent, EPC, heating, parking, finance costs and possible disbursements are not supplied.