92 Meynell Street, Derby, Derbyshire

Description

Vacant freehold mid terrace house by order of a housing association. The vendor will not accept offers prior to auction. GIA approximately 68.74 sq m (740 sq ft).

Accommodation

Ground floor: two reception rooms, kitchen. First floor: two bedrooms, bathroom. Rear garden.

Location

Situated on the west side of Meynell Street. The shops and amenities of Pear Tree Road are to the north east. Peartree station is approximately 1.1 miles to the south east. The A5111 and Normanton Park are to the south west.

Tenure / Property Information

Investment Analysis

Comparable sales on Meynell Street range from £120,000 to £163,000 in 2024–2026, with older sales at £80,000–£85,000. On the limited evidence and without condition details, a cautious scenario range of £120,000–£163,000 is used, with a midpoint estimate of £135,000. The comparables may differ in condition, specification and timing.

Investment Snapshot

Strategy Recommendation

Potential BTL or BRRR purchase subject to a satisfactory inspection, verified rent and full auction-cost schedule. Do not rely on the guide price or GDV range without confirming condition and total costs.

Works Required

No specific defects or refurbishment requirements are evidenced. Inspection should establish the condition of the two reception rooms, kitchen, bathroom, bedrooms, services and garden before any works budget is set.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £135,000 base GDV, 75% refinance would be approximately £101,250. A BRRR assessment cannot be completed reliably because refurbishment costs, auction charges and the property's actual condition are unknown. The apparent guide-to-GDV margin should not be treated as available equity until those costs are established.

Buy-to-Let Analysis

At the £75,000 guide, the single advertised £950 pcm two-bedroom Derby rental listing implies £11,400 annual rent and a 15.2% gross yield before works, finance, voids, management and transaction costs. This is asking-rent evidence rather than achieved rent, and total-cost yield cannot be calculated because works and buyer or third-party charges are not supplied.

Flip Analysis

The comparable evidence suggests a possible resale value range of £120,000–£163,000, with £135,000 used as the base GDV. A flip surplus cannot be calculated because refurbishment, purchase-related charges and selling costs are not supplied.

Investor Risks & Due Diligence

• Property condition and required works are not evidenced.

• The £950 pcm figure is an advertised asking rent, not an achieved or passing rent.

• Buyer, administration, seller and third-party charges are not quantified.

• Comparable sale prices vary materially and may reflect different condition or specification.

• No EPC, council tax, heating or parking information is supplied.

Recommendation

Potential BTL or BRRR purchase subject to a satisfactory inspection, verified rent and full auction-cost schedule. Do not rely on the guide price or GDV range without confirming condition and total costs.

Strategy Rating

Analysis Confidence

There are several nearby completed sales and one advertised rental, but no condition survey, EPC, council tax, buyer/admin fees, passing rent or refurbishment information.