98 Glyn Avenue, Bilston, West Midlands WV14 8NN

Description

A vacant extended three-bedroom end-of-terrace house requiring refurbishment, with two reception rooms, utility room and kitchen on the ground floor and three bedrooms with bathroom above. The property has a rear garden and potential for further rear extension subject to consent. Freehold.

Location

Glyn Avenue is in Bilston/Moxley, close to local amenities, Moorcroft Nature Reserve, Midland Metro stops and Coseley rail station.

Investment Analysis

Investment Snapshot

Property & Refurbishment

I would initially allow £25,000–£40,000 for the works indicated by the listing, investor-grade finishing and contingency. This is an HB/AI feasibility allowance rather than a contractor quotation and should be replaced by survey and itemised trade pricing before bidding.

Rental Analysis

For sensitivity testing I would use an HB market-rent estimate of £850–£950 pcm. This equates to approximately £10,200–£11,400 per annum and 14.6%–16.3% gross on the guide. At midpoint rent and works, gross yield on guide plus works is about 10.5% before finance, management, maintenance, insurance, compliance, voids and tax.

GDV / Resale Analysis

For feasibility I would use an indicative £145,000–£175,000 completed-value range. This is an AI-assisted investment appraisal estimate and not a formal RICS valuation. Using midpoint assumptions gives an estimated completed value of about £160,000 against guide-plus-midpoint-works of approximately £102,500.

Properties Sold Within Approx. 5 Miles

No sufficiently specific sold comparables were independently verified in this market check. The GDV should therefore be confirmed against recent Land Registry/RICS evidence before bidding.

Potential BRRR Position

At the midpoint GDV of approximately £160,000, a purely illustrative 75% LTV refinance would be around £120,000. Against guide plus midpoint works of approximately £102,500, this should be viewed only as a sensitivity test; lender valuation, construction, lease length, rental stress tests and borrower criteria determine the actual refinance.

Flip Analysis

A resale strategy should be tested against the conservative end of the £145,000–£175,000 GDV range and must deduct acquisition tax, the £1,800 auction administration charge, legal fees, finance, holding costs, refurbishment, contingency and selling costs. Headline uplift is not the same as net profit.

Investor Risks & Due Diligence

• Check the legal pack, title and all additional disbursements.




• Obtain a full building survey and contractor quotations.




• Verify achievable rent against current completed lettings.




• Verify GDV against recent like-for-like sold evidence.

Recommendation

Preferred strategy: BRRR / Buy-to-Let. The final decision should be based on verified works costs, rent, legal position and comparable-supported end value rather than guide price alone.

Strategy Rating

BRRR: ★★★★★

Buy-to-Let: ★★★★★

Flip: ★★★★☆

Development: ★★★☆☆