Apartment 403, 38 Upper Dean Street, Birmingham, West Midlands

Description

Leasehold fourth floor flat. One bedroom, reception room open plan to kitchen, bathroom/wc.

Accommodation

One bedroom, reception room open plan to kitchen, bathroom/wc

Location

The property is located on Upper Dean Street. Shopping amenities are available locally within Birmingham City Centre and at the Bullring Shopping Centre located to the north. Public transport links are available at Birmingham New Street Train Station lying to the north west and at Birmingham Moor Street Train Station located to the north, along with a network of local bus services serving the surrounding areas. The property is served by road links including the A38 lying to the west and the A4540 located to the east. Recreational pursuits are available at Highgate Park lying to the south.

Tenure / Property Information

Investment Analysis

Five completed sales at the same address range from £92,000 to £136,000 between June 2024 and November 2025. The evidence does not identify the comparable flat numbers, sizes, condition or lease terms, so it supports a broad value range rather than a precise valuation. A base GDV of £115,000 is used, reflecting the most recent £118,000 sale and the £115,000 June 2024 sale, with low and high scenarios based on the observed £92,000 and £136,000 sales.

Investment Snapshot

Strategy Recommendation

Potentially attractive as a BTL at the guide if the £925 pcm rent is achievable, but proceed only after confirming the lease, service charge, ground rent, condition and all completion fees. Do not rely on the £2,250 pcm listing without verification.

Works Required

No refurbishment works are evidenced. Confirm condition, fixtures, common parts and any compliance requirements before bidding; the analysis excludes a works allowance.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the guide and with no evidenced works allowance, the analysed cost is £65,800 including the £1,800 contract documentation fee. A 75% refinance against the £115,000 base GDV would be £86,250, indicating approximately £20,450 of surplus before finance, tax and other transaction costs. This is highly dependent on the actual valuation, lease terms, lender requirements and unknown building charges.

Buy-to-Let Analysis

Using the lower advertised rent of £925 pcm, annual rent is £11,100 and gross yield is approximately 17.34% on the £64,000 guide, or 16.87% on the £65,800 purchase-plus-known-admin-cost basis. The second advertised rent of £2,250 pcm implies approximately 42.19% on the guide, but the large discrepancy means rent should be independently verified. Service charge, ground rent, lease length and any seller fees are unknown, so net yield cannot be established.

Flip Analysis

The base GDV of £115,000 exceeds the £65,800 guide-plus-known-admin-cost basis by £49,200 before finance, tax, selling costs and any works. No supported selling allowance or refurbishment cost is available, so a reliable flip surplus and maximum bid cannot be calculated.

Investor Risks & Due Diligence

• Lease length, annual ground rent, review provisions and service charge are not supplied.

• The two advertised one-bedroom rents range from £925 pcm to £2,250 pcm and are asking rents rather than achieved rents.

• Possible seller fees under the Special Conditions of Sale are unknown.

• No condition or refurbishment information is provided, so works and compliance costs cannot be estimated.

• Comparable sales at the same address range from £92,000 to £136,000 and may relate to different flats, sizes, condition or lease terms.

• Parking and heating arrangements are unconfirmed.

Recommendation

Potentially attractive as a BTL at the guide if the £925 pcm rent is achievable, but proceed only after confirming the lease, service charge, ground rent, condition and all completion fees. Do not rely on the £2,250 pcm listing without verification.

Strategy Rating

Analysis Confidence

Same-address completed sales provide useful value evidence, but comparable flat details are incomplete. Rental evidence is materially inconsistent, while lease length, service charge, ground rent, condition, parking, heating and possible seller fees remain unknown.