Ferndale, 3 Charles Street, Willenhall

Description

A semi detached property, standing back from the road behind a driveway and foregarden. The property benefits from double glazing, however it is in need of refurbishment.

Accommodation

Ground Floor: Hall, Two Reception Rooms, Kitchen, Understairs Cupboard. First Floor: Landing, Three Bedrooms, Bathroom/WC. Outside: Gardens and Driveway Parking.

Tenure / Property Information

Investment Analysis

The five supplied Charles Street semi-detached freehold comparables range from £90,500 to £208,500, with an arithmetic average of £144,200. The transactions are dated 2012–2021 and show substantial variation, while the subject is described as requiring refurbishment and has an EPC rating of F. A base GDV of £144,200 is therefore an indicative comparable-based estimate only, with a broad evidence range of £105,000–£208,500; no size, internal condition detail or current comparable evidence was supplied.

Investment Snapshot

Strategy Recommendation

Proceed only as a cautiously underwritten income investment, subject to inspection, tenancy/legal-pack review and a firm refurbishment quotation. Do not rely on the advertised market rents or the higher GDV scenario until independently verified.

Works Required

Refurbishment is required, but the supplied evidence does not specify the individual defects or scope. Any works budget should be confirmed by inspection and contractor quotations. The EPC F rating may also require attention, subject to the applicable requirements and property assessment.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR strategy cannot be reliably underwritten because no refurbishment cost, total project cost, legal-pack costs or finance costs are supplied. At a 75% loan-to-value refinance against the indicative £144,200 base GDV, the theoretical refinance amount would be £108,150, but the cash position cannot be calculated without a supported total cost and lender terms.

Buy-to-Let Analysis

The existing tenancy produces £75 per week, or £3,900 per annum (£325 pcm), equating to a 10.00% gross yield on the £39,000 guide price before the £2,700 administration charge, refurbishment, finance, tax and other costs. Supplied advertised asking rents for three-bedroom properties are £1,195–£1,250 pcm, but these are not achieved rents and may not reflect this property's condition. The tenancy terms, rent review position and achievable post-refurbishment rent require verification.

Flip Analysis

The indicative base GDV is £144,200, based on the average of the supplied comparables. A flip surplus cannot be established because refurbishment costs, acquisition costs beyond the stated administration charge, finance costs and selling costs are not fully supported. The property is also subject to the existing tenancy, which may affect vacant possession and resale timing.

Investor Risks & Due Diligence

• The property is described as requiring refurbishment, but no detailed scope or cost estimate is supplied.

• EPC rating F may require improvement, subject to applicable requirements and assessment.

• The existing passing rent is only £75 per week, materially below the supplied advertised asking rents; advertised rents are not achieved rents.

• The property is subject to the existing tenancy, and tenancy terms and vacant-possession position have not been supplied.

• Additional costs may be contained in the legal pack, while only the £2,700 administration charge is stated.

• The sold comparables range widely from £90,500 to £208,500 and are dated 2012–2021.

• Stamp duty, government taxes, finance, refurbishment and selling costs are excluded from the available calculations.

Recommendation

Proceed only as a cautiously underwritten income investment, subject to inspection, tenancy/legal-pack review and a firm refurbishment quotation. Do not rely on the advertised market rents or the higher GDV scenario until independently verified.

Strategy Rating

Analysis Confidence

The address, tenure, passing rent, guide price, administration charge and several local sold comparables are supplied, but refurbishment costs, property size, detailed condition, tenancy terms, legal-pack costs and current achieved rents are unavailable. The comparables are also dated and variable.