Number 656 City Road, Sheffield, South Yorkshire, S2 1GH

Description

A spacious four bedroom terraced property situated on City Road Sheffield S2. The property is in need of renovation throughout, offering an opportunity for buyers to add value and create a home to their own specification. Subject to the necessary planning permissions and licensing requirements, the property could also make an excellent HMO investment, with its generous accommodation and four double bedrooms. The basement has experienced slight flooding.

Accommodation

Internally, the property briefly comprises a spacious bay fronted lounge, separate dining room, and a fitted kitchen. To the first floor, there are three well proportioned double bedrooms and a separate WC. The second floor provides a further double bedroom together with a family sized bathroom. The property also benefits from a cellar, providing useful additional storage space and a separate WC.

Location

The property is conveniently located close to a range of local amenities, including schools, shops, takeaways, parks, and regular public transport services.

Tenure / Property Information

Investment Analysis

The closest available evidence is a completed sale of 670 City Road, Sheffield S2 1GH, at £117,000 in November 2023. Older same-road sales range from £80,000 to £95,000 between 2014 and 2018. A provisional base GDV of £117,000 is used as the latest available local benchmark, but this is not a formal valuation and the subject requires renovation throughout. A lower evidence-based scenario of £95,000 is used; no supported evidence exists above £117,000.

Investment Snapshot

Strategy Recommendation

Do not bid without inspecting the renovation scope and basement flooding, reviewing the legal pack and confirming whether the intended use is a standard residential resale or a permitted/licensed HMO.

Works Required

Renovation throughout is required, with the precise scope and cost to be confirmed by inspection. The slight basement flooding should be investigated and addressed as appropriate. Any HMO conversion would be subject to planning permissions and licensing requirements.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed reliably because refurbishment costs, rent, tenure and full acquisition costs are unavailable. Using the provisional £117,000 GDV, 75% refinance is £87,750, before allowing for works, fees, finance and tax.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental comparables or auctioneer rent estimate were supplied. The potential HMO use is only described as subject to planning and licensing requirements, so no HMO income has been assumed.

Flip Analysis

The latest same-road completed sale provides a provisional £117,000 resale benchmark, but refurbishment costs, selling costs and the subject's post-works condition are unknown. A flip surplus cannot therefore be calculated.

Investor Risks & Due Diligence

• The property is stated to require renovation throughout, but no works specification or cost estimate is supplied.

• The basement has experienced slight flooding and the cause, extent and remediation requirements are unknown.

• HMO use is not established and would be subject to necessary planning permissions and licensing requirements.

• Tenure and legal details are stated to be in the legal pack but have not been supplied.

• Special Conditions of Sale may include additional search, legal, transfer, seller-cost reimbursement and other charges.

• No sufficiently specific rental evidence is available, preventing reliable yield analysis.

Recommendation

Do not bid without inspecting the renovation scope and basement flooding, reviewing the legal pack and confirming whether the intended use is a standard residential resale or a permitted/licensed HMO.

Strategy Rating

Analysis Confidence

There is useful same-road sold-price evidence and a known auction guide/admin charge, but no refurbishment quotations, rental evidence, tenure details, full fees, planning information or confirmed condition beyond the brief description.