Springfield Avenue, Hereford, Herefordshire, HR2 7JJ

Description

1 bed ground floor flat in need of modernisation with garden area, within commuting distance of the city of Hereford. No chain.

Accommodation

Entrance: UPVC door to hallway. Hallway: access to storage cupboard and radiator. Kitchen: 2.6m x 1.7m, fitted wall and base units incorporating stainless steel sink with drainer, space and plumbing for appliances. Bedroom: 3.1m x 3.3m, radiator. Living room: 3.4m x 3.4m, gas fire and radiator. Bathroom: white suite, shower, W.C., hand basin and radiator. Outside: pedestrian gate to shared front garden with path to side and rear, garden area and detached brick garden shed.

Location

City location in Hereford, within commuting distance of the city of Hereford.

Tenure / Property Information

Tenure	Leasehold
Occupancy	Vacant possession
EPC	Energy Rating D
Council Tax	Band A (2025–2026)
Heating	Gas fire and radiators
Services	Mains water, electric and drainage are understood from the vendor to be connected to the property.

Investment Analysis

Comparable leasehold flats on Springfield Avenue sold for £79,000–£100,000 between 2017 and 2021, with the latest supplied sale at £100,000 in August 2021. The evidence is dated and does not confirm identical condition, size or lease terms. A base GDV of £100,000 is used, with a low scenario at £79,000 and high scenario at £100,000. The £850 pcm figure is an advertised asking rent, not an achieved rent.

Investment Snapshot

Guide Price	£49,000; auction guide price £50,000–£80,000
HB Estimated GDV	£100,000
Estimated Monthly Rent	£850 pcm
Estimated Annual Rent	£10,200 pa
Gross Yield on Guide	20.8%

Strategy Recommendation

Conditional BTL or BRRR assessment only after confirming the lease, service charges, ground rent, refurbishment scope and achieved local rents. Do not rely on the headline guide yield alone.

Works Required

Modernisation of the kitchen, bathroom and general internal finishes, subject to inspection. No specific defects or detailed specification are evidenced, so refurbishment costs cannot be estimated reliably.

Rental & Market Context

HB Estimated Market Rent

£850 pcm

Pcm Meaning Rent: Monthly Cost in Rental Listings — — Advertised asking rent

£850 pcm

Sold Comparables

The following completed sales were identified within approximately 5 miles:

15, Springfield Avenue, Hereford, Herefordshire, Hr2 7jj 2021-08-05 · Flat/Maisonette · Leasehold	£100,000
35, Springfield Avenue, Hereford, Herefordshire, Hr2 7jj 2018-01-31 · Flat/Maisonette · Leasehold	£82,000
59, Springfield Avenue, Hereford, Herefordshire, Hr2 7jj 2017-11-24 · Flat/Maisonette · Leasehold	£79,000
35, Springfield Avenue, Hereford, Hereford, Herefordshire, Hr2 7jj 2008-06-06 · Flat/Maisonette · Leasehold	£81,000
15, Springfield Avenue, Hereford, Hereford, Herefordshire, Hr2 7jj 2006-08-25 · Flat/Maisonette · Leasehold	£87,000

Potential BRRR Position

Base GDV	£100,000
75% Refinance	£75,000

A 75% refinance against the base GDV would indicate £75,000 of gross borrowing. However, total acquisition and refurbishment cost cannot be calculated because works, leasehold charges and buyer costs are not evidenced. The strategy therefore cannot be confirmed without a survey, lease review and verified rental evidence.

Buy-to-Let Analysis

At the £49,000 guide, the advertised £850 pcm rent equates to an indicative gross yield of 20.82% before refurbishment, finance, service charge, ground rent, management, maintenance and voids. The rent is only an asking figure, and leasehold costs and terms are not supplied, so sustainable net yield cannot be established.

Flip Analysis

The latest supplied comparable supports a potential resale benchmark of £100,000, but the sales evidence is dated and refurbishment costs, selling costs and acquisition costs are unavailable. A reliable flip surplus and maximum bid cannot therefore be calculated.

Investor Risks & Due Diligence

• The flat is described as needing modernisation, but the scope and cost of works are not provided.

• Lease length, ground rent, service charge and other leasehold obligations are not supplied.

• The £850 pcm figure is an advertised asking rent rather than achieved rent.

• The completed sales evidence is dated, with the latest supplied transaction in August 2021.

• Buyer premiums, administration charges and other acquisition costs are not supplied.

• Parking provision is not evidenced.

Recommendation

Conditional BTL or BRRR assessment only after confirming the lease, service charges, ground rent, refurbishment scope and achieved local rents. Do not rely on the headline guide yield alone.

Strategy Rating

HB Rating

★★★☆☆

Analysis Confidence

Confidence

Low-Medium

There are relevant same-street completed sales and one advertised rental, but the comparables are dated, the property requires modernisation, and lease terms, recurring charges, refurbishment costs and buyer fees are missing.