7 Bed HMO, Derby, DE22 3LD £280,000

Rowdich Avenue, Derby, DE22 3LD - 16 views - 8 months ago
Sold STC
Auction
HMO
ROI: 11%
~217 m²
Property image

ValuationUndervalued

Sold Prices£100K - £514K
Sold Prices/m²£658/m² - £3.4K/m²

 

 

Square Metres

~217 m²
Price/m²£1.3K/m²

Value Estimate

£336,000
BMV20%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£70,000

Stamp Duty & Legal Fees

£19,200

Total Cash In

£89,200

 

 

Cash Out

 

Room Rate

£438

Gross Rent

£3,066

Running Costs/mo

£2,252

Cashflow/mo

£814

Cashflow/yr

£9,768

ROI

11%

Gross Yield

13%

Local Sold Prices

50 sold prices from £100K to £514K, average is £272.5K. £658/m² to £3.4K/m², average is £2.1K/m².

Price
Date
Distance
Address
Beds
 
£220K05/210.13 mi24, Trowels Lane, Derby, City Of Derby DE22 3LS4
£285K08/210.24 mi7, Albany Road, Derby, City Of Derby DE22 3LW4
£267.5K10/210.26 mi176, St Albans Road, Derby, Derbyshire DE22 3JQ4
£210K03/250.29 mi405, Uttoxeter New Road, Derby DE22 3HY4
£340K03/250.3 mi1, St Swithins Close, Derby DE22 3LG4
£134K12/240.37 mi7, Jay Court, Derby, City Of Derby DE22 3SR4
£168K01/250.37 mi12, Olive Street, Derby DE22 3RH4
£300K03/230.45 mi22, Somerset Close, Derby, City Of Derby DE22 3XP4
£122.5K07/210.46 mi8, Lynton Street, Derby, City Of Derby DE22 3RU4
£174K03/230.47 mi25, Hawke Street, Derby, City Of Derby DE22 3DQ4
£295K05/250.47 mi5, Caithness Crescent, Derby DE22 3XS4
£295K05/250.47 mi5, Caithness Crescent, Derby DE22 3XS4
£187.5K10/210.58 mi17, Cobden Street, Derby, City Of Derby DE22 3GX4
£275K08/230.61 mi40, Slater Avenue, Derby DE1 1GT4
£275K08/230.61 mi40, Slater Avenue, Derby DE1 1GT4
£176K02/230.61 mi97, Wolfa Street, Derby, City Of Derby DE22 3SE4
£310K02/230.61 mi41, Whitaker Road, Derby, City Of Derby DE23 6AR4
£275K08/230.62 mi40, Slater Avenue, Derby, City Of Derby DE1 1GT4
£355K02/230.63 mi44, Carlton Road, Derby, City Of Derby DE23 6HA4
£120K06/210.65 mi70, Peel Street, Derby, City Of Derby DE22 3GH4
£220K10/210.65 mi14, Vicarage Avenue, Derby, City Of Derby DE23 6TP4
£185K04/250.68 mi17, Wolfa Street, Derby DE22 3SE4
£185K04/250.68 mi17, Wolfa Street, Derby DE22 3SE4
£270K09/210.71 mi27, Breedon Hill Road, Derby, City Of Derby DE23 6TH4
£287K11/220.71 mi9, Overdale Road, Derby, City Of Derby DE23 6AU4
£268K12/220.71 mi79, Overdale Road, Derby, City Of Derby DE23 6AU4
£320K10/210.72 mi8, South Avenue, Littleover, Derby, City Of Derby DE23 6BA4
£133K03/250.74 mi82, Empress Road, Derby DE23 6TE4
£295K03/250.74 mi37, Brackensdale Avenue, Derby DE22 4AF4
£514K05/250.74 mi2, Scarsdale Avenue, Littleover, Derby DE23 6ER4
£514K05/250.74 mi2, Scarsdale Avenue, Littleover, Derby DE23 6ER4
£224K06/210.74 mi72, Empress Road, Derby, City Of Derby DE23 6TE4
£380K02/250.75 mi27, Lawn Heads Avenue, Littleover, Derby, City Of Derby DE23 6DR4
£450K03/230.75 mi1, Lawn Heads Avenue, Littleover, Derby, City Of Derby DE23 6DR4
£170K06/230.76 mi42, Markeaton Street, Derby, City Of Derby DE1 1DW4
£155K12/230.77 mi24, Markeaton Street, Derby DE1 1DW4
£155K12/230.77 mi24, Markeaton Street, Derby DE1 1DW4
£165K11/240.79 mi23, St Chads Road, Derby DE23 6RR4
£153K08/210.8 mi122, Stonehill Road, Derby, City Of Derby DE23 6TL4
£100K07/210.84 mi42, Howard Street, Derby, City Of Derby DE23 6TX4
£355K05/230.86 mi60, Brackensdale Avenue, Derby, City Of Derby DE22 4AE4
£200K06/210.89 mi561, Burton Road, Derby, City Of Derby DE23 6FW4
£317.5K04/250.89 mi19, Lilac Avenue, Derby DE22 4AS4
£317.5K04/250.89 mi19, Lilac Avenue, Derby DE22 4AS4
£109K06/210.92 mi82, Walthamstow Drive, Derby, City Of Derby DE22 4BR4
£480K03/250.96 mi7, Glebe Rise, Derby DE23 6GX4
£320K11/220.96 mi4, Heron Way, Mickleover, Derby, City Of Derby DE3 9XA4
£295K04/230.98 mi33, Leopold Street, Derby, City Of Derby DE1 2HF4
£295K04/230.99 mi33, Leopold Street, Derby DE1 2HF4
£295K04/230.99 mi33, Leopold Street, Derby DE1 2HF4

Local Area Statistics

Population in DE22

46,001

Population in Derby

308,324

Town centre distance

1.09 miles away

Nearest school

0.10 miles away

Nearest train station

1.53 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+30%

Sales demand

Seller's market

Capital growth (5yrs)

+24%

Property History

Price changed to £280,000

March 16, 2025

Listed for £300,000

February 27, 2025

Floor Plans

Property image

Description

  • For sale by modern method of auction +
  • Newly refurbished +
  • Seven bedroom property +
  • Close to City Centre +
  • Ideal addition to landlords portfolio +
  • Freehold +
  • Gas central heating +
  • Council tax band +
  • Viewing recommended +
  • Off road parking +

THE PROPERTY New to the market is this newly refurbished, 7 bedroom home (including ground floor accommodation) close to Derby City Centre. The property has potential to be utilised as a HMO (subject to relevant licensing) and spans over 1700sqft.
Three of the rooms benefit from ensuite facility and there are also two more shared bathrooms and a WC.

The property has recently undergone refurbishment inside and would only require some minor works to complete.
To the rear is a low maintenance garden mainly laid to lawn and a small outbuilding. To the front is a paved driveway which could fit three cars.

The property is offered for sale with no onward chain and comes with vacant possession.

Room 1 - 3.38 x 3.16
Room 2 - 4.04 x 3.38
Room 3 - 4.22 x 3.50 + Ensuite
Room 4 - 3.42 x 3.16
Room 5 - 4.04 x 3.42 + Ensuite
Room 6 - 3.10 x 2.76
Room 7- 4.44 x 3.10 + Ensuite

This property is for sale by Martin & Co Derby powered by iamsold Ltd.

The property is for sale by Modern Method of Auction. Should you view, offer or bid on the property, your information will be shared with the Auctioneer, iamsold Limited.

This method of auction requires both parties to complete the transaction within 56 days of the draft contract for sale being received by the buyers solicitor. This additional time allows buyers to proceed with mortgage finance.

The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee. This being 4.5% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. The Reservation Fee is paid in addition to the purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability. Buyers will be required to go through an identification verification process with iamsold and provide proof of how the purchase would be funded.

The property has a Buyer Information Pack which is a collection of documents in relation to the property. The documents may not tell you everything you need to know about the property, so you are required to complete your own due diligence before bidding. A sample copy of the Reservation Agreement and terms and conditions are also contained within this pack. The buyer will also make payment of £300.00 including VAT towards the preparation cost of the pack, where it has been provided by iamsold.

The property is subject to an undisclosed Reserve Price with both the Reserve Price and Starting Bid being subject to change.

Agent Details

Martin & Co, Derby

01332 215579

Next Steps?

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