Wigwam Homes says ..

Property Oracle says ..

This one-bedroom property in Hull, located on Coltman Street in the St Andrew’s & Docklands area, presents a mixed bag. The listing price is relatively low at £40,000, and the proximity to schools and transport links could be attractive to some buyers. However, the property’s condition is far from perfect. The images reveal clear signs of wear and tear throughout—marked walls, outdated fixtures, and a generally tired aesthetic. The tiny backyard offers minimal usable outdoor space. Potential buyers should anticipate significant renovation costs to bring the property up to a modern standard. While the price might seem appealing initially, the substantial renovation work needed makes this a property that should only be considered by buyers who are comfortable undertaking a substantial refurbishment project and are aware of potential unforeseen costs associated with older properties. Comparing this property to other recent sales in the area, such as the similar one-bedroom flat on Beech Close, also priced at around £40,000, and the various others nearby, suggests the property is priced reasonably for its type. Nevertheless, the condition will significantly increase the overall financial burden for any prospective buyer. Therefore, careful consideration is advised for any buyers, focusing on their budget, DIY abilities and renovation experience. Investors seeking a project with potential returns should carefully assess the costs of refurbishment against potential rental income before making any investment decisions.

Therefore, we give this property 4 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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