Hall & Benson says ..

Property Oracle says ..

This two-bedroom terraced house located on Moor Street in Spondon, Derby, presents itself as a significant fixer-upper. The property’s condition is a major concern; visible mold and dampness in several rooms indicate potential structural problems that will require substantial investment to rectify. This could include not only cosmetic work but also potentially expensive repairs to address dampness, which could affect the building’s structural integrity. Beyond the cosmetic repairs, the property also needs a full internal refurbishment. This will require new flooring, full decorating, and the likely replacement of kitchens and bathrooms.

The location, however, is a positive aspect. Spondon is a desirable residential area with access to local shops and schools and relatively easy transport links to Derby city centre and beyond. The proximity to several primary schools is a particular plus for families.

Despite the low cost of entry to the property market, the substantial costs associated with the necessary renovations must be factored in. Potential buyers should undertake a thorough survey to ascertain the extent of the required work and obtain accurate costings before committing to a purchase. The lack of information on the exact square footage of the property, and the plot size, makes it harder to definitively assess the price-to-size ratio relative to similar properties in the area. If the square footage is relatively small, the price may even be on the higher end of the spectrum.

Overall, the property presents itself as a significant undertaking, suitable for those with experience in property renovation and a keen eye for the potential of a property. Investors should be aware that returns are not guaranteed, especially given the extent of the necessary work.

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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