Hollis Morgan Auctions says ..

Property Oracle says ..

This property on Rainbow Street, Bilston, is a large detached building of approximately 4494 square feet, currently listed for £332,000 at auction. The images show a brick structure with a sizeable parking area but minimal landscaping or garden space. Internally, the property requires a substantial amount of updating and refurbishment. The flooring, walls and possibly the kitchen and bathrooms will need significant work before the house is habitable. The lack of internal photos of some rooms makes a precise assessment of required works challenging.

The location offers access to Coseley train station, providing relatively convenient access to other parts of the West Midlands. Several schools are within reasonable proximity, some having received ‘Good’ Ofsted ratings. The surrounding area has a mix of housing types; however, it is important to carry out further investigation into the surrounding area for those planning to live in the house or have children in local schools. The area around Rainbow Street appears fairly residential.

The price of £332,000 appears relatively high considering the need for substantial refurbishment and the comparatively lower prices of other nearby properties. The property’s large size is a positive aspect, but the condition and lack of garden should be carefully factored into a realistic valuation. Potential buyers should budget for a complete internal renovation. The fact it is being sold at auction suggests that it might be suitable for refurbishment or development, meaning the potential buyer should be an experienced investor who understands the risks and rewards associated with properties at auction. A thorough survey is crucial before making any offer.

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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