Auction House says ..

Property Oracle says ..

The property at 118 Flag Lane is a three-bedroom end of terrace house listed for £15,000. Given its condition and location, this price point requires careful consideration.

The property is situated in Crewe West, Cheshire. The area benefits from relatively close proximity to several schools, including Edleston Primary School (rated ‘Good’ by Ofsted), Ruskin Community High School (‘Good’), Adelaide School (‘Outstanding’), and Beechwood Primary School and Nursery (‘Good’). Crewe railway station is also within reasonable distance, providing convenient access to various destinations. This suggests a reasonably convenient location, although further investigation into the immediate neighbourhood’s amenities and safety would be beneficial.

However, the images reveal that the property is in extremely poor condition. It requires extensive renovation work throughout. The interior is largely stripped back to brickwork, with damaged flooring, walls, and ceilings. There is significant evidence of disrepair and potential water damage. The exterior, while showing a small garden area, also demonstrates a need for significant maintenance and repair. The overall state of the property indicates a substantial investment would be required to bring it up to a habitable standard.

The lack of plot size and square footage data in the listing makes it difficult to assess the land value and overall value per square foot. However, comparing the list price of £15,000 to the average house price in the area of £200,302 and the average price per sqft of £202, it is clear that the property is significantly underpriced. This is likely due to its extremely poor condition, necessitating substantial renovation costs. A potential buyer must carefully weigh the cost of renovation against the potential future value of the property.

In summary, while the location offers some advantages in terms of schools and transport links, the property’s severely dilapidated condition is a major factor affecting its overall value. The extremely low list price reflects this condition, but buyers should conduct a thorough survey to assess the extent of necessary repairs and factor those costs into their decision-making process.

Therefore, we give this property 5 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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