M-S Estates says ..

Property Oracle says ..

This three-flat property on Burford Road, Forest Fields, Nottingham, presents an interesting investment opportunity. Located in Nottingham, it offers relatively easy access to the city centre and nearby transport links, including the East Midlands Railway network (around 3.17km away). Additionally, there are several schools with good Ofsted ratings in the vicinity, making it a potentially desirable location for tenants.

However, the property requires significant attention. The provided photographs reveal an interior that needs modernisation and cosmetic improvements. The kitchens and bathrooms, in particular, would benefit greatly from renovation. The small garden is significantly overgrown and littered; this will require clearing and potentially landscaping, representing a considerable cost.

The current list price, though in line with average property costs, needs to be carefully evaluated alongside the costs associated with refurbishment. The presence of one already-let flat contributes positively to the investment potential, as do the two vacant units offering an opportunity for increased rental income. Therefore, a potential buyer should carefully weigh the potential rental income against the costs of upgrading and preparing the vacant flats for tenants. A thorough survey and realistic budgetary planning for renovation are crucial before proceeding with a purchase.

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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