Dacre Son & Hartley says ..

Property Oracle says ..

This four-bedroom terraced house in Knaresborough, North Yorkshire, presents a compelling but challenging investment opportunity. Situated in a convenient location close to the town centre, Knaresborough train station and several schools, its position alone offers considerable appeal. The proximity to the historic Knaresborough Castle adds to the desirability of the location.

However, potential buyers must be aware of the significant renovation required. The property’s condition is far from move-in ready, requiring substantial work in the kitchen, bathrooms and throughout the interiors. The photographs reveal outdated fixtures, worn flooring, and a need for modernising both the interior and exterior. The small, unkempt rear yard is an additional factor to consider.

While the listed price might appear relatively reasonable for a four-bedroom property in Knaresborough, taking into account the extensive refurbishment necessary, careful cost analysis is crucial before making an offer. The return on investment will depend heavily on the cost of renovations and the final market value after completion. Prospective purchasers should obtain multiple quotes for renovation work and factor these into their decision-making process. Ultimately, this property offers potential for profit through renovation and a good location; but the costs of significant renovation must be a strong consideration.

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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