Riverside says ..

Property Oracle says ..

This terraced property located on Wynburg Street in Hull is listed at £60,000. The property is in need of significant renovation, as evidenced by the provided images. The interior shows incomplete plastering, exposed wiring and plumbing, and a general lack of fixtures and fittings. The exterior, while showing a relatively standard terraced house, also shows signs of needing some work. The small rear garden is present but also requires attention.

The average property price in the area is £115,307, considerably higher than the listing price. However, the average price per square foot is £135, and this property is smaller than average at 794.38 sqft. Considering the extensive renovation required, the list price may be reasonable, though it’s important to note that the cost of renovation could easily exceed the current asking price. The location is near several primary schools with good Ofsted ratings, suggesting a family-friendly area. Proximity to transportation links is also a positive factor.

Rationale:

Based on the images and information provided, the following rationale is given for each score:

Condition: ³⁄₁₀. The property is in poor condition and requires extensive renovation work throughout. The images clearly show incomplete plastering, exposed utilities, and a general lack of fixtures and fittings. This necessitates significant investment before the property becomes habitable.

Land: ⁴⁄₁₀. While a small rear garden is present, it is also in need of work and is not particularly large.

Location: ⁷⁄₁₀. The property benefits from its proximity to well-regarded primary schools and public transportation. This makes it suitable for families.

Price: ⁶⁄₁₀. While significantly below the average house price in the area, the required renovation work must be factored in. The price could be considered reasonable, provided the buyer is prepared for substantial additional costs.

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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