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Covedale Road, Sherwood NG5

East Midlands

£260,000
Listed on 17/10/2025

Property Details

Bedrooms
2
Type
Detached house
Area
807 sqft

Description

This detached two-bedroom bungalow presents a unique opportunity for those looking to invest in a property with renovation potential. The home is situated on a generously sized plot in a well-regarded neighborhood, with convenient access to local amenities and transport links, making it an appealing choice for both homeowners and investors. The layout begins with a welcoming entrance porch that leads into a hallway featuring built-in storage and loft access. The spacious living room offers ample natural light and includes a charming fireplace, providing a cozy focal point. The kitchen diner is functional, equipped with base and wall units, space for dining, and utility connections. There's also a separate utility room that enhances practicality, perfect for managing household tasks. Both bedrooms are comfortably sized and include built-in wardrobes, which could be refreshed to match modern tastes. Additionally, the bathroom includes essential features such as a bath with mains-fed shower and heated towel rail. Outside, the front of the property boasts an in-and-out driveway offering off-road parking for multiple vehicles alongside access to the garage. The rear garden is private and enclosed, giving you an ideal space to create an outdoor retreat with landscaping or gardening projects. This property is offered with no upward chain, allowing for a smooth transition for new owners eager to make changes. Given its location near Nottingham City Centre and key amenities like the City Hospital, there is strong rental potential or scope for value enhancement through thoughtful renovations. A viewing is encouraged to fully appreciate the possibilities this bungalow has to offer.

Investment Analysis

(NG5 area)

Above Market Value

This property is priced +32.6% above area average per sq ft

+32.6%
This Property
£322/sq ft
Area Average
£243/sq ft
Avg Rent (weekly)
£227
Avg Yield
5.5%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£15,000 - £30,000
Target Value
£215,667
10% above area average per sq ft
Potential ROI
-25.6%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
75
Average per month
Market Turnover
25%
Properties sold annually

Local Market Trend (NG5)

Area prices are rising by +2.4% over the last 12 months
3 year growth: 10.2%
5 year growth: 29.6%
Investment Disclaimer: Analysis based on NG5 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

Covedale Road, Sherwood NG5
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£952
Based on a loan of £195,000 over 30 years at 4.19% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE