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Melbourne Street, Derby

East Midlands

£170,000
Listed on 08/08/2025

Property Details

Bedrooms
3
Type
Terraced house
Area
1313 sqft

Description

This mid-terrace three-bedroom property on Melbourne Street presents a compelling opportunity for buyers interested in renovation or investment. Located just a short distance from Derby City Centre, the home enjoys convenient access to public transport and essential amenities, including the train station and Pride Park, enhancing its appeal for potential renters or future homeowners. The property is offered chain-free, making it an attractive option for both investors and families eager to move promptly. Inside, you will find a spacious layout that allows for various uses. The ground floor consists of three sizable reception rooms, offering flexibility that can accommodate living areas or dining spaces. There's also potential here to convert these rooms into additional bedrooms if desired. At the back, the kitchen provides direct access to a courtyard garden with possibilities for creating a low-maintenance outdoor space. On the upper level, there are two generously sized double bedrooms; the master features double windows and an en-suite bathroom. A further double bedroom along with a good-sized single bedroom completes this floor, all served by a family bathroom. While the property does require modernization throughout, it stands as a blank canvas ripe for personal touches. Whether you aim to establish a comfortable family home or are seeking a buy-to-let investment with significant rental potential due to its size and prime location, this property is well-positioned to meet those needs. This is an opportunity not to be overlooked — early viewings are encouraged to fully appreciate what this home can offer.

Investment Analysis

(DE1 area)

Below Market Value

This property is priced -43.0% below area average per sq ft

-43.0%
Potential saving
This Property
£129/sq ft
Area Average
£227/sq ft
Avg Rent (weekly)
£194
Avg Yield
5.9%

Renovation Potential

Est. Renovation Cost
£17,000 - £42,500
10-25% of property value
Target Value
£327,784
10% above area average per sq ft
Potential ROI
+54.3%
After renovation
Monthly Sales
14
Average per month
Market Turnover
15%
Properties sold annually

Local Market Trend (DE1)

Area prices are falling by +3.8% over the last 12 months
3 year growth: -0.5%
5 year growth: 14.2%
Investment Disclaimer: Analysis based on DE1 area averages and may not reflect property-specific factors like condition, exact location, or unique features. 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

Melbourne Street, Derby
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