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Palmerston Street, Derby

East Midlands

£387,000
Listed on 28/12/2025

Property Details

Bedrooms
4
Type
Detached house

Description

The property offers significant potential for renovation and investment, featuring a welcoming entrance porch that leads into a spacious hallway complete with an understairs storage cupboard and original wood flooring. The elegantly proportioned living room at the front boasts double aspect windows, high ceilings adorned with coving, and a classic fireplace with an open fire. The gallery kitchen, while functional, could benefit from modern upgrades to enhance its appeal, including ample space for contemporary appliances such as a dishwasher and an American-style fridge freezer. Nearby, the sizeable dining room retains period charm with similar high ceilings and matching coving, complemented by patio doors that lead into the conservatory—this additional space provides views of the expansive rear garden but is ripe for modernization. On the ground floor, a versatile area currently used as a fourth bedroom includes its own en-suite shower room; this space could easily transform into a dedicated home office or guest suite. The first floor hosts three generously sized double bedrooms alongside a family bathroom, all of which could be rejuvenated to align with modern living standards. Externally, the property features a large rear garden divided into two main areas, well-suited for landscaping projects or outdoor entertaining spaces. Additionally, there is an existing structure suitable for conversion based on previously granted planning permission for an outbuilding in 2020. Located in a desirable area close to amenities and transport links to Derby city centre and major employers, this property presents an excellent opportunity for owners looking to invest in substantial updates that will significantly increase value.

Investment Analysis

(DE23 area)
Area Average
£234/sq ft
Avg Rent (weekly)
£198
Avg Yield
3.9%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£25,000 - £50,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
41
Average per month
Market Turnover
84%
Properties sold annually

Local Market Trend (DE23)

Area prices are rising by +3.5% over the last 12 months
3 year growth: +0.8%
5 year growth: +11.9%
Investment Disclaimer: Analysis based on DE23 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

Palmerston Street, Derby
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Mortgage Calculator

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£
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years

Current average 2-year fixed rate is 4.06%

Current average variable rate is 6.81%

Monthly Repayments
£1,396
Based on a loan of £290,250 over 30 years at 4.06% 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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