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Balfour Road, DERBY, Derbyshire, DE23

East Midlands

£120,000
Listed on 14/11/2025

Property Details

Bedrooms
2
Type
Terraced house
Area
835 sqft

Description

This traditional mid-terraced house presents a compelling opportunity for renovation, featuring two spacious double bedrooms and multiple living areas that can be tailored to your needs. The property includes a comfortable lounge and a separate dining room, alongside a functional kitchen equipped with a pantry for added convenience. The first floor hosts the two generously sized bedrooms, both benefiting from abundant natural light due to the flying freehold design, which enhances their overall dimensions. A family bathroom with a three-piece suite completes the upper level. Outside, the property features a walled forecourt at the front and an enclosed garden at the rear, which includes a practical outhouse for additional storage. This outdoor space offers potential for landscaping or creating an ideal recreational area. Located in an area with strong demand for housing, this home is well-suited for first-time buyers looking to invest in a project or landlords seeking a promising rental opportunity. With modernisation needed throughout, there’s ample scope to increase value by updating the interiors to suit contemporary tastes. The absence of any upward chain simplifies the purchasing process, making it an attractive option for those ready to embark on their next venture in real estate.

Investment Analysis

(DE23 area)

Below Market Value

This property is priced -39.6% below area average per sq ft

-39.6%
Potential saving
This Property
£144/sq ft
Area Average
£238/sq ft
Avg Rent (weekly)
£197
Avg Yield
4.1%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£25,000 - £40,000
Target Value
£218,373
10% above area average per sq ft
Potential ROI
+36.5%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
36
Average per month
Market Turnover
29%
Properties sold annually

Local Market Trend (DE23)

Area prices are rising by +6.2% over the last 12 months
3 year growth: 2.3%
5 year growth: 15.6%
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

Balfour Road, DERBY, Derbyshire, DE23
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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
£440
Based on a loan of £90,000 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