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South Street, Melbourne, Derby

East Midlands

£275,000
Listed on 30/12/2025

Property Details

Bedrooms
3
Type
Semi-detached house
Area
1054 sqft

Description

This three-bedroom end-terraced home is located in the sought-after Melbourne village, offering a solid foundation for renovation and potential investment. The property comes with approved planning permission for a ground floor extension, allowing for significant expansion of living space (ref DMPA/2022/0956). Currently, the layout features a lounge, dining room, fitted kitchen, utility area, and a WC on the ground floor. Upstairs, there are three bedrooms along with a bathroom that could benefit from modernization. The house is equipped with gas central heating and double glazing where specified. Externally, the private garden is predominantly gravelled for low maintenance and includes useful outbuildings such as a brick laundry and shed with light and plumbing facilities. The attractive outdoor space offers an appealing feature while also providing opportunities for enhancement or redesign. With local amenities including shops, pubs, and excellent transport links nearby, this property is not only ideal as a family home but also represents an exciting opportunity for investors looking to improve its value through thoughtful renovations.

Investment Analysis

(DE73 area)

Below Market Value

This property is priced -13.2% below area average per sq ft

-13.2%
Potential saving
This Property
£261/sq ft
Area Average
£301/sq ft
Avg Rent (weekly)
£247
Avg Yield
4.0%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£25,000 - £40,000
Target Value
£348,690
10% above area average per sq ft
Potential ROI
+10.7%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
23
Average per month
Market Turnover
17%
Properties sold annually

Local Market Trend (DE73)

Area prices are falling by +2.6% over the last 12 months
3 year growth: -2.3%
5 year growth: 12.1%
Investment Disclaimer: Analysis based on DE73 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

South Street, Melbourne, Derby
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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
£1,007
Based on a loan of £206,250 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