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Rykneld Way, Derby, DE23

East Midlands

£280,000
Listed on 28/03/2026

Property Details

Bedrooms
2
Type
Detached Bungalow
Area
1014 sqft

Description

This versatile single-level property presents an excellent opportunity for renovation and investment in one of Derby's desirable suburbs. It offers a solid foundation with 1,148 sq. ft. of living space, featuring two generously sized bedrooms and a spacious lounge that invites natural light. The home includes a functional kitchen area and a contemporary bathroom designed for accessibility. Notably, there's potential to enhance the property's value through updates to its interior and the integral garage, which could be repurposed into additional living or working space (subject to planning permission). The outdoor area boasts a well-established private garden with defined zones for relaxation and entertainment, including an elevated deck—ideal for seasonal gatherings. The detached outbuilding provides further scope for conversion, whether as a workshop or home office. With local amenities within close reach and strong transport links, this property is perfectly positioned for those seeking modern convenience while retaining character. Families will find nearby schools appealing, while leisure enthusiasts can enjoy surrounding green spaces. This property not only offers immediate livability but also the potential for considerable enhancement through thoughtful renovations.

Investment Analysis

(DE23 area)

Above Market Value

This property is priced +17.0% above area average per sq ft

+17.0%
This Property
£276/sq ft
Area Average
£236/sq ft
Avg Rent (weekly)
£194
Avg Yield
3.8%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£25,000 - £40,000
Target Value
£263,290
10% above area average per sq ft
Potential ROI
-17.7%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
36
Average per month
Market Turnover
22%
Properties sold annually

Local Market Trend (DE23)

Area prices are stable by +1.0% over the last 12 months
3 year growth: -0.4%
5 year growth: +8.4%
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

Rykneld Way, Derby, DE23
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.06%

Current average variable rate is 6.81%

Monthly Repayments
£1,010
Based on a loan of £210,000 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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