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33 South Street, Melbourne, Derby DE73 8GB

East Midlands

£250,000
Listed on 01/04/2026

Property Details

Bedrooms
3
Type
Terraced

Description

This three-bedroom, double-fronted terraced property presents a promising opportunity for investors or those looking to create their ideal home. Located just a short walk from the charming town centre, this substantial freehold investment offers the advantage of vacant possession and potential for modernization. While well-maintained, the property could benefit from a minor refurbishment scheme to unlock its full value. Internally, the spacious layout includes an entrance lobby leading to a lounge and breakfast kitchen, along with a rear hall featuring storage and access to an integral garage. The timber-framed rear porch incorporates a WC, adding functionality to the ground floor. Upstairs, you'll find three genuine double bedrooms adorned with ornate cast-iron fireplaces, alongside an expansive en-suite bathroom and family bathroom. The ground floor space is particularly noteworthy for its potential to be reconfigured into a large open-plan living area that could significantly enhance the property's appeal (subject to building regulations). Additionally, there’s room for expansion on the first floor. Externally, the property features a small forecourt at the front and an enclosed garden at the back with established borders that provide privacy and enjoy a sunny aspect. This residence is situated within easy reach of local amenities, recreational facilities, and transport links including East Midlands Airport and the M1 Motorway. For anyone looking to invest in an area near the National Forest with enduring charm, this property warrants consideration.

Investment Analysis

(DE73 area)
Area Average
£303/sq ft
Avg Rent (weekly)
£250
Avg Yield
3.6%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£20,000 - £35,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
22
Average per month
Market Turnover
14%
Properties sold annually

Local Market Trend (DE73)

Area prices are falling by -3.1% over the last 12 months
3 year growth: -2.9%
5 year growth: +7.9%
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

33 South Street, Melbourne, Derby DE73 8GB
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 3.91%

Current average variable rate is 6.62%

Monthly Repayments
£885
Based on a loan of £187,500 over 30 years at 3.91% 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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