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South Street, Melbourne, Derby

East Midlands

£200,000
Listed on 02/05/2026

Property Details

Bedrooms
3
Type
End Of Terrace
Area
1054 sqft

Description

This end terrace three-bedroom home presents an excellent opportunity for renovation and expansion in a highly sought-after area of Melbourne village. With planning permission already granted for a rear ground floor extension (reference DMPA/2022/0956), the potential exists to significantly enhance the living space to suit modern family needs. The property features traditional characteristics alongside essential amenities, including a gas central heating system and double glazing in specified areas. The existing layout includes a lounge, dining room, kitchen, utility area, and WC on the ground floor, while the first floor accommodates three bedrooms and a bathroom. Outdoor space comprises an enclosed garden with useful outbuildings such as a laundry facility equipped with plumbing and power, along with an additional brick shed. Given its location within close proximity to local shops, restaurants, and excellent commuter links via A50 and M1, this property has the potential to become a charming family residence or a profitable investment for rental purposes. This home’s current condition offers ample scope for light to medium refurbishment work to bring it into contemporary standards while capitalizing on its inherent charm.

Investment Analysis

(DE73 area)

Below Market Value

This property is priced -37.0% below area average per sq ft

-37.0%
Potential saving
This Property
£190/sq ft
Area Average
£301/sq ft
Avg Rent (weekly)
£230
Avg Yield
3.3%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£15,000 - £25,000
Target Value
£349,385
10% above area average per sq ft
Potential ROI
+55.3%
After renovation
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 stable by -0.8% over the last 12 months
3 year growth: -2.9%
5 year growth: +9.1%
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 3.97%

Current average variable rate is 6.59%

Monthly Repayments
£714
Based on a loan of £150,000 over 30 years at 3.97% 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.

Stamp Duty Calculator

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