Sold STC - 2 bed End of Terrace

PRICED TO SELL - END-OF-CHAIN, VACANT & HEAVILY TABACCO STAINED REFURBISHMENT  PROJECT BUY FOR FLIPPERS, DEALERS AND CASH BUYERS A TWO BEDROOM END-TERRACED HOUSE WITH KITCHEN, LIVING ROOM WITH DINING EXTENSION, BATHROOM, FRONT AND REAR GARDENS, GARAGE IN BLOCK, OIL BOILER & OPEN FIREPLACE.

Key Facts for Buyers:

EPC: Rating of F (21).

Council Tax: Band C

Approx. £2,2090 per annum.

PORCH: 3’9 x 2’9

Single skin brick and PVC construction, PVC porch, sloping roof, quarry tiled floor, part-glazed wooden front door to:

KITCHEN: 13’10 x 9’11

Front aspect PVC window, plain plaster ceiling, radiator, understairs cupboard, staircase, cupboard enclosing old fuse box and modern smart meter. Units in need of replacement.

LIVING ROOM: 13’10 x 12’8

Open plan to extension, plain plaster ceiling, radiator, original ‘Marley’ tiled floor.

EXTENSION: 10’11 x 12’3 widening to 13’1

Two rear aspect skylights, half glazed rear aspect PVC door, rear aspect PVC window, quarry tiled floor, floor standing oil boiler.

First Floor:

LANDING:

Plain plaster ceiling, airing cupboard, access to loft space with drop down ladder.

BATHROOM: 6’4 x 5’10

Rear aspect PVC window, plain plaster ceiling, radiator, three-piece suite in need of replacement.

BEDROOM ONE: 10’9 x 10’6

Front aspect PVC window, plain plaster ceiling, radiator, built-in wardrobe.

BEDROOM TWO:  9’8 widening to 9’11 x 7’8 plus built-in wardrobe

Rear aspect PVC window, plain plaster ceiling, built-in wardrobe, radiator.

Outside:

FRONT GARDEN: Refer to photograph

REAR GARDEN: Refer to photographs

1420 magnetic South-East, oil tank. 

Notes for Potential Purchasers:

 

This property is what the Americans would refer to as a doer-upper. Buyers should use the following comments for guidance only and they are specifically observations and not a survey. Nothing in these comments represents or constitutes part of a contract or guarantee. Buyers should satisfy themselves by professional survey and their own inspection as to the actual state of the building or the specific accuracy of any of the following comments. Our understanding is that a regular low deposit mortgage would typically be ‘red flagged’ by a survey based on the guidance to surveyors in the council for mortgage lender’s handbook. Do consider this property if you have either cash, or suitable lending options and access to the trades. If what follows appears a bit scary then this house probably isn’t for you.

This is an ideal opportunity for a property flipper, or anybody with a substantial deposit and a mortgage lender willing to lend based on an undertaking to carry out repairs after completion, and cash buyers. It has the natural extension of a dining room to the rear which is common to a lot of its neighbours. There are views to the rear looking out over the fields of Merton Stud and an attractive deep front garden plus a public lay-by to the front for first-come-first-served additional on-street parking. There is a garage in a block to the rear and being on the end of the row, next to the fence of the parking lot, enables parking in front of the up-and-over door as well. The property is currently un-registered, but it is highly likely that the garage is contained within the freehold and not an allocated one with rights of use. This should be checked by your solicitor on receipt of the property title, at the start of the conveyancing process.

The property appears watertight and although there are some settlement cracks at the edge and where boards join in the ceilings, plus a couple of light cracks approx. 1mm- 2mm over cupboard doors and around the chimney where, probably, thermal expansion has caused some light cracking. No signs of subsidence were noted. We have not done a damp test as the house appears dry. The house is solidly built with breeze internal walls and dates from the late 1970’s – early 1980’s, at a guess. No deflection was noted in the brickwork. There are numerous things that will come up on a survey, some of them as ‘red flags’ for mortgage lending and some other more minor components. There is some mortar work to do on the chimney which needs re-pointing at the top, probably 8-10 courses, and the gable end roof verge tiles need re-doing in places. The truss type roof generally appears to be watertight, and no signs of leakage internally or externally was noted. From ground level the ridge looks OK but there is extensive moss which could use cleaning off. No twist, dips or deflection was noted. The extension has a majority felt flat roof which needs to be changed to a rubber-based one more capable of dealing with thermal expansion and contraction and the older felt is naturally coming towards the end of its working life but doesn’t appear to leak currently. A survey of the rainwater goods would be sensible. We have no information about any chimney lining, or absence of one. The house was built with the open fireplace. The house has been heavily smoked in with little ventilation, so the tobacco staining is extensive. Now that the carpets and soft furnishings are out, while not great it doesn’t rip the back of your throat out as you go in, so not too bad a working environment all considered. The staining does show a continuity over time so demonstrates that few or no repairs have been needed to be done during the house’s history. The kitchen and bathroom are dated fits which are long overdue replacement. The heating is served by an oil boiler in the extension, largely to microbore pipe work on the radiator circuit. The hot water circuit appears to be 22mm copper. The boiler hasn’t been tested. The nearest oil heating servicer is Paul O’Neill at Merton Plumbing 07791 362484. The tank has been replaced with a plastic one at some point. There is no mains gas in the village.

The electrics appear original and will be non-compliant with current regulations. We have not carried out an NICEIC circuit test but, are sure it would come back as an ‘unsatisfactory’ rating. The fuseboard will certainly need replacing and the socket count is low by today’s standards so reckon on a re-wire being needed. The garden has been cut back but is full of bramble stems, so the best course of action would probably be to start with a mini digger and go from there, ideally before it starts growing again in the Spring. Ivy needs removing from the side elevation and the are some bits around the porch too. From a regulations point of view the extension appears to be built out over the mains sewer as there is a manhole in the extension floor. For future re-sale this will probably require an indemnity policy. The mdf floorboards appear basically sound with some boards which may require replacement. There doesn’t seem to be any worrying bounce anywhere. The wallpaper probably dates back to the 1980’s, but provides a good record of the stability of the building over time. The front porch has a single skin dwarf base with PVC door and windows above and filled in under the original porch which may have rotten timbers. We have not inspected the garage or the loft. There is a loft ladder in situ, although a pull-down stick wasn’t noted. The windows are dated and at the end of their working lives, though appear secure and watertight for the moment. They are remarkably clean on the inner parts of the frames, probably from lack of opening over the years, though heavily tobacco stained on the inside edges of the frames. The kitchen front door is the original wooden one, but has been protected by the porch addition, so it’s in good condition. The newel posts and banister rails appear sound with no signs of wobble.

Property flippers should reasonably reckon on a re-sale value of around £285,000 to £290,000 with medium range fittings, so not granite worktops but either solid wooden or ‘Karndean’ type flooring, for example. There is a ready enough market for the property to NHS staff as the village is one of the nearest to Oxford but still in the OX25 postcode rather than the more expensive OX5 postcode, so represents good value for money. Local roads are ideal for avoiding the A34 and going cross-country through Islip via Woodeaton and onto Headington where the hospitals are located, namely The John Radcliffe, The Churchill and the Nuffield Orthopedic. The road upon which the property sits is also served by a bus service to The John Radcliffe Hospital. It would also appeal generally to first time buyers. Properties in the village can rent well, often to NHS staff.

Any queries, call the office and ask for Colin. 01869 249922. 

Notes for Potential Purchasers:

 

This property is what the Americans would refer to as a doer-upper. Buyers should use the following comments for guidance only and they are specifically observations and not a survey. Nothing in these comments represents or constitutes part of a contract or guarantee. Buyers should satisfy themselves by professional survey and their own inspection as to the actual state of the building or the specific accuracy of any of the following comments. Our understanding is that a regular low deposit mortgage would typically be ‘red flagged’ by a survey based on the guidance to surveyors in the council for mortgage lender’s handbook. Do consider this property if you have either cash, or suitable lending options and access to the trades. If what follows appears a bit scary then this house probably isn’t for you.

This is an ideal opportunity for a property flipper, or anybody with a substantial deposit and a mortgage lender willing to lend based on an undertaking to carry out repairs after completion, and cash buyers. It has the natural extension of a dining room to the rear which is common to a lot of its neighbours. There are views to the rear looking out over the fields of Merton Stud and an attractive deep front garden plus a public lay-by to the front for first-come-first-served additional on-street parking. There is a garage in a block to the rear and being on the end of the row, next to the fence of the parking lot, enables parking in front of the up-and-over door as well. The property is currently un-registered, but it is highly likely that the garage is contained within the freehold and not an allocated one with rights of use. This should be checked by your solicitor on receipt of the property title, at the start of the conveyancing process.

The property appears watertight and although there are some settlement cracks at the edge and where boards join in the ceilings, plus a couple of light cracks approx. 1mm- 2mm over cupboard doors and around the chimney where, probably, thermal expansion has caused some light cracking. No signs of subsidence were noted. We have not done a damp test as the house appears dry. The house is solidly built with breeze internal walls and dates from the late 1970’s – early 1980’s, at a guess. No deflection was noted in the brickwork. There are numerous things that will come up on a survey, some of them as ‘red flags’ for mortgage lending and some other more minor components. There is some mortar work to do on the chimney which needs re-pointing at the top, probably 8-10 courses, and the gable end roof verge tiles need re-doing in places. The truss type roof generally appears to be watertight, and no signs of leakage internally or externally was noted. From ground level the ridge looks OK but there is extensive moss which could use cleaning off. No twist, dips or deflection was noted. The extension has a majority felt flat roof which needs to be changed to a rubber-based one more capable of dealing with thermal expansion and contraction and the older felt is naturally coming towards the end of its working life but doesn’t appear to leak currently. A survey of the rainwater goods would be sensible. We have no information about any chimney lining, or absence of one. The house was built with the open fireplace. The house has been heavily smoked in with little ventilation, so the tobacco staining is extensive. Now that the carpets and soft furnishings are out, while not great it doesn’t rip the back of your throat out as you go in, so not too bad a working environment all considered. The staining does show a continuity over time so demonstrates that few or no repairs have been needed to be done during the house’s history. The kitchen and bathroom are dated fits which are long overdue replacement. The heating is served by an oil boiler in the extension, largely to microbore pipe work on the radiator circuit. The hot water circuit appears to be 22mm copper. The boiler hasn’t been tested. The nearest oil heating servicer is Paul O’Neill at Merton Plumbing 07791 362484. The tank has been replaced with a plastic one at some point. There is no mains gas in the village.

The electrics appear original and will be non-compliant with current regulations. We have not carried out an NICEIC circuit test but, are sure it would come back as an ‘unsatisfactory’ rating. The fuseboard will certainly need replacing and the socket count is low by today’s standards so reckon on a re-wire being needed. The garden has been cut back but is full of bramble stems, so the best course of action would probably be to start with a mini digger and go from there, ideally before it starts growing again in the Spring. Ivy needs removing from the side elevation and the are some bits around the porch too. From a regulations point of view the extension appears to be built out over the mains sewer as there is a manhole in the extension floor. For future re-sale this will probably require an indemnity policy. The mdf floorboards appear basically sound with some boards which may require replacement. There doesn’t seem to be any worrying bounce anywhere. The wallpaper probably dates back to the 1980’s, but provides a good record of the stability of the building over time. The front porch has a single skin dwarf base with PVC door and windows above and filled in under the original porch which may have rotten timbers. We have not inspected the garage or the loft. There is a loft ladder in situ, although a pull-down stick wasn’t noted. The windows are dated and at the end of their working lives, though appear secure and watertight for the moment. They are remarkably clean on the inner parts of the frames, probably from lack of opening over the years, though heavily tobacco stained on the inside edges of the frames. The kitchen front door is the original wooden one, but has been protected by the porch addition, so it’s in good condition. The newel posts and banister rails appear sound with no signs of wobble.

Property flippers should reasonably reckon on a re-sale value of around £285,000 to £290,000 with medium range fittings, so not granite worktops but either solid wooden or ‘Karndean’ type flooring, for example. There is a ready enough market for the property to NHS staff as the village is one of the nearest to Oxford but still in the OX25 postcode rather than the more expensive OX5 postcode, so represents good value for money. Local roads are ideal for avoiding the A34 and going cross-country through Islip via Woodeaton and onto Headington where the hospitals are located, namely The John Radcliffe, The Churchill and the Nuffield Orthopedic. The road upon which the property sits is also served by a bus service to The John Radcliffe Hospital. It would also appeal generally to first time buyers. Properties in the village can rent well, often to NHS staff.

Any queries, call the office and ask for Colin. 01869 249922.