1 Burnville Road, Sunderland, Tyne and Wear

Description

Freehold end of terrace house. The property comprises three bedrooms, bathroom/wc, reception room, kitchen and rear yard.

Accommodation

First floor: Three bedrooms, bathroom/wc. Ground floor: Reception room, kitchen. Outside: Rear yard.

Location

The property is located on Burnville Road. A comprehensive range of shops, bars and restaurants can be found within Sunderland City Centre lying to the north east. Public transport links are available at University Metro Station and Sunderland Train Station both located to the north east along with a network of local bus services serving the surrounding areas. The property is served by road links including the A690 lying to the east and the A183 located to the north. Recreational pursuits can be found at Burn Park lying to the east and at Barnes Park located to the south west.

Tenure / Property Information

Investment Analysis

The strongest comparable is 5 Burnville Road at £100,000 in June 2018; the subject address also sold for £100,000 in 2007. Other same-road comparables sold for £105,000–£110,000 in 2006–2007. These sales are dated, so £100,000 is an indicative base GDV rather than a current formal valuation. The £86,000 guide is 86% of this indicative GDV before the £1,800 contract documentation fee and any other seller charges.

Investment Snapshot

Strategy Recommendation

Proceed only subject to inspection, EPC review, confirmation of rent and full fee disclosure. The available evidence supports investigating a BTL strategy at or below guide more than a flip, but the dated valuation evidence and unknown works require a cautious bid.

Works Required

No specific internal defects or scope of works are supplied. Obtain a full inspection and EPC-related assessment; the property is recorded as EPC G. Any remedial, safety or upgrade works should be costed before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the indicative £100,000 base GDV, 75% refinancing equates to £75,000. A reliable BRRR cash-left-in calculation cannot be made because the refurbishment scope and total acquisition costs are unknown. The £1,800 buyer contract documentation fee is known, while additional seller fees may apply.

Buy-to-Let Analysis

The supplied nearby advertised asking rent is £475 pcm, equating to £5,700 annually and a 6.63% gross yield against the £86,000 guide. This is an asking rent, not an achieved or subject-property rent. Net yield cannot be established because refurbishment, operating, financing and other completion costs are unsupported.

Flip Analysis

An indicative £100,000 GDV is supported by dated same-road sales, but refurbishment costs, selling costs and any seller fees are not supplied. Consequently, a reliable flip surplus or maximum bid cannot be established.

Investor Risks & Due Diligence

• EPC rating G may indicate a need for energy-related improvements, but the scope and cost are unknown.

• The comparable sales are dated, with the latest supplied sale from June 2018.

• The £475 pcm figure is an advertised asking rent for nearby Gilsland Street, not achieved rent for this property.

• Property condition, heating and parking information is not supplied.

• Additional seller fees may be payable under the special conditions of sale.

• Refurbishment, operating, financing and resale costs are not supplied.

Recommendation

Proceed only subject to inspection, EPC review, confirmation of rent and full fee disclosure. The available evidence supports investigating a BTL strategy at or below guide more than a flip, but the dated valuation evidence and unknown works require a cautious bid.

Strategy Rating

Analysis Confidence

There is a same-road comparable at £100,000 and nearby three-bedroom asking-rent evidence, but the sales are dated, the rent is not achieved rent, and condition, works, heating, parking and potentially additional seller fees are unresolved.