1 Dargai Street, Manchester, Lancashire

Description

Freehold end of terrace house, offered by order of a Housing Association. The property is vacant.

Accommodation

Ground floor: two reception rooms and kitchen. First floor: two bedrooms and bathroom. Rear yard. GIA approximately 75 sq m (807 sq ft), source: EPC.

Location

The property is situated on the west side of Dargai Street. Extensive shops and amenities are available nearby within Manchester city centre. Manchester Piccadilly rail station is approximately 2.8 miles to the west. The M60 motorway is to the east. Hewlett Johnson Playing Fields is nearby.

Tenure / Property Information

Investment Analysis

The five supplied Land Registry comparables are all terraced freehold properties on Dargai Street, with sale prices from £125,000 to £158,000 between March 2021 and May 2024. The most recent evidence is £158,000 for 23 Dargai Street in May 2024, while another sale reached £125,000 in August 2023. Differences in size, condition and specification are not supplied, so the indicated GDV range is only a broad evidence-based estimate. A base GDV of £140,000 is adopted, with low and high scenarios of £125,000 and £158,000.

Investment Snapshot

Strategy Recommendation

Proceed only after inspection, legal review and confirmation of all auction and seller charges. At the guide, the comparable evidence provides some potential resale headroom, but the absence of condition, rental and cost data makes a firm investment strategy or bid limit unsupported.

Works Required

No specific defects or required works are identified in the supplied evidence. The vacant property should be inspected and surveyed before bidding; no refurbishment allowance can be supported from the information provided.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the adopted £140,000 base GDV, a 75% refinance would be approximately £105,000. Cash left in cannot be calculated because refurbishment, purchase-related charges and total project cost are unsupported. The strategy requires confirmed condition, rental value and acquisition costs.

Buy-to-Let Analysis

BTL viability cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. Works, finance, operating costs and buyer charges are also unknown. The property is vacant, so no passing rent is evidenced.

Flip Analysis

The guide is £120,000 against an adopted base GDV of £140,000, creating a notional £20,000 difference before works, selling costs, finance and other charges. A reliable flip surplus cannot be calculated because the refurbishment requirement and selling allowance are unknown.

Investor Risks & Due Diligence

• The property is vacant and its internal condition and required works are not described.

• No sufficiently specific rental evidence is supplied, preventing reliable BTL yield analysis.

• Buyer premium, administration charge and other seller or third-party charges are not stated.

• The comparable sales vary materially in price and no size, condition or specification details are provided for comparison.

• The guide price is not a valuation and the final auction price may differ materially.

Recommendation

Proceed only after inspection, legal review and confirmation of all auction and seller charges. At the guide, the comparable evidence provides some potential resale headroom, but the absence of condition, rental and cost data makes a firm investment strategy or bid limit unsupported.

Strategy Rating

Analysis Confidence

The property description, tenure, occupancy, floor area and several same-street completed sales are supplied, but condition, rent, buyer charges, council tax, services and project costs are absent. Comparable property differences are also unknown.