11 Oronsay Walk, Darlington, County Durham, DL1 3QQ

Description

A one-bedroom ground-floor flat with double glazing, comprising an entrance hallway, large lounge with patio doors, kitchen, double bedroom, shower wet room and storage cupboard. The property would benefit from some modernisation and improvement.

Accommodation

Entrance hallway, large lounge with patio doors, kitchen, double bedroom, shower wet room and storage cupboard.

Location

Situated on Oronsay Walk in an established residential area of Darlington, near local shops and amenities. Springfield Park and North Road (Darlington) railway station are nearby. Darlington town centre, schools, public transport links and everyday amenities are within reach.

Tenure / Property Information

Investment Analysis

The strongest evidence is the completed sale of 9 Oronsay Walk at £50,000 in October 2023. Older same-street sales range from £34,950 to £60,495 but are less directly relevant due to age. A base GDV of £50,000 is supportable, broadly matching the guide, but there is insufficient evidence for a reliable value range.

Investment Snapshot

Strategy Recommendation

Treat as a potential income purchase only if the legal pack confirms acceptable leasehold terms and the modernisation cost is independently quantified. Do not bid above a separately calculated limit until buyer and other fees are known.

Works Required

Modernisation and improvement as indicated by the description. The scope, specification and cost of works are not provided, so no detailed works allowance can be supported.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £50,000 base GDV, a 75% refinance would be approximately £37,500. BRRR viability cannot be established because refurbishment costs, buyer costs, leasehold charges and total project cost are unknown.

Buy-to-Let Analysis

At the £50,000 guide, the auctioneer's £550 pcm rent estimate implies annual rent of £6,600 and a 13.2% gross yield. This is only an indicative yield: no sufficiently specific external rental comparable, service charge, leasehold costs, buyer premium or other acquisition costs are supplied.

Flip Analysis

The £50,000 base GDV is supported by the October 2023 same-street completed sale. A flip surplus cannot be calculated because refurbishment costs, buyer premium, additional fees and selling costs are not supplied.

Investor Risks & Due Diligence

• The flat requires modernisation and the scope and cost of works are not quantified.

• The buyer premium amount is unspecified.

• Additional property-specific fees may apply under the legal pack.

• Lease length, service charge, ground rent and other leasehold obligations are not supplied.

• The £550 pcm figure is an auctioneer estimate rather than a demonstrated achieved rent.

• Total acquisition and project cost cannot currently be calculated.

Recommendation

Treat as a potential income purchase only if the legal pack confirms acceptable leasehold terms and the modernisation cost is independently quantified. Do not bid above a separately calculated limit until buyer and other fees are known.

Strategy Rating

Analysis Confidence

A recent same-street completed sale and an auctioneer rent estimate are available, but the refurbishment scope, leasehold costs, buyer premium, additional fees and external rental evidence are missing.