111 Waterloo Walk, Washington, Tyne And Wear, NE37 3EN

Description

A one-bedroom, third-floor flat in Washington, Tyne & Wear. The property is described as suitable for first-time buyers, professionals or buy-to-let investors.

Accommodation

Entrance hall, lounge, fitted kitchen, one double bedroom and bathroom. The total approximate floor area is 42m2.

Location

The property is situated on Lumley Close, approximately 0.7 miles from The Galleries shopping centre. Washington offers local amenities, transport links to the A1(M), A19 and A1231, and nearby rail stations at Heworth and Sunderland.

Tenure / Property Information

Investment Analysis

Same-road completed sales range from £15,000 to £37,000. The most relevant evidence includes £20,000 for 112 Waterloo Walk and £23,000 for 132 Waterloo Walk, while the £37,000 sale indicates a possible upper scenario but creates substantial valuation uncertainty. A base GDV of £23,000 is used, subject to legal-pack and condition verification.

Investment Snapshot

Strategy Recommendation

Do not bid solely on the guide price. Review the legal pack and inspect the flat, with particular focus on lease length, service charge, ground rent, major works and all buyer charges. Proceed only if the all-in cost remains comfortably below supported comparable values.

Works Required

No specific defects or required works are evidenced. Confirm condition, vacant possession or tenancy status, lease terms, service charge, ground rent and any planned major works through inspection and the legal pack before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £23,000 base GDV, 75% of GDV is £17,250. A complete BRRR analysis cannot be supported because refurbishment costs, rent, buyer premium, service charge, ground rent, finance costs and other acquisition costs are unavailable.

Buy-to-Let Analysis

The description states that the flat may suit buy-to-let investors, but no sufficiently specific rental comparable or auctioneer rent estimate is supplied. Rent, yield and cash-flow performance therefore cannot be established. Buyer premium, service charge, ground rent and other legal-pack costs are also unknown.

Flip Analysis

The completed-sales evidence supports a broad £15,000–£37,000 value range, with £23,000 used as the base GDV. A flip surplus cannot be calculated because refurbishment costs, buyer premium and other purchase and resale costs are not supplied.

Investor Risks & Due Diligence

• Wide range in same-road completed sale prices creates material GDV uncertainty.

• Buyer premium and possible additional fees are not quantified.

• Ground rent and service charge are unknown.

• Lease details, including any relevant lease-term information, require legal-pack review.

• No rental evidence is available to establish BTL income or yield.

• Property condition and any required works have not been evidenced.

• Occupancy status is not supplied.

Recommendation

Do not bid solely on the guide price. Review the legal pack and inspect the flat, with particular focus on lease length, service charge, ground rent, major works and all buyer charges. Proceed only if the all-in cost remains comfortably below supported comparable values.

Strategy Rating

Analysis Confidence

There are several same-road completed sales, but they show a wide price range. Rental evidence, property condition, lease details, service charges, ground rent, buyer premium and other costs are unavailable.