13 Argent Street, Peterlee SR8 3QA

Description

A traditionally constructed, 3 bedroom mid terrace house requiring improvement works but benefitting from well proportioned and versatile accommodation, in an area of high rental demand, giving excellent yield potential (based on guide price) once renovated, along with scope to add value. The property has suffered from extensive fire damage.

Accommodation

Ground Floor: Entrance Hall, Sitting Room, Dining Room, Kitchen. First Floor: Bedroom 1, Bedroom 2, Bedroom 3, Family Bathroom. Outside: Rear yard.

Location

The property is situate on Argent Street, Peterlee, on the outskirts of Sunderland, within reach of local amenities, including local rail station and the North East coast. Sunderland offers a wide range of retail and leisure facilities, along with further access to surrounding towns and cities. The North East coast offers access to coastal areas including Scarborough, Whitby, Staithes, Seaham and Whitburn.

Tenure / Property Information

Investment Analysis

Same-street completed sales range from £33,000 to £52,500, with £44,000 and £44,250 recent comparables. A provisional base GDV of £44,000 is used, with a £33,000–£52,500 evidence range. Comparable condition is not supplied, so fire-damage adjustment remains uncertain.

Investment Snapshot

Strategy Recommendation

Proceed only as a refurbishment-led investment after inspecting the property, obtaining a fire-damage survey and reviewing the legal pack. Do not bid on the guide alone without verified works costs.

Works Required

Remediation and reinstatement following the stated extensive fire damage, together with general improvement works. The evidence does not specify the required scope or cost.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £44,000 base GDV, 75% refinancing would be approximately £33,000. However, refurbishment costs, total acquisition costs and finance costs are unavailable, so cash required and refinance surplus cannot be established.

Buy-to-Let Analysis

The auctioneer estimates £600 pcm, equivalent to £7,200 annually, producing an 80% gross yield on the £9,000 guide before fees and refurbishment. Rental listings advertise £650 pcm, but these are asking rents. The extensive fire damage and unknown refurbishment cost prevent a meaningful net-return assessment.

Flip Analysis

The evidence supports a provisional £44,000 base GDV, but no refurbishment quotation or supported selling-cost allowance is provided. A reliable flip surplus and maximum bid cannot therefore be calculated.

Investor Risks & Due Diligence

• Extensive fire damage may require substantial and specialist remediation.

• No refurbishment cost estimate or detailed condition report is supplied.

• Special-condition fees, seller costs, legal fees, transfer fees and disbursements may be payable but are unknown.

• Rents are either an auctioneer estimate or advertised asking rents, not achieved rents.

• Comparable sale condition and specification are not supplied.

• The legal pack should be checked for tenure terms and any applicable charges.

Recommendation

Proceed only as a refurbishment-led investment after inspecting the property, obtaining a fire-damage survey and reviewing the legal pack. Do not bid on the guide alone without verified works costs.

Strategy Rating

Analysis Confidence

There are several relevant same-street completed sales and rental indicators, but the extensive fire damage, refurbishment cost, comparable condition and additional auction costs are not quantified.