14 Berriedale Road, Nelson, Lancashire BB9 8AZ

Description

Two Bed Terraced House – Let at £520pcm (£6,240pa). Not yet inspected by Auction House, however understood to be a tenanted two bed mid terrace house. The property is 72m² as taken from EPC.

Accommodation

Two reception rooms, kitchen, two bedrooms and a bathroom.

Location

Nelson, Lancashire.

Tenure / Property Information

Investment Analysis

Same-road sold comparables range from £39,000 to £85,000, with recent evidence at £65,000, £73,000 and £83,500. A base GDV of £73,000 is used, but the property has not been inspected and the comparable variation creates meaningful uncertainty.

Investment Snapshot

Strategy Recommendation

Investigate as a potential income-focused BTL purchase rather than a flip, subject to inspection, tenancy verification, legal-pack review and confirmation of total auction costs. Do not rely on the advertised rent or base GDV without further evidence.

Works Required

No refurbishment allowance is made because the property has not been inspected and the evidence identifies no specific defects. Verify condition, tenancy, lease terms and compliance through inspection and the legal pack.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the base GDV of £73,000, 75% refinancing equates to £54,750. Cash left in cannot be calculated reliably because refurbishment costs, buyer premium and other disbursements are unknown. The strategy is dependent on the property supporting the base GDV and acceptable lender/tenancy evidence.

Buy-to-Let Analysis

At the stated passing rent of £520 pcm, annual rent is £6,240 and gross yield on the £60,000 guide is 10.4%, before finance, maintenance, management, voids, tax and auction costs. The £595 pcm figure is an advertised asking rent rather than achieved rent. BTL appears potentially attractive, subject to verifying the tenancy, condition, arrears, legal pack and all buyer costs.

Flip Analysis

The base GDV of £73,000 is supported by same-road sales, but the property is tenanted, uninspected and has unknown works and transaction costs. A reliable flip surplus cannot be calculated without a supported refurbishment budget and selling-cost allowance.

Investor Risks & Due Diligence

• The property has not been inspected, so condition and any required works are unknown.

• The buyer premium, ground rent, disbursements and other legal or transfer costs are not quantified.

• The property is tenanted; tenancy terms, arrears, deposit, compliance and vacant-possession position require verification.

• Comparable sold prices vary materially from £39,000 to £85,000.

• The £595 pcm rental evidence is an advertised asking rent, not an achieved rent.

• Long leasehold title terms and ground rent require review in the legal pack.

Recommendation

Investigate as a potential income-focused BTL purchase rather than a flip, subject to inspection, tenancy verification, legal-pack review and confirmation of total auction costs. Do not rely on the advertised rent or base GDV without further evidence.

Strategy Rating

Analysis Confidence

Supported by multiple same-road completed sales and stated passing rent, but condition is uninspected and refurbishment, buyer premium, disbursements, ground rent and tenancy details are incomplete.