14 Coronation Terrace, Helmington Row, Crook

Description

A Terrace House requiring modernisation with accommodation arranged on Two Floors comprising: First Floor: Bedroom (One), Bedroom (Two), Bathroom/WC. Ground Floor: Entrance Hall, Living Room, Dining Room, Kitchen. Yard at Rear.

Accommodation

First Floor: Bedroom (One), Bedroom (Two), Bathroom/WC. Ground Floor: Entrance Hall, Living Room, Dining Room, Kitchen. Yard at Rear.

Location

Situated on Coronation Terrace, close to the amenities available in Crook and Willington Town Centres.

Tenure / Property Information

Investment Analysis

The strongest comparable is 2 Coronation Terrace at £84,000 in November 2024. Earlier sales on the same terrace range from £62,500 to £80,000. A base GDV of £84,000 is supported for a modernised equivalent, with £62,500 as a cautious lower scenario. The comparables do not provide condition details, so no precise refurbishment adjustment is possible.

Investment Snapshot

Strategy Recommendation

Treat as a refurbishment-led opportunity only if a detailed inspection confirms manageable works and the purchase price leaves sufficient margin below the supported GDV range. Do not bid to a maximum figure without verified works costs, fees and rental evidence.

Works Required

Modernisation of the two-bedroom terrace house, including review and upgrading of the kitchen, bathroom, decoration and general finishes as required. The EPC is F, but no detailed specification or condition report is supplied, so the works scope and cost remain uncertain.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At a base GDV of £84,000, a 75% refinance would be approximately £63,000. However, the refurbishment cost, total acquisition cost, finance costs and achievable rent are not sufficiently evidenced, so cash left in and refinancing viability cannot be established. Vacant possession provides no existing passing rent.

Buy-to-Let Analysis

Advertised rental evidence ranges from £324 to £550 pcm, equivalent to £3,888 to £6,600 annually, but these are asking rents rather than achieved rents and are not specific to this property. Against the £84,000 base GDV, the indicated gross yield range is approximately 4.63% to 7.86%. The guide-price yield cannot be stated as a single figure because no supported rent has been selected and total costs are unknown. The £1,500 buyer premium should be allowed for at a purchase price above £10,000.

Flip Analysis

A resale value around £84,000 is supported by the latest same-terrace comparable, while £62,500 is a cautious lower scenario. A flip surplus cannot be calculated because the modernisation budget, selling allowance and full acquisition costs are unsupported. The £1,500 buyer premium and any seller-charged special-condition fees would reduce returns.

Investor Risks & Due Diligence

• The property is stated to require modernisation, but no detailed schedule or cost estimate is provided.

• EPC rating F may require improvement and could affect letting or resale considerations.

• Rental figures are advertised asking rents, not achieved rents, and range materially from £324 to £550 pcm.

• The property is vacant, so there is no passing rental income.

• The seller may charge additional completion fees under the special conditions, but the amount is not supplied.

• The comparable sales do not include condition details, limiting the reliability of the GDV adjustment.

Recommendation

Treat as a refurbishment-led opportunity only if a detailed inspection confirms manageable works and the purchase price leaves sufficient margin below the supported GDV range. Do not bid to a maximum figure without verified works costs, fees and rental evidence.

Strategy Rating

Analysis Confidence

Same-terrace completed sales and rental asking evidence are available, but condition-adjusted GDV, refurbishment costs, achieved rent, selling costs and possible special-condition fees are not supplied.