14 Leasowe Close, Leeds, West Yorkshire

Description

This two bedroom through terrace in cul-de-sac location is offered for sale via traditional auction. The property is currently tenanted generating a gross rental income of £8,400 per annum. Situated within the selective licensing area of Hunslet, in close proximity to motorway links such as the M62 and M1. Good local primary and secondary schools are also close by.

Accommodation

Ground Floor: Lounge and dining kitchen. First Floor: Two bedrooms and bathroom. Externally: Front and rear yard and external storage.

Location

Situated within the selective licensing area of Hunslet, in close proximity to the M62 and M1 motorway links. Good local primary and secondary schools are close by.

Tenure / Property Information

Investment Analysis

Same-street freehold terraced sales were £131,000–£149,000 in 2022–2023. A £140,000 base GDV is supported as an indicative comparable-based estimate, subject to unknown condition, EPC and tenancy factors.

Investment Snapshot

Strategy Recommendation

Investigate as a tenanted BTL or BRRR opportunity, subject to tenancy, licensing, legal-pack, EPC and condition checks. Do not bid above a separately modelled limit without works and finance assumptions.

Works Required

No refurbishment works are evidenced. Confirm condition, EPC, tenancy and licensing requirements before budgeting works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the guide price, known acquisition costs total £92,460 before works or other disbursements. A 75% refinance of the £140,000 base GDV indicates £105,000, potentially exceeding these known costs by £12,540 before finance, tax and works. Valuation and refinance remain uncertain due to limited condition and EPC evidence.

Buy-to-Let Analysis

The property is currently tenanted with stated gross income of £8,400 per annum. This produces approximately 9.33% gross yield on the £90,000 guide and 9.09% including the known £2,460 buyer/admin costs and searches. Advertised local rents are £800–£823 pcm, but achieved rent and tenancy terms require verification. Selective licensing applies in Hunslet.

Flip Analysis

Against the £140,000 base GDV, the guide purchase plus known costs totals £92,460 before works, finance, tax and selling costs, indicating £47,540 gross equity before those deductions. No supported selling allowance or refurbishment budget is available, so a net flip surplus cannot be established.

Investor Risks & Due Diligence

• Selective licensing applies in Hunslet and compliance requirements are not supplied.

• EPC rating is pending.

• Tenancy terms, rent payment history and tenant status require verification.

• Property condition and refurbishment requirements are unknown.

• Additional legal-pack disbursements may be payable.

• Comparable sales date from 2022–2023 and may not reflect current value.

Recommendation

Investigate as a tenanted BTL or BRRR opportunity, subject to tenancy, licensing, legal-pack, EPC and condition checks. Do not bid above a separately modelled limit without works and finance assumptions.

Strategy Rating

Analysis Confidence

Good same-street sold evidence and stated rental income are available, but condition, EPC, tenancy terms, legal-pack disbursements and refurbishment requirements are incomplete.