14 Martens Avenue, Bexleyheath, Kent, DA7 6BD

Description

A three-bedroom semi-detached house situated in an established residential location. The property has double glazing, gas heating, a driveway, garage and a rear garden with a pleasant wooded aspect. Let under the terms of a Statutory Tenancy at a current rental of £13,878.28 per annum. This represents an opportunity for specialist investors looking to add to their existing portfolio.

Accommodation

Ground Floor: Entrance hall, kitchen, through living/dining room with patio doors leading to rear garden. First Floor: Three bedrooms, bathroom and bathroom with W.C. Outside: Driveway, garage and rear garden.

Location

Situated in an established residential location in Bexleyheath, Kent. The rear garden has a pleasant wooded aspect.

Tenure / Property Information

Investment Analysis

The supplied Land Registry evidence for same-street freehold semi-detached houses ranges from £425,000 to £605,000. The £605,000 sale is materially above the other evidence and may reflect differences in size, condition or specification, which are not supplied. A base GDV of £490,000 is adopted, with a £425,000 low case and £605,000 high case. These are indicative only because the property is occupied under a Statutory Tenancy and no internal condition or floor-area evidence is provided.

Investment Snapshot

Strategy Recommendation

Treat as a specialist income investment only if the statutory tenancy, rent position and legal file are satisfactory. Do not underwrite to the £2,200 pcm asking rent or a vacant resale without verified evidence.

Works Required

No refurbishment works are evidenced. The property is described as having double glazing, gas heating, driveway, garage and rear garden. Internal inspection and confirmation of condition would be required before allowing for works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the indicative £490,000 base GDV, 75% refinancing equates to £367,500. The refinance position cannot be assessed fully because refurbishment costs, buyer/admin charges, other fees, finance costs and any costs associated with the existing tenancy are not supplied. The registered tenancy also limits reliance on vacant-market assumptions.

Buy-to-Let Analysis

At the registered Fair Rent of £266.89 per week, current annual rent is £13,878.28, equivalent to approximately £1,156.52 pcm. Against the £315,000 guide this produces a gross yield of approximately 4.41%, before finance, tax, management, maintenance and other costs. The £2,200 pcm rental listing is an advertised asking rent, not an achieved rent, and may not be applicable while the Statutory Tenancy remains in place.

Flip Analysis

A flip appraisal cannot be reliably completed. The property is occupied under a Statutory Tenancy, no refurbishment budget or internal condition evidence is supplied, and auction administration, other non-optional costs and selling costs are unstated. The comparable sales support an indicative value range but do not establish a guaranteed vacant resale value.

Investor Risks & Due Diligence

• The property is occupied under a Statutory Tenancy with a registered Fair Rent, limiting immediate vacant possession and current income.

• The £2,200 pcm figure is an advertised asking rent rather than achieved rent and may not be obtainable during the tenancy.

• Administration and other non-optional auction fees are unstated, with Stamp Duty, Land Registry fees and VAT potentially applicable.

• No internal inspection, floor area or detailed condition information is supplied, so refurbishment costs and precise market value are uncertain.

• The comparable sale prices vary substantially from £425,000 to £605,000 and may reflect differences in size, condition or specification not provided.

Recommendation

Treat as a specialist income investment only if the statutory tenancy, rent position and legal file are satisfactory. Do not underwrite to the £2,200 pcm asking rent or a vacant resale without verified evidence.

Strategy Rating

Analysis Confidence

Same-street completed sales and the registered rent are supplied, but internal condition, floor area, tenancy documentation beyond the registration details, buyer fees and other project costs are unavailable.