15 Byron Avenue, Southend-on-Sea, Essex

Description

This four bedroom mid-terraced Freehold property is offered for sale with vacant possession. Located within access of local shops and transport links features include a good sized Sun Lounge and Off-Road Parking. It is considered that the house would suit both owner occupiers and investors alike

Accommodation

Entrance Hall; G. F Cloakroom; Lounge: 16'1 x 10'8 max; Kitchen: 11' x 9'9 - open-plan to Conservatory: 16'2 x 5'7; First Floor Landing; Bedroom One: 11'11 max red to 9'8 x 8'6; Bedroom Two: 10'8 x 7'9; Bedroom Three: 8'3 x 7'9; Bedroom Four: 7'6 max x 7'; Shower Room / Wc; Externally: Rear Garden; Off-Road Parking.

Location

Located within access of local shops and transport links.

Tenure / Property Information

Investment Analysis

The £250,000 guide is close to the only directly comparable recent evidence supplied: 20 Byron Avenue sold for £248,000 in August 2018. Earlier Byron Avenue sales range from £140,000 to £195,000 between 2013 and 2015, but are too historic to establish current value. No current completed sales, condition evidence, EPC, fees or formal valuation are supplied, so a reliable GDV range cannot be established.

Investment Snapshot

Strategy Recommendation

Potential owner-occupier or BTL purchase only after survey, legal review and confirmation of all auction fees. Do not bid above a separately calculated limit based on verified condition and current valuation evidence.

Works Required

No specific defects or refurbishment requirements are evidenced. Obtain a survey and verify the condition of the kitchen, bathrooms, heating, windows, roof, structure, conservatory/sun lounge, garden and parking before committing to works or a bid.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR analysis cannot be reliably completed because GDV, refurbishment cost, purchase costs and refinance terms are unsupported. The 75% refinance figure and cash-left-in calculation should not be relied upon without a current valuation and full fee schedule.

Buy-to-Let Analysis

The supplied advertised asking rent is £1,500 pcm, equivalent to £18,000 annually. Against the £250,000 guide, this indicates a headline gross yield of 7.2%, before auction fees, refurbishment, maintenance, voids, management, finance and tax. Achieved rent and total acquisition cost are unconfirmed, so net yield cannot be established.

Flip Analysis

A flip surplus cannot be calculated because no current GDV, condition-based works budget, selling allowance or auction costs are supplied. The £248,000 2018 sale on Byron Avenue is useful context but does not establish a current resale value.

Investor Risks & Due Diligence

• The supplied comparable evidence is historic, with the latest sale dated August 2018.

• Auction fees are stated as payable but no buyer premium or administration charge is provided.

• No condition, survey, EPC, heating or council tax information is supplied.

• The £1,500 pcm figure is an advertised asking rent, not an achieved or passing rent.

• Current GDV, refurbishment costs and refinance assumptions cannot be evidenced.

• Vacant possession means there is no existing rental income to verify.

Recommendation

Potential owner-occupier or BTL purchase only after survey, legal review and confirmation of all auction fees. Do not bid above a separately calculated limit based on verified condition and current valuation evidence.

Strategy Rating

Analysis Confidence

The property description, tenure, vacant possession, guide price, one asking rent and historic local sales are supplied, but current comparables, condition, EPC, buyer costs, refurbishment costs and achieved rental evidence are absent.