18 Ancona Street, Sunderland, Tyne and Wear, SR4 6TJ

Description

Three-bedroom mid-terraced property in Sunderland requiring refurbishment, offering strong investment potential with an estimated rental income of £800 PCM once completed.

Accommodation

Entrance hallway, spacious lounge/dining area, galley-style kitchen leading to the rear yard, three bedrooms and a family bathroom.

Location

Located in a popular residential area of Sunderland, within close proximity to local amenities, schools and transport links.

Tenure / Property Information

Investment Analysis

Completed sales on the same street range from £47,000 to £71,500, with three of five comparables at £60,000 or above. A base GDV of £60,000 is used, with a low scenario of £47,000 and high scenario of £71,500. These are broad evidence-based scenarios because the subject requires refurbishment and the condition of the comparables is not supplied. The auction guide is £30,000–£50,000, with a known £3,600 admin charge including VAT. Other possible auction charges are unspecified.

Investment Snapshot

Strategy Recommendation

Conditional BTL or BRRR, subject to a full survey, detailed refurbishment quotations and confirmation of all auction costs. Avoid bidding at the upper guide without establishing the works budget and resale condition.

Works Required

Refurbishment is required, but the evidence does not specify the defects or scope. Allow for inspection-led works to the kitchen, bathroom, decoration, flooring and any necessary repairs only after a survey and contractor quotations.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At a £60,000 base GDV, 75% refinancing would be approximately £45,000. The strategy cannot be fully costed because refurbishment costs and several auction charges are unspecified. BRRR may work if the property is acquired at a substantial discount to GDV and refurbishment is tightly controlled, but refinancing could leave capital in the project.

Buy-to-Let Analysis

The auctioneer estimates rent of approximately £800 PCM once completed, equivalent to £9,600 annually. Against the £50,000 upper guide, this indicates a gross yield of 19.2% before refurbishment, finance, tax, insurance, maintenance, voids and management. No sufficiently specific external rental comparable was identified, so the rent remains an estimate rather than achieved market evidence.

Flip Analysis

The same-street completed sales support a broad resale range of £47,000–£71,500, with £60,000 used as the base GDV. A reliable flip surplus cannot be calculated because refurbishment costs, selling costs and the full purchase cost are not supplied.

Investor Risks & Due Diligence

• Refurbishment scope and cost are unknown.

• The £800 PCM rent is an auctioneer estimate with no sufficiently specific external rental comparable.

• EPC rating is E and may require consideration of future compliance or improvement costs.

• Additional auction charges may apply but are not quantified.

• Comparable sale condition and accommodation details are not supplied, limiting GDV certainty.

• Refinancing at 75% of GDV may not recover total capital once works and charges are included.

Recommendation

Conditional BTL or BRRR, subject to a full survey, detailed refurbishment quotations and confirmation of all auction costs. Avoid bidding at the upper guide without establishing the works budget and resale condition.

Strategy Rating

Analysis Confidence

Same-street completed sales and an auctioneer rent estimate are available, but property condition, refurbishment costs, passing occupancy, external rental comparables and several purchase or selling costs are not supplied.