18 Manor Street Raunds, Wellingborough, Northamptonshire, NN9 6JW

Description

A nicely presented mobility accessed two-bedroom end of terrace cottage in the popular location of Raunds, Wellingborough. The property is offered with a tenant in situ currently paying £9,000 per year. The property features approximately 730 sqft of net internal space which includes two bedrooms, kitchen, living area, downstairs WC and family bathroom on the first floor. It also benefits from a long rear garden, off-road parking at the front with disability lift access and solar panels installed on the roof. The property would benefit from internal modernisation and there is potential for a rear extension, subject to planning permission and Deed of Variation for pedestrian access.

Accommodation

Approximately 730 sqft of net internal space. Ground floor: entrance hall, downstairs WC with wash basin and UPVC window, living area with carpet flooring, double glazed windows to the front and doors leading into the kitchen, and a bright spacious kitchen with storage, wooden kitchen cabinets, tiled flooring, gas cooker and UPVC windows overlooking the rear garden. First floor: bathroom with tiling, bathtub with shower head, low-level WC, wash basin with storage and rear-facing UPVC window; bedroom one with front-facing UPVC window, carpet and single-panel radiator; bedroom two with rear-facing UPVC window, carpet and single-panel radiator. Front garden with driveway parking for one car, disability stair lift access, small lawn, side access and main door. Rear garden with long lawn, multiple sheds and storage huts, shrubs, trees, bushes, patio, fencing and a small greenhouse, overlooking St Peters Church.

Location

Popular location of Raunds, Wellingborough, Northamptonshire.

Tenure / Property Information

Investment Analysis

The £160,000 guide is not supported by a current comparable valuation in the supplied evidence. Land Registry records show this property sold for £125,000 in 2014, while other Manor Street terraced sales from 2010–2014 range from £118,500 to £152,000. These historic transactions are too dated to establish a current GDV. The property has a stated passing rent of £9,000 per year (£750 pcm). Known buyer premium and administration charges total £3,600, making the purchase price plus known charges £163,600 before works and any additional auction disbursements.

Investment Snapshot

Strategy Recommendation

Consider only as a cautious income-hold/BTL purchase, subject to verification of the tenancy, legal pack, condition and all auction charges. Do not rely on extension or refurbishment uplift without evidence and approvals.

Works Required

Internal modernisation is stated as beneficial, but no quantified scope or cost is supplied. Any rear extension would require planning permission and a Deed of Variation for pedestrian access; it should not be assumed in the appraisal.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR appraisal cannot be established because current GDV, refurbishment costs, finance costs and refinance terms are unsupported. The known purchase price plus stated buyer and administration charges is £163,600 before works and other charges, while a 75% GDV refinance calculation is not possible.

Buy-to-Let Analysis

The in-situ tenant is stated to pay £9,000 annually, equivalent to £750 pcm. On the £160,000 guide, the gross yield is approximately 5.63% before the £3,600 known buyer and administration charges, works, finance, management, maintenance and other possible auction disbursements. Tenancy terms and rent review information are not supplied, so income durability cannot be assessed.

Flip Analysis

A flip appraisal cannot be reliably calculated. Current GDV, quantified modernisation costs, selling costs and any extension value are not supplied. The historic comparable evidence does not support a current resale valuation.

Investor Risks & Due Diligence

• The tenant is in situ, but tenancy terms, deposit position, arrears and possession assumptions are not supplied.

• The property is stated to benefit from internal modernisation, but no quantified works scope or budget is provided.

• The potential rear extension is subject to planning permission and a Deed of Variation for pedestrian access.

• Additional auction charges may include search fees, seller-cost reimbursement, legal fees, transfer fees and other disbursements.

• The supplied comparable sales are historic transactions from 2010–2014 and may not represent current market value.

• The stated rent is a passing rent rather than an independently evidenced market-rent assessment.

Recommendation

Consider only as a cautious income-hold/BTL purchase, subject to verification of the tenancy, legal pack, condition and all auction charges. Do not rely on extension or refurbishment uplift without evidence and approvals.

Strategy Rating

Analysis Confidence

Passing rent, guide price, known charges, property description and historic Land Registry sales are supplied, but there is no current GDV evidence, refurbishment cost, tenancy detail, council tax information, external rental comparable or complete auction cost schedule.