19 Blackburn Street, Workington, Cumbria CA14 2SS

Description

A mid terraced house in need of general modernisation. A good investment property with hall, two reception rooms, kitchen, bathroom and two bedrooms.

Accommodation

Ground Floor: Hall; Front Sitting Room 10'3 x 8'9; Living Room 11'9 x 10'3; Kitchen 12'6 x 5'6; Wet Room 7' x 6'. First Floor: Front Bedroom 11'6 x 10'3; Rear Bedroom 11'9 x 10'6.

Location

What3words location ///after.speeds.descended

Tenure / Property Information

Investment Analysis

Completed sales on Blackburn Street range from £50,000 to £76,000. The five-sale average is £67,500, used as the base GDV. The £50,000 and £76,000 sales provide evidence-supported low and high scenarios, although differences in condition and specification are not provided.

Investment Snapshot

Strategy Recommendation

Potentially suitable for a buy-to-let or BRRR strategy at the guide, subject to inspection, legal-pack review and confirmation of all works and fees. Do not bid without establishing a realistic refurbishment budget.

Works Required

General modernisation is required, based on the description. Specific works, condition details and costs are not supplied, so no detailed scope or refurbishment allowance can be established.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £30,000 guide, the evidence-supported base GDV is £67,500 and 75% of GDV is £50,625. BRRR cash requirements and cash left in cannot be calculated because refurbishment and total acquisition costs are unavailable. Legal pack review is essential before relying on the refinance case.

Buy-to-Let Analysis

The two advertised two-bedroom rental listings indicate £750 pcm, equivalent to £9,000 annually. This produces a 30.0% gross yield against the £30,000 guide price, but the adjusted yield cannot be established because refurbishment, buyer premium, legal/disbursement and other costs are unknown. Advertised rents are not achieved rents.

Flip Analysis

The base GDV is estimated at £67,500 from completed local sales. A flip surplus cannot be calculated because refurbishment, purchase-related costs, selling costs and the buyer premium are not supplied. The property is described as requiring general modernisation.

Investor Risks & Due Diligence

• General modernisation is required, but no detailed condition survey or refurbishment cost is provided.

• Tenure is stated as subject to the legal pack and has not been confirmed.

• Buyer premium, legal costs, disbursements and other purchaser charges are unknown.

• The rental evidence comprises advertised asking rents rather than achieved or passing rents.

• Comparable sale prices range materially from £50,000 to £76,000, and comparable condition details are unavailable.

Recommendation

Potentially suitable for a buy-to-let or BRRR strategy at the guide, subject to inspection, legal-pack review and confirmation of all works and fees. Do not bid without establishing a realistic refurbishment budget.

Strategy Rating

Analysis Confidence

Completed sales and advertised rental evidence are available, but tenure, property condition, refurbishment costs, buyer premium, disbursements, EPC and operating costs are not supplied.