19 Haven Street, Salford, M6 5QR

Description

A five room terrace house requiring complete modernisation and repair.

Accommodation

Top Floor: Bedroom (Three). First Floor: Bedroom (One), Bedroom (Two), Bathroom/WC, Utility Room. Ground Floor: Entrance Hall, Living Room, Dining Room, Kitchen. Lower Ground Floor: Triple Chamber Cellar. Yard at Rear.

Location

Situated on Haven Street, close to the amenities available in Manchester City Centre including Salford Crescent and Salford Central Train Stations. Buile Hill Park is also nearby.

Tenure / Property Information

Investment Analysis

The five supplied same-street completed sales range from £180,000 to £250,000, with the more recent 2023–2024 evidence at £200,000 and £208,500. A base GDV of £200,000 is used, with a low scenario of £180,000 and high scenario of £208,500. The property requires complete modernisation and repair, so condition-adjusted value remains uncertain without a survey or detailed specification.

Investment Snapshot

Strategy Recommendation

Proceed only after a full survey, detailed refurbishment quotation and review of the special conditions. Do not rely on the headline rental yield; the investment case is too uncertain to set a defensible bid from the supplied evidence alone.

Works Required

Complete modernisation and repair as described by the auctioneer. The evidence does not specify individual defects, finishes, services or structural requirements, so no detailed scope or cost allowance can be supported.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £200,000 base GDV, 75% refinance is estimated at £150,000. However, refurbishment costs, total acquisition costs and finance costs are unsupported, so cash required and whether refinance would recover the investment cannot be calculated. The strategy is highly dependent on the eventual works budget and achieved value.

Buy-to-Let Analysis

The only rental evidence is an advertised asking rent of £2,250 pcm, equivalent to £27,000 annually. Against the £100,000 guide, this indicates a gross yield of 27%, before refurbishment, finance, voids, management, maintenance, tax and acquisition costs. The rent is not an achieved passing rent, and the property requires complete modernisation, so a reliable post-works BTL yield cannot be established.

Flip Analysis

The base resale value is estimated at £200,000 from the supplied same-street sales. A flip surplus cannot be calculated because no supported refurbishment allowance, selling costs or seller fees are provided. The complete modernisation requirement creates substantial execution and margin risk.

Investor Risks & Due Diligence

• The property is described as requiring complete modernisation and repair, but the extent and cost of works are unknown.

• The £2,250 pcm figure is an advertised asking rent rather than an achieved or passing rent.

• The comparable sales vary from £180,000 to £250,000, creating valuation uncertainty.

• The seller may charge additional fees under the special conditions, but no amount is supplied.

• The property includes a triple-chamber cellar, but its condition and any associated requirements are not evidenced.

Recommendation

Proceed only after a full survey, detailed refurbishment quotation and review of the special conditions. Do not rely on the headline rental yield; the investment case is too uncertain to set a defensible bid from the supplied evidence alone.

Strategy Rating

Analysis Confidence

There is useful same-street sold-price evidence and one rental asking listing, but no refurbishment costings, survey detail, achieved rent, selling costs, finance costs or applicable seller fees.