2 Allan Hill, Flimby Brow, Flimby, Maryport, Cumbria CA15 8SZ

Description

A freehold, two bedroomed terraced house with long rear garden situated on the fringe of this coastal village between Maryport and Workington. A good investment property which is in need of general modernisation.

Accommodation

Ground Floor: Porch; Sitting Room 13'9 x 12'; Dining Room 10'3 x 8'9; Kitchen 9' x 6'3. First Floor: Front Bedroom 16' x 10'9; Rear Bedroom 10'3 x 8'9; Bathroom 9' x 6'3. Outside: Forecourt and long rear garden - see the title plan.

Location

Situated on the fringe of this coastal village between Maryport and Workington.

Tenure / Property Information

Investment Analysis

The £90,000 sale of 5 Allan Hill in 2016 is the strongest available comparable, while the same property sold for £52,500 in 2013. These are dated and do not confirm current value or the subject property's condition. A £90,000 base GDV is therefore indicative only.

Investment Snapshot

Strategy Recommendation

Investigate as a cautious buy-to-let or BRRR candidate only after survey, rent validation, refurbishment quotation and legal-pack review. Avoid bidding without a costed works budget.

Works Required

General modernisation as described, subject to inspection and the legal pack. No specific defects or works costs are evidenced.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A potential BRRR exists if the property can be acquired near guide, modernised economically and refinanced against a supported value. The £90,000 GDV and £67,500 refinance figure are indicative only; refurbishment costs, finance costs and legal-pack costs are unknown, so cash-left-in cannot be calculated.

Buy-to-Let Analysis

The £700 pcm figure is an advertised asking rent for a two-bedroom property in Bridekirk, not achieved rent in Flimby. At the £45,000 guide, this implies 18.67% gross yield before works, finance, voids and other costs. The yield cannot be reliably established for this property without local rental confirmation and a works budget.

Flip Analysis

A flip assessment cannot be completed reliably because refurbishment costs, selling costs and a current resale valuation are not supplied. The dated comparable evidence does not establish a supported resale surplus.

Investor Risks & Due Diligence

• General modernisation requirements are not costed.

• Rental evidence is an asking rent from Bridekirk rather than achieved rent in Flimby.

• Comparable sales are historical and relate to another property.

• Buyer/admin and possible legal-pack disbursements are not fully quantified.

• Freehold status is described but remains subject to the legal pack.

• Long rear garden and title boundaries should be verified against the title plan.

Recommendation

Investigate as a cautious buy-to-let or BRRR candidate only after survey, rent validation, refurbishment quotation and legal-pack review. Avoid bidding without a costed works budget.

Strategy Rating

Analysis Confidence

There is a same-street historical comparable and one rental asking figure, but no current comparable evidence, inspection detail, EPC, costs, passing rent or legal-pack information.