2 Elizabeth Terrace, Maryport, Cumbria, CA15 7BB

Description

A Vacant Two Bedroom Mid Terrace House in Need of Refurbishment.

Accommodation

Ground Floor: Two Reception Rooms, Kitchen. First Floor: Two Bedrooms, Bathroom. Exterior: Rear yard.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Maryport Marina are within easy reach. Transport links are provided by Maryport rail station.

Tenure / Property Information

Investment Analysis

Five same-street freehold terraced sales range from £90,000 to £140,000, with a simple average of £112,600 and a median of £112,000. A base GDV of £112,000 is used, subject to the important limitation that the sold comparables' condition and specification are not supplied and this property is explicitly in need of refurbishment.

Investment Snapshot

Strategy Recommendation

Proceed only subject to survey, refurbishment quotations and full legal-pack review. The apparent value gap makes a refurbishment-led resale or refinance worth investigating, but the evidence is insufficient to commit to a bid or strategy.

Works Required

Refurbishment is required, but the evidence does not identify specific defects or provide a scope. Obtain a survey and legal-pack review before budgeting for internal, kitchen, bathroom, decoration, services and external-yard works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £50,000 guide, the price is materially below the £112,000 base same-street sales indication before refurbishment and transaction costs. However, refurbishment costs, finance costs, rent and legal-pack disbursements are unknown, so refinance viability and cash left in cannot be calculated. A 75% refinance of the base GDV would be approximately £84,000.

Buy-to-Let Analysis

BTL cannot be properly assessed because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. The £1,800 inc VAT administration charge would also apply in addition to the purchase price, with possible further disbursements under the legal pack.

Flip Analysis

The guide price plus the known £1,800 administration charge is £51,800 before refurbishment and any other costs. The same-street sales indicate potential resale value between £90,000 and £140,000, but no supported refurbishment budget, selling allowance or condition-adjusted GDV is available; therefore flip surplus and a maximum bid cannot be calculated reliably.

Investor Risks & Due Diligence

• The property is stated to need refurbishment, but the extent and cost of works are unknown.

• Sold comparable condition, size and specification are not supplied, so the GDV may not be directly comparable.

• No reliable rental evidence is available, preventing a BTL yield assessment.

• The £1,800 administration charge is known, but additional legal-pack disbursements may be payable.

• No EPC, heating, parking, council-tax or other technical property information is supplied.

Recommendation

Proceed only subject to survey, refurbishment quotations and full legal-pack review. The apparent value gap makes a refurbishment-led resale or refinance worth investigating, but the evidence is insufficient to commit to a bid or strategy.

Strategy Rating

Analysis Confidence

Same-street sold comparables and the guide price are available, but property condition detail, rental evidence, refurbishment costs, EPC, finance assumptions and full purchaser disbursements are missing.