20 Mary Street, Neath, West Glamorgan

Description

Recently refurbished throughout. Two bedroom mid terrace property comprising an entrance hallway, lounge/dining room, kitchen, store cupboard under the stairs and rear hallway to the ground floor. The first floor comprises two double bedrooms and a bathroom. Externally, the property benefits from an enclosed rear garden. Cash buyers recommended.

Accommodation

Entrance hallway, lounge/dining room, kitchen, store cupboard under the stairs and rear hallway on the ground floor; two double bedrooms and a bathroom on the first floor; enclosed rear garden.

Location

Conveniently located for commuters with great links to the bus station, main line train station and M4 corridor via the A465.

Tenure / Property Information

Investment Analysis

The subject is described as recently refurbished, but no size, condition report or achieved valuation is supplied. Same-street freehold terraced sales range from £57,500 to £120,000: £76,000 at 16 Mary Street is the closest central reference, while £120,000 appears an upper outlier without comparable specification evidence. A cautious HB range is £57,500–£92,500, with £76,000 as the base GDV. The £65,000 guide is below the base GDV, but the valuation remains uncertain because the comparables' accommodation and condition are not provided.

Investment Snapshot

Strategy Recommendation

Potentially pursue as a cautious BTL or light-touch BRRR only if the legal pack, refurbishment quality and achievable rent are validated. Do not rely on the upper GDV or upper rent evidence, and do not bid above a separately calculated maximum after finance, tax and selling-cost assumptions.

Works Required

No specific remedial works are evidenced because the property is described as recently refurbished throughout. Allowance used is £0, subject to survey and verification of the refurbishment. EPC E may warrant further investigation, but no improvement works or costs are assumed.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £65,000 guide, the analysis includes the known £1,800 inclusive-of-VAT contract documentation fee and no works allowance, giving a base cost of £66,800 before any seller fees, finance, tax or other costs. A 75% refinance of the £76,000 base GDV is £57,000, leaving indicative cash of £9,800 in before finance and tax. The strategy is highly dependent on confirming GDV, refurbishment quality and achievable rent.

Buy-to-Let Analysis

Using the two advertised asking rents only, gross rent is £5,700–£13,800 annually. This implies approximately 8.77%–21.23% gross yield on the £65,000 guide, or 8.53%–20.66% on the £66,800 purchase-plus-known-admin-cost figure. The rent evidence is very broad and neither figure is an achieved rent, so rent and affordability require validation.

Flip Analysis

On the base scenario, £76,000 GDV less £66,800 purchase and known admin cost produces £9,200 before selling costs, finance, tax and any unquantified seller fees. No supported selling allowance is available, so a true flip surplus cannot be established. The broad comparable range creates meaningful downside risk.

Investor Risks & Due Diligence

• The two rental asking rents range from £475 to £1,150 pcm and are not achieved rents.

• Comparable sale prices range widely and no comparable sizes or condition details are supplied.

• The seller may charge additional completion fees under the Special Conditions of Sale, but the amount is unknown.

• EPC is stated as E and no improvement requirements or costs are supplied.

• Parking and heating details require confirmation from the auction centre.

• Council Tax is inconsistently reported as Band B and Band E.

• Cash buyers are recommended, which may restrict finance availability or indicate auction-specific funding constraints.

Recommendation

Potentially pursue as a cautious BTL or light-touch BRRR only if the legal pack, refurbishment quality and achievable rent are validated. Do not rely on the upper GDV or upper rent evidence, and do not bid above a separately calculated maximum after finance, tax and selling-cost assumptions.

Strategy Rating

Analysis Confidence

There are several recent same-street completed sales and two advertised rental references, but comparable specifications, achieved rent, condition verification, seller fees, parking, heating and occupancy details are incomplete or uncertain.