21, Monach Road, HARTLEPOOL, Cleveland, TS25 3QW

Description

A tenanted, three-bedroom property set within a popular residential area with a good range of local shopping facilities and schools within walking distance. The property is fitted with UPVC double glazed windows, gas fired central heating and is sold with a long-standing tenant in situ. The current tenancy agreement is on a rolling contract from August 2016 and has recently had a rental increase to £565 per calendar month. The location provides easy access via the A689 to the A19 for fast travelling to Teesside, Sunderland and Newcastle. Durham Tees Valley and Newcastle International Airports are within comfortable driving distance.

Accommodation

Ground Floor: Entrance Hall, Lounge and Dining Kitchen. First Floor: Landing, Three Bedrooms, Bathroom and Separate W/C. External: Gardens to the Front and Rear.

Location

Popular residential area with a good range of local shopping facilities and schools within walking distance. Easy access via the A689 to the A19 for fast travelling to Teesside, Sunderland and Newcastle. Durham Tees Valley and Newcastle International Airports are within comfortable driving distance.

Tenure / Property Information

Investment Analysis

Comparable evidence on Monach Road ranges from £80,200 at 23 Monach Road in 2023 to £107,500 at 5 Monach Road in 2026. The subject itself sold for £65,500 in 2015, while 1 Monach Road sold for £90,000 in 2019. A base GDV of £90,000 is used, with £80,200 as a low scenario and £107,500 as a high scenario. These are indicative scenarios only because comparable condition, specification and transaction circumstances are not supplied.

Investment Snapshot

Strategy Recommendation

Buy-to-let hold is the most evidence-supported strategy, subject to tenancy, legal and property-condition checks. The headline gross yield is strong at the guide price, while BRRR offers potential equity release but depends on the refinance valuation and lender acceptance.

Works Required

No specific defects or required works are evidenced. Allowance should be made for inspection and any works identified, particularly given the EPC E rating, but no refurbishment cost is assumed in the calculations.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £90,000 base GDV, 75% refinance is approximately £67,500. Against the guide price plus the known £1,800 administration charge, and with no evidenced works allowance, the indicative amount left in before finance and tax is negative £13,700. The calculation excludes lender, legal, valuation, refinancing and other completion costs, and the achievable refinance depends on valuation and lender treatment of the existing tenancy.

Buy-to-Let Analysis

At the current rent of £565 pcm, annual gross rent is £6,780. Against the £52,000 guide, the gross yield is approximately 13.04%, reducing to 12.60% including the £1,800 buyer administration charge. This excludes unknown seller fees, management, maintenance, insurance, voids, tax and finance costs. The existing long-standing tenant provides occupancy, but tenancy terms and rent sustainability should be verified.

Flip Analysis

The base GDV of £90,000 exceeds the guide price plus the known £1,800 administration charge by £36,200 before selling costs, finance, tax and any works. A formal flip surplus cannot be calculated because no selling allowance, finance costs or refurbishment costs are supplied. The property is tenanted, which may affect vacant-possession resale strategy.

Investor Risks & Due Diligence

• The property is sold tenanted on a rolling tenancy from August 2016; tenancy terms, compliance and possession position require verification.

• EPC rating is E, but the cost and scope of any required improvement works are unknown.

• Additional seller fees may apply under the Special Conditions of Sale and are not included.

• The comparable sales differ in date and their condition, size and specification are not supplied.

• Gross yield calculations exclude management, maintenance, insurance, voids, tax, finance and other ownership costs.

• Refinance value and lender treatment of the existing tenancy are uncertain.

• The property condition has not been evidenced beyond the stated fittings and EPC rating.

Recommendation

Buy-to-let hold is the most evidence-supported strategy, subject to tenancy, legal and property-condition checks. The headline gross yield is strong at the guide price, while BRRR offers potential equity release but depends on the refinance valuation and lender acceptance.

Strategy Rating

Analysis Confidence

The analysis has a current passing rent, known guide price and buyer charge, multiple same-street sold comparables and clear tenancy/tenure information. Confidence is reduced by the absence of inspection details, refurbishment costs, seller fees, operating costs, finance terms and confirmed parking information.