21 Monach Road, HARTLEPOOL, Cleveland

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 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 local shopping facilities and schools within walking distance. Easy access via the A689 to the A19 for travel to Teesside, Sunderland and Newcastle. Durham Tees Valley and Newcastle International Airports are within comfortable driving distance.

Tenure / Property Information

Investment Analysis

Sold evidence on Monach Road ranges from £80,200 for No. 23 in 2023 to £107,500 for No. 5 in 2026, with No. 21 previously selling for £65,500 in 2015. A base GDV estimate of £90,000 is used, with £80,200 low and £107,500 high scenarios. The range reflects limited evidence and differing sale dates; property condition is not supplied.

Investment Snapshot

Strategy Recommendation

Consider as a buy-to-let at or near the guide, subject to tenancy documents, property inspection and confirmation of any seller fees. The existing rent supports a strong headline yield, but the tenant's actual passing rent should be prioritised over advertised asking rents.

Works Required

No specific repair or refurbishment works are evidenced. The property should be inspected before bidding, particularly given the EPC E rating. No refurbishment allowance has been included 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% indicative refinancing is £67,500. Against the £53,800 purchase price plus known documentation fee, this indicates £13,700 cash left in before finance costs, tax, legal costs, valuation costs, lender fees and any works. The result depends materially on achievable valuation and refinancing terms.

Buy-to-Let Analysis

At the £52,000 guide, the current rent of £565 pcm produces £6,780 annual rent and a gross yield of 13.04%. Including the known £1,800 documentation fee, the gross yield is 12.60%. Advertised local rents range from £600 to £900 pcm, but these are asking rents rather than achieved rents, and the existing tenancy should be assessed before relying on any increase.

Flip Analysis

The base GDV estimate is £90,000 against a known acquisition cost of £53,800 including the documentation fee. This indicates £36,200 before selling costs, finance, tax and refurbishment. A formal flip surplus is not calculated because no supported selling-cost allowance or refurbishment cost is available.

Investor Risks & Due Diligence

• The property is occupied by a long-standing tenant on a rolling tenancy, so possession, tenancy terms and rent review options require verification.

• The current rent of £565 pcm is below the supplied advertised asking rents of £600 to £900 pcm; asking rents are not achieved rents.

• The EPC is rated E.

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

• No property condition or refurbishment cost evidence is supplied.

• The sold comparables show a wide range of values and differing sale dates, creating GDV uncertainty.

• Parking details are not supplied and require confirmation from the auction centre.

Recommendation

Consider as a buy-to-let at or near the guide, subject to tenancy documents, property inspection and confirmation of any seller fees. The existing rent supports a strong headline yield, but the tenant's actual passing rent should be prioritised over advertised asking rents.

Strategy Rating

Analysis Confidence

The analysis has a known guide price, documentation fee, tenancy rent and several same-road sold comparables, but condition, property type, parking, seller fees, refurbishment requirements and achieved market rent are not fully evidenced.