243 Halstead Road, Frinton-on-Sea, Essex

Description

A two storey detached house in need of modernisation. Benefitting from off-street parking, detached garage and rear garden.

Accommodation

Ground floor - Entrance hallway, Kitchen, Reception room, Conservatory, Shower /WC First floor - Three bedrooms, Bathroom /WC

Location

Convenient access to Frinton-on-Sea, Walton-on-the-Naze and the wider Tendring coastline. Kirby Cross railway station provides rail services towards Colchester and London, with further services from Frinton-on-Sea station. Good road connections via the A133 and A120, providing access across Essex. Local shopping and everyday amenities available in Kirby Cross, Frinton-on-Sea and Walton-on-the-Naze. Close to the Essex coastline, beaches and coastal walking routes.

Tenure / Property Information

Investment Analysis

Completed sales evidence comprises detached freehold properties on Halstead Road at £255,000 in 2016 and £280,000 in 2018, plus older sales. However, the evidence is dated and does not establish the condition, accommodation or modernisation level of those properties. The subject is described as needing modernisation, while current market evidence, a formal valuation and a supported GDV are absent. The £225,000 guide is not a valuation and excludes the buyer fee and potentially VAT.

Investment Snapshot

Strategy Recommendation

Do not commit to a bid based on the supplied evidence alone. Obtain a survey, current valuation, detailed refurbishment quotation, rental assessment and confirmation of buyer and seller charges before considering purchase.

Works Required

Modernisation of the house is indicated, but the evidence does not specify the required works. A survey and inspection should establish the scope and cost before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed reliably. The refurbishment scope and cost, current GDV, rent and refinance value are all unsupported. The dated same-road sales do not provide sufficient evidence for a refinance calculation.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental comparables or auctioneer rent estimate are provided. Gross yield, operating costs and investment returns therefore remain unsupported.

Flip Analysis

A flip analysis cannot be quantified. Although same-road detached sales reached £255,000 in 2016 and £280,000 in 2018, they are dated and their condition is unknown. No supported refurbishment budget, current GDV or selling allowance is available.

Investor Risks & Due Diligence

• The house is described as needing modernisation, but the extent and cost of works are unknown.

• Available sold comparables are dated, with the latest supplied sale completing in 2018, and their condition is not provided.

• No sufficiently specific rental evidence or auctioneer rent estimate is available.

• The buyer fee, VAT position and any seller charges are not quantified.

• The guide price is not a formal valuation and may not reflect the property's current market value.

Recommendation

Do not commit to a bid based on the supplied evidence alone. Obtain a survey, current valuation, detailed refurbishment quotation, rental assessment and confirmation of buyer and seller charges before considering purchase.

Strategy Rating

Analysis Confidence

The property description and tenure/occupancy are clear, but current comparable evidence, condition detail, refurbishment costs, rental evidence, valuation and auction charges are materially incomplete.