25 Eyres Avenue, Leeds, West Yorkshire, LS12 3BA

Description

This two bedroom, back to back terrace is in poor internal condition, so will be ideal for an investor seeking a project and would make an excellent rental investment once renovated. Auction House has been unable to inspect the property internally and therefore cannot accurately confirm the property layout. The property has been reported as unsafe to enter, so no viewings will be available. A 14 day completion applies to this lot.

Accommodation

Ground Floor: Living room and kitchen. First Floor: Not inspected. Second Floor: Not inspected. Externally: Front garden.

Location

Situated within Armley, which is two miles west of Leeds. Leeds city centre is a short distance away, with a train station, shops, restaurants and amenities. The property is within easy reach of the Leeds Liverpool canal, Armley Park and numerous schools.

Tenure / Property Information

Investment Analysis

Same-street HM Land Registry comparables for freehold terraces range from £81,000 to £132,000, with a simple average of £103,000. These sales are dated 2020–2022 and bedroom details are not supplied, so the GDV range is indicative only. The £65,000 guide becomes £68,660 after the stated £1,560 buyer premium and £2,100 minimum administration charge, before works and other possible disbursements.

Investment Snapshot

Strategy Recommendation

Only consider as a tightly controlled refurbishment purchase after reviewing the legal pack, special conditions and any available safety information. Do not rely on the upper GDV or rent evidence, and do not bid without an independently supported works budget and contingency.

Works Required

Renovation is indicated because the property is described as being in poor internal condition. No specific defects, structural scope or cost allowance can be established because the property was not inspected and is reported unsafe to enter. A full professional inspection and layout verification are essential before committing.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A potential purchase-refurbish-refinance route exists because the guide is below the supplied same-street sale range. However, refurbishment cost is wholly unquantified, the property cannot be viewed, its layout is unconfirmed and the 14-day completion period increases execution risk. At the £103,000 base GDV, 75% refinance is £77,250, but cash required and equity released cannot be calculated without a supported works budget and full costs.

Buy-to-Let Analysis

The supplied two-bedroom asking rents range from £395 pcm for a terraced property to £795 pcm for a flat. This implies an illustrative gross yield of 7.29%–14.68% against the £65,000 guide, before refurbishment, finance, voids, management, maintenance and other costs. The evidence is asking-rent data rather than achieved rent, and the subject’s condition and layout are unconfirmed, so a reliable stabilised BTL yield cannot be established.

Flip Analysis

A resale value between £81,000 and £132,000 is indicated by the supplied same-street historic comparables, with a £103,000 arithmetic-average base case. Flip surplus cannot be calculated because refurbishment costs, selling costs and the property’s actual condition are unknown. The upper comparable is from 2022 and may not represent current value.

Investor Risks & Due Diligence

• The property is reported unsafe to enter and no internal viewing is available.

• Internal condition, layout and potential structural requirements cannot be verified.

• A 14-day completion period applies.

• Refurbishment costs cannot be estimated from the supplied evidence.

• Additional search, seller, legal, transfer and other disbursement costs may apply.

• Rental evidence consists only of advertised asking rents and spans £395–£795 pcm.

• The completed sales are from 2020–2022 and may not reflect current market value.

Recommendation

Only consider as a tightly controlled refurbishment purchase after reviewing the legal pack, special conditions and any available safety information. Do not rely on the upper GDV or rent evidence, and do not bid without an independently supported works budget and contingency.

Strategy Rating

Analysis Confidence

There are several same-street completed sales and two rent advertisements, but the sales are historic, rent evidence conflicts, the property is unsafe to enter, the layout is unconfirmed and no refurbishment cost or full property inspection is available.