267 Milburn Road, Ashington, Northumberland, NE63 0NF

Description

A two bedroom terraced property situated on Milburn Road in Ashington, currently tenanted producing approximately £500 pcm with potential to increase. The ground floor comprises a large lounge, fitted kitchen, separate utility room and downstairs bathroom. The first floor has two bedrooms. Externally, there is a rear yard and on-street parking.

Accommodation

Large lounge, fitted kitchen, separate utility room, downstairs bathroom and two bedrooms.

Location

Located within an established residential area of Ashington, within easy reach of local shops, schools and everyday amenities, with transport links to surrounding towns and the wider Northumberland area.

Tenure / Property Information

Investment Analysis

The strongest completed-sale evidence is £80,000 for 265 and 289 Milburn Road, both terraced freeholds. Lower sales at £38,000 and £51,000 indicate significant condition or specification variation, although the evidence does not explain the differences. The subject property previously sold for £56,000 in 2021. A base GDV of £80,000 is supportable from the two nearby 2025 comparables, with £56,000 used as a low evidence scenario. The £70,000 guide appears potentially attractive only if the property condition, tenancy and legal position are satisfactory; the upper guide range leaves limited apparent value against the £80,000 comparable evidence.

Investment Snapshot

Strategy Recommendation

Potential income hold only if acquired close to the lower guide and the tenancy, condition and legal documentation are satisfactory. Do not rely on the asking-rent uplift or proceed at the upper guide without stronger valuation and cost evidence.

Works Required

No specific defects or refurbishment requirements are evidenced. Obtain a full inspection and assess only evidenced requirements, together with tenant, compliance and repair information. The fitted kitchen, utility room, bathroom and EPC rating D are noted, but no upgrade allowance is assumed.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £70,000 lower guide, no refurbishment allowance, and the known £3,600 admin charge, the illustrative total is £73,600. A 75% refinance at the £80,000 base GDV would be £60,000, leaving approximately £13,600 before finance costs, tax, legal costs, unknown buyer premium and any works. This is not a guaranteed refinance or cash-out result; valuation, lending and tenancy evidence remain unconfirmed.

Buy-to-Let Analysis

At the £70,000 lower guide, the stated passing rent of £500 pcm produces £6,000 annual gross rent and an 8.57% gross yield before costs. Against the illustrative purchase-plus-known-admin total of £73,600, the gross yield is 8.15%. The £595 pcm figure is advertised asking-rent evidence rather than achieved rent, and the tenancy terms, arrears, deposit and maintenance liabilities are not supplied. At the upper guide, the passing-rent yield would be lower.

Flip Analysis

The £80,000 base GDV is supported by the two nearby £80,000 completed sales. On a £70,000 purchase plus the known £3,600 admin charge, the apparent pre-selling-cost surplus is £6,400 before works, buyer premium, legal costs, finance, tax and selling costs. Because no selling allowance or refurbishment cost is supplied, a reliable flip surplus cannot be established.

Investor Risks & Due Diligence

• The current tenancy details, rent status, deposit, arrears and possession position are unknown.

• The £595 pcm figures are advertised asking rents, not achieved rents.

• Buyer premium and other auction disbursements are unspecified.

• No condition survey or refurbishment cost evidence is provided.

• Comparable sales range from £38,000 to £80,000, indicating material uncertainty in condition or specification.

• A 75% refinance assumption is illustrative only and is not guaranteed.

• The property has only on-street parking and an EPC rating D, as stated.

Recommendation

Potential income hold only if acquired close to the lower guide and the tenancy, condition and legal documentation are satisfactory. Do not rely on the asking-rent uplift or proceed at the upper guide without stronger valuation and cost evidence.

Strategy Rating

Analysis Confidence

There are several relevant completed sales and stated rent evidence, but condition, tenancy terms, buyer premium, refurbishment costs, council tax, heating, legal position and selling costs are not supplied.