29 Montreal Street, Carlisle, Cumbria CA2 4EE

Description

A two bedroomed mid terraced house situated on the south side of the City. The property is in basic order throughout and requires a thorough programme of modernisation. It offers good potential and comprises sitting room, kitchen, bathroom, two bedrooms and WC upstairs, forecourt and overgrown rear yard.

Accommodation

Ground Floor: Sitting Room 12'6 x 12'6; L shaped Kitchen 12'6 x 9'3 max; Bathroom. First Floor: Front Bedroom 12'6 x 11'3; Rear Bedroom 9'3 x 7'9; WC. Outside: Forecourt and overgrown rear yard.

Location

Situated on the south side of the City.

Tenure / Property Information

Investment Analysis

Same-street completed sales range from £82,500 to £120,000. A central evidence-based GDV estimate is £100,000, subject to the property’s modernisation requirement and differences in comparable condition.

Investment Snapshot

Strategy Recommendation

Proceed only after inspecting the property, confirming tenure and legal-pack costs, and obtaining a detailed modernisation budget. The low guide relative to same-street sales warrants further investigation but does not establish a safe maximum bid.

Works Required

Thorough modernisation as described, including updating the kitchen, bathroom, WC and general internal finishes, plus clearance of the overgrown rear yard. Scope and cost require inspection and quotations.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

The indicative 75% refinance of the £100,000 base GDV is £75,000. BRRR viability cannot be established because refurbishment costs, total project costs, tenure and legal-pack liabilities are unavailable.

Buy-to-Let Analysis

The supplied advertised asking rent is £750 pcm, equating to £9,000 annually. Against the £40,000 midpoint guide price, this indicates a 22.5% gross yield before modernisation, fees, finance and operating costs. Achieved rent is unverified.

Flip Analysis

Completed same-street evidence supports a £82,500–£120,000 resale range, with £100,000 as a central estimate. Flip surplus cannot be calculated without refurbishment costs, full acquisition costs and selling costs.

Investor Risks & Due Diligence

• The property requires a thorough programme of modernisation, but no refurbishment quotation or cost evidence is supplied.

• Tenure and lease information are stated to be in the legal pack and remain unconfirmed.

• Special-condition fees, disbursements and seller costs may be payable but are unspecified.

• The rent is an advertised asking rent rather than an achieved passing rent.

• Comparable sale condition and specifications are not supplied, so their GDV applicability is uncertain.

Recommendation

Proceed only after inspecting the property, confirming tenure and legal-pack costs, and obtaining a detailed modernisation budget. The low guide relative to same-street sales warrants further investigation but does not establish a safe maximum bid.

Strategy Rating

Analysis Confidence

There are five relevant completed same-street sales and one advertised rent, but refurbishment costs, tenure, legal-pack liabilities, property condition detail and achieved rent are unavailable.