3 Sydenham Road, Hartlepool, Cleveland, TS25 1QA

Description

A spacious three bedroom mid terraced property, located in a popular residential area of Hartlepool, close to the town centre and with easy access to Hartlepool Marina. The property has been renovated by the present owner and is currently tenanted, providing a gross rental income of £550pcm/£6,600 per annum gross. The property benefits from gas central heating and UPVC double glazing.

Accommodation

Ground floor: Entrance Lobby, Living Room, Kitchen and Bathroom. First floor: Bedroom 1, Bedroom 2 and Bedroom 3. Outside: private yard to the rear and palisade to the front.

Location

Located in a popular residential area of Hartlepool, close to the town centre and with easy access to Hartlepool Marina.

Tenure / Property Information

Investment Analysis

The evidence shows a wide range of same-road completed sales from £30,000 to £116,000. The most recent relevant evidence includes £66,000 for 11 Sydenham Road and £116,000 for 31 Sydenham Road, while other sales range from £37,000 to £51,000. Given the subject is described as renovated but no size, condition schedule or detailed specification is supplied, £66,000 is used as a cautious base GDV, with £51,000 low and £116,000 high scenarios. These scenarios remain uncertain because the condition and specification of the comparables are not provided.

Investment Snapshot

Strategy Recommendation

Potential BTL or BRRR purchase at or near the guide, subject to tenancy, rent, legal and property-condition verification. Do not rely on the £116,000 comparable without evidence that the subject matches its condition and specification.

Works Required

No specific works are evidenced. The property is described as renovated and benefits from gas central heating and UPVC double glazing. Allow for inspection, compliance checks and any tenant-related remedial works only after viewing and reviewing documentation; no refurbishment allowance is included in the calculations.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £66,000 base GDV, 75% refinance proceeds would be approximately £49,500. Against a base cost of £43,550, comprising the guide price and known buyer/admin charges with no refurbishment allowance, this indicates approximately £5,950 of theoretical surplus before finance costs, tax, valuation, legal and refinance costs. The result is highly dependent on the achievable valuation and lender treatment of the existing tenancy.

Buy-to-Let Analysis

At the current gross rent of £550 pcm, annual gross rent is £6,600. This produces a 16.52% gross yield on the £39,950 guide and approximately 15.16% on the purchase price plus the known £1,800 buyer premium minimum and £1,800 admin charge. Using the advertised £695 pcm rental evidence would imply higher gross figures, but this is an asking rent rather than achieved rent. Net yield cannot be established because operating costs, tax, insurance, maintenance, voids and management costs are not supplied. Existing tenancy terms and rent payment history require verification.

Flip Analysis

A base GDV of £66,000 compared with the £43,550 base acquisition cost indicates £22,450 before selling costs, finance, tax and any works. A formal flip surplus is not stated because no supported selling-cost allowance or finance assumptions are supplied. The wide comparable range creates substantial resale-value risk.

Investor Risks & Due Diligence

• The property is currently tenanted, but tenancy terms, deposit position, arrears and rent payment history are not supplied.

• The £695 pcm figure is an advertised asking rent, not an achieved rent.

• Same-road completed sales range widely from £30,000 to £116,000, with no comparable condition or specification details.

• Additional auction charges may include searches, seller-cost reimbursement, legal fees and transfer fees, but amounts are unknown.

• No EPC, council tax, floor area, detailed condition report or operating-cost information is supplied.

• The theoretical refinance outcome depends on a lender achieving a valuation at or above the £66,000 base GDV.

Recommendation

Potential BTL or BRRR purchase at or near the guide, subject to tenancy, rent, legal and property-condition verification. Do not rely on the £116,000 comparable without evidence that the subject matches its condition and specification.

Strategy Rating

Analysis Confidence

There is useful same-road completed-sales evidence, current rent evidence and clear known auction charges, but comparable values vary substantially and there is no EPC, floor area, tenancy documentation, detailed condition report, operating-cost data or supported selling-cost evidence.