31 Elm Street, Jarrow, Tyne And Wear, NE32 5JD

Description

Offered for sale by auction is this two bedroom terraced property on Elm Street, Jarrow. The property offers well sized accommodation and requires a full refurb throughout, providing an opportunity for buyers looking for a renovation project. The accommodation includes an entrance hall, living room, dining room and kitchen to the first floor, with two bedrooms and a bathroom to the second floor. The ground floor has an entrance hall, spacious living room, separate dining room and kitchen. The living room benefits from a front facing window, with the dining room and kitchen at the rear of the property. To the first floor are two bedrooms and the bathroom. Externally, there is an enclosed rear courtyard with on-street parking available. The property is conveniently located for Jarrow town centre, local shops, amenities and public transport links. This is a full refurbishment opportunity with potential to modernise and improve the property. Tenure: See Legal Pack EPC Rating: D

Accommodation

The supplied particulars indicate approximately 2 bedroom accommodation. Room layout, floor areas and dimensions should be confirmed from the auctioneer particulars, floor plan and inspection.

Location

Located in Jarrow, Tyne And Wear. Investor due diligence should test local transport, employment, amenities and tenant demand at the exact micro-location. Cross-check the postcode and legal title before bidding.

Investment Analysis

The figures below separate auctioneer/source facts from HB indicative estimates. HB figures are screening assumptions only and are not a RICS valuation, contractor quotation or lending decision.

Investment Snapshot

Strategy Recommendation

The initial strategy should be tested against condition, legal structure, works, rental evidence and comparable values before setting a maximum bid. The screening case depends on achieving a sufficient margin or sustainable income after all acquisition and holding costs.

Works Required

• Kitchen and bathroom modernisation review

• Electrical/heating testing and upgrades

• Decoration and flooring

• Roof, damp and structural inspection

Rental & Market Context

HB screening rent is approximately £350–£450 pcm (£4,200–£5,400 pa). Replace this with current local letting evidence. No reliable current rent was extracted from the supplied source.

Sold within approximately 5 miles

Reliable sold-property comparables were not collected from the supplied scrape. Check recent Land Registry evidence and closely comparable sold listings within approximately five miles, prioritising the same property type, size, tenure and condition.

Potential BRRR Position

Illustrative 75% refinance on the HB indicative value range is about £48,750–£58,500 against purchase + works of approximately £67,000–£80,000. Actual refinance depends on valuation, works, finance costs, rental stress testing and lender criteria.

Flip Analysis

The initial gross value spread is approximately £-15,000–£11,000 before acquisition/disposal costs. This is not profit and excludes SDLT, auction/admin fees, legal costs, finance, holding costs, insurance, utilities, professional fees, selling fees, contingency and tax.

Investor Risks & Due Diligence

• Review legal pack, title and special conditions

• Confirm auction fees and completion period

• Obtain survey and works quotations

• Verify finance before bidding

• Check rental and sold comparable evidence

Recommendation

Initial recommendation: BRRR or Refurbishment & Resale. Proceed only if the legal pack, condition, costs and local evidence support the required margin/yield. Treat the guide as a starting point rather than a valuation and set a disciplined maximum bid after due diligence.

Strategy Rating

• BRRR: ★★★★☆

• Flip: ★★★★☆

• Buy-to-Let: ★★★☆☆