35 Charlotte Street, Folkestone, Kent

Description

An end-terrace, two-bedroom house located in Charlotte Street, within close proximity of Tontine Street which leads down to the harbour, harbour arm and the Old High Street.

Accommodation

Ground Floor: Living room, kitchen and bathroom with W.C. First Floor: Two bedrooms. Outside: Courtyard garden.

Location

Close to the harbour arm; within close proximity of Tontine Street, which leads down to the harbour, harbour arm and the Old High Street.

Tenure / Property Information

Investment Analysis

Five supplied same-street freehold terraced sales range from £153,000 to £200,000. The evidence does not provide floor areas, internal condition or specification, so a precise valuation is not possible. A cautious base GDV of £185,000 is used, with £153,000 low and £200,000 high scenarios. The £100,000-£105,000 guide indicates substantial apparent value before works, fees and other acquisition costs, but this is not a formal valuation.

Investment Snapshot

Strategy Recommendation

Proceed only as a diligence-led potential BTL/BRRR or resale opportunity at a disciplined bid level. Do not bid until condition, legal documents, all non-optional fees, achievable rent and works costs are confirmed.

Works Required

No specific defects or refurbishment requirements are evidenced. Obtain a full inspection and budget only for confirmed structural, damp, service, compliance, repair or cosmetic works. Review the vacant possession and legal documentation before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £185,000 base GDV, 75% of GDV is £138,750. This is above the lower guide but does not establish available refinance proceeds because refurbishment costs, auction charges, valuation, lending terms and finance costs are unknown. The strategy requires inspection, legal review and a confirmed works budget before bidding.

Buy-to-Let Analysis

The supplied asking-rent evidence is £750-£1,200 pcm, implying gross yields of approximately 9.0%-14.4% against the £100,000 lower guide before works, finance, tax, voids, management and unknown auction costs. The £1,200 figure is an advertised asking rent, not achieved rent, and the evidence is insufficient to establish a reliable net yield.

Flip Analysis

Using the £100,000 lower guide and £185,000 base GDV suggests a £85,000 headline value gap before works, acquisition costs, finance, selling costs and tax. No supported refurbishment or selling allowance is available, so a reliable flip surplus and maximum bid cannot be calculated.

Investor Risks & Due Diligence

• Internal condition and required works are not evidenced, preventing a refurbishment budget.

• Buyer administration and other non-optional fees are unspecified and may be payable in addition to the bid.

• Rental evidence comprises advertised asking rents rather than achieved rents and ranges from £750 to £1,200 pcm.

• Comparable sales range widely from £153,000 to £200,000, with no supplied information on size, condition or specification.

• Stamp Duty, Land Registry fees, VAT and search or other repayment costs may apply.

• Parking information is not supplied.

• Refinance at 75% of GDV is not guaranteed and depends on valuation, lender criteria and project costs.

Recommendation

Proceed only as a diligence-led potential BTL/BRRR or resale opportunity at a disciplined bid level. Do not bid until condition, legal documents, all non-optional fees, achievable rent and works costs are confirmed.

Strategy Rating

Analysis Confidence

Same-street sold comparables and two advertised rental figures are available, but floor areas, condition, works, fees, parking details and achieved rent are not supplied.