36 Garnett Street, Barrowford, Nelson, Lancashire

Description

Tenanted two bed mid terrace house. Not yet inspected by Auction House. Property is 64m² as taken from EPC. Enclosed paved yard to the rear.

Accommodation

UPVC entrance door leading into lounge, dining kitchen, staircase leading to the first floor, bedroom one, bedroom two and bathroom.

Tenure / Property Information

Investment Analysis

The five supplied completed sales range from £55,000 to £115,000. The four sales from July 2024 to August 2025 range from £85,000 to £115,000, with an average of approximately £106,250. A cautious base GDV of £105,000 is adopted, with a low scenario of £85,000 and high scenario of £115,000. This is only an evidence-based estimate because the subject has not been inspected and its condition, tenant terms and exact specification are not confirmed.

Investment Snapshot

Strategy Recommendation

Investigate as a potential buy-to-let only, subject to confirming the passing rent, tenancy terms, property condition, legal pack and all auction costs. Do not bid on a refurbishment or flip assumption without inspection evidence.

Works Required

No refurbishment allowance is supported because the property has not yet been inspected and no defects are reported. Obtain an inspection, verify the EPC and condition, and undertake only evidenced repairs or compliance works after review of the legal pack and tenancy information.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £105,000 base GDV, a 75% refinance would be approximately £78,750. However, refurbishment costs are unknown because the property has not been inspected, and total acquisition costs are incomplete due to the unspecified buyer premium and disbursements. Cash left in and equity cannot therefore be reliably calculated.

Buy-to-Let Analysis

The supplied advertised rents are £565–£875 pcm, equivalent to £6,780–£10,500 annually. Against the £78,000 guide alone, this indicates a gross yield range of approximately 8.69%–13.46%, before administration charges, buyer premium, disbursements, finance, maintenance, voids, management and tax. No passing rent is supplied, so the investment case cannot be confirmed until the tenancy agreement and rent payment history are reviewed.

Flip Analysis

The recent supplied sales support a broad resale indication of £85,000–£115,000, with a cautious base of £105,000. A flip surplus cannot be calculated because works, buyer costs, disbursements and selling costs are not fully supported. The subject is tenanted and uninspected, increasing execution uncertainty.

Investor Risks & Due Diligence

• The property has not yet been inspected, so condition and required works are unknown.

• No passing rent, tenancy agreement or rent payment history is supplied; rental evidence is advertised asking rent only.

• Buyer premium and disbursements are unspecified, while the administration charge has a £3,600 minimum.

• The property is tenanted, so possession, tenant compliance and tenancy terms require legal and management review.

• Comparable sale prices vary materially, including a £55,000 2023 sale, creating valuation uncertainty.

• The subject is leasehold; although the lease term is stated as 999 years from 1988 and ground rent is £3.19, other lease obligations are not supplied.

Recommendation

Investigate as a potential buy-to-let only, subject to confirming the passing rent, tenancy terms, property condition, legal pack and all auction costs. Do not bid on a refurbishment or flip assumption without inspection evidence.

Strategy Rating

Analysis Confidence

There are five relevant completed sales and two advertised rental comparables, but the property is uninspected, no passing rent is supplied, condition and refurbishment costs are unknown, and several auction charges remain unspecified.