38 Lynton Avenue, Hull, North Humberside, HU5 3TH

Description

A Vacant Three Bedroom Mid Terrace House in Need of Refurbishment. The property comprises a three bedroom mid terrace house arranged over ground and first floors. By Order of the Executors.

Accommodation

Ground Floor: Two Reception Rooms, Kitchen, WC. First Floor: Three Bedrooms, Shower Room. Exterior: front and rear gardens.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Pearson Park are within easy reach. Transport links are provided by Hull rail station.

Tenure / Property Information

Investment Analysis

Same-street completed sales range from £80,000 to £167,000. Four more recent sales are between £147,500 and £167,000, supporting an indicative base GDV of £160,000, subject to the property's refurbishment condition. The £80,000 sale demonstrates downside evidence but its lower price may not be directly comparable without further detail.

Investment Snapshot

Strategy Recommendation

Proceed only subject to satisfactory inspection and legal-pack review. Do not commit to a maximum bid until the refurbishment scope, disbursements and achievable rent are verified.

Works Required

Refurbishment is required, but the supplied evidence does not identify the specific works or provide cost allowances. Inspection and review of the legal pack are required before budgeting.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £90,000 guide, 75% of the base GDV is approximately £120,000. A BRRR assessment cannot be completed reliably because refurbishment costs, acquisition disbursements, finance costs and achievable rent are not supplied. The apparent refinance margin is therefore not evidence of profit or available cash.

Buy-to-Let Analysis

Advertised rental evidence ranges from £355 to £685 pcm, producing an indicative gross yield range of approximately 4.73% to 9.13% against the £90,000 guide. These are asking rents, not achieved rents, and the wide range means a reliable rent or net yield cannot be established. Refurbishment costs and property running costs are also unknown.

Flip Analysis

The base GDV estimate is £160,000, based primarily on recent same-street sales. Flip profitability cannot be calculated because refurbishment costs, selling costs and other completion costs are unavailable. The property is expressly described as needing refurbishment, creating material cost uncertainty.

Investor Risks & Due Diligence

• Refurbishment is required but the scope and cost are unknown.

• Rental evidence is widely dispersed and comprises advertised asking rents rather than achieved rents.

• Disbursements and other purchaser charges may apply under the special conditions and are not quantified.

• The £80,000 same-street completed sale indicates potential downside in the evidence set.

• No EPC, heating, parking, council tax or other property-operating information is supplied.

Recommendation

Proceed only subject to satisfactory inspection and legal-pack review. Do not commit to a maximum bid until the refurbishment scope, disbursements and achievable rent are verified.

Strategy Rating

Analysis Confidence

There are several relevant same-street completed sales and two rental adverts, but refurbishment scope and costs, EPC, services, legal-pack charges, achievable rent and operating costs are not provided.