39 Cokefield Avenue, Southend-On-Sea, Essex

Description

Three bedroom freehold semi-detached house of non-standard construction for residential investment. This well presented three bedroom semi detached house is let to an established tenant, paying £1,192 pcm. The property is of non-standard construction, with a large living room and kitchen to the rear. It has external storage and WC, as well as a private garden and storage shed. It is a BISF House, of steel frame and a corrugated metal sheet roof. The property has been well maintained by the current tenant but does require improvement. Cash buyers only.

Accommodation

Ground floor: entrance hall; lounge measuring 13'9" × 11'6"; kitchen/diner measuring 20'8" × 10'6". First floor: landing; bedroom 1 measuring 13'5" x 7'9"; bedroom 2 measuring 13'5" x 11'6"; bedroom 3 measuring 8'9" x 8'3"; bathroom measuring 7'3" x 5'3". Externally: communal parking to the rear, good size garden, separate WC and two large storage spaces.

Location

Conveniently located within easy reach of Garons Sports & Leisure Centre, local shops and transport links.

Tenure / Property Information

Tenure	Freehold
Occupancy	Let to an established tenant
EPC	Current Rating D
Council Tax	Band A
Parking	Communal parking to the rear
Services	Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Investment Analysis

The strongest evidence is the same-road semi-detached freehold sales at £255,000 in July 2024 and £250,000 in April 2022. Older sales range from £170,000 to £220,000. The subject's non-standard BISF construction, cash-buyers-only requirement and stated need for improvement introduce material valuation and mortgageability uncertainty. An indicative base GDV of £240,000 is used, with a cautious £220,000 low case and £255,000 high case; these are estimates rather than formal valuations.

Investment Snapshot

Guide Price	£160,000 plus fees
HB Estimated GDV	£240,000
Estimated Monthly Rent	£1,192 – £1,600 pcm
Estimated Annual Rent	£14,304 pa
Gross Yield on Guide	8.9%

Strategy Recommendation

Consider as an income-led BTL only after reviewing the legal pack, tenancy, BISF construction and specialist inspection. Do not rely on BRRR refinancing or a flip until lending, works and resale assumptions are verified.

Works Required

The description supports improvement works only, without a detailed schedule or cost evidence. Obtain a specialist inspection of the BISF steel-frame and corrugated-metal construction, then scope the required internal improvements, any external works and compliance items. Do not assume structural or cosmetic defects beyond those identified by inspection.

Rental & Market Context

HB Estimated Market Rent

£1,192 – £1,600 pcm

Properties To Rent In Southend On Sea - Hopson Property Management Ltd — 3 bed — — Advertised asking rent

£1,600 pcm

Sold Comparables

The following completed sales were identified within approximately 5 miles:

23, Cokefield Avenue, Southend-On-Sea, Southend-On-Sea, Ss2 4pu 2024-07-26 · Semi-Detached · Freehold	£255,000
55, Cokefield Avenue, Southend-On-Sea, Southend-On-Sea, Ss2 4pu 2022-04-11 · Semi-Detached · Freehold	£250,000
37, Cokefield Avenue, Southend-On-Sea, Southend-On-Sea, Ss2 4pu 2020-02-04 · Semi-Detached · Freehold	£170,000
33, Cokefield Avenue, Southend-On-Sea, Southend-On-Sea, Ss2 4pu 2015-10-07 · Semi-Detached · Freehold	£220,000
33, Cokefield Avenue, Southend-On-Sea, Southend-On-Sea, Ss2 4pu 2015-05-29 · Semi-Detached · Freehold	£50,000

Potential BRRR Position

Base GDV	£240,000
75% Refinance	£180,000

A theoretical 75% refinance of the £240,000 base GDV is £180,000. However, the property is explicitly cash buyers only and is of non-standard BISF construction, so refinance availability, valuation and lending terms are uncertain. Works costs, legal-pack charges and total project cost are unavailable; therefore cash left in and BRRR viability cannot be established.

Buy-to-Let Analysis

At the £160,000 guide, the existing £1,192 pcm rent produces £14,304 annual rent and an indicative gross yield of 8.94% before fees, works, finance, tax and operating costs. The £1,600 pcm figure is an advertised asking rent, not achieved rent, so it should not be relied on without evidence of reletting or tenant affordability. The established tenant supports income continuity, but tenancy terms and payment history are not supplied.

Flip Analysis

The same-road evidence supports an indicative resale range of £220,000 to £255,000, with a £240,000 base GDV. A flip surplus cannot be calculated because refurbishment costs, selling costs and any required vacant-possession or tenant-related costs are not supplied. The existing tenant and cash-only restriction may also affect resale liquidity.

Investor Risks & Due Diligence

• Non-standard BISF steel-frame and corrugated-metal construction may restrict mortgage and refinance availability.

• The property is explicitly cash buyers only.

• The stated need for improvement has no detailed scope or cost estimate.

• Legal-pack disbursements and other purchaser charges are not quantified.

• The £1,600 pcm rental figure is an advertised asking rent rather than achieved rent.

• The property is tenanted, but tenancy terms, arrears position and vacant-possession requirements are not supplied.

• GDV evidence is limited to same-road sales and may not fully reflect this property's construction and condition.

Recommendation

Consider as an income-led BTL only after reviewing the legal pack, tenancy, BISF construction and specialist inspection. Do not rely on BRRR refinancing or a flip until lending, works and resale assumptions are verified.

Strategy Rating

HB Rating

★★★☆☆

Analysis Confidence

Confidence

Medium

There are useful same-road completed sales, current passing rent and an advertised rental benchmark, but no refurbishment budget, detailed condition report, tenancy terms, legal-pack disbursements or evidence that the non-standard construction is mortgageable.