4 Derwent Street, Hartlepool, Cleveland, TS26 8BE

Description

An excellent opportunity to acquire this spacious and well-presented Victorian mid-terrace property, conveniently positioned just a short walk from Hartlepool town centre and less than a mile from the harbour. The property has been sympathetically improved over recent years whilst retaining a number of attractive period features and offers surprisingly generous accommodation arranged over three floors, extending to approximately 82–83 sq m. Internally, the accommodation comprises an entrance hallway, spacious living room with feature marble fireplace, fitted kitchen with dining space and a modern bathroom. To the first floor are two bedrooms, including a particularly generous main bedroom, whilst the converted attic level provides a further attic bedroom together with useful additional storage space. The property benefits from gas central heating via a modern boiler, double glazing, recently laid carpets and flooring, and is offered with white goods, Smart TV and the majority of furniture included, making this an appealing turn-key opportunity for either an owner occupier or buy-to-let investor. Externally there is an enclosed courtyard to the rear. The property has an EPC rating of D, with a current score of 60 and potential to improve to C. The electrical installation was assessed as satisfactory, with the report noting a recent consumer unit upgrade. With an estimated rental potential of approximately £600 per calendar month (£7,200 per annum), this represents an attractive opportunity for investors seeking an immediately usable property in a convenient central Hartlepool location. Early viewing is highly recommended. Tenure: Freehold EPC Rating: D

Accommodation

The supplied particulars indicate approximately 3 bedroom accommodation. Room layout, floor areas and dimensions should be confirmed from the auctioneer particulars, floor plan and inspection.

Location

Located in Hartlepool, Cleveland. 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

• Review complete building/property condition

• Electrical and heating inspection

• Allow for decoration and repairs where required

Rental & Market Context

HB screening rent is approximately £250–£300 pcm (£3,000–£3,600 pa). Replace this with current local letting evidence. The source also indicates published income of about £7,200 pa, which should be verified against tenancy documents.

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 £32,250–£37,500 against purchase + works of approximately £45,000–£52,000. Actual refinance depends on valuation, works, finance costs, rental stress testing and lender criteria.

Flip Analysis

The initial gross value spread is approximately £-9,000–£5,000 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: Buy-to-Let. 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

• Buy-to-Let: ★★★★☆

• BRRR: ★★★☆☆

• Flip: ★★★☆☆