4, East Street, HARWICH, Essex, CO12 3AS

Description

Freehold mid terrace house. By Order of the Mortgagees (Not in Possession).

Accommodation

The auctioneers were unable to inspect the property at the time of print. It is understood that the property comprises 2 bedroom accommodation. Purchasers are deemed to have relied upon their own enquiries as to the internal layout of the property.

Location

The property is located on East Street. Shopping amenities are available within Harwich Town Centre lying to the west. Public transport links can be found at Dovercourt Train Station located to the west and at Harwich Town Train Station lying to the north east, along with a network of local bus services serving the surrounding areas. The property is served by road links including the A120 lying to the north. Recreational pursuits can be found at Dovercourt Beach located to the south.

Tenure / Property Information

Investment Analysis

The strongest evidence is the same-street completed sale of 8 East Street at £115,000 in March 2025. Older same-street sales range from £95,000 to £107,500, but the property’s condition, internal layout, occupancy and improvements are unknown because it was not inspected. A cautious evidence-supported GDV range is £95,000–£115,000, with £115,000 as the base scenario rather than a formal valuation.

Investment Snapshot

Strategy Recommendation

Do not bid solely on the guide or headline yield. Proceed only after full legal review, inspection where possible, confirmation of occupancy and special-condition charges, and a conservative works allowance. If those checks are satisfactory, a value-led BTL or refurbishment-led resale may be considered; otherwise avoid.

Works Required

No works can be reliably specified because the auctioneer could not inspect the property. Internal inspection, confirmation of layout, condition, services, heating, EPC and any required repairs are essential before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At a £115,000 base GDV, 75% refinance is estimated at £86,250. However, refurbishment costs, total acquisition cost, occupancy status and lender acceptability are unknown. Cash left in and equity cannot be calculated reliably until the property is inspected and all buyer and seller charges are reviewed.

Buy-to-Let Analysis

The supplied asking-rent evidence indicates £850–£1,100 pcm, equivalent to £10,200–£13,200 annually. Against the £50,000 guide, this implies a theoretical gross yield of 20.4%–26.4%, before works, finance, voids, management, maintenance and purchase costs. These are asking rents from different locations and are not achieved rents. Occupancy and condition are unconfirmed, so the sustainable BTL yield cannot be established.

Flip Analysis

Using the £50,000 guide and the known £1,800 contract documentation fee, the indicative pre-works, pre-selling-cost spread to the £115,000 base GDV is £63,200. This is not a profit estimate because refurbishment, finance, legal, selling and any special-condition costs are unknown. The property was not inspected, making resale risk significant.

Investor Risks & Due Diligence

• Property was not inspected by the auctioneer and no keys will be provided on sale.

• Occupancy is unconfirmed and the sale is by mortgagees not in possession.

• Internal layout, condition, services, heating and EPC are unconfirmed.

• Refurbishment costs cannot be estimated from the supplied evidence.

• Rental figures are advertised asking rents rather than achieved or passing rents and relate to different locations.

• Seller fees may be payable under the Special Conditions of Sale but are not supplied.

• Parking arrangements are unconfirmed.

• The £115,000 comparable is a different property and does not establish this property’s value or condition.

Recommendation

Do not bid solely on the guide or headline yield. Proceed only after full legal review, inspection where possible, confirmation of occupancy and special-condition charges, and a conservative works allowance. If those checks are satisfactory, a value-led BTL or refurbishment-led resale may be considered; otherwise avoid.

Strategy Rating

Analysis Confidence

There is useful same-street sold-price evidence and indicative rental evidence, but no inspection, EPC, confirmed layout, condition, occupancy, heating details, works estimate, passing rent or complete fee schedule.