40 Albert Street, Chilton, Ferryhill, County Down

Description

READY TO GO - TWO BEDROOM MID TERRACE IN CHILTON. This two bedroom terraced home in Chilton, County Durham is ready to go. Not to be overlooked is the potential this property has as a buy to let or starter home.

Accommodation

Ground floor: entrance hall, lounge, kitchen and bathroom/WC. First floor: landing and two bedrooms.

Location

Chilton has a small number of local amenities and school, with the larger towns of Ferryhill, Newton Aycliffe and Shildon a short drive away offering a larger array of shops, bars and restaurants.

Tenure / Property Information

Investment Analysis

The strongest broadly consistent completed sales are £33,500, £47,000 and £55,000 for similar freehold terraced houses on Albert Street. The £93,999 sale is a significant outlier and may reflect materially different circumstances. A cautious base GDV of £47,000 is used, with £33,500–£55,000 as the supported core range.

Investment Snapshot

Strategy Recommendation

Potentially suitable as a low-cost BTL if the £500 pcm asking rent is achievable and the legal pack and condition are satisfactory. Do not rely on a flip or BRRRR strategy without confirmed costs.

Works Required

No specific works are identified; the property is described as “ready to go”. A survey and legal-pack review are still required before confirming any works allowance.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £47,000 base GDV, 75% refinance is approximately £35,250. This does not establish the cash left in because refurbishment, finance, tax and other purchase costs are not fully supported. The refinance figure is below the guide purchase price plus the stated £3,600 buyer/admin charges.

Buy-to-Let Analysis

At the £35,000 guide, the advertised £500 pcm rent implies £6,000 annual rent and a 17.14% gross yield before fees and costs. Buyer premium is £1,800 at this guide because the minimum applies, plus the £1,800 admin charge. The rent is advertised asking rent, not achieved rent, and EPC, council tax and operating costs are unavailable.

Flip Analysis

A potential gross margin exists against the £47,000 base GDV, but refurbishment costs, selling costs and full project costs are unsupported. The £93,999 comparable is too inconsistent with the other evidence to use as the base exit value.

Investor Risks & Due Diligence

• The £93,999 comparable is materially inconsistent with the other Albert Street sales.

• The £500 pcm figure is an advertised asking rent, not a completed letting.

• Property condition and any refurbishment requirement are not evidenced.

• EPC, council tax, finance, tax, selling costs and legal-pack disbursements are unavailable.

• Buyer premium minimum of £1,800 and £1,800 admin charge apply at the guide price.

Recommendation

Potentially suitable as a low-cost BTL if the £500 pcm asking rent is achievable and the legal pack and condition are satisfactory. Do not rely on a flip or BRRRR strategy without confirmed costs.

Strategy Rating

Analysis Confidence

There are several nearby completed sales and one rental listing, but the comparable range is inconsistent, the £93,999 sale is anomalous, and condition, EPC, council tax, legal-pack costs and achieved rent are unavailable.