44 King Street, Workington, Cumbria CA14 4DH

Description

A residential investment property conveniently situated near the town centre. It is in basic order but offers good potential with two reception rooms and two bedrooms.

Accommodation

Ground Floor: Sitting Room 10'9 x 9'3; Living room 10'9 x 9'9; Kitchen 11' x 4'9; Shower Room and WC. First Floor: Front Bedroom 10'9 x 9'3; Rear Bedroom 10'9 x 9'9.

Location

Conveniently situated near the town centre. What3words location ///corals.enrolling.drilled

Tenure / Property Information

Investment Analysis

Same-street completed sales range from £35,000 to £125,000, with £52,000 recorded in 2020 and £125,000 in 2022. Given the wide range, different dates and unknown condition/tenure, an indicative base GDV of £75,000 is used, with £52,000 low and £125,000 high scenarios. This is not a formal valuation.

Investment Snapshot

Strategy Recommendation

Potentially suitable for further BTL investigation at or near guide, subject to legal-pack, condition, tenure, rent and total-cost verification. Do not bid without a defined works budget and fee allowance.

Works Required

The property is described as being in basic order. Inspect and complete only the works required to achieve lettable or resale condition; no detailed defect or cost evidence is supplied.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A 75% refinance against the indicative £75,000 base GDV would be £56,250. BRRR viability cannot be confirmed because refurbishment costs, total acquisition costs, tenure and legal disbursements are unknown.

Buy-to-Let Analysis

Advertised two-bedroom rents support £750–£825 pcm, equivalent to £9,000–£9,900 annually. At the £30,000 guide, gross yield is approximately 30%–33% before the £1,500 minimum administration charge, works, finance, voids and operating costs. Asking rents are not achieved rents.

Flip Analysis

The same-street sales provide a broad £52,000–£125,000 evidence range, but no supported refurbishment budget, selling costs or confirmed post-works condition is available. Flip surplus therefore cannot be calculated reliably.

Investor Risks & Due Diligence

• Tenure is stated only as subject to the legal pack.

• Special-condition fees, seller costs, legal fees, transfer fees and disbursements are unknown.

• The property is described only as being in basic order, with no detailed condition report or works budget.

• Rental evidence consists of advertised asking rents rather than achieved rents.

• Comparable sale prices vary substantially and differ in date and stated tenure.

Recommendation

Potentially suitable for further BTL investigation at or near guide, subject to legal-pack, condition, tenure, rent and total-cost verification. Do not bid without a defined works budget and fee allowance.

Strategy Rating

Analysis Confidence

There is useful same-street sales and rental evidence, but tenure, condition detail, EPC, refurbishment costs, legal disbursements and achieved rent are unavailable.