49 Eighteenth Avenue, Hull, East Yorkshire

Description

A three bedroom semi-detached terrace house. Externally the property benefits from off road parking, a front yard and rear garden. In need of modernisation. Extension potential subject to requisite consents. Vacant.

Accommodation

Ground Floor - Entrance Hallway, Reception Room, Kitchen, Shower Room/WC. First Floor - Three Bedrooms.

Location

Hull is a city in the county of East Yorkshire. Located on the south side of 16th Avenue. A range of local amenities are available locally on Ellerburn Avenue, Greenwood Avenue and Hall Road, with Hull city centre amenities approximately 3.7 miles. Recreational amenities are conveniently close by at Princess Elizabeth Playing Fields and Middledyke Conservation Area. Transport Cottingham - Hull Trains / northern.

Tenure / Property Information

Investment Analysis

The only supplied completed sale is 48 Eighteenth Avenue, a freehold semi-detached property, sold for £110,000 in December 2023. This is a close-location and broadly comparable evidence point, although no details are supplied regarding its condition, accommodation specification or improvements. A base GDV of £110,000 is therefore used cautiously. No supported low/high GDV range can be established from the evidence provided.

Investment Snapshot

Strategy Recommendation

Proceed only subject to inspection, a detailed refurbishment quotation, confirmation of all auction and seller charges, and local rental evidence. The property appears potentially suitable for a refurbishment-led BTL or BRRR strategy, but the unknown works and transaction costs prevent a reliable bid calculation.

Works Required

Modernisation is required, but the evidence does not specify the extent of works. Any refurbishment allowance should therefore be confirmed by inspection and contractor quotations. Extension potential is mentioned but remains subject to the requisite consents and is excluded from this analysis.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the supplied comparable, 75% of the £110,000 base GDV is £82,500. However, refurbishment costs, buyer premium, VAT treatment and other purchase costs are unknown, so total project cost and cash left in cannot be calculated. BRRR may be viable, but only after confirming the property's condition, works budget, achievable rent and lender valuation.

Buy-to-Let Analysis

The supplied £825 pcm figure is an advertised asking rent rather than an achieved rent, and its geographic comparability to this Hull property is not established. At the £45,000 guide, this indicates a gross yield of approximately 22%, before refurbishment, acquisition, finance, maintenance, voids and management costs. The headline yield is attractive but cannot be relied upon without local rental verification and a full cost assessment.

Flip Analysis

The supplied completed comparable supports a cautious £110,000 base GDV. A flip surplus cannot be calculated because the refurbishment budget, buyer premium, VAT treatment, seller charges, finance costs and resale costs are not supplied. Modernisation requirements also create execution and valuation risk.

Investor Risks & Due Diligence

• The property is described as in need of modernisation, but the extent and cost of works are unknown.

• The rent evidence is an advertised asking rent, not an achieved rent, and its comparability to Hull is not established.

• The buyer fee is unspecified and VAT may apply; seller's special conditions may contain additional charges.

• The base GDV relies on a single completed comparable with no supplied condition or specification details.

• Extension potential is subject to the requisite consents and is excluded from the valuation analysis.

• Finance, resale, maintenance, void and management costs are not supplied.

Recommendation

Proceed only subject to inspection, a detailed refurbishment quotation, confirmation of all auction and seller charges, and local rental evidence. The property appears potentially suitable for a refurbishment-led BTL or BRRR strategy, but the unknown works and transaction costs prevent a reliable bid calculation.

Strategy Rating

Analysis Confidence

There is one nearby completed sale and one potentially indicative advertised rent, but no condition-adjusted comparables, detailed works scope, refurbishment costs, buyer fee, seller charges, VAT treatment or verified local achieved rent.