49 Queen Street, Grange Villa, Chester Le Street, Durham, DH2 3LU

Description

A Vacant Two Bedroom Mid Terrace House in Need of Refurbishment. The property comprises a two bedroom mid terrace house arranged over ground and first floors.

Accommodation

Ground Floor: Reception Room, Kitchen. First Floor: Two Bedrooms, Bathroom.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Riverside Park are within easy reach. Transport links are provided by Chester-le-Street rail station.

Tenure / Property Information

Investment Analysis

Same-street completed sales range from £26,000 to £50,000. The evidence average is approximately £39,800, supporting a base GDV of £40,000, with a low scenario of £36,000 and high scenario of £50,000. Condition differences and the subject’s required refurbishment mean these scenarios are indicative only.

Investment Snapshot

Strategy Recommendation

Potentially attractive for a refurbishment-led BTL or BRRR purchase at a low price, but do not commit without a survey, legal-pack review and firm refurbishment quotation. The unknown works cost prevents a reliable maximum bid or project return calculation.

Works Required

Refurbishment is required to the two-bedroom mid-terrace house, including review and renewal of finishes, kitchen, bathroom and any affected services as identified by inspection. The evidence does not provide enough detail to quantify the works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the guide price, 75% of the £40,000 base GDV is £30,000. However, refurbishment costs and total acquisition costs are not fully quantified, so cash required and cash left after refinancing cannot be reliably calculated. BRRR viability depends heavily on the eventual purchase price and works scope.

Buy-to-Let Analysis

Advertised asking rents are £440–£450 pcm, equivalent to £5,280–£5,400 annually. At the £20,000 guide, the gross yield is approximately 26.4%–27.0%, before refurbishment, finance, voids, management and other costs. A true total-cost yield cannot be established because refurbishment costs are unknown. Asking rents are not achieved rents.

Flip Analysis

The £40,000 base GDV is supported by same-street completed sales, with a £36,000–£50,000 evidence range. A flip surplus cannot be calculated because refurbishment costs and selling costs are not supplied. The £1,800 administration charge is known, but other potential legal, search, transfer and disbursement costs remain unspecified.

Investor Risks & Due Diligence

• Refurbishment is required but its scope and cost are not evidenced.

• The guide price is not the final purchase price and may be exceeded at auction.

• The £1,800 administration charge is known, but legal, search, transfer, seller-cost reimbursement and other disbursements may also apply.

• Rental evidence comprises advertised asking rents rather than achieved passing rents.

• Comparable completed prices range materially from £26,000 to £50,000, creating valuation uncertainty.

Recommendation

Potentially attractive for a refurbishment-led BTL or BRRR purchase at a low price, but do not commit without a survey, legal-pack review and firm refurbishment quotation. The unknown works cost prevents a reliable maximum bid or project return calculation.

Strategy Rating

Analysis Confidence

There are five same-street completed sales, two advertised rents and a stated administration charge, but refurbishment scope, costs, other purchase charges and achieved rent are unavailable.