5, Station Lane, HARWICH, Essex, CO12 3QL

Description

Freehold mid terrace house

Accommodation

First floor: Principal bedroom with en-suite, two further bedrooms. Ground floor: Reception room, kitchen, bathroom/wc. Outside: Garden

Location

The property is located on Station Lane. 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 east 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 same property sold for £160,000 in March 2017, while 3 Station Lane sold for £155,000 in July 2016. These are relevant but dated completed-sale comparables, so they support an indicative GDV around £160,000 rather than a current formal valuation. The £800 pcm rent is an advertised asking rent for a three-bedroom Harwich property, not an achieved rent or property-specific letting appraisal.

Investment Snapshot

Strategy Recommendation

Conditional BTL at or near the guide, subject to confirming the £800 pcm rent, property condition, heating, parking and all auction fees. Do not rely on a flip or BRRR exit without updated valuation and refurbishment pricing.

Works Required

No condition or defects are supplied, so no refurbishment scope or cost can be supported. Obtain a survey and verify the kitchen, bathroom, heating, roof, windows, services, garden and EPC implications before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A 75% refinance against the indicative £160,000 base GDV would be £120,000. However, refurbishment costs, total acquisition cost, finance costs and lender valuation are unavailable, so cash left in and equity cannot be reliably calculated. EPC E and unknown heating/condition require attention during due diligence.

Buy-to-Let Analysis

At the £91,000 guide, the £800 pcm advertised asking rent implies annual rent of £9,600 and a gross yield of approximately 10.55% before the £1,800 admin charge, any seller fees, operating costs, finance, voids and tax. The rent is not property-specific and is not an achieved rent, so the BTL case requires local letting-agent confirmation and inspection.

Flip Analysis

The dated completed sales support an indicative resale range of £155,000–£160,000, including the subject's 2017 sale at £160,000. A flip surplus cannot be established because works, selling costs, finance costs and any seller completion fees are not supplied, and the comparables are several years old.

Investor Risks & Due Diligence

• Comparable sales are dated, with the most recent supplied sale from March 2017.

• The £800 pcm figure is an advertised asking rent and is not property-specific or an achieved rent.

• No condition, survey, heating or parking information is supplied.

• EPC rating is E, with no improvement cost or compliance assessment supplied.

• The seller may charge additional completion fees under the special conditions.

• No refurbishment, finance, selling-cost or tax allowances are available for project-return calculations.

Recommendation

Conditional BTL at or near the guide, subject to confirming the £800 pcm rent, property condition, heating, parking and all auction fees. Do not rely on a flip or BRRR exit without updated valuation and refurbishment pricing.

Strategy Rating

Analysis Confidence

The evidence includes a highly relevant but dated sale of the subject, one advertised rental benchmark, the guide and known admin charge. Current valuation, condition, refurbishment costs, financing, selling costs and full auction fees are incomplete.