54 Rokeby Street, Newcastle upon Tyne, Tyne and Wear, NE15 8RP

Description

Offered for sale by auction is this vacant two-bedroom terraced home, located in Lemington. The property comprises an Entrance Hall, a Living Room, a Dining Room and a Kitchen to the ground floor. On the first floor are two double bedrooms, and a Bathroom. Externally there is a small front yard, and an enclosed rear garden. On-street parking is available to the front of the property.

Accommodation

Approx. 82 sq. meters of accommodation. Ground floor: Entrance Hall, Living Room, Dining Room and Kitchen. First floor: two double bedrooms and Bathroom.

Location

Situated in a well-established residential area in Lemington, conveniently placed for local amenities, transport links, hospitals and universities.

Tenure / Property Information

Investment Analysis

The strongest evidence is the same property's completed sale at £60,250 on 29 July 2026. Nearby same-street terraced sales range from £99,950 to £113,000, while another nearby sale was £52,000. Given the substantial variation and no detailed condition evidence, a cautious estimated GDV range is £60,250–£108,750, with a midpoint scenario of £90,000. This is an estimate, not a formal valuation.

Investment Snapshot

Strategy Recommendation

Treat as a potentially attractive BTL or BRRR purchase only after confirming condition, renovation costs, legal charges and the reason for the wide comparable-value variance. Do not rely on the £600 pcm estimate or higher GDV scenario without further evidence.

Works Required

The auctioneer indicates the property would rent for approximately £600 pcm once renovated, and the EPC is F. Renovation is therefore likely to be required, but the evidence does not provide a works schedule, condition survey or cost allowance. Scope and costs must be established before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £90,000 base GDV, a 75% refinance would be approximately £67,500. However, total project cost and cash left in cannot be calculated because refurbishment costs and additional auction charges are unsupported. BRRR viability is therefore highly dependent on the unknown renovation budget and the achievable post-works value.

Buy-to-Let Analysis

At the £20,000 guide, the auctioneer's estimated £600 pcm rent equates to £7,200 annually and a 36.0% gross yield before works, finance, management, maintenance, insurance, voids and tax. The broader rental evidence of £495–£750 pcm is advertised asking rent, not achieved rent. BTL appeal is potentially strong at the guide, but total-cost yield cannot be established without refurbishment and other purchase costs.

Flip Analysis

The estimated GDV range is £60,250–£108,750, but no refurbishment cost, selling allowance or complete acquisition-cost figure is supplied. A reliable flip surplus and maximum bid cannot therefore be calculated. The same-property sale at £60,250 also creates material downside risk relative to the higher nearby sales.

Investor Risks & Due Diligence

• EPC rating F and unspecified renovation requirements may result in material, currently unquantified works.

• The exact property sold for £60,250, materially below several nearby same-street sales between £99,950 and £113,000.

• The £495–£750 pcm rental figures are advertised asking rents, while £600 pcm is an auctioneer estimate rather than passing or achieved rent.

• Additional search, seller, legal, transfer and potentially buyer-premium charges are not quantified.

• The property is vacant, so there is no existing rental income or evidence of tenant demand at the estimated rent.

Recommendation

Treat as a potentially attractive BTL or BRRR purchase only after confirming condition, renovation costs, legal charges and the reason for the wide comparable-value variance. Do not rely on the £600 pcm estimate or higher GDV scenario without further evidence.

Strategy Rating

Analysis Confidence

There is useful same-street sales evidence, rental evidence and a known auction admin charge, but refurbishment scope, condition details, full fees, achieved rent and a reliable post-works valuation are unavailable.