57 Tennyson Road, Cowes, Isle Of Wight

Description

This two-bedroom terraced house with bay and forecourt is situated close to the centre of Cowes, the Marina and the River Medina with mainland ferry connections a short distance away. The property is very well presented throughout and has been in use as an investment property for many years. It is considered ideal for addition to an income-producing portfolio.

Accommodation

Ground Floor: Living room, dining room, kitchen. First Floor: Landing, two bedrooms, bathroom with W.C. Lower Ground Floor: Utility room. Outside: Enclosed garden to rear.

Location

Situated close to the centre of Cowes, the Marina and the River Medina, with mainland ferry connections a short distance away.

Tenure / Property Information

Investment Analysis

Same-road freehold terraced sales range from £122,000 in August 2025 to £185,000 in March 2024, with older evidence up to £240,000. Given the wide spread and absence of detailed comparable specifications, an indicative base GDV of £153,500 is used, with £122,000 low and £185,000 high scenarios. This is an estimate, not a formal valuation.

Investment Snapshot

Strategy Recommendation

Potential income-hold purchase only if the passing rent, tenancy terms and total acquisition costs support the return. Do not rely on the advertised East Cowes rent without verification, and obtain a firm maximum bid after confirming all auction fees.

Works Required

No specific refurbishment works are evidenced; the property is described as very well presented. Confirm condition, tenancy obligations and whether any works are required before bidding. EPC rating E should be reviewed for potential improvement requirements.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the estimated £153,500 base GDV, a 75% refinance would be approximately £115,125. Refurbishment costs, buyer/admin charges, other fees and the actual purchase price are not established, so cash left in and equity cannot be reliably calculated. Existing letting may support income, subject to verification of the tenancy and rent.

Buy-to-Let Analysis

The only rental evidence is an advertised £503 pcm asking rent for a two-bedroom house in East Cowes, not achieved or passing rent for this property. At the £125,000 midpoint of the guide, this indicates approximately 4.83% gross yield before operating costs, finance, tax and purchase fees. The actual tenancy rent and tenancy terms should be verified.

Flip Analysis

The indicative base GDV is £153,500, but no refurbishment budget, buyer costs or selling allowance is evidenced. A reliable flip surplus and maximum bid therefore cannot be calculated. The wide comparable range also creates valuation uncertainty.

Investor Risks & Due Diligence

• The property is let under an Assured Periodic Tenancy, but passing rent, arrears, deposit and tenancy terms are not supplied.

• The £503 pcm rental evidence is an advertised asking rent in East Cowes, not achieved rent for this property.

• Same-road sold evidence ranges widely from £122,000 to £240,000, creating valuation uncertainty.

• Buyer premium, administration charges and other non-optional fees are unspecified.

• EPC rating E may require review for future compliance and improvement costs.

• Actual condition, services, heating and parking details are not supplied.

Recommendation

Potential income-hold purchase only if the passing rent, tenancy terms and total acquisition costs support the return. Do not rely on the advertised East Cowes rent without verification, and obtain a firm maximum bid after confirming all auction fees.

Strategy Rating

Analysis Confidence

There are several same-road completed sales and basic property details, but the comparables vary materially and there is no passing rent, refurbishment budget, fee schedule or detailed tenancy information.