64 Sixth Street, Horden, Peterlee, County Durham

Description

Auction House North West have not inspected but believe this to be a mid-terraced property with two bedrooms. The property is sold without possession and without access. All services/appliances have not and will not be tested.

Accommodation

Living room, dining kitchen, two bedrooms and a bathroom. There is a yard to the rear.

Tenure / Property Information

Investment Analysis

Five same-street completed sales range from £22,000 to £33,000, averaging £26,300. The base GDV uses this average; the range reflects the lowest and highest supplied comparables. The property has not been inspected and is sold without possession or access, so condition and true value remain uncertain.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the legal pack and establishing access, possession, condition and all additional charges. Do not rely on the apparent margin without a works and possession assessment.

Works Required

Obtain possession and access, inspect the property, test services and appliances, and identify any required remedial, safety or presentation works. No specific defects or works cost can be supported from the evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the guide plus the known £1,250 buyer premium, the known acquisition cost is £15,250. A 75% refinance of the £26,300 base GDV is £19,725, implying £4,475 potentially released before finance costs, works and unknown legal/disbursement costs. The lack of access and condition evidence makes the outcome highly uncertain.

Buy-to-Let Analysis

Advertised asking rents are £600–£695 pcm; using £650 pcm gives £7,800 annual rent. This equates to 55.71% gross yield on the £14,000 guide and 51.15% on the known £15,250 purchase-plus-buyer-premium figure. These figures exclude unknown works, disbursements and other costs, and achieved rent is unconfirmed.

Flip Analysis

Supplied completed sales support a £22,000–£33,000 value range and £26,300 base GDV. A reliable flip surplus cannot be calculated because refurbishment costs, selling costs and additional auction disbursements are unsupported.

Investor Risks & Due Diligence

• Property is sold without possession and without access.

• Condition and required works are unknown because the auctioneer has not inspected it.

• Services and appliances will not be tested.

• Special conditions may impose additional legal, search, seller-cost or transfer charges.

• Rental figures are advertised asking rents rather than achieved rents.

• No formal refurbishment or selling-cost allowance is supported.

Recommendation

Proceed only after reviewing the legal pack and establishing access, possession, condition and all additional charges. Do not rely on the apparent margin without a works and possession assessment.

Strategy Rating

Analysis Confidence

Good same-street sold-price and asking-rent evidence is available, but there is no inspection, access, possession, EPC, condition, refurbishment budget or complete fee schedule.