7 Duerden Street, Nelson, Lancashire BB9 9BJ

Description

Tenanted two bed terraced house. Not yet inspected by Auction House, however understood to be a tenanted two bed mid terrace house. Property is 62m² as taken from EPC.

Accommodation

Living room, kitchen, two bedrooms and a bathroom, as understood. Externally, there is a yard to the front and rear of the property.

Location

Nelson, Lancashire

Tenure / Property Information

Investment Analysis

Evidence supports a broad indicative value range of £54,000–£69,000. The £54,000 sale at 11 Duerden Street completed in 2021 is the most relevant comparable. The £60,000 guide is broadly consistent with the available evidence, while the £69,000 comparable is from 2007 and is less reliable. The guide is not a formal valuation and additional auction costs may apply.

Investment Snapshot

Strategy Recommendation

Potential income-led BTL at the guide, subject to tenancy verification, inspection and legal-pack review. Avoid committing to a refurbishment or flip strategy until condition and all auction charges are confirmed.

Works Required

No specific refurbishment works are evidenced. The property has not been inspected by the auctioneer, so inspection and review of the legal pack, tenancy and EPC are required before budgeting works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the indicative £60,000 GDV, a 75% refinance would be approximately £45,000. Total acquisition cost cannot be calculated reliably because refurbishment costs, disbursements and other auction charges are not supplied. The refinance therefore would not recover the guide price alone, before works and transaction costs.

Buy-to-Let Analysis

At the current passing rent of £433 pcm, annual rent is £5,196 and the gross yield on the £60,000 guide is approximately 8.66%, before finance, maintenance, management, voids, insurance and auction costs. The supplied rental adverts range from £400 to £795 pcm, but they are asking rents and comparability is not established. Existing tenancy terms and rent sustainability require verification.

Flip Analysis

A £60,000 base GDV is supported by the guide and available local evidence, but no inspection-based works budget, selling costs or complete acquisition-cost schedule is available. A reliable flip surplus and maximum bid cannot therefore be established. The property is tenanted, which may also affect timing and resale strategy.

Investor Risks & Due Diligence

• Property has not been inspected by the auctioneer, so condition and required works are unknown.

• Current tenancy terms beyond the stated £433 pcm rent are not supplied.

• Additional disbursements, seller costs, legal fees, search fees or transfer fees may apply under the special conditions.

• Rental listings are advertised asking rents rather than achieved rents and may not be directly comparable.

• The £69,000 comparable is from 2007 and may not reflect current market value.

• Leasehold ownership requires review of the legal title and any lease-related obligations, although the stated lease term is very long.

Recommendation

Potential income-led BTL at the guide, subject to tenancy verification, inspection and legal-pack review. Avoid committing to a refurbishment or flip strategy until condition and all auction charges are confirmed.

Strategy Rating

Analysis Confidence

There is useful local sold-price evidence, a stated passing rent and a long lease, but the property has not been inspected and refurbishment costs, tenancy details, disbursements, selling costs and full legal-pack liabilities are unavailable.