71 Sixth Street, Horden, Peterlee, County Durham, SR8 4JX

Description

The property provides well-proportioned accommodation arranged over two floors and offers an excellent opportunity for a purchaser looking to acquire a property with scope for refurbishment and modernisation. The property still requires some work alongside some cosmetic enhancement and will therefore appeal to a range of purchasers, including investors looking for a refurbishment opportunity, landlords seeking to add a property to their portfolio, or owner-occupiers looking to undertake improvement works and create a home to their own requirements.

Accommodation

Ground floor: front reception room with access through to the remainder of the accommodation, kitchen to the rear with access to the enclosed yard beyond. First floor: bedroom accommodation and bathroom.

Tenure / Property Information

Investment Analysis

HM Land Registry evidence ranges from £22,000 to £33,000 for nearby Sixth Street terraced properties. The subject property itself sold for £33,000 on 10 February 2026, providing the strongest market evidence. A cautious evidence-based value range is £22,000–£33,000, with £33,000 as the base GDV, subject to condition and legal-pack verification.

Investment Snapshot

Strategy Recommendation

Proceed only as a tightly controlled refurbishment purchase if the legal pack confirms acceptable tenure and fees, and if an inspection and priced works schedule support a purchase materially below the £33,000 base GDV. Do not rely on BRRR without confirmed costs and refinance terms.

Works Required

Complete the unspecified works and cosmetic modernisation referred to in the description. The exact scope, specification and cost cannot be established from the supplied evidence; the accommodation includes a kitchen, bathroom, reception room, bedrooms and enclosed yard.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At a base GDV of £33,000, 75% refinancing is approximately £24,750. The guide price plus the known £3,600 administration charge is already £30,600 before works and other possible charges, implying a minimum £5,850 funding gap before refurbishment. BRRR viability is therefore unproven and dependent on buying below guide and controlling the unknown works cost.

Buy-to-Let Analysis

The only rental evidence is an advertised asking rent of £495 pcm, equating to £5,940 annually. This represents approximately 22.0% gross yield against the £27,000 guide price before refurbishment, finance, voids, management and other costs. Yield on total project cost cannot be established because refurbishment costs and further fees are unknown. The rent is advertised, not achieved.

Flip Analysis

The subject property's own £33,000 completed sale is useful resale evidence. However, refurbishment costs, selling costs and possible legal or other auction charges are not supplied, so a reliable flip surplus or maximum bid cannot be calculated. The £22,000–£33,000 comparable range also indicates material valuation sensitivity.

Investor Risks & Due Diligence

• Refurbishment scope and cost are not quantified.

• Tenure is stated as subject to the legal pack and has not been confirmed.

• Additional Special Conditions fees, legal fees, transfer fees, search fees or seller-cost reimbursements may apply.

• The £495 pcm figure is an advertised asking rent rather than achieved rent.

• Comparable sales range from £22,000 to £33,000, creating valuation sensitivity.

• The known £3,600 administration charge is payable on exchange and further auction charges may apply.

Recommendation

Proceed only as a tightly controlled refurbishment purchase if the legal pack confirms acceptable tenure and fees, and if an inspection and priced works schedule support a purchase materially below the £33,000 base GDV. Do not rely on BRRR without confirmed costs and refinance terms.

Strategy Rating

Analysis Confidence

There is strong local completed-sale evidence, including a recent sale of the subject property, and one rental asking-price reference. However, condition, refurbishment costs, tenure, legal-pack liabilities, total fees and achieved rent are unconfirmed.