8 Harcourt Street, Raunds, Wellingborough, Northamptonshire, NN9 6LZ

Description

Situated within a popular residential area of Raunds, this well-presented two-bedroom mid-terraced property offers an opportunity for investors, first-time buyers and owner-occupiers. Offered vacant and chain-free, the property is presented in excellent condition and ready for immediate occupation or letting.

Accommodation

Living/dining area with bay window to front aspect, carpet flooring, single panelled radiator, dining area and under-stairs storage. Kitchen with base and wall level units, side-aspect windows, stainless steel sink, gas cooker, extractor, oven, side door to rear garden and access to rear bathroom/WC. Bathroom with side-aspect window, bathtub with shower and hand wash basin with storage underneath. Downstairs WC with side-aspect window and low-level WC. Bedroom one with two UPVC double-glazed windows to front aspect and carpet flooring. Bedroom two with UPVC double-glazed windows to rear aspect, carpet flooring, radiator and access to WC. Additional small WC with hand wash basin and boiler. Rear garden with paved patio, wooden fencing, trees at rear, washing line and small storage outbuilding.

Location

Situated within a popular residential area of Raunds, Wellingborough, Northamptonshire.

Tenure / Property Information

Investment Analysis

Indicative base GDV is £140,000, supported by same-street completed sales of £120,000 in 2016 and £144,000 in 2019, plus other Harcourt Street sales of £125,000–£130,000 in 2014–2015. The £125,000–£145,000 auction guide provides additional context but is not a valuation. A £130,000–£145,000 evidence-based range is used; all comparable evidence is historic and no current independent valuation is supplied.

Investment Snapshot

Strategy Recommendation

Consider only as a price-sensitive BTL purchase, preferably near the lower end of the guide and subject to confirming the £950 pcm rent, condition and legal-pack costs. Avoid relying on BRRR or flip assumptions.

Works Required

The property is described as well-presented, in excellent condition and ready for occupation or letting. No refurbishment works are specifically identified, so the analysis uses a zero identified works allowance. A viewing, inspection and legal-pack review remain necessary; unquantified minor maintenance is excluded.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £135,000 midpoint purchase figure and with no identified refurbishment allowance, base cost including stated buyer and admin charges is £138,540. A 75% refinance of the £140,000 base GDV would be £105,000, leaving approximately £33,540 still invested before finance, tax and any other costs. The relatively high cash left in makes the BRRR case weak unless the property is bought materially below the midpoint or the eventual valuation exceeds the supported range.

Buy-to-Let Analysis

Using the auctioneer's £950 pcm estimate, annual rent is £11,400. This produces an indicative 8.44% gross yield on the £135,000 midpoint purchase figure and 8.23% on the £138,540 base cost including the stated £2,400 buyer premium and £1,140 admin charge. Rental evidence is asking-rent evidence, with a lower £845 pcm two-bedroom NN9 listing, so achieved rent and operating costs are unconfirmed. The result is price-sensitive and excludes unknown legal, search, transfer and finance costs.

Flip Analysis

The base GDV is estimated at £140,000 against a £138,540 base acquisition cost including stated charges, leaving only £1,460 before selling costs, finance, tax and any unquantified costs. No supported selling-cost allowance or refurbishment requirement is provided, so a formal flip surplus cannot be calculated. The narrow apparent margin does not support a robust flip at the midpoint guide.

Investor Risks & Due Diligence

• Historic comparable sales may not reflect current market value.

• The £950 pcm figure is an advertised/auctioneer rent estimate rather than confirmed passing or achieved rent.

• Buyer, admin and other possible legal, search, seller-cost reimbursement and transfer charges may increase total cost.

• No condition survey or legal-pack review is supplied, so unquantified maintenance or legal issues cannot be excluded.

• No parking, council tax or complete property-cost information is supplied.

• The base case leaves limited apparent equity and a substantial amount of cash left in after a 75% GDV refinance.

Recommendation

Consider only as a price-sensitive BTL purchase, preferably near the lower end of the guide and subject to confirming the £950 pcm rent, condition and legal-pack costs. Avoid relying on BRRR or flip assumptions.

Strategy Rating

Analysis Confidence

The property description, tenure, vacancy, auction charges, historic same-street sales and rental asking evidence are supplied. However, sales evidence is dated, rent is not achieved rent, no current valuation or full project costs are provided, and other auction/legal charges remain unknown.