87 Larch Street, Nelson, Lancashire, BB9 9RJ

Description

A mid terrace house comprising lounge, dining kitchen, two bedrooms and bathroom. Small rear yard and on street parking.

Accommodation

Lounge - 4.24m x 4.19m; Kitchen - 3.05m x 4.16m; Bedroom 1 - 4.19m x 4.25m; Bedroom 2 - 2.03m x 3.97m; Bathroom - 2.07m x 2.21m

Location

Situated approximately five minutes’ walk from the centre of Nelson and close to shops, schools and amenities. Nelson Rail station is also close by providing easy access to Burnley, Nelson and Blackburn.

Tenure / Property Information

Investment Analysis

The available completed sales are dated: nearby Larch Street sales were £27,000 in 2016 and £30,000 in 2015, while this exact property sold for £60,000 in 2008. These transactions do not provide a reliable current GDV, particularly without condition evidence or recent comparables. The £45,000 guide is above the two latest nearby sales but may not be directly comparable due to time and condition differences.

Investment Snapshot

Strategy Recommendation

Consider only as a conditional BTL opportunity after viewing, rent validation and legal review. Do not rely on the historic sales or advertised rents to justify a resale or refinance strategy, and set a bid limit only after confirming condition and all special-condition charges.

Works Required

No specific defects or refurbishment requirements are evidenced. Arrange a viewing and survey before budgeting for works; the accommodation, EPC, heating and bathroom condition should be verified.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be reliably completed because current GDV, refurbishment cost and a refinance valuation are unsupported. The long lease is noted, but the leasehold ground rent and auction charges must be included in full due diligence.

Buy-to-Let Analysis

Advertised rents support a range of £565–£650 pcm, equivalent to gross yields of approximately 15.07%–17.33% against the £45,000 guide price before purchase costs, works, finance, voids and operating expenses. These are asking rents rather than achieved rents, and no passing rent is provided. The buyer premium is £1,500 and the administration charge at the guide is £3,600 due to the stated minimum, before any further charges.

Flip Analysis

A flip assessment cannot be reliably completed. The available sales evidence is historic and no supported current GDV, refurbishment budget or selling-cost allowance is available. The guide price is already above the two latest nearby completed sales supplied.

Investor Risks & Due Diligence

• Historic comparable sales may not reflect current market value.

• The £45,000 guide exceeds the two latest nearby supplied sales at £27,000 and £30,000, although those sales are from 2016 and 2015.

• Advertised rents of £565–£650 pcm are asking rents, not achieved or passing rents.

• Property condition and refurbishment requirements are not evidenced.

• Auction costs include a £1,500 buyer premium and a minimum £3,600 administration charge at the guide price, with possible additional special-condition charges.

• Leasehold ground rent is stated as £37.18s.6d.; the legal title and all lease obligations should be reviewed.

• On-street parking only is stated.

Recommendation

Consider only as a conditional BTL opportunity after viewing, rent validation and legal review. Do not rely on the historic sales or advertised rents to justify a resale or refinance strategy, and set a bid limit only after confirming condition and all special-condition charges.

Strategy Rating

Analysis Confidence

The property description, tenure, auction charges, historic sales and advertised rents are supplied, but there is no condition report, current comparable evidence, passing rent, heating detail or refurbishment estimate.