9 Tantabank, Dalton-In-Furness, Cumbria

Description

An opportunity to purchase a bungalow in the sought after area of Dalton in Furness. The property benefits from ample outdoor space and has a detached garage and has great access to transport links with being close to the train station. This property is requiring modernisation which would suit a developer or investor.

Accommodation

Entrance Hall - 7'3 x 3'1; Living Area - 16'0 x 12'0; Dining Area - 13'7 x 8'11; Kitchen - 14'3 x 5'10; Conservatory - 10'1 x 6'11; Bedroom - 19'4 x 9'1; Shower Room - 6'1 x 5'7; Attic - 13'0 x 11'0

Location

Sought after area of Dalton in Furness, with great access to transport links and close to the train station.

Tenure / Property Information

Investment Analysis

The available sold evidence is for semi-detached properties at Tantabank, not a directly comparable one-bedroom bungalow. Prices range from £155,000 to £225,000, with the latest sale at £225,000 in August 2024, but differences in property type, size, condition and specification prevent a reliable GDV estimate. Base, low and high GDV are therefore unsupported.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the legal pack, confirming tenure and inspecting the bungalow to price the modernisation. Obtain local Dalton-in-Furness rental and bungalow comparables before considering a bid; do not rely on the supplied rent estimate.

Works Required

Modernisation is stated to be required, but no detailed schedule or condition report is supplied. Scope and cost should be established through inspection and the legal pack before bidding; no specific defects or works are assumed.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed because the bungalow's modernisation cost, reliable GDV, tenure, buyer premium and other completion costs are unavailable. The known admin charge would be £1,500 at the £125,000 guide, before any buyer premium or disbursements. Refinance capacity is unsupported.

Buy-to-Let Analysis

The only rental evidence is an £80 pcm advertised asking rent for a one-bedroom property in Great Urswick, not Dalton-in-Furness, and it is not an achieved rent. Using it produces £960 annual rent and a 0.77% gross yield against the £125,000 guide, but this is not a reliable property-specific rental assessment. BTL viability cannot be established without local Dalton rent evidence and full costs.

Flip Analysis

The sold comparables indicate values on the same development, but they are semi-detached properties and are not sufficient to establish this bungalow's resale value. Without a supported GDV, refurbishment budget and selling-cost allowance, flip surplus and maximum bid cannot be calculated.

Investor Risks & Due Diligence

• Tenure is not confirmed and must be checked in the legal pack.

• The property is described as requiring modernisation, but the scope and cost are unknown.

• Buyer premium amount is unspecified.

• Disbursements and other possible legal, search, seller-cost and transfer charges are unspecified.

• The only rent evidence is an £80 pcm asking rent from Great Urswick rather than Dalton-in-Furness and is not an achieved rent.

• The comparable sales are semi-detached properties rather than this one-bedroom bungalow.

• The detached garage and other property details should be verified through inspection and the legal pack.

Recommendation

Proceed only after reviewing the legal pack, confirming tenure and inspecting the bungalow to price the modernisation. Obtain local Dalton-in-Furness rental and bungalow comparables before considering a bid; do not rely on the supplied rent estimate.

Strategy Rating

Analysis Confidence

There is useful same-street sold evidence and a guide price, but no directly comparable bungalow sale, no refurbishment budget, no confirmed tenure, no reliable local rent, and several auction costs are unspecified.