Bede House, Castle Green, Sunderland, Tyne and Wear, SR3 3HL

Description

A well-presented one bedroom first floor apartment situated within a quiet and well-maintained residential development, offering comfortable living space, attractive communal gardens and convenient access to local amenities and transport links. The listing also states: "Let and achieving £425pcm!"

Accommodation

The accommodation is accessed via a secure communal entrance and comprises an entrance hall, generously sized living room with space for lounge and dining furniture, separate fitted kitchen with wall and base units and space for appliances, double bedroom, and modern bathroom with a white suite including bath with shower over, wash basin and WC. The apartment is neutrally decorated and features wood-effect flooring, carpet, double-glazed windows and electric heating.

Location

Situated within a quiet and well-maintained residential development with attractive communal gardens and convenient access to local amenities and transport links.

Tenure / Property Information

Investment Analysis

The five supplied completed sales at Bede House range from £33,000 to £46,000, with a median of £35,000 and an average of £37,600. A base GDV of £35,000 is adopted, with low and high scenarios of £33,000 and £46,000 respectively. The exact comparable flat specifications are not provided, so this remains an indicative range rather than a formal valuation.

Investment Snapshot

Strategy Recommendation

Consider as a buy-to-let only if leasehold charges, legal/title matters and the existing tenancy are verified. The stated rent is attractive against the upper guide, but the limited information on recurring property costs prevents confirmation of net returns. A flip is not supported by the narrow base margin.

Works Required

No material refurbishment works are identified in the supplied description. The apartment is described as well presented with a modern bathroom, fitted kitchen, neutral decoration and wood-effect flooring. Allowance is therefore £0 for evidenced refurbishment, excluding any defects, maintenance or leasehold charges not disclosed.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At a £30,000 purchase price and the disclosed £3,600 administration charge, the assumed base cost is £33,600 because no material works are evidenced. A 75% refinance against the £35,000 base GDV would provide approximately £26,250, leaving indicative cash of £7,350 in before finance, tax and other undisclosed costs. The refinance outcome is sensitive to the achieved valuation and lender terms.

Buy-to-Let Analysis

Using the upper guide of £30,000 as the analysis purchase figure, the stated rent of £425 pcm produces £5,100 annual rent and a 17.00% gross yield before costs. Including the disclosed £3,600 buyer administration charge, the gross yield is approximately 15.18% before service charges, management, maintenance, insurance, voids, finance and tax. Service charge and council tax information is not supplied, so net profitability cannot be established.

Flip Analysis

Using the £35,000 base GDV against the £33,600 purchase-plus-known-cost basis indicates only £1,400 before selling costs, finance, tax and any undisclosed works or leasehold costs. A reliable flip surplus cannot be calculated because no supported selling allowance is provided.

Investor Risks & Due Diligence

• Leasehold service charges, ground rent and remaining lease term are not supplied.

• The existing tenancy terms, deposit, arrears position and rent review history are not supplied.

• Council tax information is missing.

• Additional auction costs may include searches, seller-cost reimbursement, legal fees, transfer fees and other disbursements.

• Electric heating may affect occupier costs, but no running-cost evidence is supplied.

• The rent is stated by the listing and no sufficiently specific external rental comparables or auctioneer estimate are provided.

• The comparable sales do not include detailed specifications, so the adopted GDV range may not precisely reflect this apartment.

Recommendation

Consider as a buy-to-let only if leasehold charges, legal/title matters and the existing tenancy are verified. The stated rent is attractive against the upper guide, but the limited information on recurring property costs prevents confirmation of net returns. A flip is not supported by the narrow base margin.

Strategy Rating

Analysis Confidence

There are five completed sales at the same development, a stated achieved rent and a disclosed buyer administration charge. Confidence is reduced because the exact comparable specifications, leasehold costs, tenancy terms, council tax and other auction disbursements are not supplied.