Flat 10, Rose Court, 1 Ware Street, Stockton-On-Tees, County Durham

Description

A modern top floor one-bedroom apartment located in Norton, close to the town centre of Stockton, offering local amenities with easy access to the A66 and A19. The accommodation comprises a communal entrance, private apartment entrance, hallway/reception, spacious living room, kitchen, bathroom/WC and a double bedroom. The apartment benefits from electric heating and uPVC windows.

Accommodation

Communal Entrance; Entrance Hallway; Living Room; Kitchen; Bedroom; Bathroom

Location

Located in Norton, close to the town centre of Stockton, with local amenities and easy access to the A66 and A19.

Tenure / Property Information

Investment Analysis

Five supplied sales at Rose Court range from £35,000 to £49,000, with an arithmetic mean of £43,920. A rounded base GDV of £44,000 is used; £35,000 and £49,000 represent evidence-based low and high scenarios. Condition appears modern with EPC B, but no detailed inspection evidence is supplied.

Investment Snapshot

Strategy Recommendation

Investigate as a potential low-cost resale or hold, but only after reviewing the legal pack, leasehold costs, condition and total acquisition costs.

Works Required

No specific refurbishment works are evidenced. Confirm condition, lease, service charge, insurance, planned major works and any legal-pack requirements before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

The guide is substantially below the supplied same-building sales, but refurbishment costs, rent, finance costs, service charges and disbursements are unconfirmed. A 75% refinance of the base GDV would be approximately £33,000, subject to valuation and lending criteria.

Buy-to-Let Analysis

No sufficiently specific rental evidence or auctioneer rent estimate is supplied, so rent and yield cannot be established. The flat is vacant and leasehold; service charges and other ownership costs are unknown.

Flip Analysis

The evidence supports a potential resale value around £44,000, with observed sales between £35,000 and £49,000. A reliable flip surplus cannot be calculated because works, selling costs, disbursements and the final purchase price are unknown.

Investor Risks & Due Diligence

• Leasehold service charges, ground rent and major works liabilities are not supplied.

• Legal-pack disbursements and possible seller or transfer costs are unknown.

• No reliable rental evidence is available.

• Final value may vary materially within the £35,000 to £49,000 comparable range.

• Vacant possession and condition should be verified before exchange.

Recommendation

Investigate as a potential low-cost resale or hold, but only after reviewing the legal pack, leasehold costs, condition and total acquisition costs.

Strategy Rating

Analysis Confidence

Same-building completed sales provide useful GDV evidence, but rent, condition, leasehold costs, disbursements and works costs are unavailable.