Flat 2, 2 Cromwell Walk, Huntingdon, Cambridgeshire

Description

A first floor one bed maisonette located well for Huntingdon centre and the railway station. This one bedroom first floor maisonette offers a lounge, study/bedroom, kitchen, bedroom and a bathroom. The property was previously let for £695 pcm. Huntingdon offers a variety of amenities and a main line rail link into London Kings Cross.

Accommodation

Ground floor: Entrance hall. First Floor: Landing, lounge, study/bedroom, kitchen, bedroom and a bathroom.

Location

Located well for Huntingdon centre and the railway station. Huntingdon offers a variety of amenities and a main line rail link into London Kings Cross.

Tenure / Property Information

Investment Analysis

The supplied completed sales for the same address range from £78,000 in 2018 to £118,000 in 2017, with older sales at £90,000, £65,000 and £38,000. These are historic and inconsistent, so £90,000 is used as a cautious base GDV, with £78,000 and £118,000 as evidence-based low and high scenarios. The guide is £60,000, but the analysis excludes any unknown legal-pack disbursements and refurbishment costs.

Investment Snapshot

Strategy Recommendation

Investigate as a buy-to-let or cautious BRRR purchase only if the legal pack confirms acceptable lease terms and no material disbursements. The guide supports an attractive headline yield, but current achievable rent, condition and resale value require verification.

Works Required

No specific defects or required works are evidenced. Allow for inspection and any routine works identified after viewing, but no refurbishment budget can be supported from the supplied information.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £90,000 base GDV, 75% refinancing equates to £67,500. Against the guide plus the £2,400 buyer and administration charges, this indicates approximately £5,100 cash potentially released before finance, tax, legal costs, disbursements and any works. The result is highly dependent on the historic comparable evidence and lender valuation.

Buy-to-Let Analysis

At the £60,000 guide, the prior rent of £695 pcm implies 13.9% gross yield before fees and costs. Using the supplied £575 pcm advertised asking rent gives £6,900 annual rent and 11.5% on the guide, or 11.1% on the £62,400 purchase-plus-known-fees figure. The £695 rent is historical and the £575 figure is an asking rent, so achievable rent is uncertain.

Flip Analysis

A base GDV of £90,000 less the £62,400 guide-plus-known-fees cost indicates £27,600 before selling costs, finance, tax, disbursements and refurbishment. A reliable flip surplus cannot be established because no selling allowance, finance cost or refurbishment budget is supplied.

Investor Risks & Due Diligence

• Historic same-address sale prices are inconsistent and may not represent current market value.

• The £575 pcm figure is an advertised asking rent, while £695 pcm is a previous letting and neither confirms current achieved rent.

• No condition report or refurbishment cost evidence is supplied.

• Additional legal-pack disbursements may become payable and are not included in the calculations.

• The property is leasehold and the full legal-pack terms, including any relevant obligations or charges, have not been provided.

Recommendation

Investigate as a buy-to-let or cautious BRRR purchase only if the legal pack confirms acceptable lease terms and no material disbursements. The guide supports an attractive headline yield, but current achievable rent, condition and resale value require verification.

Strategy Rating

Analysis Confidence

The property description, tenure, guide, known charges, historic same-address sales and two rent indicators are supplied. However, the sales evidence is historic and inconsistent, the rental evidence is not achieved rent, and condition, legal-pack disbursements and refurbishment costs are unavailable.