No. 2 South View Easington Lane, Houghton le Spring, Tyne And Wear, DH5 0NS

Description

This extended two bedroom semi-detached house presents an great opportunity for buyers looking for a project. Requiring modernisation and renovation throughout, the property offers generous accommodation and excellent scope to add value. The ground floor features three reception rooms, together with a kitchen, separate utility room and a useful cloakroom/WC. To the first floor are two well sized double bedrooms and a part-completed bathroom. A fixed staircase leads to three attic rooms, providing further versatile space subject to any necessary consents. Outside, the property benefits from gardens to both the front and rear. Occupying a convenient position on the edge of a well-served residential area close to open countryside, the property enjoys easy access to a wide range of local amenities including shops, schools for all ages, healthcare facilities and leisure amenities. PLEASE NOTE: the property does not currently have a boiler installed. Tenure: Freehold EPC Rating: G

Accommodation

The supplied particulars indicate approximately 2 bedroom accommodation. Room layout, floor areas and dimensions should be confirmed from the auctioneer particulars, floor plan and inspection.

Location

Located in Houghton le Spring, Tyne And Wear. Investor due diligence should test local transport, employment, amenities and tenant demand at the exact micro-location. Cross-check the postcode and legal title before bidding.

Investment Analysis

The figures below separate auctioneer/source facts from HB indicative estimates. HB figures are screening assumptions only and are not a RICS valuation, contractor quotation or lending decision.

Investment Snapshot

Strategy Recommendation

The initial strategy should be tested against condition, legal structure, works, rental evidence and comparable values before setting a maximum bid. The screening case depends on achieving a sufficient margin or sustainable income after all acquisition and holding costs.

Works Required

• Kitchen and bathroom modernisation review

• Electrical/heating testing and upgrades

• Decoration and flooring

• Roof, damp and structural inspection

Rental & Market Context

HB screening rent is approximately £250–£350 pcm (£3,000–£4,200 pa). Replace this with current local letting evidence. No reliable current rent was extracted from the supplied source.

Sold within approximately 5 miles

Reliable sold-property comparables were not collected from the supplied scrape. Check recent Land Registry evidence and closely comparable sold listings within approximately five miles, prioritising the same property type, size, tenure and condition.

Potential BRRR Position

Illustrative 75% refinance on the HB indicative value range is about £37,500–£45,000 against purchase + works of approximately £54,000–£67,000. Actual refinance depends on valuation, works, finance costs, rental stress testing and lender criteria.

Flip Analysis

The initial gross value spread is approximately £-17,000–£6,000 before acquisition/disposal costs. This is not profit and excludes SDLT, auction/admin fees, legal costs, finance, holding costs, insurance, utilities, professional fees, selling fees, contingency and tax.

Investor Risks & Due Diligence

• Review legal pack, title and special conditions

• Confirm auction fees and completion period

• Obtain survey and works quotations

• Verify finance before bidding

• Check rental and sold comparable evidence

Recommendation

Initial recommendation: BRRR or Refurbishment & Resale. Proceed only if the legal pack, condition, costs and local evidence support the required margin/yield. Treat the guide as a starting point rather than a valuation and set a disciplined maximum bid after due diligence.

Strategy Rating

• BRRR: ★★★★☆

• Flip: ★★★★☆

• Buy-to-Let: ★★★☆☆