No. 28 Harrogate Terrace Murton, Seaham, County Durham, SR7 9PQ

Description

Auction House North East are delighted to offer for sale by auction this two bedroom mid terraced property, situated within an established residential area of Murton, Seaham. The property presents an excellent opportunity for investors, landlords or owner occupiers, with scope for modernisation and improvement. The well proportioned accommodation offers potential to create a comfortable home or investment property following any works required.

Accommodation

The property provides well proportioned accommodation arranged over two floors. The ground floor comprises an entrance hall, spacious living room and kitchen, whilst to the first floor there are two bedrooms and a family bathroom.

Location

Harrogate Terrace is conveniently located within Murton, with a range of local amenities, schools and transport links nearby, whilst Seaham and the wider North East are readily accessible.

Tenure / Property Information

Investment Analysis

Same-street completed sales range from £43,500 to £76,000, with the most recent evidence at £68,500 and £76,000. Because bedroom counts, condition and exact comparability are not supplied, a cautious evidence-based base GDV of £58,000 is used, with £47,000 low and £76,000 high scenarios. The guide midpoint is £40,000, but condition, lease details and additional auction costs remain unquantified.

Investment Snapshot

Strategy Recommendation

Do not underwrite on rental income or a flip surplus yet. Obtain the legal pack, inspect the property and quantify works and all additional charges before bidding; only proceed if the all-in cost remains comfortably below the evidence-supported resale range.

Works Required

Modernisation and improvement of the two-storey accommodation, subject to inspection. The supplied description does not identify specific defects or provide a quantified works schedule, so no refurbishment allowance is assumed.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At a £58,000 base GDV, 75% refinance is £43,500. However, cash left in cannot be calculated because refurbishment costs and the full acquisition-cost profile are unavailable. Lease terms, property condition and refinance eligibility also require verification.

Buy-to-Let Analysis

BTL viability cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. The £40,000 guide midpoint plus the known £3,600 admin charge would already total £43,600 before works and other possible legal, search, seller-cost, transfer or disbursement charges.

Flip Analysis

The evidence supports a broad resale-value range of £47,000 to £76,000, with £58,000 used as the base GDV. A flip surplus cannot be calculated because works, full purchase costs and selling costs are not supplied. The £3,600 admin charge and possible special-condition costs must be included in any appraisal.

Investor Risks & Due Diligence

• Property condition and required modernisation works are not specified or costed.

• No sufficiently specific rental evidence is available, preventing a reliable BTL yield assessment.

• Lease term, ground rent and other lease obligations are not supplied.

• Special conditions may create additional search, seller-cost, legal, transfer, buyer-premium or disbursement charges.

• Completed comparable prices vary materially from £43,500 to £76,000 and their bedroom counts and condition are not provided.

• Occupancy status is not supplied.

Recommendation

Do not underwrite on rental income or a flip surplus yet. Obtain the legal pack, inspect the property and quantify works and all additional charges before bidding; only proceed if the all-in cost remains comfortably below the evidence-supported resale range.

Strategy Rating

Analysis Confidence

There are five same-street completed sales and a stated guide, but bedroom comparability, condition, lease information, rent, refurbishment cost and several auction charges are unavailable.