Considering the property’s condition, location, and lack of land, the list price of £4,000 seems somewhat reasonable for an auction property in need of extensive renovation. However, the low price is likely reflective of the significant work required. The nearby comparable properties, even those needing work, are significantly more expensive, suggesting that this property’s price might be slightly undervalued for its potential, but that potential is heavily offset by the extensive work required.

The provided photographs clearly show the property is in need of significant repair and renovation. The interior is cluttered and unclean, and there is visible damage and disrepair in several areas, including the bathroom. This requires a substantial investment to bring it up to a habitable standard.

The property is located in Peterlee, County Durham. While it’s close to schools like Acre Rigg Academy and Acre Rigg Infant School (both rated ‘Good’ by Ofsted), and relatively near East Durham College and Endeavour Academy, the overall area doesn’t have the same amenities or desirability as more affluent areas. The proximity to transport links is limited to a train station in Seaham, which is a considerable distance away. Therefore, a middling score reflects this.

The property appears to have a small amount of land, possibly a small front garden. No specific details on plot size are available, but based on the images, it’s not a significant feature of the property.