Michael Hodgson says ..

Property Oracle says ..

This property is a terraced house located in Sunderland, Tyne and Wear. The listing price is £120,000. The property is in need of significant renovation, as evidenced by the provided photographs showing stripped-back walls, exposed pipes, and damaged flooring. There is no information available regarding the size of the property or land, so an accurate assessment of value per square foot is not possible. However, nearby comparable properties range in price from £58,000 to £435,000, indicating a wide range of values in the area. The average house price in the area is £222,851, significantly higher than the asking price of this property. The property is located near several schools, including St Anthony’s Girls’ Catholic Academy (Outstanding Ofsted rating) and Ashbrooke School (Good Ofsted rating), and is within walking distance of Sunderland train station. This suggests a convenient location. However, without knowing the size of the property and the specifics of the land, it is difficult to conclusively determine the value. The property requires substantial renovation, which will impact the overall cost. Given the need for extensive renovation and the lack of information on size, a conclusive determination on the price is difficult. However, the significant difference between the asking price and the average price in the area suggests that the property may be undervalued if the size is comparable to other properties in the area. Further information on the size and specifics of the property is needed for a comprehensive analysis.

Therefore, we give this property 4 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

Images