Unfortunately the St Peters Ward is one of areas in Sunderland affected by the 'Article 4' legislation meaning planning permission would need to be sought to change the use from a single dwelling to HMO (otherwise a good cashflowing alternative would have been to let it to working professionals on a room-by-room basis)
Click here for details http://www.zoopla.co.uk/for-sale/details/41438604
Interestingly the most recent comparable sale on this street was last year and the property (done up to a very basic standard) sold for £211,900 - click here for details http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=46704403&sale=76805076&country=england
I'd suggest any potential 'Flipper' would make more by potentially spending a little more on a better quality kitchen and bathroom than the one above, and applying some interior design techniques (even just decorating in a colour scheme fitting of a family home rather than wall-to-wall magnolia) would increase the likely return
Call me if you'd like to discuss this opportunity or any aspect of property investment (be it Buy to Sell or Buy to Let) in Sunderland - call 0191 567 8577 or email neil.whitfield@belvoirlettings.com
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