A three-bedroom property is up for auction with a guide price of £5,000 which is a similar price to a ten-year-old Fiat. The terraced flat in Hartlepool, County Durham, comes with tenants who rent at £500 a month meaning landlords could rake in an annual £6,000 and pay for the house in less than a year. It boasts an entrance hall, lounge, dining room, kitchen, three bedrooms and a family bathroom over the two-storey property. The St Oswalds Street property, in one of the most deprived local authorities in England, is one of six homes being auctioned by Royal Estates, Birmingham at £5,000 that come with three bedrooms. A French bulldog and a Louis Vuitton suitcase are also said to cost a similar amount as these homes. A three-bedroom property has gone on sale for just £5k on St Oswalds Street, Hartlepool, County Durham - the same price as a ten-year-old Fiat 500 Hatchback or a Louis Vuitton vintage suitcase The property comes with tenants who rent at £500 a month meaning landlords could rake in an annual £6K and pay for the house in less than a year. Pictured: The living room is spacious and contains a fireplace and a grey carpet The kitchen shows counter tops, cupboards, a radiator and exposed wooden floor that could be transformed by sanding them down and transforming them into modern flooring But analysis by Rightmove shows that properties in Hartlepool were sold on average at £150,288 over the last year. The majority of sales in Hartlepool during the last year were terraced properties, selling for an average price of £86,505. Semi-detached properties sold for an average of £142,287, with detached properties fetching £266,258. The house boasts an entrance hall, lounge, dining room, kitchen, three bedrooms and a family bathroom Brendan Pearce, lettings valuer at Royal Estates, Birmingham, speaking about the St Oswalds property, said: 'The price is so low because it's an auction and we want people to be interested in the property. 'If someone actually buys it for £5,000 in the auction they've found a gold mine. 'It's perfect for first time buyers as they can get a bargain through auction and evict the tenants within two months, which sounds a bit mean, but you can. 'Or, if you are an investor wanting to add more properties to your portfolio you already have an income stream. 'It's a really nice property and well-looked after. There's a stigma that auction houses are bad properties but that isn't the case anymore. 'Auctioning is more about competitive bidding where people can get a good price and the vendor can sell the property easier than traditional sales and have the money cleared within 28 days.' It is also a mere stones throw away from Hartlepool marina and local amenities. Additionally, the home is only 0.7 miles from Hartlepool Station so new owners could be in the nation's capital within four hours. Pictured: The family bathroom It is close to Hartlepool marina and local amenities and only 0.7 miles from Hartlepool Station so new owners could be in London within four hours. The auction set to kick off on Monday, May 16 at 12pm is subject to an administration fee, the greater of £2,500 plus VAT or 1.75% plus VAT of the purchase price, which is payable at the end of the auction. The deposit for exchange of contracts on this property is 10% subject to a minimum of £ 10,000. The completion period for this property is 28 days. All rights reserved for this news site (dailymail) and under his responsibility