3 Bed Terraced House, Refurb/BRRR, Stockton-on-Tees, TS17 6JN, £62,000

Peel Street, TS17 6JN - 27 views - 2 years ago

Refurb/BRRR
Negative Equity
ROI: 7%
~93 m²
+7 photos

ValuationUndervalued

Sold Prices£40K - £134K
Sold Prices/m²£405/m² - £1.6K/m²

 

 

Square Metres

~93 m²
Price/m²£667/m²

Value Estimate

£63,860
BMV3%

 

 

End Value (After Refurb)

£80,503

Uplift in Value

+30%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£15,500

Stamp Duty & Legal Fees

£3,060

Refurb Costs

£36,849

Bridging Loan Interest

£1,628

Total Cash In

£58,787

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£80,503

Mortgage (After Refinance)

£60,377

Mortgage LTV

75%

Cash Released

£13,877

Cash Left In

£44,909

Equity

£20,126

Rent Range

£600 - £885

Rent Estimate

£753

Running Costs/mo

£422

Cashflow/mo

£331

Cashflow/yr

£3,970

ROI

7%

Gross Yield

15%

Local Sold Prices

50 sold prices from £40K to £134K, average is £75K. £405/m² to £1.6K/m², average is £808/m².

PriceDateDistanceAddressBeds 
£58.5K11/230.08 mi70, Victoria Road, Thornaby, Stockton-on-tees TS17 6HH3
£75K10/230.08 mi44, Victoria Road, Thornaby, Stockton-on-tees TS17 6HH3
£86K04/230.11 mi39, St Pauls Road, Thornaby, Stockton-on-tees TS17 6LH3
£92.5K08/230.13 mi27, Cuthbert Close, Thornaby, Stockton-on-tees TS17 6PJ3
£73K11/230.15 mi32, Peel Street, Thornaby, Stockton-on-tees TS17 6HL3
£50K01/240.16 mi3, Oxford Road, Thornaby, Stockton-on-tees TS17 6LJ3
£92.5K06/210.16 mi197, Thornaby Road, Thornaby, Stockton-on-tees TS17 6LS3
£84K01/240.17 mi13, Church Close, Thornaby, Stockton-on-tees TS17 6LB3
£71K08/210.17 mi49, Grange Road, Thornaby, Stockton-on-tees TS17 6LT3
£42.5K12/200.18 mi26, Stranton Street, Stockton-on-tees TS17 6LL3
£40K12/200.18 mi8, Stranton Street, Stockton-on-tees TS17 6LL3
£98K01/230.18 mi2, Grange Road, Thornaby, Stockton-on-tees TS17 6LU3
£57K03/210.19 mi17, Scarborough Street, Thornaby, Stockton-on-tees TS17 6HR3
£57K03/210.19 mi17, Scarborough Street, Thornaby, Stockton-on-tees TS17 6HR3
£57K03/210.19 mi17, Scarborough Street, Thornaby, Stockton-on-tees TS17 6HR3
£67.5K03/230.2 mi59, Stranton Street, Thornaby, Stockton-on-tees TS17 6LN3
£60K10/200.22 mi22, Lanehouse Road, Thornaby, Stockton-on-tees TS17 8AG3
£88K11/230.22 mi8, Lanehouse Road, Thornaby, Stockton-on-tees TS17 8AG3
£67.9K11/210.23 mi162, Westbury Street, Thornaby, Stockton-on-tees TS17 6NB3
£68.5K03/230.24 mi23, Roseberry View, Thornaby, Stockton-on-tees TS17 7HP3
£82K02/230.25 mi36, Lanehouse Road, Thornaby, Stockton-on-tees TS17 8AD3
£80K09/230.26 mi40, Chestnut Grove, Thornaby, Stockton-on-tees TS17 8AJ3
£48K04/210.28 mi23, Falkirk Street, Thornaby, Stockton-on-tees TS17 7HT3
£58K12/200.29 mi33, Camelon Street, Thornaby, Stockton-on-tees TS17 7HU3
£63K05/210.29 mi27, Camelon Street, Thornaby, Stockton-on-tees TS17 7HU3
£55K02/210.29 mi9, Easton Street, Thornaby, Stockton-on-tees TS17 7DQ3
£55K02/210.29 mi9, Easton Street, Thornaby, Stockton-on-tees TS17 7DQ3
£51K10/230.3 mi2, Linden Grove, Thornaby, Stockton-on-tees TS17 8DR3
£70K10/230.3 mi101, Mansfield Avenue, Thornaby, Stockton-on-tees TS17 7HZ3
£75K08/230.32 mi4, Fir Grove, Thornaby, Stockton-on-tees TS17 8DN3
£64K01/210.34 mi19, Thorntree Road, Thornaby, Stockton-on-tees TS17 8AW3
£55K08/230.34 mi55, Mansfield Avenue, Thornaby, Stockton-on-tees TS17 7EG3
£127.5K03/210.35 mi70, Lanehouse Road, Thornaby, Stockton-on-tees TS17 8EA3
£112.5K06/230.35 mi10, The Avenue, Thornaby, Stockton-on-tees TS17 7JF3
£50K09/210.4 mi5, Heslop Street, Thornaby, Stockton-on-tees TS17 7HA3
£95K06/210.4 mi15, Park Avenue, Thornaby, Stockton-on-tees TS17 7JN3
£73.5K05/210.4 mi5, Park Avenue, Thornaby, Stockton-on-tees TS17 7JN3
£95K03/210.4 mi11, Park Avenue, Thornaby, Stockton-on-tees TS17 7JN3
£85K08/230.41 mi33, Gilpin Road, Thornaby, Stockton-on-tees TS17 8PF3
£120K10/230.42 mi282, Thornaby Road, Thornaby, Stockton-on-tees TS17 8PE3
£95K09/210.43 mi16, Danby Grove, Thornaby, Stockton-on-tees TS17 8BX3
£83K10/210.43 mi15, Danby Grove, Thornaby, Stockton-on-tees TS17 8BX3
£88K03/230.43 mi10, Danby Grove, Thornaby, Stockton-on-tees TS17 8BX3
£100K07/210.45 mi12, Belvedere Road, Thornaby, Stockton-on-tees TS17 7JH3
£95K03/210.45 mi5, Sandringham Road, Thornaby, Stockton-on-tees TS17 7JW3
£110K03/230.47 mi22, Balmoral Avenue, Thornaby, Stockton-on-tees TS17 7JP3
£125K10/230.5 mi6, Witton Park, Stockton-on-tees TS18 3BE3
£100K11/210.5 mi48, Witton Park, Stockton-on-tees TS18 3BE3
£134K02/210.5 mi100, Acklam Road, Thornaby, Stockton-on-tees TS17 7JR3
£92.5K06/230.5 mi8, Hough Crescent, Thornaby, Stockton-on-tees TS17 8PQ3

Local Rents

18 rents from £600/mo to £885/mo, average is £750/mo.

RentDateDistanceAddressBeds 
£70003/250.06 mi-3
£70002/240.11 mi-3
£75011/240.11 mi-3
£69510/240.11 miSt. Pauls Road, TS173
£60010/240.15 miHavelock Street, TS173
£75003/250.21 mi-3
£65003/250.28 mi-3
£65010/240.28 miFalkirk Street, Thornaby3
£75010/240.32 mi85 Mansfield Avenue, TS173
£85001/250.33 mi-3
£65010/240.38 mi-3
£77510/240.47 mi-3
£88510/240.55 mi-3
£79510/240.56 miLindisfarne Avenue, Stockton-On-Tees3
£85010/240.58 miLindisfarne Avenue, Thornaby, STOCKTON-ON-TEES3
£85003/250.6 mi-3
£80010/240.62 mi-3
£80010/240.62 miHope Gardens, Stockton-On-Tees, TS183

Local Area Statistics

Population in TS17

44,647

Population in Stockton-on-Tees

149,709

Town centre distance

1.59 miles away

Nearest school

0.30 miles away

Nearest train station

0.42 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+19%

Sales demand

Seller's market

Capital growth (5yrs)

+12%

Property History

Listed for £62,000

-26%

March 1, 2023

Sold for £78,000

2008

Sold for £62,500

2006

Description

NO ONWARD CHAIN, INVESTMENT OPPORTUNITY

We are pleased to offer this 3 bedroom mid terraced home. The property is in need of some modernisation and the asking price is reflected based on this.
Property briefly comprises of the following entrance hall ,open plan living/dining room leading to kitchen & bathroom. First floor has 3 good sized bedrooms.

Entrance Hall
Wooden framed door to front elevation, carpet & radiator

Living/Dining Room
11.02 x 10.67 - 11.02 x 10.68
Open plan living/diner with double glazed windows to front and rear aspect, carpets and radiators

Kitchen
11.64 x7.39
Fitted with a range of wall and base units, sink with drainer and mixer tap, integrated oven, hob and extractor fan. breakfasting area.

Family Bathroom
7.38 x 5.46
Fitted with corner bathroom suite and shower mixer taps

Bedroom 1
13'03 x 9'04
Double bedroom with DG window, carpets and radiator

Bedroom 2
8.89 x 11.38 Double bedroom with carpets and radiator

Bedroom 3
7.77 x 9.4

Agent Details

Magnum Properties Ltd, Middlesbrough

01642 056337

Next Steps?

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