2 Bed Bungalow, Refurb/BRRR, Sunderland, SR2 9SZ, £134,950

3 Irene Avenue, Sunderland, Tyne And Wear, SR2 9SZ - 2 years ago

Leasehold
Refurb/BRRR
ROI: 1%
~68 m²
+5 photos

ValuationOvervalued

Sold Prices£30K - £182K
Sold Prices/m²£486/m² - £2.8K/m²

 

 

Square Metres

~68.11 m²
Price/m²£2K/m²

Value Estimate

£75,528

 

 

End Value (After Refurb)

£139,225

Uplift in Value

+-1%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£33,738

Stamp Duty & Legal Fees

£5,399

Refurb Costs

£26,000

Bridging Loan Interest

£3,542

Total Cash In

£70,428

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£139,225

Mortgage (After Refinance)

£104,419

Mortgage LTV

75%

Cash Released

£3,206

Cash Left In

£67,222

Equity

£34,806

Rent Range

£475 - £765

Rent Estimate

£649

Running Costs/mo

£585

Cashflow/mo

£64

Cashflow/yr

£769

ROI

1%

Gross Yield

6%

Local Sold Prices

50 sold prices from £30K to £182K, average is £107K. £486/m² to £2.8K/m², average is £1.3K/m².

PriceDateDistanceAddressBeds 
£120K02/210.05 mi24, Irene Avenue, Sunderland, Tyne And Wear SR2 9SZ2
£137.5K08/230.06 mi40, Joan Avenue, Sunderland, Tyne And Wear SR2 9TA2
£128K06/230.09 mi3, Tarn Drive, Sunderland, Tyne And Wear SR2 9TL2
£128K02/210.09 mi22, Tarn Drive, Sunderland, Tyne And Wear SR2 9TL2
£113.4K05/210.09 mi3, Tarn Drive, Sunderland, Tyne And Wear SR2 9TL2
£141.5K02/210.09 mi24, Tarn Drive, Sunderland, Tyne And Wear SR2 9TL2
£128K02/210.09 mi22, Tarn Drive, Sunderland, Tyne And Wear SR2 9TL2
£132.5K06/230.18 mi7, Ayton Avenue, Sunderland, Tyne And Wear SR2 9SN2
£108K07/210.28 mi69, Lynthorpe, Sunderland, Tyne And Wear SR2 0EU2
£118.5K04/210.3 mi25, Lyngrove, Sunderland, Tyne And Wear SR2 0EX2
£95K03/230.3 mi15, Lyngrove, Sunderland, Tyne And Wear SR2 0EX2
£88K06/230.31 mi52, Sea View Street, Sunderland, Tyne And Wear SR2 9QX2
£75K06/210.34 mi14, Carnegie Street, Sunderland, Tyne And Wear SR2 9RL2
£73.5K01/210.35 mi25, Oxbridge Street, Sunderland, Tyne And Wear SR2 9NQ2
£85K12/220.35 mi22, Ocean Road North, Sunderland, Tyne And Wear SR2 9QU2
£85K02/210.37 mi1, Grange Street South, Sunderland, Tyne And Wear SR2 9QS2
£115K12/210.42 mi56, Leechmere Road, Sunderland, Tyne And Wear SR2 9NE2
£75K06/210.43 mi18, Regent Terrace, Sunderland, Tyne And Wear SR2 9QN2
£130K01/230.5 mi7, Larkhill, Sunderland, Tyne And Wear SR2 0DF2
£112.3K09/210.51 mi7, Larkhill, Sunderland, Tyne And Wear SR2 0DF2
£108.5K10/200.53 mi37, Hollycarrside Road, Sunderland, Tyne And Wear SR2 0ED2
£165.8K08/210.57 mi7, Warnham Avenue, Sunderland, Tyne And Wear SR2 9PH2
£95K03/230.57 mi148, Leechmere Road, Sunderland, Tyne And Wear SR2 9JE2
£135K03/210.58 mi9, Ronaldsay Close, Ryhope, Sunderland, Tyne And Wear SR2 0TF2
£139.9K02/230.58 mi4, Westray Close, Ryhope, Sunderland, Tyne And Wear SR2 0TD2
£112K02/230.59 mi24, Linskell, Sunderland, Tyne And Wear SR2 0EP2
£150K02/210.61 mi4, Winalot Avenue, Sunderland, Tyne And Wear SR2 9PL2
£115K07/230.62 mi11, Hereford Court, Sunderland, Tyne And Wear SR2 9LD2
£106K04/210.63 mi160, Leechmere Road, Sunderland, Tyne And Wear SR2 9JE2
£153K11/200.65 mi56, Queen Alexandra Road, Sunderland, Tyne And Wear SR2 9PB2
£182K01/210.65 mi3, Romney Avenue, Sunderland, Tyne And Wear SR2 7UQ2
£120.7K11/200.68 mi3, Rainford Avenue, Sunderland, Tyne And Wear SR2 7UJ2
£34K04/230.71 mi167, St Leonard Street, Sunderland, Tyne And Wear SR2 8PZ2
£33K12/200.71 mi165, St Leonard Street, Sunderland, Tyne And Wear SR2 8PZ2
£115K02/230.73 mi68, Shaftesbury Avenue, Sunderland, Tyne And Wear SR2 0AQ2
£103K06/230.76 mi18, Western Hill, Ryhope, Sunderland, Tyne And Wear SR2 0AR2
£110K07/230.77 mi45, Helvellyn Road, Sunderland, Tyne And Wear SR2 9JJ2
£55K09/210.77 mi8, Thomas Street, Ryhope, Sunderland, Tyne And Wear SR2 0RF2
£73.5K11/200.77 mi47, Thomas Street, Ryhope, Sunderland, Tyne And Wear SR2 0RF2
£90K09/210.78 mi31, Smith Street, Ryhope, Sunderland, Tyne And Wear SR2 0RG2
£37.5K12/200.79 mi122, Cairo Street, Sunderland, Tyne And Wear SR2 8QN2
£36K04/230.79 mi121, Cairo Street, Hendon, Sunderland, Tyne And Wear SR2 8QN2
£48K03/210.81 mi110, Canon Cockin Street, Sunderland, Tyne And Wear SR2 8PR2
£45K12/220.81 mi129, Canon Cockin Street, Sunderland, Tyne And Wear SR2 8PR2
£49K12/220.82 mi136, Canon Cockin Street, Sunderland, Tyne And Wear SR2 8PR2
£50K04/210.85 mi41, Thomas Street South, Ryhope, Sunderland, Tyne And Wear SR2 0PD2
£50K03/210.85 mi11, Thomas Street South, Ryhope, Sunderland, Tyne And Wear SR2 0PD2
£33K04/230.89 mi75, Cairo Street, Hendon, Sunderland, Tyne And Wear SR2 8QL2
£101K01/210.9 mi2, Stewart Avenue, Sunderland, Tyne And Wear SR2 0JR2
£30K11/200.9 mi52, St Leonard Street, Sunderland, Tyne And Wear SR2 8QE2

Local Rents

24 rents from £475/mo to £765/mo, average is £595/mo.

RentDateDistanceAddressBeds 
£52508/230.32 mi-2
£65009/240.33 miOcean Road South, Grangetown2
£59509/240.36 miTrevarren Drive, Sunderland2
£65001/250.38 mi-2
£47510/230.43 mi-2
£47508/240.43 mi-2
£59509/240.67 miSt. Leonard Street, Hendon, Sunderland, Tyne and Wear, SR2 8PZ2
£58501/250.74 mi-2
£60007/240.79 mi-2
£70009/240.82 miDinsdale Street, Sunderland, Tyne and Wear, SR22
£60009/240.83 miSt. Leonard Street, Sunderland, Tyne and Wear, SR22
£55003/250.87 mi-2
£65503/250.87 mi-2
£52508/240.89 mi-2
£59503/250.9 mi-2
£76509/240.92 miSaint Leonard Street, Sunderland, SR22
£75009/240.92 mi-2
£50003/250.93 mi-2
£59509/240.96 miBeechbrooke, Ryhope, Sunderland2
£70009/240.99 miOrchard House, Belford Close, SUNDERLAND, SR22
£69011/241.02 mi-2
£47509/241.05 miVillette Road, Hendon, Sunderland2
£55009/241.09 mi-2
£58003/251.17 mi-2

Local Area Statistics

Population in SR2

33,440

Population in Sunderland

183,740

Town centre distance

2.68 miles away

Nearest school

0.60 miles away

Nearest train station

1.67 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+23%

Sales demand

Balanced market

Capital growth (5yrs)

-5%

Property History

Price changed to £134,950

December 4, 2024

Listed for £139,950

April 27, 2023

Sold for £33,500

1995

Description

  • EXCELLENT POTENTIAL +
  • NO ONWARD CHAIN +
  • POPULAR LOCATION +
  • EXCELLENT TRANSPORT LINKS +
  • DINING KITCHEN +
  • VIEWING A MUST +

Welcome to Irene Avenue, a charming 2 bed semi-detached bungalow in need of some improvements and offering excellent potential located in the sough after area of Grangetown and is ideally placed for a range of amenities, close to shops and has excellent transport links. This lovely property has an entrance hall that leads to a  lounge area perfect for relaxing after a long day.The dining kitchen is well-proportioned and offers ample space for meal preparation. With two comfortable bedrooms, this home is ideal for small families, couples, or individuals who desire a low-maintenance lifestyle.The shower room is conveniently located and provides a refreshing space to start and end your day. The property features gardens to both the front and rear, offering plenty of outdoor space to enjoy. The gated driveway provides secure off-street parking.Overall, this is a wonderful opportunity to acquire a delightful bungalow with lots of potential in a highly desirable location. Don't miss your chance to view this property and see all that it has to offer!

Agent Details

Dowen, Sunderland

0191 625 0868

Next Steps?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪