3 Bed Semi-Detached House, Cash/Bridging Only, Consett, DH8 7BP, £375,000

Raptor Cottage, Iveston, DH8 7BP - 2 views - 2 years ago

Cash
~93 m²
+13 photos

ValuationOvervalued

Sold Prices£60K - £390K
Sold Prices/m²£793/m² - £2.5K/m²

 

 

Square Metres

~93 m²
Price/m²£4K/m²

Value Estimate

£128,855

 

 

End Value (After Refurb)

£287,500

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£93,750

Stamp Duty & Legal Fees

£18,700

Refurb Costs

£35,694

Bridging Loan Interest

£9,844

Total Cash In

£159,738

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£287,500

Mortgage (After Refinance)

£215,625

Mortgage LTV

75%

Cash Left In

£159,738

Equity

£71,875

Rent Range

£600 - £2,850

Rent Estimate

£720

Running Costs/mo

£1,062

Cashflow/mo

£-342

Cashflow/yr

£-4,109

Gross Yield

2%

Local Sold Prices

50 sold prices from £60K to £390K, average is £105.5K. £793/m² to £2.5K/m², average is £1.4K/m².

PriceDateDistanceAddressBeds 
£390K12/200.24 mi4a, Iveston Lane, Iveston, Consett, County Durham DH8 7TD3
£230K02/230.33 mi69, Iveston Lane, Iveston, Consett, County Durham DH8 7TB3
£111K12/200.67 mi157, Durham Road, Leadgate, Consett, Durham DH8 7QZ3
£80K03/210.72 mi96, Durham Road, Leadgate, Consett, County Durham DH8 7RB3
£178K02/230.76 mi162, Greenways, Consett, County Durham DH8 7DW3
£95K04/210.76 mi133, Durham Road, Leadgate, Consett, County Durham DH8 7QY3
£60K12/200.77 mi15, Willow Crescent, Consett, County Durham DH8 7RQ3
£115K07/210.77 mi39, Willow Crescent, Consett, County Durham DH8 7RQ3
£158K11/200.8 mi17, Douai Drive, Consett, County Durham DH8 7DN3
£112.5K06/210.84 mi38, Laurel Drive, Consett, County Durham DH8 7RG3
£168K02/230.85 mi42, College View, Consett, County Durham DH8 7DP3
£90.5K07/210.86 mi30, Lumley Drive, Consett, Durham DH8 7DS3
£95K02/230.88 mi133, Castledene Road, Consett, County Durham DH8 7DZ3
£69K10/210.9 mi39, Woody Close, Consett, County Durham DH8 7HN3
£142.3K02/230.92 mi101, Greenways, Consett, County Durham DH8 7DH3
£72.5K12/200.95 mi117, Castledene Road, Consett, County Durham DH8 7HL3
£80K08/210.95 mi6, Wingrove Terrace, Consett, County Durham DH8 7QE3
£95K06/231 mi7, Plantation Street, Consett, County Durham DH8 7PP3
£88K01/211.01 mi59, St Ives Road, Consett, County Durham DH8 7QB3
£88K01/211.01 mi59, St Ives Road, Consett, County Durham DH8 7QB3
£151.5K03/231.01 mi64, St Ives Road, Consett, County Durham DH8 7QB3
£119K04/231.01 mi56, Pixley Dell, Delves Lane, Consett, County Durham DH8 7DB3
£95K10/211.04 mi71, Castledene Road, Consett, County Durham DH8 7HH3
£145K03/231.04 mi43, Chapel Drive, Delves Lane, Consett, County Durham DH8 7EW3
£137.5K11/221.04 mi18, St Ives Gardens, Leadgate, Consett, County Durham DH8 7PQ3
£176K12/221.04 mi35, St Ives Gardens, Leadgate, Consett, County Durham DH8 7PQ3
£160K04/211.04 mi7, St Ives Gardens, Leadgate, Consett, Durham DH8 7PQ3
£65K03/211.05 mi7, Pontop View, Consett, County Durham DH8 7JB3
£80K12/201.06 mi57, Iveston Road, Consett, County Durham DH8 7HR3
£88.3K05/231.08 mi18, Third Street, Crookhall, Consett, County Durham DH8 7LT3
£121.5K07/231.09 mi6, Bluebell Close, Leadgate, Consett, County Durham DH8 7GA3
£70K01/211.09 mi50, Old Hall Road, Consett, County Durham DH8 7HU3
£107K06/231.09 mi56, Old Hall Road, Consett, County Durham DH8 7HU3
£116K12/221.1 mi14, Bluebell Close, Leadgate, Consett, County Durham DH8 7GA3
£69K03/231.12 mi8, Shafto Close, Consett, County Durham DH8 7JD3
£95.5K03/211.12 mi24, Lea Side, Consett, County Durham DH8 7AD3
£125K08/231.12 mi30, Lea Side, Consett, County Durham DH8 7AD3
£140K01/211.14 mi13, Patterdale Mews, Consett, County Durham DH8 6HQ3
£138K05/231.14 miSunnybrae, Delves Lane, Consett, County Durham DH8 7ER3
£62K02/211.22 mi28, Fairfield, Consett, County Durham DH8 7HA3
£65K02/231.22 mi8, Fairfield, Consett, County Durham DH8 7HA3
£159K02/211.22 mi4, Bainbridge Close, Consett, Durham DH8 7EG3
£104K02/231.24 mi24, Gloucester Road, Consett, County Durham DH8 7LL3
£77K03/211.24 mi22, Gloucester Road, Consett, County Durham DH8 7LL3
£110K04/231.25 mi18, Dere Park, Leadgate, Consett, County Durham DH8 6DG3
£70K10/211.26 mi41, Berksyde, Consett, County Durham DH8 7LJ3
£170K02/231.26 mi4, Horton Close, Consett, County Durham DH8 7EN3
£310K05/211.27 mi37, Hownsgill Drive, Consett, County Durham DH8 9ER3
£81K12/201.29 mi6, Pont Road, Consett, Durham DH8 6HE3
£97K01/211.31 mi21, Second Street, Watling Street Bungalows, Consett, Durham DH8 6HP3

Local Rents

10 rents from £600/mo to £2.9K/mo, average is £695/mo.

RentDateDistanceAddressBeds 
£65012/240.81 miDunelm Way, Consett, DH83
£65004/240.81 mi-3
£65002/240.81 mi-3
£69501/250.89 mi-3
£70012/241.04 miChapel Drive, Consett, DH83
£60012/241.07 mi-3
£75012/241.09 miBluebell Close, Leadgate, Consett, DH83
£69512/241.12 mi-3
£2,85002/251.12 mi-3
£75012/241.19 mi-3

Local Area Statistics

Population in DH8

38,324

Population in Consett

38,379

Town centre distance

1.91 miles away

Nearest school

0.90 miles away

Nearest train station

8.52 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+9%

Sales demand

Seller's market

Capital growth (5yrs)

+14%

Property History

Listed for £375,000

May 3, 2023

Floor Plans

Description

A bespoke, architecturally designed, new build home with breath-taking valley views, located in the exclusive village of Iveston, offering the unique opportunity to add your own personal touch with a choice of internal finishes.

Internally the property briefly comprises:- Entrance vestibule, entrance hall, downstairs w/c, lounge, open plan kitchen diner with stunning corner glazed façade opening out onto the rear garden making it a perfect space for entertaining.

To the first floor off the feature landing with glazed balustrade there are three bedrooms, two of which with en-suites and master with dressing area. These two bedrooms also benefit from amazing views over the valley behind and make the most of it by an extending balcony style window in bedroom two and then in the master a corner glazed sliding door with Juliet balcony. Completely the floor is a family bathroom.

Externally there is a private garden and drive to the front leading to the integral garage and then to the rear a sunny South facing rear garden with uninterrupted views.

An early viewing is recommended and the finished mirror image of this property next door can be viewed to witness first hand the finish and quality of build.

Local Information
Iveston is a popular and attractive semi-rural village which lies a short distance from Consett amidst beautiful countryside. The old railway line, now known as the Lanchester Valley Walk, runs between Consett and Durham where it links at each end with a further network of other disused railways and tracks for walking and cycling. At the Consett end the footpath links to the C2C cycle route, an award-winning national cycle route stretching from Whitehaven and Workington in the North West of England to Sunderland or Tynemouth in the North East.

Nearby Leadgate and Consett offer a comprehensive range of shopping and recreational services while the historic, cathedral city of Durham, which is very accessible, provides comprehensive professional, cultural, educational and recreational facilities. For schooling Lanchester and Consett offer a choice of primary and secondary schools. There are also excellent private schools available nearby in Durham and Newcastle.

For the commuter, Iveston is ideally placed for access to the major centres of the north east. The A68 provides access both north and south linking to both the motorway network and to the A69 for quick connection to Newcastle in the east and Carlisle in the west. The A691 offers easy access to Durham and Consett. The Metro Centre in Gateshead, Newcastle International Airport, Newcastle and Durham Rail Stations are all extremely accessible, providing excellent transport links.

Approximate Mileages
Consett 2.5 miles | Durham City Centre 11.0 miles | Corbridge 15.6 miles | Newcastle City Centre 16.3 miles | Newcastle International Airport 18.3 miles

IMPORTANT NOTE TO PURCHASERS
We endeavour to make our property details accurate, however, they do not constitute or form part of an offer or any contract and are not to relied upon as statements of representation or fact. Any services, systems and appliances listed in the details have not been tested by us and no guarantee is given to their operating ability or efficiency. All the measurements and floor plans have been taken as a guide to prospective purchasers and are not to be relied upon. Please be advised that some of the information may be awaiting vendor approval. If you require clarification of further information on any points please contact us direct.

MAKING AN OFFER Please note that all offers will require financial verification including mortgage agreement in principle, proof of deposit funds, proof of available cash and full chain details including selling agents and solicitors down the chain. Under New Money Laundering Regulations we require proof of identification from all buyers before acceptance letters are sent and solicitors can be instructed.

Tenure - We are not able to verify the tenure of the property as it is not always possible to see sight of the relevant documentation prior to marketing. Prospective purchasers must make further enquiries with their legal adviser

Tenure: Freehold

Agent Details

Jan Mitchell Properties, Covering North East

0191 625 1034

Next Steps?

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