2 Bed Flat, Single Let, Durham, DH1 1EG, £105,000

Pickering Place, Carville, Durham, DH1 1EG - 3 views - a year ago

Leasehold

BTL

ROI: 5%

~73 m²

+4 photos

ValuationUndervalued

Sold Prices	£42.5K - £260K
Sold Prices/m²	£823/m² - £4K/m²

Square Metres	~72.70 m²
Price/m²	£1.4K/m²
Value Estimate	£117,393£117,393
BMV	12%

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£26,250£26,250
Stamp Duty & Legal Fees	£4,350£4,350
Total Cash In	£30,600£30,600

Cash Out
Rent Range	£525 - £1,900£525 - £1,900
Rent Estimate	£600
Running Costs/mo	£468£468
Cashflow/mo	£132£132
Cashflow/yr	£1,583£1,583
ROI	5%5%
Gross Yield	7%7%

Local Sold Prices

37 sold prices from £42.5K to £260K, average is £89K. £823/m² to £4K/m², average is £1.6K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£95K	05/21	0.26 mi	14, Bishops Close, Durham DH1 2BU	£1,796	53	2	Flat
£92K	11/20	0.74 mi	21, Shepherds Court, Gilesgate, Durham, County Durham DH1 1JQ	£1,559	59	2	Flat
£89K	08/21	0.87 mi	74, Prebends Field, Durham, County Durham DH1 1HJ	£1,679	53	2	Flat
£140K	06/23	0.87 mi	7, Herons Court, Durham, County Durham DH1 2HD	£1,458	96	2	Flat
£126K	08/22	0.87 mi	12, Herons Court, Durham, County Durham DH1 2HD	£1,286	98	2	Flat
£155K	03/23	1.31 mi	23, St Giles Close, Gilesgate, Durham, County Durham DH1 1XH	£3,174	49	2	Flat
£160K	08/21	1.31 mi	33, St Giles Close, Gilesgate, Durham DH1 1XH	£2,369	68	2	Flat
£146K	05/21	1.31 mi	22, St Giles Close, Gilesgate, Durham DH1 1XH	£2,212	66	2	Flat
£55K	08/22	1.41 mi	13, Mitford Drive, Sherburn Village, Durham, County Durham DH6 1QS	-	-	2	Flat
£42.5K	02/23	1.41 mi	35, Mitford Drive, Sherburn Village, Durham, County Durham DH6 1QS	-	-	2	Flat
£72.5K	06/23	1.41 mi	31, Mitford Drive, Sherburn Village, Durham, County Durham DH6 1QS	-	-	2	Flat
£87.5K	04/23	1.52 mi	42, Blanchland Avenue, Durham, County Durham DH1 5XP	£2,188	40	2	Flat
£87K	08/22	1.6 mi	76, Lindisfarne Road, Durham, County Durham DH1 5YQ	-	-	2	Flat
£75K	04/21	1.62 mi	23, Halton Road, Durham DH1 5YJ	£1,442	52	2	Flat
£70K	12/20	1.62 mi	35, Halton Road, Durham, County Durham DH1 5YJ	£1,296	54	2	Flat
£80K	06/21	1.67 mi	10, Hamsterley Crescent, Durham DH1 5SS	£1,356	59	2	Flat
£80K	06/21	1.67 mi	10, Hamsterley Crescent, Durham DH1 5SS	£1,356	59	2	Flat
£69K	12/22	1.67 mi	11, Glens Flats, High Pittington, Durham, County Durham DH6 1AR	£1,169	59	2	Flat
£86K	08/22	1.73 mi	111, Carr House Drive, Durham, County Durham DH1 5XW	-	-	2	Flat
£90K	11/21	1.73 mi	10, Lambton View, Rainton Gate, Houghton Le Spring, Durham DH4 6QL	-	-	2	Flat
£90K	11/21	1.73 mi	10, Lambton View, Rainton Gate, Houghton Le Spring, Durham DH4 6QL	-	-	2	Flat
£88K	07/23	1.73 mi	19, Lambton View, Rainton Gate, Houghton Le Spring, County Durham DH4 6QL	£1,504	59	2	Flat
£98.5K	03/22	1.73 mi	18, Lambton View, Rainton Gate, Houghton Le Spring, County Durham DH4 6QL	£1,615	61	2	Flat
£80K	12/21	1.73 mi	12, Lambton View, Rainton Gate, Houghton Le Spring, County Durham DH4 6QL	£1,290	62	2	Flat
£48K	03/21	1.73 mi	107, Carr House Drive, Durham, County Durham DH1 5XW	-	-	2	Flat
£68K	10/20	1.77 mi	71, Rochester Road, Durham DH1 5PW	£1,283	53	2	Flat
£82.6K	01/21	1.77 mi	21, Auckland Road, Durham DH1 5PL	£1,572	53	2	Flat
£235K	04/21	1.79 mi	188, York Crescent, Durham, County Durham DH1 5QS	£3,983	59	2	Flat
£185K	03/21	1.82 mi	13, Freemans Quay, Durham DH1 1SW	£2,803	66	2	Flat
£112.5K	02/23	1.83 mi	21, Claypath Court, Durham, County Durham DH1 1QE	£1,875	60	2	Flat
£93K	06/23	1.83 mi	41, Claypath Court, Durham, County Durham DH1 1QE	£823	113	2	Flat
£103K	10/22	1.83 mi	40, Claypath Court, Durham, County Durham DH1 1QE	£1,746	59	2	Flat
£260K	01/23	1.9 mi	1, Freemans Quay, Durham, County Durham DH1 1SW	£3,768	69	2	Flat
£88K	10/20	1.91 mi	82, Rothbury Road, Durham DH1 5QB	£1,795	49	2	Flat
£260K	04/23	1.92 mi	Flat 16, St Andrews Court, New Elvet, Durham, County Durham DH1 3AH	-	-	2	Flat
£188K	08/23	1.92 mi	Flat 26, St Andrews Court, New Elvet, Durham, County Durham DH1 3AH	£2,806	67	2	Flat
£86.5K	02/21	1.92 mi	66, Middleham Road, Durham DH1 5QH	£1,545	56	2	Flat

Local Rents

21 rents from £525/mo to £1.9K/mo, average is £890/mo.

Rent	Date	Distance	Address	Beds	Type
£750	12/24	0.01 mi	Pickering Place, Durham, DH1	2	Flat
£820	09/24	0.2 mi	-	2	Flat
£750	09/23	0.2 mi	-	2	Flat
£650	12/24	0.2 mi	Belmont Court - DH1	2	Flat
£1,550	06/23	0.22 mi	-	2	Flat
£1,900	12/24	0.22 mi	-	2	Flat
£1,900	12/24	0.22 mi	-	2	Flat
£1,900	12/24	0.22 mi	-	2	Flat
£1,700	03/25	0.22 mi	-	2	Flat
£800	09/24	0.23 mi	-	2	Semi-Detached House
£950	08/24	0.23 mi	-	2	Flat
£550	12/24	0.25 mi	Bishops Close, Belmont	2	Flat
£880	08/23	0.27 mi	-	2	Semi-Detached House
£890	03/25	0.27 mi	-	2	Semi-Detached House
£890	11/24	0.3 mi	-	2	Semi-Detached House
£700	04/24	0.37 mi	-	2	Terraced House
£1,200	12/24	0.38 mi	Cheveley Court , Durham	2	Flat
£850	08/23	0.38 mi	-	2	Flat
£900	06/24	0.38 mi	-	2	Flat
£900	10/24	0.38 mi	-	2	Flat
£525	03/23	0.4 mi	-	2	Terraced House

Local Area Statistics

Population in DH1	49,93849,938
Population in Durham	124,445124,445
Town centre distance	1.92 miles away1.92 miles away
Nearest school	0.10 miles away0.10 miles away
Nearest train station	2.15 miles away2.15 miles away

Rental demand	Balanced marketBalanced market
Rental growth (12m)	+5%+5%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+10%+10%

Property History

Listed for £105,000

May 2, 2024

Floor Plans

Description

Two Bedroom Apartment +
Close To A1 & Central Durham +
Investment Opportunity or Vacant Possession +
Current Rent £800pcm +
Gross Yield 9.1% (Pre Service Charge) +

Top Floor ApartmentTwo BedroomsInvestment Opportunity A purpose-built modern apartment well placed for access to A1 road links, local amenities, and Central Durham. Currently let until September 2024 the property achieves a rent of £820pcm and a gross yield of 9.4% before service charge payments. The flat enjoys a Communal Entrance and includes a Private Reception Hall, a Living Room / Dining Room with an open-plan Kitchen Area, a Main Bedroom with an En-Suite Shower Room, a Second Bedroom, and a Bathroom. With double glazing, electric heating, and car parking, viewing is highly recommended.
Council Tax: C

Agent Details

Pat Robson, Jesmond

0191 625 0204

Next Steps?

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

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