2 Bed Bungalow, Cash/Bridging Only, Consett, DH8 0QJ, £250,000

East Law, Consett, DH8 0QJ - a year ago

Cash
~135 m²
+21 photos

ValuationOvervalued











Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£62,500

Stamp Duty & Legal Fees

£8,700

Refurb Costs

£51,967

Bridging Loan Interest

£6,563

Total Cash In

£131,480

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£252,855

Mortgage (After Refinance)

£189,642

Mortgage LTV

75%

Cash Released

£2,142

Cash Left In

£129,338

Equity

£63,214

Rent Range

£370 - £1,150

Rent Estimate

£687

Running Costs/mo

£948

Cashflow/mo

£-261

Cashflow/yr

£-3,127

Gross Yield

3%

Local Sold Prices

50 sold prices from £58K to £242K, average is £110K. £842/m² to £4.2K/m², average is £1.5K/m².

PriceDateDistanceAddressBeds 
£94.5K03/210.01 mi26, East Law, Consett, Durham DH8 0QJ2
£155K01/210.42 mi20, Springhouse Lane, Ebchester, Consett, County Durham DH8 0QF2
£242K03/210.42 mi13, Springhouse Lane, Ebchester, Consett, County Durham DH8 0QF2
£117.5K04/230.78 mi23, Elm Park Terrace, Consett, County Durham DH8 0NA2
£105K10/200.78 mi15, Elm Park Terrace, Consett, County Durham DH8 0NA2
£130K11/210.78 mi14, Elm Park Terrace, Consett, Durham DH8 0NA2
£110K11/210.79 mi3, Garden Crescent, Consett, County Durham DH8 0PT2
£95K10/200.82 mi81, Vindomora Road, Ebchester, Consett, Durham DH8 0PP2
£70K12/200.89 mi25, West View, Medomsley Edge, Consett, Durham DH8 6PB2
£80K02/230.89 mi11, West View, Medomsley Edge, Consett, County Durham DH8 6PB2
£107.5K02/210.94 mi10, Cooperative Terrace, Shotley Bridge, Consett, Durham DH8 0HW2
£235K07/231.1 mi4, The Drive, Consett, County Durham DH8 0DL2
£155K11/221.1 mi1, Wood Street, Shotley Bridge, Consett, County Durham DH8 0JE2
£135K05/211.15 mi3, Grange Terrace, Consett, County Durham DH8 6PL2
£103K04/231.18 mi19, Fines Road, Consett, County Durham DH8 6QR2
£110K12/201.2 mi46, Fines Road, Consett, Durham DH8 6QS2
£170.5K09/211.21 mi49, Benfield Close, Consett, County Durham DH8 0RH2
£85K11/201.32 mi14, St Cuthberts Avenue, Consett, County Durham DH8 0LR2
£193K12/221.36 mi3, The Bungalows, High Westwood, Newcastle Upon Tyne, County Durham NE17 7QY2
£145K10/201.36 mi3, The Bungalows, High Westwood, Newcastle Upon Tyne, Durham NE17 7QY2
£200K11/231.37 mi1, The Bungalows, High Westwood, Newcastle Upon Tyne, County Durham NE17 7QY2
£150K04/241.53 mi18, Ennerdale Terrace, Low Westwood, Newcastle Upon Tyne, County Durham NE17 7PN2
£115K06/211.53 mi6, Ennerdale Terrace, Low Westwood, Newcastle Upon Tyne, Durham NE17 7PN2
£157K05/241.53 mi9, Ennerdale Terrace, Low Westwood, Newcastle Upon Tyne, County Durham NE17 7PN2
£85K01/231.54 mi43, George Street, Blackhill, Consett, County Durham DH8 0AE2
£133.5K02/231.54 mi48, Cutlers Hall Road, Blackhill, Consett, County Durham DH8 8RE2
£125K09/211.55 mi47, Cutlers Hall Road, Blackhill, Consett, Durham DH8 8RE2
£125K10/211.55 mi46, Cutlers Hall Road, Blackhill, Consett, Durham DH8 8RE2
£135K03/231.55 mi13, Pleasant View, Medomsley, Consett, County Durham DH8 6RE2
£120K03/231.55 mi4, Pleasant View, Medomsley, Consett, County Durham DH8 6RE2
£82K11/211.57 mi8, John Street, Blackhill, Consett, Durham DH8 0AD2
£93K08/211.57 mi24, John Street, Blackhill, Consett, Durham DH8 0AD2
£75.5K07/211.57 mi3, John Street, Blackhill, Consett, Durham DH8 0AD2
£98.5K12/201.59 mi60, Cutlers Hall Road, Blackhill, Consett, County Durham DH8 8RG2
£80.8K05/231.6 mi49, Thomas Street, Blackhill, Consett, County Durham DH8 0AB2
£80K02/211.6 mi37, Thomas Street, Blackhill, Consett, County Durham DH8 0AB2
£65K06/231.6 mi57, Thomas Street, Blackhill, Consett, County Durham DH8 0AB2
£85K12/221.61 mi33, Derwent Crescent, Hamsterley Colliery, Newcastle Upon Tyne, County Durham NE17 7PD2
£85K09/221.61 mi7, Derwent Crescent, Hamsterley Colliery, Newcastle Upon Tyne, County Durham NE17 7PD2
£58K02/211.64 mi24, The Crescent, Bridgehill, Consett, County Durham DH8 8LB2
£120K08/231.65 mi6, Valley Gardens, Blackhill, Consett, County Durham DH8 8RQ2
£71.5K12/221.67 mi4, Emma Street, Consett, County Durham DH8 5NP2
£90K07/211.67 mi9, Emma Street, Consett, Durham DH8 5NP2
£96K04/231.7 mi43, Derwent Mews, Blackhill, Consett, County Durham DH8 8TU2
£110K05/231.7 mi40, Derwent Mews, Blackhill, Consett, County Durham DH8 8TU2
£132K12/221.7 mi32, Derwent Mews, Blackhill, Consett, County Durham DH8 8TU2
£95K01/231.7 mi49, Bradley Cottages, Consett, County Durham DH8 6JY2
£118K07/211.71 mi5, Moor View, Consett, Durham DH8 5TG2
£59K11/201.72 mi6, Park Street, Consett, Durham DH8 5UA2
£122K09/231.72 mi11, Victoria Terrace, Hamsterley Colliery, Newcastle Upon Tyne, County Durham NE17 7SJ2

Local Rents

50 rents from £370/mo to £1.1K/mo, average is £663/mo.

RentDateDistanceAddressBeds 
£99512/240.6 miConsett, County Durham, DH84
£60012/240.67 mi-2
£95012/240.77 miSnows Green Cottage, Shotley Bridge2
£95012/241.09 miWood Street, Shotley Bridge2
£75012/241.15 mi-2
£75002/251.15 mi-2
£50005/241.63 miDerwent Valley Villas, Low Westwood, Newcastle upon Tyne, NE171
£79501/251.63 mi-3
£49512/241.63 mi-1
£51010/241.63 mi-1
£47512/241.64 mi-2
£72501/251.65 mi-3
£52512/241.69 miDurham Road, Consett, Durham, DH81
£60012/241.7 miEmma Street, Consett, Durham, DH82
£69512/241.71 mi-3
£70012/241.73 mi-2
£70003/251.73 mi-2
£70012/241.73 miDerwent Mews, Blackhill, Consett, DH82
£62512/241.82 mi-3
£85004/251.84 mi-3
£71512/241.89 mi-3
£72512/241.9 mi-3
£50012/242 miBeverley Gardens, Consett, County Durham, DH82
£49512/242.07 miCleadon Street, Consett, Durham, DH81
£1,00012/242.09 miFenwick Way, Consett4
£52503/252.09 mi-2
£1,10012/242.15 mi-4
£60012/242.15 mi-2
£77502/252.16 mi-3
£72512/242.19 mi-2
£60012/242.21 mi-2
£75012/242.21 miSteading Court, Consett3
£67510/242.22 mi-2
£1,15003/252.22 mi-4
£1,15003/252.22 mi-4
£72503/252.23 mi-3
£55012/242.25 miGladstone Gardens, Consett, Durham, DH82
£37012/242.25 miChurch Street, Consett, DH81
£47512/242.27 mi-2
£60012/242.27 mi-2
£65004/252.29 mi-2
£62512/242.3 miRosemary Close, Consett2
£52512/242.3 miSouthernwood, Consett2
£60012/242.31 mi-2
£75012/242.33 mi-3
£77003/252.33 mi-3
£49505/242.33 mi-2
£49501/252.33 mi-2
£47512/242.34 mi-2
£60012/242.34 mi-2

Property History

Listed for £250,000

May 15, 2024

Floor Plans

Description

  • Detached Garage & Drive +
  • Gas Central Heating +
  • Masses of Potential +
  • No Onward Chain +
  • Popular Picturesque Village +
  • Separate Utility Room +
  • Significantly Extended +
  • Superb Corner Private Plot +
  • Two Reception Rooms +
  • Charming Bungalow +

Jan Mitchell Properties are delighted to bring to the market charming, significantly extended semi-detached bungalow, situated on a substantial private corner plot with multiple car drive and large detached garage, offered with No Onward Chain in the picturesque hamlet of East Law, between the ever desirable Ebchester & Shotley Bridge.

Internally the property has been well kept and is immaculately presented throughout, however offers the opportunity for a buyer to make their own with masses of potential on offer, briefly comprising; Entrance hall with period feature stained glass window, well proportioned lounge with feature fireplace and bay window, second reception room with built in cabinetry and feature beams, fitted kitchen and a handy utility with rear access. There are then two spacious bedrooms both with fitted wardrobes, four piece bathroom with separate shower and bath and a further separate w/c.

Externally however is where this property really comes into its own with its generous well maintained private corner plot, consisting of lawned and paved sections bordered by trees and shrubs that provide a screen of privacy. There is also a multiple car drive leading to a detached garage with power and a boarded loft space with ladder access.

This exceptional house and gardens offered with no onward chain should prove very popular with purchasers seeking an impressive bungalow in a beautiful semi-rural setting.

Location
The property's location offers convenient access to village life in both Ebchester and Shotley Bridge, which benefit from range of amenities including local shops, schools, restaurants and cafes. Commuters to both Newcastle and Durham City will benefit from many road links, both cities can be reached in under 30 minutes. There are also excellent bus links within walking distance. Northumberland is also only a short distance away bordered by the River Derwent.

Measurements
Lounge - 4.25m x 4.22m (5.14m into bay)
Dining Room - 3.77m x 5.21m
Kitchen - 2.70m x 3.40m
Utility - 2.26m x 1.76m
Bedroom One - 3.97m x 3.66m
Bedroom Two - 2.26m x 4.56m
Bathroom - 2.33m x 3.17m
W/C- 0.82m x 1.87m

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

Council Tax Band: C (Durham County Council)
Tenure: Freehold

Agent Details

Jan Mitchell Properties, Covering North East

0191 625 1034

Next Steps?

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