2 Bed Flat, Refurb/BRRR, Middlesbrough, TS5 6SH, £60,000

The Crescent, Middlesbrough, TS5 6SH - 12 views - 10 months ago

Leasehold

Refurb/BRRR

ROI: 7%

~61 m²

+11 photos

ValuationUndervalued

Sold Prices	£55K - £134K
Sold Prices/m²	£747/m² - £2K/m²

Square Metres	~60.79 m²
Price/m²	£987/m²
Value Estimate	£61,800£61,800
BMV	3%

End Value (After Refurb)	£81,912£81,912
Uplift in Value	+37%+37%

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£15,000£15,000
Stamp Duty & Legal Fees	£3,000£3,000
Refurb Costs	£23,987£23,987
Bridging Loan Interest	£1,575£1,575
Total Cash In	£45,312£45,312

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£81,912£81,912
Mortgage (After Refinance)	£61,434£61,434
Mortgage LTV	75%75%
Cash Released	£16,434£16,434
Cash Left In	£28,878£28,878
Equity	£20,478£20,478
Rent Range	£500 - £895£500 - £895
Rent Estimate	£659
Running Costs/mo	£408£408
Cashflow/mo	£251£251
Cashflow/yr	£3,015£3,015
ROI	7%7%
Gross Yield	13%13%

Local Sold Prices

34 sold prices from £55K to £134K, average is £82K. £747/m² to £2K/m², average is £1.5K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£65K	09/22	0.12 mi	65, Roman Road, Middlesbrough TS5 5PH	£747	87	2	Flat
£64.8K	10/22	0.17 mi	10, The Potteries, Middlesbrough TS5 6DQ	£830	78	2	Flat
£120K	03/23	0.18 mi	4, Belgravia Gardens, Middlesbrough TS5 6NZ	-	-	2	Flat
£127.5K	08/22	0.19 mi	8, Belgravia Gardens, Middlesbrough TS5 6NZ	£1,992	64	2	Flat
£134K	02/23	0.19 mi	11, Belgravia Gardens, Middlesbrough TS5 6NZ	£1,648	81	2	Flat
£112K	04/23	0.19 mi	10, Belgravia Gardens, Middlesbrough TS5 6NZ	-	-	2	Flat
£76K	06/21	0.21 mi	14, Dorman Gardens, Linthorpe, Middlesbrough TS5 5DS	£1,310	58	2	Flat
£80K	07/23	0.21 mi	19, Dorman Gardens, Linthorpe, Middlesbrough TS5 5DS	-	-	2	Flat
£84K	01/23	0.21 mi	70, Dorman Gardens, Linthorpe, Middlesbrough TS5 5DS	£1,556	54	2	Flat
£90K	08/23	0.32 mi	9, Oriel Close, Middlesbrough TS5 5NJ	-	-	2	Flat
£63K	04/23	0.41 mi	25, Camsell Court, Middlesbrough TS5 5BE	-	-	2	Flat
£70K	07/23	0.41 mi	15, Camsell Court, Middlesbrough TS5 5BE	£1,296	54	2	Flat
£82K	11/21	0.43 mi	18, Bayberry Mews, Middlesbrough TS5 7RG	£1,464	56	2	Flat
£82K	08/21	0.43 mi	16, Bayberry Mews, Middlesbrough TS5 7RG	£1,579	52	2	Flat
£85K	01/23	0.43 mi	16, Bayberry Mews, Middlesbrough TS5 7RG	£1,637	52	2	Flat
£85K	02/24	0.43 mi	12, Bayberry Mews, Middlesbrough TS5 7RG	£1,667	51	2	Flat
£67.5K	10/21	0.58 mi	6, Clough Close, Middlesbrough TS5 5DW	£1,071	63	2	Flat
£59K	10/20	0.58 mi	21, Clough Close, Middlesbrough TS5 5DW	£844	70	2	Flat
£60K	03/23	0.58 mi	33, Clough Close, Middlesbrough TS5 5DW	£1,091	55	2	Flat
£70K	11/23	0.58 mi	31, Clough Close, Middlesbrough TS5 5DW	£1,346	52	2	Flat
£95K	01/21	0.59 mi	49, Stanhope Grove, Middlesbrough TS5 7SF	£1,508	63	2	Flat
£95K	01/21	0.59 mi	47, Stanhope Grove, Middlesbrough TS5 7SF	£1,610	59	2	Flat
£71K	12/20	0.75 mi	31, Gresham Road, Middlesbrough TS1 4LU	£1,183	60	2	Flat
£75K	12/22	0.76 mi	Flat 6, Glen Court, Glendale Road, Middlesbrough TS5 7FL	-	-	2	Flat
£87K	09/22	0.79 mi	49, Rockingham Court, Acklam, Middlesbrough TS5 7BN	£1,611	54	2	Flat
£84K	09/23	0.79 mi	30, Rockingham Court, Acklam, Middlesbrough TS5 7BN	-	-	2	Flat
£77.5K	10/21	0.79 mi	30, Rockingham Court, Acklam, Middlesbrough TS5 7BN	-	-	2	Flat
£95K	11/22	0.79 mi	16, Rockingham Court, Acklam, Middlesbrough TS5 7BN	£1,792	53	2	Flat
£76.5K	02/21	0.79 mi	70, Rockingham Court, Acklam, Middlesbrough TS5 7BN	£1,220	63	2	Flat
£95K	03/23	0.79 mi	3, Rockingham Court, Acklam, Middlesbrough TS5 7BN	£1,839	52	2	Flat
£82K	07/22	0.79 mi	36, Rockingham Court, Acklam, Middlesbrough TS5 7BN	£1,608	51	2	Flat
£82.5K	02/21	0.79 mi	42, Rockingham Court, Acklam, Middlesbrough TS5 7BN	-	-	2	Flat
£90K	11/23	0.79 mi	43, Rockingham Court, Acklam, Middlesbrough TS5 7BN	£1,667	54	2	Flat
£55K	09/23	0.87 mi	20, St Francis Close, Middlesbrough TS5 4GY	£809	68	2	Flat

Local Rents

26 rents from £500/mo to £895/mo, average is £698/mo.

Rent	Date	Distance	Address	Beds	Type
£700	10/24	0.13 mi	-	2	Flat
£700	10/24	0.13 mi	The Avenue, Middlesbrough, TS5	2	Flat
£650	10/24	0.17 mi	Dorman Gardens, Middlesbrough, Cleveland, TS5	2	Flat
£725	02/25	0.17 mi	-	2	Flat
£695	10/24	0.23 mi	Cambridge Square, Middlesbrough, Cleveland, TS5	2	Flat
£625	02/25	0.32 mi	-	2	Flat
£675	03/25	0.34 mi	-	2	Flat
£700	11/24	0.36 mi	-	2	Terraced House
£650	02/24	0.38 mi	-	2	Terraced House
£600	11/24	0.39 mi	-	2	Terraced House
£650	12/24	0.41 mi	-	2	Flat
£650	04/25	0.41 mi	-	2	Flat
£895	10/24	0.43 mi	-	2	Terraced House
£750	10/24	0.46 mi	-	2	Terraced House
£500	10/24	0.46 mi	Brompton Street, Middlesbrough, North Yorkshire, TS5	2	Terraced House
£650	12/24	0.46 mi	-	2	Terraced House
£725	09/23	0.47 mi	-	2	Flat
£780	03/25	0.48 mi	-	2	Terraced House
£595	10/24	0.49 mi	Caxton Street, Middlesbrough	2	Terraced House
£625	10/24	0.56 mi	Clough Close, Middlesbrough, North Yorkshire, TS5 5DW	2	Flat
£800	03/25	0.56 mi	-	2	Flat
£750	01/25	0.57 mi	-	2	Flat
£800	01/25	0.58 mi	-	2	Terraced House
£825	10/24	0.6 mi	-	2	Semi-Detached House
£650	03/25	0.6 mi	-	2	Terraced House
£750	02/24	0.62 mi	-	2	Semi-Detached House

Local Area Statistics

Population in TS5	39,38739,387
Population in Middlesbrough	189,245189,245
Town centre distance	2.16 miles away2.16 miles away
Nearest school	0.20 miles away0.20 miles away
Nearest train station	1.54 miles away1.54 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+10%+10%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+11%+11%

Property History

Listed for £60,000

June 3, 2024

Floor Plans

Description

FIRST FLOOR TWO BEDROOM FLAT +
NO ONWARD CHAIN +
GAS CENTRAL HEATING VIA COMBI BOILER +
POPULAR LINTHORPE LOCATION +

Clarke Munro are delighted to introduce this wonderful two bedroom first floor flat located in an attractive period building in the popular TS5 area. Priced to reflect modernisation needed, the property consists of two bedrooms, a spacious reception room at the front with high ceilings and bay-window, kitchen with range of wall and base units, shower room with 4 piece suite. The property is heated with gas cental heating via combi boiler. The property further benefits from communal off-street parking,a long lease and well-maintained communal area.

Agent Details

Clarke Munro, Middlesbrough

01642 056909

Next Steps?

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