3 Bed Terraced House, Potential PLO/LOA, Bishop Auckland, DL14 8TJ, £55,000

25 Johnson Street, Bishop Auckland, Durham, DL14 8TJ - 3 views - 9 months ago

Sold STC
Negative Equity
ROI: 6%
80 m²
+5 photos

ValuationUndervalued

Sold Prices£31.5K - £275K
Sold Prices/m²£389/m² - £3.6K/m²

 

 

Square Metres

80.38 m²
Price/m²£684/m²

Value Estimate

£66,550
BMV21%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£13,750

Stamp Duty & Legal Fees

£2,850

Total Cash In

£16,600

 

 

Cash Out

 

Rent Range

£425 - £995

Rent Estimate

£350

Running Costs/mo

£262

Cashflow/mo

£88

Cashflow/yr

£1,058

ROI

6%

Gross Yield

8%

Local Sold Prices

49 sold prices from £31.5K to £275K, average is £87.5K. £389/m² to £3.6K/m², average is £895/m².

PriceDateDistanceAddressBeds 
£31.5K02/210.24 mi16, Heslop Street, Close House, Bishop Auckland, County Durham DL14 8RU3
£88K03/230.29 mi5, Close House, Bishop Auckland, County Durham DL14 8RR3
£87K06/210.55 mi44, Rosemount Road, Bishop Auckland, Durham DL14 6SY3
£140K03/210.62 mi37, Highland Gardens, Shildon, Durham DL4 1ET3
£220K05/210.66 mi2, Fulton Court, Shildon, County Durham DL4 1LN3
£275K06/230.67 mi6, Dean Close, Shildon, County Durham DL4 1QP3
£86.5K12/220.67 mi7, Elm Road, Shildon, County Durham DL4 1BH3
£104K12/200.67 mi11, Stephenson Court, Shildon, County Durham DL4 1LB3
£75K04/210.68 mi14, Elm Road, Shildon, County Durham DL4 1BH3
£45K12/200.68 mi67, William Street, Auckland Park, Bishop Auckland, Durham DL14 8RJ3
£55.3K09/210.71 mi20, Elm Drive, Shildon, County Durham DL4 1BN3
£260K11/200.72 mi31, Association Street, Shildon, County Durham DL4 1EF3
£112K06/210.73 mi11, Thornhill Close, Shildon, Durham DL4 1FL3
£150K05/210.74 mi25, Kirkham Way, Auckland Park, Bishop Auckland, Durham DL14 8SQ3
£117K01/230.74 mi31, Dean Street, Shildon, County Durham DL4 1HA3
£156K08/220.74 mi118, Auckland Terrace, Shildon, County Durham DL4 1AZ3
£45K03/210.75 mi26, Alexandra Street, Shildon, Durham DL4 2EY3
£50K02/210.75 mi32, Alexandra Street, Shildon, Durham DL4 2EY3
£55K02/210.78 mi5, Wesley Crescent, Shildon, County Durham DL4 1NQ3
£64K02/230.79 mi7, Primitive Street, Shildon, County Durham DL4 1EQ3
£98K10/210.8 mi21, Raby Gardens, Shildon, Durham DL4 1NF3
£87.5K10/210.8 mi20, Raby Gardens, Shildon, County Durham DL4 1NF3
£84K03/210.81 mi13, Douglas Crescent, Auckland Park, Bishop Auckland, County Durham DL14 8RG3
£165K04/230.81 mi21, Westcott Drive, Auckland Park, Bishop Auckland, County Durham DL14 8SG3
£70K10/220.82 mi11, Orchard Way, Shildon, County Durham DL4 2EW3
£42.5K05/230.82 mi12, Hillbeck Street, Bishop Auckland, County Durham DL14 6SF3
£85K10/210.82 mi6, Orchard Way, Shildon, County Durham DL4 2EW3
£84.5K03/230.82 mi9, Wesley Crescent, Shildon, County Durham DL4 1NQ3
£173K04/230.83 mi5, Talbot Court, Auckland Park, Bishop Auckland, County Durham DL14 8YP3
£68K02/210.84 mi32, Garbutt Street, Shildon, Durham DL4 1AR3
£80K01/230.87 mi40, Main Street, Shildon, County Durham DL4 1AH3
£225K04/210.9 mi10, Church Drive, Bishop Auckland, Durham DL14 6SE3
£192.5K11/200.9 mi77a, St Andrews Road, Bishop Auckland, County Durham DL14 6RY3
£226K01/230.9 mi85, St Andrews Road, Bishop Auckland, County Durham DL14 6RY3
£90K11/210.9 mi3, Harker Street, Shildon, County Durham DL4 1AD3
£76K06/230.91 mi2, Princes Street, Shildon, County Durham DL4 1AX3
£80K02/230.93 mi32, West Road, Shildon, County Durham DL4 1JX3
£147.5K04/230.94 mi29, Van Mildert Close, Bishop Auckland, County Durham DL14 7GF3
£62K06/230.96 mi18, Holly Hill, Shildon, County Durham DL4 2DA3
£62K06/230.96 mi15, Holly Hill, Shildon, County Durham DL4 2DA3
£117K09/220.96 mi9, Clarendon Court, Shildon, County Durham DL4 1RB3
£90K10/220.98 mi46, Jubilee Road, Shildon, County Durham DL4 2EG3
£47K01/210.99 mi51, Coronation Avenue, Shildon, County Durham DL4 2AA3
£100.5K08/210.99 mi12, Vaughan Street, Shildon, County Durham DL4 1LD3
£63K01/210.99 mi7, Vaughan Street, Shildon, County Durham DL4 1LD3
£73K06/210.99 mi34, Freville Street, Shildon, Durham DL4 1JT3
£136.5K12/210.99 mi30, St Catherines Way, Bishop Auckland, County Durham DL14 6DE3
£128.9K05/210.99 mi44, St Catherines Way, Bishop Auckland, County Durham DL14 6DE3
£88.5K02/221 mi1, Granville Avenue, Shildon, Durham DL4 1JN3

Local Rents

33 rents from £425/mo to £995/mo, average is £600/mo.

RentDateDistanceAddressBeds 
£85003/250.07 mi-3
£47512/240.16 miLime Terrace, Bishop Auckland, DL143
£50004/240.16 miLime Terrace, Eldon Lane, Bishop Auckland, County Durham, DL143
£50001/240.18 mi-3
£52504/240.22 miHeslop Street, Close House, Bishop Auckland, County Durham, DL143
£49508/230.24 mi-3
£45004/240.26 miStanley Street, Close House, Bishop Auckland, DL143
£57512/240.32 miDavid Terrace Coronation, Bishop Auckland3
£50005/240.73 mi-3
£89504/240.73 miMarsh Way, Bishops Auckland, D143
£89504/240.73 miMarsh Way, Bishops Auckland, D143
£86004/240.73 miMarsh Way, Bishops Auckland, D143
£47512/230.74 mi-3
£86004/240.75 miFordham Court, Bishops Auckland, D143
£87503/240.75 miFordham Court, Bishops Auckland, D143
£91004/240.75 miFordham Court, Bishops Auckland, D143
£72504/250.75 mi-3
£55003/240.76 miAlbert Street, Shildon, County Durham, DL43
£42505/240.77 miAlbion Avenue, Shildon, Bishop Auckland, DL4 3
£45004/240.77 miAlbert Street/Shildon/DL43
£52511/230.84 mi-3
£67504/240.92 miBradford Drive, Bishop Auckland3
£52503/240.95 miHenry Street, Shildon, County Durham, DL43
£60001/250.99 mi-3
£60002/250.99 mi-3
£60003/250.99 mi-3
£47511/231 mi-3
£47501/241 mi-3
£65005/241.03 mi-3
£65003/251.04 mi-3
£60004/251.08 mi-3
£80004/241.16 miHillside Road, Coundon, Bishop Auckland, DL143
£99504/241.17 miHutchinson Close, Coundon, Bishop Auckland3

Local Area Statistics

Population in DL14

37,237

Population in Bishop Auckland

51,200

Town centre distance

1.54 miles away

Nearest school

0.30 miles away

Nearest train station

1.32 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+7%

Sales demand

Seller's market

Capital growth (5yrs)

-4%

Property History

Listed for £55,000

-89%

July 23, 2024

Sold for £104,000

2008

Description

  • Excellent Investment Opportunity +
  • Three Bedroom Terraced Home +
  • POTENTIAL TO INCREASE RENT TO £475 - POTENTIAL 10% GROSS YEILD +
  • SOLD WITH SITTING TENANT - CASHFLOW FROM DAY ONE! +
  • £350 PCM Rental Income - 7% Gross Yield +
  • Lettings/Management Services Available +

Attention investors and savvy buyers looking for a knockout deal! Feast your eyes on this gem - a three-bedroom mid-terraced house that’s not just your ordinary home, but a golden investment opportunity waiting to be snapped up!

Let’s cut to the chase - this property comes with a big cherry on top - a sitting tenant! That’s right folks, cashflow from day one, no need to stress about finding a renter. With £350 per month in rental income, you're looking at a juicy 7% gross yield. But wait, it gets even better - there’s potential to crank up the rent to £475, giving you a potential 10% gross yield! Cha-ching!

This three-bedroom terraced beauty has all the right ingredients for a smart investment move. With a solid base of rental income and the potential for even more, you’re looking at a solid addition to your portfolio or a perfect starter investment for those dipping their toes into the property game.

And don’t worry about the hassles of managing the property - lettings and management services are available to make your life easier. Sit back, relax, and watch the pounds roll in while someone else takes care of the day-to-day.

Location? Check. Investment potential? Check. Easy peasy rental income? Check. This property ticks all the boxes for those looking to make their money work harder for them. So, whether you're a seasoned property investor looking to expand your empire or a first-timer wanting to dip a toe in the landlord waters, this house screams opportunity!

Just imagine the satisfaction of knowing you have a property that practically pays for itself. So, what are you waiting for? With a sitting tenant in place, a healthy rental income, and services available to make your life easier, this property won’t hang around for long.

Don’t let this opportunity pass you by. Snatch up this investment dream and watch your bank account thank you later. Call now to arrange a viewing and secure your future cashflow from day one!
EPC Rating: D

Ground Floor -

Hallway - Entrance hallway, Upvc Door, carpet flooring, access to stairs.

Lounge - 3.74m x 3.61m (12'3" x 11'10") - Upvc window to front, carpet flooring, radiator.

Kitchen - 4.19m x 4.61m (13'8" x 15'1") - Large Kitchen/Diner, Upvc window to rear, vinyl flooring, fitted wall and base units, sink/drainer, under stairs storage cupboard.

Rear Lobby -

First Floor -

Bathroom/Wc - 2.20m x 1.95m (7'2" x 6'4") - Window to side, bath with shower over, basin, WC, vinyl flooring, radiator.

Bedroom One - 3.74m x 3.59m (12'3" x 11'9") - Window to front, carpet, radiator.

Bedroom Two - 3.22m x 2.85m (10'6" x 9'4") - Window to rear, carpet, radiator.

Bedroom Three - 4.19m x 1.67m (13'8" x 5'5") - Window to rear, carpet, radiator.

Agent Details

Venture Properties, Crook

01380 713783

Next Steps?

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