2 Bed Flat, Single Let, Durham, DH1 1EG, £100,000

Pickering Place, Carville, Durham, DH1 1EG - 1 views - 8 months ago

Leasehold
BTL
ROI: 6%
~68 m²
+6 photos

ValuationUndervalued

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

 

 

Square Metres

~68.11 m²
Price/m²£1.5K/m²

Value Estimate

£109,982
BMV10%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£25,000

Stamp Duty & Legal Fees

£4,200

Total Cash In

£29,200

 

 

Cash Out

 

Rent Range

£525 - £1,900

Rent Estimate

£600

Running Costs/mo

£453

Cashflow/mo

£148

Cashflow/yr

£1,770

ROI

6%

Gross Yield

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.

PriceDateDistanceAddressBeds 
£95K05/210.26 mi14, Bishops Close, Durham DH1 2BU2
£92K11/200.74 mi21, Shepherds Court, Gilesgate, Durham, County Durham DH1 1JQ2
£89K08/210.87 mi74, Prebends Field, Durham, County Durham DH1 1HJ2
£140K06/230.87 mi7, Herons Court, Durham, County Durham DH1 2HD2
£126K08/220.87 mi12, Herons Court, Durham, County Durham DH1 2HD2
£155K03/231.31 mi23, St Giles Close, Gilesgate, Durham, County Durham DH1 1XH2
£160K08/211.31 mi33, St Giles Close, Gilesgate, Durham DH1 1XH2
£146K05/211.31 mi22, St Giles Close, Gilesgate, Durham DH1 1XH2
£55K08/221.41 mi13, Mitford Drive, Sherburn Village, Durham, County Durham DH6 1QS2
£42.5K02/231.41 mi35, Mitford Drive, Sherburn Village, Durham, County Durham DH6 1QS2
£72.5K06/231.41 mi31, Mitford Drive, Sherburn Village, Durham, County Durham DH6 1QS2
£87.5K04/231.52 mi42, Blanchland Avenue, Durham, County Durham DH1 5XP2
£87K08/221.6 mi76, Lindisfarne Road, Durham, County Durham DH1 5YQ2
£75K04/211.62 mi23, Halton Road, Durham DH1 5YJ2
£70K12/201.62 mi35, Halton Road, Durham, County Durham DH1 5YJ2
£80K06/211.67 mi10, Hamsterley Crescent, Durham DH1 5SS2
£80K06/211.67 mi10, Hamsterley Crescent, Durham DH1 5SS2
£69K12/221.67 mi11, Glens Flats, High Pittington, Durham, County Durham DH6 1AR2
£86K08/221.73 mi111, Carr House Drive, Durham, County Durham DH1 5XW2
£90K11/211.73 mi10, Lambton View, Rainton Gate, Houghton Le Spring, Durham DH4 6QL2
£90K11/211.73 mi10, Lambton View, Rainton Gate, Houghton Le Spring, Durham DH4 6QL2
£88K07/231.73 mi19, Lambton View, Rainton Gate, Houghton Le Spring, County Durham DH4 6QL2
£48K03/211.73 mi107, Carr House Drive, Durham, County Durham DH1 5XW2
£98.5K03/221.73 mi18, Lambton View, Rainton Gate, Houghton Le Spring, County Durham DH4 6QL2
£80K12/211.73 mi12, Lambton View, Rainton Gate, Houghton Le Spring, County Durham DH4 6QL2
£68K10/201.76 mi71, Rochester Road, Durham DH1 5PW2
£82.6K01/211.76 mi21, Auckland Road, Durham DH1 5PL2
£235K04/211.79 mi188, York Crescent, Durham, County Durham DH1 5QS2
£185K03/211.81 mi13, Freemans Quay, Durham DH1 1SW2
£112.5K02/231.83 mi21, Claypath Court, Durham, County Durham DH1 1QE2
£93K06/231.83 mi41, Claypath Court, Durham, County Durham DH1 1QE2
£103K10/221.83 mi40, Claypath Court, Durham, County Durham DH1 1QE2
£260K01/231.89 mi1, Freemans Quay, Durham, County Durham DH1 1SW2
£88K10/201.9 mi82, Rothbury Road, Durham DH1 5QB2
£260K04/231.92 miFlat 16, St Andrews Court, New Elvet, Durham, County Durham DH1 3AH2
£188K08/231.92 miFlat 26, St Andrews Court, New Elvet, Durham, County Durham DH1 3AH2
£86.5K02/211.92 mi66, Middleham Road, Durham DH1 5QH2

Local Rents

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

RentDateDistanceAddressBeds 
£75012/240.01 miPickering Place, Durham, DH12
£82009/240.2 mi-2
£75009/230.2 mi-2
£65012/240.2 miBelmont Court - DH12
£1,55006/230.22 mi-2
£1,90012/240.22 mi-2
£1,90012/240.22 mi-2
£1,90012/240.22 mi-2
£1,70003/250.22 mi-2
£80009/240.23 mi-2
£95008/240.24 mi-2
£55012/240.25 miBishops Close, Belmont2
£88008/230.27 mi-2
£89003/250.27 mi-2
£89011/240.3 mi-2
£70004/240.37 mi-2
£85008/230.38 mi-2
£90006/240.38 mi-2
£90010/240.38 mi-2
£1,20012/240.38 miCheveley Court , Durham 2
£52503/230.4 mi-2

Local Area Statistics

Population in DH1

49,938

Population in Durham

124,445

Town centre distance

1.92 miles away

Nearest school

0.20 miles away

Nearest train station

2.14 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+5%

Sales demand

Balanced market

Capital growth (5yrs)

+10%

Property History

Listed for £100,000

August 12, 2024

Description

  • 2 Bedroom 2 Bathroom Luxury Apartment +
  • Excellent Investment Opportunity +
  • DH1 +
  • 78 SQ Metres +
  • Offroad Parking +
  • Excellent Transport Links +
  • Close To Durham University +

EXCELLENT INVESTMENT OPPORTUNITY. Lester & Bingley are pleased to bring to the market this two bedroom, two bathroom, luxury apartment situated on the outskirts of Durham.

The property is ideal for either those looking for their own property within the city, or property investors, given the high demand for student and professional accommodation within Durham.

On entering the property there is a light, spacious, open plan living/dining area with a large galley kitchen to the left. The apartment has two good sized double bedrooms, well fitted bathrooms, and large windows, which flood the apartment with natural light.

This property also benefits from off street parking and exceptional transport links.

Situated on the outskirts of Durham, this property is within a short distance to the city centre and the prestigious Durham university. Durham is known for its culture, heritage, and vibrant atmosphere, offering all the necessary amenities, such as shops, restaurants, bars, and the university, which attracts a large amount of local and international students.

Agent Details

Lester & Bingley, Mansfield

0115 647 0287

Next Steps?

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