Potential 4-Bed HMO, Middlesbrough, TS1 4LJ, £85,000

Gresham Road, Middlesbrough, North Yorkshire, TS1 4LJ - 53 views - 8 months ago

Under Offer
HMO
ROI: 25%
~93 m²
+9 photos

ValuationOvervalued

Sold Prices£25K - £97K
Sold Prices/m²£316/m² - £1.2K/m²

 

 

Square Metres

~93 m²
Price/m²£914/m²

Value Estimate

£69,086

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£21,250

Stamp Duty & Legal Fees

£3,750

Total Cash In

£25,000

 

 

Cash Out

 

Room Rate

£375

Gross Rent

£1,500

Running Costs/mo

£982

Cashflow/mo

£518

Cashflow/yr

£6,214

ROI

25%

Gross Yield

21%

Local Sold Prices

50 sold prices from £25K to £97K, average is £64.5K. £316/m² to £1.2K/m², average is £743/m².

PriceDateDistanceAddressBeds 
£75K10/200.05 mi28, Parliament Road, Middlesbrough TS1 4LE3
£72K12/220.07 mi16, Stowe Street, Middlesbrough TS1 4ND3
£35.3K07/210.09 mi18, Romney Street, Middlesbrough TS1 4NE3
£73K12/220.09 mi23, Romney Street, Middlesbrough TS1 4NE3
£90K05/230.11 mi4, Albert Terrace, Middlesbrough TS1 3PB3
£75K02/230.12 mi76, Gresham Road, Middlesbrough TS1 4LN3
£73K11/220.14 mi39, Clifton Street, Middlesbrough TS1 4BY3
£54K11/220.15 mi53, Percy Street, Middlesbrough TS1 4DD3
£47K06/210.16 mi86, Clifton Street, Middlesbrough TS1 4BX3
£40K10/200.16 mi52, Pelham Street, Middlesbrough TS1 4DJ3
£72K03/230.16 mi71, Pelham Street, Middlesbrough TS1 4DJ3
£70K06/210.18 mi96, Gresham Road, Middlesbrough TS1 4LW3
£54.5K11/200.19 mi39, Parliament Road, Middlesbrough TS1 4JP3
£95K08/230.2 mi19, Ayresome Street, Middlesbrough TS1 4NL3
£75K06/210.2 mi49, Ayresome Street, Middlesbrough TS1 4NL3
£45K09/230.21 mi69, Crescent Road, Middlesbrough TS1 4QP3
£50K12/220.23 mi116, Gresham Road, Middlesbrough TS1 4LP3
£70K08/210.23 mi51, Worcester Street, Middlesbrough TS1 4NS3
£60K07/210.23 mi75, Worcester Street, Middlesbrough TS1 4NS3
£52.5K05/210.23 mi42, Costa Street, Middlesbrough TS1 4PH3
£58K11/200.25 mi59, Warwick Street, Middlesbrough TS1 4PA3
£53K04/210.25 mi10, Harford Street, Middlesbrough TS1 4PR3
£60K10/200.25 mi34, Harford Street, Middlesbrough TS1 4PR3
£39.9K03/230.25 mi26, Harford Street, Middlesbrough TS1 4PR3
£81K07/230.26 mi17, Caxton Street, Middlesbrough TS5 6AH3
£82K01/230.26 mi8, Caxton Street, Middlesbrough TS5 6AH3
£80K02/210.26 mi77, Ayresome Street, Middlesbrough TS1 4NR3
£28K11/200.27 mi48, Aire Street, Middlesbrough TS1 4PG3
£40K04/210.27 mi58, Aire Street, Middlesbrough TS1 4PG3
£68K04/230.29 mi38, Essex Street, Middlesbrough TS1 4PS3
£63.5K07/230.29 mi4, Ross Street, Middlesbrough TS1 4EJ3
£52K12/200.3 mi3, Faraday Street, Middlesbrough TS1 4EQ3
£65K02/230.3 mi112, Crescent Road, Middlesbrough TS1 4QS3
£88K12/200.3 mi28, Ayresome Park Road, Middlesbrough TS5 6AR3
£65K03/230.31 mi1, Surrey Street, Middlesbrough TS1 4QD3
£25K04/210.31 mi30, Surrey Street, Middlesbrough TS1 4QD3
£58K02/210.31 mi47, Clive Road, Middlesbrough TS5 6BH3
£62K02/230.32 mi41, Surrey Street, Middlesbrough TS1 4QD3
£77.5K11/200.32 mi33, The Turnstile, Middlesbrough TS5 6BY3
£64K05/210.33 mi66, Harford Street, Middlesbrough TS1 4PP3
£70K11/220.34 mi33, Acton Street, Middlesbrough TS1 3NA3
£41.5K09/210.34 mi90, Outram Street, Middlesbrough TS1 4EG3
£62K04/230.35 mi90, Outram Street, Middlesbrough TS1 4EG3
£85K04/230.37 mi130a, Crescent Road, Middlesbrough TS1 4QT3
£97K09/210.37 mi78, Ayresome Park Road, Middlesbrough TS5 6AS3
£84K01/210.37 mi66, Ayresome Park Road, Middlesbrough TS5 6AS3
£58.4K01/210.37 mi78, Surrey Street, Middlesbrough TS1 4QB3
£89K03/230.38 mi11, Petch Close, Middlesbrough TS1 5LE3
£62K12/200.39 mi70, Kildare Street, Middlesbrough TS1 4QY3
£82K05/210.4 mi76, Westminster Road, Middlesbrough TS5 6NP3

Local Area Statistics

Population in TS1

16,984

Population in Middlesbrough

189,245

Town centre distance

2.28 miles away

Nearest school

0.20 miles away

Nearest train station

0.82 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

+8%

Sales demand

Seller's market

Capital growth (5yrs)

+32%

Property History

Listed for £85,000

August 15, 2024

Description

  • Central Location +
  • close to university +
  • On Street Parking +
  • large living room +
  • Possible HMO subject to planning +

Magnum Properties are proud to present this 3 bedroom terraced house in Middlesbrough.

A fantastic investment opportunity! This spacious three-bedroom terraced property, ideally located near Teesside University, offers excellent potential as a student or family let. With a competitive price and ample scope to increase value, it's perfect for buyers looking for a rewarding project.

The property benefits from double glazing, gas central heating throughout and has ample on street parking available outside.

Excellent transport connections can be found from the A19, A66 and Middlesbrough train station. This exciting opportunity should not be missed!

Summary:

-Large three-bedroom terraced property
-Available now
-Project property
-Possible HMO subject to planning
-Central location

Viewings:

Should you require any further information, or would like to arrange a viewing, please contact Magnum Properties.

Agent Details

Magnum Properties Ltd, Middlesbrough

01642 056337

Next Steps?

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