2 Bed Terraced House, Refurb/BRRR, Middlesbrough, TS5 4LA, £70,000

Kirby Avenue, Middlesbrough, TS5 4LA - 3 views - 8 months ago

Sold STC
Refurb/BRRR
ROI: 5%
~68 m²
+2 photos

ValuationFair Value

Sold Prices£40K - £350K
Sold Prices/m²£438/m² - £4.4K/m²

 

 

Square Metres

~68.11 m²
Price/m²£1K/m²

Value Estimate

£71,400

 

 

End Value (After Refurb)

£89,523

Uplift in Value

+28%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£17,500

Stamp Duty & Legal Fees

£3,300

Refurb Costs

£26,876

Bridging Loan Interest

£1,838

Total Cash In

£51,264

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£89,523

Mortgage (After Refinance)

£67,142

Mortgage LTV

75%

Cash Released

£14,642

Cash Left In

£36,622

Equity

£22,381

Rent Range

£475 - £895

Rent Estimate

£619

Running Costs/mo

£424

Cashflow/mo

£195

Cashflow/yr

£2,345

ROI

5%

Gross Yield

11%

Local Sold Prices

50 sold prices from £40K to £350K, average is £83.8K. £438/m² to £4.4K/m², average is £1.2K/m².

PriceDateDistanceAddressBeds 
£50K03/210.11 mi20, St Francis Close, Middlesbrough TS5 4GY2
£49K04/240.11 mi23, St Francis Close, Middlesbrough TS5 4GY2
£110K09/230.11 mi27, St Francis Close, Middlesbrough TS5 4GY2
£110K03/230.15 mi24, Sherbourne Walk, Middlesbrough TS5 4GF2
£82K03/210.17 mi9, Merton Road, Middlesbrough TS5 4GL2
£75K10/210.27 mi20, Fakenham Avenue, Middlesbrough TS5 4QF2
£100K12/200.3 mi2, Marion Avenue, Middlesbrough TS5 5JG2
£145K01/210.32 mi4, Broadgate Gardens, Middlesbrough TS5 5LR2
£148K12/200.34 mi5, Wroxton Close, Middlesbrough TS5 7AF2
£90K04/210.34 mi149, Burlam Road, Middlesbrough TS5 5AX2
£152.5K04/240.44 mi77, Green Lane, Middlesbrough TS5 7SN2
£350K06/230.46 mi53, Cambridge Road, Linthorpe, Middlesbrough TS5 5NL2
£120K12/200.54 mi28, Birchgate Road, Middlesbrough TS5 5NR2
£158.5K12/200.55 mi20, Northgate Road, Middlesbrough TS5 5NW2
£155K06/210.55 mi16, Northgate Road, Middlesbrough TS5 5NW2
£92K05/230.57 mi19, Askwith Road, Middlesbrough TS5 5AJ2
£100K09/230.57 mi5, Askwith Road, Middlesbrough TS5 5AJ2
£88K12/230.58 mi7, Rockliffe Road, Middlesbrough TS5 5DL2
£82.5K06/230.58 mi21, Belle Vue Road, Middlesbrough TS5 5AQ2
£174.5K07/230.59 mi9, Edinburgh Avenue, Middlesbrough TS5 7SA2
£59K08/230.65 mi75, Roman Road, Middlesbrough TS5 5PH2
£116K07/230.65 mi81, Roman Road, Middlesbrough TS5 5PH2
£120K05/230.72 mi10, Dorset Close, Middlesbrough TS5 6DW2
£55K03/210.73 mi28, Camsell Court, Middlesbrough TS5 5BE2
£104.7K04/210.81 mi9, Addison Road, Middlesbrough TS5 6BB2
£150K07/230.81 mi45, Addison Road, Middlesbrough TS5 6BB2
£65K08/210.84 mi169, Ayresome Street, Middlesbrough TS1 4PY2
£66K10/200.86 mi9, Abbey Gate, Middlesbrough TS5 4BW2
£56K10/200.87 mi20, Berner Street, Middlesbrough TS5 6AU2
£70K12/200.87 mi33, Berner Street, Middlesbrough TS5 6AU2
£87K07/210.87 mi27, Berner Street, Middlesbrough TS5 6AU2
£190K04/210.89 mi4, Whingroves, Thornaby, Stockton-on-tees TS17 9AH2
£55K04/220.89 mi123, Kildare Street, Middlesbrough TS1 4RE2
£50K03/230.89 mi21, Benson Street, Middlesbrough TS5 6JQ2
£72.5K12/230.89 mi35, Benson Street, Middlesbrough TS5 6JQ2
£73K11/200.89 mi14, Benson Street, Middlesbrough TS5 6JQ2
£81K07/230.89 mi26, Benson Street, Middlesbrough TS5 6JQ2
£70K05/240.89 mi7, Benson Street, Middlesbrough TS5 6JQ2
£67K03/240.89 mi24, Benson Street, Middlesbrough TS5 6JQ2
£40K05/240.89 mi33, Benson Street, Middlesbrough TS5 6JQ2
£85K12/200.91 mi22, The Midfield, Middlesbrough TS5 6BU2
£95K06/230.91 mi1, The Midfield, Middlesbrough TS5 6BU2
£65K03/210.91 mi11, Oliver Street, Middlesbrough TS5 6JH2
£82K05/230.92 mi9, Haymore Street, Middlesbrough TS5 6JD2
£92K12/200.92 mi36, Trimdon Avenue, Middlesbrough TS5 8LS2
£70K01/240.93 mi72, Brompton Street, Middlesbrough TS5 6BJ2
£98K10/230.93 mi34, The Turnstile, Middlesbrough TS5 6BY2
£72K07/210.93 mi67, Bush Street, Middlesbrough TS5 6BW2
£72K10/230.93 mi79, Bush Street, Middlesbrough TS5 6BW2
£67K02/230.93 mi62, Bush Street, Middlesbrough TS5 6BW2

Local Rents

39 rents from £475/mo to £895/mo, average is £650/mo.

RentDateDistanceAddressBeds 
£75002/240.14 mi-2
£75001/250.49 mi-2
£65010/240.59 miDorman Gardens, Middlesbrough, Cleveland, TS52
£72509/230.59 mi-2
£69510/240.66 miCambridge Square, Middlesbrough, Cleveland, TS52
£80003/250.79 mi-2
£62510/240.79 miClough Close, Middlesbrough, North Yorkshire, TS5 5DW2
£70010/240.85 mi-2
£70010/240.85 miThe Avenue, Middlesbrough, TS52
£62502/250.88 mi-2
£65010/240.88 mi-2
£65012/240.89 mi-2
£65004/250.89 mi-2
£67503/250.91 mi-2
£70011/240.91 mi-2
£89510/240.92 mi-2
£72502/250.93 mi-2
£60011/240.93 mi-2
£78003/250.93 mi-2
£65002/240.94 mi-2
£50010/240.95 miSurrey Street, Middlesbrough, TS1 4QA2
£62510/240.96 miEssex Street, Middlesbrough2
£50010/240.96 miBrompton Street, Middlesbrough, North Yorkshire, TS52
£75010/240.99 mi-2
£65003/251 mi-2
£75003/251 mi-2
£80001/251.02 mi-2
£75006/241.03 mi-2
£65012/241.04 mi-2
£70001/251.05 mi-2
£59510/241.06 miCaxton Street, Middlesbrough2
£50010/241.06 miLongford Street, Middlesbrough, TS1 4RR2
£52510/241.13 miTrimdon Avenue, Middlesbrough, North Yorkshire, TS52
£70003/251.13 mi-2
£60010/241.13 mi-2
£60010/241.16 mi-2
£57501/251.17 mi-2
£47510/241.18 miUnion Street, Middlesbrough, North Yorkshire, TS12
£70010/241.2 miWellspring Close, Middlesbrough2

Local Area Statistics

Population in TS5

39,387

Population in Middlesbrough

189,245

Town centre distance

2.87 miles away

Nearest school

0.20 miles away

Nearest train station

1.54 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+10%

Sales demand

Balanced market

Capital growth (5yrs)

+11%

Property History

Listed for £70,000

August 16, 2024

Description

  • Two Bedrooms +
  • End Terrace House +
  • No Onward Chain +
  • Energy Rating D +
  • Council Tax Band A £1579.30 +

A two bedroom end terrace house in need of some modernisation but offering spacious living accommodation. Comprising; entrance porch, lounge, kitchen, two first floor bedrooms and shower room WC. There is a low maintenance paved front garden providing off-street parking for two cars and an enclosed paved garden to the rear with a outhouse. Energy Rating D * Council Tax Band: A (£1,579.30). NO FORWARD CHAIN!!

Entrance Porch - UPVC entrance door with feature oval shaped leaded light, as side aspect UPVC double glazed window and a wooden glazed door leading to:

Hallway - Staircase to first floor

Lounge - 6.26x 3.17 (20'6"x 10'4") - Front aspect UPVC double glazed bay window and rear aspect double window and a radiator.

Kitchen - 3.81 x 2.63 (12'5" x 8'7") - Rear aspect UPVC double glazed window and a side aspect UPVC double glazed door. A range of base units with rolled worksurfaces and tiled splashbacks incorporating 1½ bowl stainless steel sink & mixer tap, integrated oven & gas hob, space for washing machine and fridge/freezer.

First Floor Landing -

Bedroom One - 3.37m x 3.11m (11'0" x 10'2") - Front aspect UPVC double glazed window and a radiator.

Bedroom Two - 2.91m x 2.38m (9'6" x 7'9") - Rear aspect UPVC double glazed window and a radiator.

Shower Room/Wc - Rear aspect UPVC double glazed window, modern white vanity unit housing wash basin & low level, walk-in double cubicle with electric shower, fully tiled walls & flooring and a Worcester combi boiler.

Externally - There is a walled garden to the front of the property which is fully paved with space for two cars. To the rear is a paved garden with an outhouse.

Agent Details

Drummonds Estate Agents, BILLINGHAM

01642 056329

Next Steps?

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