2 Bed Terraced House, Refurb/BRRR, DH9 9PJ, £62,500

Ash Terrace, Tantobie, Stanley, Co. Durham, DH9 9PJ - 4 views - 8 months ago

Sold STC
Cash
Refurb/BRRR
ROI: 6%
~65 m²
+14 photos

ValuationUndervalued

Sold Prices£55K - £161K
Sold Prices/m²£516/m² - £2.8K/m²

 

 

Square Metres

~64.60 m²
Price/m²£967/m²

Value Estimate

£64,375
BMV3%

 

 

End Value (After Refurb)

£86,876

Uplift in Value

+39%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£15,625

Stamp Duty & Legal Fees

£3,075

Refurb Costs

£24,917

Bridging Loan Interest

£1,641

Total Cash In

£47,008

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£86,876

Mortgage (After Refinance)

£65,157

Mortgage LTV

75%

Cash Released

£18,282

Cash Left In

£28,726

Equity

£21,719

Rent Range

£420 - £1,795

Rent Estimate

£653

Running Costs/mo

£422

Cashflow/mo

£231

Cashflow/yr

£2,771

ROI

6%

Gross Yield

13%

Local Sold Prices

22 sold prices from £55K to £161K, average is £95K. £516/m² to £2.8K/m², average is £1.3K/m².

PriceDateDistanceAddressBeds 
£80K09/210.01 mi12, Ash Terrace, Tantobie, Stanley, County Durham DH9 9PJ2
£110K04/230.02 mi8, Liberty Terrace, Tantobie, Stanley, County Durham DH9 9TB2
£94K01/230.03 mi9, Liberty Terrace, Tantobie, Stanley, County Durham DH9 9TB2
£110K01/230.04 mi6, Oak Terrace, Tantobie, Stanley, County Durham DH9 9QY2
£95K06/230.04 mi7, Unity Terrace, Tantobie, Stanley, County Durham DH9 9TD2
£55K03/230.06 mi10, Federation Terrace, Tantobie, Stanley, County Durham DH9 9TW2
£79K10/210.1 mi6, South View, Tantobie, Stanley, Durham DH9 9TH2
£64.5K01/210.1 mi5, South View, Tantobie, Stanley, County Durham DH9 9TH2
£95K05/230.53 mi14, Parkside, Tanfield Lea, Stanley, County Durham DH9 9NW2
£61.5K01/230.53 mi13, Parkside, Tanfield Lea, Stanley, County Durham DH9 9NW2
£95K07/210.61 mi48, Front Street, Hobson, Newcastle Upon Tyne, Durham NE16 6EF2
£129.7K02/230.63 mi12, Fern Terrace, Tantobie, Stanley, County Durham DH9 9SQ2
£74K12/200.63 mi4, Cawthorne Terrace, Hobson, Newcastle Upon Tyne, County Durham NE16 6EJ2
£145K12/220.64 mi2, Cavendish Place, Hobson, Newcastle Upon Tyne, County Durham NE16 6EN2
£161K12/230.64 mi14, Cavendish Place, Hobson, Newcastle Upon Tyne, County Durham NE16 6EN2
£150K06/210.66 mi11, Woodburn, Tanfield Lea, Stanley, County Durham DH9 9UR2
£125.5K10/230.66 mi36, Front Street, Hobson, Newcastle Upon Tyne, County Durham NE16 6EE2
£115K10/220.66 mi38, Front Street, Hobson, Newcastle Upon Tyne, County Durham NE16 6EE2
£76.5K06/230.7 mi7, Leith Gardens, Tanfield Lea, Stanley, County Durham DH9 9LZ2
£83K11/210.82 mi9, Meadowfield Way, Tanfield Lea, Stanley, Durham DH9 9PG2
£95K04/210.96 mi4, Sawmill Cottages, Dipton, Stanley, County Durham DH9 9JT2
£107.5K05/210.96 mi3, Ewehurst Crescent, Dipton, Stanley, County Durham DH9 9JA2

Local Rents

50 rents from £420/mo to £1.8K/mo, average is £625/mo.

RentDateDistanceAddressBeds 
£55008/230.08 mi-3
£1,50012/240.4 miThe Tiley at High Steads, Durham, DH93
£1,10006/240.7 miThe Meadows, Burnopfield, Newcastle upon Tyne, NE163
£87107/231.1 mi-3
£62512/241.15 miBroom Hill, Stanley3
£89505/241.19 miLilac Crescent, Burnopfield, NE163
£75003/241.24 mi-3
£70003/251.24 mi-3
£75003/251.29 mi-2
£57512/241.33 miSunny Terrace, Stanley, Co. Durham, DH93
£65005/241.34 miBirch Mews, Burnopfield, Newcastle upon Tyne, Durham, NE16 6LL2
£62512/231.34 mi-2
£62510/231.36 mi-2
£75004/251.36 mi-2
£75009/241.36 mi-2
£95006/241.37 miDene View, Burnopfield, NE163
£75005/241.4 miRaglan Place, Newcastle Upon Tyne2
£69506/241.4 miGaresfield Gardens, Burnopfield2
£65011/231.41 mi-2
£67505/241.41 mi-2
£75007/241.42 miBriardene, Burnopfield2
£62505/241.46 miSyke Road, Burnopfield, Newcastle upon Tyne, Durham, NE16 6HD2
£60004/251.51 mi-3
£55012/241.51 miSylvia Terrace, Stanley2
£50012/241.53 mi-2
£52512/241.54 mi-2
£95012/241.57 mi-3
£57512/241.6 miChurch Street, Stanley, County Durham, DH92
£1,10012/241.64 mi-4
£50012/241.65 mi-2
£50008/231.65 mi-2
£75012/241.65 mi-4
£75003/251.68 mi-3
£59512/241.68 mi-2
£59512/241.69 miBelle Street, Stanley, DH92
£65003/251.7 mi-3
£50003/251.7 mi-1
£52512/241.7 mi-2
£62512/241.73 mi-3
£55012/241.74 miSpen Street, Stanley, Durham, DH93
£53502/251.74 mi-2
£57512/241.76 mi-2
£59510/241.78 mi-2
£49512/241.78 miUnity Terrace, Stanley2
£75002/251.78 mi-3
£47512/241.8 miCoronation Terrace, Stanley, Durham, DH92
£62507/241.8 mi-3
£42012/241.82 miPark Road, Stanley, County Durham, DH92
£1,79503/251.82 mi-3
£55012/241.83 miBircham Street, South Moor, Stanley, DH92

Local Area Statistics

Population in DH9

36,673

Nearest school

0.50 miles away

Nearest train station

5.46 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+3%

Sales demand

Seller's market

Capital growth (5yrs)

+8%

Property History

Listed for £62,500

August 23, 2024

Floor Plans

Description

  • Extended stone-built two-bedroom terraced house. +
  • Off-street parking available at the rear. +
  • No upper chain, offering a quick sale option. +
  • Requires some updating; perfect for renovation enthusiasts. +
  • Ground floor features an entrance hallway, lounge, rear hallway, and breakfasting kitchen. +
  • Includes a ground floor bathroom/WC. +
  • First floor comprises two bedrooms. +
  • Rear yard with gated access for parking. +
  • Equipped with gas central heating and uPVC double glazing. +
  • Freehold property, Council Tax band A, EPC rating E (50). Virtual tours available. +

An extended stone built two bedroom terraced house with off-street rear parking and is available with no upper chain. Requiring some updating the accommodation comprises of an entrance hallway, lounge, rear hallway, breakfasting kitchen, ground floor bathroom/WC. First floor landing, two bedrooms and a yard to the rear with gates providing off-street parking. Gas central heating, uPVC double glazing, EPC rating E (50), freehold, Council Tax band A. Virtual walk-through available. 

HALLWAY uPVC double glazed entrance door, stairs to the first floor, coving, glazed door to the lounge. 

LOUNGE 16' 2" x 13' 8" (4.93m x 4.17m) Stone fire surround, gas fire with central heating back boiler behind on a marble hearth. PVC panelled ceiling, uPVC double glazed window, under-stair cupboard, double radiator, TV aerial point and a glazed door leading to the rear hallway. 

REAR HALLWAY 7' 3" x 2' 8" (2.21m x 0.83m) Laminate flooring, uPVC double glazed rear exit door and doors leading to the bathroom and breakfasting kitchen. 

BREAKFASTING KITCHEN 16' 1" x 6' 8" (4.91m x 2.05m) Fitted with a range of wall and base units with laminate worktops, tiled splash-backs and panelled walls. Slot-in cooker with electric point, plumbed for a washing machine, stainless steel sink with mixer tap, two uPVC double glazed windows, double radiator, space for a small table, wall extractor fan and coving. 

BATHROOM 5' 10" x 5' 9" (1.80m x 1.76m) A white suite featuring a panelled bath with electric shower over, curtain and rail. PVC splash-backs, pedestal wash basin, tiled slash-back, WC, single radiator, uPVC double glazed window and a single radiator. 

FIRST FLOOR  

LANDING Coving and doors leading to the bedrooms. 

BEDROOM 1 (TO THE FRONT) 8' 7" x 10' 11" (2.64m x 3.33m) Storage cupboard, uPVC double glazed window and a single radiator. 

BEDROOM 2 (TO THE REAR) 7' 0" x 10' 4" (2.15m x 3.16m) Cupboard housing the hot water tank, single glazed window, loft access hatch, coving and a single radiator, 

EXTERNAL Self-contained yard to the rear with twin gates providing off-street parking, timber shed and a cold water tap. 

HEATING Gas fired central heating via back boiler and radiators. 

GLAZING uPVC double glazing installed to all windows and doors apart from bedroom two window. 

ENERGY EFFICIENCY EPC rating E (50). Please speak to a member of staff for a copy of the full Energy Performance Certificate. 

COUNCIL TAX The property is in Council Tax band A. 

TENURE We understand that the property is freehold. We would recommend that any purchaser has this confirmed by their legal advisor.  

VIEWINGS We have created a virtual tour which can be viewed on our YouTube channel, our website, property portals and our social media accounts such as Facebook, Twitter and Instagram. To arrange a viewing please contact the office.  

MAKING AN OFFER Please note that all offers will require financial verification including mortgage agreement in principle, proof of deposit funds, proof of available cash and full chain details including selling agents and solicitors down the chain. Under New Money Laundering Regulations we require proof of identification from all buyers before acceptance letters are sent and solicitors can be instructed. 

MORTGAGE ADVICE We have independent mortgage advisers within our branch, who will search the whole market to find the best suitable mortgage and help you progress through the process. Contact our office to arrange a telephone or office appointment.  

AGENTS NOTE Whilst we endeavour to make our particulars accurate and reliable, they should not be relied on as a statement or representations of fact, and do not constitute any part of an offer or contract. The owner does not make or give, nor do we or our employees have authority to make or give any representation or warranty in relation to the property. We have not checked or tested any appliances mentioned (including heating systems or electrical fittings) therefore working order cannot be confirmed. All measurements are given to the nearest 5cm.

Agent Details

David Bailes, Stanley

01207 265903

Next Steps?

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