2 Bed Semi-Detached House, Refurb/BRRR, Middlesbrough, TS3 8ED, £75,000

Merlin Road, Boyds Estate, Middlesbrough, TS3 8ED - 1 views - 7 months ago

Sold STC
Refurb/BRRR
ROI: 6%
~68 m²
+16 photos

ValuationOvervalued

Sold Prices£24K - £118K
Sold Prices/m²£338/m² - £2K/m²

 

 

Square Metres

~68.11 m²
Price/m²£1.1K/m²

Value Estimate

£49,435

 

 

End Value (After Refurb)

£66,500

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£18,750

Stamp Duty & Legal Fees

£4,950

Refurb Costs

£26,876

Bridging Loan Interest

£1,969

Total Cash In

£54,295

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£66,500

Mortgage (After Refinance)

£49,875

Mortgage LTV

75%

Cash Left In

£54,295

Equity

£16,625

Rent Range

£475 - £850

Rent Estimate

£649

Running Costs/mo

£358

Cashflow/mo

£291

Cashflow/yr

£3,497

ROI

6%

Gross Yield

10%

Local Sold Prices

45 sold prices from £24K to £118K, average is £52K. £338/m² to £2K/m², average is £748/m².

PriceDateDistanceAddressBeds 
£71K11/200.02 mi43, Merlin Road, Middlesbrough TS3 8EB2
£42K03/210.4 mi27, Kindersley Street, Middlesbrough TS3 6PW2
£52K01/230.42 mi106, Beaumont Road, Middlesbrough TS3 6NP2
£87K07/230.43 mi72, Berwick Hills Avenue, Middlesbrough TS3 9EG2
£48K03/230.44 mi2, Norcliffe Street, Middlesbrough TS3 6PS2
£77K09/210.45 mi7, Hanson Grove, Middlesbrough TS3 9JY2
£88K03/210.47 mi33, College Road, Middlesbrough TS3 9EN2
£83K02/210.47 mi25, College Road, Middlesbrough TS3 9EN2
£75K01/230.47 mi26, Delarden Road, Middlesbrough TS3 8JR2
£36K07/210.49 mi5, Deacon Street, Middlesbrough TS3 6PB2
£45K03/230.49 mi5, Herbert Street, Middlesbrough TS3 6JR2
£25K03/210.51 mi77, Millbrook Avenue, Middlesbrough TS3 9DZ2
£50K12/220.51 mi2, Mccreton Street, Middlesbrough TS3 6QA2
£40K03/210.52 mi16, Maria Street, Middlesbrough TS3 6JQ2
£43K06/210.54 mi21, Thornton Street, Middlesbrough TS3 6PG2
£30K11/200.55 mi11, Coronation Street, Middlesbrough TS3 6QH2
£40.5K03/230.55 mi10, Stainton Street, Middlesbrough TS3 6QF2
£70K06/210.55 mi25, Thomas Street, Middlesbrough TS3 6JE2
£30K06/210.56 mi35, Dorothy Street, Middlesbrough TS3 6JD2
£45K03/230.58 mi25, Coltman Street, Middlesbrough TS3 6JA2
£66K02/210.6 mi23, Hoskins Way, Middlesbrough TS3 8NJ2
£118K08/210.65 mi5, Millfield Road, Middlesbrough TS3 6ES2
£100K05/230.65 mi11, Millfield Road, Middlesbrough TS3 6ES2
£88K06/230.66 mi23, Livingstone Road, Middlesbrough TS3 6ET2
£49K08/230.66 mi11, Livingstone Road, Middlesbrough TS3 6ET2
£70K11/200.72 mi12, Grantley Avenue, Middlesbrough TS3 9HN2
£82.5K07/210.75 mi9, Westerdale Road, Middlesbrough TS3 7RQ2
£33.5K10/210.83 mi91, Hampden Street, South Bank, Middlesbrough, Redcar And Cleveland TS6 6LQ2
£88K05/210.84 mi88, Middlebeck Close, Middlesbrough TS3 8RG2
£45K03/230.87 mi15, Benedict Street, Middlesbrough TS3 6DT2
£73K08/210.88 mi51, Briggs Avenue, South Bank, Middlesbrough, Redcar And Cleveland TS6 6XL2
£32K03/210.88 mi35, Hampden Street, South Bank, Middlesbrough, Redcar And Cleveland TS6 6LH2
£105K12/220.88 mi2, Gilling Walk, Middlesbrough TS3 7PG2
£81K12/220.91 mi19, Cannock Road, Middlesbrough TS3 7NU2
£87K03/230.92 mi14, Achilles Close, South Bank, Middlesbrough, Redcar And Cleveland TS6 6XP2
£78.5K04/230.95 mi146, Ingram Road, Middlesbrough TS3 7BU2
£51K11/220.95 mi12, South Terrace, Middlesbrough, Redcar And Cleveland TS6 6HP2
£70K06/210.96 mi2, Chevin Walk, Middlesbrough TS3 7QD2
£44K11/200.96 mi7, Lytton Street, Middlesbrough TS4 2BZ2
£47K11/220.97 mi40, South Terrace, Middlesbrough, Redcar And Cleveland TS6 6HP2
£48.5K04/210.97 mi35, Saltwells Road, Middlesbrough TS4 2EB2
£75K10/210.97 mi129, Ingram Road, Middlesbrough TS3 7BX2
£24K04/240.98 mi15, Hampden Street, South Bank, Middlesbrough, Redcar And Cleveland TS6 6LA2
£33.3K03/210.98 mi3, Edward Street, South Bank, Middlesbrough, Redcar And Cleveland TS6 6JZ2
£103K11/220.99 mi42, Crossfell Road, Middlesbrough TS3 7PX2

Local Rents

17 rents from £475/mo to £850/mo, average is £650/mo.

RentDateDistanceAddressBeds 
£65010/240.47 miDelarden Road, Pallister Park2
£69510/240.47 mi-2
£79503/250.47 mi-2
£69510/240.47 miHerbert Street, Middlesbrough, TS32
£79503/250.49 mi-2
£79503/250.49 mi-2
£57510/240.51 miPeaton Street, MIDDLESBROUGH2
£69512/230.51 mi-2
£47510/240.51 mi-2
£59504/250.53 mi-2
£55010/240.53 miCadogan Street, North Ormesby, Middlesbrough, North Yorkshire, TS32
£65010/240.54 miEsk Street, Middlesbrough, TS32
£50010/240.55 mi-2
£79501/250.58 mi-2
£49910/240.58 mi-2
£57510/240.58 miColtman Street, MIDDLESBROUGH2
£85011/240.61 mi-2

Local Area Statistics

Population in TS3

28,890

Population in Middlesbrough

189,245

Town centre distance

1.35 miles away

Nearest school

0.10 miles away

Nearest train station

1.21 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+34%

Sales demand

Seller's market

Capital growth (5yrs)

+23%

Property History

Listed for £75,000

September 25, 2024

Floor Plans

Description

  • IDEAL FOR FIRST TIME BUYERS +
  • TWO SPACIOUS RECEPTION ROOMS +
  • TWO DOUBLE BEDROOMS +
  • NO FORWARD CHAIN +
  • REAR GARDEN, OFF STREET PARKING & GARAGE +
  • 'D' RATED EPC +

* No Forward Chain * Two Double Bedrooms * Two Good Sized Reception Rooms * Ground Floor WC * Spacious Accommodation * In Need Of Modernisation * Ideal For FTB * Ample Off Street Parking * Garage * Enclosed Rear Garden * Close To Local Amenities * EPC Rating 'D' *

NS Estates are pleased to present this charming 2 bedroom semi-detached house on Merlin Road in the sought-after area on the Boyds Estate in Middlesbrough. Conveniently offered with no onward chain, this property boasts a well-thought-out layout that provides spacious and comfortable living spaces, perfect for first-time buyers or families.

Upon entering the property, you are greeted by a bright and airy living room with a beautiful bay window that floods the room with natural light. The lounge seamlessly flows into the dining room through sliding doors, creating a perfect space for entertaining. The ground floor also features a kitchen and a separate toilet.

Venturing upstairs, you will find two generous double bedrooms and a 3-piece bathroom suite. Outside, there is an enclosed rear garden and ample off-street parking on the driveway and garage.,

The property offers easy access to a variety of local amenities, shops, and eateries. Just a short 10-minute drive away from Middlesbrough town centre, Albert Park, The James Cook University Hospital, and Middlesbrough Train Station, offering plenty of opportunities for entertainment and convenience.

This property presents an exciting opportunity for a new owner to put their stamp on it and create a wonderful home. We highly recommend scheduling a viewing to truly appreciate all that this property has to offer.
Halllway 1.26m (4'2) TO WIDEST POINTS x 1.1m (3'7) TO WIDEST POINTS
Entrance via upvc double glazed door. Stairs to first floor landing. Access to lounge.
Lounge 3.75m (12'4) TO WIDEST POINTS x 4.08m (13'5) TO WIDEST POINTS
Double glazed bay window to front aspect. Radiator. Sliding doors leading to dining room
Dining Room 3.16m (10'4) TO WIDEST POINTS x 5.09m (16'8) TO WIDEST POINTS
Built in storage and understairs cupboard. Double glazed window to rear and side aspects.
Kitchen 2.53m (8'4) TO WIDEST POINTS x 2.4m (7'10) TO WIDEST POINTS
Stainless steel sink unit with drainer. Space and plumbing for washing machine. Double glazed window to side aspect. Boiler. Radiator. Door leading to rear hall and ground floor wc.
Rear Hall .8m (2'7) TO WIDEST POINTS x .88m (2'11) TO WIDEST POINTS
UPCV double glazed exit door to rear garden. Access to ground floor wc.
Ground Floor WC
Low level wc. Double glazed window to rear aspect. Partial tiled walls.
Landing .84m (2'9) TO WIDEST POINTS x 1.75m (5'9) TO WIDEST POINTS
Double glazed window to side aspect. Access to bedrooms and bathroom.
Bedroom 1 3.76m (12'4) TO WIDEST POINTS x 5.06m (16'7) TO WIDEST POINTS
Double glazed window to front aspect and radiator.
Bedroom 2 3.15m (10'4) TO WIDEST POINTS x 3.21m (10'6) TO WIDEST POINTS
Built in storage cupboard. Double glazed window to rear aspect and radiator.
Bathroom 2.23m (7'4) TO WIDEST POINTS x 1.76m (5'9) TO WIDEST POINTS
Panelled bath with shower over, pedestal wash hand basin and low level wc. Partial tiled walls. Double glazed window to rear aspect. Radiator.
Rear Garden
Laid to lawn with established hedges to boundary.
Garage
Driveway for ample off street parking leading to garage at rear aspect.

Property Disclaimer - IMPORTANT NOTE TO PURCHASERS: We endeavour to make our sales particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and none is to be relied upon as statements of representation or fact. The services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency is given. All measurements have been taken as a guide to prospective buyers only, and are not precise. Floor plans where included are not to scale and accuracy is not guaranteed. If you require clarification or further information on any points, please contact us, especially if you are travelling some distance to view. Fixtures and fittings other than those mentioned are to be agreed with the seller. We cannot also confirm at this stage of marketing the tenure of this house.

Agent Details

NS Estates, Middlesbrough

01642 937591

Next Steps?

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