2 Bed Terraced House, Refurb/BRRR, Bishop Auckland, DL14 6UP, £40,000

Cheshire Place, Bishop Auckland, County Durham, DL14 6UP - 9 views - 6 months ago

Sold STC
Auction
Refurb/BRRR
ROI: 5%
~68 m²
+9 photos

ValuationFair Value

Sold Prices£34K - £230K
Sold Prices/m²£468/m² - £2.6K/m²

 

 

Square Metres

~68.11 m²
Price/m²£587/m²

Value Estimate

£40,000

 

 

End Value (After Refurb)

£79,456

Uplift in Value

+99%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£10,000

Stamp Duty & Legal Fees

£1,200

Refurb Costs

£26,155

Bridging Loan Interest

£1,050

Total Cash In

£40,155

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£79,456

Mortgage (After Refinance)

£59,592

Mortgage LTV

75%

Cash Released

£29,592

Cash Left In

£10,563

Equity

£19,864

Rent Range

£375 - £1,350

Rent Estimate

£525

Running Costs/mo

£373

Cashflow/mo

£152

Cashflow/yr

£1,820

ROI

5%

Gross Yield

16%

Local Sold Prices

50 sold prices from £34K to £230K, average is £74K. £468/m² to £2.6K/m², average is £906/m².

PriceDateDistanceAddressBeds 
£75K08/210.02 mi4, Bedford Place, Bishop Auckland, County Durham DL14 6TQ2
£75K08/210.02 mi4, Bedford Place, Bishop Auckland, County Durham DL14 6TQ2
£74K02/230.02 mi8, Bedford Place, Bishop Auckland, County Durham DL14 6TQ2
£74K03/210.02 mi9, Bedford Place, Bishop Auckland, County Durham DL14 6TQ2
£70K06/210.1 mi3, Suffolk Place, Bishop Auckland, County Durham DL14 6UT2
£57.5K05/210.15 mi33, Hampshire Place, Bishop Auckland, County Durham DL14 6UX2
£63K01/210.16 mi60, Seymour Street, Bishop Auckland, Durham DL14 6JD2
£49K01/210.19 mi27, Beaumont Street, Bishop Auckland, Durham DL14 6BJ2
£63.5K12/200.22 mi33, Frances Terrace, Bishop Auckland, County Durham DL14 6BW2
£90K04/230.26 mi16, Helena Terrace, Bishop Auckland, County Durham DL14 6BP2
£35K07/210.26 mi5, James Street, Bishop Auckland, Durham DL14 6HL2
£63K06/210.27 mi9, Chatsworth Avenue, Bishop Auckland, County Durham DL14 6AX2
£100K10/210.32 mi3a, Hardisty Crescent, Bishop Auckland, Durham DL14 6PG2
£75K11/210.32 mi12, Oaklea Terrace, Bishop Auckland, Durham DL14 6HH2
£69.5K04/210.32 mi9, Oaklea Terrace, Bishop Auckland, Durham DL14 6HH2
£74K09/210.32 mi3, Oaklea Terrace, Bishop Auckland, Durham DL14 6HH2
£80.8K05/230.32 mi9, Oaklea Terrace, Bishop Auckland, County Durham DL14 6HH2
£145K04/210.33 mi3, Westlea Avenue, Bishop Auckland, County Durham DL14 6HE2
£180K02/230.33 mi70, St Andrews Road, Bishop Auckland, County Durham DL14 6RY2
£90K03/230.34 mi38, St Andrews Road, Bishop Auckland, County Durham DL14 6RY2
£164K12/200.35 mi38, Walmer Avenue, Bishop Auckland, Durham DL14 6NW2
£147K05/230.36 mi24, Shawbrow View, Bishop Auckland, County Durham DL14 6XH2
£90K01/210.36 mi57, Shawbrow View, Bishop Auckland, County Durham DL14 6XH2
£125K02/210.36 mi30, Shawbrow View, Bishop Auckland, County Durham DL14 6XH2
£158.5K12/220.4 mi49, Shawbrow View, Bishop Auckland, County Durham DL14 6XH2
£83.5K07/210.4 mi7, Irvin Avenue, Bishop Auckland, County Durham DL14 6QG2
£48K02/210.42 mi6, Hillbeck Street, Bishop Auckland, County Durham DL14 6SF2
£98K03/210.45 mi54, Murphy Crescent, Bishop Auckland, County Durham DL14 6QH2
£72K02/230.45 mi6, Sun Street, Bishop Auckland, County Durham DL14 6DP2
£55.3K04/210.46 mi1, Oak Terrace, Bishop Auckland, County Durham DL14 6ES2
£55.3K04/210.46 mi1, Oak Terrace, Bishop Auckland, County Durham DL14 6ES2
£55.3K04/210.46 mi1, Oak Terrace, Bishop Auckland, County Durham DL14 6ES2
£72.5K06/230.47 mi7, Leopold Place, Bishop Auckland, County Durham DL14 6EJ2
£60K01/210.48 mi13, Leopold Place, Bishop Auckland, County Durham DL14 6EJ2
£44K10/210.48 mi12, Douthwaite Road, Bishop Auckland, Durham DL14 6QP2
£45K06/230.49 mi2, Dixon Street, Bishop Auckland, County Durham DL14 6DW2
£38K08/210.49 mi18, Sun Street, Bishop Auckland, County Durham DL14 6DP2
£155K03/210.52 mi5, Dudley Grove, Bishop Auckland, Durham DL14 6NB2
£34K11/200.56 miPierremont, Blackett Street, Bishop Auckland, Durham DL14 7TD2
£66K11/220.6 mi7, Rosemount Court, Bishop Auckland, County Durham DL14 6XN2
£175K11/220.64 mi92, Escomb Road, Bishop Auckland, County Durham DL14 6TZ2
£120K05/210.67 mi26, Wesley Grove, Bishop Auckland, County Durham DL14 7TG2
£123K05/210.67 mi25, Wesley Grove, Bishop Auckland, Durham DL14 7TG2
£230K02/210.69 mi11, Milford Meadow, South Church, Bishop Auckland, Durham DL14 6SJ2
£69K08/210.71 mi25, Queens Road, Bishop Auckland, County Durham DL14 7LX2
£85K03/230.71 mi8, South Church Road, Bishop Auckland, County Durham DL14 7JY2
£177K04/210.71 mi19, Westcott Drive, Auckland Park, Bishop Auckland, County Durham DL14 8SG2
£61K05/230.71 mi56, Dere Avenue, Bishop Auckland, County Durham DL14 9SY2
£85K12/200.71 mi20, Dere Avenue, Bishop Auckland, County Durham DL14 9SY2
£70K01/210.71 mi18, Dere Avenue, Bishop Auckland, Durham DL14 9SY2

Local Rents

20 rents from £375/mo to £1.4K/mo, average is £535/mo.

RentDateDistanceAddressBeds 
£60003/240.18 miHigh Melbourne Street, Bishop Auckland2
£50012/240.18 miArran Court, Bishop Auckland2
£48003/250.2 mi-2
£57504/240.21 miKensington Heights, Bishop Auckland, Bishop Auckland, DL14 2
£49510/230.21 mi-2
£54510/240.21 mi-2
£55001/240.25 mi-2
£57504/240.25 miHelena Terrace, Bishop Auckland, County Durham, DL142
£57504/240.26 miHelena Terrace, Bishop Auckland, County Durham2
£57503/250.27 mi-2
£47303/250.35 mi-2
£52510/230.4 mi-2
£47512/240.42 miHillbeck Street, County Durham, DL142
£37504/240.43 miHillbeck Street, Bishop Auckland , DL14 6SF2
£55004/240.48 miAintree Drive, Bishop Auckland2
£52503/240.48 miAintree Drive, Bishop Auckland2
£52504/240.48 miAintree Drive, Bishop Auckland2
£45004/240.57 miBlackett Street, Bishop Auckland, Bishop Auckland, DL14 2
£57512/240.58 mi-2
£1,35003/250.6 mi-2

Local Area Statistics

Population in DL14

37,237

Population in Bishop Auckland

51,200

Town centre distance

0.42 miles away

Nearest school

0.20 miles away

Nearest train station

0.54 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+7%

Sales demand

Seller's market

Capital growth (5yrs)

-4%

Property History

Listed for £40,000

September 30, 2024

Description

  • EXCELLENT INVESTMENT OPPORTUNITY +
  • GOOD SIZE REAR GARDEN +
  • OFF ROAD PARKING +
  • RESERVATION FEE APPLIES +
  • POPULAR LOCALITY +
  • EPC RATING TO FOLLOW +

*EXCELLENT INVESTMENT OPPORTUNITY BEING SOLD VIA AUCTION* *GOOD SIZE REAR GARDEN & OFF ROAD PARKING* *RESERVATION FEE APPLIES* Situated in the heart of Bishop Auckland, this two-bedroom property offers an excellent investment opportunity. While in need of some cosmetic upgrading, the home provides a solid foundation for value enhancement. With the added benefits of a good-sized rear garden and off-road parking, it has plenty of potential for future development. Being sold via auction with no onward chain, the property ensures a smooth purchasing process, making it an ideal project for investors or buyers looking to create their perfect home in a prime location with a floorplan that briefly comprises Entrance into Reception Hall, good size Lounge/Dining Room and Kitchen whilst to the first floor there are 2 generous Bedrooms plus Bathroom and separate Wc. Externally to the front of the property there is a fence enclosed lawned garden whilst to the rear there is a further fence enclosed garden planted with a variety of trees and shrubbery and handy outhouse. There is also off road parking at the back of the property.

Agent Details

Dowen, Bishop Auckland

01388 311692

Next Steps?

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