3 Bed Bungalow, Cash/Bridging Only, Consett, DH8 6HR, £135,000

Second Street, Watling Street Bungalows, Consett, DH8 6HR - 6 months ago

Sold STC
Cash
ROI: 2%
~80 m²
+17 photos

ValuationOvervalued

Sold Prices£60K - £183K
Sold Prices/m²£824/m² - £2.2K/m²

 

 

Square Metres

~79.90 m²
Price/m²£1.7K/m²

Value Estimate

£101,508

 

 

End Value (After Refurb)

£133,500

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£33,750

Stamp Duty & Legal Fees

£7,950

Refurb Costs

£30,666

Bridging Loan Interest

£3,544

Total Cash In

£77,660

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£133,500

Mortgage (After Refinance)

£100,125

Mortgage LTV

75%

Cash Left In

£77,660

Equity

£33,375

Rent Range

£600 - £900

Rent Estimate

£718

Running Costs/mo

£581

Cashflow/mo

£137

Cashflow/yr

£1,647

ROI

2%

Gross Yield

6%

Local Sold Prices

40 sold prices from £60K to £183K, average is £115K. £824/m² to £2.2K/m², average is £1.3K/m².

PriceDateDistanceAddressBeds 
£97K01/210.16 mi21, Second Street, Watling Street Bungalows, Consett, Durham DH8 6HP3
£110K04/230.22 mi18, Dere Park, Leadgate, Consett, County Durham DH8 6DG3
£140K01/210.37 mi13, Patterdale Mews, Consett, County Durham DH8 6HQ3
£81K12/200.4 mi6, Pont Road, Consett, Durham DH8 6HE3
£176K12/220.44 mi35, St Ives Gardens, Leadgate, Consett, County Durham DH8 7PQ3
£160K04/210.44 mi7, St Ives Gardens, Leadgate, Consett, Durham DH8 7PQ3
£137.5K11/220.44 mi18, St Ives Gardens, Leadgate, Consett, County Durham DH8 7PQ3
£116K12/220.45 mi14, Bluebell Close, Leadgate, Consett, County Durham DH8 7GA3
£95K06/230.47 mi7, Plantation Street, Consett, County Durham DH8 7PP3
£121.5K07/230.47 mi6, Bluebell Close, Leadgate, Consett, County Durham DH8 7GA3
£88K01/210.5 mi59, St Ives Road, Consett, County Durham DH8 7QB3
£88K01/210.5 mi59, St Ives Road, Consett, County Durham DH8 7QB3
£151.5K03/230.5 mi64, St Ives Road, Consett, County Durham DH8 7QB3
£80K08/210.53 mi6, Wingrove Terrace, Consett, County Durham DH8 7QE3
£112.5K06/210.63 mi38, Laurel Drive, Consett, County Durham DH8 7RG3
£169.9K11/200.66 mi20, Newbell Court, Consett, Durham DH8 6FE3
£100K05/210.69 mi43, Villa Real Road, Consett, County Durham DH8 6BL3
£60K12/200.7 mi15, Willow Crescent, Consett, County Durham DH8 7RQ3
£115K07/210.7 mi39, Willow Crescent, Consett, County Durham DH8 7RQ3
£95K04/210.7 mi133, Durham Road, Leadgate, Consett, County Durham DH8 7QY3
£120K08/210.74 mi22, Steadings Court, Consett, Durham DH8 6GA3
£183K11/200.74 mi7, Balmoral Grove, Consett, Durham DH8 6DE3
£80K03/210.75 mi96, Durham Road, Leadgate, Consett, County Durham DH8 7RB3
£140K06/210.79 mi28, Elsdon Gardens, Consett, Durham DH8 5NS3
£169.9K12/220.79 mi27, Elsdon Gardens, Consett, County Durham DH8 5NS3
£111K12/200.8 mi157, Durham Road, Leadgate, Consett, Durham DH8 7QZ3
£105K03/210.81 mi9, Ash Grove, Consett, Durham DH8 6EB3
£183K04/230.81 mi1, Fairways, Consett, County Durham DH8 5NT3
£151.3K03/230.81 mi10, Oakdale Road, Consett, County Durham DH8 6AT3
£82K09/210.84 mi298, Medomsley Road, Consett, County Durham DH8 5JP3
£110K12/200.84 mi302, Medomsley Road, Consett, County Durham DH8 5JP3
£124K11/200.87 mi33, Ashdale Road, Consett, Durham DH8 6AU3
£135K04/210.88 mi268, Medomsley Road, Consett, County Durham DH8 5JW3
£104.5K02/210.91 mi7, Chartwell Place, Consett, County Durham DH8 5JJ3
£115K07/210.93 mi6, Park Avenue, Consett, County Durham DH8 6AS3
£115K12/200.94 mi4, The Crescent, Consett, County Durham DH8 5JE3
£96K02/210.94 mi85, The Crescent, Consett, County Durham DH8 5JE3
£127.5K12/200.96 mi10, The Promenade, Consett, Durham DH8 5NJ3
£153.5K10/210.96 mi171, Medomsley Road, Consett, Durham DH8 5HU3
£135K01/230.98 mi30, Gladstone Street, Consett, County Durham DH8 6AQ3

Local Rents

10 rents from £600/mo to £900/mo, average is £725/mo.

RentDateDistanceAddressBeds 
£60012/240.4 mi-3
£75012/240.46 miBluebell Close, Leadgate, Consett, DH83
£65004/240.66 mi-3
£65012/240.66 miDunelm Way, Consett, DH83
£65002/240.66 mi-3
£75012/240.7 miSteading Court, Consett3
£72512/240.87 mi-3
£77502/251.08 mi-3
£90012/241.11 mi-3
£72503/251.19 mi-3

Local Area Statistics

Population in DH8

38,324

Population in Consett

38,379

Town centre distance

1.25 miles away

Nearest school

0.50 miles away

Nearest train station

7.06 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+9%

Sales demand

Seller's market

Capital growth (5yrs)

+14%

Property History

Listed for £135,000

October 4, 2024

Floor Plans

Description

  • Mid Terraced Bungalow +
  • Three Bedrooms +
  • Double Driveway +
  • Wonderful Rear Garden +
  • Integrated Kitchen Appliances +
  • Master En-Suite +
  • Ample Storage +
  • Recently Refurbished +

Jan Mitchell Properties are delighted to welcome to the market this stunning three bedroom bungalow on Second Street in the village of Leadgate. The property has been recently refurbish and really must be seen to appreciate the standard of accommodation on offer.

The property which will appeal to a variety of buyers briefly comprises:- Integrated kitchen with fitted wall and floor units as well as underfloor electric heating, lounge with built in storage cupboards, media wall and multi fuel stove, stylish three piece family bathroom, three good sized bedrooms, the main with a beautiful en-suite with walk in shower cubicle.

Externally, the property has been fully rendered with the front benefitting a double driveway providing off street parking for multiple vehicles. To the rear, there is a lovely Easterly facing garden with lawned and decking areas. An ideal space for al fresco dining during those long summer months.

Location
Second Street is situated in the village of Leadgate, less than two miles from Consett Town Centre. Leadgate offers a range of amenities and boasts excellent transport links to regional cities such as Durham and Newcastle, both located within 13 miles of the property.

Measurements
Lounge - 4.88 x 4.23
Kitchen - 1.94 x 4.16
Bedroom One - 3.99 x 3.63
Bedroom Two - 3.75 x 3.63
Bedroom Three - 4.03 x 2.07

IMPORTANT NOTE TO PURCHASERS
We endeavour to make our property details accurate, however, they do not constitute or form part of an offer or any contract and are not to relied upon as statements of representation or fact. Any services, systems and appliances listed in the details have not been tested by us and no guarantee is given to their operating ability or efficiency. All the measurements and floor plans have been taken as a guide to prospective purchasers and are not to be relied upon. Please be advised that some of the information may be awaiting vendor approval. If you require clarification of further information on any points please contact us direct.

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.

Tenure - We are not able to verify the tenure of the property as it is not always possible to see sight of the relevant documentation prior to marketing. Prospective purchasers must make further enquiries with their legal adviser

Council Tax Band: A (Durham County Council)
Tenure: Freehold

Agent Details

Jan Mitchell Properties, Covering North East

0191 625 1034

Next Steps?

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