3 Bed Terraced House, Cash/Bridging Only, Consett, DH8 7QD, £55,000

Park Terrace, Leadgate, Consett, DH8 7QD - 1 views - 6 months ago

Sold STC
Cash
ROI: 8%
~83 m²
+10 photos

ValuationFair Value

Sold Prices£60K - £176K
Sold Prices/m²£824/m² - £2.2K/m²

 

 

Square Metres

~83.40 m²
Price/m²£659/m²

Value Estimate

£55,550

 

 

End Value (After Refurb)

£116,157

Uplift in Value

+111%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£13,750

Stamp Duty & Legal Fees

£3,950

Refurb Costs

£32,009

Bridging Loan Interest

£1,444

Total Cash In

£52,903

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Estimated Sale Price

£116,157

Agent Fees (1%)

£1,162

Bridging Loan

£41,250

Bridging Loan Interest

£1,444

Flip Profit

£20,842

Local Sold Prices

26 sold prices from £60K to £176K, average is £110.5K. £824/m² to £2.2K/m², average is £1.2K/m².

PriceDateDistanceAddressBeds 
£80K08/210.01 mi6, Wingrove Terrace, Consett, County Durham DH8 7QE3
£88K01/210.06 mi59, St Ives Road, Consett, County Durham DH8 7QB3
£88K01/210.06 mi59, St Ives Road, Consett, County Durham DH8 7QB3
£151.5K03/230.06 mi64, St Ives Road, Consett, County Durham DH8 7QB3
£137.5K11/220.09 mi18, St Ives Gardens, Leadgate, Consett, County Durham DH8 7PQ3
£176K12/220.09 mi35, St Ives Gardens, Leadgate, Consett, County Durham DH8 7PQ3
£160K04/210.09 mi7, St Ives Gardens, Leadgate, Consett, Durham DH8 7PQ3
£140K01/210.18 mi13, Patterdale Mews, Consett, County Durham DH8 6HQ3
£95K06/230.19 mi7, Plantation Street, Consett, County Durham DH8 7PP3
£95K04/210.21 mi133, Durham Road, Leadgate, Consett, County Durham DH8 7QY3
£112.5K06/210.24 mi38, Laurel Drive, Consett, County Durham DH8 7RG3
£60K12/200.26 mi15, Willow Crescent, Consett, County Durham DH8 7RQ3
£115K07/210.26 mi39, Willow Crescent, Consett, County Durham DH8 7RQ3
£80K03/210.27 mi96, Durham Road, Leadgate, Consett, County Durham DH8 7RB3
£111K12/200.3 mi157, Durham Road, Leadgate, Consett, Durham DH8 7QZ3
£110K04/230.34 mi18, Dere Park, Leadgate, Consett, County Durham DH8 6DG3
£81K12/200.36 mi6, Pont Road, Consett, Durham DH8 6HE3
£116K12/220.37 mi14, Bluebell Close, Leadgate, Consett, County Durham DH8 7GA3
£97K01/210.37 mi21, Second Street, Watling Street Bungalows, Consett, Durham DH8 6HP3
£121.5K07/230.38 mi6, Bluebell Close, Leadgate, Consett, County Durham DH8 7GA3
£169.9K11/200.8 mi20, Newbell Court, Consett, Durham DH8 6FE3
£120K08/210.85 mi22, Steadings Court, Consett, Durham DH8 6GA3
£88.3K05/230.91 mi18, Third Street, Crookhall, Consett, County Durham DH8 7LT3
£105K03/210.92 mi9, Ash Grove, Consett, Durham DH8 6EB3
£151.3K03/230.99 mi10, Oakdale Road, Consett, County Durham DH8 6AT3
£100K05/211 mi43, Villa Real Road, Consett, County Durham DH8 6BL3

Local Rents

10 rents from £600/mo to £2.9K/mo, average is £710/mo.

RentDateDistanceAddressBeds 
£65002/240.16 mi-3
£65004/240.16 mi-3
£65012/240.16 miDunelm Way, Consett, DH83
£60012/240.25 mi-3
£75012/240.38 miBluebell Close, Leadgate, Consett, DH83
£75012/240.81 miSteading Court, Consett3
£2,85002/251.12 mi-3
£72512/241.16 mi-3
£90012/241.18 mi-3
£69501/251.19 mi-3

Local Area Statistics

Population in DH8

38,324

Population in Consett

38,379

Town centre distance

1.46 miles away

Nearest school

0.10 miles away

Nearest train station

7.58 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+9%

Sales demand

Seller's market

Capital growth (5yrs)

+14%

Property History

Price changed to £55,000

December 10, 2024

Listed for £69,950

October 12, 2024

Floor Plans

Description

  • Mid Terraced Home +
  • Three Bedrooms +
  • Ample Storage +
  • Requires Some Updating +
  • Gas Central Heating & Double Glazing +
  • Many Local Amenities +
  • Ideal First Time Buy or Investment +
  • No Onward Chain +

Jan Mitchell Properties are delighted to welcome to the market this charming three bedroom terraced home situated within the ever popular village of Leadgate that would make an ideal purchase for the first time buyer, down-sizer or investor alike offered with no onward chain.

Internally the property is deceptively spacious and has neutral décor throughout providing a blank canvas for a buyer to make their own, briefly comprising:- Dining area which open up to the kitchen, three piece bathroom, and lounge/diner with storage cupboards. To the first floor, you are presented with three good sized bedrooms.

Externally there is a private yard to the rear that benefits from a Southerly aspect and then to the front an great outdoor space. This property really does have to be viewed to apricate the value of accommodation on offer.

Location
Park Terrace 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 - 3.87 x 7.14
Kitchen - 1.68 x 2.02
Dining Area - 2.58 x 4.11
Bedroom One - 3.90 x 3.12
Bedroom Two - 2.02 x 4.05
Bedroom Three - 2.35 x 3.57

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?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪

Similar Properties

Like this property? Maybe you'll like these ones close by too.