2 Bed Terraced House, Refurb/BRRR, Middlesbrough, TS4 2BG, £80,000

266 Borough Road, Middlesbrough, TS4 2BG - 5 months ago

Sold STC
Refurb/BRRR
ROI: 7%
~68 m²
+3 photos

ValuationOvervalued

Sold Prices£30K - £118K
Sold Prices/m²£349/m² - £2.1K/m²

 

 

Square Metres

~68.11 m²
Price/m²£1.2K/m²

Value Estimate

£53,511

 

 

End Value (After Refurb)

£66,264

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£20,000

Stamp Duty & Legal Fees

£5,200

Refurb Costs

£26,876

Bridging Loan Interest

£2,100

Total Cash In

£55,926

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£66,264

Mortgage (After Refinance)

£49,698

Mortgage LTV

75%

Cash Left In

£55,926

Equity

£16,566

Rent Range

£433 - £795

Rent Estimate

£700

Running Costs/mo

£367

Cashflow/mo

£333

Cashflow/yr

£3,995

ROI

7%

Gross Yield

11%

Local Sold Prices

50 sold prices from £30K to £118K, average is £57.6K. £349/m² to £2.1K/m², average is £818/m².

PriceDateDistanceAddressBeds 
£65.5K04/210.11 mi5, Duncombe Road, Middlesbrough TS4 2FE2
£61.5K11/200.14 mi34, Talbot Street, Middlesbrough TS1 3EP2
£48.5K01/210.16 mi27, Esher Street, Middlesbrough TS1 3EN2
£44K11/200.16 mi7, Lytton Street, Middlesbrough TS4 2BZ2
£41K12/220.17 mi30, Somerset Street, Middlesbrough TS1 2EF2
£48.5K04/210.17 mi35, Saltwells Road, Middlesbrough TS4 2EB2
£52.5K03/210.23 mi9, Roscoe Street, Middlesbrough TS1 3HN2
£80K02/230.23 mi32, Angle Street, Middlesbrough TS4 2JA2
£63K05/210.24 mi26, Roscoe Street, Middlesbrough TS1 3HN2
£60K05/210.24 mi22, Angle Street, Middlesbrough TS4 2JA2
£77K11/220.24 mi16, Angle Street, Middlesbrough TS4 2JA2
£45K03/230.25 mi15, Benedict Street, Middlesbrough TS3 6DT2
£62K06/230.25 mi15, Haddon Street, Middlesbrough TS1 3JL2
£79K10/200.31 mi36, Laurel Street, Middlesbrough TS1 3DR2
£72K10/210.33 mi23, Aubrey Street, Middlesbrough TS1 3NH2
£90K12/220.35 mi66, Falmouth Street, Middlesbrough TS1 3HH2
£68K08/230.35 mi58, Byelands Street, Middlesbrough TS4 2HP2
£50.5K05/230.36 mi10, Seaton Street, Middlesbrough TS1 3NQ2
£60K05/230.36 mi9, Seaton Street, Middlesbrough TS1 3NQ2
£60K01/210.36 mi40, Montrose Street, Middlesbrough TS1 2HU2
£59K09/210.37 mi51, Errol Street, Middlesbrough TS1 3LW2
£106K11/230.39 mi15, Egmont Road, Middlesbrough TS4 2HU2
£45K04/210.4 mi68, Egerton Street, Middlesbrough TS1 3LS2
£38K11/210.41 mi49, Egerton Street, Middlesbrough TS1 3LS2
£61K07/210.41 mi68, Egerton Street, Middlesbrough TS1 3LS2
£61K07/210.41 mi68, Egerton Street, Middlesbrough TS1 3LS2
£45K07/230.41 mi71, Egerton Street, Middlesbrough TS1 3LS2
£56.2K04/210.42 mi24, Aubrey Street, Middlesbrough TS1 3LY2
£82K08/230.43 mi118, Park Lane, Middlesbrough TS1 3LL2
£100K07/220.44 mi32, Newstead Road, Middlesbrough TS4 2HJ2
£115K05/220.51 mi9, Stadium Gardens, Middlesbrough TS4 2WF2
£45K03/230.53 mi25, Coltman Street, Middlesbrough TS3 6JA2
£30K06/210.55 mi35, Dorothy Street, Middlesbrough TS3 6JD2
£88K06/230.55 mi23, Livingstone Road, Middlesbrough TS3 6ET2
£49K08/230.55 mi11, Livingstone Road, Middlesbrough TS3 6ET2
£70K06/210.56 mi25, Thomas Street, Middlesbrough TS3 6JE2
£100K05/230.57 mi11, Millfield Road, Middlesbrough TS3 6ES2
£118K08/210.57 mi5, Millfield Road, Middlesbrough TS3 6ES2
£40K03/210.59 mi16, Maria Street, Middlesbrough TS3 6JQ2
£43K06/210.6 mi21, Thornton Street, Middlesbrough TS3 6PG2
£30K11/200.61 mi11, Coronation Street, Middlesbrough TS3 6QH2
£39.5K09/210.62 mi23, Pelham Street, Middlesbrough TS1 4DL2
£45K03/230.62 mi5, Herbert Street, Middlesbrough TS3 6JR2
£36K07/210.63 mi5, Deacon Street, Middlesbrough TS3 6PB2
£40.5K03/230.64 mi10, Stainton Street, Middlesbrough TS3 6QF2
£48K09/210.65 mi34, Portman Street, Middlesbrough TS1 4DQ2
£105K12/200.65 mi62, Roseberry Road, Middlesbrough TS4 2LL2
£45K08/210.68 mi1, Peel Street, Middlesbrough TS1 4DG2
£48K10/200.68 mi27, Palmer Street, Middlesbrough TS1 4DF2
£48K03/230.69 mi2, Norcliffe Street, Middlesbrough TS3 6PS2

Local Rents

22 rents from £433/mo to £795/mo, average is £645/mo.

RentDateDistanceAddressBeds 
£65012/240.05 mi-2
£65010/240.09 miDouglas Court, Douglas Street, Middlesbrough, North Yorkshire, TS42
£67511/240.21 mi-2
£56510/240.23 mi-2
£65010/240.23 miRoscoe Street, Middlesbrough2
£55002/250.26 mi-2
£64012/240.28 mi-2
£70010/240.42 miCiac Building, Quay Street, Middlesbrourgh, TS22
£43310/240.48 miWoodlands Road, Middlesbrough, North Yorkshire, TS12
£43310/240.48 miWoodlands Road, Middlesbrough, North Yorkshire, TS12
£65010/240.52 mi25b Bedford Street, Middlesbrough, North Yorkshire, TS12
£67501/250.52 mi-2
£67503/250.52 mi-2
£57510/240.53 miColtman Street, MIDDLESBROUGH2
£79501/250.53 mi-2
£49910/240.54 mi-2
£65010/240.56 miPark Lane, Middlesbrough, TS12
£50010/240.57 mi-2
£65010/240.58 miEsk Street, Middlesbrough, TS32
£59503/250.58 mi-2
£57510/240.61 miPeaton Street, MIDDLESBROUGH2
£55010/240.62 miCadogan Street, North Ormesby, Middlesbrough, North Yorkshire, TS32

Local Area Statistics

Population in TS4

16,950

Population in Middlesbrough

189,245

Town centre distance

1.93 miles away

Nearest school

0.20 miles away

Nearest train station

0.65 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

+47%

Sales demand

Seller's market

Capital growth (5yrs)

-3%

Property History

Price changed to £80,000

January 8, 2025

Listed for £90,000

October 29, 2024

Floor Plans

Description

  • PERFECT FIRST TIME BUYER HOME! +
  • SOUGHT AFTER LOCATION +
  • IDEAL INVESTMENT OPPORTUNITY! +
  • CLOSE TO ACCESSIBLE TRANSPORTATION LINKS +
  • UNIVERSITY NEARBY +
  • TOWN CENTRE CLOSE BY +
  • POTENTIAL TO ACHIEVE £700PCM IN RENT +

Progression Property are proud to present on to the property market a first time buyers or investor opportunity!

Located in the sought after location of Middlesbrough a 5 minute walk away from the lively town centre and university, this property is one that won't hang around for long!

As you walk into the hallway, you are presented with two sitting rooms on the right hand side, both generously sized, sitting room one has a large bay window which overlooks the front of the property, in need of modernisation, you can't get a better head start than this one. Similarly, sitting room two has ample space and has views of the rear yard.

From sitting room two, is access to the kitchen, the kitchen is a good size with the scope of extending it into the yard.

Upstairs, is the bathroom which is very well sized and could be a third bedroom, the bathroom is currently occupied with toilet, bath and sink and a window.

Bedroom one is a standard size with views to the rear of the property, this bedroom can benefit from a single bed and a set of wardrobes.

Bedroom two is the master, a very large space, this has the potential of a double king sized bed and a full set of wardrobes.

This property has been much loved in the past, however, it is time for a new owner to purchase and put their own stamp on the property, please note this property is need of TLC.

All fixtures and fittings are included in the purchase.

For anymore information contact Progression Property on .

Hallway - Spacious hallway which leads to stairs straight ahead and two bedrooms upstairs and a bathroom and two sitting rooms.

Sitting Room 1 - Spacious sitting room compromising of a bay window allowing plenty of natural light through.

Sitting Room 2 - A good sized room which has views to the rear garden and access to the kitchen.

Bathroom - A very large bathroom which has plenty of space - could be converted into a third bedroom, currently has a bath, toilet and sink.

Bedroom 1 - A cosy bedroom which has a window overlooking the rear garden.

Bedroom 2 - A very large bedroom which has views of the front road and a large window.

Agent Details

Progression Property, Middlesbrough

01642 056899

Next Steps?

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