2 Bed Terraced House, Refurb/BRRR, Sunderland, SR5 2DP, £75,000

8 Cicero Terrace, Sunderland, Tyne And Wear, SR5 2DP - 5 months ago

Sold STC
Refurb/BRRR
ROI: 6%
~68 m²
+3 photos

ValuationOvervalued

Sold Prices£36K - £220K
Sold Prices/m²£588/m² - £2.2K/m²

 

 

Square Metres

~68.11 m²
Price/m²£1.1K/m²

Value Estimate

£69,759

 

 

End Value (After Refurb)

£71,500

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£18,750

Stamp Duty & Legal Fees

£3,450

Refurb Costs

£26,073

Bridging Loan Interest

£1,969

Total Cash In

£51,991

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£71,500

Mortgage (After Refinance)

£53,625

Mortgage LTV

75%

Cash Left In

£51,991

Equity

£17,875

Rent Range

£575 - £750

Rent Estimate

£651

Running Costs/mo

£374

Cashflow/mo

£277

Cashflow/yr

£3,328

ROI

6%

Gross Yield

10%

Local Sold Prices

51 sold prices from £36K to £220K, average is £77K. £588/m² to £2.2K/m², average is £1.1K/m².

PriceDateDistanceAddressBeds 
£70K03/230.05 mi20, Kismet Street, Sunderland, Tyne And Wear SR5 2LG2
£95K01/210.15 mi35, Hayton Close, Sunderland, Tyne And Wear SR5 2BU2
£83K09/230.19 mi8, Park Row, Sunderland, Tyne And Wear SR5 2EE2
£63.5K03/210.19 mi21, Florence Crescent, Sunderland, Tyne And Wear SR5 2EH2
£40K12/230.19 mi40, Florence Crescent, Sunderland, Tyne And Wear SR5 2EH2
£75K03/210.2 mi10, Northern Way, Sunderland, Tyne And Wear SR5 2DZ2
£77K03/230.21 mi1, Kingsley Close, Sunderland, Tyne And Wear SR5 2AP2
£100K02/230.22 mi10, Freda Street, Sunderland, Tyne And Wear SR5 2EF2
£60K08/210.22 mi51, Freda Street, Sunderland, Tyne And Wear SR5 2EF2
£82.5K06/210.22 mi39, Freda Street, Sunderland, Tyne And Wear SR5 2EF2
£36K06/210.23 mi8, Kipling Street, Sunderland, Tyne And Wear SR5 2AT2
£63K11/200.24 mi46, Darwin Street, Sunderland, Tyne And Wear SR5 2EJ2
£73K06/210.24 mi38, Darwin Street, Sunderland, Tyne And Wear SR5 2EJ2
£120K07/230.24 mi15, Darwin Street, Sunderland, Tyne And Wear SR5 2EJ2
£90K02/240.24 mi55, Darwin Street, Sunderland, Tyne And Wear SR5 2EJ2
£39.5K12/230.29 mi41, Morgan Street, Sunderland, Tyne And Wear SR5 2HN2
£75K01/210.31 mi91, James Armitage Street, Sunderland, Tyne And Wear SR5 2SA2
£59K03/210.31 mi63, James Armitage Street, Sunderland, Tyne And Wear SR5 2SA2
£59K09/230.31 mi90, James Armitage Street, Sunderland, Tyne And Wear SR5 2SA2
£77K12/230.31 mi83, James Armitage Street, Sunderland, Tyne And Wear SR5 2SA2
£135K12/230.37 mi12, Edinburgh Square, Sunderland, Tyne And Wear SR5 2RF2
£65K02/240.38 mi17, Carley Road, Sunderland, Tyne And Wear SR5 2RN2
£53K10/200.41 mi24, Frank Street, Sunderland, Tyne And Wear SR5 1SB2
£40K05/230.41 mi13, Frank Street, Sunderland, Tyne And Wear SR5 1SB2
£40K05/230.41 mi13, Frank Street, Sunderland, Tyne And Wear SR5 1SB2
£65K03/210.53 mi9, Swan Street, Sunderland, Tyne And Wear SR5 1HB2
£64K07/210.53 mi6, Swan Street, Sunderland, Tyne And Wear SR5 1HB2
£62.5K05/210.57 mi14, Wallace Street, Sunderland, Tyne And Wear SR5 1HD2
£68K04/210.58 mi111, Southwick Road, Sunderland, Tyne And Wear SR5 1HQ2
£132K02/210.59 mi23, Nawton Avenue, Sunderland, Tyne And Wear SR5 1JR2
£61K03/230.59 mi14, Ross Street, Sunderland, Tyne And Wear SR5 1HA2
£99K10/230.63 mi31, Bond Close, Sunderland, Tyne And Wear SR5 1ES2
£220K12/200.64 mi22, Broomshields Avenue, Sunderland, Tyne And Wear SR5 1SH2
£165K10/200.65 mi11, Newburn Avenue, Sunderland, Tyne And Wear SR5 1LB2
£75K12/220.67 mi16, Radcliffe Road, Sunderland, Tyne And Wear SR5 5RG2
£162.5K02/210.67 mi14, Newhaven Avenue, Sunderland, Tyne And Wear SR5 1JW2
£87.5K11/200.67 mi5, Helmsley Court, Sunderland, Tyne And Wear SR5 5HH2
£56.5K03/210.68 mi44, Winslow Close, Sunderland, Tyne And Wear SR5 5RZ2
£95K03/240.71 mi21, Eglinton Street North, Sunderland, Tyne And Wear SR5 1DY2
£127.5K09/230.72 mi19, Middleham Court, Sunderland, Tyne And Wear SR5 5HQ2
£60K04/210.72 mi44, Wayman Street, Sunderland, Tyne And Wear SR5 1ED2
£164.6K04/230.73 mi53, Netherburn Road, Sunderland, Tyne And Wear SR5 1LF2
£130K09/230.74 mi9, Rosyth Square, Sunderland, Tyne And Wear SR5 5LD2
£128K09/210.75 mi4, Newington Court, Sunderland, Tyne And Wear SR5 1LW2
£150K06/230.76 mi1, Netherburn Road, Sunderland, Tyne And Wear SR5 1LN2
£77.8K04/210.77 mi85, Raleigh Road, Sunderland, Tyne And Wear SR5 5RB2
£85K03/230.78 mi17, Raleigh Road, Sunderland, Tyne And Wear SR5 5RD2
£100K04/230.78 mi34, Raleigh Road, Sunderland, Tyne And Wear SR5 5RD2
£99.5K08/230.78 mi16, Rupert Square, Sunderland, Tyne And Wear SR5 5LG2
£95K04/210.79 mi2, Renfrew Road, Sunderland, Tyne And Wear SR5 5PT2
£68.5K11/200.79 mi15, Redcar Road, Sunderland, Tyne And Wear SR5 5PZ2

Local Rents

12 rents from £575/mo to £750/mo, average is £663/mo.

RentDateDistanceAddressBeds 
£57509/240.07 miKeats Avenue, Sunderland, Tyne And Wear, SR52
£67503/250.23 mi-2
£75009/240.24 miDarwin Street, Sunderland2
£59509/240.36 miCarley Road, Sunderland, Tyne and Wear, SR5 2RP2
£59509/240.36 miCarley Road, Sunderland, Tyne and Wear, SR5 2RP2
£59509/240.38 miCarley Road, Southwick2
£75007/240.55 mi-2
£75012/240.55 mi-2
£75002/250.55 mi-2
£75008/230.59 mi-2
£65009/240.6 miRoss Street, Sunderland2
£60010/230.61 mi-2

Local Area Statistics

Population in SR5

34,580

Population in Sunderland

183,740

Town centre distance

1.39 miles away

Nearest school

0.20 miles away

Nearest train station

0.81 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

+20%

Sales demand

Seller's market

Capital growth (5yrs)

+9%

Property History

Listed for £75,000

October 31, 2024

Sold for £27,500

1998

Floor Plans

Description

  • Two Bedroomed Terraced House +
  • Well Appointed Accommodation Throughout +
  • Offering A Good Investment Opportunity! +
  • Benefitting From Gas Central Heating and UPVC Double Glazing +
  • Off Road Parking To The Rear +
  • Close to an Excellent Range of Amenities +
  • Low Maintenance Gardens To The Front and Rear +
  • Easy Access to A19 and City Centre +
  • Offered With No Onward Chain +
  • Viewing Highly Recommended! +

Available with immediate vacant possession and no upper chain, this conveniently situated two bedroom, end terraced home offers good investment potential for landlords, but is also suitable for first time buyers as it has been priced for a quick sale.
The internal accommodation comprises of an entrance hall, lounge, breakfasting kitchen, two double sized first floor bedrooms and a bathroom, whilst features of note include gas central heating and UPVC double glazing.
Externally there is a town garden to the front, a passage to the side, and an enclosed yard to the rear which has space for a car together with a brick outhouse ideal for storage.
Just a short walk from Southwick Green shopping centre, the property is also well place for Sunderland City Centre and the A19, whilst Sunderland’s magnificent coastline is also within easy reach.
In need of some updating and modernising but carrying huge potential, the property has wonderful views at first floor level across the city landscape towards the Northern Spire Bridge.
Should be viewed as a matter of urgency as considerable interest is anticipated!

Ground Floor - UPVC double glazed door to

Entrance Lobby - Part glazed to living room.

Living Room - 3.53 x 4.46 (11'6" x 14'7") - With an electric fire with granite insert and hearth and timber surround, dado rail, coved corning to ceiling, UPVC double glazed oriel bay window and a double radiator.

Inner Hall - With under stairs storage cupboard with fitted shelving, single radiator, and there is a UPVC double glazed door leading out into the rear garden.

Kitchen - 2.52 x 2.20 (8'3" x 7'2" ) - Base and eye level units with working surfaces incorporating a single drainer sink unit with mixer taps, there are glass fronted display cabinets, fitted shelving. Space and plumbing for automatic washing machine, space for gas cooker and overhead extractor hood, additional work bench space, panelled walls, UPVC double glazed door to the rear elevation, there is vinyl flooring and space has been provided for the inclusion of a fridge freezer.

First Floor Landing - With access point to an insulated loft, built in cupboard with wall mounted gas combination boiler serving hot water and radiators, which we have been advised by our clients was installed around October 2020 and still has one year remaining on the warranty up to 2025.

Bedroom 1 - 3.65 x 3.63 max dimensions into fitted robes (11' - Fitted wardrobes with sliding doors, UPVC double glazed window to the front elevation, single radiator and a bulk head cupboard with hanging rails.

Bedroom 2 (Rear) - 3.53 x 2.42 (11'6" x 7'11" ) - UPVC double glazed window to rear elevation and a single radiator.

Bathroom - Low level WC, wash basin set into vanity unit with cupboards under, panel bath with overhead electric shower- white suite with tiled walls and vinyl flooring, a single radiator and a UPVC double glazed window to the rear elevation.

Outside - Block paved gardens to the front with a single gate to the side allowing access to a side passage perfect for wheelie bin storage, and providing access to enclosed part landscaped gardens to the rear which allow for vehicle access if required (subject to having kerbs lowered by the highways authority) and enjoying a lovely sunny aspect.

Tenure Freehold - We are advised by the Vendors that the property is Freehold. Any prospective purchaser should clarify this with their Solicitor.

Council Tax Band - The Council Tax Band is Band A.

Important Notice - Peter Heron Ltd for themselves and for the vendors of this property whose agents they are, give notice that:-
The particulars are set out for general guidance only for the intending Purchasers and do not constitute part of an offer or contract. Whilst we endeavour to make our sales particulars accurate and reliable, if there is anything of particular importance which you feel may influence your decision to purchase, please contact the office and we will be pleased to check the information. Do so particularly, if contemplating travelling some distance to view the property.
All descriptions, dimensions, references to conditions and necessary permissions for use and occupation and other details are given in good faith, and are believed to be correct, however any intending purchasers should not rely on them that statements are representations of fact, but must satisfy themselves by inspection or otherwise as to the correctness of each of them. Independent property size verification is recommended.
Lease details, service charges and ground rent (where applicable) are given as a guide only and should be checked and confirmed by your Solicitor prior to exchange of contracts. No person in the employment of Peter Heron Ltd has any authority to make or give any representation or warranty whatever in relation to this property or these particulars, nor to enter into any contract on behalf of Peter Heron Ltd, nor into any contract on behalf of the Vendor. The copyright of all details and photographs remain exclusive to Peter Heron Ltd.
Please note that in the event the purchaser uses the services of Peter Heron Conveyancing in the purchase of their home, Peter Heron Ltd will be paid a completion commission of £210.00 by Movewithus Ltd.

Sea Road Viewings - To arrange an appointment to view this property please contact our Sea Road branch on or book viewing online at peterheron.co.uk

Opening Times - Monday to Friday 9.00am - 5.00pm Saturday 9.00am - 12noon

Ombudsman - Peter Heron Estate Agents are members of The Property Ombudsman and subscribe to The Property Ombudsman Code of Practice.

Agent Details

Peter Heron Residential Sales and Lettings, Fulwell

0191 607 1282

Next Steps?

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