3 Bed Detached House, Refurb/BRRR, Durham, DH1 4NL, £375,000

Larches Road, North End, Durham, DH1 4NL - 5 months ago

Refurb/BRRR
~93 m²
+11 photos

ValuationOvervalued

Sold Prices£100K - £680K
Sold Prices/m²£1.5K/m² - £5.2K/m²

 

 

Square Metres

~93 m²
Price/m²£4K/m²

Value Estimate

£193,375

 

 

End Value (After Refurb)

£375,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£93,750

Stamp Duty & Legal Fees

£26,200

Refurb Costs

£35,600

Bridging Loan Interest

£9,844

Total Cash In

£167,144

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£375,000

Mortgage (After Refinance)

£281,250

Mortgage LTV

75%

Cash Left In

£167,144

Equity

£93,750

Rent Range

£775 - £3,000

Rent Estimate

£1,402

Running Costs/mo

£1,472

Cashflow/mo

£-70

Cashflow/yr

£-843

Gross Yield

4%

Local Sold Prices

50 sold prices from £100K to £680K, average is £248.8K. £1.5K/m² to £5.2K/m², average is £2.3K/m².

PriceDateDistanceAddressBeds 
£379K01/230.03 mi18a, Springwell Avenue, Durham, County Durham DH1 4LY3
£680K11/200.03 mi16, Springwell Avenue, Durham DH1 4LY3
£355K02/210.16 mi4, North Crescent, Durham, County Durham DH1 4NE3
£390K12/220.19 mi31, Springwell Road, Durham, County Durham DH1 4LR3
£380K05/210.21 mi5, Valeside, Durham, County Durham DH1 4RF3
£380K02/230.21 mi33, Springwell Road, Durham, County Durham DH1 4LR3
£192K02/230.25 mi1, St Leonards, Durham, County Durham DH1 4NH3
£247.5K08/210.3 mi5, Boste Crescent, Durham DH1 5US3
£210K04/210.3 mi23, Boste Crescent, Durham DH1 5US3
£295K08/230.41 mi18, Surtees Drive, Durham, County Durham DH1 4AR3
£265K02/230.43 mi8, Lyndhurst Drive, Durham, County Durham DH1 4AE3
£290K05/210.44 mi9, St Monica Grove, Durham DH1 4AS3
£400K04/230.44 miSt Martins, Whitesmocks, Durham, County Durham DH1 4LQ3
£225K04/210.52 mi22, St Bedes Close, Durham DH1 4AB3
£360K11/210.56 mi7, The Avenue, Durham, County Durham DH1 4ED3
£495K11/210.56 miArndor, Farnley Hey Road, Durham, County Durham DH1 4EA3
£250K10/200.58 mi27, May Street, Durham, County Durham DH1 4EN3
£255K10/210.58 mi1, Durham Road, Aykley Heads, Durham DH1 5AL3
£325K04/210.58 mi3, St Margarets Mews, Durham DH1 4DP3
£250K02/210.59 mi12, Dryburn Road, Durham, County Durham DH1 5AJ3
£280.3K01/230.59 mi4, Nevilledale Terrace, Durham, County Durham DH1 4QG3
£270K12/200.65 mi25, Witton Grove, Durham DH1 5AB3
£234K09/210.66 mi6, George Street, Durham, County Durham DH1 4PA3
£252.5K02/230.67 mi31, Briardene, Durham, County Durham DH1 4QU3
£145K12/200.72 mi36, Lilac Avenue, Framwellgate Moor, Durham, County Durham DH1 5JB3
£125K04/210.77 mi1, Lilac Avenue, Framwellgate Moor, Durham, County Durham DH1 5JD3
£135.6K07/210.77 mi25, Lilac Avenue, Durham DH1 5JD3
£215K03/230.79 mi15, Cross View Terrace, Durham, County Durham DH1 4JY3
£230K08/210.82 mi14, Nevilles Cross Villas, Durham, County Durham DH1 4JR3
£160K06/230.82 mi1, Newton Drive, Durham, County Durham DH1 5AZ3
£145K10/210.82 mi1, Newton Drive, Durham, County Durham DH1 5AZ3
£270K12/220.84 mi18, Kirkwood Drive, Durham, County Durham DH1 4FF3
£225K04/210.85 mi59, Kirkwood Drive, Durham DH1 4FF3
£225K11/220.85 mi40, Kirkwood Drive, Durham, County Durham DH1 4FF3
£197K10/200.85 mi57, Kirkwood Drive, Durham DH1 4FF3
£192.5K04/210.85 mi56, Kirkwood Drive, Durham DH1 4FF3
£274K02/230.85 mi61, Kirkwood Drive, Durham, County Durham DH1 4FF3
£325K02/210.87 mi2, Ellam Avenue, Durham, County Durham DH1 4PG3
£325.5K05/210.87 mi4, Ellam Avenue, Durham DH1 4PG3
£215K11/200.88 mi2, Hillcrest, Durham DH1 1RB3
£310K03/210.88 mi21, Wearside Drive, Durham, County Durham DH1 1LE3
£209K05/210.88 mi6, Wearside Drive, Durham, County Durham DH1 1LE3
£121.5K01/230.89 mi14, Brackenfield Road, Durham, County Durham DH1 5HX3
£100K03/230.91 mi6, Durham Terrace, Durham, County Durham DH1 5EH3
£135K11/210.92 mi9, Lund Avenue, Durham, County Durham DH1 5BJ3
£127.1K01/210.92 mi12, Ghyll Field Road, Durham, County Durham DH1 5HU3
£245.8K06/210.93 mi26, Dalton Crescent, Durham, County Durham DH1 4FB3
£245K01/230.95 mi6, Rhodes Terrace, Durham, County Durham DH1 4JW3
£201.8K03/210.96 mi21, Edlingham Road, Newton Hall, Durham, County Durham DH1 5YS3
£315K05/230.96 mi4, Kepier Terrace, Durham, County Durham DH1 1JS3

Local Rents

25 rents from £775/mo to £3K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£1,95012/240.25 miSt Leonards, Durham3
£1,80009/230.25 mi-3
£95012/240.38 mi-3
£1,00003/250.38 mi-3
£95012/240.38 miRedhills Lane, Durham, DH13
£1,30012/240.51 miSt. Bedes Close, Durham3
£1,40012/240.52 miByland Close, Durham City3
£1,40012/240.66 miSergeant Close, Aykley Heads, Durham, DH13
£97512/240.66 miPorter Close, Aykley Heads, Durham3
£2,50012/240.81 mi-3
£89509/230.82 mi-3
£87508/230.83 mi-3
£1,05012/240.85 mi-3
£1,10012/240.85 miKirkwood Drive, Sheraton Park3
£2,50003/250.86 mi-3
£2,50003/250.86 mi-3
£80009/230.91 mi-3
£97012/240.91 mi-3
£1,15012/240.95 miQuarryheads Lane, Durham, County Durham, DH13
£1,10010/240.96 mi-3
£1,45010/240.97 mi-3
£77512/240.99 miVictoria Court, Durham, DH13
£1,50012/241.02 miLowes Rise, Durham, DH13
£1,17012/241.19 mi-3
£3,00001/251.24 mi-3

Local Area Statistics

Population in DH1

49,938

Population in Durham

124,445

Town centre distance

0.85 miles away

Nearest school

0.20 miles away

Nearest train station

0.45 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+5%

Sales demand

Balanced market

Capital growth (5yrs)

+10%

Property History

Listed for £375,000

October 31, 2024

Floor Plans

Description

  • 3 Bedroom Detached Family Home +
  • Requires Modernisation +
  • Quiet Cul De Sac Location +
  • Popular North End Area +
  • Rare Opportunity +
  • Viewing Essential +

Rarely available for sale, we are delighted to offer this three bedroomed extended detached family home sat on a private plot.

The property itself does require modernisation, updating and some structural work, having been occupied for a considerable number of years by our clients, the house itself has accommodation comprising: entrance hallway, double aspect lounge, separate dining room, kitchen and utility area. To the first floor there are three bedrooms and a bathroom. Externally there are gardens to the front, side and rear, all being particularly private and not overlooked. There is a driveway and garage to the side providing parking.

Larches Road is conveniently situated within walking distance of the immediate City Centre with its comprehensive shopping and recreational facilities and amenities. North End is also situated within walking distance of County Hall, the Land Registry, the University Hospital, as well as the well respected Durham Johnston School and St Leonards Roman Catholic School. It is conveniently situated for commuting purposes lying close to the A(167) Highway which provides good road links to other regional centres and is within walking distance of the main line railway station.

Agent notes:
Council Tax band - E
Utilities: Mains gas, electricity, water (metered) and sewerage
Mobile Phone Coverage: Good coverage from O2, limited coverage from EE, Vodafone & Three,
Broadband Estimated speed:
Standard 7 Mbps
Superfast 67 Mbps
Ultrafast 9000 Mbps
Flood Risk: Rivers & Seas - No Risk, Surface Water – very low
Covenants: There are standard estate covenants on this property, this can be provided on request.
Mining: Please note this property is situated in a former mining area.
Article 4 planning restrictions apply

Agent Details

J W Wood, Durham City

0191 625 0838

Next Steps?

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