2 Bed Flat, Single Let, Redcar, TS10 1AX, £88,000

Regency Mews, Redcar, TS10 1AX - 5 months ago

Leasehold
BTL
ROI: 3%
~60 m²
+4 photos

ValuationUndervalued

Sold Prices£55K - £197.5K
Sold Prices/m²£1.3K/m² - £3.1K/m²

 

 

Square Metres

~59.80 m²
Price/m²£1.5K/m²

Value Estimate

£109,120
BMV24%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£22,000

Stamp Duty & Legal Fees

£5,600

Total Cash In

£27,600

 

 

Cash Out

 

Rent Range

£450 - £2,900

Rent Estimate

£450

Running Costs/mo

£385

Cashflow/mo

£65

Cashflow/yr

£780

ROI

3%

Gross Yield

6%

Local Sold Prices

11 sold prices from £55K to £197.5K, average is £100K. £1.3K/m² to £3.1K/m², average is £2.7K/m².

PriceDateDistanceAddressBeds 
£61.5K02/210.36 miFlat 18, Blenheim Mews, Blenheim Terrace, Redcar, Redcar And Cleveland TS10 1QP2
£81.5K04/220.36 miFlat 16, Blenheim Mews, Blenheim Terrace, Redcar, Redcar And Cleveland TS10 1QP2
£117.5K10/220.43 miFlat 3, Bourne Manse, Hamilton Grove, Redcar, Redcar And Cleveland TS10 1SY2
£107K11/220.43 miFlat 9, Bourne Manse, Hamilton Grove, Redcar, Redcar And Cleveland TS10 1SY2
£80K11/210.47 mi23, The Avenue, Redcar, Redcar And Cleveland TS10 2AP2
£73.5K06/211.04 mi1a, Oak Road, Redcar, Redcar And Cleveland TS10 3NX2
£100K05/231.19 mi42, Warwick Road, Redcar, Redcar And Cleveland TS10 2HB2
£185K11/201.41 mi19, Saltscar, Redcar, Redcar And Cleveland TS10 2PH2
£131K05/211.58 mi14, Fir Grove, Redcar, Redcar And Cleveland TS10 4QH2
£55K04/222.85 mi105b, High Street, Marske By The Sea, Redcar, Redcar And Cleveland TS11 6JL2
£197.5K11/202.87 mi89, Longbeck Lane, New Marske, Redcar, Redcar And Cleveland TS11 8JU2

Local Rents

34 rents from £450/mo to £2.9K/mo, average is £600/mo.

RentDateDistanceAddressBeds 
£57510/240 miRegency Mews,Redcar,TS102
£2,90012/240.03 mi-2
£75011/240.05 mi-2
£75002/250.05 mi-2
£2,00011/240.06 mi-2
£75011/240.07 mi-2
£75002/250.07 mi-2
£57012/240.1 mi-2
£45005/230.1 mi-2
£55010/240.12 mi-2
£57502/250.12 mi-2
£58511/240.14 mi-2
£52510/240.14 mi-2
£50010/240.14 mi-2
£50010/240.14 mi-2
£60010/240.17 miLaburnum House, Coatham Road, Redcar2
£55010/240.17 miCoatham Road, Redcar2
£45001/250.18 mi-2
£45004/250.18 mi-2
£2,30010/240.18 mi-2
£2,30002/250.18 mi-2
£49510/240.19 miDundas Street, Redcar2
£65010/240.36 miFrance Street, Redcar, TS102
£60010/240.36 miBlenheim Terrace, Redcar, North Yorkshire, TS102
£65502/250.36 mi-2
£2,00008/240.36 mi-2
£2,90011/240.36 mi-2
£65010/240.39 miCharles Street, Redcar, North Yorkshire, TS102
£2,00010/240.52 mi-2
£2,30010/240.52 mi-2
£2,30002/250.52 mi-2
£59501/250.56 mi-2
£59501/250.56 mi-2
£55010/240.58 mi-2

Local Area Statistics

Population in TS10

36,800

Population in Redcar

48,622

Town centre distance

0.88 miles away

Nearest school

0.40 miles away

Nearest train station

0.22 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+100%

Sales demand

Seller's market

Capital growth (5yrs)

+16%

Property History

Price changed to £88,000

April 5, 2025

Price changed to £90,000

March 28, 2025

Price changed to £82,000

March 20, 2025

Price changed to £86,000

January 31, 2025

Price changed to £88,000

January 19, 2025

Price changed to £90,000

January 11, 2025

Price changed to £82,000

January 3, 2025

Price changed to £84,000

December 21, 2024

Price changed to £86,000

December 13, 2024

Listed for £88,000

November 12, 2024

Floor Plans

Description

  • Buy-to-Let Opportunity +
  • Long Term Tenant Currently Situated +
  • Likely to attract enquiries from Serious Investors & Developers. +
  • Good condition +
  • Easy Access to Local Amenities +
  • INVESTMENT POTENTIAL DETAILED BELOW (Let Property Pack) +

Our latest listing is a 2 bedroom Flat located in Redcar. It is near valuable amenities, can generate rewarding rental returns, and has a tenant currently situated.

For investors looking to expand their portfolio, this is a fantastic opportunity!

This well-kept home features 2 bedrooms, a lounge, a kitchen, and a bathroom.

Investment details

It currently produces an annual gross income of £6,600. Considering the purchase price, this will make for a worthwhile addition to an investor's property portfolio.

Please see the Let Property Pack linked below for greater details on this property's investment potential.

If you are interested, please call us.

Tenancy Details

The current tenants have lived in the property for several years and have consistently paid their rent for the duration of their stay. They do not have any intentions to move out so they hope to remain in the property.

Let Property Sales is committed to facilitating a smooth transaction process and to allow for maximum commitment to the sale from both parties, a fully refundable buyers premium may apply to secure a property. This amount is not an additional cost and is refunded in the event of non-completion.

Agent Details

Let Property Sales & Management, Glasgow

0141 673 7973

Next Steps?

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