2 Bed Semi-Detached House, Refurb/BRRR, Durham, DH6 5BW, £55,000

Grange Park Crescent, Bowburn, Durham, DH6 5BW - 7 views - 5 months ago

Sold STC
Auction
Refurb/BRRR
ROI: 11%
~68 m²
+6 photos

ValuationUndervalued

Sold Prices£48.5K - £123.5K
Sold Prices/m²£538/m² - £1.8K/m²

 

 

Square Metres

~68.11 m²
Price/m²£808/m²

Value Estimate

£56,650
BMV3%

 

 

End Value (After Refurb)

£85,726

Uplift in Value

+56%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£13,750

Stamp Duty & Legal Fees

£2,850

Refurb Costs

£26,163

Bridging Loan Interest

£1,444

Total Cash In

£45,957

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£85,726

Mortgage (After Refinance)

£64,294

Mortgage LTV

75%

Cash Released

£23,044

Cash Left In

£22,913

Equity

£21,431

Rent Range

£450 - £3,250

Rent Estimate

£867

Running Costs/mo

£461

Cashflow/mo

£406

Cashflow/yr

£4,868

ROI

11%

Gross Yield

19%

Local Sold Prices

23 sold prices from £48.5K to £123.5K, average is £79K. £538/m² to £1.8K/m², average is £1K/m².

PriceDateDistanceAddressBeds 
£80K11/220 mi17, Grange Park Crescent, Bowburn, Durham, County Durham DH6 5BW2
£76K11/200 mi15, Grange Park Crescent, Bowburn, Durham DH6 5BW2
£114K05/230 mi10, Grange Park Crescent, Bowburn, Durham, County Durham DH6 5BW2
£90K05/230 mi9, Grange Park Crescent, Bowburn, Durham, County Durham DH6 5BW2
£58K03/210.18 mi34, Wylam Street, Bowburn, Durham, County Durham DH6 5BD2
£62K01/210.18 mi7, Wylam Street, Bowburn, Durham, County Durham DH6 5BD2
£56K02/210.26 mi27, Durham Road, Bowburn, Durham, County Durham DH6 5AT2
£105K11/200.3 mi77, Lawson Road, Bowburn, Durham DH6 5ED2
£123.5K06/230.3 mi66, Lawson Road, Bowburn, Durham, County Durham DH6 5ED2
£84K02/210.31 mi53, Surtees Avenue, Bowburn, Durham, County Durham DH6 5DZ2
£79K07/230.31 mi51, Surtees Avenue, Bowburn, Durham, County Durham DH6 5DZ2
£55K10/200.34 mi16, Edward Avenue, Bowburn, Durham, County Durham DH6 5EB2
£80K04/230.34 mi24, Burn Street, Bowburn, Durham, County Durham DH6 5AN2
£100K12/220.34 mi5, Burn Street, Bowburn, Durham, County Durham DH6 5AN2
£56K03/210.38 mi13, William Street, Bowburn, Durham, County Durham DH6 5DY2
£70K05/210.38 mi19, William Street, Bowburn, Durham, County Durham DH6 5DY2
£48.5K11/200.54 mi15, Mary Terrace, Bowburn, Durham DH6 5DH2
£100K05/230.58 mi58, Park Avenue, Coxhoe, Durham, County Durham DH6 4JN2
£76K12/220.65 mi73, Park Avenue, Coxhoe, Durham, County Durham DH6 4JJ2
£75K07/230.65 mi43, Park Avenue, Coxhoe, Durham, County Durham DH6 4JJ2
£95K01/230.69 mi91, Park Avenue, Coxhoe, Durham, County Durham DH6 4JJ2
£59K11/200.69 mi4, Parkhill Estate, Coxhoe, Durham, County Durham DH6 4JH2
£105.5K11/200.7 mi26, Grange Way, Bowburn, Durham, County Durham DH6 5PN2

Local Rents

50 rents from £450/mo to £3.3K/mo, average is £715/mo.

RentDateDistanceAddressBeds 
£55012/240.17 miWylam Street, Bowburn, Durham2
£65012/240.23 miSteavenson Street, Bowburn3
£65012/240.25 miDurham Road, Bowburn, Durham, Durham, DH63
£75012/240.26 miCharlton Court, Bowburn, DH63
£80012/240.3 miLawson Road, Bowburn3
£70012/240.32 mi-3
£73012/240.33 miOakfield Crescent, Bowburn, Durham2
£65012/240.34 miBurn Street, Bowburn, County Durham2
£87512/240.36 miLeamside Way, Bowburn3
£90012/240.37 miTilery Close, Bowburn3
£59512/240.38 mi-3
£65002/250.41 mi-3
£52511/240.41 mi-3
£1,50012/240.42 mi-3
£1,10011/240.42 mi-3
£65012/240.43 miGriffiths Court, Bowburn, Durham, DH62
£77512/240.48 miCavell Drive, Bowburn, Durham, DH63
£56312/240.68 miGrange Way - DH63
£75012/240.77 miBell Avenue, Bowburn, Durham, DH63
£79512/240.78 mi21 Henry Avenue, Bowburn, Durham3
£80011/240.79 mi-4
£69512/241.11 miSandgate, Coxhoe, Durham2
£62012/241.14 miCommercial Road West, Coxhoe, Durham1
£62511/241.23 mi-2
£1,00012/241.36 miHett, Durham, DH62
£85012/241.38 miBrowning Hill, Coxhoe, Durham, DH63
£75010/241.53 mi-3
£80010/241.53 mi-3
£75003/251.53 mi-3
£48011/241.54 mi-1
£75012/241.55 miAvenue Street, High Shincliffe, Durham2
£70012/241.55 miThe Avenue, Coxhoe, Durham, Durham, DH62
£65012/241.58 miGrange Way, Bowburn, Durham, DH62
£80012/241.64 miHadleigh Court, Coxhoe2
£1,75012/241.75 miBlue Barn, Old Cassop, Durham5
£59504/241.89 mi-3
£80012/241.89 miMajolica Mews, DH64
£75002/241.93 mi-3
£1,00012/241.94 miEast Street, Hett, Durham, DH63
£58507/241.96 mi-2
£50006/231.99 mi-2
£3,15004/242.06 mi-5
£3,25005/242.06 mi-5
£3,05002/252.06 mi-5
£60010/232.15 mi-2
£60012/242.18 miGlebe Villas, West Cornforth, Ferryhill, Durham, DL173
£55004/242.2 miGlebe Villas, West Cornforth, Ferryhill, Durham, DL172
£55004/242.2 miWindsor Terrace, West Cornforth,2
£45004/242.22 mi-2
£55004/242.25 miWest View, West Cornforth, Ferryhill, DL172

Local Area Statistics

Population in DH6

33,466

Population in Durham

124,445

Town centre distance

3.59 miles away

Nearest school

0.20 miles away

Nearest train station

4 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+11%

Sales demand

Seller's market

Capital growth (5yrs)

+9%

Property History

Listed for £55,000

November 12, 2024

Floor Plans

Description

  • For Sale By Auction +
  • 2 Bedroom Mid Terrace +
  • Requiring Modernisation And Updating +
  • Garden To Front & Garage To Rear +
  • No Chain +
  • Viewing Recommended +

For sale by auction 12 December 2024

The property occupies a pleasant main road position with an open aspect to the front but does require considerable modernisation and updating throughout.

The property itself has accommodation comprising: entrance lobby with stairs to the first floor, lounge with bay window, dining room and kitchen. To the first floor there are two bedrooms and a bathroom. Externally there is a garden to the front of the property, a rear yard with off street parking and a garage over the back lane.

There are a range of local shops and amenities available within Bowburn as well as nearby Coxhoe, with a more comprehensive range of shopping and recreational facilities and amenities available within Durham City Centre which lies approximately 3 miles distant. The road to Durham City passes the University and several colleges. Bowburn is well placed for commuting purposes as it lies a short drive from the A1(M) Motorway Interchange which provides good road links to other regional centres.
Agent notes:
Council Tax band - A
Utilities: Mains gas, electricity, water (metered) and sewerage
Mobile Phone Coverage: Good coverage from all major networks
Broadband Estimated speed:
Standard 17 Mbps
Superfast 76 Mbps
Ultrafast 9000 Mbps
Flood Risk: Rivers & Seas - No Risk, Surface Water – Low
Mining: Please note this property is situated in a former mining area.

Disclaimer 1
None of the services have been tested.
Measurements, where given, are approximate and for descriptive purposes only. Boundaries cannot be guaranteed and must be checked by solicitors prior to exchanging contracts. The details are provided in good faith, are set out as a general guide only and do not constitute any part of a contract. No member of staff has any authority to make or give representation or warranty in relation to this property. For sale by auction see

Disclaimer 2
Each auction property is offered at a guide price and is also subject to a reserve price. The guide price is the level where the bidding will commence. The reserve price is the sellers minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price, which may be up to 10% higher than the guide price, is not disclosed and remains confidential between the seller and the auctioneer. Both the guide price and the reserve price can be subject to change up to and including the day of the auction. The successful buyer pays a £2000+vat (total £2400) Auction Administration Fee. At your request we can refer you to a North East based Solicitor from our panel. It is your decision whether you choose to deal with them, should you decide to use them you should know that we would receive a referral fee of £120 including VAT from them for the recommendation.

Disclaimer 3
Details of the tenure will be available in the legal pack, however we recommend all potential buyers take legal advice and satisfy their requirements prior to purchase.

Agent Details

J W Wood, Durham City

0191 625 0838

Next Steps?

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