2 Bed Flat, Refurb/BRRR, Middlesbrough, TS5 6JA, £40,000

Park Road South, Middlesbrough, North Yorkshire, TS5 6JA - 43 views - 4 months ago

Leasehold

Refurb/BRRR

ROI: 10%

~68 m²

+3 photos

ValuationFair Value

Sold Prices	£50K - £134K
Sold Prices/m²	£747/m² - £2K/m²

Square Metres	~68.11 m²
Price/m²	£587/m²
Value Estimate	£40,000£40,000

End Value (After Refurb)	£77,689£77,689
Uplift in Value	+94%+94%

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£10,000£10,000
Stamp Duty & Legal Fees	£1,200£1,200
Refurb Costs	£26,876£26,876
Bridging Loan Interest	£1,050£1,050
Total Cash In	£40,876£40,876

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£77,689£77,689
Mortgage (After Refinance)	£58,267£58,267
Mortgage LTV	75%75%
Cash Released	£28,267£28,267
Cash Left In	£12,609£12,609
Equity	£19,422£19,422
Rent Range	£433 - £3,900£433 - £3,900
Rent Estimate	£735
Running Costs/mo	£410£410
Cashflow/mo	£325£325
Cashflow/yr	£3,903£3,903
ROI	10%10%
Gross Yield	22%22%

Local Sold Prices

25 sold prices from £50K to £134K, average is £80K. £747/m² to £2K/m², average is £1.3K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£127.5K	08/22	0.34 mi	8, Belgravia Gardens, Middlesbrough TS5 6NZ	£1,992	64	2	Flat
£134K	02/23	0.34 mi	11, Belgravia Gardens, Middlesbrough TS5 6NZ	£1,648	81	2	Flat
£112K	04/23	0.34 mi	10, Belgravia Gardens, Middlesbrough TS5 6NZ	-	-	2	Flat
£120K	03/23	0.35 mi	4, Belgravia Gardens, Middlesbrough TS5 6NZ	-	-	2	Flat
£71K	12/20	0.37 mi	31, Gresham Road, Middlesbrough TS1 4LU	£1,183	60	2	Flat
£63K	04/23	0.38 mi	25, Camsell Court, Middlesbrough TS5 5BE	-	-	2	Flat
£70K	07/23	0.38 mi	15, Camsell Court, Middlesbrough TS5 5BE	£1,296	54	2	Flat
£64.8K	10/22	0.46 mi	10, The Potteries, Middlesbrough TS5 6DQ	£830	78	2	Flat
£67.5K	10/21	0.47 mi	6, Clough Close, Middlesbrough TS5 5DW	£1,071	63	2	Flat
£59K	10/20	0.47 mi	21, Clough Close, Middlesbrough TS5 5DW	£844	70	2	Flat
£60K	03/23	0.47 mi	33, Clough Close, Middlesbrough TS5 5DW	£1,091	55	2	Flat
£70K	11/23	0.47 mi	31, Clough Close, Middlesbrough TS5 5DW	£1,346	52	2	Flat
£65K	09/22	0.5 mi	65, Roman Road, Middlesbrough TS5 5PH	£747	87	2	Flat
£76K	06/21	0.59 mi	14, Dorman Gardens, Linthorpe, Middlesbrough TS5 5DS	£1,310	58	2	Flat
£80K	07/23	0.59 mi	19, Dorman Gardens, Linthorpe, Middlesbrough TS5 5DS	-	-	2	Flat
£84K	01/23	0.59 mi	70, Dorman Gardens, Linthorpe, Middlesbrough TS5 5DS	£1,556	54	2	Flat
£50K	05/22	0.71 mi	8, Teare Close, Middlesbrough TS1 5ND	£794	63	2	Flat
£90K	08/23	0.71 mi	9, Oriel Close, Middlesbrough TS5 5NJ	-	-	2	Flat
£82K	11/21	0.83 mi	18, Bayberry Mews, Middlesbrough TS5 7RG	£1,464	56	2	Flat
£82K	08/21	0.83 mi	16, Bayberry Mews, Middlesbrough TS5 7RG	£1,579	52	2	Flat
£85K	01/23	0.83 mi	16, Bayberry Mews, Middlesbrough TS5 7RG	£1,637	52	2	Flat
£85K	02/24	0.83 mi	12, Bayberry Mews, Middlesbrough TS5 7RG	£1,667	51	2	Flat
£59K	02/22	0.87 mi	40, Elder Court, Middlesbrough TS1 2SJ	£922	64	2	Flat
£95K	01/21	0.99 mi	49, Stanhope Grove, Middlesbrough TS5 7SF	£1,508	63	2	Flat
£95K	01/21	0.99 mi	47, Stanhope Grove, Middlesbrough TS5 7SF	£1,610	59	2	Flat

Local Rents

40 rents from £433/mo to £3.9K/mo, average is £650/mo.

Rent	Date	Distance	Address	Beds	Type
£650	12/24	0.1 mi	-	2	Terraced House
£650	02/24	0.12 mi	-	2	Terraced House
£595	10/24	0.12 mi	Caxton Street, Middlesbrough	2	Terraced House
£675	03/25	0.14 mi	-	2	Flat
£750	10/24	0.15 mi	-	2	Terraced House
£700	11/24	0.15 mi	-	2	Terraced House
£600	11/24	0.15 mi	-	2	Terraced House
£625	02/25	0.17 mi	-	2	Flat
£500	10/24	0.18 mi	Brompton Street, Middlesbrough, North Yorkshire, TS5	2	Terraced House
£895	10/24	0.2 mi	-	2	Terraced House
£650	12/24	0.22 mi	-	2	Flat
£650	04/25	0.22 mi	-	2	Flat
£780	03/25	0.24 mi	-	2	Terraced House
£800	01/25	0.28 mi	-	2	Terraced House
£700	10/24	0.28 mi	The Avenue, Middlesbrough, TS5	2	Flat
£700	10/24	0.28 mi	-	2	Flat
£650	03/25	0.33 mi	-	2	Terraced House
£725	02/25	0.35 mi	-	2	Flat
£600	10/24	0.39 mi	-	2	Terraced House
£650	10/24	0.39 mi	Park Lane, Middlesbrough, TS1	2	Terraced House
£563	10/24	0.4 mi	2 Bed Apartment On Wilton Street	2	Flat
£625	10/24	0.41 mi	Essex Street, Middlesbrough	2	Flat
£500	10/24	0.44 mi	Surrey Street, Middlesbrough, TS1 4QA	2	Terraced House
£575	01/25	0.44 mi	-	2	Terraced House
£625	10/24	0.45 mi	Clough Close, Middlesbrough, North Yorkshire, TS5 5DW	2	Flat
£433	10/24	0.46 mi	Woodlands Road, Middlesbrough, North Yorkshire, TS1	2	Flat
£433	10/24	0.46 mi	Woodlands Road, Middlesbrough, North Yorkshire, TS1	2	Flat
£800	03/25	0.46 mi	-	2	Flat
£650	10/24	0.47 mi	-	2	Terraced House
£600	10/24	0.49 mi	-	2	Terraced House
£650	10/24	0.54 mi	Dorman Gardens, Middlesbrough, Cleveland, TS5	2	Flat
£700	01/25	0.54 mi	-	2	Terraced House
£700	10/24	0.56 mi	15 Wentworth Street, Middlesbrough, North Yorkshire, TS1	2	Flat
£500	10/24	0.56 mi	Longford Street, Middlesbrough, TS1 4RR	2	Flat
£750	10/24	0.56 mi	18 Waverley Street, Middlesbrough, North Yorkshire, TS1	2	Flat
£700	03/25	0.57 mi	-	2	Terraced House
£650	01/25	0.58 mi	-	2	Semi-Detached House
£475	10/24	0.58 mi	Union Street, Middlesbrough, North Yorkshire, TS1	2	Flat
£3,900	10/24	0.6 mi	Union Street, Middlesbrough, North Yorkshire, TS1	2	Flat
£450	10/24	0.6 mi	Union Street, Middlesbrough, North Yorkshire, TS1	2	Flat

Local Area Statistics

Population in TS5	39,38739,387
Population in Middlesbrough	189,245189,245
Town centre distance	2.13 miles away2.13 miles away
Nearest school	0.30 miles away0.30 miles away
Nearest train station	1.15 miles away1.15 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+10%+10%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+11%+11%

Property History

Listed for £40,000

November 18, 2024

Floor Plans

Description

A Two double bedroom ground floor apartment on this popular development situated next to Albert Park. In brief the property comprises of a living area, kitchen, two double bedrooms, family bathroom with shower over bath. This property is in need of a full refurb which is reflected in the price but offers huge potential to first time buyers or investors.