2 Bed Terraced House, Cash/Bridging Only, Hull, HU8 8TJ, £45,000

35 Berkshire Street, Hull, East Yorkshire, HU8 8TJ - 3 views - 5 months ago

Sold STC
Cash
ROI: 7%
56 m²
+3 photos

ValuationFair Value

Sold Prices£50K - £150K
Sold Prices/m²£619/m² - £2.3K/m²

 

 

Square Metres

56 m²
Price/m²£804/m²

Value Estimate

£45,450

 

 

End Value (After Refurb)

£81,593

Uplift in Value

+81%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£11,250

Stamp Duty & Legal Fees

£2,550

Refurb Costs

£22,364

Bridging Loan Interest

£1,181

Total Cash In

£39,095

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£81,593

Mortgage (After Refinance)

£61,195

Mortgage LTV

75%

Cash Released

£27,445

Cash Left In

£11,650

Equity

£20,398

Rent Range

£417 - £1,070

Rent Estimate

£623

Running Costs/mo

£400

Cashflow/mo

£223

Cashflow/yr

£2,681

ROI

7%

Gross Yield

17%

Local Sold Prices

50 sold prices from £50K to £150K, average is £95K. £619/m² to £2.3K/m², average is £1.1K/m².

PriceDateDistanceAddressBeds 
£50K05/210.01 mi13, Berkshire Street, Hull, City Of Kingston Upon Hull HU8 8TJ2
£61K12/200.01 mi9, Berkshire Street, Hull, Humberside HU8 8TJ2
£65K03/230.06 mi177, Buckingham Street, Hull, City Of Kingston Upon Hull HU8 8TL2
£77K12/220.06 mi148, Buckingham Street, Hull, City Of Kingston Upon Hull HU8 8TL2
£77K05/210.07 mi124, Severn Street, Hull, City Of Kingston Upon Hull HU8 8TH2
£77.5K03/210.1 mi50, Endymion Street, Hull, City Of Kingston Upon Hull HU8 8TY2
£80K11/200.1 mi127, Durham Street, Hull, City Of Kingston Upon Hull HU8 8RQ2
£110K03/230.11 mi107, Barnsley Street, Hull, City Of Kingston Upon Hull HU8 7SF2
£128.5K03/210.11 mi48, Beech Avenue, Garden Village, Hull, City Of Kingston Upon Hull HU8 8QJ2
£72.5K02/210.13 mi127, Barnsley Street, Hull, City Of Kingston Upon Hull HU8 7SA2
£71K06/210.16 mi64, Severn Street, Hull, City Of Kingston Upon Hull HU8 8TQ2
£106.5K02/210.19 mi39, James Reckitt Avenue, Hull, City Of Kingston Upon Hull HU8 7TH2
£145K10/210.2 mi149, James Reckitt Avenue, Hull, City Of Kingston Upon Hull HU8 7TJ2
£88.5K06/230.24 mi38, Mersey Street, Hull, City Of Kingston Upon Hull HU8 8SG2
£50K09/210.24 mi13, Montrose Street, Hull, City Of Kingston Upon Hull HU8 7RU2
£117.5K08/210.24 mi44, Jalland Street, Hull, City Of Kingston Upon Hull HU8 8RB2
£120K08/210.27 mi4, Simpson Avenue, Hull, City Of Kingston Upon Hull HU8 8AS2
£111K03/210.32 mi160, James Reckitt Avenue, Hull, City Of Kingston Upon Hull HU8 7TN2
£135K12/200.32 mi172, James Reckitt Avenue, Hull, City Of Kingston Upon Hull HU8 7TN2
£131K11/200.35 mi19, Bibury Close, Hull, City Of Kingston Upon Hull HU8 8HQ2
£64K11/200.38 mi44, Holland Street, Hull, City Of Kingston Upon Hull HU9 2JB2
£107K03/230.39 mi11, Wordsworth Street, Hull, City Of Kingston Upon Hull HU8 8LT2
£107.5K03/230.39 mi73, Woodhall Street, Hull, City Of Kingston Upon Hull HU8 8DU2
£90K08/210.39 mi73, Woodhall Street, Hull, City Of Kingston Upon Hull HU8 8DU2
£52K03/210.4 mi2, Dene Street, Hull, City Of Kingston Upon Hull HU9 2LX2
£125K11/200.42 mi35, Ashendon Drive, Hull, City Of Kingston Upon Hull HU8 8DY2
£107K03/210.43 mi18, Woodhall Street, Hull, City Of Kingston Upon Hull HU8 8DS2
£106K01/210.45 mi113, Lee Street, Hull, City Of Kingston Upon Hull HU8 8NW2
£97K04/210.45 mi123, Lee Street, Hull, City Of Kingston Upon Hull HU8 8NW2
£96K02/230.46 mi71, Victor Street, Hull, City Of Kingston Upon Hull HU9 2EX2
£103K02/230.46 mi123, Lee Street, Hull, City Of Kingston Upon Hull HU8 8NW2
£150K09/210.49 mi11, Dornoch Drive, Hull, City Of Kingston Upon Hull HU8 8JL2
£115K04/210.49 mi32, Dornoch Drive, Hull, City Of Kingston Upon Hull HU8 8JL2
£67K08/230.49 mi4, Kirkstead Street, Hull, City Of Kingston Upon Hull HU8 8DR2
£128K03/230.5 mi22, Brendon Avenue, Hull, City Of Kingston Upon Hull HU8 8JE2
£65K08/210.5 mi7, Kathleen Road, Hull, City Of Kingston Upon Hull HU8 8EB2
£67.5K11/200.51 mi65, New Bridge Road, Hull, Humberside HU9 2RB2
£55.9K03/230.52 mi80, Wynburg Street, Hull, City Of Kingston Upon Hull HU9 2PB2
£95K04/210.53 mi15, Camborne Grove, Hull, City Of Kingston Upon Hull HU8 8HX2
£126K06/230.53 mi14, James Niven Court, Hull, City Of Kingston Upon Hull HU9 3AQ2
£95K10/210.53 mi97, Steynburg Street, Hull, City Of Kingston Upon Hull HU9 2PE2
£75K03/210.53 mi97, Steynburg Street, Hull, City Of Kingston Upon Hull HU9 2PE2
£80K09/210.53 mi49, Steynburg Street, Hull, City Of Kingston Upon Hull HU9 2PE2
£80K02/230.54 mi57, Steynburg Street, Hull, City Of Kingston Upon Hull HU9 2PE2
£65K05/230.55 mi25, Rosmead Street, Hull, City Of Kingston Upon Hull HU9 2TG2
£77K04/230.55 mi15, Rosmead Street, Hull, City Of Kingston Upon Hull HU9 2TG2
£112K02/210.56 mi54, Rockford Avenue, Hull, City Of Kingston Upon Hull HU8 8JB2
£103.3K06/210.56 mi79, Brendon Avenue, Hull, City Of Kingston Upon Hull HU8 8JF2
£103.3K06/210.56 mi79, Brendon Avenue, Hull, City Of Kingston Upon Hull HU8 8JF2
£80K01/230.56 mi21, Middleburg Street, Hull, City Of Kingston Upon Hull HU9 2QN2

Local Rents

50 rents from £417/mo to £1.1K/mo, average is £595/mo.

RentDateDistanceAddressBeds 
£1,07004/250.03 mi-2
£59512/240.04 mi-2
£59502/250.04 mi-2
£75006/240.06 miBuckingham Street, HULL2
£62506/240.06 miSevern Street, Hull2
£59504/240.07 miBuckingham Street, Hull, HU82
£59505/240.07 mi-2
£59505/240.07 mi-2
£57505/240.07 miSevern Street, HULL2
£55004/240.07 mi-2
£60012/240.07 mi-2
£55002/240.07 mi-2
£55003/250.07 mi-2
£57504/240.07 miAlaska Street, Hull, East Riding of Yorkshi, HU82
£55004/240.08 mi-2
£62505/240.09 miEndymion Street, Hull2
£55005/240.09 miEast Ridings Of Yorkshire, East Ridings Of Yorkshire, HU82
£55006/240.09 mi-2
£77502/250.09 mi-2
£79504/250.09 mi-2
£56502/240.1 mi-2
£59506/240.1 miEddlethorpe, Buckingham Street, Hull2
£72504/250.1 mi-2
£59501/240.13 mi-2
£59502/240.13 mi-2
£55005/240.15 miEndymion Street, Hull2
£64005/240.17 mi-2
£57509/240.18 mi-2
£64004/250.18 mi-2
£64005/240.19 mi-2
£64001/250.21 mi-2
£64003/250.21 mi-2
£65004/250.23 mi-2
£50001/240.24 mi-2
£59505/240.26 miDamson Lane North, Garden Village, Hull, HU8 7RR2
£90004/250.27 mi-2
£55005/240.27 miDansom Lane North, HULL2
£41704/240.36 mi-2
£62505/240.4 miJesmond Gardens, Hull2
£62503/250.4 mi-2
£54504/240.41 mi-2
£60001/250.42 mi-2
£75005/240.43 miAshendon Drive, Hull2
£57505/240.45 miFlat 1, 27-29 Westcott Street, Hull, HU8 8LR2
£55004/240.45 miMables Villas, Holland Street, Hull2
£55004/240.46 miMables Villas, Holland Street, Hull, HU92
£65002/240.46 mi-2
£70012/240.46 mi-2
£75004/250.46 mi-2
£59502/250.46 mi-2

Local Area Statistics

Population in HU8

34,175

Population in Hull

313,622

Town centre distance

1.75 miles away

Nearest school

0.10 miles away

Nearest train station

1.58 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

-4%

Sales demand

Seller's market

Capital growth (5yrs)

+16%

Property History

Listed for £45,000

November 19, 2024

Floor Plans

Description

  • Two Bedroom Mid Terrace House +
  • Requires a Scheme of Improvements Throughout +
  • Offered For Sale with No Forward Chain +
  • Entrance into Lounge +
  • Dining Area into Kitchen +
  • Rear Lobby with access to Ground Floor Bathroom +
  • First Floor with Two Bedrooms +
  • Front Forecourt and Rear Yard Area +
  • Part Double Glazing +
  • Gas Fired Central Heating System (not tested) +

Two bedroom mid terrace house, ideally suited to the cash buyer. Requiring a scheme of improvements throughout the accommodation comprises:- Entrance into lounge, dining area which opens into the kitchen area. Rear lobby with access to ground floor bathroom. On the first floor can be found the two bedrooms. Small front forecourt and rear yard area. Gas fired central heating system (not tested) and part double glazing. Viewing via Leonards.

Location - Located off Buckingham Street and Mersey Street with local amenities/convivence store nearby. A wider facilities are available along Holderness Road and the Mount Pleasant retail park is within a short drive.

Entrance Into Lounge - 3.409m x 3.735m + bay (11'2" x 12'3" + bay) - Main front entrance door provides access into the property and lounge area. Window to the front elevation, radiator and fire surround with fire (not tested/unsure if working).

Dining Area - 2.622m x 2.350m (8'7" x 7'8") - Stairs lead off to the first floor accommodation with under stairs cupboard, part panelled walls and open plan access into:

Kitchen Area - 3.052m x 1.980m (10'0" x 6'5") - Containing a single drainer sink unit, base cupboards. Window to the rear elevation and radiator.

Rear Lobby - Side entrance door.

Ground Floor Bathroom - 1.661m x 1.992m (5'5" x 6'6") - Suite of bath, basin and WC. Window to the side elevation (broken) and radiator.

First Floor - Access to roof void, small window to the rear elevation and access into the bedrooms off.

Bedroom One - 3.050m x 2.889m (10'0" x 9'5") - Window to the front elevation, radiator, feature fireplace and wardrobes.

Bedroom Two - 2.583m x 3.196m (8'5" x 10'5") - Window to the rear elevation, radiator and wall mounted gas fired central heating boiler (not tested).

Outside - Small forecourt and rear yard area.

Energy Performance Certificate - The current energy rating on the property is D (67).

Mortgage Advice - UK Moneyman Limited is now Leonards preferred partner to offer independent mortgage advice for the purchase of this or any other residential property. As a reputable Licensed credit broker, UK Moneyman will carry out a comprehensive search of a wide range of mortgage offers tailored to suit your particular circumstances, with the aim of saving you both time and money. Customers will receive a free mortgage appointment with a qualified Advisor. Written quotations on request. Call us today on or visit our website to arrange your free, no obligation mortgage appointment. We may receive a fee if you use UK Moneyman Limited’s services. Your home is at risk if you do not keep up repayments on a mortgage or other loan secured on it.

Agents Note - This property is being sold subject to probate.

Purchaser Outgoings - From internet enquiries with the Valuation Office website the property has been placed in Band A for Council Tax purposes. Local Authority Reference Number B. Prospective buyers should check this information before making any commitment to take up a purchase of the property.

Referral Fees - As part of our service, we often recommend buyers and sellers to our local conveyancing providers, namely Jane Brooks Law, Graham & Rosen and Brewer Wallace whereby we will obtain from them on your behalf a quotation. It is at your discretion whether you choose to engage the services of the provider that we recommend. Should you do so, you should know that we would expect to receive from them a referral fee of £104.17 + VAT (£125.00 including VAT) from Jane Brooks Law or £104.17 + VAT (£125 including VAT) from Graham & Rosen or £100.00 +VAT (£120.00 including VAT) from Brewer Wallace for each successful completion transaction for recommending you to them. We will also have a mortgage referral arrangement with Hull Moneyman for which we will receive a fee based on the procuration fee they receive. We also receive a referral fee for survey instructions passed to Graham Gibbs Associates of £20 + VAT (£24 including VAT).

Services - The mains services of water, gas and electric are connected. None of the services or appliances including boilers, fires and any room heaters have not been tested.

For mobile/broadband coverage, prospective occupants are advised to check the Ofcom website:-

Tenure - The tenure of this property is currently unregistered at the land registry.

Viewings - Strictly through the sole agents Leonards /

Free Sales Market Appraisal/Valuation - Thinking of selling your house, or presently on the market and not yet achieved a sale or the level of interest you expected*? Then why not contact Leonards for a free independent market appraisal for the sale of your property? We have many years of experience and a proven track record in the selling of properties throughout the city of Hull and the East Riding of Yorkshire. *Where your property is presently being marketed by another agent, please check you agency agreement for any early termination costs or charges which may apply.

Agent Details

Leonards, Hull

01482 425028

Next Steps?

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