2 Bed Terraced House, Refurb/BRRR, DH9 7NJ, £75,000

49 Spen Street, Stanley, Durham, DH9 7NJ - 7 views - 5 months ago

Sold STC
Refurb/BRRR
Negative Equity
ROI: 3%
83 m²
+6 photos

ValuationOvervalued

Sold Prices£24.5K - £115K
Sold Prices/m²£340/m² - £2.4K/m²

 

 

Square Metres

83 m²
Price/m²£904/m²

Value Estimate

£65,912

 

 

End Value (After Refurb)

£80,559

Uplift in Value

+7%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£18,750

Stamp Duty & Legal Fees

£3,450

Refurb Costs

£32,014

Bridging Loan Interest

£1,969

Total Cash In

£57,933

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£80,559

Mortgage (After Refinance)

£60,419

Mortgage LTV

75%

Cash Released

£4,169

Cash Left In

£53,764

Equity

£20,140

Rent Range

£420 - £600

Rent Estimate

£538

Running Costs/mo

£379

Cashflow/mo

£159

Cashflow/yr

£1,904

ROI

3%

Gross Yield

9%

Local Sold Prices

50 sold prices from £24.5K to £115K, average is £63.3K. £340/m² to £2.4K/m², average is £820/m².

PriceDateDistanceAddressBeds 
£35K11/200.02 mi10, Spen Street, Stanley, Durham DH9 7NJ2
£63.5K01/230.04 mi44, Spen Street, Stanley, County Durham DH9 7NJ2
£63K12/220.04 mi2, Garden Terrace, Stanley, County Durham DH9 7NP2
£70K08/210.1 mi1, Joseph Street, Stanley, Durham DH9 7NS2
£77.5K06/230.1 mi5, Joseph Street, Stanley, County Durham DH9 7NS2
£50K11/200.11 mi24, Joseph Street, Stanley, Durham DH9 7NS2
£73.5K02/230.16 mi79, Eastfields, Stanley, County Durham DH9 7DN2
£62K01/210.16 mi89, Eastfields, Stanley, Durham DH9 7DN2
£63K03/230.17 mi82, Eastfields, Stanley, County Durham DH9 7DN2
£78K12/200.17 mi27, Wansbeck Avenue, Stanley, County Durham DH9 6HS2
£83K11/200.19 mi26, Wansbeck Avenue, Stanley, Durham DH9 6HY2
£81.8K02/230.2 mi9, Evelyn Terrace, Stanley, County Durham DH9 7RN2
£97.5K11/220.22 mi14, Wansbeck Avenue, Stanley, County Durham DH9 6HR2
£68K02/230.22 mi8, Wansbeck Avenue, Stanley, County Durham DH9 6HR2
£72K11/210.23 mi33, Tyne Road East, Stanley, Durham DH9 6NF2
£72.5K06/230.25 mi2, Valley Close, South Stanley, Stanley, County Durham DH9 6HQ2
£70K02/230.28 mi53, Wear Road, Stanley, County Durham DH9 6HL2
£66K02/210.28 mi51, Wear Road, Stanley, County Durham DH9 6HL2
£48.3K12/200.28 mi26, Tweed Terrace, Stanley, Durham DH9 6JN2
£86K03/230.28 mi24, Tweed Terrace, Stanley, County Durham DH9 6JN2
£87.5K04/230.29 mi20, Constable Close, Stanley, County Durham DH9 6TE2
£49K01/210.3 mi19, Standish Street, Stanley, County Durham DH9 7AD2
£65K08/210.32 mi3, South Field Court, South Stanley, Stanley, County Durham DH9 7BX2
£83K11/210.35 mi72, Orwell Gardens, Stanley, Durham DH9 6QA2
£75K11/200.35 mi72, Orwell Gardens, Stanley, Durham DH9 6QA2
£98K01/230.35 mi39, Orwell Gardens, Stanley, County Durham DH9 6QA2
£115K11/200.36 mi30, Pea Road, Stanley, County Durham DH9 7RG2
£55K03/230.37 mi6, Bircham Street, Stanley, County Durham DH9 7AE2
£54K02/230.37 mi26, Rose Avenue, Stanley, County Durham DH9 7RB2
£64K05/230.38 mi37, School Terrace, Stanley, County Durham DH9 7QN2
£55K02/210.4 mi13, Coquet Gardens, Stanley, Durham DH9 7PN2
£45K04/210.42 mi36, Fern Avenue, Stanley, Durham DH9 7QY2
£36K10/210.42 mi30, Fern Avenue, Stanley, County Durham DH9 7QY2
£54K02/230.42 mi23, Fern Avenue, Stanley, County Durham DH9 7QY2
£40K11/200.42 mi10, Fern Avenue, Stanley, County Durham DH9 7QY2
£60K03/210.42 mi29, Waveney Gardens, Stanley, Durham DH9 7NG2
£53K07/210.44 mi57, Southfields, Stanley, County Durham DH9 7PG2
£71.5K03/210.47 mi4, Engels Terrace, Stanley, County Durham DH9 6QG2
£62.5K11/200.48 mi11, Walton Close, Stanley, Durham DH9 6TH2
£77K06/210.49 mi48, Southfields, Stanley, Durham DH9 7PQ2
£32.8K01/210.49 mi107, John Street, Beamish, Stanley, County Durham DH9 0QP2
£52K07/210.51 mi25, William Street, South Moor, Stanley, Durham DH9 7BJ2
£24.5K01/210.51 mi17, William Street, South Moor, Stanley, Durham DH9 7BJ2
£45K06/230.52 mi6, John Street, South Moor, Stanley, County Durham DH9 7BG2
£63K08/210.53 mi18, Coates Close, Stanley, Durham DH9 6XA2
£80K04/230.57 mi37, Ridley Street, Stanley, County Durham DH9 0PD2
£56K02/210.57 mi28, Ridley Street, Stanley, Durham DH9 0PD2
£52K08/210.59 mi46, Mitchell Street, South Moor, Stanley, Durham DH9 7BQ2
£66K06/230.59 mi2, West View Gardens, Stanley, County Durham DH9 8AR2
£35.5K12/200.61 mi3, Elm Street, South Moor, Stanley, Durham DH9 7EA2

Local Rents

17 rents from £420/mo to £600/mo, average is £550/mo.

RentDateDistanceAddressBeds 
£57512/240.15 miWear Road, Stanley, County Durham, DH92
£55012/240.33 miBircham Street, South Moor, Stanley, DH92
£60012/240.34 miOrwell Gardens, Stanley, Durham, DH92
£42012/240.34 miPark Road, Stanley, County Durham, DH92
£53502/250.39 mi-2
£55012/240.4 miOliver Street, Stanley, Durham, DH9 7AQ2
£50003/250.41 mi-2
£45001/250.42 mi-2
£59512/240.43 miBelle Street, Stanley, DH92
£55002/250.47 mi-2
£59512/240.48 miHollyhill Gardens, Stanley, DH92
£57512/240.53 miChurch Street, Stanley, County Durham, DH92
£55004/250.55 mi-2
£55012/240.55 miPoplar Street, Stanley, County Durham, DH92
£50001/250.6 mi-2
£42512/240.61 mi-2
£52512/240.62 mi-2

Local Area Statistics

Population in DH9

36,673

Nearest school

0.20 miles away

Nearest train station

4.93 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+3%

Sales demand

Seller's market

Capital growth (5yrs)

+8%

Property History

Listed for £75,000

-7%

November 23, 2024

Sold for £80,000

2008

Sold for £34,000

2004

Floor Plans

Description

  • Renovated Throughout +
  • Mid Terrace Home +
  • Updated Kitchen +
  • Contemparary Bathroom +
  • Neutrally Decorated Throughout +
  • Off-Street Parking in Rear Yard. +

This recently renovated mid-terrace property provides turnkey accommodation with no forward chain and is situated a short distance from Stanley Town Centre.

Having seen a recent schedule of modernisation including a new kitchen, new bathroom, skimmed walls and decoration. The property is gas centrally heated via a combination boiler, is double glazed, and briefly comprises a lounge, a refitted kitchen with built-in cooking appliances, two double bedrooms, and a refitted bathroom with a white suite. There is a yard to the rear providing off-street parking. Ideally suited to Buy-to-Let investors and First-Time-Buyers.

EPC Grade = D
Council Tax Band = A

Spen Street is situated just off Tyne Road which is a short walk to Stanley town center with its shops and facilities, primary schools and the North Durham Academy are also within walking distance.

Agents Notes
Tenure: Freehold
Utilities: Mains electricity, gas, water (metered) & drainage.
Flood Risk: Rivers & Seas = No Risk / Surface Water = Very Low.
Mobile Coverage is Good via O2, Average via EE, Three & Vodaphone.
Satellite & Cable TV availability: BT, Sky & Virgin.
Broadband Estimated Speeds: Standard (17mbps), Superfast (80mbps), Ultrafast (1139mbps).
Restrictive Covenants Apply - Enquire with agent.
Situated within a Former Mining Area.
Selective Licensing Area = Yes.

Agent Details

J W Wood, Chester Le Street

0191 625 0107

Next Steps?

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