2 Bed Bungalow, Refurb/BRRR, Chester-le-Street, DH2 3DW, £240,000

Coniston Close, Garden Farm, Chester le Street, DH2 3DW - 1 views - 5 months ago

Sold STC
Refurb/BRRR
~68 m²
+19 photos

ValuationOvervalued

Sold Prices£50K - £235K
Sold Prices/m²£852/m² - £3.5K/m²

 

 

Square Metres

~68.11 m²
Price/m²£3.5K/m²

Value Estimate

£89,142

 

 

End Value (After Refurb)

£205,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£60,000

Stamp Duty & Legal Fees

£15,500

Refurb Costs

£26,155

Bridging Loan Interest

£6,300

Total Cash In

£109,705

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£205,000

Mortgage (After Refinance)

£153,750

Mortgage LTV

75%

Cash Left In

£109,705

Equity

£51,250

Rent Range

£450 - £1,275

Rent Estimate

£676

Running Costs/mo

£796

Cashflow/mo

£-120

Cashflow/yr

£-1,438

Gross Yield

3%

Local Sold Prices

50 sold prices from £50K to £235K, average is £96.5K. £852/m² to £3.5K/m², average is £1.4K/m².

PriceDateDistanceAddressBeds 
£85K11/200.06 mi30, Clifford Terrace, Chester Le Street, County Durham DH3 3JN2
£95K01/230.08 mi3, Ripon Street, Chester Le Street, County Durham DH3 3JR2
£65K04/210.09 mi18, Clifford Terrace, Chester Le Street, County Durham DH3 3JN2
£65K04/210.09 mi18, Clifford Terrace, Chester Le Street, County Durham DH3 3JN2
£118K02/210.09 mi13, Orchard Terrace, Chester Le Street, County Durham DH3 3JU2
£178.4K03/230.09 mi14, Orchard Terrace, Chester Le Street, County Durham DH3 3JU2
£70K02/210.09 mi27, Clifford Terrace, Chester Le Street, County Durham DH3 3JN2
£90K04/230.09 mi2, Wark Street, Chester Le Street, County Durham DH3 3JP2
£78K03/230.12 mi16, Allen Street, Chester Le Street, County Durham DH3 3JG2
£87K04/230.12 mi27, Allen Street, Chester Le Street, County Durham DH3 3JG2
£152.5K06/210.12 mi1, Katrine Close, Chester Le Street, County Durham DH2 3EF2
£138K10/200.13 mi25, Grasmere Road, Chester Le Street, County Durham DH2 3DL2
£169.9K06/210.13 mi25, Grasmere Road, Chester Le Street, County Durham DH2 3DL2
£75K03/230.13 mi8, Baden Street, Chester Le Street, County Durham DH3 3JQ2
£80K12/220.14 mi7, Clifford Street, Chester Le Street, County Durham DH3 3JW2
£80.5K01/210.14 mi34, Clifford Street, Chester Le Street, County Durham DH3 3JW2
£90K02/230.14 mi16, Baden Street, Chester Le Street, County Durham DH3 3JQ2
£83.5K12/220.15 mi15, Baden Street, Chester Le Street, County Durham DH3 3JQ2
£165K03/230.17 mi20, Thirlmere Avenue, Chester Le Street, County Durham DH2 3ED2
£132.5K04/210.17 mi17, Thirlmere Avenue, Chester Le Street, Durham DH2 3ED2
£160K03/210.2 mi72, Rydal Road, Chester Le Street, County Durham DH2 3DT2
£205K11/210.2 mi2, Caragh Road, Chester Le Street, County Durham DH2 3EA2
£81K03/210.21 mi11, Ernest Terrace, Chester Le Street, Durham DH3 3HR2
£143K04/230.22 mi11, Jolliffe Street, Chester Le Street, County Durham DH3 3LX2
£235K03/230.22 mi7, Caragh Road, Chester Le Street, County Durham DH2 3EA2
£79K11/200.25 mi5, Hemel Street, Chester Le Street, Durham DH3 3HP2
£116K11/200.25 mi21, Ashton Rise, Chester Le Street, Durham DH2 2JA2
£131K11/200.25 mi3, Ashton Rise, Chester Le Street, Durham DH2 2JA2
£120K06/230.26 mi14, Weldon Terrace, Chester Le Street, County Durham DH3 3NG2
£140K05/210.27 mi16, George Street, Chester Le Street, Durham DH3 3NE2
£65K01/210.27 mi6, Adelaide Street, Chester Le Street, County Durham DH3 3HY2
£91.5K05/230.31 mi20, Lambton Street, Chester Le Street, County Durham DH3 3NH2
£195K11/200.31 mi20, Elvet Green, Chester Le Street, County Durham DH2 2ER2
£65K01/230.32 mi6, Finchdale Terrace, Chester Le Street, County Durham DH3 3DL2
£197K02/230.33 mi69, Grasmere Road, Chester Le Street, County Durham DH2 3EU2
£68K08/210.34 mi17, Pine Street, Chester Le Street, County Durham DH3 3DW2
£77K01/210.34 mi26, Gray Avenue, Chester Le Street, Durham DH2 2EL2
£137K03/210.35 mi1, Esthwaite Avenue, Chester Le Street, County Durham DH2 3HA2
£192K12/200.35 mi2, Esthwaite Avenue, Chester Le Street, Durham DH2 3HA2
£58K06/210.35 mi23, Victor Street, Chester Le Street, Durham DH3 3DP2
£50K05/230.35 mi10, Victor Street, Chester Le Street, County Durham DH3 3DP2
£90K02/230.35 mi5, Gray Avenue, Chester Le Street, County Durham DH2 2EL2
£85K03/230.35 mi22, Gray Avenue, Chester Le Street, County Durham DH2 2EL2
£98K04/230.36 mi9, Clarence Terrace, Chester Le Street, County Durham DH3 3DG2
£125K10/210.37 mi1, Castle Riggs, Chester Le Street, Durham DH2 2DL2
£157K11/200.37 mi83, Grasmere Road, Chester Le Street, County Durham DH2 3EU2
£125K07/230.43 mi73, Lancaster Terrace, Chester Le Street, County Durham DH3 3NP2
£120K01/210.43 mi73, Lancaster Terrace, Chester Le Street, Durham DH3 3NP2
£113K03/230.43 mi40, Lancaster Terrace, Chester Le Street, County Durham DH3 3NP2
£60K02/210.43 mi6, Elm Street, Chester Le Street, County Durham DH3 3EA2

Local Rents

16 rents from £450/mo to £1.3K/mo, average is £650/mo.

RentDateDistanceAddressBeds 
£69512/240.08 miOrchard Terrace, Chester Le Street, DH32
£59512/240.12 miAllen Street, Chester-le-Street, County Durham2
£62504/250.12 mi-2
£59512/240.16 miRobertson Court, Chester Le Street, Durham, DH32
£59512/240.19 miJolliffe Street, Chester Le Street, Dh32
£72509/230.2 mi-2
£65012/240.29 mi-2
£45012/240.33 miPoplar Street, Chester Le Street, Durham, DH32
£75012/240.4 miCentral Exchange, Chester le Street2
£67008/240.4 mi-2
£65004/250.48 mi-2
£62512/240.49 miHigh Chare, Chester Le Street, County Durham, DH32
£59512/240.52 miChatton Close, Chester Le Street, Durham, DH22
£1,27506/240.57 mi-2
£67512/240.61 mi-2
£65012/240.61 miThe Anchorage, Chester Le Street, County Durham, DH32

Local Area Statistics

Population in DH2

30,579

Population in Chester-le-Street

56,377

Town centre distance

0.71 miles away

Nearest school

0.30 miles away

Nearest train station

0.45 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

-9%

Sales demand

Seller's market

Capital growth (5yrs)

+12%

Property History

Listed for £240,000

November 26, 2024

Floor Plans

Description

  • Outstanding Spacious Bungalow +
  • Completely Transformed +
  • Large Extensions & Remodelled Interior +
  • Impressive & Stylish Living Space +
  • Large Plot With Extensive Back Gardens +
  • 17ft Lounge With Bay Window +
  • Magnificent 20ft Kitchen Dining Room +
  • Glass Lantern Roofs & Large Folding Doors +
  • 2 Double Bedrooms +
  • Stunning Property - Viewing Recommended +

A truly unique bungalow which would make the perfect forever home, ideally suited to buyers looking to downsize without compromising on room sizes, plot, and exceptional quality. Hardly recognisable from its original design and layout, this bungalow has been transformed with large extensions, remodelling and outstanding high-calibre upgrades. The cul de sac plot provides exceptionally large, well-kept gardens whilst the hugely impressive interior now boasts a stylish and contemporary theme, focussing on space, quality and lots of natural light. Without doubt, the main feature of the bungalow is the stunning kitchen/dining room to the rear. This fantastic open-plan living area has been created to include two glass roof lanterns and folding doors which open to combine internal and external space. Extending to around 20 feet, this superb room is ideal for entertaining and includes a refitted kitchen featuring a central island and integrated appliances, opening to the dining and family areas. The accommodation also includes a porch, hall with Velux window, newly fitted cloakroom/wc, 17ft living room with bay window, two double size bedrooms, including double doors from the main bedroom to the rear patio area, and a refitted shower room/wc. A fixed staircase has been created to access the large boarded loft area, offering scope for further development if required. The former garage now provides accessible storage and access from the front to the rear. There is block paved parking to the front and a very large garden to the rear. The extensions and renovations in 2019/2020 included the installation of a replacement Baxi combination boiler, uPVC double glazing and electrical rewiring, together with numerous other improvements.

Garden Farm is a sought-after and established development lying a short distance to the west of the town centre. It is easily accessible to the town where many shops, schools and amenities are available. Chester-le-Street is an excellent commuter base with good road links to Durham City, Gateshead, Newcastle upon Tyne and Sunderland. The town's railway station is on the east coast line linking London and Edinburgh.

Agents Notes:
Tenure: Freehold
Covenants: Standard estate covenants affect the property. Details are contained within the Land Registry Title Register and a Transfer dated 16th February 2023, which are available for inspection.
Council Tax Band: B (Durham County Council)
Conservation Area: No
Selective Licencing Area: Not Included. See
Mains Services: Gas, Electricity, Water (vendor advises supply is metered), Sewage
Broadband: Ultrafast fibre broadband is available in the postcode 1,000 mb/s. BT, Virgin Media, and Sky satellite/fibre TV are also available.
Mobile Coverage: Major networks provide mobile coverage.
Flood Risk: Rivers & Seas – No Risk; Surface Water – Low

Agent Details

J W Wood, Chester Le Street

0191 625 0107

Next Steps?

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