2 Bed Flat, Refurb/BRRR, Middlesbrough, TS8 0RN, £65,000

Manor Wood, Coulby Newham, TS8 0RN - 4 months ago

Sold STC
Leasehold
Refurb/BRRR
ROI: 5%
~56 m²
+2 photos

ValuationFair Value

Sold Prices£40K - £163K
Sold Prices/m²£800/m² - £2.2K/m²

 

 

Square Metres

~56 m²
Price/m²£1.2K/m²

Value Estimate

£65,000

 

 

End Value (After Refurb)

£93,095

Uplift in Value

+43%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£16,250

Stamp Duty & Legal Fees

£4,450

Refurb Costs

£22,097

Bridging Loan Interest

£1,706

Total Cash In

£46,254

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£93,095

Mortgage (After Refinance)

£69,821

Mortgage LTV

75%

Cash Released

£21,071

Cash Left In

£25,182

Equity

£23,274

Rent Range

£455 - £795

Rent Estimate

£625

Running Costs/mo

£436

Cashflow/mo

£189

Cashflow/yr

£2,269

ROI

5%

Gross Yield

12%

Local Sold Prices

51 sold prices from £40K to £163K, average is £82K. £800/m² to £2.2K/m², average is £1.5K/m².

PriceDateDistanceAddressBeds 
£68K08/220.49 mi6, Romanby Gardens, Middlesbrough TS5 8BW2
£72K07/210.52 mi41, Phoenix Park, Hemlington, Middlesbrough TS8 9PA2
£63K04/220.52 mi15, Phoenix Park, Hemlington, Middlesbrough TS8 9PA2
£72K07/210.52 mi41, Phoenix Park, Hemlington, Middlesbrough TS8 9PA2
£60K12/220.58 mi2a, Hillel Walk, Middlesbrough TS5 8DG2
£64K05/230.61 mi7a, Otterburn Gardens, Middlesbrough TS5 8DE2
£70K12/220.61 mi9a, Otterburn Gardens, Middlesbrough TS5 8DE2
£42K12/200.77 mi105, Eddison Way, Hemlington, Middlesbrough TS8 9ES2
£95K06/210.96 mi28, Rosemoor Close, Marton In Cleveland, Middlesbrough TS7 8LQ2
£107K12/220.96 mi26, Rosemoor Close, Marton In Cleveland, Middlesbrough TS7 8LQ2
£80K08/220.99 mi122, Longhirst, Coulby Newham, Middlesbrough TS8 0TD2
£68K12/230.99 mi79, Longhirst, Coulby Newham, Middlesbrough TS8 0TD2
£66K06/210.99 mi41, Coris Close, Marton In Cleveland, Middlesbrough TS7 8SR2
£87K10/221 mi56, Longhirst, Coulby Newham, Middlesbrough TS8 0TB2
£75K12/221.15 miFlat 6, Glen Court, Glendale Road, Middlesbrough TS5 7FL2
£40K07/211.15 mi78, Broadwell Road, Middlesbrough TS4 3NP2
£105K03/221.21 mi2, Cedarwood Glade, Stainton, Middlesbrough TS8 9DJ2
£72K04/211.22 mi10, Cedarwood Glade, Stainton, Middlesbrough TS8 9DJ2
£85K11/231.37 mi27, Rosewood Court, Marton In Cleveland, Middlesbrough TS7 8QR2
£85K11/231.37 mi27, Rosewood Court, Marton In Cleveland, Middlesbrough TS7 8QR2
£95K12/211.37 mi17d, Scholars Rise, Middlesbrough TS4 3RP2
£60K09/221.39 mi22, Rosewood Court, Marton In Cleveland, Middlesbrough TS7 8QR2
£106K06/221.4 mi13, The Ladle, Middlesbrough TS4 3SL2
£115K02/221.41 mi32, The Ladle, Middlesbrough TS4 3SL2
£110K11/201.41 mi42, The Ladle, Middlesbrough TS4 3SL2
£96K01/231.41 mi29, The Ladle, Middlesbrough TS4 3SL2
£100K12/231.41 mi30, The Ladle, Middlesbrough TS4 3SL2
£65K08/231.42 mi22, Planetree Court, Middlesbrough TS7 8QT2
£83K02/211.46 mi54, Sandling Court, Marton In Cleveland, Middlesbrough TS7 8QP2
£82K10/221.46 mi36, Sandling Court, Marton In Cleveland, Middlesbrough TS7 8QP2
£65K08/231.46 mi52, Sandling Court, Marton In Cleveland, Middlesbrough TS7 8QP2
£95K01/211.49 mi49, Stanhope Grove, Middlesbrough TS5 7SF2
£95K01/211.49 mi47, Stanhope Grove, Middlesbrough TS5 7SF2
£163K04/211.51 miFlat 1, Inwood Lodge, The Grove, Marton In Cleveland, Middlesbrough TS7 8AP2
£80K03/231.54 mi15, Saltcote, Marton In Cleveland, Middlesbrough TS7 8QN2
£70K10/221.55 mi5, Riversway, Marton In Cleveland, Middlesbrough TS7 8QL2
£82K11/211.58 mi18, Bayberry Mews, Middlesbrough TS5 7RG2
£82K08/211.58 mi16, Bayberry Mews, Middlesbrough TS5 7RG2
£85K01/231.58 mi16, Bayberry Mews, Middlesbrough TS5 7RG2
£85K02/241.58 mi12, Bayberry Mews, Middlesbrough TS5 7RG2
£76.5K02/211.72 mi70, Rockingham Court, Acklam, Middlesbrough TS5 7BN2
£82.5K02/211.72 mi42, Rockingham Court, Acklam, Middlesbrough TS5 7BN2
£77.5K10/211.72 mi30, Rockingham Court, Acklam, Middlesbrough TS5 7BN2
£95K11/221.72 mi16, Rockingham Court, Acklam, Middlesbrough TS5 7BN2
£82K07/221.72 mi36, Rockingham Court, Acklam, Middlesbrough TS5 7BN2
£95K03/231.72 mi3, Rockingham Court, Acklam, Middlesbrough TS5 7BN2
£84K09/231.72 mi30, Rockingham Court, Acklam, Middlesbrough TS5 7BN2
£90K11/231.72 mi43, Rockingham Court, Acklam, Middlesbrough TS5 7BN2
£87K09/221.72 mi49, Rockingham Court, Acklam, Middlesbrough TS5 7BN2
£90K08/231.76 mi9, Oriel Close, Middlesbrough TS5 5NJ2
£76K06/211.85 mi14, Dorman Gardens, Linthorpe, Middlesbrough TS5 5DS2

Local Rents

11 rents from £455/mo to £795/mo, average is £700/mo.

RentDateDistanceAddressBeds 
£45510/240.53 mi-2
£50410/240.57 mi-2
£51811/240.57 mi-2
£70006/240.57 mi-2
£70010/240.59 mi-2
£45510/240.61 mi-2
£72512/230.65 mi-2
£79511/240.65 mi-2
£75010/240.92 miCalluna Grove, Middlesbrough, Cleveland, TS72
£57502/240.95 mi-2
£70003/251.17 mi-2

Local Area Statistics

Population in TS8

21,266

Population in Middlesbrough

189,245

Town centre distance

2.07 miles away

Nearest school

0.30 miles away

Nearest train station

1.60 miles away

 

 

Rental growth (12m)

-5%

Sales demand

Balanced market

Capital growth (5yrs)

+5%

Property History

Price changed to £65,000

January 27, 2025

Price changed to £69,950

January 2, 2025

Listed for £74,950

November 27, 2024

Floor Plans

Description

  • Strong potential as a rental property. +
  • No chain for a quick and hassle-free purchase. +
  • Great potential for modernisation and adding value. +
  • One-level living for easy accessibility. +
  • Located in a quiet cul-de-sac with lots of curb appeal. +
  • Ideal for first-time buyers or investors. +

About this property… Situated in a cul-de-sac, this two-bedroom flat is a great opportunity for first-time buyers or those looking for an investment. With great curb appeal, this property offers comfortable one-level living and has the potential to be an excellent rental property or home. While some modernising is needed, there’s plenty of scope to add value and put your own stamp on the space. With no chain, it's ready for a straightforward purchase and a chance to create a home or rental that suits your style. Entrance Hallway PVCu double-glazed entry door with built-in storage. Lounge dinner Rear PVCu double-glazed window. Kitchen Comprising a range of fitted base and wall units with matching work surfaces and coordinated tiled splashbacks. Appliances to include: stainless steel sink with a drainer, rinse bowl and mixer tap; double oven; four-ring hob with concealed extractor hood above. Bedroom one Side aspect PVCu double-glazed window. Bedroom two Side aspect PVCu double-glazed window. Bathroom White suite comprising: pedestal wall-mounted wash hand basin incorporating storage beneath with mixer tap; freestanding bath with a mixer tap and close coupled WC with button flush. Chrome heated towel rail. Externally Parking Communal parking. Garden Paved area with fenced boundaries. General information Local authority: Middlesbrough Council tax band: A Tenure: Leasehold Lease details - 125 years from 1994 - 95 years remaining Service charges - £21.45 per week - on Mondays Ground rent – No charge - includes cleaning of the communal areas, painting of the fences, cutting of the grassed areas and the building insurance. Disclaimer Harvey Brooks Properties Ltd (the Company). The Company for itself and for the vendor(s) or lessor(s) of this property for whom it acts as Agents gives notice that: (i) The particulars are a general outline only for the guidance of intending purchasers or lessees and do not constitute an offer or contract (ii) All descriptions are given in good faith and are believed to be correct, but any prospective purchasers or lessees should not rely on them as statements of fact and must satisfy themselves by inspection or otherwise as to their correctness (iii) All measurements of rooms contained within these particulars should be taken as approximate and it is the responsibility of the prospective purchaser or lessee or his professional advisor to determine the exact measurements and details as required prior to Contract (iv) None of the property's services or service installations have been tested and are not warranted to be in working order (v) No employee of the Company has any authority to make or give any representation or warranty whatsoever in relation to the property.

Agent Details

Harvey Brooks, Marton

01642 056339

Next Steps?

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