2 Bed Terraced House, Refurb/BRRR, Middlesbrough, TS3 6HZ, £60,000

Excellent Investment Property Opportunity, Offering Landlords 11% Yield!, TS3 6HZ - 9 views - 5 months ago

Refurb/BRRR
ROI: 6%
~68 m²
+8 photos

ValuationOvervalued

Sold Prices£30K - £140K
Sold Prices/m²£349/m² - £2.1K/m²

 

 

Square Metres

~68.11 m²
Price/m²£881/m²

Value Estimate

£58,120

 

 

End Value (After Refurb)

£54,056

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£15,000

Stamp Duty & Legal Fees

£3,000

Refurb Costs

£26,876

Bridging Loan Interest

£1,575

Total Cash In

£48,201

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£54,056

Mortgage (After Refinance)

£40,542

Mortgage LTV

75%

Cash Left In

£48,201

Equity

£13,514

Rent Range

£475 - £795

Rent Estimate

£550

Running Costs/mo

£299

Cashflow/mo

£251

Cashflow/yr

£3,013

ROI

6%

Gross Yield

11%

Local Sold Prices

50 sold prices from £30K to £140K, average is £64.3K. £349/m² to £2.1K/m², average is £964/m².

PriceDateDistanceAddressBeds 
£45K03/230.02 mi25, Coltman Street, Middlesbrough TS3 6JA2
£30K06/210.05 mi35, Dorothy Street, Middlesbrough TS3 6JD2
£70K06/210.06 mi25, Thomas Street, Middlesbrough TS3 6JE2
£40K03/210.1 mi16, Maria Street, Middlesbrough TS3 6JQ2
£43K06/210.1 mi21, Thornton Street, Middlesbrough TS3 6PG2
£36K07/210.11 mi5, Deacon Street, Middlesbrough TS3 6PB2
£30K11/200.12 mi11, Coronation Street, Middlesbrough TS3 6QH2
£45K03/230.16 mi5, Herbert Street, Middlesbrough TS3 6JR2
£48K03/230.17 mi2, Norcliffe Street, Middlesbrough TS3 6PS2
£40.5K03/230.17 mi10, Stainton Street, Middlesbrough TS3 6QF2
£88K06/230.18 mi23, Livingstone Road, Middlesbrough TS3 6ET2
£49K08/230.18 mi11, Livingstone Road, Middlesbrough TS3 6ET2
£100K05/230.19 mi11, Millfield Road, Middlesbrough TS3 6ES2
£118K08/210.19 mi5, Millfield Road, Middlesbrough TS3 6ES2
£52K01/230.2 mi106, Beaumont Road, Middlesbrough TS3 6NP2
£42K03/210.21 mi27, Kindersley Street, Middlesbrough TS3 6PW2
£50K12/220.23 mi2, Mccreton Street, Middlesbrough TS3 6QA2
£45K03/230.27 mi15, Benedict Street, Middlesbrough TS3 6DT2
£44K11/200.36 mi7, Lytton Street, Middlesbrough TS4 2BZ2
£48.5K04/210.37 mi35, Saltwells Road, Middlesbrough TS4 2EB2
£80K02/230.57 mi32, Angle Street, Middlesbrough TS4 2JA2
£60K05/210.57 mi22, Angle Street, Middlesbrough TS4 2JA2
£77K11/220.57 mi16, Angle Street, Middlesbrough TS4 2JA2
£65.5K04/210.59 mi5, Duncombe Road, Middlesbrough TS4 2FE2
£61.5K11/200.6 mi34, Talbot Street, Middlesbrough TS1 3EP2
£71K11/200.6 mi43, Merlin Road, Middlesbrough TS3 8EB2
£95K08/210.61 mi80, Highfield Road, Middlesbrough TS4 2QP2
£140K09/230.61 mi62, Highfield Road, Middlesbrough TS4 2QP2
£48.5K01/210.63 mi27, Esher Street, Middlesbrough TS1 3EN2
£105K12/200.63 mi62, Roseberry Road, Middlesbrough TS4 2LL2
£82.5K07/210.64 mi9, Westerdale Road, Middlesbrough TS3 7RQ2
£52.5K03/210.65 mi9, Roscoe Street, Middlesbrough TS1 3HN2
£106K11/230.65 mi15, Egmont Road, Middlesbrough TS4 2HU2
£63K05/210.65 mi26, Roscoe Street, Middlesbrough TS1 3HN2
£68K08/230.65 mi58, Byelands Street, Middlesbrough TS4 2HP2
£100K07/220.67 mi32, Newstead Road, Middlesbrough TS4 2HJ2
£41K12/220.68 mi30, Somerset Street, Middlesbrough TS1 2EF2
£62K06/230.69 mi15, Haddon Street, Middlesbrough TS1 3JL2
£75K01/230.69 mi26, Delarden Road, Middlesbrough TS3 8JR2
£90K12/220.71 mi66, Falmouth Street, Middlesbrough TS1 3HH2
£110K09/230.72 mi106, Lansdowne Road, Middlesbrough TS4 2QS2
£91K12/220.74 mi11, Toronto Crescent, Middlesbrough TS4 2NA2
£78.5K04/230.74 mi146, Ingram Road, Middlesbrough TS3 7BU2
£75K10/210.74 mi129, Ingram Road, Middlesbrough TS3 7BX2
£115K05/220.75 mi9, Stadium Gardens, Middlesbrough TS4 2WF2
£59K09/210.77 mi51, Errol Street, Middlesbrough TS1 3LW2
£105K12/220.79 mi2, Gilling Walk, Middlesbrough TS3 7PG2
£72K10/210.8 mi23, Aubrey Street, Middlesbrough TS1 3NH2
£45K04/210.8 mi68, Egerton Street, Middlesbrough TS1 3LS2
£82K08/230.81 mi118, Park Lane, Middlesbrough TS1 3LL2

Local Rents

20 rents from £475/mo to £795/mo, average is £645/mo.

RentDateDistanceAddressBeds 
£57510/240.02 miColtman Street, MIDDLESBROUGH2
£49910/240.02 mi-2
£50010/240.05 mi-2
£79501/250.07 mi-2
£59504/250.1 mi-2
£65010/240.11 miEsk Street, Middlesbrough, TS32
£55010/240.11 miCadogan Street, North Ormesby, Middlesbrough, North Yorkshire, TS32
£57510/240.12 miPeaton Street, MIDDLESBROUGH2
£69510/240.18 mi-2
£79503/250.18 mi-2
£69510/240.18 miHerbert Street, Middlesbrough, TS32
£79503/250.18 mi-2
£79503/250.18 mi-2
£69512/230.2 mi-2
£47510/240.24 mi-2
£55002/250.26 mi-2
£64012/240.5 mi-2
£65010/240.55 miDouglas Court, Douglas Street, Middlesbrough, North Yorkshire, TS42
£65012/240.57 mi-2
£56510/240.57 mi-2

Local Area Statistics

Population in TS3

28,890

Population in Middlesbrough

189,245

Town centre distance

1.54 miles away

Nearest school

0.10 miles away

Nearest train station

1.12 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+34%

Sales demand

Seller's market

Capital growth (5yrs)

+23%

Property History

Listed for £60,000

November 29, 2024

Sold for £28,000

2012

Sold for £38,000

2010

Floor Plans

Description

  • Attention Investors! +
  • Two Bedroom Mid Terrace Property +
  • Chain Free +
  • Projected Rental Income: £550PCM +
  • Projected Rental Yield: 11% +
  • Buyers Premium Fee May Apply +

New to the market, Horizon present this two bedroom terraced property situated in central TS3, a stones throw from local shops, amenities and public transport routes, as well as a short walk from the Middlesbrough Town Centre.The property comprises of an entrance hall, leading to the open plan living and dining room. To the rear, is a long kitchen leading to an external yard. To the first floor is a spacious bathroom with a three piece suite, and two large double bedrooms.This will be available free of chain, and Horizon Sales & Lettings can assist with your lettings needs, and offer services for any preferred renovations and Letting.Projected Rental Income: £550PCMProjected Rental Yield: 11%BUYERS PREMIUM FEE:Buyers Premium Fee of £3,600 is Applicable.When you decide to proceed with the purchase of a property, a buyer's premium fee is charged. This fee secures your interest in the sale and ensures the property is reserved for you. Please note that this fee is non-refundable, even if you choose to withdraw from the purchase or if the survey flags advisories. However, if a survey highlights a structural issue that significantly impacts the property's funding potential, we offer the option to reallocate the fee to another property within our portfolio. This provides flexibility while ensuring your investment remains secure.

Agent Details

Property Express, Normanby

01642 056244

Next Steps?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪