2 Bed Flat, Single Let, Durham, DH1 1EG, £495,000

Durham Portfolio, Durham, DH1 1EG - 2 views - 4 months ago

Leasehold
BTL
~68 m²
+14 photos

ValuationOvervalued

Sold Prices£42.5K - £260K
Sold Prices/m²£823/m² - £4K/m²

 

 

Square Metres

~68.11 m²
Price/m²£7.3K/m²

Value Estimate

£109,982

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£123,750

Stamp Duty & Legal Fees

£28,300

Total Cash In

£152,050

 

 

Cash Out

 

Rent Range

£525 - £1,900

Rent Estimate

£663

Running Costs/mo

£1,699

Cashflow/mo

£-1,036

Cashflow/yr

£-12,438

Gross Yield

2%

Local Sold Prices

37 sold prices from £42.5K to £260K, average is £89K. £823/m² to £4K/m², average is £1.6K/m².

PriceDateDistanceAddressBeds 
£95K05/210.26 mi14, Bishops Close, Durham DH1 2BU2
£92K11/200.75 mi21, Shepherds Court, Gilesgate, Durham, County Durham DH1 1JQ2
£89K08/210.87 mi74, Prebends Field, Durham, County Durham DH1 1HJ2
£140K06/230.88 mi7, Herons Court, Durham, County Durham DH1 2HD2
£126K08/220.88 mi12, Herons Court, Durham, County Durham DH1 2HD2
£155K03/231.32 mi23, St Giles Close, Gilesgate, Durham, County Durham DH1 1XH2
£160K08/211.32 mi33, St Giles Close, Gilesgate, Durham DH1 1XH2
£146K05/211.32 mi22, St Giles Close, Gilesgate, Durham DH1 1XH2
£55K08/221.4 mi13, Mitford Drive, Sherburn Village, Durham, County Durham DH6 1QS2
£42.5K02/231.41 mi35, Mitford Drive, Sherburn Village, Durham, County Durham DH6 1QS2
£72.5K06/231.41 mi31, Mitford Drive, Sherburn Village, Durham, County Durham DH6 1QS2
£87.5K04/231.52 mi42, Blanchland Avenue, Durham, County Durham DH1 5XP2
£87K08/221.61 mi76, Lindisfarne Road, Durham, County Durham DH1 5YQ2
£75K04/211.62 mi23, Halton Road, Durham DH1 5YJ2
£70K12/201.62 mi35, Halton Road, Durham, County Durham DH1 5YJ2
£69K12/221.67 mi11, Glens Flats, High Pittington, Durham, County Durham DH6 1AR2
£80K06/211.67 mi10, Hamsterley Crescent, Durham DH1 5SS2
£80K06/211.67 mi10, Hamsterley Crescent, Durham DH1 5SS2
£90K11/211.72 mi10, Lambton View, Rainton Gate, Houghton Le Spring, Durham DH4 6QL2
£90K11/211.72 mi10, Lambton View, Rainton Gate, Houghton Le Spring, Durham DH4 6QL2
£88K07/231.72 mi19, Lambton View, Rainton Gate, Houghton Le Spring, County Durham DH4 6QL2
£98.5K03/221.72 mi18, Lambton View, Rainton Gate, Houghton Le Spring, County Durham DH4 6QL2
£80K12/211.72 mi12, Lambton View, Rainton Gate, Houghton Le Spring, County Durham DH4 6QL2
£86K08/221.73 mi111, Carr House Drive, Durham, County Durham DH1 5XW2
£48K03/211.74 mi107, Carr House Drive, Durham, County Durham DH1 5XW2
£68K10/201.77 mi71, Rochester Road, Durham DH1 5PW2
£82.6K01/211.77 mi21, Auckland Road, Durham DH1 5PL2
£235K04/211.79 mi188, York Crescent, Durham, County Durham DH1 5QS2
£185K03/211.82 mi13, Freemans Quay, Durham DH1 1SW2
£112.5K02/231.84 mi21, Claypath Court, Durham, County Durham DH1 1QE2
£93K06/231.84 mi41, Claypath Court, Durham, County Durham DH1 1QE2
£103K10/221.84 mi40, Claypath Court, Durham, County Durham DH1 1QE2
£260K01/231.9 mi1, Freemans Quay, Durham, County Durham DH1 1SW2
£88K10/201.91 mi82, Rothbury Road, Durham DH1 5QB2
£86.5K02/211.92 mi66, Middleham Road, Durham DH1 5QH2
£260K04/231.93 miFlat 16, St Andrews Court, New Elvet, Durham, County Durham DH1 3AH2
£188K08/231.93 miFlat 26, St Andrews Court, New Elvet, Durham, County Durham DH1 3AH2

Local Rents

21 rents from £525/mo to £1.9K/mo, average is £890/mo.

RentDateDistanceAddressBeds 
£75012/240.01 miPickering Place, Durham, DH12
£82009/240.21 mi-2
£75009/230.21 mi-2
£65012/240.21 miBelmont Court - DH12
£1,55006/230.21 mi-2
£1,90012/240.21 mi-2
£1,90012/240.21 mi-2
£1,90012/240.21 mi-2
£1,70003/250.21 mi-2
£80009/240.22 mi-2
£95008/240.24 mi-2
£55012/240.25 miBishops Close, Belmont2
£88008/230.26 mi-2
£89003/250.26 mi-2
£89011/240.29 mi-2
£70004/240.36 mi-2
£85008/230.37 mi-2
£90006/240.37 mi-2
£90010/240.37 mi-2
£1,20012/240.38 miCheveley Court , Durham 2
£52503/230.4 mi-2

Local Area Statistics

Population in DH1

49,938

Population in Durham

124,445

Town centre distance

1.93 miles away

Nearest school

0.20 miles away

Nearest train station

2.15 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+5%

Sales demand

Balanced market

Capital growth (5yrs)

+10%

Property History

Listed for £495,000

December 4, 2024

Description

  • Investment Opportunity +
  • Portfolio Of 5 Durham Apartments +
  • All Located Within DH1 +
  • Annual Rental Income Circa £46,000 PA +
  • Over 9% Gross Yield +
  • Ideal For Students & Professionals +
  • High Demand Rental Locations +

Portfolio of Five Apartments for Sale – DH1 Postcode, Durham

Overview

This is an exceptional opportunity to acquire a portfolio of five high-yield rental apartments, ideally located in the sought-after DH1 postcode area of Durham. Situated across two prime locations—Victoria Court in Framwell Gate and Pickering Place in Carville—these properties benefit from their proximity to Durham city centre and the prestigious Durham University.

Currently generating approximately £46,000 in annual rental income, this portfolio offers a 9% yield, making it a fantastic investment opportunity for landlords and investors alike.

Fully Tenanted: All five apartments boast a 100% occupancy rate with historical data to verify sustained rental demand.

Prime Locations: Centrally positioned within a thriving area, ideal for professionals and students alike.

Situated in a highly desirable residential areas with excellent access to amenities and transport links.

Proximity to Durham University: A major driver of rental demand, ensuring consistent interest from students and professionals.

High Yield Potential: Current rental income delivers an impressive 9% yield.

Ideal Tenant Demographics: Perfect for professionals and students due to modern layouts, convenient locations, and access to local amenities.

Strong Rental History: High demand and proven rental income stability.

Close to City Centre Amenities: Walking distance to shops, restaurants, transport links, and local businesses.

Annual Rental Income: £46,000.
Yield: Over 9% based on current rental figures.

Why Invest in Durham?

- Home to the prestigious Durham University, a Redbrick institution that attracts students from across the globe.
- Thriving local economy with strong professional and student housing demand.
- Historic city centre with excellent transport links, including train and bus connections.
- Continued growth in property values and rental yields within the DH1 postcode.

Investment Opportunity

This portfolio provides an excellent balance of stability and potential growth. Whether you are looking to expand your rental portfolio or make your first large-scale property investment, these apartments represent a secure and profitable choice.

For further details or to arrange a viewing, please contact us today.

Agent Details

Lester & Bingley, Mansfield

0115 647 0287

Next Steps?

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