2 Bed Terraced House, Refurb/BRRR, DH9 7NJ, £45,000

Spen Street, Stanley, Durham, Stanley, 0, DH9 7NJ - 7 views - 4 months ago

Sold STC
Motivated
Refurb/BRRR
ROI: 6%
~68 m²
+6 photos

ValuationFair Value

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

 

 

Square Metres

~68.11 m²
Price/m²£661/m²

Value Estimate

£45,450

 

 

End Value (After Refurb)

£66,108

Uplift in Value

+47%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£11,250

Stamp Duty & Legal Fees

£2,550

Refurb Costs

£26,271

Bridging Loan Interest

£1,181

Total Cash In

£43,003

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£66,108

Mortgage (After Refinance)

£49,581

Mortgage LTV

75%

Cash Released

£15,831

Cash Left In

£27,172

Equity

£16,527

Rent Range

£420 - £600

Rent Estimate

£540

Running Costs/mo

£335

Cashflow/mo

£205

Cashflow/yr

£2,465

ROI

6%

Gross Yield

14%

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 mi10, Spen Street, Stanley, Durham DH9 7NJ2
£63.5K01/230.05 mi44, Spen Street, Stanley, County Durham DH9 7NJ2
£63K12/220.06 mi2, Garden Terrace, Stanley, County Durham DH9 7NP2
£70K08/210.12 mi1, Joseph Street, Stanley, Durham DH9 7NS2
£77.5K06/230.12 mi5, Joseph Street, Stanley, County Durham DH9 7NS2
£50K11/200.12 mi24, Joseph Street, Stanley, Durham DH9 7NS2
£78K12/200.17 mi27, Wansbeck Avenue, Stanley, County Durham DH9 6HS2
£73.5K02/230.18 mi79, Eastfields, Stanley, County Durham DH9 7DN2
£62K01/210.18 mi89, Eastfields, Stanley, Durham DH9 7DN2
£63K03/230.19 mi82, Eastfields, Stanley, County Durham DH9 7DN2
£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
£72K11/210.24 mi33, Tyne Road East, Stanley, Durham DH9 6NF2
£72.5K06/230.25 mi2, Valley Close, South Stanley, Stanley, County Durham DH9 6HQ2
£70K02/230.27 mi53, Wear Road, Stanley, County Durham DH9 6HL2
£66K02/210.27 mi51, Wear Road, Stanley, County Durham DH9 6HL2
£87.5K04/230.28 mi20, Constable Close, Stanley, County Durham DH9 6TE2
£48.3K12/200.29 mi26, Tweed Terrace, Stanley, Durham DH9 6JN2
£86K03/230.29 mi24, Tweed Terrace, Stanley, County Durham DH9 6JN2
£49K01/210.31 mi19, Standish Street, Stanley, County Durham DH9 7AD2
£65K08/210.34 mi3, South Field Court, South Stanley, Stanley, County Durham DH9 7BX2
£83K11/210.36 mi72, Orwell Gardens, Stanley, Durham DH9 6QA2
£75K11/200.36 mi72, Orwell Gardens, Stanley, Durham DH9 6QA2
£98K01/230.36 mi39, Orwell Gardens, Stanley, County Durham DH9 6QA2
£115K11/200.36 mi30, Pea Road, Stanley, County Durham DH9 7RG2
£55K03/230.39 mi6, Bircham Street, Stanley, County Durham DH9 7AE2
£54K02/230.39 mi26, Rose Avenue, Stanley, County Durham DH9 7RB2
£64K05/230.4 mi37, School Terrace, Stanley, County Durham DH9 7QN2
£55K02/210.42 mi13, Coquet Gardens, Stanley, Durham DH9 7PN2
£45K04/210.43 mi36, Fern Avenue, Stanley, Durham DH9 7QY2
£36K10/210.43 mi30, Fern Avenue, Stanley, County Durham DH9 7QY2
£54K02/230.43 mi23, Fern Avenue, Stanley, County Durham DH9 7QY2
£40K11/200.43 mi10, Fern Avenue, Stanley, County Durham DH9 7QY2
£60K03/210.44 mi29, Waveney Gardens, Stanley, Durham DH9 7NG2
£53K07/210.46 mi57, Southfields, Stanley, County Durham DH9 7PG2
£71.5K03/210.46 mi4, Engels Terrace, Stanley, County Durham DH9 6QG2
£62.5K11/200.47 mi11, Walton Close, Stanley, Durham DH9 6TH2
£32.8K01/210.48 mi107, John Street, Beamish, Stanley, County Durham DH9 0QP2
£77K06/210.51 mi48, Southfields, Stanley, Durham DH9 7PQ2
£52K07/210.52 mi25, William Street, South Moor, Stanley, Durham DH9 7BJ2
£24.5K01/210.52 mi17, William Street, South Moor, Stanley, Durham DH9 7BJ2
£63K08/210.53 mi18, Coates Close, Stanley, Durham DH9 6XA2
£45K06/230.54 mi6, John Street, South Moor, Stanley, County Durham DH9 7BG2
£80K04/230.55 mi37, Ridley Street, Stanley, County Durham DH9 0PD2
£56K02/210.55 mi28, Ridley Street, Stanley, Durham DH9 0PD2
£66K06/230.57 mi2, West View Gardens, Stanley, County Durham DH9 8AR2
£52K08/210.6 mi46, Mitchell Street, South Moor, Stanley, Durham DH9 7BQ2
£53.5K12/200.62 mi9, Malvern Terrace, Stanley, County Durham DH9 6QW2

Local Rents

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

RentDateDistanceAddressBeds 
£57512/240.15 miWear Road, Stanley, County Durham, DH92
£55012/240.35 miBircham Street, South Moor, Stanley, DH92
£60012/240.35 miOrwell Gardens, Stanley, Durham, DH92
£42012/240.36 miPark Road, Stanley, County Durham, DH92
£53502/250.41 mi-2
£59512/240.41 miBelle Street, Stanley, DH92
£55012/240.42 miOliver Street, Stanley, Durham, DH9 7AQ2
£50003/250.43 mi-2
£45001/250.44 mi-2
£55002/250.49 mi-2
£59512/240.49 miHollyhill Gardens, Stanley, DH92
£57512/240.51 miChurch Street, Stanley, County Durham, DH92
£55004/250.57 mi-2
£55012/240.57 miPoplar Street, Stanley, County Durham, DH92
£52512/240.6 mi-2
£50001/250.62 mi-2

Local Area Statistics

Population in DH9

36,673

Nearest school

0.20 miles away

Nearest train station

4.92 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+3%

Sales demand

Seller's market

Capital growth (5yrs)

+8%

Property History

Listed for £45,000

December 18, 2024

Floor Plans

Description

  • Council Tax Band A, Freehold +
  • NO CHAIN +
  • Great Investment Opportunity +
  • In Need of Some Renovation +
  • Two Bedrooms - One With Fitted Wardrobes +
  • Three-Piece Bathroom +
  • Low Maintenance Yard + Shed +
  • Convenient Location +
  • Viewing Advised +

This NO CHAIN terraced house, in need of some renovation and modernisation, would make a great investment opportunity or home. Do you have a vision for your future home - can you see yourself creating the property of your dreams? Call now to book your viewing!

This terraced house is located in Stanley, Durham with close proximity to a range of amenities, schools, shopping facilities, food/drink establishments and more. The area also offers excellent road and transport links for travel both locally and further afield.

The accommodation briefly comprises a welcoming entrance way, a spacious living room and a kitchen with a wrap around utility/store area.

To the first floor is an inviting landing area through to two well-proportioned bedrooms, the master of which boasts a built in wardrobe and a three-piece bathroom with a tub-shower combination, a hand wash basin and a WC.

Externally, the property benefits from a rear yard.

This home is an excellent find. We anticipate a high amount of interest and as such we would recommend that any interested buyers inquire to arrange a viewing at the earliest convenience to ensure the opportunity is not missed.

Premium Fast Sale

The innovative Premium Fast Sale Plus method from Springbok Properties is a secure and straightforward way to buy property. It works like a typical sale, with a number of added benefits to the buyer.

Benefits

o Carefully implemented security measures
o A speedy process
o Realistically priced properties
o A Buy it Now option (ask for further information on this feature from our advisors)
o A significantly reduced chance of fall-throughs
o No risk of being "gazumped"
o The full focus of our highly motivated team

Springbok Properties' Premium Fast Sale Plus puts you in the driving seat thanks to our fast and secure methods.

All properties are competitively priced and carefully managed by motivated sellers for a quick, stress-free transaction.

Deposit

Sales can be secured with a reservation deposit of £2,500. This forms part of the final purchase price and is NOT an extra cost.

This deposit ensures that the property is taken off the market as soon as a sale is agreed. It is then exclusively reserved for you, eliminating gazumping, time wasting and financial loss.

An administration fee of £396 is required in order to draw up an exclusive legally binding contract between the buyer and seller. This gives the buyer exclusive rights to purchase within a pre-agreed timeframe.

Exclusivity

Following the payment of the above amount, Springbok Properties will facilitate a fixed exclusivity period (approximately 12 weeks). During this time, surveys should be arranged and preparations made for the exchange of contracts. The property will be reserved, so there will be no risk of gazumping.

Process

Our Premium Fast Sale Plus follows the below process:

STEP 1 - Register your interest
STEP 2 - Prepare your finances for the purchase
STEP 3 - Arrange a viewing
STEP 4 - Make an offer
STEP 5 - Secure your sale using our secure system
STEP 6 - Exchange and complete

Don't miss out on the chance to purchase this property. Call us today for further information and to arrange a viewing.

If you're interested in this property, we urge you to contact us immediately to arrange an early viewing and get the process started. This will help you to avoid missing out on this opportunity.

Springbok Properties' innovative Premium Fast Sale Plus is a secure and straightforward way to buy property.

Please note: to ensure the highest level of customer service, all calls may be recorded and monitored for training and quality purposes.

Please call us now to book an appointment.

We highly recommend early viewing as this property is priced relatively low and is likely to generate quite an interest.

Please call us now to book an appointment.

Call Recording

Please note to ensure the highest level of customer service, all calls may be recorded and monitored for training and quality purposes.

Disclaimer

Springbok Properties for itself and the Vendors or lessors of properties for whom they act give notice that:

The details shown on this website are a general outline for the guidance of intending purchasers, and do not constitute, nor constitute part of, an offer or contract or sales particulars. All descriptions, dimensions, references to condition and other details are given in good faith and are believed to be correct but any intending purchasers should not rely on them as statements or representations of fact but must satisfy themselves by inspection, searches, survey, enquiries or otherwise as to their correctness. We have not been able to test any of the building service installations and recommend that prospective purchasers arrange for a qualified person to check them before entering into any commitment. Further, any reference to, or use of any part of the properties is not a statement that any necessary planning, building regulations or other consent has been obtained. All photographs shown are indicative and cannot be guaranteed to represent the complete interior scheme or items included in the sale. No person in our employment has any authority to make or give any representation or warranty whatsoever in relation to this property.

TENURE

To be confirmed by the Vendor's Solicitors

Note

The price given is a marketing price and not an indication of the property's market value. The vendor like any seller is looking to achieve the maximum price possible. Hence, by making an enquiry on this property, you recognise and understand that this property is strictly offers in excess of the marketing price provided.

How to View this Property

Viewing is strictly by appointment please call us now for bookings.

AML REGULATIONS & PROOF OF FUNDING: Any proposed purchasers will be asked to provide identification and proof of funding before any offer is accepted. We would appreciate your co-operation with this to ensure there are no delays in agreeing the sale.

Agent Details

Springbok Properties, Nationwide

0161 416 6302

Next Steps?

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