2 Bed Terraced House, Cash/Bridging Only, Chester-le-Street, DH3 1ED, £80,000

Queen Street, Birtley, Chester Le Street, DH3 1ED - 3 views - 3 months ago

Sold STC
Cash
ROI: 5%
~68 m²
+7 photos

ValuationFair Value

Sold Prices£42K - £285K
Sold Prices/m²£627/m² - £3.2K/m²

 

 

Square Metres

~68.11 m²
Price/m²£1.2K/m²

Value Estimate

£81,600

 

 

End Value (After Refurb)

£87,853

Uplift in Value

+10%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£20,000

Stamp Duty & Legal Fees

£3,600

Refurb Costs

£26,073

Bridging Loan Interest

£2,100

Total Cash In

£53,523

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£87,853

Mortgage (After Refinance)

£65,890

Mortgage LTV

75%

Cash Released

£5,890

Cash Left In

£47,633

Equity

£21,963

Rent Range

£500 - £825

Rent Estimate

£650

Running Costs/mo

£425

Cashflow/mo

£225

Cashflow/yr

£2,706

ROI

5%

Gross Yield

10%

Local Sold Prices

33 sold prices from £42K to £285K, average is £89K. £627/m² to £3.2K/m², average is £1.3K/m².

PriceDateDistanceAddressBeds 
£61.8K03/230.01 mi42, Queen Street, Birtley, Chester Le Street, Tyne And Wear DH3 1ED2
£74K02/230.01 mi55, King Street, Birtley, Chester Le Street, Tyne And Wear DH3 1EF2
£42K10/200.02 mi22, Queen Street, Birtley, Chester Le Street, Tyne And Wear DH3 1ED2
£95K07/210.04 mi67, Mitchell Street, Birtley, Chester Le Street, Tyne And Wear DH3 1EQ2
£107.5K01/230.04 mi67, Mitchell Street, Birtley, Chester Le Street, Tyne And Wear DH3 1EQ2
£102K01/230.06 mi15, Ravensworth Road, Birtley, Chester Le Street, Tyne And Wear DH3 1EE2
£85K12/220.07 mi17, Morris Street, Birtley, Chester Le Street, Tyne And Wear DH3 1DU2
£87.3K04/210.08 mi10, Poplar Crescent, Birtley, Chester Le Street, Tyne And Wear DH3 1EH2
£75K05/210.1 mi6, May Street, Birtley, Chester Le Street, Tyne And Wear DH3 1EU2
£81K02/230.1 mi17, Jones Street, Birtley, Chester Le Street, Tyne And Wear DH3 1DZ2
£88.5K12/200.11 mi53, Ravensworth Road, Birtley, Chester Le Street, Tyne And Wear DH3 1EN2
£105K04/210.26 mi4, Hawkhills Terrace, Birtley, Chester Le Street, Tyne And Wear DH3 1LN2
£89K07/210.3 mi15, Lavers Road, Birtley, Chester Le Street, Tyne And Wear DH3 1HH2
£95K03/230.39 mi22, Sanders Gardens, Birtley, Chester Le Street, Tyne And Wear DH3 1NB2
£60K02/210.39 mi67, Lansbury Drive, Birtley, Chester Le Street, Tyne And Wear DH3 1JR2
£85K11/200.41 mi12, New South Terrace, Birtley, Chester Le Street, Tyne And Wear DH3 1AF2
£85K12/200.49 mi54, Glamis Villas, Birtley, Chester Le Street, Tyne And Wear DH3 1JZ2
£64K07/230.49 mi22, Glamis Villas, Birtley, Chester Le Street, Tyne And Wear DH3 1JZ2
£101K11/200.51 mi29, Oliver Crescent, Birtley, Chester Le Street, Tyne And Wear DH3 1NG2
£70K09/210.52 mi1, Wilfred Street, Birtley, Chester Le Street, Tyne And Wear DH3 2NU2
£78K04/210.52 mi3, Wilfred Street, Birtley, Chester Le Street, Tyne And Wear DH3 2NU2
£94.5K10/200.55 mi9, Hattam Close, Birtley, Chester Le Street, Tyne And Wear DH3 1GE2
£100K08/210.55 mi6, Hattam Close, Birtley, Chester Le Street, Tyne And Wear DH3 1GE2
£93.5K11/210.57 mi77, Windsor Road, Birtley, Chester Le Street, Tyne And Wear DH3 1PQ2
£62.5K04/210.57 mi23, Windsor Road, Birtley, Chester Le Street, Tyne And Wear DH3 1PQ2
£285K03/230.65 mi8, The Uplands, Birtley, Chester Le Street, Tyne And Wear DH3 1RJ2
£100K03/210.66 mi17, Angel Way, Birtley, Chester Le Street, Tyne And Wear DH3 1GD2
£190K11/200.72 mi6, Highfield, Birtley, Chester Le Street, Tyne And Wear DH3 1QQ2
£214K12/220.74 mi31, Dene Court, Birtley, Chester Le Street, Tyne And Wear DH3 1QH2
£220K01/230.74 mi30, Dene Court, Birtley, Chester Le Street, Tyne And Wear DH3 1QH2
£149.9K05/210.85 mi13, Tamerton Drive, Birtley, Chester Le Street, Tyne And Wear DH3 2LX2
£155K06/210.85 mi22, Tamerton Drive, Birtley, Chester Le Street, Tyne And Wear DH3 2LX2
£75K02/230.88 mi3, North Street, Birtley, Chester Le Street, Tyne And Wear DH3 2JJ2

Local Rents

14 rents from £500/mo to £825/mo, average is £673/mo.

RentDateDistanceAddressBeds 
£60007/240.04 mi-2
£55006/240.08 mi-2
£50012/240.12 miMitchell Street, Birtley, Chester Le Street, County Durham, DH32
£65003/250.44 mi-2
£70010/230.7 mi-2
£72009/240.7 mi-2
£75012/240.91 miRenfrew Place, Birtley2
£55012/240.93 miYork Road, Birtley, Chester Le Street2
£72512/240.93 miLaxford, Birtley, Chester Le Street2
£65012/240.94 miDorset Avenue, Birtley, Chester Le Street, County Durham, DH32
£65012/240.99 miPortobello Terrace, Birtley, Chester Le Street, Chester Le Street, DH3 2JS2
£69512/241.02 mi-2
£75012/241.15 mi-2
£82503/251.15 mi-2

Local Area Statistics

Population in DH3

25,797

Population in Chester-le-Street

56,377

Town centre distance

2.70 miles away

Nearest school

0.20 miles away

Nearest train station

2.91 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

+13%

Sales demand

Balanced market

Capital growth (5yrs)

-3%

Property History

Listed for £80,000

December 26, 2024

Sold for £50,000

2019

Sold for £35,000

2003

Sold for £25,000

2001

Floor Plans

Description

  • Mid Terraced House +

  • Deceptively Spacious +

  • Large Rear Yard +

  • Approx. Floor Area: 61 sq m / 652 sq ft +

  • Council Tax Band A +

  • EPC RATING C +

Well presented and deceptively spacious two bedroom home ideal for families, first time buyers or investors. No Chain Involved.

Similar homes have let for around £650pcm

Comprises: entrance hall, lounge with an electric fire and a storage cupboard, a bathroom with a shower over bath and WC. Kitchen with integrated oven, hob and extractor fan. Plumbing for washing machine and space for fridge freezer. Access to large enclosed rear courtyard.

The first floor features a double bedroom at the rear with a window overlooking the back, and a larger-than-average double bedroom at the front, offering ample space for furniture, including a built-in storage cupboard and plenty of room for wardrobes.

Large enclosed courtyard to rear.

Double glazed windows and gas heating system via a combi boiler.

We understand the property is Freehold

MAKING AN OFFER Please note that all offers will require financial verification including mortgage agreement in principle, proof of deposit funds, proof of available cash and full chain details including selling agents and solicitors down the chain. Under New Money Laundering Regulations we require proof of identification from all buyers before acceptance letters are sent and solicitors can be instructed.

IMPORTANT NOTE TO POTENTIAL PURCHASERS & TENANTS:
We endeavour to make our particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and none is to be relied upon as statements of representation or fact. The services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency is given. All photographs and measurements have been taken as a guide only and are not precise. Floor plans where included are not to scale and accuracy is not guaranteed. If you require clarification or further information on any points, please contact us, especially if you are traveling some distance to view. POTENTIAL PURCHASERS: Fixtures and fittings other than those mentioned are to be agreed with the seller. POTENTIAL TENANTS: All properties are available for a minimum length of time, with the exception of short term accommodation. Please contact the branch for details. A security deposit of at least one month’s rent is required. Rent is to be paid one month in advance. It is the tenant’s responsibility to insure any personal possessions. Payment of all utilities including water rates or metered supply and Council Tax is the responsibility of the tenant in most cases.

QLF240492/2

Agent Details

YOUR MOVE Chris Stonock, Low Fell

0191 625 1052

Next Steps?

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