2 Bed Bungalow, Refurb/BRRR, DH9 6QG, £55,000

Engels Terrace, Stanley, Co. Durham, DH9 6QG - 3 views - 3 months ago

Sold STC
Cash
Refurb/BRRR
ROI: 5%
~68 m²
+12 photos

ValuationFair Value

Sold Prices£32.8K - £132.5K
Sold Prices/m²£395/m² - £2.4K/m²

 

 

Square Metres

~68.11 m²
Price/m²£808/m²

Value Estimate

£56,100

 

 

End Value (After Refurb)

£71,517

Uplift in Value

+30%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£13,750

Stamp Duty & Legal Fees

£2,850

Refurb Costs

£26,271

Bridging Loan Interest

£1,444

Total Cash In

£46,065

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£71,517

Mortgage (After Refinance)

£53,637

Mortgage LTV

75%

Cash Released

£12,387

Cash Left In

£33,678

Equity

£17,879

Rent Range

£420 - £675

Rent Estimate

£542

Running Costs/mo

£352

Cashflow/mo

£190

Cashflow/yr

£2,281

ROI

5%

Gross Yield

12%

Local Sold Prices

50 sold prices from £32.8K to £132.5K, average is £71.8K. £395/m² to £2.4K/m², average is £1K/m².

PriceDateDistanceAddressBeds 
£71.5K03/210.05 mi4, Engels Terrace, Stanley, County Durham DH9 6QG2
£62.5K11/200.06 mi11, Walton Close, Stanley, Durham DH9 6TH2
£63K08/210.12 mi18, Coates Close, Stanley, Durham DH9 6XA2
£70K02/230.15 mi53, Wear Road, Stanley, County Durham DH9 6HL2
£66K02/210.15 mi51, Wear Road, Stanley, County Durham DH9 6HL2
£87.5K04/230.16 mi20, Constable Close, Stanley, County Durham DH9 6TE2
£68K02/230.2 mi8, Wansbeck Avenue, Stanley, County Durham DH9 6HR2
£72.5K06/230.21 mi2, Valley Close, South Stanley, Stanley, County Durham DH9 6HQ2
£97.5K11/220.21 mi14, Wansbeck Avenue, Stanley, County Durham DH9 6HR2
£53.5K12/200.22 mi9, Malvern Terrace, Stanley, County Durham DH9 6QW2
£48.3K12/200.22 mi26, Tweed Terrace, Stanley, Durham DH9 6JN2
£86K03/230.22 mi24, Tweed Terrace, Stanley, County Durham DH9 6JN2
£83K11/200.25 mi26, Wansbeck Avenue, Stanley, Durham DH9 6HY2
£78K12/200.26 mi27, Wansbeck Avenue, Stanley, County Durham DH9 6HS2
£80K11/210.36 mi11, Kipling Close, Stanley, Durham DH9 6UA2
£72K11/210.37 mi33, Tyne Road East, Stanley, Durham DH9 6NF2
£70K08/210.39 mi1, Joseph Street, Stanley, Durham DH9 7NS2
£77.5K06/230.39 mi5, Joseph Street, Stanley, County Durham DH9 7NS2
£50K11/200.39 mi24, Joseph Street, Stanley, Durham DH9 7NS2
£100K06/230.41 mi23, Betjeman Close, Stanley, County Durham DH9 6UD2
£35K11/200.42 mi10, Spen Street, Stanley, Durham DH9 7NJ2
£63K12/220.45 mi2, Garden Terrace, Stanley, County Durham DH9 7NP2
£84K04/210.45 mi14, Milton Close, Stanley, County Durham DH9 6UB2
£63.5K01/230.46 mi44, Spen Street, Stanley, County Durham DH9 7NJ2
£83K11/210.47 mi72, Orwell Gardens, Stanley, Durham DH9 6QA2
£75K11/200.47 mi72, Orwell Gardens, Stanley, Durham DH9 6QA2
£98K01/230.47 mi39, Orwell Gardens, Stanley, County Durham DH9 6QA2
£132.5K03/230.49 mi6, East Parade, Stanley, County Durham DH9 0PS2
£32.8K01/210.49 mi107, John Street, Beamish, Stanley, County Durham DH9 0QP2
£77K12/200.51 mi24, Girvan Close, Stanley, Durham DH9 6UY2
£60K03/210.52 mi29, Waveney Gardens, Stanley, Durham DH9 7NG2
£73.5K02/230.53 mi79, Eastfields, Stanley, County Durham DH9 7DN2
£62K01/210.53 mi89, Eastfields, Stanley, Durham DH9 7DN2
£83K04/210.54 mi4, Sidney Close, Stanley, County Durham DH9 6UH2
£63K03/230.55 mi82, Eastfields, Stanley, County Durham DH9 7DN2
£80K04/230.56 mi37, Ridley Street, Stanley, County Durham DH9 0PD2
£56K02/210.56 mi28, Ridley Street, Stanley, Durham DH9 0PD2
£55K02/210.56 mi13, Coquet Gardens, Stanley, Durham DH9 7PN2
£83K04/210.61 mi10, Bede Close, Stanley, County Durham DH9 0TZ2
£81.8K02/230.62 mi9, Evelyn Terrace, Stanley, County Durham DH9 7RN2
£53K07/210.63 mi57, Southfields, Stanley, County Durham DH9 7PG2
£125K06/230.63 mi34, Kinross Drive, Stanley, County Durham DH9 6UT2
£107K05/210.63 mi36, Kinross Drive, Stanley, Durham DH9 6UT2
£65K08/210.64 mi3, South Field Court, South Stanley, Stanley, County Durham DH9 7BX2
£77K06/210.68 mi48, Southfields, Stanley, Durham DH9 7PQ2
£116K10/210.68 mi10, Brentwood Court, Stanley, Durham DH9 6XW2
£49K01/210.69 mi19, Standish Street, Stanley, County Durham DH9 7AD2
£55K11/200.7 mi10, Catherine Terrace, Shield Row, Stanley, Durham DH9 0EH2
£55K03/230.7 mi6, Bircham Street, Stanley, County Durham DH9 7AE2
£55K11/200.71 mi12, Ernest Terrace, Stanley, Durham DH9 0EQ2

Local Rents

23 rents from £420/mo to £675/mo, average is £550/mo.

RentDateDistanceAddressBeds 
£57512/240.28 miWear Road, Stanley, County Durham, DH92
£59512/240.4 miBelle Street, Stanley, DH92
£59512/240.45 miHollyhill Gardens, Stanley, DH92
£60012/240.46 miOrwell Gardens, Stanley, Durham, DH92
£57512/240.52 miChurch Street, Stanley, County Durham, DH92
£67512/240.53 miKielder Drive, The Middles, Stanley, County Durham, DH92
£52512/240.61 mi-2
£55012/240.69 miBircham Street, South Moor, Stanley, DH92
£55012/240.7 miOliver Street, Stanley, Durham, DH9 7AQ2
£55002/250.71 mi-2
£42012/240.71 miPark Road, Stanley, County Durham, DH92
£50003/250.71 mi-2
£50012/240.71 mi-2
£55012/240.72 miSylvia Terrace, Stanley2
£45001/250.73 mi-2
£53502/250.78 mi-2
£55004/250.82 mi-2
£55012/240.83 miPoplar Street, Stanley, County Durham, DH92
£50001/250.88 mi-2
£42512/240.91 mi-2
£49012/240.91 miPoplar Street, Stanley, County Durham, DH92
£52512/240.98 miPine Street, Stanley, County Durham, DH92
£65012/241.14 mi-2

Local Area Statistics

Population in DH9

36,673

Nearest school

0.30 miles away

Nearest train station

4.50 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+3%

Sales demand

Seller's market

Capital growth (5yrs)

+8%

Property History

Listed for £55,000

January 3, 2025

Floor Plans

Description

  • Two-bedroom end-terrace bungalow with no onward chain. +
  • Excellent potential for modernisation. +
  • Located in a spopular area of Stanley. +
  • Includes a fitted kitchen and a shower room with WC. +
  • Features an extended lounge/diner. +
  • Two spacious double bedrooms. +
  • External spaces: private yard, side garden, and rear patio garden. +
  • uPVC double glazing and gas combi central heating. +
  • Freehold tenure, Council Tax band A. +
  • Virtual tours available, EPC rating D (63) +

This extended two-bedroom end-terrace bungalow is offered for sale with no onward chain and presents an excellent opportunity for modernisation. Situated in a popular area of Stanley, the property boasts great potential.

The accommodation comprises a fitted kitchen, a shower room with WC, an extended lounge/diner, and two spacious double bedrooms. Externally, there is a private yard, a side garden, and a rear patio garden, providing ample outdoor space.

Additional features include uPVC double glazing throughout, gas central heating via a combi boiler, and a freehold tenure. The property falls within Council Tax band A, and the Energy Performance Certificate (EPC) rating is D (63).

Virtual tours are available-contact us today to arrange a viewing! 

KITCHEN 8' 9" x 11' 3" (2.69m x 3.45m) uPVC double glazed entrance door, fitted with a range of wall and base units with contrasting laminate worktops and tiled splash-backs. Space for a slot-in gas cooker, room for a tall fridge and freezer, inset sink with vegetable drainer and mixer tap, uPVC double glazed window, loft access hatch, tiled floor and doors leading to the shower/WC and to the lounge/diner. 

SHOWER ROOM/WC 8' 9" x 4' 7" (2.69m x 1.42m) Double enclosure with thermostatic shower, tiled splash-backs and glazed sliding door. Pedestal wash basin, WC, wall mounted gas combi central heating boiler, towel radiator, tiled floor, ceiling mounted extractor fan and a frosted uPVC double glazed window. 

LOUNGE/DINER 24' 2" x 13' 1" (7.38m x 4.00m) An extended room overlooking the rear patio garden. Feature dark wood fire surround with marble inlay and hearth, inset gas fire with remote control. uPVC double glazed French doors with matching side window, one single and one double radiator, hard-wired smoke alarm, telephone and TV points and doors leading to the bedrooms. 

BEDROOM 1 (TO THE REAR) 10' 10" x 10' 11" (3.31m x 3.33m) uPVC double glazed window and a double radiator. 

BEDROOM 2 (TO THE FRONT) 11' 10" x 7' 6" (3.61m x 2.31m) uPVC double glazed window and a double radiator. 

EXTERNAL  

TO THE FRONT Self-contained yard, brick tool shed, gate leads to side garden and path to the front. 

TO SIDE & REAR Small side garden with mature hedge and fence, path to the front. To the front is a modest patio garden. Fence post denote the boundary with adjoining land which was sold off in 2015. 

HEATING Gas fired central heating via combination boiler and radiators. 

GLAZING uPVC double glazing installed. 

ENERGY EFFICIENCY EPC rating D (63). Please speak to a member of staff for a copy of the full Energy Performance Certificate. 

COUNCIL TAX The property is in Council Tax band A. 

TENURE We understand that the property is freehold. We would recommend that any purchaser has this confirmed by their legal advisor.  

SELECTIVE LICENCE Please note that this property is not within a Local Authority Selective Licensing zone. 

UTILITIES The property is connected with a mains gas, water and electricity supply and is connected to the mains drainage. 

VIEWING We have created a virtual tour which can be viewed on our YouTube channel, our website, property portals and our social media accounts such as Facebook, Twitter and Instagram. To arrange a viewing please contact the office.  

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. 

MORTGAGE ADVICE We have independent mortgage advisers within our branch, who will search the whole market to find the best suitable mortgage and help you progress through the process. Contact our office to arrange a telephone or office appointment.  

AGENTS NOTE Whilst we endeavour to make our particulars accurate and reliable, they should not be relied on as a statement or representations of fact, and do not constitute any part of an offer or contract. The owner does not make or give, nor do we or our employees have authority to make or give any representation or warranty in relation to the property. We have not checked or tested any appliances mentioned (including heating systems or electrical fittings) therefore working order cannot be confirmed. All measurements are given to the nearest 5cm.

Agent Details

David Bailes, Stanley

01207 265903

Next Steps?

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