3 Bed Terraced House, Cash/Bridging Only, Consett, DH8 5RF, £135,000

Palmerston Street, Consett, DH8 5RF - 4 months ago

Cash
ROI: 5%
~87 m²
+20 photos

ValuationOvervalued

Sold Prices£62K - £231K
Sold Prices/m²£597/m² - £2.1K/m²

 

 

Square Metres

~87.10 m²
Price/m²£1.6K/m²

Value Estimate

£125,068

 

 

End Value (After Refurb)

£126,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£33,750

Stamp Duty & Legal Fees

£8,150

Refurb Costs

£33,429

Bridging Loan Interest

£3,544

Total Cash In

£80,623

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£126,000

Mortgage (After Refinance)

£94,500

Mortgage LTV

75%

Cash Left In

£80,623

Equity

£31,500

Rent Range

£525 - £2,850

Rent Estimate

£959

Running Costs/mo

£606

Cashflow/mo

£353

Cashflow/yr

£4,241

ROI

5%

Gross Yield

9%

Local Sold Prices

50 sold prices from £62K to £231K, average is £121.3K. £597/m² to £2.1K/m², average is £1.4K/m².

PriceDateDistanceAddressBeds 
£117K06/230.01 mi6, Palmerston Street, Consett, County Durham DH8 5RF3
£65K05/230.08 mi25, Taylor Street, Consett, County Durham DH8 5RS3
£105K01/210.08 mi10, Taylor Street, Consett, Durham DH8 5RS3
£75.5K01/230.08 mi18, Taylor Street, Consett, County Durham DH8 5RS3
£100K03/210.13 mi8, West Parade, Consett, County Durham DH8 5RR3
£118.5K04/230.19 mi12, The Green, Consett, County Durham DH8 5BG3
£113K07/210.19 mi6, The Green, Consett, County Durham DH8 5BG3
£135K02/230.21 mi62, Berry Edge Road, Consett, County Durham DH8 5DS3
£97K12/200.24 mi21, Southernwood, Consett, Durham DH8 6GD3
£95.5K12/200.25 mi10, Dale Court, Consett, Durham DH8 5DJ3
£140K01/230.26 mi8, Cardoon Road, Consett, County Durham DH8 6GG3
£130K03/230.26 mi12, Cardoon Road, Consett, County Durham DH8 6GG3
£200K11/220.28 mi19, Middleton Close, Consett, County Durham DH8 7UQ3
£214.5K02/230.3 mi14, Middleton Close, Consett, County Durham DH8 7UQ3
£141K04/230.31 mi17, Meadow Rise, Consett, County Durham DH8 6NS3
£214K06/210.31 mi30, Green Street, Consett, Durham DH8 5LP3
£180K11/200.31 mi42, Stuart Court, Consett, Durham DH8 5GA3
£155K07/210.31 mi53, Stuart Court, Consett, Durham DH8 5GA3
£105K11/200.32 mi12, Generation Place, Consett, Durham DH8 5XT3
£135K01/230.34 mi30, Gladstone Street, Consett, County Durham DH8 6AQ3
£101K04/210.34 mi9, Clarendon Street, Consett, Durham DH8 5LS3
£204K06/230.35 mi34, Grassholme Close, Consett, County Durham DH8 7UL3
£231K08/230.35 mi14, Grassholme Close, Consett, County Durham DH8 7UL3
£115K07/210.38 mi6, Park Avenue, Consett, County Durham DH8 6AS3
£135K05/230.39 mi20, Romany Drive, Consett, County Durham DH8 5XL3
£137K12/210.41 mi135, Medomsley Road, Consett, County Durham DH8 5HL3
£88.5K05/210.42 mi6, Barr House Avenue, Consett, County Durham DH8 5NE3
£170K12/220.44 mi80, Holwick Close, Consett, County Durham DH8 7UJ3
£124K11/200.44 mi33, Ashdale Road, Consett, Durham DH8 6AU3
£104K02/230.46 mi24, Gloucester Road, Consett, County Durham DH8 7LL3
£77K03/210.46 mi22, Gloucester Road, Consett, County Durham DH8 7LL3
£70K10/210.48 mi41, Berksyde, Consett, County Durham DH8 7LJ3
£153.5K10/210.49 mi171, Medomsley Road, Consett, Durham DH8 5HU3
£62K02/210.49 mi28, Fairfield, Consett, County Durham DH8 7HA3
£65K02/230.49 mi8, Fairfield, Consett, County Durham DH8 7HA3
£105K03/210.5 mi9, Ash Grove, Consett, Durham DH8 6EB3
£151.3K03/230.5 mi10, Oakdale Road, Consett, County Durham DH8 6AT3
£145K02/230.54 mi39, Askrigg Close, Consett, County Durham DH8 7EF3
£125K01/210.55 mi37, Aynsley Terrace, Consett, Durham DH8 5NQ3
£180K01/210.57 mi17, Redmire Drive, Consett, Durham DH8 7EL3
£120K08/210.58 mi22, Steadings Court, Consett, Durham DH8 6GA3
£175K09/210.58 mi87, Redmire Drive, Consett, County Durham DH8 7EL3
£88.3K05/230.59 mi18, Third Street, Crookhall, Consett, County Durham DH8 7LT3
£138K03/230.59 mi43, Fenwick Way, Consett, County Durham DH8 5FD3
£122.5K09/210.61 mi63, Langdon Close, Consett, Durham DH8 7NG3
£115.5K12/200.61 mi43, Langdon Close, Consett, Durham DH8 7NG3
£70K01/210.61 mi50, Old Hall Road, Consett, County Durham DH8 7HU3
£107K06/230.61 mi56, Old Hall Road, Consett, County Durham DH8 7HU3
£170K02/230.62 mi4, Horton Close, Consett, County Durham DH8 7EN3
£96K05/230.63 mi98, Fenwick Way, Consett, County Durham DH8 5FE3

Local Rents

13 rents from £525/mo to £2.9K/mo, average is £750/mo.

RentDateDistanceAddressBeds 
£52504/250.18 mi-3
£90012/240.2 mi-3
£72503/250.23 mi-3
£72512/240.27 miSpiro Court, Consett, Durham, DH83
£77502/250.31 mi-3
£75012/240.34 mi-3
£77003/250.34 mi-3
£79512/240.56 miAskrigg Close, Consett3
£2,85002/250.56 mi-3
£75012/240.56 mi-3
£72512/240.6 mi-3
£75012/240.61 miSteading Court, Consett3
£99512/240.61 mi-3

Local Area Statistics

Population in DH8

38,324

Population in Consett

38,379

Town centre distance

0.36 miles away

Nearest school

0.30 miles away

Nearest train station

7.47 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+9%

Sales demand

Seller's market

Capital growth (5yrs)

+14%

Property History

Price changed to £135,000

February 16, 2025

Listed for £139,950

January 7, 2025

Floor Plans

Description

  • Mid Terrace Property +
  • Three Bedrooms +
  • Two Reception Rooms +
  • Two Bathrooms +
  • Feature Log Burner +
  • Utility Space +
  • Private Rear Yard & Front Garden +
  • Ample Storage +
  • Ideal For a First Time Buyer +
  • Popular Location in Consett Town Centre +

Jan Mitchell Properties are delighted to welcome to the market this three-bedroom, mid-terrace property that will appeal to a variety of buyers. This property is located in central Consett, close to local amenities and offers great access links to neighbouring cities such as Newcastle and Durham.

The property briefly comprises:- Entrance hallway, lounge with double doors to the dining room which includes stairs leading to the first floor and log burner in the corner, kitchen with fitted wall and floor units, utility space, and ground floor three piece bathroom WC. To the first floor, there are three bedrooms; one of which with built in storage cupboard, and a three piece shower room WC.

Externally, there is a well maintained southerly facing front garden and allowing for all-day sun enjoyment with lawned and patio areas. To the rear, there is a private yard with planting sections and artificial grass.

Measurements
Lounge - 3.77 x 3.56
Dining Room - 4.79 x 3.93
Kitchen - 1.94 x 3.81
Bedroom One - 2.86 x 3.93
Bedroom Two - 2.86 x 3.43
Bedroom Three - 1.83 x 2.69

IMPORTANT NOTE TO PURCHASERS
We endeavour to make our property details accurate, however, they do not constitute or form part of an offer or any contract and are not to relied upon as statements of representation or fact. Any services, systems and appliances listed in the details have not been tested by us and no guarantee is given to their operating ability or efficiency. All the measurements and floor plans have been taken as a guide to prospective purchasers and are not to be relied upon. Please be advised that some of the information may be awaiting vendor approval. If you require clarification of further information on any points please contact us direct.

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.

Tenure - We are not able to verify the tenure of the property as it is not always possible to see sight of the relevant documentation prior to marketing. Prospective purchasers must make further enquiries with their legal adviser.

Council Tax Band: A (Durham County Council)
Tenure: Freehold

Agent Details

Jan Mitchell Properties, Covering North East

0191 625 1034

Next Steps?

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