3 Bed Semi-Detached House, Refurb/BRRR, Redcar, TS10 1HG, £100,000

Westfield Avenue, Redcar, North Yorkshire, TS10 1HG - 20 views - 3 months ago

Sold STC
Motivated
Refurb/BRRR
ROI: 17%
~93 m²
+11 photos

ValuationUndervalued

Sold Prices£59K - £213K
Sold Prices/m²£513/m² - £2K/m²

 

 

Square Metres

~93 m²
Price/m²£1.1K/m²

Value Estimate

£103,000
BMV3%

 

 

End Value (After Refurb)

£123,490

Uplift in Value

+23%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£25,000

Stamp Duty & Legal Fees

£4,200

Refurb Costs

£35,687

Bridging Loan Interest

£2,625

Total Cash In

£69,262

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£123,490

Mortgage (After Refinance)

£92,617

Mortgage LTV

75%

Cash Released

£17,617

Cash Left In

£51,645

Equity

£30,872

Rent Range

£595 - £3,300

Rent Estimate

£1,770

Running Costs/mo

£760

Cashflow/mo

£1,010

Cashflow/yr

£12,121

ROI

18%

Gross Yield

21%

Local Sold Prices

50 sold prices from £59K to £213K, average is £117K. £513/m² to £2K/m², average is £1.3K/m².

PriceDateDistanceAddressBeds 
£93K09/210 mi74, Westfield Avenue, Redcar, Redcar And Cleveland TS10 1HG3
£135K07/230.1 mi31, Corporation Road, Redcar, Redcar And Cleveland TS10 1EY3
£70K06/210.1 mi62, West Dyke Road, Redcar, Redcar And Cleveland TS10 1HQ3
£170K01/230.1 mi62, West Dyke Road, Redcar, Redcar And Cleveland TS10 1HQ3
£130K06/230.12 mi80, Brooksbank Avenue, Redcar, Redcar And Cleveland TS10 1HS3
£130K09/230.12 mi12, Brooksbank Avenue, Redcar, Redcar And Cleveland TS10 1HS3
£100K11/210.12 mi31, Sandringham Road, Redcar, Redcar And Cleveland TS10 1EX3
£130K12/210.12 mi37, Sandringham Road, Redcar, Redcar And Cleveland TS10 1EX3
£102.5K08/210.12 mi8, Sandringham Road, Redcar, Redcar And Cleveland TS10 1EX3
£134K11/200.14 mi14, Althorp, Redcar, Redcar And Cleveland TS10 1NY3
£149.9K11/200.14 mi12, Althorp, Redcar, Redcar And Cleveland TS10 1NY3
£123.5K10/210.14 mi12, Rydal Avenue, Redcar, Redcar And Cleveland TS10 1HY3
£110.1K07/210.16 mi14, Buckingham Road, Redcar, Redcar And Cleveland TS10 1EU3
£95K04/230.16 mi6, Buckingham Road, Redcar, Redcar And Cleveland TS10 1EU3
£105K10/210.17 mi49, Buckingham Road, Redcar, Redcar And Cleveland TS10 1ET3
£144.9K04/230.19 mi92, Sandringham Road, Redcar, Redcar And Cleveland TS10 1ES3
£145K11/200.19 mi106, Sandringham Road, Redcar, Redcar And Cleveland TS10 1ES3
£125K06/210.2 mi59, Sandringham Road, Redcar, Redcar And Cleveland TS10 1ER3
£137K01/240.2 mi95, Sandringham Road, Redcar, Redcar And Cleveland TS10 1ER3
£122K05/230.2 mi43, Sandringham Road, Redcar, Redcar And Cleveland TS10 1ER3
£95K04/230.2 mi107, Sandringham Road, Redcar, Redcar And Cleveland TS10 1ER3
£59K04/230.2 mi14, Elton Street, Redcar, Redcar And Cleveland TS10 2AD3
£80K04/240.22 mi12, Holder Street, Redcar, Redcar And Cleveland TS10 2AB3
£130K04/230.25 mi4, Buttermere Road, Redcar, Redcar And Cleveland TS10 1LN3
£105K12/200.25 mi28, Windermere Avenue, Redcar, Redcar And Cleveland TS10 1LE3
£148K12/220.25 mi32, Windermere Avenue, Redcar, Redcar And Cleveland TS10 1LE3
£118K03/210.25 mi4, Semmerwater Grove, Redcar, Redcar And Cleveland TS10 1JG3
£100K01/210.25 mi8, Semmerwater Grove, Redcar, Redcar And Cleveland TS10 1JG3
£160K12/200.26 mi130, West Dyke Road, Redcar, Durham TS10 1JH3
£213K10/230.26 mi128, West Dyke Road, Redcar, Redcar And Cleveland TS10 1JH3
£79K04/210.26 mi34, Soppett Street, Redcar, Redcar And Cleveland TS10 2AL3
£170K11/230.26 mi1, Thirlmere Road, Redcar, Redcar And Cleveland TS10 1LJ3
£128K10/230.26 mi25, Lucerne Road, Redcar, Redcar And Cleveland TS10 1JJ3
£121K01/240.27 mi29, Thrush Road, Redcar, Redcar And Cleveland TS10 2AT3
£78K04/210.27 mi26, Scott Street, Redcar, Redcar And Cleveland TS10 2AN3
£78K04/210.27 mi26, Scott Street, Redcar, Redcar And Cleveland TS10 2AN3
£115K01/210.28 mi11, Lumley Road, Redcar, Cleveland TS10 2BD3
£120K04/210.28 mi9, Lumley Road, Redcar, Redcar And Cleveland TS10 2BD3
£90K06/210.29 mi86, Lumley Road, Redcar, Redcar And Cleveland TS10 2BE3
£61.5K03/210.32 mi15, Westbourne Grove, Redcar, Redcar And Cleveland TS10 1EH3
£123.5K11/230.33 mi12, Hawkshead Road, Redcar, Redcar And Cleveland TS10 1JY3
£85K03/230.33 mi54, Thrush Road, Redcar, Redcar And Cleveland TS10 2AS3
£84.8K07/230.33 mi58, Thrush Road, Redcar, Redcar And Cleveland TS10 2AS3
£135K03/240.34 mi5, Ontario Crescent, Redcar, Redcar And Cleveland TS10 1JR3
£88K03/230.34 mi28, Red Lion Street, Redcar, Redcar And Cleveland TS10 3HF3
£80.7K10/230.35 mi26, France Street, Redcar, Redcar And Cleveland TS10 3HH3
£116K06/230.36 mi20, Geneva Drive, Redcar, Redcar And Cleveland TS10 1JP3
£81.3K12/200.36 mi24, Coatham Road, Redcar, Redcar And Cleveland TS10 1RJ3
£64K07/210.37 mi38, Lumley Road, Redcar, Redcar And Cleveland TS10 2BG3
£123.5K10/210.37 mi50, Lumley Road, Redcar, Redcar And Cleveland TS10 2BG3

Local Rents

26 rents from £595/mo to £3.3K/mo, average is £2.2K/mo.

RentDateDistanceAddressBeds 
£78510/240.2 mi-3
£2,30009/240.21 mi-3
£3,30010/240.21 mi-3
£2,30002/250.21 mi-3
£2,30002/250.21 mi-3
£2,10010/240.22 mi-3
£2,30011/240.22 mi-3
£3,00001/250.22 mi-3
£2,10010/240.24 mi-3
£2,30001/250.24 mi-3
£3,10011/240.24 mi-3
£2,25001/250.24 mi-3
£2,30002/250.24 mi-3
£65010/240.25 mi-3
£65008/240.25 mi-3
£69510/240.25 miSoppett Street, Redcar, North Yorkshire, TS103
£2,10010/240.26 mi-3
£2,30002/250.26 mi-3
£2,30001/250.26 mi-3
£80010/240.31 miLumley Road, Redcar, North Yorkshire, TS103
£72510/240.34 mi-3
£70010/240.38 miCoatham Road, Redcar, North Yorkshire, TS103
£2,16703/250.42 mi-3
£2,16703/250.44 mi-3
£66010/240.44 mi-3
£59510/240.47 miRegency Mews, Redcar, North Yorkshire, TS103

Local Area Statistics

Population in TS10

36,800

Population in Redcar

48,622

Town centre distance

0.44 miles away

Nearest school

0.10 miles away

Nearest train station

0.25 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+100%

Sales demand

Seller's market

Capital growth (5yrs)

+16%

Property History

Listed for £100,000

January 8, 2025

Floor Plans

Description

  • Council Tax Band B, Freehold +
  • Chain Free +
  • In Need Of Modernisation +
  • Ample Storage +
  • Spacious Living Room Through To Dining Room +
  • Three Well-Proportioned Bedrooms +
  • Off Road Parking +
  • Rear Garden +
  • Viewing Advised +

Situated in close proximity to Redcar Beach. This home offers a spacious open-plan lounge-dining room and would be an ideal family home

This semi-detached home is located in Redcar with close proximity to Redcar Beach and a range of amenities, schools, shopping facilities, food/drink establishments and more.

The accommodation briefly comprises a welcoming entrance way, a spacious living room through to the dining room and a kitchen.

To the first floor is an inviting landing area through to three well-proportioned bedrooms with ample storage and a three-piece bathroom with a tub-shower combination, a hand wash basin.

Externally, the property benefits from a rear yard, a front garden and off-road parking is available to the front.

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 💪