2 Bed Terraced House, Refurb/BRRR, Middlesbrough, TS1 4PU, £47,000

Essex Street, Middlesbrough, TS1 4PU - 3 views - 2 months ago

Sold STC

Refurb/BRRR

ROI: 11%

~68 m²

+2 photos

ValuationOvervalued

Sold Prices	£30K - £98K
Sold Prices/m²	£390/m² - £2.1K/m²

Square Metres	~68.11 m²
Price/m²	£690/m²
Value Estimate	£41,840£41,840

End Value (After Refurb)	£50,843£50,843
Uplift in Value	+8%+8%

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£11,750£11,750
Stamp Duty & Legal Fees	£2,610£2,610
Refurb Costs	£26,876£26,876
Bridging Loan Interest	£1,234£1,234
Total Cash In	£44,220£44,220

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£50,843£50,843
Mortgage (After Refinance)	£38,133£38,133
Mortgage LTV	75%75%
Cash Released	£2,883£2,883
Cash Left In	£41,337£41,337
Equity	£12,711£12,711
Rent Range	£450 - £3,900£450 - £3,900
Rent Estimate	£741
Running Costs/mo	£327£327
Cashflow/mo	£414£414
Cashflow/yr	£4,967£4,967
ROI	11%11%
Gross Yield	19%19%

Local Sold Prices

50 sold prices from £30K to £98K, average is £48.6K. £390/m² to £2.1K/m², average is £657/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£59.3K	10/21	0 mi	94, Essex Street, Middlesbrough TS1 4PU	-	-	2	Terraced House
£38K	07/21	0 mi	124, Essex Street, Middlesbrough TS1 4PU	£417	91	2	Terraced House
£30K	04/21	0 mi	84, Essex Street, Middlesbrough TS1 4PU	£390	77	2	Terraced House
£45K	03/21	0 mi	56, Essex Street, Middlesbrough TS1 4PU	£682	66	2	Terraced House
£40K	10/20	0.01 mi	61, Essex Street, Middlesbrough TS1 4PT	£526	76	2	Terraced House
£43.5K	07/21	0.01 mi	121, Essex Street, Middlesbrough TS1 4PT	£604	72	2	Terraced House
£50K	05/23	0.06 mi	112, Costa Street, Middlesbrough TS1 4PL	£746	67	2	Terraced House
£56K	01/21	0.06 mi	74, Costa Street, Middlesbrough TS1 4PL	£683	82	2	Terraced House
£38K	12/20	0.06 mi	66, Costa Street, Middlesbrough TS1 4PL	£521	73	2	Terraced House
£44K	06/21	0.07 mi	97, Kildare Street, Middlesbrough TS1 4QY	£657	67	2	Terraced House
£55K	04/22	0.08 mi	123, Kildare Street, Middlesbrough TS1 4RE	£688	80	2	Semi-Detached House
£62K	12/21	0.09 mi	94, Aire Street, Middlesbrough TS1 4PG	£881	70	2	Terraced House
£43K	10/20	0.09 mi	73, Aire Street, Middlesbrough TS1 4PG	£614	70	2	Terraced House
£53K	04/21	0.09 mi	72, Aire Street, Middlesbrough TS1 4PG	£746	71	2	Terraced House
£47K	06/21	0.11 mi	157, Crescent Road, Middlesbrough TS1 4QT	£573	82	2	Terraced House
£40K	12/20	0.12 mi	66, Warwick Street, Middlesbrough TS1 4PA	-	-	2	Terraced House
£65K	08/21	0.12 mi	169, Ayresome Street, Middlesbrough TS1 4PY	£867	75	2	Terraced House
£47.3K	04/21	0.13 mi	78, Warwick Street, Middlesbrough TS1 4PA	£630	75	2	Terraced House
£50K	11/20	0.14 mi	30, Harford Street, Middlesbrough TS1 4PR	£595	84	2	Terraced House
£39.5K	02/21	0.14 mi	19, Harford Street, Middlesbrough TS1 4PR	£590	67	2	Terraced House
£64K	09/23	0.14 mi	39, Kildare Street, Middlesbrough TS1 4RF	£877	73	2	Terraced House
£72K	07/23	0.14 mi	28, Kildare Street, Middlesbrough TS1 4RF	£900	80	2	Terraced House
£98K	10/23	0.14 mi	34, The Turnstile, Middlesbrough TS5 6BY	£1,815	54	2	Terraced House
£75K	09/23	0.15 mi	38, Costa Street, Middlesbrough TS1 4PH	£949	79	2	Terraced House
£38K	05/21	0.15 mi	22, Costa Street, Middlesbrough TS1 4PH	£551	69	2	Terraced House
£50K	10/20	0.15 mi	43, Costa Street, Middlesbrough TS1 4PH	£602	83	2	Terraced House
£37.5K	11/20	0.16 mi	17, Wicklow Street, Middlesbrough TS1 4RG	£535	70	2	Terraced House
£40K	05/21	0.16 mi	7, Wicklow Street, Middlesbrough TS1 4RG	-	-	2	Terraced House
£46K	08/23	0.16 mi	15, Wicklow Street, Middlesbrough TS1 4RG	£730	63	2	Terraced House
£37.5K	11/20	0.16 mi	17, Wicklow Street, Middlesbrough TS1 4RG	£535	70	2	Terraced House
£70K	05/23	0.16 mi	20, Wicklow Street, Middlesbrough TS1 4RG	£972	72	2	Terraced House
£36.5K	10/20	0.16 mi	23, Aire Street, Middlesbrough TS1 4PQ	£514	71	2	Terraced House
£60K	05/23	0.17 mi	51, Longford Street, Middlesbrough TS1 4RP	£770	78	2	Terraced House
£40K	04/21	0.18 mi	5, Meath Street, Middlesbrough TS1 4RS	£588	68	2	Terraced House
£53K	10/21	0.18 mi	27, Meath Street, Middlesbrough TS1 4RS	£768	69	2	Terraced House
£36K	03/21	0.18 mi	30, Meath Street, Middlesbrough TS1 4RS	£522	69	2	Terraced House
£50K	12/22	0.18 mi	42, Meath Street, Middlesbrough TS1 4RS	£694	72	2	Terraced House
£55K	12/22	0.19 mi	8, Costa Street, Middlesbrough TS1 4PH	£688	80	2	Terraced House
£85K	12/20	0.19 mi	22, The Midfield, Middlesbrough TS5 6BU	£2,125	40	2	Terraced House
£95K	06/23	0.19 mi	1, The Midfield, Middlesbrough TS5 6BU	£1,464	65	2	Semi-Detached House
£43K	03/21	0.21 mi	3, Carlow Street, Middlesbrough TS1 4SE	£597	72	2	Terraced House
£34K	11/20	0.21 mi	29, Carlow Street, Middlesbrough TS1 4SE	£415	82	2	Terraced House
£62.5K	07/23	0.21 mi	45, Carlow Street, Middlesbrough TS1 4SE	-	-	2	Terraced House
£92K	09/21	0.22 mi	25, Ayresome Park Road, Middlesbrough TS5 6BF	-	-	2	Semi-Detached House
£82K	11/20	0.22 mi	41, Ayresome Park Road, Middlesbrough TS5 6BF	£1,439	57	2	Terraced House
£34K	04/21	0.22 mi	4, Enfield Street, Middlesbrough TS1 4EH	£557	61	2	Terraced House
£37.5K	04/21	0.22 mi	40, Enfield Street, Middlesbrough TS1 4EH	£507	74	2	Terraced House
£70K	07/23	0.23 mi	18, Finsbury Street, Middlesbrough TS1 4JR	£1,000	70	2	Terraced House
£55K	08/21	0.23 mi	7, Falkland Street, Middlesbrough, Redcar And Cleveland TS1 4JH	£1,038	53	2	Terraced House
£35K	11/20	0.23 mi	2, Falkland Street, Middlesbrough TS1 4JH	£547	64	2	Terraced House

Local Rents

35 rents from £450/mo to £3.9K/mo, average is £650/mo.

Rent	Date	Distance	Address	Beds	Type
£625	10/24	0.01 mi	Essex Street, Middlesbrough	2	Flat
£500	10/24	0.02 mi	Surrey Street, Middlesbrough, TS1 4QA	2	Terraced House
£650	10/24	0.08 mi	-	2	Terraced House
£650	03/25	0.1 mi	-	2	Terraced House
£700	01/25	0.15 mi	-	2	Terraced House
£625	10/24	0.16 mi	Clough Close, Middlesbrough, North Yorkshire, TS5 5DW	2	Flat
£800	03/25	0.16 mi	-	2	Flat
£800	01/25	0.16 mi	-	2	Terraced House
£500	10/24	0.17 mi	Longford Street, Middlesbrough, TS1 4RR	2	Flat
£780	03/25	0.19 mi	-	2	Terraced House
£600	10/24	0.2 mi	-	2	Terraced House
£600	10/24	0.21 mi	-	2	Terraced House
£700	03/25	0.21 mi	-	2	Terraced House
£575	01/25	0.22 mi	-	2	Terraced House
£895	10/24	0.24 mi	-	2	Terraced House
£650	12/24	0.24 mi	-	2	Flat
£650	04/25	0.24 mi	-	2	Flat
£500	10/24	0.24 mi	Brompton Street, Middlesbrough, North Yorkshire, TS5	2	Terraced House
£475	10/24	0.26 mi	Union Street, Middlesbrough, North Yorkshire, TS1	2	Flat
£750	10/24	0.27 mi	-	2	Terraced House
£600	11/24	0.29 mi	-	2	Terraced House
£595	10/24	0.32 mi	Caxton Street, Middlesbrough	2	Terraced House
£700	11/24	0.32 mi	-	2	Terraced House
£650	02/24	0.32 mi	-	2	Terraced House
£650	12/24	0.33 mi	-	2	Terraced House
£700	10/24	0.34 mi	15 Wentworth Street, Middlesbrough, North Yorkshire, TS1	2	Flat
£625	02/25	0.34 mi	-	2	Flat
£675	03/25	0.34 mi	-	2	Flat
£3,900	10/24	0.35 mi	Union Street, Middlesbrough, North Yorkshire, TS1	2	Flat
£450	10/24	0.35 mi	Union Street, Middlesbrough, North Yorkshire, TS1	2	Flat
£750	10/24	0.36 mi	18 Waverley Street, Middlesbrough, North Yorkshire, TS1	2	Flat
£563	10/24	0.47 mi	2 Bed Apartment On Wilton Street	2	Flat
£700	10/24	0.57 mi	-	2	Flat
£700	10/24	0.57 mi	The Avenue, Middlesbrough, TS5	2	Flat
£650	10/24	0.57 mi	Park Lane, Middlesbrough, TS1	2	Terraced House

Local Area Statistics

Population in TS1	16,98416,984
Population in Middlesbrough	189,245189,245
Town centre distance	2.54 miles away2.54 miles away
Nearest school	0.10 miles away0.10 miles away
Nearest train station	1.06 miles away1.06 miles away

Rental demand	Tenant's marketTenant's market
Rental growth (12m)	+8%+8%
Sales demand	Seller's marketSeller's market
Capital growth (5yrs)	+32%+32%

Property History

Listed for £47,000

February 3, 2025

Description

Double Glazing +
Gas Central Heating +
Rear Yard +
Open Plan Lounge Diner +
Kitchen +
Downstairs Bathroom +
2 Bedrooms +

IN NEED OF FULL REFURBISHMENT, THIS PROPERTY WAS SOLD OFF MARKET, SIMILAR DEALS ARE AVAILABLE, CONTACT US TODAY TO JOIN OUR MAILING LIST.

The Accommodation comprises of a Open Plan Lounge/Dining Room, Kitchen, There is also a Downstairs Bathroom, 2 First Floor Bedrooms.

At Joseph Harris Estate Agents we offer the following services:-

*Sales
*Lettings
*Investments
*Property Refurbishments

Agent Details

JOSEPH HARRIS ESTATE AGENTS LTD, Middlesborough

01642 056299

Next Steps?

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

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