2 Bed Bungalow, Refurb/BRRR, Chester-le-Street, DH2 3EA, £199,950

Caragh Road, Chester Le Street, DH2 3EA - 2 views - 3 months ago

Leasehold

Refurb/BRRR

~68 m²

+13 photos

ValuationOvervalued

Sold Prices	£50K - £235K
Sold Prices/m²	£852/m² - £3.9K/m²

Square Metres	~68.11 m²
Price/m²	£2.9K/m²
Value Estimate	£98,237£98,237

End Value (After Refurb)	£197,000£197,000

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£49,988£49,988
Stamp Duty & Legal Fees	£7,199£7,199
Refurb Costs	£26,155£26,155
Bridging Loan Interest	£5,249£5,249
Total Cash In	£90,339£90,339

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£197,000£197,000
Mortgage (After Refinance)	£147,750£147,750
Mortgage LTV	75%75%
Cash Left In	£90,339£90,339
Equity	£49,250£49,250
Rent Range	£450 - £1,275£450 - £1,275
Rent Estimate	£676
Running Costs/mo	£771£771
Cashflow/mo	£-95£-95
Cashflow/yr	£-1,138£-1,138
Gross Yield	4%4%

Local Sold Prices

50 sold prices from £50K to £235K, average is £107K. £852/m² to £3.9K/m², average is £1.4K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£235K	03/23	0.05 mi	7, Caragh Road, Chester Le Street, County Durham DH2 3EA	£3,486	67	2	Detached House
£205K	11/21	0.07 mi	2, Caragh Road, Chester Le Street, County Durham DH2 3EA	£3,254	63	2	Semi-Detached House
£160K	03/21	0.11 mi	72, Rydal Road, Chester Le Street, County Durham DH2 3DT	-	-	2	Semi-Detached House
£165K	03/23	0.15 mi	20, Thirlmere Avenue, Chester Le Street, County Durham DH2 3ED	-	-	2	Terraced House
£132.5K	04/21	0.15 mi	17, Thirlmere Avenue, Chester Le Street, Durham DH2 3ED	-	-	2	Semi-Detached House
£138K	10/20	0.19 mi	25, Grasmere Road, Chester Le Street, County Durham DH2 3DL	£2,604	53	2	Semi-Detached House
£169.9K	06/21	0.19 mi	25, Grasmere Road, Chester Le Street, County Durham DH2 3DL	£3,207	53	2	Semi-Detached House
£137K	03/21	0.21 mi	1, Esthwaite Avenue, Chester Le Street, County Durham DH2 3HA	£2,076	66	2	Terraced House
£192K	12/20	0.21 mi	2, Esthwaite Avenue, Chester Le Street, Durham DH2 3HA	£2,233	86	2	Semi-Detached House
£197K	02/23	0.23 mi	69, Grasmere Road, Chester Le Street, County Durham DH2 3EU	-	-	2	Semi-Detached House
£152.5K	06/21	0.24 mi	1, Katrine Close, Chester Le Street, County Durham DH2 3EF	£2,460	62	2	Semi-Detached House
£157K	11/20	0.25 mi	83, Grasmere Road, Chester Le Street, County Durham DH2 3EU	£2,181	72	2	Semi-Detached House
£118K	02/21	0.3 mi	13, Orchard Terrace, Chester Le Street, County Durham DH3 3JU	-	-	2	Terraced House
£178.4K	03/23	0.3 mi	14, Orchard Terrace, Chester Le Street, County Durham DH3 3JU	£1,854	96	2	Terraced House
£95K	01/23	0.31 mi	3, Ripon Street, Chester Le Street, County Durham DH3 3JR	£1,319	72	2	Terraced House
£85K	11/20	0.32 mi	30, Clifford Terrace, Chester Le Street, County Durham DH3 3JN	£1,371	62	2	Terraced House
£90K	04/23	0.33 mi	2, Wark Street, Chester Le Street, County Durham DH3 3JP	-	-	2	Terraced House
£65K	04/21	0.34 mi	18, Clifford Terrace, Chester Le Street, County Durham DH3 3JN	-	-	2	Terraced House
£65K	04/21	0.34 mi	18, Clifford Terrace, Chester Le Street, County Durham DH3 3JN	-	-	2	Terraced House
£70K	02/21	0.34 mi	27, Clifford Terrace, Chester Le Street, County Durham DH3 3JN	£1,111	63	2	Terraced House
£80K	12/22	0.36 mi	7, Clifford Street, Chester Le Street, County Durham DH3 3JW	£943	85	2	Semi-Detached House
£80.5K	01/21	0.36 mi	34, Clifford Street, Chester Le Street, County Durham DH3 3JW	£994	81	2	Terraced House
£170K	04/23	0.38 mi	3, Thropton Close, Chester Le Street, County Durham DH2 3HW	-	-	2	Detached House
£78K	03/23	0.38 mi	16, Allen Street, Chester Le Street, County Durham DH3 3JG	£1,159	67	2	Terraced House
£87K	04/23	0.38 mi	27, Allen Street, Chester Le Street, County Durham DH3 3JG	£1,261	69	2	Terraced House
£143K	04/23	0.39 mi	11, Jolliffe Street, Chester Le Street, County Durham DH3 3LX	£1,765	81	2	Terraced House
£75K	03/23	0.4 mi	8, Baden Street, Chester Le Street, County Durham DH3 3JQ	£1,442	52	2	Terraced House
£90K	02/23	0.41 mi	16, Baden Street, Chester Le Street, County Durham DH3 3JQ	£1,252	72	2	Terraced House
£83.5K	12/22	0.42 mi	15, Baden Street, Chester Le Street, County Durham DH3 3JQ	£1,128	74	2	Terraced House
£77K	01/21	0.45 mi	26, Gray Avenue, Chester Le Street, Durham DH2 2EL	£1,167	66	2	Terraced House
£90K	02/23	0.46 mi	5, Gray Avenue, Chester Le Street, County Durham DH2 2EL	£1,098	82	2	Terraced House
£85K	03/23	0.46 mi	22, Gray Avenue, Chester Le Street, County Durham DH2 2EL	£1,164	73	2	Terraced House
£116K	11/20	0.47 mi	21, Ashton Rise, Chester Le Street, Durham DH2 2JA	£1,966	59	2	Semi-Detached House
£131K	11/20	0.47 mi	3, Ashton Rise, Chester Le Street, Durham DH2 2JA	£2,079	63	2	Semi-Detached House
£81K	03/21	0.47 mi	11, Ernest Terrace, Chester Le Street, Durham DH3 3HR	£1,157	70	2	Terraced House
£140K	05/21	0.5 mi	16, George Street, Chester Le Street, Durham DH3 3NE	£1,894	74	2	Terraced House
£120K	06/23	0.51 mi	14, Weldon Terrace, Chester Le Street, County Durham DH3 3NG	£1,558	77	2	Terraced House
£79K	11/20	0.51 mi	5, Hemel Street, Chester Le Street, Durham DH3 3HP	£1,162	68	2	Terraced House
£65K	01/21	0.54 mi	6, Adelaide Street, Chester Le Street, County Durham DH3 3HY	£1,000	65	2	Terraced House
£195K	11/20	0.55 mi	20, Elvet Green, Chester Le Street, County Durham DH2 2ER	£3,197	61	2	Detached House
£91.5K	05/23	0.56 mi	20, Lambton Street, Chester Le Street, County Durham DH3 3NH	-	-	2	Terraced House
£125K	10/21	0.57 mi	1, Castle Riggs, Chester Le Street, Durham DH2 2DL	£2,119	59	2	Terraced House
£65K	01/23	0.57 mi	6, Finchdale Terrace, Chester Le Street, County Durham DH3 3DL	-	-	2	Terraced House
£170K	01/21	0.6 mi	7, Ingram Close, Chester Le Street, County Durham DH2 3JW	£3,108	55	2	Semi-Detached House
£68K	08/21	0.6 mi	17, Pine Street, Chester Le Street, County Durham DH3 3DW	-	-	2	Terraced House
£58K	06/21	0.61 mi	23, Victor Street, Chester Le Street, Durham DH3 3DP	£951	61	2	Terraced House
£50K	05/23	0.61 mi	10, Victor Street, Chester Le Street, County Durham DH3 3DP	-	-	2	Terraced House
£230K	03/23	0.61 mi	17, Lilburn Close, Chester Le Street, County Durham DH2 3TN	£3,898	59	2	Semi-Detached House
£98K	04/23	0.63 mi	9, Clarence Terrace, Chester Le Street, County Durham DH3 3DG	£852	115	2	Semi-Detached House
£120K	01/21	0.64 mi	73, Lancaster Terrace, Chester Le Street, Durham DH3 3NP	£1,306	92	2	Terraced House

Local Rents

20 rents from £450/mo to £1.3K/mo, average is £650/mo.

Rent	Date	Distance	Address	Beds	Type
£695	12/24	0.26 mi	Orchard Terrace, Chester Le Street, DH3	2	Terraced House
£595	12/24	0.36 mi	Jolliffe Street, Chester Le Street, Dh3	2	Flat
£595	12/24	0.38 mi	Allen Street, Chester-le-Street, County Durham	2	Terraced House
£625	04/25	0.39 mi	-	2	Terraced House
£595	12/24	0.42 mi	Chatton Close, Chester Le Street, Durham, DH2	2	Flat
£595	12/24	0.43 mi	Robertson Court, Chester Le Street, Durham, DH3	2	Flat
£725	09/23	0.47 mi	-	2	Flat
£650	12/24	0.55 mi	-	2	Terraced House
£450	12/24	0.59 mi	Poplar Street, Chester Le Street, Durham, DH3	2	Terraced House
£550	12/24	0.65 mi	Hilda Terrace, Chester Le Street, Durham, DH2	2	Terraced House
£670	08/24	0.66 mi	-	2	Terraced House
£750	12/24	0.67 mi	Central Exchange, Chester le Street	2	Flat
£650	12/24	0.71 mi	Norton Close Waldridge Park Chester Le Street	2	Flat
£650	04/25	0.75 mi	-	2	Flat
£625	12/24	0.76 mi	High Chare, Chester Le Street, County Durham, DH3	2	Flat
£1,275	06/24	0.84 mi	-	2	Flat
£675	12/24	0.86 mi	-	2	Terraced House
£650	12/24	0.88 mi	The Anchorage, Chester Le Street, County Durham, DH3	2	Flat
£675	12/24	1.04 mi	Prospect Street, Chester Le Street, County Durham	2	Terraced House
£750	12/24	1.12 mi	-	2	Flat

Local Area Statistics

Population in DH2	30,57930,579
Population in Chester-le-Street	56,37756,377
Town centre distance	0.91 miles away0.91 miles away
Nearest school	0.50 miles away0.50 miles away
Nearest train station	0.70 miles away0.70 miles away

Rental demand	Tenant's marketTenant's market
Rental growth (12m)	-9%-9%
Sales demand	Seller's marketSeller's market
Capital growth (5yrs)	+12%+12%

Property History

Listed for £199,950

February 8, 2025

Floor Plans

Description

Spacious 2 Bed Link-Detached Bungalow +
No Onward Chain +
Desirable Area +
Close To Ammenities / Town Centre +
Generous Plot +
Large Garage +
Requires Some Modernisation +

SENSIBLE OFFERS CONSIDERED. LOCATED ON CARAGH ROAD OFF GARDEN FARM ESTATE. SPACIOUS 2 BEDROOM LINK DETACHED. GARAGE. GARDENS

Located on the small, well regarded Caragh Road area of Garden Farm, Chester le Street. This spacious 2 bedroom link detached bungalow is priced for a quick sale and is sure to impress. Sitting on a generous plot with gardens to the front and rear along with a driveway which leads to a larger than average single garage.

An entrance hallway is accessed via a double glazed Upvc door, a combination boiler is located within a cupboard in the hallway. Ample space is within the lounge / diner (17'5 x 13'6) to accommodate sofas and dining furniture. A feature fireplace is within the lounge area which offers an electric fire and marble inset. To the rear ample wall and base units are installed within the kitchen, again provides space for a breakfast table and sits looking over the rear gardens.

2 double bedrooms are available which provide space for larger style beds and wardrobes. A walk in shower has been added to the bathroom which has a twin headed shower unit, storage cupboard and also has the access to the attic.

A garage to the side is accessed via the kitchen and the double doors to the front. Space for the washing machine and tumble dryer are within the garage. A door leads to the rear garden which is lawned, pebbled and provides a shed for additional storage.

Caragh Road is a desirable area off Garden farm estate, offering a more rural feel with tree lined streets. Chester le Street town centre is a short distance away where a vast array of shopping and recreational facilities are available. A local range of village stores are close by along with a public house.

EPC GRADE = C

COUNCIL TAX BAND = C

Property comprises.

Entrance Hallway. Accessed via a Upvc door to the front, storage cupboard with a wall mounted Baxi combination boiler .

Lounge / Dining Room. 17'5 x 13'6 (5.31m x 4.12m) Double glazed window to front, fire place with electric fire and marble inset, coving, radiator, tv and telephone point.

Kitchen. 12'2 x 10'9 (3.72m x 3.27m) Double glazed window to rear, sin and drainer, mixer tap, radiator and laminate flooring.

Bedroom 1. 15'11 x 10'4 (4.86m x 3.15m) Double glazed window to rear and radiator.

Bedroom 2. 12' x 8'6 (3.67m x 2.60m) Double glazed window to side and radiator.

Bathroom. 8'2 x 6'4 (2.48m x 1.94m) Double glazed window to side, walk in shower enclosure, WC, hand basin, part tiled and cladded walls, tiled flooring, storage cupboard and loft access.

Garage. 22' x 8'6 (6.7m x 2.59m) Double wooden doors to front, Upvc door to garden, radiator, plumbed for washing machine, space for tumble dryer, double glazed window to side and fuse board.

Externally there's a driveway and gardens to the front, easy maintained garden to rear with lawns, pebbled area and shed.

Agent Details

Copeland Residential, Chester Le Street

0191 625 0991

Next Steps?

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