2 Bed Terraced House, Refurb/BRRR, Bishop Auckland, DL14 6BW, £45,000

18 Frances Terrace, Bishop Auckland, DL14 6BW - 7 views - 2 months ago

Under Offer
Refurb/BRRR
ROI: 4%
~68 m²
+6 photos

ValuationUndervalued

Sold Prices£34K - £190K
Sold Prices/m²£468/m² - £2.3K/m²

 

 

Square Metres

~68.11 m²
Price/m²£661/m²

Value Estimate

£46,350
BMV3%

 

 

End Value (After Refurb)

£86,216

Uplift in Value

+92%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£11,250

Stamp Duty & Legal Fees

£2,550

Refurb Costs

£26,155

Bridging Loan Interest

£1,181

Total Cash In

£42,886

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£86,216

Mortgage (After Refinance)

£64,662

Mortgage LTV

75%

Cash Released

£30,912

Cash Left In

£11,974

Equity

£21,554

Rent Range

£375 - £600

Rent Estimate

£526

Running Costs/mo

£395

Cashflow/mo

£131

Cashflow/yr

£1,576

ROI

4%

Gross Yield

14%

Local Sold Prices

50 sold prices from £34K to £190K, average is £74K. £468/m² to £2.3K/m², average is £900/m².

PriceDateDistanceAddressBeds 
£63.5K12/200.04 mi33, Frances Terrace, Bishop Auckland, County Durham DL14 6BW2
£90K04/230.05 mi16, Helena Terrace, Bishop Auckland, County Durham DL14 6BP2
£49K01/210.09 mi27, Beaumont Street, Bishop Auckland, Durham DL14 6BJ2
£63K06/210.13 mi9, Chatsworth Avenue, Bishop Auckland, County Durham DL14 6AX2
£164K12/200.15 mi38, Walmer Avenue, Bishop Auckland, Durham DL14 6NW2
£63K01/210.18 mi60, Seymour Street, Bishop Auckland, Durham DL14 6JD2
£100K10/210.2 mi3a, Hardisty Crescent, Bishop Auckland, Durham DL14 6PG2
£83.5K07/210.21 mi7, Irvin Avenue, Bishop Auckland, County Durham DL14 6QG2
£75K08/210.22 mi4, Bedford Place, Bishop Auckland, County Durham DL14 6TQ2
£75K08/210.22 mi4, Bedford Place, Bishop Auckland, County Durham DL14 6TQ2
£74K02/230.22 mi8, Bedford Place, Bishop Auckland, County Durham DL14 6TQ2
£74K03/210.22 mi9, Bedford Place, Bishop Auckland, County Durham DL14 6TQ2
£70K06/210.26 mi3, Suffolk Place, Bishop Auckland, County Durham DL14 6UT2
£35K07/210.27 mi5, James Street, Bishop Auckland, Durham DL14 6HL2
£98K03/210.27 mi54, Murphy Crescent, Bishop Auckland, County Durham DL14 6QH2
£75K11/210.3 mi12, Oaklea Terrace, Bishop Auckland, Durham DL14 6HH2
£69.5K04/210.3 mi9, Oaklea Terrace, Bishop Auckland, Durham DL14 6HH2
£74K09/210.3 mi3, Oaklea Terrace, Bishop Auckland, Durham DL14 6HH2
£80.8K05/230.3 mi9, Oaklea Terrace, Bishop Auckland, County Durham DL14 6HH2
£155K03/210.31 mi5, Dudley Grove, Bishop Auckland, Durham DL14 6NB2
£57.5K05/210.33 mi33, Hampshire Place, Bishop Auckland, County Durham DL14 6UX2
£44K10/210.38 mi12, Douthwaite Road, Bishop Auckland, Durham DL14 6QP2
£145K04/210.38 mi3, Westlea Avenue, Bishop Auckland, County Durham DL14 6HE2
£175K11/220.44 mi92, Escomb Road, Bishop Auckland, County Durham DL14 6TZ2
£147K05/230.45 mi24, Shawbrow View, Bishop Auckland, County Durham DL14 6XH2
£90K01/210.45 mi57, Shawbrow View, Bishop Auckland, County Durham DL14 6XH2
£125K02/210.45 mi30, Shawbrow View, Bishop Auckland, County Durham DL14 6XH2
£55.3K04/210.46 mi1, Oak Terrace, Bishop Auckland, County Durham DL14 6ES2
£55.3K04/210.46 mi1, Oak Terrace, Bishop Auckland, County Durham DL14 6ES2
£55.3K04/210.46 mi1, Oak Terrace, Bishop Auckland, County Durham DL14 6ES2
£72.5K06/230.46 mi7, Leopold Place, Bishop Auckland, County Durham DL14 6EJ2
£60K01/210.47 mi13, Leopold Place, Bishop Auckland, County Durham DL14 6EJ2
£158.5K12/220.48 mi49, Shawbrow View, Bishop Auckland, County Durham DL14 6XH2
£72K02/230.48 mi6, Sun Street, Bishop Auckland, County Durham DL14 6DP2
£38K08/210.52 mi18, Sun Street, Bishop Auckland, County Durham DL14 6DP2
£180K02/230.53 mi70, St Andrews Road, Bishop Auckland, County Durham DL14 6RY2
£34K11/200.53 miPierremont, Blackett Street, Bishop Auckland, Durham DL14 7TD2
£90K03/230.53 mi38, St Andrews Road, Bishop Auckland, County Durham DL14 6RY2
£45K06/230.53 mi2, Dixon Street, Bishop Auckland, County Durham DL14 6DW2
£190K03/210.53 mi8, Pollards Drive, Bishop Auckland, County Durham DL14 6UE2
£120K05/210.58 mi26, Wesley Grove, Bishop Auckland, County Durham DL14 7TG2
£123K05/210.58 mi25, Wesley Grove, Bishop Auckland, Durham DL14 7TG2
£112K02/210.59 mi57, Etherley Lane, Bishop Auckland, County Durham DL14 7QZ2
£48K02/210.62 mi6, Hillbeck Street, Bishop Auckland, County Durham DL14 6SF2
£61K12/200.63 mi10, Hutchinson Street, Bishop Auckland, Durham DL14 7DD2
£40K11/200.65 mi66, West Lane, Bishop Auckland, County Durham DL14 0QY2
£61K05/230.67 mi56, Dere Avenue, Bishop Auckland, County Durham DL14 9SY2
£85K12/200.67 mi20, Dere Avenue, Bishop Auckland, County Durham DL14 9SY2
£70K01/210.67 mi18, Dere Avenue, Bishop Auckland, Durham DL14 9SY2
£83K02/230.69 mi7, Richardson Avenue, Bishop Auckland, County Durham DL14 6TP2

Local Rents

19 rents from £375/mo to £600/mo, average is £525/mo.

RentDateDistanceAddressBeds 
£55001/240.05 mi-2
£57504/240.05 miHelena Terrace, Bishop Auckland, County Durham, DL142
£57504/240.05 miHelena Terrace, Bishop Auckland, County Durham2
£49510/230.08 mi-2
£54510/240.08 mi-2
£57503/250.1 mi-2
£48003/250.12 mi-2
£57504/240.13 miKensington Heights, Bishop Auckland, Bishop Auckland, DL14 2
£50012/240.21 miArran Court, Bishop Auckland2
£60003/240.25 miHigh Melbourne Street, Bishop Auckland2
£47303/250.33 mi-2
£52510/230.4 mi-2
£57512/240.41 mi-2
£45004/240.53 miBlackett Street, Bishop Auckland, Bishop Auckland, DL14 2
£55004/240.58 miAintree Drive, Bishop Auckland2
£52503/240.58 miAintree Drive, Bishop Auckland2
£52504/240.58 miAintree Drive, Bishop Auckland2
£47512/240.61 miHillbeck Street, County Durham, DL142
£37504/240.62 miHillbeck Street, Bishop Auckland , DL14 6SF2

Local Area Statistics

Population in DL14

37,237

Population in Bishop Auckland

51,200

Town centre distance

0.31 miles away

Nearest school

0.20 miles away

Nearest train station

0.47 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+7%

Sales demand

Seller's market

Capital growth (5yrs)

-4%

Property History

Listed for £45,000

February 15, 2025

Description

  • 2 Bed Mid Terrace +
  • Investment Opportunity +
  • Gas Central Heating +
  • Popular Location +
  • Close To All Local Schools +
  • Within Walking Distance of Town Centre +
  • Excellent Transport Links +
  • No Onward Chain +

Offered For Sale with No Onward Chain, Rea Estates welcome to the sales market this spacious Two Bedroom Mid Terrace property, situated within walking distance of Bishop Auckland town centre, which is home to the spectacular open air night show Kynren – An Epic Tale of England.
Bishop Auckland General Hospital, Railway Station, all local schools, shops and recreational facilities are within easy reach.
Warmed via Gas Central Heating, the internal layout briefly comprises, Entrance Lobby, Lounge with open plan access to Dining Room and Kitchen.
To the first floor there are 2 Double Bedrooms and a Family Bathroom.
Externally to the front of the house there is a wall enclosed forecourt and to the rear a courtyard with gated access to the rear lane.
In our opinion this property, which is competitively priced to reflect that a degree of modernisation is required, should prove of great interest to a variety of purchasers and therefore an early viewing is highly recommended.

Entrance Lobby Timber entrance door to lobby with staircase rising to the first floor and door to:

Lounge: 11'10 x 11'09 (3.61m x 3.58m)
Spacious lounge with walk in bay window to the front elevation, cornice to ceiling and radiator. Square arch to dining room.

Dining Room:
15'0 x 9'10 (4.57m x 3.0m)
The dining room provides ample space for a family size table and chairs. Window to the rear elevation, cornice, radiator, under stair storage cupboard and door to kitchen.

Kitchen:
12'03 x 6'03 (3.73m x 1.91m)
Base and wall units, stainless steel sink unit, radiator and wall mounted gas central heating boiler. Window and door opening to the side elevation.

First Floor Landing
Access to the loft space via a pull down ladder and doors to:

Family Bathroom:
6'09 x 6'01 (2.06m x 1.85m)
Comprising, panelled bath, low level w/c and pedestal wash hand basin. Radiator and obscure glazed window to the rear elevation.

Bedroom One: 15'01 max x 11'10 (4.60m x 3.61m)
A well proportioned double room providing ample space for a range of free standing bedroom furniture. Window to the front elevation, picture rail and radiator.

Bedroom Two: 9'11 x 8'06 (3.02m x 2.59m)
Window overlooking the rear courtyard, cornice, picture rail and radiator.

Externally
To the front of the house there is an enclosed forecourt garden. To the rear an enclosed courtyard with gated access to the lane.

Agent Details

REA Estates, Bishop Auckland - Sales

01388 311719

Next Steps?

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