2 Bed Terraced House, Refurb/BRRR, Bishop Auckland, DL14 8PW, £50,000

Frederick Street, Coundon, Durham, DL14 8PW - 15 views - 2 months ago

Motivated
Cash
Refurb/BRRR
ROI: 4%
~68 m²
+10 photos

ValuationOvervalued

Sold Prices£23.5K - £290K
Sold Prices/m²£283/m² - £3.8K/m²

 

 

Square Metres

~68.11 m²
Price/m²£734/m²

Value Estimate

£46,435

 

 

End Value (After Refurb)

£73,862

Uplift in Value

+34%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£12,500

Stamp Duty & Legal Fees

£2,850

Refurb Costs

£26,155

Bridging Loan Interest

£1,313

Total Cash In

£44,567

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£73,862

Mortgage (After Refinance)

£55,397

Mortgage LTV

75%

Cash Released

£17,897

Cash Left In

£26,670

Equity

£18,466

Rent Range

£375 - £575

Rent Estimate

£488

Running Costs/mo

£348

Cashflow/mo

£140

Cashflow/yr

£1,675

ROI

4%

Gross Yield

12%

Local Sold Prices

51 sold prices from £23.5K to £290K, average is £62.5K. £283/m² to £3.8K/m², average is £724/m².

PriceDateDistanceAddressBeds 
£28K05/210.03 mi6, Gurlish West, Coundon, Bishop Auckland, Durham DL14 8PN2
£36K01/210.03 mi22, Gurlish West, Coundon, Bishop Auckland, County Durham DL14 8PN2
£70K02/210.26 mi30, Wharton Street, Coundon, Bishop Auckland, County Durham DL14 8PB2
£43K12/210.26 mi41, Wharton Street, Coundon, Bishop Auckland, Durham DL14 8PB2
£73K04/230.26 mi79, Wharton Street, Coundon, Bishop Auckland, County Durham DL14 8PB2
£145.9K12/220.27 mi12, Brinsley Court, Coundon, Bishop Auckland, County Durham DL14 8LQ2
£125K03/210.27 mi12, Brinsley Court, Coundon, Bishop Auckland, Durham DL14 8LQ2
£31.5K11/200.35 mi7, Hillside Road, Coundon, Bishop Auckland, Durham DL14 8LS2
£30.5K01/210.38 mi2, Greenwells Garth, Coundon, Bishop Auckland, County Durham DL14 8LR2
£65K04/230.39 mi51, Collingwood Street, Coundon, Bishop Auckland, County Durham DL14 8LH2
£66.5K06/230.41 mi8, Clyde Terrace, Coundon, Bishop Auckland, County Durham DL14 8NJ2
£23.5K01/210.41 mi24, Howlish View, Coundon, Bishop Auckland, Durham DL14 8ND2
£68K11/210.48 mi56, Leeholme Road, Leeholme, Bishop Auckland, County Durham DL14 8HJ2
£60K06/230.5 mi110, Collingwood Street, Coundon, Bishop Auckland, County Durham DL14 8LL2
£58K06/230.53 mi10, Mendip Walk, Coundon, Bishop Auckland, County Durham DL14 8JY2
£66K03/210.54 mi7, Grange View, Coundon Gate, Bishop Auckland, County Durham DL14 8QJ2
£55K08/210.57 mi1, Kent Street, Leeholme, Bishop Auckland, Durham DL14 8HS2
£55K08/210.57 mi1, Kent Street, Leeholme, Bishop Auckland, Durham DL14 8HS2
£42.5K03/210.58 mi14, Kent Street, Leeholme, Bishop Auckland, County Durham DL14 8HS2
£60K02/230.66 mi55, Leeholme Road, Leeholme, Bishop Auckland, County Durham DL14 8HL2
£177K04/211.2 mi19, Westcott Drive, Auckland Park, Bishop Auckland, County Durham DL14 8SG2
£108K05/211.24 mi7, Brockwell Court, Coundon Grange, Bishop Auckland, County Durham DL14 8XH2
£108K05/211.24 mi7, Brockwell Court, Coundon Grange, Bishop Auckland, County Durham DL14 8XH2
£108K05/211.24 mi7, Brockwell Court, Coundon Grange, Bishop Auckland, County Durham DL14 8XH2
£31K08/211.39 mi10, Edward Street, Eldon Lane, Bishop Auckland, Durham DL14 8TN2
£69K08/211.4 mi25, Queens Road, Bishop Auckland, County Durham DL14 7LX2
£65K06/231.44 mi5, Office Row, Eldon, Bishop Auckland, County Durham DL14 8XA2
£27.5K04/211.44 mi15, Oxford Street, Eldon Lane, Bishop Auckland, County Durham DL14 8SY2
£30K02/231.45 mi19, South Row, Eldon, Bishop Auckland, County Durham DL14 8UT2
£290K05/231.47 mi14, Whitworth Meadows, Spennymoor, County Durham DL16 7BH2
£85K03/231.47 mi8, South Church Road, Bishop Auckland, County Durham DL14 7JY2
£50K05/231.48 mi3, Railway Houses, Eldon Lane, Bishop Auckland, County Durham DL14 8TB2
£52K02/231.51 mi15, Pasture Row, Eldon, Bishop Auckland, County Durham DL14 8UZ2
£45K07/231.51 mi9, Pasture Row, Eldon, Bishop Auckland, County Durham DL14 8UZ2
£45K06/231.52 mi2, Dixon Street, Bishop Auckland, County Durham DL14 6DW2
£48K02/211.53 mi6, Hillbeck Street, Bishop Auckland, County Durham DL14 6SF2
£66K11/221.53 mi7, Rosemount Court, Bishop Auckland, County Durham DL14 6XN2
£38K08/211.54 mi18, Sun Street, Bishop Auckland, County Durham DL14 6DP2
£62.5K06/231.55 mi4, James Terrace, Coronation, Bishop Auckland, County Durham DL14 8SH2
£78.5K07/211.55 mi2, Wear Chare, Bishop Auckland, County Durham DL14 7QQ2
£63K04/211.56 mi12, David Terrace, Coronation, Bishop Auckland, Durham DL14 8SJ2
£72K02/231.57 mi6, Sun Street, Bishop Auckland, County Durham DL14 6DP2
£178K08/211.58 mi61, South View, Spennymoor, Durham DL16 7AJ2
£90K03/231.59 mi38, St Andrews Road, Bishop Auckland, County Durham DL14 6RY2
£90K03/231.59 mi3, Oakdene Terrace, Spennymoor, County Durham DL16 7BA2
£180K02/231.61 mi70, St Andrews Road, Bishop Auckland, County Durham DL14 6RY2
£105K11/221.61 mi9, Eden Terrace, Kirk Merrington, Spennymoor, County Durham DL16 7JP2
£60K07/211.62 mi44, Durham Street, Middlestone Moor, Spennymoor, Durham DL16 7AT2
£55.3K04/211.63 mi1, Oak Terrace, Bishop Auckland, County Durham DL14 6ES2
£55.3K04/211.63 mi1, Oak Terrace, Bishop Auckland, County Durham DL14 6ES2
£55.3K04/211.63 mi1, Oak Terrace, Bishop Auckland, County Durham DL14 6ES2

Local Rents

24 rents from £375/mo to £575/mo, average is £520/mo.

RentDateDistanceAddressBeds 
£55012/240.02 mi-2
£50006/240.02 mi-2
£50012/240.04 mi-2
£50012/240.04 mi-2
£56510/230.07 mi-2
£57501/240.07 mi-2
£54004/240.07 mi-2
£54012/240.07 mi-2
£54012/240.07 mi-2
£54012/240.07 mi-2
£55004/240.26 miWharton Street, Bishop Auckland2
£45004/240.36 miSouth View, Coundon, Bishop Auckland2
£45008/240.37 mi-2
£42004/240.39 miCollingwood Street, Coundon, Bishop Auckland2
£50012/240.39 mi-2
£54003/250.39 mi-2
£54003/250.39 mi-2
£54006/240.4 mi-2
£54006/240.4 mi-2
£37503/240.4 mi-2
£37507/240.4 mi-2
£38503/250.44 mi-2
£38502/250.44 mi-2
£42503/240.5 miCleveland View, Coundon, Bishop Auckland, DL14 8NE2

Local Area Statistics

Population in DL14

37,237

Population in Bishop Auckland

51,200

Town centre distance

2.31 miles away

Nearest school

0.40 miles away

Nearest train station

1.73 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+7%

Sales demand

Seller's market

Capital growth (5yrs)

-4%

Property History

Price changed to £50,000

March 20, 2025

Listed for £55,000

February 18, 2025

Floor Plans

Description

  • Council Tax band A, Freehold +
  • Spacious Living Room +
  • Fitted Kitchen +
  • Two Bedrooms +
  • Bathroom +
  • Off Road Parking +
  • Viewing Advised +
  • CASH BUYERS ONLY +
  • In Need of Refurbishment +

CASH BUYERS ONLY This two-bedroom end-terraced home in Coundon features a fitted kitchen and off-road parking to the side. It’s an ideal opportunity for those looking to add their personal touch or take on a renovation project.

This end of terraced home available to Cash Buyers Only is located in Coundon with close proximity to a range of amenities, schools, shopping facilities, food/drink establishments and more. The area also offers excellent road and transport links for travel both locally and further afield.

The accommodation briefly comprises, a spacious living room and a kitchen.

To the first floor is an inviting landing area through to two well-proportioned bedrooms and a bathroom

Externally, the property benefits from off-road parking is available to the side.

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?

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