2 Bed Terraced House, Refurb/BRRR, Consett, DH8 5DS, £75,000

Berry Edge Road, Consett, Durham, DH8 5DS - a month ago

Auction
Refurb/BRRR
ROI: 5%
~68 m²
+8 photos

ValuationFair Value











Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£18,750

Stamp Duty & Legal Fees

£3,450

Refurb Costs

£26,141

Bridging Loan Interest

£1,969

Total Cash In

£52,060

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£79,156

Mortgage (After Refinance)

£59,367

Mortgage LTV

75%

Cash Released

£3,117

Cash Left In

£48,943

Equity

£19,789

Rent Range

£475 - £900

Rent Estimate

£593

Running Costs/mo

£386

Cashflow/mo

£207

Cashflow/yr

£2,484

ROI

5%

Gross Yield

9%













Local Rents

23 rents from £475/mo to £900/mo, average is £600/mo.

RentDateDistanceAddressBeds 
£55012/240.05 miConstance Street, Consett, County Durham, DH82
£47512/240.07 mi-2
£60012/240.09 miThe Green, Consett, County Durham, DH82
£60012/240.11 mi-2
£72012/240.16 mi-2
£60012/240.2 mi-2
£90012/240.29 mi-2
£60012/240.29 mi-2
£52503/250.29 mi-2
£52512/240.29 miSouthernwood, Consett2
£60012/240.32 mi-2
£62512/240.33 miRosemary Close, Consett2
£79503/250.35 mi-2
£55012/240.36 mi-2
£67510/240.37 mi-2
£60012/240.38 mi-2
£47512/240.39 mi-2
£55012/240.39 mi-2
£50012/240.41 miBeverley Gardens, Consett, County Durham, DH82
£60001/250.41 mi-2
£55012/240.41 miKnitsley Gardens, Consett2
£55012/240.43 miGladstone Gardens, Consett, Durham, DH82
£60012/240.61 mi-2

Local Area Statistics

Population in DH8

38,324

Population in Consett

38,379

Town centre distance

0.26 miles away

Nearest school

0.20 miles away

Nearest train station

7.38 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+9%

Sales demand

Seller's market

Capital growth (5yrs)

+14%

Property History

Listed for £75,000

February 18, 2025

Floor Plans

Description

  • NO ONWARD CHAIN +
  • For Sale by Modern Auction – T & C’s apply +
  • Subject to Reserve Price +
  • Buyers fees apply +
  • The Modern Method of Auction +
  • View, Bid & Buy +
  • Online Bidding Available +
  • Priced to Sell +
  • Fixed Timescales for Exchange and Completion +

FOR SALE VIA MODERN AUCTION
NO ONWARD CHAIN

Nestled in the heart of Consett, this 2-bedroom terraced house on Berry Edge Road offers a fantastic opportunity for investors or those looking to put their own stamp on a property. With spacious rooms throughout and a town centre location, it’s perfectly positioned for easy access to local shops, restaurants, and amenities. This property is available via the modern method of auction, offering a secure and transparent purchase process.

Inside, the home features a large kitchen diner, providing plenty of space for meal preparation and family gatherings. The separate utility room adds extra convenience, offering ample space for laundry or additional storage. Neutrally decorated throughout, the property offers a blank canvas, ready for modernisation to suit your style.

Upstairs, two generously sized bedrooms provide comfortable living spaces, and the layout ensures a practical flow for day-to-day life. The bathroom, like the rest of the home, offers potential for updates, making it an ideal project for buyers looking to add value.

At the rear of the property, you’ll find a courtyard that could easily be converted into off-street parking, adding further appeal and convenience. The outdoor space is low maintenance, ideal for those seeking a simple, easy-care garden area.

With its spacious interiors and prime location close to the town centre, this home is a promising investment. Whether you’re a first-time buyer or an experienced developer, this property has the potential to become something special. Don’t miss your chance to view—contact us today to arrange a visit!

Council Tax: Band A
EPC Rating: TBC

Auctioneer Comments

This property is for sale by Modern Method of Auction allowing the buyer and seller to complete within a 56 Day Reservation Period. Interested parties’ personal data will be shared with the Auctioneer (iamsold Ltd).

If considering a mortgage, inspect and consider the property carefully with your lender before bidding. A Buyer Information Pack is provided, which you must view before bidding. The buyer is responsible for the Pack fee. For the most recent
information on the Buyer Information Pack fee, please contact the iamsold team.

The buyer signs a Reservation Agreement and makes payment of a Non-Refundable Reservation Fee of 4.5% of the purchase price inc VAT, subject to a minimum of £6,600 inc. VAT. This Fee is paid to reserve the property to the buyer during the
Reservation Period and is paid in addition to the purchase price. The Fee is considered within calculations for stamp duty.

Services may be recommended by the Agent/Auctioneer in which they will receive payment from the service provider if the service is taken. Payment varies but will be no more than £960 inc. VAT. These services are optional.

IMPORTANT NOTE TO POTENTIAL PURCHASERS & TENANTS: We endeavour to make our particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and none is to be relied upon as statements of representation or fact. The services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency is given. All photographs and measurements have been taken as a guide only and are not precise. Floor plans where included are not to scale and accuracy is not guaranteed. If you require clarification or further information on any points, please contact us, especially if you are traveling some distance to view. POTENTIAL PURCHASERS: Fixtures and fittings other than those mentioned are to be agreed with the seller. POTENTIAL TENANTS: All properties are available for a minimum length of time, with the exception of short term accommodation. Please contact the branch for details. A security deposit of at least one month’s rent is required. Rent is to be paid one month in advance. It is the tenant’s responsibility to insure any personal possessions. Payment of all utilities including water rates or metered supply and Council Tax is the responsibility of the tenant in most cases.

COS250046/2

Agent Details

Reeds Rains, Consett

01207 265948

Next Steps?

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