2 Bed Bungalow, Refurb/BRRR, Redcar, TS10 2NF, £150,000

Castle Road, Redcar, North Yorkshire, TS10 2NF - 2 months ago

Refurb/BRRR
ROI: 7%
~68 m²
+8 photos

ValuationFair Value

Sold Prices£71K - £240K
Sold Prices/m²£877/m² - £3.8K/m²

 

 

Square Metres

~68.11 m²
Price/m²£2.2K/m²

Value Estimate

£150,916

 

 

End Value (After Refurb)

£143,750

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£37,500

Stamp Duty & Legal Fees

£9,200

Refurb Costs

£26,136

Bridging Loan Interest

£3,938

Total Cash In

£78,524

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£143,750

Mortgage (After Refinance)

£107,813

Mortgage LTV

75%

Cash Left In

£78,524

Equity

£35,938

Rent Range

£550 - £2,900

Rent Estimate

£1,132

Running Costs/mo

£696

Cashflow/mo

£436

Cashflow/yr

£5,237

ROI

7%

Gross Yield

9%

Local Sold Prices

51 sold prices from £71K to £240K, average is £155K. £877/m² to £3.8K/m², average is £2.3K/m².

PriceDateDistanceAddressBeds 
£126.5K02/210 mi113, Castle Road, Redcar, Redcar And Cleveland TS10 2NF2
£156.3K01/230 mi133, Castle Road, Redcar, Redcar And Cleveland TS10 2NF2
£155K01/240 mi137, Castle Road, Redcar, Redcar And Cleveland TS10 2NF2
£160K12/200.06 mi19, Middleham Way, Redcar, Redcar And Cleveland TS10 2NG2
£159.9K10/230.09 mi90, Castle Road, Redcar, Redcar And Cleveland TS10 2NE2
£113.5K10/210.09 mi91, Castle Road, Redcar, Redcar And Cleveland TS10 2NQ2
£167K11/230.09 mi50, Castle Road, Redcar, Redcar And Cleveland TS10 2NQ2
£139.5K04/230.09 mi105, Castle Road, Redcar, Redcar And Cleveland TS10 2NQ2
£150K12/230.12 mi17, Kilton Close, Redcar, Redcar And Cleveland TS10 2NH2
£169.9K02/240.12 mi14, Kilton Close, Redcar, Redcar And Cleveland TS10 2NH2
£135K09/230.15 mi167, Castle Road, Redcar, Redcar And Cleveland TS10 2LY2
£135K09/230.15 mi167, Castle Road, Redcar, Redcar And Cleveland TS10 2LY2
£172K04/240.17 mi126, Castle Road, Redcar, Redcar And Cleveland TS10 2ND2
£148.5K02/240.18 mi9, Harewood Way, Redcar, Redcar And Cleveland TS10 2LP2
£137K08/210.19 mi10, Castle Road, Redcar, Redcar And Cleveland TS10 2NJ2
£116.5K01/240.19 mi40, Castle Road, Redcar, Redcar And Cleveland TS10 2NJ2
£182K11/230.2 mi2, Dudley Walk, Redcar, Redcar And Cleveland TS10 2LN2
£235K07/230.22 mi14, Carisbrooke Way, Redcar, Redcar And Cleveland TS10 2LJ2
£145K03/230.23 mi38, Durham Road, Redcar, Redcar And Cleveland TS10 3QJ2
£85K01/210.23 mi150, Castle Road, Redcar, Redcar And Cleveland TS10 2LF2
£200K05/240.23 mi142, Castle Road, Redcar, Redcar And Cleveland TS10 2LF2
£71K12/200.23 mi61, Zetland Road, Redcar, Redcar And Cleveland TS10 3QD2
£180K08/230.23 mi280, Laburnum Road, Redcar, Redcar And Cleveland TS10 3QR2
£199.9K07/230.23 mi6, Ludlow Crescent, Redcar, Redcar And Cleveland TS10 2LQ2
£210K07/230.24 mi7, Castle Road, Redcar, Redcar And Cleveland TS10 2NL2
£190K12/200.25 mi9, The Hampstead, Redcar, Redcar And Cleveland TS10 2PN2
£116K01/210.29 mi25, East Scar, Redcar, Redcar And Cleveland TS10 2PL2
£190K11/200.29 mi1, Hayburn Close, Redcar, Redcar And Cleveland TS10 2PZ2
£240K06/230.32 mi31, Holyhead Drive, Redcar, Redcar And Cleveland TS10 2QS2
£100K12/200.35 mi266, Laburnum Road, Redcar, Redcar And Cleveland TS10 3PL2
£92K04/210.35 mi268, Laburnum Road, Redcar, Redcar And Cleveland TS10 3PL2
£158K02/240.35 mi250, Laburnum Road, Redcar, Redcar And Cleveland TS10 3PL2
£145K06/210.35 mi8, Bamburgh Close, Redcar, Redcar And Cleveland TS10 2HD2
£100K07/210.35 mi6, Bamburgh Close, Redcar, Redcar And Cleveland TS10 2HD2
£190K08/230.35 mi1, Hythe Close, Redcar, Redcar And Cleveland TS10 2QP2
£230K02/230.35 mi28, Stirling Road, Redcar, Redcar And Cleveland TS10 2JZ2
£205K09/230.36 mi61, Saltscar, Redcar, Redcar And Cleveland TS10 2PH2
£190K02/240.36 mi6, Saltscar, Redcar, Redcar And Cleveland TS10 2PH2
£114K01/210.36 mi28, Hundale Crescent, Redcar, Redcar And Cleveland TS10 2PU2
£155K03/240.38 mi38, Cypress Road, Redcar, Redcar And Cleveland TS10 3PN2
£103.5K01/210.4 mi31, Hampton Grove, Redcar, Redcar And Cleveland TS10 3PJ2
£128K01/210.4 mi27, Hampton Grove, Redcar, Redcar And Cleveland TS10 3PJ2
£156K02/230.4 mi27, Hampton Grove, Redcar, Redcar And Cleveland TS10 3PJ2
£155K03/240.43 mi22, Deal Road, Redcar, Redcar And Cleveland TS10 2RG2
£167K12/200.43 mi7, Barnard Grove, Redcar, Redcar And Cleveland TS10 2JX2
£225K04/230.43 mi9, Barnard Grove, Redcar, Redcar And Cleveland TS10 2JX2
£135K08/210.44 mi7, West Scar, Redcar, Redcar And Cleveland TS10 2PQ2
£104K11/210.44 mi22, Walnut Grove, Redcar, Redcar And Cleveland TS10 3PG2
£142K05/230.44 mi12, Pembroke Way, Redcar, Redcar And Cleveland TS10 2JY2
£130K01/210.46 mi28, Salcombe Way, Redcar, Redcar And Cleveland TS10 2RB2
£155K04/230.46 mi28, Salcombe Way, Redcar, Redcar And Cleveland TS10 2RB2

Local Rents

18 rents from £550/mo to £2.9K/mo, average is £653/mo.

RentDateDistanceAddressBeds 
£55010/240.05 mi-2
£65010/240.22 miRipon Road, Redcar, North Yorkshire, TS102
£72510/240.75 miKirkwood Drive, Redcar, Cleveland, TS102
£67510/240.93 miTroutbeck Road, Redcar, North Yorkshire, TS102
£59512/240.95 mi-2
£59512/240.95 mi-2
£55010/240.95 mi-2
£2,00010/241.02 mi-2
£2,30010/241.02 mi-2
£2,30002/251.02 mi-2
£65010/241.14 miCharles Street, Redcar, North Yorkshire, TS102
£2,00008/241.15 mi-2
£2,90011/241.15 mi-2
£65502/251.15 mi-2
£65010/241.19 miFrance Street, Redcar, TS102
£84004/241.2 mi-2
£55010/241.21 mi-2
£65002/251.21 mi-2

Local Area Statistics

Population in TS10

36,800

Population in Redcar

48,622

Town centre distance

1.11 miles away

Nearest school

0.40 miles away

Nearest train station

0.46 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+100%

Sales demand

Seller's market

Capital growth (5yrs)

+16%

Property History

Price changed to £150,000

March 28, 2025

Listed for £160,000

February 21, 2025

Description

  • IMMEDIATE VACANT POSSESSION & NO FORWARD CHAIN +
  • SET ON A LARGE, DESIRABLE CORNER PLOT +
  • CLOSE TO LOCAL AMENITIES & PUBLIC TRANSPORT ROUTES +
  • RECENT NEW SHOWER ROOM FOR EASY BATHING +
  • EASY ACCESS TO REDCAR TOWN CENTRE AND SEA FRONT +
  • BUS ROUTE RUNS THROUGH THE ESTATE +
  • DETACHED GARAGE WITH ADDITIONAL GARDEN ROOM +
  • IN NEED OF SOME UPGRADING +
  • OFFERING AMAZING POTENTIAL TO BE A STUNNING "FOREVER HOME" BUNGALOW +
  • EVER POPULAR "INGS FARM" ESTATE IN REDCAR +

ALL MEASUREMENTS ARE APPROXIMATE

GROUND FLOOR

Entrance Porch:
Brick base and UPVC double glazed door to the hall.

Entrance Hall:
Door to kitchen / diner and lounge.

Lounge:
4.24m x 3.88m. Fireplace with a white Adams style surround, marble inset and hearth incorporating a gas coal effect fire. Door to inner hall leading to bedroom 1 , 2 and the Shower Room.

Fitted Kitchen / Diner:
3.74m x 2.64m. Stainless steel inset sink unit with mixer taps. Cream units with a marble effect top and tiled surround. Double glazed hard wood door to side porch. Tile effect vinyl flooring.

Side Porch:
Brick base and UPVC double glazed doors x 2 , 1 leading to rear garden and 1 leading to the driveway.

Bedroom 1:
3.62m x 2.88m. Full wall of fitted wardrobes, overlooking the rear garden.

Bedroom 2:
3.08m (to wardrobes) x 2.49m. Full wall of fitted wardrobes, overlooking the rear garden.

Shower Room / WC:
2.61m x 1.47m. Fully tiled, white suite, chrome heated towel rail, mains fed shower in glass cubicle with a seat, laminate clad ceiling with spotlights, toilet and sink in vanity unit with storage.

EXTERNALLY

Front Garden:
Lawn.

Rear Garden:
Borders, gravelled, trees, shrubs and patio.

Driveway:
Providing off street parking.

Detached Garage:
Power and light. Garden room to the rear.?

AGENTS NOTES

Tenure: Freehold

Viewing: By prior appointment with the Redcar office.
Telephone .

____________________________________________________________________________
Parker Stag and for the vendors or lessors of this property, whose agents they are, give notice that:
the mention of any appliances and/or services within the sale particulars does not imply they are in full and efficient working order.

the particulars are set out as a general outline only for the guidance of intended purchasers or lessees, and do not constitute, nor constitute part of, an offer or contract.

all descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are given without responsibility and any intending purchasers or lessees should not rely on them as statements or representation of fact but must satisfy themselves by inspection or otherwise as to the correctness of them.

no person in the employment of Parker Stag has any authority to make or give any representation or warranty whatever in relation to this property.

Agent Details

Parker Stag Ltd, Redcar

01642 056286

Next Steps?

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