2 Bed Bungalow, Refurb/BRRR, Middlesbrough, TS5 8DX, £159,995

Carmel Gardens, Middlesbrough, North Yorkshire, TS5 8DX - 3 views - 2 months ago

Refurb/BRRR
~68 m²
+3 photos

ValuationOvervalued

Sold Prices£40K - £210K
Sold Prices/m²£597/m² - £3.1K/m²

 

 

Square Metres

~68.11 m²
Price/m²£2.3K/m²

Value Estimate

£147,574

 

 

End Value (After Refurb)

£150,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£39,999

Stamp Duty & Legal Fees

£9,200

Refurb Costs

£26,876

Bridging Loan Interest

£4,200

Total Cash In

£82,025

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£150,000

Mortgage (After Refinance)

£112,500

Mortgage LTV

75%

Cash Left In

£82,025

Equity

£37,500

Rent Range

£455 - £900

Rent Estimate

£644

Running Costs/mo

£618

Cashflow/mo

£26

Cashflow/yr

£317

ROI

0%

Gross Yield

5%

Local Sold Prices

50 sold prices from £40K to £210K, average is £157.3K. £597/m² to £3.1K/m², average is £2.3K/m².

PriceDateDistanceAddressBeds 
£150K04/210.01 mi4, Carmel Gardens, Middlesbrough TS5 8DX2
£160K03/230.01 mi9, Carmel Gardens, Middlesbrough TS5 8DX2
£169K06/230.07 mi36, Canton Gardens, Middlesbrough TS5 8BU2
£207.5K08/230.1 mi3, Holbeck Avenue, Middlesbrough TS5 8DR2
£180K02/240.1 mi16, Belmont Avenue, Middlesbrough TS5 8EN2
£128K11/200.11 mi6, Sambrook Gardens, Middlesbrough TS5 8BY2
£155K12/230.14 mi31, Virginia Gardens, Middlesbrough TS5 8BX2
£205K10/230.15 mi57, Belmont Avenue, Middlesbrough TS5 8EW2
£72.5K07/230.16 mi15, Medina Gardens, Middlesbrough TS5 8BN2
£68K06/230.16 mi11a, Medina Gardens, Middlesbrough TS5 8BN2
£154.6K03/240.18 mi12, Tanya Gardens, Middlesbrough TS5 8BL2
£210K11/210.19 mi19, Holbeck Avenue, Middlesbrough TS5 8DR2
£202K03/230.19 mi29, Holbeck Avenue, Middlesbrough TS5 8DS2
£190K01/240.19 mi34, Holbeck Avenue, Middlesbrough TS5 8DS2
£60K04/230.19 mi19a, Otterburn Gardens, Middlesbrough TS5 8DE2
£160K11/200.21 mi9, Harbourne Gardens, Middlesbrough TS5 8DB2
£150K07/210.23 mi29, Medbourne Gardens, Middlesbrough TS5 8DH2
£40K11/230.26 mi40, Otterhill Court, Hemlington, Middlesbrough TS8 9PY2
£133K04/210.27 mi35, Blue Bell Grove, Middlesbrough TS5 7HQ2
£167.5K06/210.27 mi24, Blue Bell Grove, Middlesbrough TS5 7HQ2
£165K04/240.27 mi2, Welland Close, Middlesbrough TS5 8JG2
£168K03/230.28 mi22, Blue Bell Grove, Middlesbrough TS5 7HQ2
£165K03/230.29 mi25, Blue Bell Grove, Middlesbrough TS5 7HG2
£190K03/210.29 mi29, Blue Bell Grove, Middlesbrough TS5 7HG2
£90K02/210.29 mi16, Offerton Drive, Hemlington, Middlesbrough TS8 9PE2
£105K12/200.29 mi8, Offerton Drive, Hemlington, Middlesbrough TS8 9PE2
£192.5K12/220.32 mi17, Grisedale Close, Middlesbrough TS5 8JW2
£128.5K03/210.32 mi12, Cotherstone Drive, Middlesbrough TS5 8JJ2
£166K07/230.35 mi117, Southdean Drive, Hemlington, Middlesbrough TS8 9HA2
£165K06/210.35 mi74, Southdean Drive, Hemlington, Middlesbrough TS8 9HA2
£165K10/210.36 mi20, Sandy Flatts Court, Middlesbrough TS5 7YR2
£165K11/210.36 mi19, Sandy Flatts Court, Middlesbrough TS5 7YR2
£153K12/200.36 mi18, Sandy Flatts Court, Middlesbrough TS5 7YR2
£159.6K02/230.36 mi37, Sedgefield Road, Middlesbrough TS5 8JN2
£51K10/200.36 mi7, Melton Walk, Hemlington, Middlesbrough TS8 9NB2
£65K05/210.36 mi7, Melton Walk, Hemlington, Middlesbrough TS8 9NB2
£175K04/240.37 mi3, Sedgefield Road, Middlesbrough TS5 8JN2
£105K08/220.37 mi7, Melton Walk, Hemlington, Middlesbrough TS8 9NB2
£163K04/230.38 mi16, Mainsforth Drive, Middlesbrough TS5 8JZ2
£135K02/230.39 mi4, Greatham Close, Middlesbrough TS5 8JY2
£126K09/230.39 mi8, Greenhead Close, Hemlington, Middlesbrough TS8 9HB2
£159.9K11/230.41 mi3, Greatham Close, Middlesbrough TS5 8JY2
£178.9K03/210.42 mi25, Runswick Avenue, Middlesbrough TS5 8JS2
£192K08/230.42 mi27, Runswick Avenue, Middlesbrough TS5 8JS2
£114.5K08/210.42 mi3, Newhaven Close, Hemlington, Middlesbrough TS8 9QG2
£97.5K12/200.44 mi31, Southdean Drive, Hemlington, Middlesbrough TS8 9HH2
£140K02/240.45 mi36, Nuneaton Drive, Hemlington, Middlesbrough TS8 9PR2
£155K03/230.45 mi8, Urlay Grove, Middlesbrough TS5 8LB2
£103K05/230.46 mi11, Lynmouth Close, Hemlington, Middlesbrough TS8 9NH2
£130K05/230.46 mi25, Lynmouth Close, Hemlington, Middlesbrough TS8 9NH2

Local Rents

15 rents from £455/mo to £900/mo, average is £700/mo.

RentDateDistanceAddressBeds 
£70006/240.09 mi-2
£90004/250.18 mi-2
£72512/230.24 mi-2
£79511/240.24 mi-2
£70010/240.3 mi-2
£45510/240.56 mi-2
£50410/240.56 mi-2
£51811/240.56 mi-2
£45510/240.57 mi-2
£79511/240.69 mi-2
£65007/230.75 mi-2
£75006/240.77 mi-2
£52510/240.81 miTrimdon Avenue, Middlesbrough, North Yorkshire, TS52
£70010/240.83 miWellspring Close, Middlesbrough2
£75002/250.84 mi-2

Local Area Statistics

Population in TS5

39,387

Population in Middlesbrough

189,245

Town centre distance

2.57 miles away

Nearest school

0.50 miles away

Nearest train station

2.15 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+10%

Sales demand

Balanced market

Capital growth (5yrs)

+11%

Property History

Listed for £159,995

February 28, 2025

Floor Plans

Description

  • 2 Bedrooms +
  • Entrance Hall +
  • Lounge/Diner +
  • Dining Room +
  • Kitchen +
  • Rear Lobby +
  • Seperate Wc +
  • Bathroom +
  • Attic Storage Room +
  • Front Garden +

Located in the heart of Brookfield we are delighted to offer for sale this two bedroom semi detached bungalow. In need of some updating however this has been reflected in the sensible asking price. The property offers accommodation comprising entrance hall, Spacious lounge and dining room. Stairs give access to a first floor Attic Room ( we are unsure if there are building regulations for this and any intending buyer should contact their solicitor) A kitchen, bathroom with a separate wc and bedroom complete the ground floor accommodation. Gravelled garden to the front provides low maintenance. Superb well maintained rear garden. Driveway and a garage. Offered for sale with no onward chain. EPC RATING TBC. TENURE IS FREEHOLD. COUNCIL TAX BAND IS C.

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.

MID250053/2

Agent Details

Reeds Rains, Middlesbrough

01642 056928

Next Steps?

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