3 Bed Terraced House, Refurb/BRRR, Chester-le-Street, DH2 2EQ, £73,000

Second Avenue, Chester Le Street, DH2 2EQ - 2 views - a month ago

Auction
Refurb/BRRR
ROI: 7%
~93 m²
+8 photos

ValuationUndervalued

Sold Prices£74K - £243K
Sold Prices/m²£783/m² - £3.7K/m²

 

 

Square Metres

~93 m²
Price/m²£785/m²

Value Estimate

£78,780
BMV1%

 

 

End Value (After Refurb)

£123,309

Uplift in Value

+58%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£18,250

Stamp Duty & Legal Fees

£5,100

Refurb Costs

£35,712

Bridging Loan Interest

£1,916

Total Cash In

£62,728

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£123,309

Mortgage (After Refinance)

£92,482

Mortgage LTV

75%

Cash Released

£37,732

Cash Left In

£24,996

Equity

£30,827

Rent Range

£595 - £3,300

Rent Estimate

£955

Running Costs/mo

£596

Cashflow/mo

£359

Cashflow/yr

£4,304

ROI

7%

Gross Yield

16%

Local Sold Prices

50 sold prices from £74K to £243K, average is £116K. £783/m² to £3.7K/m², average is £1.3K/m².

PriceDateDistanceAddressBeds 
£105K01/230.05 mi37, Gray Avenue, Chester Le Street, County Durham DH2 2EL3
£95K01/230.05 mi24, Gray Avenue, Chester Le Street, County Durham DH2 2EL3
£81.5K07/230.07 mi15, Ridley Avenue, Chester Le Street, County Durham DH2 2EJ3
£88.5K10/210.09 mi15, Yetholm Avenue, Chester Le Street, County Durham DH2 2EN3
£80K08/230.15 mi33, Bullion Lane, Chester Le Street, County Durham DH2 2DP3
£105K06/210.16 mi18, Chiltern Avenue, Chester Le Street, County Durham DH2 3BD3
£120K07/210.16 mi13, Chiltern Avenue, Chester Le Street, Durham DH2 3BD3
£114K03/230.16 mi22, Cleveland Avenue, Chester Le Street, County Durham DH2 3BA3
£232.5K09/210.16 mi11, Castle Riggs, Chester Le Street, Durham DH2 2DL3
£108K05/210.17 mi14, Hambledon Avenue, Chester Le Street, County Durham DH2 3BG3
£87K04/210.17 mi5, Third Avenue, Chester Le Street, Durham DH2 2EF3
£122K12/220.18 mi18, Malvern Avenue, Chester Le Street, County Durham DH2 3BH3
£101.5K10/210.18 mi49, Delaval, Chester Le Street, County Durham DH2 2EB3
£110K11/220.18 mi7, Grampian Avenue, Chester Le Street, County Durham DH2 3AY3
£91.5K04/230.19 mi35, Gainford, Chester Le Street, County Durham DH2 2EW3
£96K06/210.19 mi47, Gainford, Chester Le Street, County Durham DH2 2EW3
£92.5K12/200.19 mi50, Gainford, Chester Le Street, County Durham DH2 2EW3
£125K12/200.21 mi53, Chiltern Avenue, Chester Le Street, Durham DH2 3BE3
£120K08/210.21 mi21, Cleveland Avenue, Chester Le Street, Durham DH2 3BB3
£138K10/210.22 mi10, Mendip Avenue, Chester Le Street, County Durham DH2 3AS3
£95K05/210.22 mi60, Hambledon Avenue, Chester Le Street, County Durham DH2 3BQ3
£117K11/210.22 mi52, Hambledon Avenue, Chester Le Street, Durham DH2 3BQ3
£114K02/210.23 mi5, Cotswold Avenue, Chester Le Street, Durham DH2 3BW3
£120K03/230.25 mi52, Lowther Avenue, Chester Le Street, County Durham DH2 3BN3
£120K06/210.26 mi27, Pennine Avenue, Chester Le Street, County Durham DH2 3AX3
£160K11/210.27 mi33, Sidlaw Avenue, Chester Le Street, County Durham DH2 3DD3
£100.1K02/210.27 mi3, Sidlaw Avenue, Chester Le Street, Durham DH2 3DD3
£157.5K04/230.27 mi35, Sidlaw Avenue, Chester Le Street, County Durham DH2 3DD3
£125K04/210.27 mi52, Cotswold Avenue, Chester Le Street, Durham DH2 3BP3
£110K12/220.27 mi51, Cotswold Avenue, Chester Le Street, County Durham DH2 3BP3
£176.9K12/200.28 mi8, Strangford Avenue, Chester Le Street, County Durham DH2 3EX3
£119K05/210.28 mi36, Mendip Avenue, Chester Le Street, Durham DH2 3AT3
£94K03/210.28 mi38, Mendip Avenue, Chester Le Street, County Durham DH2 3AT3
£125K11/220.29 mi59, Cotswold Avenue, Chester Le Street, County Durham DH2 3BP3
£189K01/210.29 mi12, Elvet Green, Chester Le Street, Durham DH2 2ER3
£114K12/210.29 mi36, Cumbrian Avenue, Chester Le Street, Durham DH2 3AR3
£137.5K11/210.3 mi42, Moorfoot Avenue, Chester Le Street, County Durham DH2 3AJ3
£115K10/220.31 mi9, Katrine Close, Chester Le Street, County Durham DH2 3EF3
£148K04/210.34 mi6, Buttermere Close, Chester Le Street, County Durham DH2 3DN3
£96K11/220.35 mi11, Finchdale Terrace, Chester Le Street, County Durham DH3 3DL3
£225K05/210.35 mi11, Cartmel Court, Chester Le Street, County Durham DH2 3UA3
£74K03/230.35 mi11, Poplar Street, Chester Le Street, County Durham DH3 3DN3
£115K12/220.36 mi4, Ernest Terrace, Chester Le Street, County Durham DH3 3HR3
£95K02/210.36 mi6, Eighth Avenue, Chester Le Street, Durham DH2 2BE3
£185K10/200.36 mi11, Glanton Close, Chester Le Street, County Durham DH2 3SW3
£160K05/210.36 mi101, Grasmere Road, Chester Le Street, County Durham DH2 3EU3
£243K10/220.37 mi14, Glanton Close, Chester Le Street, County Durham DH2 3SW3
£135K12/220.37 mi9, Delaval, Chester Le Street, County Durham DH2 2BH3
£125K02/210.37 mi40, Chatton Close, Chester Le Street, Durham DH2 3HU3
£168K12/200.37 mi68, Chatton Close, Chester Le Street, County Durham DH2 3HU3

Local Rents

17 rents from £595/mo to £3.3K/mo, average is £800/mo.

RentDateDistanceAddressBeds 
£99512/240.01 miSecond Avenue, Chester Le Street, DH23
£99512/240.01 mi-3
£70002/240.15 mi-3
£82501/250.19 mi-3
£1,05012/240.2 mi-3
£67512/240.31 miWynyard, Chester Le Street, Durham, DH23
£67512/240.36 mi-3
£70012/240.36 mi-3
£70012/240.37 miChatton Close, Chester Le Street3
£80012/240.38 mi-3
£3,30003/250.38 mi-3
£80006/240.41 mi-3
£85012/240.42 mi-3
£80004/250.5 mi-3
£80012/240.51 mi-3
£82002/250.58 mi-3
£59512/240.61 miCooperative Street, Chester Le Street3

Local Area Statistics

Population in DH2

30,579

Population in Chester-le-Street

56,377

Town centre distance

0.42 miles away

Nearest school

0.10 miles away

Nearest train station

0.38 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

-9%

Sales demand

Seller's market

Capital growth (5yrs)

+12%

Property History

Price changed to £73,000

March 16, 2025

Listed for £78,000

March 10, 2025

Floor Plans

Description

  • Investment Opportunity +
  • To Be Sold Via Secure Sale +
  • End Of Terrace +
  • 3 Bedroom +
  • Partially Converted Garage +
  • Large Wrap Around Side Garden +
  • Renovation Materials Included +
  • Tenure: Freehold +
  • Council Tax Band: A +
  • EPC Rating: C +

### INVESTMENT OPPORTUNITY ### Being Sold via Secure Sale online bidding. Terms & Conditions apply.  Want to get stuck into a project? Then we have the perfect property for you! Not far from the town centre of Chester-le-Street sits this 3 bedroom end of terrace with a huge side garden on Second Avenue, offering bags of investment potential. The house is currently undergoing renovation and comes with many materials to help with continuing the work. The property is also one of few in the area to come with off-street parking and garage is in the process of being converted into a second reception room. However, with the amount of space this exceptional plot offers, this property has the potential to be so much more. Briefly comprising of: Hallway, lounge, kitchen, bathroom and partially converted garage to the ground floor while the first floor is home to 3 generous bedrooms with re-skimmed and decorated walls. The exterior offers an abundance of space with a super spacious wrap around garden to the left side and off-street parking. Don't miss out and book your viewing today! Tenure: Freehold Council Tax Band: A EPC Rating: C Room Descriptions Hallway Enter via a UPVC door into a small hallway with access to the lounge, staircase to the first floor and open access to the garage. Lounge 12'5 x 12' (3.81m x 3.65m) Front-facing UPVC double glazed window, wall mounted electric fireplace and wall mounted radiator. Access for the kitchen towards the rear. Kitchen 6'4 x 14'9 (1.95m x 4.54m) Spacious kitchen with numerous units and work surfaces. Rear-facing UPVC double glazed window. Rear Porch Access to a UPVC door to the rear yard, bathroom and built-in cupboard. Bathroom 5' x 6' (1.52m x 1.82m) Tiled flooring and full-height tiled splashback, access to a toilet, wash basin and bath with an electric shower over. Side-facing UPVC double glazed window, wall mounted radiator and extractor. First Floor Landing Access to 3 bedrooms, built-in cupboard and loft hatch. Rear-facing UPVC double glazed window. Bedroom One 11'3 x 10'7 (3.44m x 3.26m) Front-facing UPVC double glazed window and wall mounted radiator. Bedroom Two 7'8 x 10'7 (2.37m x 3.26m) Rear-facing UPVC double glazed window and wall mounted radiator. Bedroom Three 7'2 x 5'8 (2.19m x 1.76m) Front-facing UPVC double glazed window and wall mounted radiator. Garage 21'1 x 9'8 (6.43m x 2.98m) Partially converted garage with front and side-facing UPVC double glazed windows, lean to roof and open access to the hallway. Exterior Substantially large wrap around garden to the left of the property, also offering off-street parking.

Agent Details

Copeland Residential, Chester Le Street

0191 625 0991

Next Steps?

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