2 Bed Terraced House, Refurb/BRRR, Middlesbrough, TS6 6LH, £50,000

Hampden Street, South Bank, Middlesbrough, North Yorkshire, TS6 6LH - 12 views - 21 days ago

BTL
Motivated
Refurb/BRRR
ROI: 6%
~68 m²
+3 photos

ValuationFair Value

Sold Prices£24K - £101K
Sold Prices/m²£338/m² - £1.4K/m²

 

 

Square Metres

~68.11 m²
Price/m²£734/m²

Value Estimate

£50,500

 

 

End Value (After Refurb)

£80,999

Uplift in Value

+62%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£12,500

Stamp Duty & Legal Fees

£3,700

Refurb Costs

£26,876

Bridging Loan Interest

£1,313

Total Cash In

£46,139

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£80,999

Mortgage (After Refinance)

£60,749

Mortgage LTV

75%

Cash Released

£23,249

Cash Left In

£22,889

Equity

£20,250

Rent Range

£480 - £850

Rent Estimate

£610

Running Costs/mo

£395

Cashflow/mo

£215

Cashflow/yr

£2,579

ROI

6%

Gross Yield

15%

Local Sold Prices

20 sold prices from £24K to £101K, average is £75K. £338/m² to £1.4K/m², average is £986/m².

PriceDateDistanceAddressBeds 
£32K03/210 mi35, Hampden Street, South Bank, Middlesbrough, Redcar And Cleveland TS6 6LH2
£33.5K10/210.06 mi91, Hampden Street, South Bank, Middlesbrough, Redcar And Cleveland TS6 6LQ2
£24K04/240.1 mi15, Hampden Street, South Bank, Middlesbrough, Redcar And Cleveland TS6 6LA2
£33.3K03/210.11 mi3, Edward Street, South Bank, Middlesbrough, Redcar And Cleveland TS6 6JZ2
£51K11/220.11 mi12, South Terrace, Middlesbrough, Redcar And Cleveland TS6 6HP2
£47K11/220.15 mi40, South Terrace, Middlesbrough, Redcar And Cleveland TS6 6HP2
£73K08/210.21 mi51, Briggs Avenue, South Bank, Middlesbrough, Redcar And Cleveland TS6 6XL2
£87K03/230.22 mi14, Achilles Close, South Bank, Middlesbrough, Redcar And Cleveland TS6 6XP2
£25K03/210.59 mi77, Millbrook Avenue, Middlesbrough TS3 9DZ2
£94.5K12/230.59 mi8, Westbourne Grove, South Bank, Middlesbrough, Redcar And Cleveland TS6 0AE2
£80K10/210.64 mi89, Park Avenue, Middlesbrough, Redcar And Cleveland TS6 0AF2
£87K07/230.71 mi72, Berwick Hills Avenue, Middlesbrough TS3 9EG2
£70K11/200.73 mi12, Grantley Avenue, Middlesbrough TS3 9HN2
£77K09/210.74 mi7, Hanson Grove, Middlesbrough TS3 9JY2
£101K09/210.8 mi27, Hamilton Grove, Middlesbrough, Redcar And Cleveland TS6 0AH2
£88K03/210.8 mi33, College Road, Middlesbrough TS3 9EN2
£83K02/210.8 mi25, College Road, Middlesbrough TS3 9EN2
£86K03/230.85 mi79, Caithness Road, Middlesbrough, Redcar And Cleveland TS6 0AJ2
£71K11/200.88 mi43, Merlin Road, Middlesbrough TS3 8EB2
£100K11/230.98 mi22, Brecon Gardens, Middlesbrough, Redcar And Cleveland TS6 9RZ2

Local Rents

10 rents from £480/mo to £850/mo, average is £585/mo.

RentDateDistanceAddressBeds 
£59510/230.13 mi-2
£55010/240.34 miBevanlee Road, Middlesbrough, North Yorkshire, TS62
£52510/240.34 miBevanlee Road, MIDDLESBROUGH2
£67510/240.98 miBrecon Gardens, Middlesbrough2
£55008/231.05 mi-2
£57512/241.05 mi-2
£48010/241.1 miMonmouth Road, Middlesbrough2
£85011/241.2 mi-2
£65010/241.21 miDelarden Road, Pallister Park2
£65010/241.23 miNightingale Road, Eston2

Local Area Statistics

Population in TS6

30,239

Population in Middlesbrough

189,245

Town centre distance

1.80 miles away

Nearest school

0.30 miles away

Nearest train station

0.60 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+2%

Sales demand

Seller's market

Capital growth (5yrs)

+12%

Property History

Listed for £50,000

March 12, 2025

Floor Plans

Description

  • Council Tax Band A, Freehold +
  • Spacious Living Room +
  • Kitchen +
  • Two Good Sized Bedrooms +
  • Family Bathroom +
  • Rear Yard +
  • In need of Modernisation +
  • Viewing Advised +

This chain free property is situated in South Bank, Middleborough close to the A19. In need of modernization but with generous room sizes throughout this would be an ideal first time buy or buy to let investment.

This terraced home is located in Redcar 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 welcoming entrance way, a spacious living room and a fitted kitchen. There is also a ground floor bathroom.

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

Externally, the property benefits from a rear yard

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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