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

Second Avenue, Chester Le Street, Durham, Co Durham, DH2 2EQ - 1 views - a month ago

Auction

Refurb/BRRR

ROI: 7%

~93 m²

+7 photos

ValuationFair Value

Sold Prices	£80K - £243K
Sold Prices/m²	£975/m² - £3.7K/m²

Square Metres	~93 m²
Price/m²	£785/m²
Value Estimate	£74,460£74,460

End Value (After Refurb)	£126,359£126,359
Uplift in Value	+73%+73%

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£18,250£18,250
Stamp Duty & Legal Fees	£4,850£4,850
Refurb Costs	£35,712£35,712
Bridging Loan Interest	£1,916£1,916
Total Cash In	£62,478£62,478

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£126,359£126,359
Mortgage (After Refinance)	£94,769£94,769
Mortgage LTV	75%75%
Cash Released	£40,019£40,019
Cash Left In	£22,459£22,459
Equity	£31,590£31,590
Rent Range	£675 - £3,300£675 - £3,300
Rent Estimate	£978
Running Costs/mo	£610£610
Cashflow/mo	£368£368
Cashflow/yr	£4,410£4,410
ROI	7%7%
Gross Yield	16%16%

Local Sold Prices

50 sold prices from £80K to £243K, average is £120K. £975/m² to £3.7K/m², average is £1.4K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£88.5K	10/21	0.03 mi	15, Yetholm Avenue, Chester Le Street, County Durham DH2 2EN	-	-	3	Semi-Detached House
£95K	01/23	0.09 mi	24, Gray Avenue, Chester Le Street, County Durham DH2 2EL	£1,159	82	3	Terraced House
£105K	01/23	0.09 mi	37, Gray Avenue, Chester Le Street, County Durham DH2 2EL	£1,438	73	3	Semi-Detached House
£81.5K	07/23	0.1 mi	15, Ridley Avenue, Chester Le Street, County Durham DH2 2EJ	£1,019	80	3	Semi-Detached House
£122K	12/22	0.13 mi	18, Malvern Avenue, Chester Le Street, County Durham DH2 3BH	£1,402	87	3	Terraced House
£108K	05/21	0.13 mi	14, Hambledon Avenue, Chester Le Street, County Durham DH2 3BG	£1,227	88	3	Semi-Detached House
£105K	06/21	0.14 mi	18, Chiltern Avenue, Chester Le Street, County Durham DH2 3BD	-	-	3	Terraced House
£120K	07/21	0.14 mi	13, Chiltern Avenue, Chester Le Street, Durham DH2 3BD	-	-	3	Semi-Detached House
£114K	03/23	0.16 mi	22, Cleveland Avenue, Chester Le Street, County Durham DH2 3BA	£1,310	87	3	Terraced House
£114K	02/21	0.17 mi	5, Cotswold Avenue, Chester Le Street, Durham DH2 3BW	£1,310	87	3	Terraced House
£91.5K	04/23	0.17 mi	35, Gainford, Chester Le Street, County Durham DH2 2EW	£1,028	89	3	Terraced House
£96K	06/21	0.17 mi	47, Gainford, Chester Le Street, County Durham DH2 2EW	£1,043	92	3	Terraced House
£92.5K	12/20	0.17 mi	50, Gainford, Chester Le Street, County Durham DH2 2EW	£1,028	90	3	Terraced House
£95K	05/21	0.19 mi	60, Hambledon Avenue, Chester Le Street, County Durham DH2 3BQ	-	-	3	Terraced House
£117K	11/21	0.19 mi	52, Hambledon Avenue, Chester Le Street, Durham DH2 3BQ	-	-	3	Terraced House
£125K	12/20	0.2 mi	53, Chiltern Avenue, Chester Le Street, Durham DH2 3BE	£1,437	87	3	Terraced House
£101.5K	10/21	0.2 mi	49, Delaval, Chester Le Street, County Durham DH2 2EB	£1,153	88	3	Semi-Detached House
£87K	04/21	0.2 mi	5, Third Avenue, Chester Le Street, Durham DH2 2EF	£1,000	87	3	Semi-Detached House
£110K	11/22	0.2 mi	7, Grampian Avenue, Chester Le Street, County Durham DH2 3AY	£1,264	87	3	Terraced House
£120K	03/23	0.2 mi	52, Lowther Avenue, Chester Le Street, County Durham DH2 3BN	-	-	3	Terraced House
£120K	08/21	0.21 mi	21, Cleveland Avenue, Chester Le Street, Durham DH2 3BB	-	-	3	Terraced House
£160K	11/21	0.21 mi	33, Sidlaw Avenue, Chester Le Street, County Durham DH2 3DD	-	-	3	Semi-Detached House
£100.1K	02/21	0.21 mi	3, Sidlaw Avenue, Chester Le Street, Durham DH2 3DD	£975	103	3	Semi-Detached House
£157.5K	04/23	0.21 mi	35, Sidlaw Avenue, Chester Le Street, County Durham DH2 3DD	-	-	3	Semi-Detached House
£80K	08/23	0.21 mi	33, Bullion Lane, Chester Le Street, County Durham DH2 2DP	-	-	3	Semi-Detached House
£125K	04/21	0.22 mi	52, Cotswold Avenue, Chester Le Street, Durham DH2 3BP	-	-	3	Semi-Detached House
£110K	12/22	0.22 mi	51, Cotswold Avenue, Chester Le Street, County Durham DH2 3BP	-	-	3	Terraced House
£232.5K	09/21	0.23 mi	11, Castle Riggs, Chester Le Street, Durham DH2 2DL	-	-	3	Detached House
£125K	11/22	0.24 mi	59, Cotswold Avenue, Chester Le Street, County Durham DH2 3BP	£1,359	92	3	Terraced House
£138K	10/21	0.25 mi	10, Mendip Avenue, Chester Le Street, County Durham DH2 3AS	£1,568	88	3	Terraced House
£176.9K	12/20	0.25 mi	8, Strangford Avenue, Chester Le Street, County Durham DH2 3EX	£1,988	89	3	Semi-Detached House
£120K	06/21	0.28 mi	27, Pennine Avenue, Chester Le Street, County Durham DH2 3AX	£1,348	89	3	Terraced House
£225K	05/21	0.29 mi	11, Cartmel Court, Chester Le Street, County Durham DH2 3UA	£2,885	78	3	Detached House
£185K	10/20	0.3 mi	11, Glanton Close, Chester Le Street, County Durham DH2 3SW	£2,721	68	3	Detached House
£243K	10/22	0.3 mi	14, Glanton Close, Chester Le Street, County Durham DH2 3SW	£3,682	66	3	Detached House
£119K	05/21	0.3 mi	36, Mendip Avenue, Chester Le Street, Durham DH2 3AT	£1,352	88	3	Semi-Detached House
£94K	03/21	0.3 mi	38, Mendip Avenue, Chester Le Street, County Durham DH2 3AT	-	-	3	Terraced House
£125K	12/21	0.31 mi	18, Chatton Close, Chester Le Street, County Durham DH2 3HU	-	-	3	Terraced House
£125K	02/21	0.31 mi	40, Chatton Close, Chester Le Street, Durham DH2 3HU	£1,866	67	3	Terraced House
£115K	03/21	0.31 mi	11, Chatton Close, Chester Le Street, Durham DH2 3HU	£1,597	72	3	Semi-Detached House
£168K	12/20	0.31 mi	68, Chatton Close, Chester Le Street, County Durham DH2 3HU	£2,082	81	3	Semi-Detached House
£115K	10/22	0.32 mi	9, Katrine Close, Chester Le Street, County Durham DH2 3EF	£1,292	89	3	Detached House
£114K	12/21	0.32 mi	36, Cumbrian Avenue, Chester Le Street, Durham DH2 3AR	£1,104	103	3	Terraced House
£160K	05/21	0.32 mi	101, Grasmere Road, Chester Le Street, County Durham DH2 3EU	-	-	3	Semi-Detached House
£122K	12/20	0.33 mi	16, Bowmont Walk, Chester Le Street, Durham DH2 3JB	£1,768	69	3	Semi-Detached House
£137.5K	11/21	0.34 mi	42, Moorfoot Avenue, Chester Le Street, County Durham DH2 3AJ	£1,341	103	3	Semi-Detached House
£168K	06/21	0.34 mi	4, Westray, Chester Le Street, Durham DH2 3HF	£2,100	80	3	Semi-Detached House
£189K	01/21	0.35 mi	12, Elvet Green, Chester Le Street, Durham DH2 2ER	£2,198	86	3	Semi-Detached House
£148K	04/21	0.36 mi	6, Buttermere Close, Chester Le Street, County Durham DH2 3DN	-	-	3	Semi-Detached House
£187K	09/21	0.36 mi	21, Ullswater Road, Chester Le Street, County Durham DH2 3HG	£2,078	90	3	Semi-Detached House

Local Rents

15 rents from £675/mo to £3.3K/mo, average is £800/mo.

Rent	Date	Distance	Address	Beds	Type
£995	12/24	0.06 mi	Second Avenue, Chester Le Street, DH2	3	Terraced House
£995	12/24	0.06 mi	-	3	Terraced House
£700	02/24	0.15 mi	-	3	Terraced House
£825	01/25	0.19 mi	-	3	Terraced House
£1,050	12/24	0.26 mi	-	3	Terraced House
£700	12/24	0.3 mi	-	3	Terraced House
£675	12/24	0.31 mi	Wynyard, Chester Le Street, Durham, DH2	3	Detached House
£700	12/24	0.31 mi	Chatton Close, Chester Le Street	3	Detached House
£800	12/24	0.39 mi	-	3	Terraced House
£850	12/24	0.41 mi	-	3	Terraced House
£675	12/24	0.42 mi	-	3	Semi-Detached House
£3,300	03/25	0.45 mi	-	3	Terraced House
£800	06/24	0.45 mi	-	3	Terraced House
£800	04/25	0.52 mi	-	3	Terraced House
£800	12/24	0.53 mi	-	3	Terraced House

Local Area Statistics

Population in DH2	30,57930,579
Population in Chester-le-Street	56,37756,377
Town centre distance	0.47 miles away0.47 miles away
Nearest school	0.20 miles away0.20 miles away
Nearest train station	0.45 miles away0.45 miles away

Rental demand	Tenant's marketTenant's market
Rental growth (12m)	-9%-9%
Sales demand	Seller's marketSeller's market
Capital growth (5yrs)	+12%+12%

Property History

Listed for £73,000

March 14, 2025

Floor Plans

Description

Being Sold via Secure Sale online bidding. Terms and conditions apply. +
Three Bedrooms +
Investment Opportunity +
Renovation Materials Included +
Large Wrap Around Side Garden +

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.

Council Tax Band: A
Tenure: Freehold

Agent Details

Pattinson Estate Agents, Auction

0191 625 0242

Next Steps?

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

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