2 Bed Semi-Detached House, Refurb/BRRR, Middlesbrough, TS3 6DY, £55,000

Basil Street, Middlesbrough, TS3 6DY - 1 views - 20 days ago

Auction
Refurb/BRRR
ROI: 8%
~68 m²
+3 photos

ValuationFair Value

Sold Prices£30K - £140K
Sold Prices/m²£349/m² - £2.1K/m²

 

 

Square Metres

~68.11 m²
Price/m²£808/m²

Value Estimate

£54,683

 

 

End Value (After Refurb)

£56,309

Uplift in Value

+2%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£13,750

Stamp Duty & Legal Fees

£3,950

Refurb Costs

£26,876

Bridging Loan Interest

£1,444

Total Cash In

£47,770

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£56,309

Mortgage (After Refinance)

£42,232

Mortgage LTV

75%

Cash Released

£982

Cash Left In

£46,788

Equity

£14,077

Rent Range

£475 - £795

Rent Estimate

£635

Running Costs/mo

£323

Cashflow/mo

£312

Cashflow/yr

£3,744

ROI

8%

Gross Yield

14%

Local Sold Prices

50 sold prices from £30K to £140K, average is £59.5K. £349/m² to £2.1K/m², average is £818/m².

PriceDateDistanceAddressBeds 
£45K03/230.05 mi15, Benedict Street, Middlesbrough TS3 6DT2
£44K11/200.13 mi7, Lytton Street, Middlesbrough TS4 2BZ2
£48.5K04/210.14 mi35, Saltwells Road, Middlesbrough TS4 2EB2
£45K03/230.25 mi25, Coltman Street, Middlesbrough TS3 6JA2
£30K06/210.27 mi35, Dorothy Street, Middlesbrough TS3 6JD2
£88K06/230.28 mi23, Livingstone Road, Middlesbrough TS3 6ET2
£49K08/230.28 mi11, Livingstone Road, Middlesbrough TS3 6ET2
£70K06/210.28 mi25, Thomas Street, Middlesbrough TS3 6JE2
£100K05/230.29 mi11, Millfield Road, Middlesbrough TS3 6ES2
£118K08/210.29 mi5, Millfield Road, Middlesbrough TS3 6ES2
£40K03/210.31 mi16, Maria Street, Middlesbrough TS3 6JQ2
£43K06/210.31 mi21, Thornton Street, Middlesbrough TS3 6PG2
£30K11/200.31 mi11, Coronation Street, Middlesbrough TS3 6QH2
£36K07/210.34 mi5, Deacon Street, Middlesbrough TS3 6PB2
£40.5K03/230.35 mi10, Stainton Street, Middlesbrough TS3 6QF2
£80K02/230.36 mi32, Angle Street, Middlesbrough TS4 2JA2
£45K03/230.36 mi5, Herbert Street, Middlesbrough TS3 6JR2
£60K05/210.36 mi22, Angle Street, Middlesbrough TS4 2JA2
£77K11/220.36 mi16, Angle Street, Middlesbrough TS4 2JA2
£61.5K11/200.37 mi34, Talbot Street, Middlesbrough TS1 3EP2
£65.5K04/210.38 mi5, Duncombe Road, Middlesbrough TS4 2FE2
£48K03/230.4 mi2, Norcliffe Street, Middlesbrough TS3 6PS2
£48.5K01/210.4 mi27, Esher Street, Middlesbrough TS1 3EN2
£50K12/220.41 mi2, Mccreton Street, Middlesbrough TS3 6QA2
£52K01/230.42 mi106, Beaumont Road, Middlesbrough TS3 6NP2
£52.5K03/210.43 mi9, Roscoe Street, Middlesbrough TS1 3HN2
£63K05/210.43 mi26, Roscoe Street, Middlesbrough TS1 3HN2
£42K03/210.44 mi27, Kindersley Street, Middlesbrough TS3 6PW2
£68K08/230.45 mi58, Byelands Street, Middlesbrough TS4 2HP2
£41K12/220.46 mi30, Somerset Street, Middlesbrough TS1 2EF2
£62K06/230.46 mi15, Haddon Street, Middlesbrough TS1 3JL2
£106K11/230.46 mi15, Egmont Road, Middlesbrough TS4 2HU2
£100K07/220.5 mi32, Newstead Road, Middlesbrough TS4 2HJ2
£90K12/220.5 mi66, Falmouth Street, Middlesbrough TS1 3HH2
£105K12/200.56 mi62, Roseberry Road, Middlesbrough TS4 2LL2
£59K09/210.56 mi51, Errol Street, Middlesbrough TS1 3LW2
£95K08/210.57 mi80, Highfield Road, Middlesbrough TS4 2QP2
£140K09/230.57 mi62, Highfield Road, Middlesbrough TS4 2QP2
£72K10/210.57 mi23, Aubrey Street, Middlesbrough TS1 3NH2
£115K05/220.58 mi9, Stadium Gardens, Middlesbrough TS4 2WF2
£79K10/200.59 mi36, Laurel Street, Middlesbrough TS1 3DR2
£45K04/210.59 mi68, Egerton Street, Middlesbrough TS1 3LS2
£50.5K05/230.6 mi10, Seaton Street, Middlesbrough TS1 3NQ2
£60K05/230.6 mi9, Seaton Street, Middlesbrough TS1 3NQ2
£38K11/210.6 mi49, Egerton Street, Middlesbrough TS1 3LS2
£61K07/210.6 mi68, Egerton Street, Middlesbrough TS1 3LS2
£61K07/210.6 mi68, Egerton Street, Middlesbrough TS1 3LS2
£45K07/230.6 mi71, Egerton Street, Middlesbrough TS1 3LS2
£82K08/230.6 mi118, Park Lane, Middlesbrough TS1 3LL2
£56.2K04/210.61 mi24, Aubrey Street, Middlesbrough TS1 3LY2

Local Rents

23 rents from £475/mo to £795/mo, average is £650/mo.

RentDateDistanceAddressBeds 
£55002/250.03 mi-2
£57510/240.25 miColtman Street, MIDDLESBROUGH2
£49910/240.25 mi-2
£79501/250.26 mi-2
£50010/240.28 mi-2
£65010/240.3 miEsk Street, Middlesbrough, TS32
£59504/250.31 mi-2
£64012/240.31 mi-2
£65010/240.32 miDouglas Court, Douglas Street, Middlesbrough, North Yorkshire, TS42
£55010/240.32 miCadogan Street, North Ormesby, Middlesbrough, North Yorkshire, TS32
£57510/240.33 miPeaton Street, MIDDLESBROUGH2
£65012/240.34 mi-2
£56510/240.36 mi-2
£79503/250.37 mi-2
£79503/250.37 mi-2
£69510/240.38 mi-2
£79503/250.38 mi-2
£69510/240.38 miHerbert Street, Middlesbrough, TS32
£69512/230.4 mi-2
£67511/240.41 mi-2
£47510/240.42 mi-2
£65010/240.42 miRoscoe Street, Middlesbrough2
£70010/240.62 miCiac Building, Quay Street, Middlesbrourgh, TS22

Local Area Statistics

Population in TS3

28,890

Population in Middlesbrough

189,245

Town centre distance

1.69 miles away

Nearest school

0.20 miles away

Nearest train station

0.92 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+34%

Sales demand

Seller's market

Capital growth (5yrs)

+23%

Property History

Listed for £55,000

March 26, 2025

Floor Plans

Description

* FOR SALE VIA AUCTION * START BID £55,000 * SUBJECT TO RESERVE PRICE *

A spacious two double bedroom semi detached property situated in TS3 and within close proximity to local amenities. The property benefits from vacant possession and is in need of modernisation. The spacious accommodation briefly comprises; entrance porch, living room, fitted kitchen, two first floor double bedrooms and wet room/WC. Externally to the front of is a garage and to the rear is a generous size garden which is mainly laid to lawn.

PLEASE NOTE SELECTIVE LISENCE WILL APPLY TO LANDLORDS IN THIS AREA.

* PLEASE REFER TO AUCTIONEER COMMENTS *

Auctioneer Comments - This property is for sale by the Modern Method of Auction. Should you view, offer or bid on the property, your information will be shared with the Auctioneer, iamsold Limited.
This property is for sale by the Modern Method of Auction. Should you view, offer or bid on the property, your information will be shared with the Auctioneer, iamsold Limited.
This method of auction requires both parties to complete the transaction within 56 days of the draft contract for sale being received by the buyers solicitor. This additional time allows buyers to proceed with mortgage finance (subject to lending criteria, affordability and survey).
The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee. This being 4.5% of the purchase price including VAT, subject to a minimum of £6,000.00 including VAT. The Reservation Fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability. Buyers will be required to go through an identification verification process with iamsold and provide proof of how the purchase would be funded. This property has a Buyer Information Pack which is a collection of documents in relation to the property.

Agent Details

Smith & Friends Estate Agents, Middlesbrough

01642 056930

Next Steps?

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