2 Bed Terraced House, Refurb/BRRR, South Shields, NE33 5SU, £62,500

Devonshire Street, South Shields, NE33 5SU - 21 views - 8 years ago

Leasehold
Refurb/BRRR
ROI: 5%
~68 m²
+4 photos

ValuationFair Value

Sold Prices£50K - £198.5K
Sold Prices/m²£781/m² - £3.8K/m²

 

 

Square Metres

~68.11 m²
Price/m²£918/m²

Value Estimate

£63,750

 

 

End Value (After Refurb)

£77,192

Uplift in Value

+24%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£15,625

Stamp Duty & Legal Fees

£3,075

Refurb Costs

£26,000

Bridging Loan Interest

£1,641

Total Cash In

£48,091

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£77,192

Mortgage (After Refinance)

£57,894

Mortgage LTV

75%

Cash Released

£11,019

Cash Left In

£37,071

Equity

£19,298

Rent Range

£475 - £795

Rent Estimate

£588

Running Costs/mo

£379

Cashflow/mo

£209

Cashflow/yr

£2,510

ROI

5%

Gross Yield

11%

Local Sold Prices

50 sold prices from £50K to £198.5K, average is £98K. £781/m² to £3.8K/m², average is £1.4K/m².

PriceDateDistanceAddressBeds 
£60K04/210.09 mi8, Greathead Street, South Shields, Tyne And Wear NE33 5LX2
£78.5K04/210.16 mi284, Taylor Street, South Shields, Tyne And Wear NE33 5AW2
£98K03/210.21 mi141, Waverdale Way, South Shields, Tyne And Wear NE33 4SH2
£125K10/230.22 mi8, Coverdale Walk, South Shields, Tyne And Wear NE33 5LB2
£77.5K12/200.24 mi41, Vernon Close, South Shields, Tyne And Wear NE33 5DF2
£104.5K03/210.24 mi11, Vernon Close, South Shields, Tyne And Wear NE33 5DF2
£85K08/230.24 mi111, Whitfield Villas, South Shields, Tyne And Wear NE33 5NH2
£100K04/240.3 mi16, Raleigh Close, South Shields, Tyne And Wear NE33 5DG2
£125K10/200.36 mi19, Anson Close, South Shields, Tyne And Wear NE33 5DQ2
£137.5K04/210.37 mi27, Drake Close, South Shields, Tyne And Wear NE33 5DE2
£97.8K12/220.41 mi137, Marshall Wallis Road, South Shields, Tyne And Wear NE33 5PP2
£85K11/230.48 mi142, Marshall Wallis Road, South Shields, Tyne And Wear NE33 5PR2
£83K12/230.52 mi2, Bewick Street, South Shields, Tyne And Wear NE33 4JU2
£75K02/230.52 mi131, Birchington Avenue, South Shields, Tyne And Wear NE33 4SB2
£58.5K07/230.53 mi47, Cranford Street, South Shields, Tyne And Wear NE34 0QN2
£50K04/240.53 mi45, Cranford Street, South Shields, Tyne And Wear NE34 0QN2
£100K02/240.55 mi124, Birchington Avenue, South Shields, Tyne And Wear NE33 4SA2
£164K12/200.55 mi3, St Oswins Street, South Shields, Tyne And Wear NE33 4SE2
£80K05/230.56 mi38, Brownlow Road, South Shields, Tyne And Wear NE34 0QT2
£75K11/200.58 mi11, Cornwallis Square, South Shields, Tyne And Wear NE33 1SD2
£63K05/240.58 mi21, Beattie Street, South Shields, Tyne And Wear NE34 0NJ2
£68K04/230.62 mi3, Stanhope Road, South Shields, Tyne And Wear NE33 4BD2
£98K06/230.62 mi59, Alverthorpe Street, South Shields, Tyne And Wear NE33 4BJ2
£53.5K07/230.62 mi29, Ethel Terrace, South Shields, Tyne And Wear NE34 0NH2
£90K06/210.63 mi16, Compton Avenue, South Shields, Tyne And Wear NE34 0PZ2
£98K06/230.63 mi59, Oxford Street, South Shields, Tyne And Wear NE33 4BH2
£156.8K10/210.65 mi2, Newton Grove, South Shields, Tyne And Wear NE34 9AF2
£130K02/240.65 mi7, Hyperion Avenue, South Shields, Tyne And Wear NE34 9AE2
£134K07/240.69 mi8, Marlborough Street North, South Shields, Tyne And Wear NE33 4DA2
£85K06/230.71 mi10, Laygate Place, South Shields, Tyne And Wear NE33 5RT2
£105K08/210.71 mi16, Nora Street, South Shields, Tyne And Wear NE34 0RA2
£140K12/200.72 mi183, Wenlock Road, South Shields, Tyne And Wear NE34 9BP2
£82.5K07/240.72 mi42, Oxford Avenue, South Shields, Tyne And Wear NE33 4TP2
£170K01/210.74 mi26, Warwick Road, South Shields, Tyne And Wear NE33 4TR2
£198.5K09/230.74 mi5, Warwick Road, South Shields, Tyne And Wear NE33 4TR2
£113K08/240.74 mi188, Harton Lane, South Shields, Tyne And Wear NE34 0PN2
£60K08/240.75 mi92, Canterbury Street, South Shields, Tyne And Wear NE33 4DD2
£68.5K03/210.75 mi4, Bluebell Way, South Shields, Tyne And Wear NE34 0BZ2
£68K12/200.76 mi92, Canterbury Street, South Shields, Tyne And Wear NE33 4DD2
£120K02/230.79 mi29, Collin Drive, South Shields, Tyne And Wear NE34 9FD2
£110K03/210.79 mi20, Frost Mews, South Shields, Tyne And Wear NE33 4AL2
£105K11/200.79 mi10, Frost Mews, South Shields, Tyne And Wear NE33 4AL2
£77K10/210.8 mi24, Red Berry Way, South Shields, Tyne And Wear NE34 0BQ2
£120K01/230.84 mi84, Victoria Road, South Shields, Tyne And Wear NE33 4NQ2
£85.5K01/210.84 mi4, Edendale Court, South Shields, Tyne And Wear NE34 9EY2
£137.5K08/240.84 mi90, Victoria Road, South Shields, Tyne And Wear NE33 4NQ2
£120K12/220.85 mi3, Foxglove Court, South Shields, Tyne And Wear NE34 0BH2
£100K04/210.85 mi15, Foxglove Court, South Shields, Tyne And Wear NE34 0BH2
£119.1K02/230.88 mi49, Biddick Hall Drive, South Shields, Tyne And Wear NE34 0TW2
£190K03/240.88 mi11, Falcon Way, South Shields, Tyne And Wear NE34 0DH2

Local Rents

43 rents from £475/mo to £795/mo, average is £600/mo.

RentDateDistanceAddressBeds 
£50010/230.03 mi-2
£59901/250.04 mi-2
£68503/250.06 mi-2
£55005/240.22 mi-2
£47512/240.35 mi33 Revesby Street South Shields NE33 4SY2
£60004/250.42 mi-2
£60005/240.43 mi-2
£60011/230.46 mi-2
£52009/230.46 mi-2
£57503/240.47 mi-2
£65010/230.47 mi-2
£55007/240.48 mi-2
£55006/240.48 miCollingwood Street, South Shields, NE332
£55007/240.48 miCollingwood Street, South Shields, NE332
£52003/240.48 mi-2
£50006/240.49 miWest Harton, South Shields, NE34 0JR2
£79503/250.5 mi-2
£75003/250.5 mi-2
£70004/250.5 mi-2
£65006/240.52 miTalbot Road, South Shields, South Tyneside2
£58509/240.52 mi-2
£62505/240.52 miGordon Road, South Shields, Tyne and Wear, NE342
£70005/240.52 mi-2
£70007/240.52 mi-2
£67002/250.54 mi-2
£65003/250.54 mi-2
£69512/240.55 mi-2
£65004/240.55 mi-2
£65002/240.55 mi-2
£62506/240.55 miAshley Road, South Shields2
£62512/230.55 mi-2
£65012/240.56 miLow Lane, South Shields, Tyne And Wear, NE342
£60003/250.56 mi-2
£65004/250.58 mi-2
£52002/240.6 mi-2
£55007/240.6 mi-2
£75003/250.61 mi-2
£60012/240.61 miRekendyke Mews, South Shields2
£60005/240.61 mi-2
£60008/240.62 mi-2
£60005/240.62 mi-2
£57505/240.62 mi-2
£55003/250.62 mi-2

Local Area Statistics

Population in NE33

27,262

Population in South Shields

79,432

Town centre distance

0.81 miles away

Nearest school

0.40 miles away

Nearest train station

0.44 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+19%

Sales demand

Seller's market

Capital growth (5yrs)

+8%

Property History

Listed for £62,500

October 2, 2017

Sold for £65,000

2004

Sold for £42,000

2001

Description

  • Now Sold With Vacant Possession! +
  • Rear Yard +
  • Garage For Off Road Parking +
  • Close To Transport Links +
  • Double Glazing +
  • Reference: 329437 +

SOLD WITH VACANT POSSESSION ! Two bedroom mid terrace property is in need of modernisation and is an ideal property for first time buyers, investors and someone looking to get onto the property ladder. Located close to transport links and main road links to neighbouring towns. The floorplan comprises of an entrance into hallway, lounge, dining room and kitchen. To the first floor there is a two bedrooms, rear landing and bathroom. Externally there is a garage and a rear yard.

Viewings come highly recommended !
ENTRANCE
UPVC entrance door into hallway. Stairs to first floor.
LOUNGE 4.55m (14'11) x 3.58m (11'9)
Double glazed window to front, radiator, gas fire with surround and fireplace. Door into -
DINING ROOM 4.32m (14'2) x 4.62m (15'2)
Double glazed window, radiator, under stairs storage cupboard, wall mounted gas fire with surround and fireplace. Door into -
KITCHEN 3.96m (13') x 2.1m (6'11)
Range of wall and base units, integrated oven and hob with extractor. Space for washing machine, space for fridge freezer. Combi boiler located here, double glazed window, double glazed UPVC door to the rear. Sink unit with mixer tap and drainer, lino to floor tiling to splash areas.
FIRST FLOOR LANDING
Loft access hatch.
BEDROOM ONE 4.79m (15'9) x 4.63m (15'2)
Front - double glazed window and radiator.
BEDROOM TWO 3.71m (12'2) x 2.87m (9'5)
Rear - double glazed window and radiator.
REAR LANDING
Storage cupboard, two radiators and door into -
BATHROOM
Corner bath, pedestal wash hand basin, low flush W.C., lino to floor, radiator. Double glazed window, part tiling to walls and extractor fan.
EXTERNALLY
Garage to the rear providing off road parking for one car and rear yard.
Working Hard For You
Our Customer Care Centre is open until 8pm EVERY weekday and 10am - 4pm EVERY Saturday and Sunday so if lazy Sundays are not your thing we would love to hear from you. Call either your local branch or
Tenure
We will provide as much information about tenure as we are able to and in the case of leasehold properties, we can in most cases provide a copy of the lease. They can be complex and buyers are advised to take legal advice upon the full terms of a lease. Where a lease is not readily available we will apply for a copy and this can take time.

Every care has been taken in the preparation of these particulars and whilst believed to be accurate they are for general guidance only and they must not be relied upon as statements of representation of fact. Any prospective Purchasers or Tenants must satisfy themselves by inspection or otherwise as to the correctness of the particulars contained and if the property has been subject to any modifications/alterations that these were in accordance with any necessary planning or building regulations which may or may not be applicable. The mention of fixtures, fittings and appliances does not imply that they are in working order. All photographs are reproduced for general information and it must not be inferred that any item shown is included with the property. They do not constitute any part of an offer or contract. No person in this firm's employment has the authority to make or give any representation or warranty in respect of the property.

EPC Rating: D
The Agent of the North
Andrew Craig is The Agent of the North and as Chartered Surveyors we can help you with all your Residential and Commercial property needs. Sales, Conveyancing, Lettings, Property Management, Surveys and Valuations. Call now on

Agent Details

Andrew Craig, South Shields

0191 625 0766

Next Steps?

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