Latest Valuation
£115,000
ROCE
16.8%
Selling Agent
Sourced Derby

16.8% ROCE – Tenanted 3 Bed Mid-Terraced Buy-to-Let

The current tenant has resided in the property since August 2016.
Guide Price
£93,000

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Key Features

  • 3 bed mid-terraced property
  • Tenanted
  • Gas centrally heated
  • UPVC double glazed
  • Very good condition
  • ROCI: 16.8%

The Property

Sourced are delighted to present this mid-terraced investment opportunity with a fantastic ROCE of 16.8%.

The property consists of a large lounge, dining room, kitchen, 3 large bedrooms and a bathroom. It is gas centrally heated, has UPVC double-glazing and is in very good condition.
The property has parking, a yard to the rear and is freehold.
The current tenants have resided in the property since August 2016 on a rent of £500 pcm.
This produces a gross yield of 6.4% based on a purchase price of £93,000.
If purchased with a BTL mortgage with a 25% deposit, you could achieve 16.8% ROCI inclusive of SDLT and sourcing fee.
The landlord has owned the property for 10 years and is selling in order to concentrate on property development.

Sourcing fee = £3,000
Stamp duty estimate prior to 31st March 2021– £2,790 (3% for additional property if applicable).
Any interested parties should conduct their own due diligence.

Yield and return on capital invested illustration is based on the following:

Purchase price: £93,000:
Gross yield figure of 6.4% equates to £6,000 annual rent divided by purchase price of £93,000

ROCI illustration is based on:
Purchase price: £93,000 at 25% deposit = £23,250 + £2,790 (SDLT) + £3,000 (sourcing fee) = £29,040
Annual rent: £6,000 pa
Mortgage 2 year discount at 1.54% (Leeds) £1,104 pa
£,6000 - £1,104 = £4,896
£4,896 divided by £29,040 = 16.8% ROCI

Planning Information

N/A

The Plan

Off-market 3 bed mid-terraced property available to purchase.

The Financials:

Purchase price: £93,000
Current value: £115,000
Sourcing fee: £3,000
Rental income: £6,000 pa
ROCE: 16.8%

The Location

Bishop Auckland, County Durham, England is located about 12 miles (19 km) northwest of Darlington and 12 miles (19 km) southwest of Durham. Bishop Auckland has a population circa 25,000 and has excellent access being served by main trunk roads and rail links.

Local landmarks include Auckland Castle's Gatehouse, Binchester Roman Fort, Newton Cap Viaduct, Escomb Saxon Church, St Andrew's Parish Church and St Helen's Church.

The town has a number of grade I listed buildings. The grounds of Auckland Castle alone contain seven such structures.

Auckland Castle also provides the setting for Lewis Carroll's story "A Legend of Scotland".

The Castle re-opened in early November 2019, after a multi-million pound restoration. Additional work continued at and near the castle to make to town a significant tourist attraction.

Reports suggests that the revival of the area, dubbed the Auckland Project, will eventually cost a total of about £150,000,000.

Average estimated value for a house in DL14 7NB

£101,500

Properties in DL14 7NB had an overall average price of £101,500 over the last year.

Overall, sold prices in DL14 7NB over the last year were 23% up on the previous year and 21% down on the 2010 peak of £129,000