Latest Valuation
£65,000
ROCE
%
Location

27% BMV – Tenanted 3 Bedroom Property in County Durham

Off-Market Investment Property in Coundon
Guide Price
£47,000

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Key Features

  • 3 Bedrooms
  • 2 Reception Rooms
  • Modern Kitchen
  • Backyard
  • Yield 9.73%
  • 27% BMV

The Property

This discounted off-market property in Bishop Auckland, County Durham offers a fantastic investment opportunity, generating income from day 1. The property is already tenanted. 3 Bedrooms, 2 reception rooms recently refurbished and have management in place, offering a hands-off investment.

The Property
Amazing 27% below market value, BTL opportunity.
17.61% ROI managed by estate agency, hands-off investment.
- 3 bed house, £47,000+ fees
- 2 reception rooms
- modern kitchen
- total area: 1127 sq ft (114 sq m)

The property is located within close proximity to all local amenities including schools, shops and transport links.

An extensive public transport system in the area offering access to not only the neighbouring towns and villages but to further afield places such as Darlington, Durham and Newcastle.

The accommodation comprises of entrance hall with a porch, lounge, dining room, fitted kitchen, utility room, three good sized bedrooms, bathroom and enclosed courtyard. Off road parking is also available to the front of building.

Purchase price - £47,000
Valuation - £65,000
Solicitor fee - £1,000
Survey - £1,000
Stamp Duty - £1,140
Initial Investment - £11,750 on a buy to let mortgage.
Sourcing Fee - £2,000

Monthly cashflow:
Rent - £425
Mortgage Interest - £137
Insurance - £18
Management Fee – £51
Profit per month - £219 on a buy to Let mortgage.

Planning Information

N/A

The Plan

To buy and hold as an income source.

The property has been tenanted by a family since October 2019, a year tenancy agreement.

The Location

Coundon is located in the county of Durham, North East England, two miles north of the town of Shildon, ten miles north of the major town of Darlington, 108 miles south-east of Edinburgh, and 226 miles north of London. Coundon falls within the unitary authority of County Durham.

It is in the DL14 postcode district. The post town for Coundon is Bishop Auckland.

Average estimated value for a house in DL14

£64,997

Sold Properties:
Feb 2019 - £65,000

Simmilar property is for sale at £64,995
https://www.rightmove.co.uk/property-for-sale/property-85748738.html