Black & white bathroom
Latest Valuation
£125,000
ROCE
27%
Location

27% ROCE – Discounted Tenanted Buy-to-Let in Durham

This ready to move in property, consists of a 3 bedroom townhouse, spread over 3 floors.
Guide Price
£115,000

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Key Features

  • Discounted property
  • Tenanted
  • Regeneration area
  • Townhouse
  • 27% ROCE

The Property

Sourced are proud to present this 3 bedroom discounted buy-to-let property, with a huge ROCE of 27% in Durham, New Herrington.

This ready-to-move-in property is perfectly situated in-between Washington and Sunderland.

The home is situated well for all local amenities, including shops and schools with major transport links nearby, as well as being 5 minutes away from Doxford Park and the A19 and the same from Washington and the A1 so commuting is excellent.

The property is also on the doorstep of Herrington Country Park and acres of countryside and forest.

Planning Information

N/A

The Plan

Sourced Chester are pleased to present this 3 bedroom townhouse benefiting from tenants in situ.

Estimated on market value: £125,000

Purchase price: £115,000

Discount: £10,000

Current rent pcm: £630

Yield: 6.6%

Deposit (25%): £28,750

Stamp duty: £3,450

Purchasing costs: £2,000

Total money in: £34,200

Mortgage payment (2.2%): £158

Management fee (10%): £63

Annual net profit: £4,907

The Location

Plans to sell a former Wearside colliery site to make way for a multi-million pound retail development have been given the green light.

"The development will create 90 jobs in the construction, 135 in the supply chain and 215 jobs in the retail units,"

"This will generate an inward investment of £12 million and additional business rates with an income of £500,000 whilst also allowing for the regeneration of a brownfield site and obtaining a capital receipt for the council."

Average estimated value for a house in DH4 4LH

£138,109

Properties in Houghton Le Spring, had an overall average price of £138,109 over the last year.

The majority of sales in Houghton Le Spring during the last year were terraced properties, selling for an average price of £90,445.

Semi-detached properties sold for an average of £124,194, with detached properties fetching £225,497.