2-Bed BTL in Durham

Tenanted 2-Bed BTL Durham: Make an Offer

We are pleased to present this discounted, off-market and direct-to-vendor tenanted 2-bedroom BTL property in Durham.
This is currently on offer for £45,000 : Vendor is Open to Offers for a quick Cash Sale.

Key Highlights
Last Sold for £68,000 (2006)
• Estimated Market Value: £55,000-£65,000
• Tenure: Tenanted
• Bedrooms: 2
• Management Team in Place.
• EPC: D-66 (Potential B-89) – Expiry 05/10/2026
• No Selective Licence Required

There is an amount of work required to get the property up to an acceptable standard to maximise the rent. An Indicative quote has been prepared.

Financials:
▪ Purchase price: £45,000
▪ GDV: £55,000
▪ Estimated Refurbishment: £6,899
▪ SDLT: £2250
▪ Rent: £495
▪ Management In Place 14.4% inc
▪ Net Annual profit: £2725.14
▪ ROCE: 15%
▪ Gross yield: 13%
▪ Net Yield: 5%

We would recommend trying to secure the property at just below the £40,000 mark. This would negate the £2250 SDLT and also secure another £5000 discount on the current asking price. This £7250 would cover the estimated works required.

For more information please get in touch.

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