Refurbished and Tenanted 2-Bed Terraced House

This freehold property is an excellent investment opportunity, ideally suited for both rental purposes and first-time buyers. The layout briefly comprises a porch entrance leading to the lounge with stairs to the first floor, a kitchen, and a shower room with a toilet. Upstairs, the first-floor landing provides access to two bedrooms.

Situated in a strong rental area, the property was originally refurbished in November 2021 and has been recently refreshed for the current tenant. It is well-maintained, with all certificates up to date and compliant with both the Durham Decent Homes Standard and current selective licensing conditions at the point of sale.

With an EPC rating of D, this property is currently let at £450 pcm, generating an annual rental income of £5,400 and offering an impressive 10% yield.

The financials:
▪ Purchase price: £54,000
▪ GDV: £78,000
▪ Annual profit: £2,228
▪ ROCE: 111%
▪ Yield: 10%

Sourced endeavour to make our particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and are not to be relied as statements of representation or fact. The selling agent may or may not be the sole agent and will provide confirmation upon request. Any services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency given. All measurements have been taken as a guide and are not precise, please be aware some of the details may be waiting vendor approval. If you require confirmation or further information, please contact the selling agent. Fixtures and fittings are to be confirmed with the seller and not relied upon when listed. Sourced are not responsible for any loss of monies due to the purchase or purchase process with any property listed.