This refurbished and tenanted two-bedroom mid-terrace house is a freehold property located in a desirable area for both rental investments and first-time buyers. The property briefly comprises a lounge, dining area, and kitchen on the ground floor, with stairs leading to the first-floor landing, two bedrooms, and a bathroom.

The property has an EPC rating of C. It is currently let at £5,040 per annum, but the rent will be increased to £5,400 per annum (£450 per month) upon the signing of a new agreement by the incoming owner. This provides a strong gross rental yield of 8%.

Originally refurbished in 2021, the house has been occupied by a single tenant who has maintained it well. All necessary inspections have been carried out, and the required certificates are up to date. Additionally, the property will be refurbished to meet at least the minimum standards set by the Durham Decent Homes Standard.

The financials:
▪ Purchase price: £56,000
▪ GDV: £68,000
▪ Annual profit: £2,565
▪ ROCE: 22%
▪ Yield: 8%

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.