What is a Sourced Approved Investment?
These properties have been carefully sourced and packaged by experienced property investment specialists and trusted Sourced Partners.
- Pre-vetted for investment potential
- Due diligence carried out
- Tailored for investor goals
- Backed by Sourced's expertise and network
Key financials
Profit pa£2,434
ROCE11%
Yield10%
Purchase £ £7,500
Property description
Strategy: Buy to Let
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 £50,000 and we believe the vendor would consider a lower offer from the right buyer. The vendor previously paid £59,500 for the property in 2022.
The property would benefit from a small amount of improvement works. There is a list of works required with an estimated cost. This would subject to a formal quote.
The financials:
▪ Purchase price: £50,000 ( We believe this is Negotiable)
▪ Estimated Market Value: £59,500
▪ Refurb costs: Estimated £1950
▪ Annual profit: £2,434.20 (Current Rent of £475)
▪ ROCE: 11%
▪ Gross Yield: 10%
If property is re-presented to the market after the improvement works
▪ Estimated Market Rent £495–£525 PM
▪ Estimated Annual profit: £2,615.64 to £2,887.80
▪ ROCE: 12% to 13%
▪ Gross Yield: 10% to 11%
The property is currently self managed by the owner, but we have a lettings agent with over 20 years experience of the local market positioned ready to take over management of the property.
Sourced reference: 854672189221192
Due diligence
No information supplied.
Location
Disclaimer
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.
Key financials
Profit pa£2,434
ROCE11%
Yield10%
Purchase £ £7,500
Sales Agent
Matt Matthews
Lean Property Ltd / Triple M Real Estate
Smart support to move your deal forward
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What is a Sourced Approved Investment?
These properties have been carefully sourced and packaged by experienced property investment specialists and trusted Sourced Partners.
- Pre-vetted for investment potential
- Due diligence carried out
- Tailored for investor goals
- Backed by Sourced's expertise and network