Sourced Approved Investment

Hands Off BRRR Durham North East - House

£ 37,500

Added: 13/02/2025

Profit pa£4,088

ROCE28%

Yield9%

Property description

Strategy: Buy to Let

Deal 50 - Hands-Off BRRR: Durham

This is a 2-bedroom terraced home in Durham.

Our All-Inclusive Service:
• Property Sourcing: We identify and secure profitable investment opportunities.
• Finance: We assist with securing competitive financing options.
• Refurbishment: Our in-house team handles all renovation and refurbishment work.
• Tenant Placement: We find reliable tenants and manage the tenancy process.
• Property Management: We provide comprehensive property management services, including rent collection and maintenance.

Key Investment Highlights:
▪ Purchase price: £37,500
▪ GDV: £75,000
▪ Refurb costs: £26,750,00
▪ Estimated monthly rent: £575.00
▪ Estimated yearly net profit: £4,088
▪ ROCE: 28%
▪ Gross yield: 9%

Sourced reference: 933982794298441

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.

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Due diligence

Housing Developments:
Bluebell Gardens (Trimdon Village): This is a new development by Homes by Esh off Salters Lane. It's likely to involve new roads, utilities, and landscaping.
Affordable Housing: Karbon Homes has submitted plans for 43 affordable bungalows west of Salters Lane. This would include 20 for affordable rent and 23 for over-55s, with associated infrastructure like roads, parking, and landscaping.

Renewable Energy:
Trimdon Grange Wind Farm: This is an existing wind farm with 4 turbines. While it's operational, there might be ongoing maintenance or upgrades to the site.

Transport:
Highways Improvements: The Karbon Homes affordable housing project mentions off-site highway improvements, including speed humps and a pedestrian crossing, to improve road safety in the area.

Community Facilities:
Community Benefits Fund: EDF Energy, associated with the wind farm, has a fund for local community groups and projects in and around Trimdon Grange.
This could support improvements to existing facilities or the creation of new ones.

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Sales Agent

Mr Keeshan Pillay

KLAP Property Group Ltd

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