2 bedroom terraced house for saleSeventh Street, Peterlee, County Durham, SR8
Sold STC £14,000
- Excellent Location
- In need of some modernisation
- Potential gross yield of 30.68%, after cost of works
- Excellent rental potential
- Estimated rent £5,200 per annum, after modernisation
- Close proximity to amenities
- Good Transport Links
The subject property is located on the eastern side of Seventh Street in the village of Hordon, Peterlee which is 13 miles south of Sunderland and 7.5 miles north of the historic town of Hartlepool.
Sunderland and Hartlepool which are both nearby and accessed easily by a regular bus service, offer all the shops and services expected from large towns. The property is also a 1 mile walk from the Durham Heritage Coastline which offers beautiful scenery.
This two bedroom terraced property is entered from street level directly into the front lounge. This in turn leads to the dining room / kitchen. Stairs lead to the first floor which accommodates two good sized bedrooms and a family bathroom.
We understand the property is freehold
We are advised by the vendor that approximately £3,000 is needed to bring the property in to a lettable condition. Following these improvements, it is envisaged the property will let for £5,200 pa. Assuming the works cost £3,000, based on a guide price of £14,000, this will provide a gross yield of 30.68%.
Total 68m2 732ft2
Approx. gross internal floor area (taken from EPC)
The property is rated in Council Tax Band A . Council Tax payable (2016/2017) is £907.42.
PLEASE NOTE THE WINDOWS ARE CURRENTLY BOARDED OVER
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*Guide Price: An indication of a seller's minimum expectation at auction and given as a Guide Price or a range of Guide Prices. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.
Reserve Price: Each auction property will be subject to a Reserve Price below which the property cannot be sold at auction. Normally the Reserve Price will be set within the range of Guide Prices or no more than 10% above a single Guide Price.
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