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2 bedroom terraced house for sale

Seventh Street, Peterlee, County Durham, SR8

Sold STC £14,000

Property Description

Key features

  • Excellent Location
  • Freehold
  • 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

Full description

Location
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.

Description
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.

Tenure
We understand the property is freehold

Investment analysis
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%.

Accommodation

Total 68m2 732ft2

Approx. gross internal floor area (taken from EPC)

Council Tax
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


More information from this agent

Listing History

Added on Rightmove:
17 October 2016

Map & Street View

Disclaimer - Property reference 79seventhst. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by John Pye Property, Nottingham . Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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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.”

Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call John Pye Property, Nottingham on 0115 970 6060.


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