Property description
** Excellent Investment Opportunity ** £10k refurbishment required; including UPVC double gazing, Heating system & Conversion of Master bed into 2 beds to maximise rental income. Reduced price requires fast sale.
Rental Return = £433 pcm
Professional management 10% = £43.30 pcm
Deposit 20% = £8,000
Refurbishment required = £10,000
Loan 80% LTV with 4% Int Rate = £102.66 pcm
Positive Cash Flow = £283.04 pcm
Return on Capital Invested = 21.8%
Return for Cash Purchase = 10.4%
Figures are for illustration purposes only, please contact a financial adviser who can give you personalised projections
Local area: An excellent time to purchase a Below Market Value property in County Durham
Launching in July 2016, The Eleven Arches project which will feature \‘Kynren - an Epic tale of England\‘ set in the grounds of Auckland Castle, Bishop Auckland. Hailed as a must see attraction, will attract up to 800,000 visitors a year. The £60 Million project to renovate Auckland Castle & Bishop Auckland Market Place is also well underway.Copy & paste this link into your browser for details: www.thisisdurham.com/kynren. In Newton Aycliffe, an £82m Hitachi train factory has been officially opened in September 2015. The Hitachi plant will employ 730 workers assembling high-speed Intercity trains for the East Coast and Great Western main lines. The Prime Minister David Cameron said it was a \"show of confidence\" in the region. \"This is Hitachi\‘s first factory in Europe and their massive investment is a sign of their commitment to the United Kingdom and a real show of confidence in our economy and of confidence in the North East,\"
Approx year built:
1930
Type of property:
Terrace
Structure:
Brick
Roof:
Tile
Tenure:
Freehold
External:
Rear yard
Approx rebuild cost:
£140k for insurance purposes
£1000 Reservation fees apply to begin the purchase process
Property Features :
- Rare to the market Investment Opportunity
- Conv to a 3 bed to maximise Rent
- New DBL glazing & Central heating req
- Refurbishment required
- Val after refurb £75k