3 Bedroom Mid-Terrace House
Income from Day 1
Estimate End Value: £70,000 – £75,000
Agreed Purchase Price: £57,000
Nearest hospital (Bishop Auckland Hospital) – 10 mins drive
Shildon Train station – 5 mins drive
3 primary schools rated (good – outstanding) within close proximity – 8 mins drive
Durham University – 21 mins drive
Option 1: As Is
• Current Rent: £550 pcm
• Current Yield: 11.6%
• Current ROI(Mortgage): 14.5%
• Only £24k Needed
Option 2: Complete a cosmetic refurb and increase the rent.
• Refurb Estimate: £6,700
• Market Rent: £650 pcm
• Potential Yield: 12.2%
• Potential ROI (Mortgage): 14.7%
• Only £31k needed