Tenanted 2-bedroom terraced house.
The property is freehold.
The property briefly comprises of entrance hall with stairs to first floor, lounge, dining room, kitchen and bathroom.
First floor landing, 2 bedrooms.
The property is in a good area for high yield rental properties and for first time buyers.
This property is currently let at £4,800 per year, £400 per month which gives a yield of 9%. We are expecting this to increase in April 2024 when the local housing allowence (LHA rate) increases, but we are not sure what the increase will be yet.
This property had a full refurbishment including new central heating and boiler in 2021 and was refreshed this year for a new tenant that has been there since then. We will ensure that the property is to a minimum of the Durham Decent Homes Standard and also to the standard for the current selective licensing conditions, at the point of sale.
For more information please click on the following link - refurbishment-process