Durham, DH6 4LN | Investment Property for Sale | VES-DH6-004

Opportunity to purchase a house in Durham generating £6,900 rent pa & gross yield of 5.3%

£130,000

Terraced House

VES-DH6-004

INITIAL INVESTMENT

£39,000

Based on

deposit: £32,500

stamp duty: £4,000

mortgage fees: £1,500

conveyancing fees: £1,000

GROSS RENT

£6,900

GROSS YIELD

5.3%

ADD TO FAVOURITES

The property

TENANCY

Tenanted

TENURE

Freehold

2 bedrooms

1 bathroom

1 reception room

638

Unfurnished

Property information

  • Spread over 2 floors
  • Ground floor comprises:
    • Living room
    • Kitchen/dining room with access to the garden
    • Downstairs WC
  • First floor comprises:
    • 2 x bedrooms
    • Family bathroom
  • The property is equipped with white goods for the kitchen and laundry, which are included in the sale
  • There is a rear garden set to grass and a small patio area
  • There are 2 allocated parking bays for the property
  • EPC rating B
  • Council tax band B
  • Monthly rental income £575
  • There is an annual amenity levy charged by Greenbelt which the vendor has paid 1 year in advance

Location information

  • The property is located in the Coxhoe area of Durham in a new development known as The Limes
  • Durham city centre is just under 6 miles from the property
  • Coxhoe has some local amenities which can easily be reached on foot
  • Easy access to the A1(M) via junction 61
  • The recently opened Amazon distribution centre, just off the A1(M) at Bowburn junction, has resulted in an abundance of tenants

Tenancy

RENT

£6,900 p.a. / £575 pcm

TENANCY DEPOSIT

£575

TENANCY TYPE

AST

TENANCY AGREEMENT STARTED

6 months ago

TENANCY AGREEMENT ENDS

11/9/2022

Floorplans

Documents available on request, please contact for viewings or further questions.

The information relating to this property is supplied by the vendor and was the latest available information at the time of listing. Certain information may expire or become inaccurate over time.

Vesta makes no warranty as to the accuracy or completeness of the property listing or any associated information. All information should be reviewed by the purchaser and their solicitor.

About Durham, County Durham

Durham is a cathedral city on the River Wear in County Durham in the north-west of England. It lies approximately 14 miles south-west of Sunderland, 20 miles south of Newcastle upon Tyne and 27 miles north-west of Middlesbrough.

The A1(M) passes just east of the city, connecting it to London and Edinburgh, whilst the A167 passes through Durham, connecting it to Topcliffe in North Yorkshire and Cowgate in Tyne and Wear where it splits into two.

Durham railway station lies on the East Coast Main Line which runs between London King’s Cross and Edinburgh Waverley. Other lines stopping at Durham are the Tees Valley Line, the North TransPennine and the Cross Country Route.

There are two airports within 25-30 miles of the city, Teesside Airport and Newcastle Airport.

Durham has a large number of local landmarks and the whole centre of the city is a designated conservation area. There are over 630 listed buildings, 569 of which are located within the city centre conservation area. Some of these are Durham Cathedral, Durham Castle, Crook Hall, Cosin’s Library, Town Hall and Guildhall, Durham Observatory and The Victoria, a public house in Hallgarth Street.

The city is also in a fantastic location for anyone interested in outdoor pursuits. There are countless walking and cycling routes in and around the city for any activity levels. One can choose from leisurely walks such as the Derwent Reservoir Walk, the Battle of Nevilles Cross Walk Route, the Deer Park at Raby Castle or the Killhope Woodland Walks. Or more challenging routes such as the Durham Heritage Coast Walk, the Teesdale Way of the Sea to Sea (C2C) Cycle Route. The nearby North Pennines also offer plenty of walking and cycling routes.

Durham city centre offers a large variety of retailers ranging from the usual high street favourites to independent boutiques and quirky stores. On the third Thursday of the month the Durham Food Producers and Crafters Market takes place in the marketplace, offering local produce, jewellery, art, plants and crafts. Whilst there is a weekly Saturday Outdoor Market with up to 30 independent traders.

Education in Durham is provided by 11 primary schools, 4 state secondary schools, New College Durham, Durham Sixth Form Centre, East Durham College and 3 independent schools. It is also home to Durham University and has an international reputation for excellence.

Durham has a thriving economy and some of the larger employers include Durham University, the University Hospital of North Durham and several Government offices.

Foundry Place,

Durham,

County Durham,

England,

DH6 4LN

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Important Note

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Your capital is at risk. Property values may decline and the property might not be able to be rented at amounts sufficient to cover debt interest costs, operating expenses and liabilities, and might not result in a positive cash flow. Property is an illiquid asset and should not be viewed as a short-term investment.

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