Bishop Auckland – £57,900

Net Return – 7%

Bishop Auckland – £57,900 Array, Array

£57,900

Description

This two bed freehold terraced house is located at 119 Dans Castle, Tow Law, Bishop Auckland. Set off the main road in Dans Castle, this property boasts a good sized lounge with a fireplace, a kitchen with modern wall and base units and solid wood work surfaces. On the first floor is a family bathroom with modern suite and two bedrooms.The management company have already screened the tenants and they will place the tenants once you have closed on the property, you will receive one months rent on closing. This property is managed by a great local management company.

Bishop Auckland is a very central location in the North-East of England, it is only 11.2 miles from Durham City which is famous for its Cathedral and 28 miles from the seaside town of Hartlepool, it is also just over 20 miles to Newcastle City.

Property Details

• New carpets. • New windows. • Double glazing. • Updated kitchen. • New bathroom. • Fully managed. • Local staff.

Investment Calculation

Purchase price: £57,900

Gross annual rental income: £4,620

Property running costs: £2,078
(Tax, insurance and management costs)

Net annual rental income: £2,542

Investment calculation - Net Income divided by Purchase price = NET ROI.

Return on investment: 7%

Break even in 14.2 Years

Detail

Price: £57,900

Net Return: 7%

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