Overview
Vacant 2-bedroom mid-terrace in Ferryhill, County Durham. Property has water damage from a burst pipe and requires refurbishment — estimated £15,000. Structurally sound. A straightforward BRRR play with strong comparable evidence on the same street supporting a post-refurbishment value of £70,000–£80,000. Asking £33,000.
Condition
Water damage from a burst pipe affects internal finishes; no structural issues. Refurb scope and contractor quotes are in the pack — buyer should budget circa £15,000 to bring back to a refurbed / lettable standard. EPC: D pre-refurb.
The Numbers
Asking Price: £33,000 | Buyer Fee: £3,000 | Estimated Refurb: £15,000 | Total Investment: £51,000 | Post-Refurb GDV: £70,000–£80,000 | Projected Rent (refurbed): £500–£600 pcm | Gross Yield (on total cost): 11.8%–14.1% | Tenure: Freehold | Condition: Requires refurbishment (water damage) | EPC: D
The Deal
BRRR arithmetic: £51,000 all-in, refurbed value £75,000 midpoint. At 75% LTV refinance = £56,250 recovered — pulls roughly £5,000 of cash back out at completion of works, leaving a fully tenanted, fully refurbed asset effectively cost-neutral. Direct comparable: a neighbouring property on the same street was purchased for £29,000 and sold refurbished for £74,999 within five months. DL17 0AW postcode average: £41,888 across 9 recent transactions; most expensive sale on the street: £74,999. Below the £250K SDLT threshold — no stamp duty.
Investment Pack
Pack includes the refurb scope, contractor quotes, comparable evidence file, refinance projections, money-left-in modelling, and seller motivation context. Sent same-day on request.