Offers over
£39,999
2 bed terraced house for saleHallgarth Terrace, Ferryhill DL17
2 beds
1 bath
1 reception
EPC Rating: D
Just added
Freehold
About this property
Parking
Supplied Online Market Valuation: £64,000
£24,001 difference between asking price and supplied online valuation
Lowest supplied locally marketed 2-bed comparable: £59,500
Current Rent: £450 pcm / £5,400 per annum
Current Gross Yield: Approximately 13.5% at the asking price
Tenant in situ since 2019 and wishes to remain
Potential for a future rental review, subject to market evidence and the appropriate tenancy process
EPC Rating supplied: D – 60, with potential B – 85
Asking Price: Oiro £39,999 - Sourcing Fee: £2,500 – see fee structure below
Property number 54160. Enquire through Zoopla's messaging system and we'll respond within 5 minutes, 24/7
**tenanted two-bedroom investment opportunity – ferryhill, county durham**
**key investment points**
• **Asking Price: £39,999**
• **Sourcing Fee: £2,500** – see fee structure below
• **Supplied Online Market Valuation: £64,000**
• **£24,001 difference between asking price and supplied online valuation**
• **Lowest supplied locally marketed 2-bed comparable: £59,500**
• **Current Rent: £450 pcm / £5,400 per annum**
• **Current Gross Yield: Approximately 13.5% at the asking price**
• **Tenant in situ since 2019 and wishes to remain**
• **Existing income-producing buy-to-let opportunity**
• **Potential for a future rental review, subject to market evidence and the appropriate tenancy process**
• **Selective licence currently held by amrp, subject to management arrangements**
• **EPC Rating supplied: D – 60, with potential B – 85**
• **eicr supplied with expiry date of 24 February 2027**
### investment overview
This two-bedroom property at Hallgarth Terrace, Ferryhill is being marketed particularly with landlords and property investors in mind.
The opportunity combines a relatively low acquisition price with an established tenant and existing rental income.
The property is offered at an asking price of **£39,999**, compared with a supplied online market valuation of **£64,000**.
That represents a difference of **£24,001**, with the asking price approximately **37.5% below the supplied online valuation**.
The pricing also compares favourably with the locally marketed properties supplied for comparison.
The lowest supplied two-bedroom comparable is on Lanark Terrace, described as being on the neighbouring street, and is marketed at **£59,500**.
That is **£19,501 higher than the asking price of this property**.
Further supplied Ferryhill comparables are currently marketed at:
• **£64,750**
• **£73,000**
• **£74,950**
These are asking-price comparables rather than evidence of completed sale values, and investors should undertake their own valuation and comparable-market assessment. Nevertheless, the difference between the **£39,999 asking price**, the supplied **£64,000 online valuation** and the supplied asking prices of other locally marketed properties provides a clear reason for investors to investigate the opportunity further.
### existing rental income
The property is currently tenanted at:
**£450 per calendar month**
Equivalent to:
**£5,400 per annum**
Based on the asking price of £39,999, the existing rent represents a **gross yield of approximately 13.5%** before management fees, maintenance, insurance, finance, taxation, licensing and other costs associated with property ownership.
For investors seeking an existing buy-to-let rather than a vacant property, an important feature of this opportunity is that the property already has a tenant in occupation.
The supplied information states that the **same tenant has occupied the property since 2019 and wishes to remain**.
Subject to the existing tenancy and completion arrangements, this provides a prospective purchaser with an established tenancy and existing rental income rather than having to acquire the property vacant and subsequently source a new tenant.
### potential rental review
The current contractual rent is **£450 pcm**.
The information supplied also identifies the potential for a future rent increase as one of the investment considerations.
No supported higher market rental figure has been supplied, however, so no increased rent or potential future yield is being advertised.
Any future rental review would need to take account of prevailing market rents, the existing tenancy and the appropriate legal process.
For an investor, this is therefore an area for further investigation rather than assumed future income.
### price positioning
One of the principal reasons this property may warrant closer investigation is its entry price.
**Property Asking Price: £39,999**
**Supplied Online Valuation: £64,000**
**Difference: £24,001**
The asking price is therefore approximately **37.5% below the supplied online valuation**.
The supplied local asking-price evidence also includes a two-bedroom property on nearby Lanark Terrace marketed at **£59,500**.
Compared with that property, the subject property's asking price is **£19,501 lower**.
Other supplied locally marketed properties have asking prices of **£64,750, £73,000 and £74,950**.
Investors should note that online valuations and asking-price comparables are not the same as a formal valuation or evidence of achieved sale prices. Buyers should therefore undertake their own due diligence and satisfy themselves as to the property's value.
However, the difference between the acquisition price and the supplied valuation and local asking-price evidence is a significant feature of this particular opportunity.
### tenancy position
The property is being sold as a **tenanted investment opportunity**.
The tenant has reportedly occupied the property since **2019** and has indicated that they wish to remain.
For a landlord looking to add another income-producing property to an existing portfolio, this may remove some of the initial void and tenant-finding considerations associated with purchasing a vacant buy-to-let.
Prospective purchasers should review the tenancy documentation and associated information as part of their legal due diligence.
### licensing
A **Selective Licence is required** for the property.
The supplied information states that the existing licence is currently held by amrp.
Should the new owner retain amrp's management services, the supplied information indicates that the owner's details can be updated on the existing licence.
Should the purchaser choose to move management elsewhere, a **new Selective Licence would be required**.
The supplied council licence fee is **£550**, with an amrp administration fee of **£240 including VAT** for an application where applicable.
Purchasers should confirm the applicable licensing position and costs as part of their due diligence.
### EPC and electrical information
The supplied EPC information records:
**Current EPC Rating: D – 60**
**Potential EPC Rating: B – 85**
The supplied eicr has an expiry date of:
**24 February 2027**
Relevant certificates and compliance documentation should be reviewed and confirmed by the purchaser and their legal representatives before completion.
### why might A landlord investigate this property?
For investors assessing opportunities primarily on acquisition price, existing income and the ability to acquire an established buy-to-let, the property has several features worthy of further investigation:
• **£39,999 asking price**
• **£24,001 below the supplied £64,000 online valuation**
• **At least £19,501 below the lowest supplied locally marketed 2-bed asking-price comparable**
• **Existing rent of £450 pcm / £5,400 per annum**
• **Approximately 13.5% gross yield at the asking price**
• **Tenant already in situ**
• **Same tenant since 2019**
• **Tenant has indicated that they wish to remain**
• **Potential for a future rental review, subject to supporting market evidence and the appropriate process**
• **Existing selective licensing arrangements where amrp management is retained, subject to confirmation**
Taken together, the proposition is particularly suited to investors who are prepared to undertake their own due diligence and are looking for an established, income-producing buy-to-let at a comparatively low acquisition price.
### purchase price and sourcing fee
**Asking Price: £39,999**
**Sourcing Fee: £2,500**
For complete transparency, the £2,500 sourcing fee is structured as follows:
**£60 – payable to amrp's partner, Lifetime Legal, at the point an offer is accepted.**
This payment funds the required Anti-Money Laundering, Proof of Funds and Source of Funds checks.
**£2,440 – payable to amrp Buy to Let Advisory Services Limited on completion of the transaction.**
The £2,440 is processed by the purchaser's solicitor as a disbursement on completion.
**Total Sourcing Fee: £2,500**
The sourcing fee is separate from the property's **£39,999 asking price** and should be factored into the purchaser's overall acquisition costs.
### important investor considerations
As with any property investment, prospective purchasers should undertake their own due diligence before proceeding.
In particular, investors should satisfy themselves regarding the property's value, condition, tenancy documentation, rental position, licensing requirements, compliance documentation, legal title and all associated acquisition and ownership costs.
The gross yield quoted is calculated using the existing annual rent of **£5,400** divided by the **£39,999 asking price**. It does not take account of the sourcing fee, management charges, maintenance, insurance, finance, taxation, licensing, void periods or other ownership costs.
Online valuations and asking-price comparables should not be treated as formal valuations or guarantees of the property's current or future value.
### viewing and further information
Further property, tenancy and investment information is available to genuinely interested purchasers.
**Contact the agent for further information or to arrange a viewing.**
**tenanted two-bedroom investment opportunity – ferryhill, county durham**
**key investment points**
• **Asking Price: £39,999**
• **Sourcing Fee: £2,500** – see fee structure below
• **Supplied Online Market Valuation: £64,000**
• **£24,001 difference between asking price and supplied online valuation**
• **Lowest supplied locally marketed 2-bed comparable: £59,500**
• **Current Rent: £450 pcm / £5,400 per annum**
• **Current Gross Yield: Approximately 13.5% at the asking price**
• **Tenant in situ since 2019 and wishes to remain**
• **Existing income-producing buy-to-let opportunity**
• **Potential for a future rental review, subject to market evidence and the appropriate tenancy process**
• **Selective licence currently held by amrp, subject to management arrangements**
• **EPC Rating supplied: D – 60, with potential B – 85**
• **eicr supplied with expiry date of 24 February 2027**
### investment overview
This two-bedroom property at Hallgarth Terrace, Ferryhill is being marketed particularly with landlords and property investors in mind.
The opportunity combines a relatively low acquisition price with an established tenant and existing rental income.
The property is offered at an asking price of **£39,999**, compared with a supplied online market valuation of **£64,000**.
That represents a difference of **£24,001**, with the asking price approximately **37.5% below the supplied online valuation**.
The pricing also compares favourably with the locally marketed properties supplied for comparison.
The lowest supplied two-bedroom comparable is on Lanark Terrace, described as being on the neighbouring street, and is marketed at **£59,500**.
That is **£19,501 higher than the asking price of this property**.
Further supplied Ferryhill comparables are currently marketed at:
• **£64,750**
• **£73,000**
• **£74,950**
These are asking-price comparables rather than evidence of completed sale values, and investors should undertake their own valuation and comparable-market assessment. Nevertheless, the difference between the **£39,999 asking price**, the supplied **£64,000 online valuation** and the supplied asking prices of other locally marketed properties provides a clear reason for investors to investigate the opportunity further.
### existing rental income
The property is currently tenanted at:
**£450 per calendar month**
Equivalent to:
**£5,400 per annum**
Based on the asking price of £39,999, the existing rent represents a **gross yield of approximately 13.5%** before management fees, maintenance, insurance, finance, taxation, licensing and other costs associated with property ownership.
For investors seeking an existing buy-to-let rather than a vacant property, an important feature of this opportunity is that the property already has a tenant in occupation.
The supplied information states that the **same tenant has occupied the property since 2019 and wishes to remain**.
Subject to the existing tenancy and completion arrangements, this provides a prospective purchaser with an established tenancy and existing rental income rather than having to acquire the property vacant and subsequently source a new tenant.
### potential rental review
The current contractual rent is **£450 pcm**.
The information supplied also identifies the potential for a future rent increase as one of the investment considerations.
No supported higher market rental figure has been supplied, however, so no increased rent or potential future yield is being advertised.
Any future rental review would need to take account of prevailing market rents, the existing tenancy and the appropriate legal process.
For an investor, this is therefore an area for further investigation rather than assumed future income.
### price positioning
One of the principal reasons this property may warrant closer investigation is its entry price.
**Property Asking Price: £39,999**
**Supplied Online Valuation: £64,000**
**Difference: £24,001**
The asking price is therefore approximately **37.5% below the supplied online valuation**.
The supplied local asking-price evidence also includes a two-bedroom property on nearby Lanark Terrace marketed at **£59,500**.
Compared with that property, the subject property's asking price is **£19,501 lower**.
Other supplied locally marketed properties have asking prices of **£64,750, £73,000 and £74,950**.
Investors should note that online valuations and asking-price comparables are not the same as a formal valuation or evidence of achieved sale prices. Buyers should therefore undertake their own due diligence and satisfy themselves as to the property's value.
However, the difference between the acquisition price and the supplied valuation and local asking-price evidence is a significant feature of this particular opportunity.
### tenancy position
The property is being sold as a **tenanted investment opportunity**.
The tenant has reportedly occupied the property since **2019** and has indicated that they wish to remain.
For a landlord looking to add another income-producing property to an existing portfolio, this may remove some of the initial void and tenant-finding considerations associated with purchasing a vacant buy-to-let.
Prospective purchasers should review the tenancy documentation and associated information as part of their legal due diligence.
### licensing
A **Selective Licence is required** for the property.
The supplied information states that the existing licence is currently held by amrp.
Should the new owner retain amrp's management services, the supplied information indicates that the owner's details can be updated on the existing licence.
Should the purchaser choose to move management elsewhere, a **new Selective Licence would be required**.
The supplied council licence fee is **£550**, with an amrp administration fee of **£240 including VAT** for an application where applicable.
Purchasers should confirm the applicable licensing position and costs as part of their due diligence.
### EPC and electrical information
The supplied EPC information records:
**Current EPC Rating: D – 60**
**Potential EPC Rating: B – 85**
The supplied eicr has an expiry date of:
**24 February 2027**
Relevant certificates and compliance documentation should be reviewed and confirmed by the purchaser and their legal representatives before completion.
### why might A landlord investigate this property?
For investors assessing opportunities primarily on acquisition price, existing income and the ability to acquire an established buy-to-let, the property has several features worthy of further investigation:
• **£39,999 asking price**
• **£24,001 below the supplied £64,000 online valuation**
• **At least £19,501 below the lowest supplied locally marketed 2-bed asking-price comparable**
• **Existing rent of £450 pcm / £5,400 per annum**
• **Approximately 13.5% gross yield at the asking price**
• **Tenant already in situ**
• **Same tenant since 2019**
• **Tenant has indicated that they wish to remain**
• **Potential for a future rental review, subject to supporting market evidence and the appropriate process**
• **Existing selective licensing arrangements where amrp management is retained, subject to confirmation**
Taken together, the proposition is particularly suited to investors who are prepared to undertake their own due diligence and are looking for an established, income-producing buy-to-let at a comparatively low acquisition price.
### purchase price and sourcing fee
**Asking Price: £39,999**
**Sourcing Fee: £2,500**
For complete transparency, the £2,500 sourcing fee is structured as follows:
**£60 – payable to amrp's partner, Lifetime Legal, at the point an offer is accepted.**
This payment funds the required Anti-Money Laundering, Proof of Funds and Source of Funds checks.
**£2,440 – payable to amrp Buy to Let Advisory Services Limited on completion of the transaction.**
The £2,440 is processed by the purchaser's solicitor as a disbursement on completion.
**Total Sourcing Fee: £2,500**
The sourcing fee is separate from the property's **£39,999 asking price** and should be factored into the purchaser's overall acquisition costs.
### important investor considerations
As with any property investment, prospective purchasers should undertake their own due diligence before proceeding.
In particular, investors should satisfy themselves regarding the property's value, condition, tenancy documentation, rental position, licensing requirements, compliance documentation, legal title and all associated acquisition and ownership costs.
The gross yield quoted is calculated using the existing annual rent of **£5,400** divided by the **£39,999 asking price**. It does not take account of the sourcing fee, management charges, maintenance, insurance, finance, taxation, licensing, void periods or other ownership costs.
Online valuations and asking-price comparables should not be treated as formal valuations or guarantees of the property's current or future value.
### viewing and further information
Further property, tenancy and investment information is available to genuinely interested purchasers.
**Contact the agent for further information or to arrange a viewing.**
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