Pearl Lemon Properties

Property Listings (Bishop Auckland)

Save £15,000 / 3-Bedroom House with a Spectacular Terrace in the Quiet Town of Bishop Auckland / 10.8% Yield / £450 rent

£50k Purchase Price / £450 Rent / 10.8% Yield / 3-Bedroom House in Bishop Auckland

This is just an example property purchase you can do with Pearl Lemon Properties.

Don’t miss out on this unique property situated in the quiet, residential area of Bishop Auckland. This 3-bedroom house has a spectacular terrace, lovely lounge, kitchen, and a family bathroom. The entrance hallway is padded with wood flooring and a grand staircase leading to the first floor.

Lounge

12’11 x 11’09 (3.94m x 3.58m)

The lounge is spacious with a double glazed window, a central heating radiator and wood flooring.

Kitchen

13’04 x 10’11 (4.06m x 3.33m)

The kitchen is fully installed with wall units, laminated work surfaces and a stainless steel sink unit. It has tiled flooring, an electric oven and a chimney style extractor hood.

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This property is worth more than £65,000 on the market, but you’re getting an exclusive offer of £50,000 which saves you at least £15,000! Properties like this range between £65,000-80,000, so this discounted price is too good to ignore!

Family Bathroom

5’10 x 5’10 (1.78m x 1.78m)

This bathroom has a rainfall showerhead, tiled flooring, and a ceiling-mounted extractor fan.

Bedrooms

10’11 x 8’11 \ 9’07 x 5’07 \ 5’10 x 5’10

Each of the three bedrooms has double glazed windows and central heating radiators.

You’ll be just a short walk away from major stores, recreational centres, town centre and the main train station. This property is located on Woodlands Road in Bishop Auckland, you can find it here:

Financial Breakdown

Cash Purchase

Sale Price = £50,000

Estimated Rent Per Month = £450

Estimated Rent Yield = 10.8%

Finder’s Fee (inc VAT) = £3,600

Stamp Duty (2nd homeowners only) = £1,500

Mortgage Purchase

Estimated Market Value = £65,000+

Price for Quick Sale = £50,000

Mortgage @ 75% LTV = £37,500

Mortgage payments @ 2.59% = £81 pcm

Estimated Monthly Rental Income = £540 pcm

Estimated Surplus Income after Mortgage = £369 pcm

Required Deposit (75% LTV) = £12,500

Return on Investment = 23.5%

Make this lovely property your own by making your first deposit. For more information, call Kanti Walden to reserve this fantastic property at a discounted price!