Dean Road, South Shields
A buy to let residential property refurbishment undertaken by Clarice Carr & Company.
Dean Road, South Shields
This property benefited from generous proportions and high ceilings, but it has been neglected by the previous owner and required some TLC (and a lot of hard work) to bring it up to standard for residential lettings. It's a great location, close to the Metro and road links into South Shields. It rented out within 9 days.
Improvement Works
New kitchen
Reconfigured bathroom
Decorated throughout
New carpets and flooring
New boiler
New back door and some windows
New back gates to yard
Partial rewire
Investment Analysis
Purchase Price: £39,000
Costs (inc Stamp Duty): £565
Refurb costs: £12,500
Our fees: £1,500
Total Spend: £53,565
Current Valuation: £70,000
Equity Created: £16,435
Monthly Rental: £450
Annual Return: 10.08%
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