1, Bell Street, Bishop Auckland, DL14 6BA

Property number 54097.

Enquire through Zoopla's messaging system and we'll respond within 5 minutes, 24/7 tenanted buy-to-let investment - 12% current gross yield - potential rental uplift - oiro £55,000 oiro £55,000 Currently tenanted at £550 pcm / £6,600 per annum 12% current gross yield based on £55,000 purchase price Estimated market rent of £595 pcm / £7,140 per annum Potential gross yield of approximately 13% at the stated market rent Current rent approximately £45 pcm below the stated market rent 3-bedroom end-terrace investment property Freehold - Council Tax Band A - EPC D (67) Investment overview Offered with landlords and property investors particularly in mind, this is a tenanted three-bedroom end-terrace property in Bishop Auckland, County Durham.

At an asking price of oiro £55,000, the property currently generates £550 pcm, equivalent to £6,600 per annum and a 12% gross yield based on the asking price.

Importantly for investors considering the property's future income potential, the existing rent is below the stated current market rental level.

The estimated market rent supplied for the property is £595 pcm.

This represents a potential rental uplift of £45 pcm / £540 per annum, or approximately 8.2% above the existing rent, subject to the tenancy, appropriate notice, prevailing market conditions and all applicable legal requirements.

At £595 pcm, annual rental income would be £7,140, representing a potential gross yield of approximately 13% against a £55,000 purchase price.

For an investor, the combination of a relatively low acquisition price, existing tenant, current double-digit gross yield and potential future rental uplift makes the property worthy of consideration as a buy-to-let acquisition.

Video walk-around and investor commentary A video tour and commentary is available, providing investors with an opportunity to see the property and hear further information about the investment.

Video tour and commentary Please note that any figures or headline information shown within the video should be considered alongside the current particulars and confirmed with the agent before making an investment decision.

Current rental position The property is being sold with a tenant in situ, with the current rent stated at: Current Rent: £550 pcm Current Annual Rent: £6,600 Current Gross Yield: 12% based on an oiro £55,000 purchase price For landlords seeking an income-producing acquisition, the existing tenancy means the property already has an established rental income rather than being marketed as a vacant property requiring a new tenant to be sourced immediately.

The stated estimated market rental level is: Estimated Market Rent: £595 pcm Potential Annual Rent: £7,140 Potential Gross Yield: Approximately 13% based on £55,000 Potential Rental Increase: £45 pcm / £540 per annum The £595 pcm figure is an estimated market rental level rather than the property's existing contractual rent and should not be interpreted as guaranteed future income.

Any future rental change would be subject to the tenancy, market conditions and the relevant legal process. Price and indicative valuation position The property is offered at oiro £55,000.

An online valuation using the OnTheMarket valuation tool has indicated an estimated value of £82,000.

Against the £55,000 asking price, this represents a difference of £27,000, equivalent to approximately 32.9% below that stated online valuation estimate.

Investors should note that an automated/online valuation is an estimate and is not the same as a formal RICS valuation, mortgage valuation or guarantee of the price achievable on resale.

Purchasers should undertake their own due diligence and valuation assessment. The property 1 Bell Street is a three-bedroom end-terrace property situated in Bishop Auckland, County Durham.

The property benefits from gas central heating and is offered on a freehold basis.

Its three-bedroom configuration provides accommodation within an established residential area, while the existing tenancy demonstrates that the property is already operating as a rental investment.

A recent inspection/property report is also available for investors wishing to examine the property's condition in greater detail.

Location Bell Street is situated in Bishop Auckland, with access to the town centre and a range of everyday facilities.

Local property listings for Bell Street identify the area as being close to amenities including supermarkets, shops and healthcare facilities, together with primary and secondary education provision.

Bishop Auckland also has established public transport connections. Bishop Auckland railway station is managed by Northern, with bus and taxi connections available at the station.

For road travel, Bishop Auckland can be accessed via the A688 and A689, with the A689 providing a route towards Junction 60 of the A1(M).

The town's combination of local amenities, education, road connections and public transport provides the practical infrastructure expected of an established residential rental location.

Investment numbers at A glance Asking Price: Oiro £55,000 Current Rent: £550 pcm Current Annual Rent: £6,600 Current Gross Yield: 12% Stated Estimated Market Rent: £595 pcm Potential Annual Rent: £7,140 Potential Gross Yield: Approximately 13% Potential Rental Uplift: £45 pcm / £540 per annum Percentage Rental Uplift: Approximately 8.2% Online Valuation Estimate: £82,000 Difference Between Asking Price and Online Estimate: £27,000 / approximately 32.9% Gross yields are calculated before finance costs, taxation, management charges, maintenance, insurance, licensing, void periods and other landlord costs.

Tenure and material information Tenure: Freehold Council Tax: Band A Heating: Gas central heating EPC: D (67) EPC Expiry: 15 January 2033 EPC Potential Rating: B (81) A Selective Licence is required for the property.

The supplied information states a Durham County Council licence fee of £550.

Investors should make their own enquiries regarding the current licensing position and requirements applicable at the point of purchase and/or commencement or continuation of a tenancy.

Gas Safety Certificate and eicr information should also be confirmed as part of the purchaser's legal and compliance due diligence.

Why landlords may wish to investigate further The principal investment considerations are straightforward. Existing rental income - the property is already tenanted at £550 pcm.

Double-digit current gross yield - £6,600 annual rent against a £55,000 asking price equates to a 12% gross yield.

Potential rental uplift - the stated estimated market rent is £595 pcm, £45 pcm above the existing rent.

Potential yield improvement - if £595 pcm were achieved in future, this would equate to approximately 13% gross yield against a £55,000 purchase price.

Low acquisition price - oiro £55,000 may make the property relevant to investors seeking to add another unit to an existing portfolio.

Indicative valuation differential - the supplied OnTheMarket online valuation estimate is £82,000 compared with the £55,000 asking price, although investors should independently verify value rather than relying upon an automated valuation.

Tenant already in situ - potentially attractive to landlords who would prefer to acquire an existing rental property rather than purchase vacant accommodation and begin the letting process from the outset.

Important information for investors The current rent is £550 pcm. The £595 pcm figure is an estimated market rent and is not guaranteed.

Likewise, the approximately 13% potential gross yield is illustrative and assumes rent of £595 pcm against a £55,000 purchase price.

It should not be confused with the property's current 12% gross yield.

The £82,000 valuation figure is based on the supplied OnTheMarket online valuation tool estimate and purchasers should undertake their own valuation and comparable-sales research.

A selective licence is required and purchasers should satisfy themselves regarding licensing, tenancy documentation, statutory compliance, property condition and all associated costs before proceeding.

Viewing and further information This property is being marketed particularly towards landlords and property investors seeking a tenanted buy-to-let acquisition with existing income and scope for potential rental uplift.

Interested investors are encouraged to review the video walk-around and commentary before arranging a viewing.

Further information regarding the tenancy, investment figures, property inspection and purchasing process is available from the agent.

Contact us to request the full investment information or to discuss arranging a viewing.