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See how verdicts work2-bedroom flat · DL12 8LX
Listing removedListed 230 days
Opportunity summary
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About
Investment Consideration: Gross Initial Yield: 9.20% Rental Income: £5,520 p.a. Under rented. ERV: £7,000 p.a.
VAT is NOT applicable to this property Comprises self-contained 2-bedroom flat situated at first floor Newly replaced roof and refurbished communal areas (£40,000) Town centre location with occupiers nearby including Morrisons, Costa Coffee, Specsavers, Co-Op Food, Boots, Hays Travel and more.
Property Description: Comprises self-contained 2-bedroom flat at first floor, accessed from the rear via communal alleyway from the main street.
The property provides the following accommodation and dimensions: First Floor Flat 4 - 73 sq m (786 sq ft) 2 Bedrooms, Kitchen, Living Room, Bathroom Tenancy: Flat 4 is at present let on AST to an Individual for a term of 6 Months from 10th October 2022 (holding over) at a current rent of £5,520 p.a.
Deposit held of £460. Tenure: Long Leasehold. To be held on a 999 Year lease from completion at a ground rent of peppercorn.
Location: Barnard Castle is located just north of the A66, approximately 16 miles West of Darlington and draws on an extensive, wealthy hinterland.
The popular Market Town is situated in North Yorkshire with an affluent residential population.
The property occupies a prominent location in Horsemarket opposite Costa Coffee and Boyes Department Store and close to Coop, Heron Foods, Holland & Barrett, Boots, and more.
Value & comps
No previous sales on record.
Returns
Set an offer; the calculator follows it.
We're still gathering serviced-accommodation data for this area.
Archie refurb estimate: a Pro feature
0.0% below asking
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Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
Area
Agent & docs
FAQ
About Flat 4, 23 Horsemarket, Barnard Castle, County Durham, DL12
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