2 Bedroom Semi Detached House, Crowther Place, Kirk Merrington, DL16

Two Bedroom Semi Detached Home | Tenant in Situ | Strong Yield Investment

Occupying a prominent corner position within the heart of the sought after village of Kirk Merrington, this two bedroom semi detached house presents an excellent opportunity for investors seeking a ready made buy to let with income secured from day one.

The property combines practical accommodation with character features, having recently been fully refurbished throughout with new carpets, kitchen, bathroom and more, making it an attractive proposition for both seasoned and first time landlords.

Key Features

• Tenant in situ

• Strong rental yield of 7.56%

• Desirable village location

• Corner plot position

• Recently fully refurbished

• UPVC double glazing and gas central heating

• Cast iron fire surround to the lounge

• EPC Rating C

Property Description

This well proportioned home enjoys a distinctive corner plot, enhancing both privacy and kerb appeal within the street. Bay windows to the front elevation add character and allow generous natural light to flow through the property.

Internally, the accommodation briefly comprises an entrance hall with staircase to the first floor, leading to a spacious reception room featuring a bay window and a cast iron feature fire surround, creating a warm and welcoming focal point. The kitchen breakfast room offers a practical layout with good natural light and further potential to modernise or reconfigure subject to requirements.

To the first floor are two well proportioned bedrooms, both benefiting from excellent light levels, alongside a bathroom fitted with a bath and overhead shower. The layout is straightforward and functional, appealing to long term tenants and offering flexibility for future upgrades.

To the rear of the property is a yard, providing useful outdoor space.

The neutral decor and practical layout make this a versatile home, while the corner position offers an enhanced sense of openness rarely found in comparable village stock.

Investment Summary

• Current Rent: £630 per calendar month

• Annual Rental Income: £7,560

• Sale Price: £100,000

Gross Yield:
£7,560 ÷ £100,000 = 7.56%

This represents a strong yield for a village based investment property, particularly when combined with an EPC rating of D, tenant in situ, and further potential to improve rental performance over time.

Tenancy Information

• Tenancy start date: 06 June 2024

• Rent: £630 pcm

• Deposit protected with DPS

Location

The property is situated in the heart of Kirk Merrington, a highly regarded village community located just over a mile from Spennymoor town centre.

The location is well placed for commuting to Durham, Darlington, and Teesside, with the A1 and A19 providing excellent regional road links.

Additional Information

Any interested parties must submit any higher offers in writing to the selling agent prior to exchange of contracts.

EPC Rating C

Summary

A fantastic investment opportunity offering:

• Tenant in situ

• 7.56% gross yield at £100,000

• Desirable village location

• Scope for refurbishment and value uplift

• Practical, lettable layout with strong long term demand