This spacious two bedroomed house is located in Shildon, just a short distance from Bishop Auckland. The house was recently updated before the existing tenants moved into the property two months ago. There are two large bedrooms, a huge kitchen diner, updated bathroom and a large enclosed rear yard. This property is managed by a great local management company.
This house is approx. 2.5miles from Tindale’s retail park and Bishop Auckland’s town centre which allow for access to further facilities such as supermarkets, secondary schools, popular high street retail stores and healthcare services. The A688 and A689 are nearby and lead to the A1(M) both North and South ideal for commuters.
Purchase price: 49,950
Gross annual rental income: £4,200
Property running costs: £1,971
(Tax, insurance and management costs)
Net annual rental income: £2,229
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 8%
Break even in 12.5 Years