£70,000
2 bed terraced house for saleCromer Street, Middlesbrough TS4
2 beds
1 bath
1 reception
Century Three LTD
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About this property
High-Yield Conversion Project | TS4 Longlands | 17% Yield Potential
Purchase Price: £70,000
Estimated Refurb: £7,000 | gdv: £110,000
Looking for a money maker with a low entry point? This 2 bedroom terrace on Cromer Street (TS4) is a strategic investment opportunity in a prime rental pocket. Situated on a quiet, no through road, this property is perfectly positioned to capture the high demand from Teesside University students and local professionals.
The Strategy: 3 Bedroom Conversion
This property is a classic candidate for value-add reconfiguration. With a modest £7,000 refurbishment, you can easily convert the existing 2 bedroom layout into a 3 bedroom shared accommodation:
High-Demand Layout: 3 individual rooms at an estimated £450 pcm per room (including bills).
Net Cash Flow: After accounting for utilities and costs, you can expect a minimum net of £1,100 pcm.
Unbeatable Yield: Potential for a 17% Gross Yield, significantly outperforming standard buy-to-lets.
Investment Profile
Instant Equity: Purchase for £70k with an estimated Gross Development Value (gdv) of £110k once the conversion and refurbishment are complete.
Low Entry Level: A rare chance to secure a freehold asset in a growth area for under £100k.
Vacant Possession: No tenants to wait for-start your refurb on Day 1.
Location & Amenities
Cromer Street offers a best of both worlds location, a quiet residential retreat just minutes from the action:
University Hub: Within easy walking distance of the Teesside University campus.
City Access: Minutes from Middlesbrough Town Centre and its retail/leisure offerings.
Green Space: Close to the historic Albert Park for leisure and exercise.
Convenience: Immediate access to the local amenities of the Longlands area.
Investor Note: Cromer Street is a hidden gem for HMO conversions. The quiet, dead-end nature of the street makes it highly desirable for tenants, while the proximity to the university ensures consistent year on year occupancy.
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