Gordon Avenue, Peterlee, SR8

Charming Two-Bedroom Mid-Terrace Home with Loft Conversion in Horden

Discover this delightful two-bedroom mid-terrace house located at Gordon Avenue, Horden, Peterlee SR8 4QN. This property, currently tenanted, offers a great investment opportunity or a welcoming home in a community-oriented village known for its historical charm and modern conveniences.

Property Features:

• Two Bedrooms: Spacious and welcoming, each bedroom provides ample space for personalization.
• Loft Conversion: An additional loft room adds valuable extra space, perfect for a home office, playroom, or guest room.
• Comfortable Living Room: An inviting space with enough room for both dining and leisure activities, ideal for family gatherings.
• Functional Kitchen: Equipped with modern amenities and plenty of storage, designed for practical and efficient use.
• Well-Maintained Bathroom: Features all necessary installations for convenience and comfort.
• Outdoor Areas: A quaint front courtyard and a private rear garden, perfect for outdoor relaxation and entertaining.

Local Area and Amenities:

Horden, part of Peterlee in County Durham, is a village rich in mining history and known for its strong community spirit. The area offers various local amenities including shops, pubs, and community centers. Nearby, residents can enjoy beautiful beaches and countryside, ideal for outdoor activities.

• Schools: The area is served by several schools, such as Seascape Primary School, Dene Academy, and East Durham College, providing education for all age groups.
• Transport Links: Horden is well-connected via the Horden Railway Station on the Durham Coast Line, providing excellent links to nearby cities. Additionally, local bus services and easy access to major roads ensure convenient travel.
• Local Services: Various dining options, from cafes to takeaways, and pubs like The Legion and Horden Catholic Club, ensure a vibrant local community.

Investment Potential:

This property is currently occupied with a tenant, promising immediate rental income. The tenancy terms include a rent of £475 per calendar month, and the tenant has been in place for over a year.

Rental Yield:

To calculate the rental yield:

• Annual Rent = £475 * 12 = £5,700
• Purchase Price = £90,000
• Yield = (Annual Rent / Purchase Price) * 100 = (£5,700 / £90,000) * 100 = 6.33%

This makes it an appealing option for investors seeking a steady return, with a yield of approximately 6.33%. Comparable properties in the area have shown consistent appreciation, with recent sales indicating a strong market presence?.

Energy Efficiency:

The property has an EPC rating of E, ensuring moderate energy efficiency.