Cromer Street

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.