Summary - 10 RICHARD STREET SKELTON IN CLEVELAND SALTBURN-BY-THE-SEA TS12 2AS
3 bed 2 bath Terraced
Low-entry buy-to-let with stable tenants and clear upgrade potential.
- Freehold mid-terrace with three bedrooms and two bathrooms
- Long-term tenants in situ, producing £4,800 pa gross
- Asking price £58,000 — approx. 8.3% gross yield
- Requires modernisation throughout; refurbishment opportunity
- Small private rear garden; street parking only
- Area classified as deprived with above-average crime
- Fast broadband and excellent mobile signal
- Buyers Premium applies on sale
Set in Saltburn-by-the-Sea, this freehold three-bedroom mid-terrace offers straightforward investment potential at a low entry price. The property comes with long-term tenants in situ, producing a current gross income of £4,800 a year — roughly an 8.3% gross yield at the asking price of £58,000. Basic layout includes lounge, kitchen, two bathrooms and a small private rear garden; double-glazed windows and standard ceiling heights are noted.
The house needs updating and modernisation throughout, which creates scope for capital improvement or repositioning to higher market rents. Street parking only and a small rear plot limit curb appeal and outside space, but the compact size keeps maintenance and refurbishment costs contained. Broadband speeds are fast and mobile signal is excellent, supporting lettability.
Location strengths include proximity to local amenities, schools and transport links in a small-town setting. Material negatives to consider: the area is classified as deprived with above-average crime statistics, and the property is likely to attract investor and developer interest rather than traditional owner-occupiers. Tenants currently state they intend to remain; the sale will include a Buyers Premium to secure purchase.
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