2 Bed Flat, Single Let, Sunderland, SR6 0AD, £130,000

Bonners Raff, Chandlers Road, Sunderland, Tyne and Wear, SR6 0AD - 2 views - 2 years ago

Leasehold
BTL
ROI: 6%
~94 m²
+6 photos

ValuationOvervalued

Sold Prices£35K - £240K
Sold Prices/m²£808/m² - £4.5K/m²

 

 

Square Metres

~93.60 m²
Price/m²£1.4K/m²

Value Estimate

£122,489

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£32,500

Stamp Duty & Legal Fees

£5,100

Total Cash In

£37,600

 

 

Cash Out

 

Rent Range

£650 - £1,240

Rent Estimate

£750

Running Costs/mo

£576

Cashflow/mo

£174

Cashflow/yr

£2,085

ROI

6%

Gross Yield

7%

Local Sold Prices

50 sold prices from £35K to £240K, average is £85.5K. £808/m² to £4.5K/m², average is £1.3K/m².

PriceDateDistanceAddressBeds 
£106K12/200 mi7 Bonners Raff, Chandlers Road, Sunderland, Tyne And Wear SR6 0AD2
£55K03/230.11 mi84, Howick Park, Sunderland, Tyne And Wear SR6 0DE2
£71K06/230.11 mi82, Howick Park, Sunderland, Tyne And Wear SR6 0DE2
£65K11/220.11 mi80, Howick Park, Sunderland, Tyne And Wear SR6 0DE2
£65K12/210.13 miApartment 6, Echo Building, West Wear Street, Sunderland, Tyne And Wear SR1 1XD2
£35K10/230.14 miApartment 11, Echo Building, West Wear Street, Sunderland, Tyne And Wear SR1 1XD2
£58.5K08/230.14 miApartment 92, Echo Building, West Wear Street, Sunderland, Tyne And Wear SR1 1XH2
£50K11/220.37 miApartment 19, Biscop House, Villiers Street, Sunderland, Tyne And Wear SR1 1ER2
£101K10/210.41 mi12, Foyle Street, Sunderland, Tyne And Wear SR1 1LB2
£101K10/210.42 mi12, Foyle Street, Sunderland, Tyne And Wear SR1 1LB2
£74K07/210.44 mi45, Hampden Road, Sunderland, Tyne And Wear SR6 9QH2
£125.3K02/240.5 mi22, Topcliff, Sunderland, Tyne And Wear SR6 0QD2
£125K08/220.5 mi35, Topcliff, Sunderland, Tyne And Wear SR6 0QD2
£77K06/230.59 mi102a, Gladstone Street, Sunderland, Tyne And Wear SR6 0JA2
£148.5K07/240.64 mi5, Beacon Drive, Sunderland, Tyne And Wear SR6 0RJ2
£149K08/230.64 mi10, Beacon Drive, Sunderland, Tyne And Wear SR6 0RJ2
£135K06/220.65 mi7, Beacon Drive, Sunderland, Tyne And Wear SR6 0RJ2
£147.5K08/220.66 mi15, Haven Court, Sunderland, Tyne And Wear SR6 0RL2
£100K02/230.71 mi24, Association Road, Sunderland, Tyne And Wear SR6 9QG2
£105K09/220.72 mi25, Association Road, Sunderland, Tyne And Wear SR6 9QG2
£97.5K03/210.72 mi35, Bromarsh Court, Sunderland, Tyne And Wear SR6 0RN2
£97.5K03/210.72 mi35, Bromarsh Court, Sunderland, Tyne And Wear SR6 0RN2
£240K10/220.72 mi16, Bromarsh Court, Sunderland, Tyne And Wear SR6 0RN2
£122K04/230.72 mi37, Bromarsh Court, Sunderland, Tyne And Wear SR6 0RN2
£151K01/230.72 mi36, Bromarsh Court, Sunderland, Tyne And Wear SR6 0RN2
£72K12/230.75 mi10, Sandringham Road, Sunderland, Tyne And Wear SR6 9QZ2
£82.5K01/210.75 mi26, Sandringham Road, Sunderland, Tyne And Wear SR6 9QZ2
£74K07/210.75 mi43, Hampden Road, Sunderland, Tyne And Wear SR6 9QH2
£101K09/220.76 mi16, Goalmouth Close, Sunderland, Tyne And Wear SR6 9TR2
£86K04/210.76 mi19, Goalmouth Close, Sunderland, Tyne And Wear SR6 9TR2
£56.7K01/210.77 miFlat C, 16, Argyle Square, Sunderland, Tyne And Wear SR2 7BS2
£72.5K02/210.77 miFlat 2, Louise House, Victoria Court, Sunderland, Tyne And Wear SR2 7JY2
£84K04/210.78 mi22, Turnstile Mews, Sunderland, Tyne And Wear SR6 9TP2
£75K08/230.78 miFlat 2, Edward House, Albert Court, Sunderland, Tyne And Wear SR2 7LQ2
£75K06/210.79 mi20, Park Place West, Sunderland, Tyne And Wear SR2 8HT2
£163.5K04/240.79 mi8, Wheatsheaf Court, Sunderland, Tyne And Wear SR6 0RF2
£71K12/200.79 miFlat 8, Edward House, Albert Court, Sunderland, Tyne And Wear SR2 7LQ2
£96.5K09/220.8 miFlat 9, Beatrice House, Albert Court, Sunderland, Tyne And Wear SR2 7LH2
£68K06/210.8 miFlat 22, Beatrice House, Albert Court, Sunderland, Tyne And Wear SR2 7LH2
£85K03/210.8 miFlat 8, Beatrice House, Albert Court, Sunderland, Tyne And Wear SR2 7LH2
£69K03/230.8 mi29, Sandringham Terrace, Sunderland, Tyne And Wear SR6 9RA2
£70K01/210.8 mi15, Sandringham Terrace, Sunderland, Tyne And Wear SR6 9RA2
£83K08/230.81 mi1, Westburn Terrace, Sunderland, Tyne And Wear SR6 9RB2
£185K02/210.82 mi2, St Bedes Terrace, Sunderland, Tyne And Wear SR2 8HS2
£75.5K11/200.82 mi17, Sandringham Terrace, Sunderland, Tyne And Wear SR6 9RA2
£60K02/210.82 miFlat 2, Helena House, Albert Court, Sunderland, Tyne And Wear SR2 7LL2
£89K03/230.82 miFlat 1, Helena House, Albert Court, Sunderland, Tyne And Wear SR2 7LL2
£115K10/230.82 mi12, Ashdale Court, Sunderland, Tyne And Wear SR6 9SZ2
£94K07/210.84 mi71, Bede Street, Sunderland, Tyne And Wear SR6 0NT2
£103K02/210.84 mi69, Bede Street, Sunderland, Tyne And Wear SR6 0NT2

Local Rents

49 rents from £650/mo to £1.2K/mo, average is £895/mo.

RentDateDistanceAddressBeds 
£80009/240 mi-2
£80009/240 miBonners Raff, Sunderland, SR62
£90008/240.04 mi-2
£90009/240.11 miBonners Raff, Chandlers Road, SUNDERLAND, SR62
£75009/240.13 miEcho Building, West Wear Street, Sunderland, SR12
£80009/240.13 miEcho Building, City Centre, Sunderland, SR12
£1,05001/250.13 mi-2
£95007/240.13 mi-2
£95007/240.13 mi-2
£1,10009/240.13 miEcho Building, West Wear Street, Sunderland, SR12
£80909/240.13 miWest Wear Street, Sunderland, SR12
£83009/240.13 miEcho Building, West Wear Street, Sunderland, SR12
£89509/240.13 miEcho Building, West Wear Street, Sunderland, SR12
£87509/240.13 miWest Wear Street, Sunderland2
£77509/240.13 miWest Wear Street, Sunderland2
£80009/240.13 miWest Wear Street, Sunderland2
£80009/240.13 miWest Wear Street, Sunderland2
£80009/240.13 miWest Wear Street, Sunderland2
£85009/240.13 miWest Wear Street, Sunderland2
£85009/240.14 miEcho Building, City Centre, SUNDERLAND, SR12
£85009/240.14 mi-2
£95009/240.15 miWest Wear Street, City Centre, Sunderland, Tyne and Wear, SR1 1XH2
£80009/240.15 miEcho Building, City Centre, Sunderkand, SR12
£89509/240.15 miEcho Building, West Wear Street, Sunderland, SR12
£80009/240.15 miEcho Building, Tyne & Wear, City Centre, Sunderland, SR12
£80009/240.15 miWest Wear Street, Sunderland, Tyne and Wear, SR12
£1,00009/240.21 miRiver Quarter, William Street, Sunderland, SR12
£97509/240.23 miJohn Street, City Centre, Sunderland, SR12
£97509/240.23 miJohn Street, City Centre, Sunderland, SR12
£97509/240.23 miJohn Street, City Centre, Sunderland, SR12
£85003/250.24 mi-2
£1,00009/240.28 miNorfolk Street Student Accommodation, City Centre, Sunderland, SR12
£75009/240.28 miNorfolk Street, Sunniside, Sunderland, SR12
£75009/240.28 miNorfolk Street, Sunniside, Sunderland, SR12
£97509/240.29 miJohn Street, Sunderland, SR12
£65009/240.3 miRiverview, City Centre, Sunderland South, SR1 2
£72509/240.3 miMaritime Building, Sunderland, St Thomas Street, St Thomas Street, SR12
£72509/240.3 miMaritime Building, Sunderland, Sunniside, City Centre, SR12
£1,04010/230.3 mi-2
£1,04009/240.3 mi-2
£1,13009/240.3 mi-2
£1,20009/240.3 mi-2
£1,10009/240.3 mi-2
£1,20009/240.3 mi-2
£1,11511/240.3 mi-2
£1,24003/250.3 mi-2
£1,11503/250.3 mi-2
£1,10009/240.3 miQuarterbank Apartments, Sunderland, SR12
£1,20009/240.3 miQuarterbank Apartments, Sunderland, SR12

Local Area Statistics

Population in SR6

30,268

Population in Sunderland

183,740

Town centre distance

1.60 miles away

Nearest school

0.40 miles away

Nearest train station

0.25 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

+29%

Sales demand

Seller's market

Capital growth (5yrs)

+19%

Property History

Listed for £130,000

May 17, 2023

Floor Plans

Description

  • Two Double Bedrooms +
  • Balcony & River Views +
  • Allocated Parking +
  • Open Plan Living +
  • Bathroom & WC +
  • Viewings Advised +
  • Currently Tenanted on a Periodic Basis +
  • Current Rental Income £900 PCM +

THIRD FLOOR, WATERSIDE APARTMENT WITH COVERED PARKING This property offers spacious accommodation set over two floors to include; Open plan living/dining area with balcony overlooking the River Wear, cloakroom/WC and kitchen area to the lower level. The upper level is accessed by a spiral staircase and offers; Two double bedrooms and bathroom. Currently tenanted until October 2023 with a rental income of £900 pcm. Energy Efficiency Rating C. Council Tax Band D.

Entrance

Open Plan Living/Dining Area 7.60m > 5.3m x 6.19m > 3.45m (Measurements include Kitchen Area)
Spiral staircase to upper floor, double glazed doors to balcony, three double glazed windows, two radiators, feature pillar, thermostat control, telephone entry system.

Kitchen Area- Range of wall and base units with roll edge worktop surfaces incorporating stainless steel circular sink unit with mixer tap, tiled splashbacks, electric oven and hob with extractor above, fridge and freezer, washing machine.

Cloakroom/WC 2.15m > 0.93 x 2.14m > 1.31m
WC, pedestal wash basin, tiled splashbacks, towel rail radiator, cupboard housing boiler.

Landing- Radiator.

Bathroom 2.94m max x 1.53m max
Panel bath with shower above, pedestal wash basin, WC, tiled splashbacks, towel rail radiator, extractor fan, electric shaver point, ceiling spotlights.

Bedroom One 3.40m > 2.49m x 5.02m max
Double glazed door to Juliet balcony, radiator, telephone point.

Bedroom Two 3.57m x 2.56m
Double glazed window, radiator.

Leasehold Information- We have been advised at the outset of marketing the property is Leasehold with an approximate service charge of £2038.79 pa. The ground rent is £200 pa until 31/12/52 and doubles every 25 years thereafter. The lease term is 125 years from 2003. Please note we have not inspected the head lease. There is an EWS1 in place for the building.

Material Information
Tenure: Leasehold.
The block is managed by Home Management Group.
Council Tax: Band D. Authority; Newcastle City Council For current rates please visit;
Utilities: Mains sewerage, water and electricity are connected. Please note there is no gas supply to the property.
Broadband: Follow the link to check broadband providers and speeds;
Mobile Phone Coverage: Follow the link to check mobile signal for all networks;
Parking: There is an allocated parking bay with the property.

You would need to instruct your solicitor to review the lease for any restrictive covenants, we have not been advised of any at the outset of marketing. Please note the lease can be made available upon request.

Agent Details

Living Spaces, Newcastle Upon Tyne

0191 625 0268

Next Steps?

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