2 Bed Terraced House, Cash/Bridging Only, Whitley Bay, NE26 4DN, £135,000

Clarence Street, Seaton Sluice, Whitley Bay, NE26 4DN - 2 years ago

Sold STC
Cash
ROI: 1%
~89 m²
+8 photos

ValuationFair Value

Sold Prices£93K - £357K
Sold Prices/m²£1.2K/m² - £4.5K/m²

 

 

Square Metres

~89.20 m²
Price/m²£1.5K/m²

Value Estimate

£135,000

 

 

End Value (After Refurb)

£181,512

Uplift in Value

+34%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£33,750

Stamp Duty & Legal Fees

£5,250

Refurb Costs

£34,265

Bridging Loan Interest

£3,544

Total Cash In

£78,559

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£181,512

Mortgage (After Refinance)

£136,134

Mortgage LTV

75%

Cash Released

£34,884

Cash Left In

£43,675

Equity

£45,378

Rent Range

£350 - £4,000

Rent Estimate

£802

Running Costs/mo

£748

Cashflow/mo

£54

Cashflow/yr

£653

ROI

1%

Gross Yield

7%

Local Sold Prices

25 sold prices from £93K to £357K, average is £196K. £1.2K/m² to £4.5K/m², average is £2.2K/m².

PriceDateDistanceAddressBeds 
£93K04/210 mi33, Clarence Street, Seaton Sluice, Whitley Bay, Northumberland NE26 4DN2
£155K02/230.13 mi24, Beresford Road, Seaton Sluice, Whitley Bay, Northumberland NE26 4RQ2
£160K03/230.14 mi3, Millfield, Seaton Sluice, Whitley Bay, Northumberland NE26 4DD2
£160K08/230.15 mi7, Millfield, Seaton Sluice, Whitley Bay, Northumberland NE26 4DD2
£181.5K04/210.19 mi10, Budworth Avenue, Seaton Sluice, Whitley Bay, Northumberland NE26 4DB2
£220K10/230.19 mi10, Budworth Avenue, Seaton Sluice, Whitley Bay, Northumberland NE26 4DB2
£245K01/240.22 mi8, Dereham Close, Seaton Sluice, Whitley Bay, Northumberland NE26 4BT2
£242K02/240.22 mi12, Dereham Close, Seaton Sluice, Whitley Bay, Northumberland NE26 4BT2
£190K07/210.25 mi22, Malvern Road, Seaton Sluice, Whitley Bay, Northumberland NE26 4BZ2
£111K11/200.35 mi47, Hartley Square, Seaton Sluice, Whitley Bay, Northumberland NE26 4BJ2
£115K05/210.35 mi75, Hartley Square, Seaton Sluice, Whitley Bay, Northumberland NE26 4BJ2
£196K02/240.38 mi19, Cresswell Avenue, Seaton Sluice, Whitley Bay, Northumberland NE26 4HH2
£120K11/200.39 mi33, Hartley Square, Seaton Sluice, Whitley Bay, Northumberland NE26 4BH2
£115K02/210.39 mi5, Hartley Square, Seaton Sluice, Whitley Bay, Northumberland NE26 4BH2
£200K06/210.4 mi10, Simonside, Seaton Sluice, Whitley Bay, Northumberland NE26 4BN2
£265K09/230.41 mi2, The Links, Seaton Sluice, Whitley Bay, Northumberland NE26 4HQ2
£357K07/240.43 mi4, Parkfield, Seaton Sluice, Whitley Bay, Northumberland NE26 4HS2
£355K05/230.45 mi13, Easedale, Seaton Sluice, Whitley Bay, Northumberland NE26 4HR2
£247.5K12/220.5 mi7, Fountain Head Bank, Seaton Sluice, Whitley Bay, Northumberland NE26 4HT2
£190K06/210.61 mi24, Astley Gardens, Seaton Sluice, Whitley Bay, Northumberland NE26 4JJ2
£250K12/200.7 mi72, Astley Gardens, Seaton Sluice, Whitley Bay, Northumberland NE26 4JN2
£235K09/230.72 mi37, St Ronans Drive, Seaton Sluice, Whitley Bay, Northumberland NE26 4HZ2
£285K12/220.74 mi2, Franklyn Avenue, Seaton Sluice, Whitley Bay, Northumberland NE26 4JB2
£185K03/210.78 mi6, Denway Grove, Seaton Sluice, Whitley Bay, Northumberland NE26 4JD2
£228K12/200.79 mi2, Benfield Grove, Seaton Sluice, Whitley Bay, Northumberland NE26 4JP2

Local Rents

50 rents from £350/mo to £4K/mo, average is £700/mo.

RentDateDistanceAddressBeds 
£52502/240.01 mi-2
£77506/240.13 miBeresford Road, Seaton Sluice2
£60007/230.15 mi-1
£72505/240.35 miHartley Square, Seaton Sluice, Whitley Bay2
£70008/241.8 miLaurel Terrace, Holywell, Whitley Bay2
£92507/241.84 miWhitley Terrace, Holywell3
£90007/241.85 miWallridge Drive, Holywell3
£95006/241.85 miWallridge Drive, Holywell3
£65002/241.86 mi-1
£89508/241.88 miHartburn Terrace, Seaton Delaval, Whitley Bay3
£89507/241.88 miHartburn Terrace, Seaton Delaval, Whitley Bay, Northumberland, NE253
£85006/241.89 miBristol Walk, New Hartley, Whitley Bay, Northumberland, NE25 0SU3
£69506/241.95 mi-2
£50005/231.96 mi-3
£50007/231.96 mi-3
£85010/241.98 mi-3
£75008/242 miPark View, Seaton Delaval, Whitley Bay2
£99507/242 miDenham Drive, Seaton Delaval, Whitley Bay, NE253
£99507/242 mi-3
£62506/242.04 miQueens Court, Seaton Delaval, Whitley Bay, Northumberland, NE25 0BR2
£47501/252.05 mi-1
£42508/242.06 miKearsley Close, Seaton Delaval, Whitley Bay, Tyne And Wear, NE251
£35005/242.08 miElsdon Avenue, Whitley Bay2
£62507/242.11 miHartley Street, Seaton Delaval, Whitley Bay, NE252
£62507/242.11 mi-2
£62507/242.11 mi-2
£65012/232.14 mi-3
£49511/242.16 mi-1
£80003/252.16 mi-2
£47507/232.18 mi-2
£52510/242.18 mi-2
£95012/242.23 miAstley Road, Seaton Delaval, NE253
£45010/242.24 mi-1
£2,00012/242.26 mi-4
£4,00005/242.29 miAshfield Grove, Whitley Bay7
£59506/242.3 miUltor Court, Blyth2
£69507/242.31 mi-2
£67503/252.31 mi-2
£69506/242.31 miTaku Court, Blyth, NE242
£75006/242.31 miNewburgh Avenue, Seaton Delaval, Whitley Bay2
£72506/242.37 miEider Close, Blyth2
£59507/242.39 miRotha Court, Blyth2
£81506/242.42 miBirkdale, Whitley Bay2
£70005/242.43 miBirkdale, Whitley Bay2
£95003/252.43 mi-3
£95003/252.43 mi-3
£75005/242.44 miShearwater Way, Blyth2
£70007/242.45 miBirkdale, Whitley Bay2
£90006/232.45 mi-2
£75010/242.49 mi-1

Local Area Statistics

Population in NE26

19,169

Population in Whitley Bay

49,103

Town centre distance

2.18 miles away

Nearest school

0.20 miles away

Nearest train station

2.71 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+16%

Sales demand

Balanced market

Capital growth (5yrs)

+29%

Property History

Listed for £135,000

July 6, 2023

Floor Plans

Description

  • Accommodation Spread Over Three Floors +
  • Available with No Onward Chain +
  • Close to Sea Front +
  • Double Glazing +
  • Gas Central Heating +
  • Masses of Potential +
  • Picturesque Coastal Town +
  • Sunny South Westerly Rear +

Jan Mitchell Properties are delighted to offer for sale this three bedroom mid terraced property with accommodation spread over three floors that offers masses of potential located on the ever popular Clarence Street, in the picturesque coastal village of Seaton Sluice offered with no onward chain.

Internally whilst the top two floors have been renovated the ground floor leaves the opportunity for a buyer to make their own, briefly comprising:- Entrance vestibule, lounge, dining room with store/meter cupboard beneath the stairs and patio door opening out onto the sunny rear yard making it a perfect space for entertaining as well as a galley kitchen which does require refurbishment.

To the first floor off the landing there are two bedrooms, once of which benefitting from inbuilt wardrobe space and a three piece shower room. Then to the second floor is a generous further bedroom with feature windows and exposed beams.

Externally there is a sunny South Westerly facing rear yard with outbuilding and external w/c which require attention to their structure.

Overall a great terrace in a superb location that benefits from a modern combination boiler and heating system, recent rewire and double glazing.

Location
The location benefits from easy access to a wealth of local amenities including well regarded schools, supermarkets and and array of independent boutique shops, eateries and bars as well as beautiful award winning beaches that Seaton Sluice and Whitley Bay have to offer.

Measurements
Living Room - 4.28m x 3.64m
Dining Room - 3.26m x 4.31m
Kitchen - 4.61m x 1.56m
Bedroom One (Top Floor) - 4.24m x 5.29m
Bedroom Two - 3.89m x 3.18m
Bedroom Three - 1.93m x 2.20m
Shower Room - 1.65m x 1.71m

IMPORTANT NOTE TO PURCHASERS
We endeavour to make our property details accurate, however, they do not constitute or form part of an offer or any contract and are not to relied upon as statements of representation or fact. Any services, systems and appliances listed in the details have not been tested by us and no guarantee is given to their operating ability or efficiency. All the measurements and floor plans have been taken as a guide to prospective purchasers and are not to be relied upon. Please be advised that some of the information may be awaiting vendor approval. If you require clarification of further information on any points please contact us direct.

MAKING AN OFFER Please note that all offers will require financial verification including mortgage agreement in principle, proof of deposit funds, proof of available cash and full chain details including selling agents and solicitors down the chain. Under New Money Laundering Regulations we require proof of identification from all buyers before acceptance letters are sent and solicitors can be instructed.

Tenure - We are not able to verify the tenure of the property as it is not always possible to see sight of the relevant documentation prior to marketing. Prospective purchasers must make further enquiries with their legal adviser

Council Tax Band: A (Northumberland)
Tenure: Freehold

Agent Details

Jan Mitchell Properties, Covering North East

0191 625 1034

Next Steps?

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