2 Bed Flat, Cash/Bridging Only, South Shields, NE33 3PQ, £59,950

102 East Stainton Street, South Shields, Tyne And Wear, NE33 3PQ - 5 views - 2 years ago

Leasehold
Cash
ROI: 8%
65 m²
+2 photos

ValuationFair Value

Sold Prices£40K - £152K
Sold Prices/m²£635/m² - £1.9K/m²

 

 

Square Metres

65 m²
Price/m²£922/m²

Value Estimate

£61,149

 

 

End Value (After Refurb)

£80,786

Uplift in Value

+35%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£14,988

Stamp Duty & Legal Fees

£2,999

Refurb Costs

£24,812

Bridging Loan Interest

£1,574

Total Cash In

£46,122

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£80,786

Mortgage (After Refinance)

£60,589

Mortgage LTV

75%

Cash Released

£15,627

Cash Left In

£30,495

Equity

£20,196

Rent Range

£475 - £1,900

Rent Estimate

£717

Running Costs/mo

£416

Cashflow/mo

£301

Cashflow/yr

£3,614

ROI

8%

Gross Yield

14%

Local Sold Prices

50 sold prices from £40K to £152K, average is £79K. £635/m² to £1.9K/m², average is £1.1K/m².

PriceDateDistanceAddressBeds 
£49K03/210.03 mi96, Imeary Street, South Shields, Tyne And Wear NE33 4EQ2
£65K12/230.03 mi44, East Moffett Street, South Shields, Tyne And Wear NE33 3PL2
£61K05/240.1 mi8a, St Michaels Avenue North, South Shields, Tyne And Wear NE33 3AL2
£95K10/210.16 mi19a, Osborne Avenue, South Shields, Tyne And Wear NE33 3DQ2
£62.3K05/210.17 mi24, Ingham Grange, South Shields, Tyne And Wear NE33 3JJ2
£125K02/240.17 mi34, Ingham Grange, South Shields, Tyne And Wear NE33 3JJ2
£76K08/230.18 mi5, Rosa Street, South Shields, Tyne And Wear NE33 3LN2
£65K09/210.18 mi28, St Vincent Street, South Shields, Tyne And Wear NE33 3AR2
£80K07/230.18 mi22, St Vincent Street, South Shields, Tyne And Wear NE33 3AR2
£75K10/200.18 mi29, St Vincent Street, South Shields, Tyne And Wear NE33 3AR2
£87K12/200.18 mi62, St Vincent Street, South Shields, Tyne And Wear NE33 3AR2
£74K05/230.18 mi42, St Vincent Street, South Shields, Tyne And Wear NE33 3AR2
£79K04/210.2 mi7, Readhead Avenue, South Shields, Tyne And Wear NE33 3AW2
£85K09/210.21 mi15, Coleridge Avenue, South Shields, Tyne And Wear NE33 3EZ2
£75.5K07/210.21 mi9, Coleridge Avenue, South Shields, Tyne And Wear NE33 3EZ2
£85K10/230.21 mi24, Coleridge Avenue, South Shields, Tyne And Wear NE33 3EZ2
£83K06/230.22 mi16, Frost Mews, South Shields, Tyne And Wear NE33 4AL2
£120K01/230.23 mi33, Ingham Grange, South Shields, Tyne And Wear NE33 3JJ2
£48K05/210.25 mi91, Northcote Street, South Shields, Tyne And Wear NE33 4DJ2
£85K05/210.25 mi123, St Vincent Street, South Shields, Tyne And Wear NE33 3AS2
£57K03/210.25 mi82, St Vincent Street, South Shields, Tyne And Wear NE33 3AS2
£86.5K07/210.25 mi130, St Vincent Street, South Shields, Tyne And Wear NE33 3AS2
£133K09/230.25 mi72, Mowbray Road, South Shields, Tyne And Wear NE33 3AX2
£79K08/230.25 mi79, Mowbray Road, South Shields, Tyne And Wear NE33 3DD2
£88K03/230.28 mi47, Coleridge Avenue, South Shields, Tyne And Wear NE33 3HA2
£78K10/230.28 mi3, Lord Street, South Shields, Tyne And Wear NE33 3DB2
£70K06/230.28 mi12, Lord Street, South Shields, Tyne And Wear NE33 3DB2
£40K11/200.28 mi31, Bedford Avenue, South Shields, Tyne And Wear NE33 4QJ2
£55K01/210.28 mi26, Northcote Street, South Shields, Tyne And Wear NE33 4BY2
£84K04/210.29 mi111, Osborne Avenue, South Shields, Tyne And Wear NE33 3BX2
£80K12/220.29 mi138a, St Vincent Street, South Shields, Tyne And Wear NE33 3BH2
£68K06/210.3 mi56, Leighton Street, South Shields, Tyne And Wear NE33 3BU2
£106K03/210.32 mi83, Mowbray Road, South Shields, Tyne And Wear NE33 3BA2
£97K05/230.33 mi54, Hartington Terrace, South Shields, Tyne And Wear NE33 4DE2
£80.5K01/230.33 mi83, Canterbury Street, South Shields, Tyne And Wear NE33 4DD2
£80K11/210.35 mi197, St Vincent Street, South Shields, Tyne And Wear NE33 3BJ2
£67K02/210.36 mi151, St Vincent Street, South Shields, Tyne And Wear NE33 3BJ2
£65K12/200.36 mi243, St Vincent Street, South Shields, Tyne And Wear NE33 3BJ2
£58.5K07/230.36 mi117, Marlborough Street South, South Shields, Tyne And Wear NE33 4DB2
£56K12/220.36 mi2, Oxford Avenue, South Shields, Tyne And Wear NE33 4TW2
£152K03/210.36 mi6, Kensington Court, South Shields, Tyne And Wear NE33 3DT2
£119K04/210.37 mi30, Lyndhurst Street, South Shields, Tyne And Wear NE33 2TA2
£61K05/210.38 mi203, Osborne Avenue, South Shields, Tyne And Wear NE33 3BY2
£120K02/230.39 mi143, Mowbray Road, South Shields, Tyne And Wear NE33 3BB2
£73K11/210.42 mi41, Oxford Street, South Shields, Tyne And Wear NE33 4BH2
£95K11/210.42 mi50, Oxford Street, South Shields, Tyne And Wear NE33 4BH2
£100K08/230.42 mi16, Hutton Row, South Shields, Tyne And Wear NE33 3NU2
£72.5K08/210.43 mi14, Eccleston Road, South Shields, Tyne And Wear NE33 3BS2
£70K02/210.45 mi107, Mortimer Road, South Shields, Tyne And Wear NE33 4UH2
£110K09/210.46 mi84, Hepscott Terrace, South Shields, Tyne And Wear NE33 4TJ2

Local Rents

50 rents from £475/mo to £1.9K/mo, average is £600/mo.

RentDateDistanceAddressBeds 
£67505/240.03 mi96 Imeary Street, South Shields2
£64506/240.03 miImeary Street, South Shields, Tyne and Wear, NE332
£69505/240.05 mi-2
£59506/240.05 mi-2
£59502/250.05 mi-2
£63006/240.08 mi-2
£55001/250.12 mi-2
£69502/240.14 mi-2
£85005/240.15 mi-2
£52005/240.19 mi-2
£77507/240.21 miIngham House, South Shields2
£49506/240.21 miColeridge Avenue, South Shields2
£1,90006/240.21 mi-2
£1,90007/240.21 mi-2
£75003/250.22 mi-2
£60004/250.26 mi-2
£47507/240.26 mi93 St Vincent Street South Shields NE33 3AS2
£69505/240.26 miSpohr Terrace, South Shields2
£62504/250.27 mi-2
£52501/250.27 mi-2
£60006/240.3 mi-2
£60004/250.3 mi-2
£60004/250.3 mi-2
£60005/240.31 mi-2
£60005/240.31 mi-2
£57505/240.32 mi-2
£55003/250.32 mi-2
£60012/240.33 miRekendyke Mews, South Shields2
£57506/240.33 mi-2
£65004/250.35 mi-2
£69507/240.37 miOxford Avenue, South Shields2
£69505/240.38 miErskine Road, South Shields2
£70004/250.4 mi-2
£70005/240.43 mi-2
£70007/240.43 mi-2
£65002/240.43 mi-2
£57506/240.44 mi-2
£57506/240.44 mi-2
£55003/250.45 mi-2
£60012/240.45 miBroughton Road, South Shields, NE332
£60012/240.45 mi-2
£84505/240.46 miBeach Road, Town Centre , South Shields, Tyne and Wear, NE33 2SA2
£79502/250.47 mi-2
£70004/250.48 mi-2
£57503/240.49 mi-2
£52002/240.49 mi-2
£55007/240.49 mi-2
£55004/250.49 mi-2
£55006/240.5 miCollingwood Street, South Shields, NE332
£55007/240.5 miCollingwood Street, South Shields, NE332

Local Area Statistics

Population in NE33

27,262

Population in South Shields

79,432

Town centre distance

0.54 miles away

Nearest school

0.30 miles away

Nearest train station

0.21 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+19%

Sales demand

Seller's market

Capital growth (5yrs)

+8%

Property History

Price changed to £59,950

September 25, 2024

Listed for £65,000

July 19, 2023

Sold for £62,000

2013

Sold for £83,750

2007

Sold for £28,950

2001

Floor Plans

Description

  • Ground Floor Flat +
  • Two Bedrooms +
  • Perfect Investment +
  • Great Location +
  • Private Yard +
  • EPC Rating D +

Chase Holmes bring to the market this GROUND FLOOR FLAT, close to local shops, bus routes and Chichester Metro. On entering the property is an entrance hallway, two GOOD SIZE bedrooms, SPACIOUS lounge, kitchen and bathroom. Externally lies a PRIVATE YARD to the rear. This will make the PERFECT INVESTMENT! Cash buyers only due to low lease. Call today to secure your appointment to view!

Entrance Via UPVC double glazed door.

Vestibule With coving to ceiling and dado rail.

Hallway With dado rail.

Master Bedroom 12' 7'' x 13' 9'' (3.83m x 4.18m) With UPVC double glazed bay window, coving to ceiling, ceiling rose, radiator and electric wall fire with marble hearth, back and surround.

Bedroom Two 10' 4'' x 7' 0'' (3.16m x 2.13m) With UPVC double glazed window and radiator.

Lounge 12' 3'' x 13' 9'' (3.73m x 4.18m) With UPVC double glazed window, coving to ceiling, ceiling rose, two wall lights and feature fireplace.

Kitchen 15' 4'' x 6' 8'' (4.67m x 2.04m) Range of wall and floor units with contrasting work surfaces, gas hob, electric oven, extractor hood, stainless steel sink with mixer tap and drainer, plumbing for washing machine, splash back tiles, coving to ceiling, luxury vinyl flooring, UPVC double glazed window and UPVC double glazed door to rear.

Bathroom 5' 6'' x 7' 11'' (1.67m x 2.42m) White three piece suite with panelled bath with mixer tap, pedestal hand wash basin, low level WC, tiled floor, splash back tiles, plastic cladding to ceiling, UPVC double glazed window and radiator.

Front External Forecourt garden to front.

Rear External With private yard to rear.

Agent Details

Chase Holmes, South Shields

0191 625 0156

Next Steps?

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