2 Bed Flat, Single Let, Newcastle upon Tyne, NE15 8XB, £59,950

75 Combe Drive, Newcastle Upon Tyne, Tyne And Wear, NE15 8XB - a year ago

Sold STC
Leasehold
BTL
ROI: 12%
~55 m²
+2 photos

ValuationUndervalued











Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£14,988

Stamp Duty & Legal Fees

£2,999

Total Cash In

£17,986

 

 

Cash Out

 

Rent Range

£575 - £2,000

Rent Estimate

£475

Running Costs/mo

£302

Cashflow/mo

£173

Cashflow/yr

£2,072

ROI

12%

Gross Yield

10%













Local Rents

37 rents from £575/mo to £2K/mo, average is £775/mo.

RentDateDistanceAddressBeds 
£74511/240.42 mi-2
£57511/230.57 mi-2
£89505/240.58 miCromwell Ford Way, Blaydon, NE212
£65004/240.58 mi-2
£79506/240.6 mi-2
£79506/240.6 miSpencer Terrace, Newcastle Upon Tyne, NE152
£84007/240.62 mi-2
£85008/240.62 mi-2
£79506/240.62 miSpencer Court, Walbottle, Newcastle Upon Tyne, NE152
£67511/240.63 mi-2
£2,00006/240.63 mi-2
£2,00012/240.63 mi-2
£69505/240.66 miBeckside Gardens, Newcastle Upon Tyne2
£79506/240.74 miWishaw Rise, Lemington2
£77505/240.74 mi-2
£67509/230.79 mi-2
£75006/240.82 miDerwent Water Drive, Blaydon-On-Tyne, Tyne And Wear, NE212
£79506/240.84 mi-2
£79512/240.84 mi-2
£79512/230.84 mi-2
£79512/240.85 mi-2
£75009/240.86 mi-2
£62506/240.86 miRupert Court, Newcastle upon Tyne, Tyne and Wear, NE152
£70007/240.86 mi-2
£89505/240.88 miAinsdale Gardens, Chapel House, Newcastle Upon Tyne2
£82512/240.88 miAinsdale Gardens, Chapel House, Newcastle Upon Tyne2
£84505/240.9 miArundel Drive, West Denton2
£65005/240.9 miDavison Street, Newburn, Newcastle upon Tyne, Tyne and Wear, NE15 8NB2
£65005/240.92 miRavenshill Road, Newcastle upon Tyne, Tyne and Wear, NE52
£67505/240.93 miSt. Georges Terrace Bells Close, Newcastle Upon Tyne, NE152
£69505/240.93 miHillhead Parkway, Newcastle Upon Tyne2
£60006/240.93 miWhitehall Road, Newcastle upon Tyne, Tyne and Wear, NE152
£59506/240.94 miAvalon Drive, Newcastle Upon Tyne, NE152
£65005/240.94 miHillhead Parkway, Chapel House, Newcastle Upon Tyne, NE52
£72506/240.98 miWhitehall Road, Newcastle upon Tyne, Tyne and Wear, NE152
£80012/240.99 mi-2
£95012/241.12 miMill Hill Road, Newcastle upon Tyne, NE52

Local Area Statistics

Population in NE15

32,552

Population in Newcastle upon Tyne

381,037

Town centre distance

3.10 miles away

Nearest school

0.60 miles away

Nearest train station

1.20 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+28%

Sales demand

Balanced market

Capital growth (5yrs)

+15%

Property History

Listed for £59,950

August 24, 2023

Sold for £37,950

2002

Sold for £29,000

2000

Floor Plans

Description

  • Two Bedroom Ground Floor Flat +

  • Sold With Sitting Tenant +

  • Leasehold With 49 Years Remaining +

  • EPC Rating - D +

  • Floor Area - 48 sq.m / 516 Sq.ft +

  • Council Tax Band - A +

This two bedroom ground floor flat is situated on the popular West Denton Park estate and includes gas central heating system and double glazing.

The property benefits from a nice street scape outlook and has a short lease. The property is to be sold with a tenant in situ who is currently paying £475 per month.

The accommodation comprises; entrance hall, lounge with doors to the garden and ample space for dining. The kitchen benefits from a range of units. There are two good sized bedrooms and a bathroom.

Externally there is a rear garden and garage in nearby block.

The property is located in the popular estate of West Denton Park. The estate and the surrounding areas enjoy a good range of local services including shops, schools and pubs. The area also provides excellent transport links with regular bus routes. The A69 and A1 are close at hand. The location also offers easy access across the river on the nearby Scotswood Bridge making commuting ideal.

Please note the property has a lease term left of 48 years left with a ground rent of £25 per annum.

IMPORTANT NOTE TO POTENTIAL PURCHASERS & TENANTS:
We endeavour to make our particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and none is to be relied upon as statements of representation or fact. The services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency is given. All photographs and measurements have been taken as a guide only and are not precise. Floor plans where included are not to scale and accuracy is not guaranteed. If you require clarification or further information on any points, please contact us, especially if you are traveling some distance to view. POTENTIAL PURCHASERS: Fixtures and fittings other than those mentioned are to be agreed with the seller. POTENTIAL TENANTS: All properties are available for a minimum length of time, with the exception of short term accommodation. Please contact the branch for details. A security deposit of at least one month’s rent is required. Rent is to be paid one month in advance. It is the tenant’s responsibility to insure any personal possessions. Payment of all utilities including water rates or metered supply and Council Tax is the responsibility of the tenant in every case.

QWD230302/2

Agent Details

YOUR MOVE Chris Stonock, West Denton

0191 625 0263

Next Steps?

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