2 Bed Flat, Single Let, Newcastle upon Tyne, NE3 2NS, £55,000

Park Avenue, Gosforth, Newcastle upon Tyne, Tyne and Wear, NE3 2NS - a year ago

Sold STC
Leasehold
BTL
ROI: 15%
~58 m²
+1 photos

ValuationUndervalued

Sold Prices£48K - £300K
Sold Prices/m²£907/m² - £3.6K/m²

 

 

Square Metres

~58.20 m²
Price/m²£945/m²

Value Estimate

£66,000
BMV20%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£13,750

Stamp Duty & Legal Fees

£3,950

Total Cash In

£17,700

 

 

Cash Out

 

Rent Range

£650 - £1,400

Rent Estimate

£515

Running Costs/mo

£295

Cashflow/mo

£220

Cashflow/yr

£2,642

ROI

15%

Gross Yield

11%

Local Sold Prices

50 sold prices from £48K to £300K, average is £116.9K. £907/m² to £3.6K/m², average is £1.9K/m².

PriceDateDistanceAddressBeds 
£83K03/210.19 mi7, Whalton Court, Newcastle Upon Tyne, Tyne And Wear NE3 3PB2
£65K04/210.23 mi61, Felton Avenue, Newcastle Upon Tyne, Tyne And Wear NE3 3NX2
£79K01/240.24 mi48, Craster Square, Newcastle Upon Tyne, Tyne And Wear NE3 3PL2
£95K04/230.24 mi17, Whalton Avenue, Newcastle Upon Tyne, Tyne And Wear NE3 3PA2
£102K11/220.27 mi7, Felton Avenue, Newcastle Upon Tyne, Tyne And Wear NE3 3NU2
£96K03/230.27 mi21, Falstone Square, Newcastle Upon Tyne, Tyne And Wear NE3 3NY2
£98.5K12/200.27 mi55, Falstone Square, Newcastle Upon Tyne, Tyne And Wear NE3 3NY2
£85K05/230.28 mi31, Embleton Avenue, Newcastle Upon Tyne, Tyne And Wear NE3 3HA2
£95K10/230.28 mi27, Embleton Avenue, Newcastle Upon Tyne, Tyne And Wear NE3 3HA2
£70K06/210.28 mi6, Craster Square, Newcastle Upon Tyne, Tyne And Wear NE3 3PJ2
£75K12/220.28 mi14, Craster Square, Newcastle Upon Tyne, Tyne And Wear NE3 3PJ2
£125K11/220.31 mi17, The Meadows, Newcastle Upon Tyne, Tyne And Wear NE3 3NA2
£87.5K04/210.43 mi27, Fallowfield Avenue, Newcastle Upon Tyne, Tyne And Wear NE3 3NN2
£175K10/210.43 mi6, Highbridge, Gosforth, Newcastle Upon Tyne, Tyne And Wear NE3 2HA2
£180K09/230.43 mi36, Highbridge, Gosforth, Newcastle Upon Tyne, Tyne And Wear NE3 2HA2
£175K12/200.43 mi52, Highbridge, Gosforth, Newcastle Upon Tyne, Tyne And Wear NE3 2HA2
£150K05/230.43 mi53, Highbridge, Gosforth, Newcastle Upon Tyne, Tyne And Wear NE3 2HA2
£108.8K03/230.47 mi43, Edgefield Avenue, Newcastle Upon Tyne, Tyne And Wear NE3 3ND2
£151K10/230.51 mi22, Knightsbridge Court, Gosforth, Newcastle Upon Tyne, Tyne And Wear NE3 2JW2
£166K02/210.51 mi11, Knightsbridge Court, Gosforth, Newcastle Upon Tyne, Tyne And Wear NE3 2JW2
£148K08/230.51 mi3, Knightsbridge Court, Gosforth, Newcastle Upon Tyne, Tyne And Wear NE3 2JW2
£58.5K11/210.53 mi39, Belsay Gardens, Newcastle Upon Tyne, Tyne And Wear NE3 2AU2
£92K08/210.53 mi62, Overfield Road, Newcastle Upon Tyne, Tyne And Wear NE3 3AJ2
£160K12/210.53 mi97, Knightsbridge Court, Gosforth, Newcastle Upon Tyne, Tyne And Wear NE3 2JZ2
£150.5K02/230.58 mi74, Greystoke Park, Gosforth, Newcastle Upon Tyne, Tyne And Wear NE3 2DZ2
£210K12/230.58 mi59, Greystoke Park, Gosforth, Newcastle Upon Tyne, Tyne And Wear NE3 2DZ2
£87K06/210.64 mi17, Warrington Road, Fawdon, Newcastle Upon Tyne, Tyne And Wear NE3 2PU2
£171K09/210.65 mi58, Lanesborough Court, Newcastle Upon Tyne, Tyne And Wear NE3 3BZ2
£250K03/230.65 mi67, Lanesborough Court, Newcastle Upon Tyne, Tyne And Wear NE3 3BZ2
£289.5K12/200.65 mi34, Lanesborough Court, Newcastle Upon Tyne, Tyne And Wear NE3 3BZ2
£268.5K02/230.65 mi32, Lanesborough Court, Newcastle Upon Tyne, Tyne And Wear NE3 3BZ2
£48K03/210.66 mi81, Haydon Close, Fawdon, Newcastle Upon Tyne, Tyne And Wear NE3 2BZ2
£190K11/220.67 mi66, Lanesborough Court, Newcastle Upon Tyne, Tyne And Wear NE3 3BZ2
£75K03/230.68 mi89, Haydon Close, Fawdon, Newcastle Upon Tyne, Tyne And Wear NE3 2BZ2
£70K09/210.69 mi17, Haydon Close, Fawdon, Newcastle Upon Tyne, Tyne And Wear NE3 2BY2
£60K09/210.69 mi62, Haydon Close, Fawdon, Newcastle Upon Tyne, Tyne And Wear NE3 2BY2
£60K09/210.69 mi62, Haydon Close, Fawdon, Newcastle Upon Tyne, Tyne And Wear NE3 2BY2
£75K10/210.69 mi35, Haydon Close, Fawdon, Newcastle Upon Tyne, Tyne And Wear NE3 2BY2
£62.5K10/210.69 mi53, Haydon Close, Fawdon, Newcastle Upon Tyne, Tyne And Wear NE3 2BY2
£77K12/230.69 mi49, Haydon Close, Fawdon, Newcastle Upon Tyne, Tyne And Wear NE3 2BY2
£82K07/230.69 mi40, Haydon Close, Fawdon, Newcastle Upon Tyne, Tyne And Wear NE3 2BY2
£168K11/220.69 mi187, Salters Road, Gosforth, Newcastle Upon Tyne, Tyne And Wear NE3 4HJ2
£170K11/220.72 mi10, Broomfield Road, Newcastle Upon Tyne, Tyne And Wear NE3 4HH2
£159K11/220.73 mi8, Broomfield Road, Newcastle Upon Tyne, Tyne And Wear NE3 4HH2
£172.5K12/220.73 mi22, Broomfield Road, Newcastle Upon Tyne, Tyne And Wear NE3 4HH2
£165K02/210.75 mi21, Salters Road, Newcastle Upon Tyne, Tyne And Wear NE3 1DH2
£175K06/210.75 mi19, Salters Road, Newcastle Upon Tyne, Tyne And Wear NE3 1DH2
£140K08/230.75 mi17, Salters Road, Gosforth, Newcastle Upon Tyne, Tyne And Wear NE3 1DH2
£300K12/200.81 mi24b, Woodbine Avenue, Newcastle Upon Tyne, Tyne And Wear NE3 4EU2
£135K10/210.83 mi4, Ashfield Road, Newcastle Upon Tyne, Tyne And Wear NE3 4XL2

Local Rents

50 rents from £650/mo to £1.4K/mo, average is £850/mo.

RentDateDistanceAddressBeds 
£82506/240.22 miFelton Avenue, Fawdon, Newcastle Upon Tyne.2
£70006/240.23 mi-2
£69507/240.23 mi-2
£83003/250.25 mi-2
£65012/240.26 mi-2
£77506/240.26 mi-2
£65005/240.27 miBamburgh Walk, Newcastle Upon Tyne2
£85012/240.35 mi-2
£90005/240.42 miMapledene Road Newcastle, Newcastle, NE32
£89902/240.42 mi-2
£89905/240.42 mi-2
£90005/240.42 mi-2
£1,40005/240.42 miHighbridge, Gosforth, Newcastle Upon Tyne2
£85006/240.43 miFallowfield Avenue, Fawdon2
£85005/240.43 miHighbridge, Gosforth2
£1,40005/240.43 miHighbridge, Gosforth, Newcastle Upon Tyne, Tyne and Wear, NE32
£75005/240.45 mi-2
£75005/240.45 miKenton Road, Newcastle Upon Tyne, NE32
£1,12503/240.45 miNorthumbria House, Regent Farm Road, Newcastle Upon Tyne, NE32
£1,12505/240.45 miNorthumbria House, Regent Farm Road, Gosforth2
£87503/250.45 mi-2
£1,22503/240.47 miRegent Centre, Newcastle Upon Tyne, NE32
£1,17507/240.47 miHorsley South, Newcastle Upon Tyne, NE32
£1,22512/240.47 miRegent Centre, Newcastle Upon Tyne, NE32
£1,30012/240.47 miHorsley South, Regent Centre, Newcastle Upon Tyne, NE32
£80002/250.47 mi-2
£87512/240.5 miGreat North Road, Gosforth, Newcastle Upon Tyne, NE32
£70006/240.5 miAshover Road, Kenton, Newcastle Upon Tyne, NE32
£89507/240.51 miOverfield Road, Kenton, Newcastle Upon Tyne, NE32
£80005/240.51 miGreat North Road, Gosforth2
£95006/240.51 miKnightsbridge Court, Gosforth2
£85005/240.52 miGreat North Road, Gosforth, Newcastle upon Tyne, Tyne and Wear, NE3 5JN2
£87507/240.52 miGreat North Road, Gosforth, Newcastle upon Tyne, Tyne and Wear, NE3 5JN2
£75005/240.52 miStrathmore Road, Gosforth, Newcastle upon Tyne, Tyne and Wear, NE3 5JS2
£87507/240.54 miGreat North Road, Gosforth, Newcastle Upon Tyne2
£84507/240.54 miGreat North Road, Gosforth, Newcastle upon Tyne, Tyne and Wear, NE32
£85005/240.55 miGreat North Road, Gosforth, Newcastle upon Tyne, Tyne and Wear, NE32
£85007/240.56 miStrathmore Road, Gosforth, Newcastle Upon Tyne2
£74512/240.56 miStrathmore Road, Newcastle upon Tyne, Tyne and Wear, NE32
£1,32012/240.57 mi504 Regents Plaza, Regent Farm Road, Gosforth 2
£1,22507/240.57 miRegents Plaza, Regent Farm Road, Gosforth2
£1,23505/240.57 mi803 Regents Plaza, Regent Farm Road, Gosforth2
£75005/240.57 miStrathmore Road, Newcastle upon Tyne, Tyne and Wear, NE32
£1,40006/240.58 miBrandon Road, Fawdon2
£75005/240.58 miStrathmore Road, Newcastle upon Tyne, Tyne and Wear, NE32
£85007/240.58 miHarewood Road, Gosforth, Newcastle upon Tyne, Tyne and Wear, NE3 5JT2
£74007/240.58 miHarewood Road, Gosforth, Newcastle upon Tyne, Tyne and Wear, NE3 5JT2
£85007/240.58 miHarewood Road, Gosforth, Newcastle upon Tyne, Tyne and Wear, NE3 5JT2
£85005/240.59 miGrange Road, Gosforth, Newcastle upon Tyne, Tyne and Wear, NE3 5LA2
£1,00005/240.6 miKnightsbridge Court, NE32

Local Area Statistics

Population in NE3

53,771

Population in Newcastle upon Tyne

381,037

Town centre distance

1.08 miles away

Nearest school

0.20 miles away

Nearest train station

0.30 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+33%

Sales demand

Seller's market

Capital growth (5yrs)

+28%

Property History

Price changed to £55,000

February 8, 2025

Listed for £70,000

October 2, 2023

Floor Plans

Description

  • Investment or Vacant Possession +
  • £515pcm Rent / 8.8% Gross Yield +
  • Ground Floor Flat +
  • Two Bedrooms +

Two Bedroom FlatInvestment or Vacant Possession** A purpose-built ground floor flat, well located within reach Wansbeck Road Metro Station, and Gosforth amenities. Currently let at £515 per calendar month, the property generates a gross yield of 11.2% (projected open-market rent £625pcm / projected gross yield 13.6%). With a Communal Entrance, the flat includes a Private Entrance Hall, a Living Room / Dining Room, a Kitchen, two double bedrooms, and a Shower Room. The property further benefits from double glazing and electric heating.
Council tax band: A

Agent Details

Pat Robson, Gosforth

0191 625 0763

Next Steps?

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