2 Bed Flat, Potential PLO/LOA, South Shields, NE33 4JU, £67,500

Bewick Street, South Shields, NE33 4JU - 2 views - a year ago

Leasehold
Negative Equity
ROI: 11%
~68 m²
+4 photos

ValuationUndervalued

Sold Prices£39.9K - £152K
Sold Prices/m²£408/m² - £2.6K/m²

 

 

Square Metres

~68.11 m²
Price/m²£991/m²

Value Estimate

£74,277
BMV10%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£16,875

Stamp Duty & Legal Fees

£3,225

Total Cash In

£20,100

 

 

Cash Out

 

Rent Range

£475 - £1,900

Rent Estimate

£510

Running Costs/mo

£333

Cashflow/mo

£177

Cashflow/yr

£2,125

ROI

11%

Gross Yield

9%

Local Sold Prices

50 sold prices from £39.9K to £152K, average is £74.5K. £408/m² to £2.6K/m², average is £1.1K/m².

PriceDateDistanceAddressBeds 
£45K07/210.05 mi91, Collingwood Street, South Shields, Tyne And Wear NE33 4JZ2
£76.5K06/210.08 mi11, Pembroke Terrace, South Shields, Tyne And Wear NE33 4LG2
£82.5K09/230.09 mi12, Clifton Terrace, South Shields, Tyne And Wear NE33 4LD2
£90K11/210.09 mi15, Shrewsbury Terrace, South Shields, Tyne And Wear NE33 4LF2
£73K11/210.11 mi41, Oxford Street, South Shields, Tyne And Wear NE33 4BH2
£95K11/210.11 mi50, Oxford Street, South Shields, Tyne And Wear NE33 4BH2
£72K06/230.11 mi39, West Park Road, South Shields, Tyne And Wear NE33 4LB2
£74K06/230.12 mi18, Crondall Street, South Shields, Tyne And Wear NE33 4BL2
£85K05/230.17 mi19, Birchington Avenue, South Shields, Tyne And Wear NE33 4TY2
£55K01/210.17 mi26, Northcote Street, South Shields, Tyne And Wear NE33 4BY2
£78K06/210.18 mi22, Newbury Street, South Shields, Tyne And Wear NE33 4UE2
£58.5K07/230.19 mi117, Marlborough Street South, South Shields, Tyne And Wear NE33 4DB2
£70K02/210.21 mi107, Mortimer Road, South Shields, Tyne And Wear NE33 4UH2
£48K05/210.21 mi91, Northcote Street, South Shields, Tyne And Wear NE33 4DJ2
£80.5K01/230.22 mi83, Canterbury Street, South Shields, Tyne And Wear NE33 4DD2
£53.5K06/230.23 mi129, Alice Street, South Shields, Tyne And Wear NE33 5PG2
£56K12/220.24 mi2, Oxford Avenue, South Shields, Tyne And Wear NE33 4TW2
£75K06/210.24 mi92, Birchington Avenue, South Shields, Tyne And Wear NE33 4SA2
£97K05/230.24 mi54, Hartington Terrace, South Shields, Tyne And Wear NE33 4DE2
£110K09/210.25 mi84, Hepscott Terrace, South Shields, Tyne And Wear NE33 4TJ2
£65K08/210.3 mi241, Dean Road, South Shields, Tyne And Wear NE33 5LD2
£117K12/230.31 mi64, Warwick Road, South Shields, Tyne And Wear NE34 0SQ2
£108K09/210.31 mi40, Warwick Road, South Shields, Tyne And Wear NE34 0SQ2
£70K08/210.31 mi386, Dean Road, South Shields, Tyne And Wear NE33 5LL2
£82K01/230.32 mi29, High Shields Close, South Shields, Tyne And Wear NE33 5ES2
£84.5K06/210.32 mi125, Birchington Avenue, South Shields, Tyne And Wear NE33 4SB2
£40K11/200.36 mi31, Bedford Avenue, South Shields, Tyne And Wear NE33 4QJ2
£152K03/210.42 mi6, Kensington Court, South Shields, Tyne And Wear NE33 3DT2
£49K03/210.42 mi96, Imeary Street, South Shields, Tyne And Wear NE33 4EQ2
£52.5K09/210.42 mi367, Taylor Street, South Shields, Tyne And Wear NE33 5AW2
£53K10/230.42 mi387, Taylor Street, South Shields, Tyne And Wear NE33 5AW2
£83K06/230.43 mi16, Frost Mews, South Shields, Tyne And Wear NE33 4AL2
£65K12/230.43 mi44, East Moffett Street, South Shields, Tyne And Wear NE33 3PL2
£68K05/210.44 mi313, Stanhope Road, South Shields, Tyne And Wear NE33 4SS2
£42K11/200.46 mi194, Stanhope Road, South Shields, Tyne And Wear NE33 4ST2
£110K07/210.46 mi36, Cauldwell Place, South Shields, Tyne And Wear NE34 0SA2
£62.3K05/210.48 mi24, Ingham Grange, South Shields, Tyne And Wear NE33 3JJ2
£125K02/240.48 mi34, Ingham Grange, South Shields, Tyne And Wear NE33 3JJ2
£63K05/220.49 mi13, Cranford Street, South Shields, Tyne And Wear NE34 0QN2
£100K09/230.5 mi64, Ashley Road, South Shields, Tyne And Wear NE34 0PD2
£107K08/230.5 mi92, Ashley Road, South Shields, Tyne And Wear NE34 0PD2
£120K01/230.53 mi33, Ingham Grange, South Shields, Tyne And Wear NE33 3JJ2
£137.5K01/230.53 mi42, Cauldwell Place, South Shields, Tyne And Wear NE34 0SA2
£61K05/240.54 mi8a, St Michaels Avenue North, South Shields, Tyne And Wear NE33 3AL2
£79K04/210.54 mi7, Readhead Avenue, South Shields, Tyne And Wear NE33 3AW2
£39.9K07/210.54 mi34, Talbot Road, South Shields, Tyne And Wear NE34 0QJ2
£65K09/210.56 mi28, St Vincent Street, South Shields, Tyne And Wear NE33 3AR2
£75K10/200.56 mi29, St Vincent Street, South Shields, Tyne And Wear NE33 3AR2
£87K12/200.56 mi62, St Vincent Street, South Shields, Tyne And Wear NE33 3AR2
£74K05/230.56 mi42, St Vincent Street, South Shields, Tyne And Wear NE33 3AR2

Local Rents

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

RentDateDistanceAddressBeds 
£65002/240.02 mi-2
£70004/250.03 mi-2
£70005/240.05 mi-2
£70007/240.05 mi-2
£70004/250.05 mi-2
£55007/240.06 mi-2
£55006/240.06 miCollingwood Street, South Shields, NE332
£55007/240.06 miCollingwood Street, South Shields, NE332
£57503/240.07 mi-2
£60005/240.11 mi-2
£52002/240.13 mi-2
£55007/240.13 mi-2
£55004/250.13 mi-2
£60004/250.2 mi-2
£65004/250.2 mi-2
£57506/240.22 mi-2
£60005/240.23 mi-2
£65004/240.24 mi-2
£69512/240.24 mi-2
£60005/240.25 mi-2
£69507/240.25 miOxford Avenue, South Shields2
£57505/240.26 mi-2
£55003/250.26 mi-2
£75003/250.27 mi-2
£60012/240.27 miRekendyke Mews, South Shields2
£1,90006/240.31 mi-2
£1,90007/240.31 mi-2
£55005/240.32 mi-2
£79502/250.32 mi-2
£52005/240.36 mi-2
£69502/240.36 mi-2
£59506/240.4 mi-2
£59502/250.4 mi-2
£67505/240.42 mi96 Imeary Street, South Shields2
£64506/240.42 miImeary Street, South Shields, Tyne and Wear, NE332
£69505/240.45 mi-2
£52003/240.45 mi-2
£68504/250.48 mi-2
£68503/250.48 mi-2
£47512/240.48 mi33 Revesby Street South Shields NE33 4SY2
£85005/240.49 mi-2
£62506/240.5 miAshley Road, South Shields2
£77507/240.5 miIngham House, South Shields2
£60004/250.51 mi-2
£60004/250.51 mi-2
£63006/240.51 mi-2
£60011/230.52 mi-2
£75003/250.53 mi-2
£59901/250.53 mi-2
£58509/240.54 mi-2

Local Area Statistics

Population in NE33

27,262

Population in South Shields

79,432

Town centre distance

0.34 miles away

Nearest school

0.30 miles away

Nearest train station

0.47 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+19%

Sales demand

Seller's market

Capital growth (5yrs)

+8%

Property History

Listed for £67,500

-9%

November 15, 2023

Sold for £73,500

2004

Description

  • Ground Floor Flat +
  • Two Spacious Bedrooms +
  • Convenient Bus And Metro Links +
  • Easy Access To The Town Centre +
  • Available With Tenants Or Vacant Possession +
  • The property is Leasehold with a term of 999 Years from 24th June 1905 subject to an annual ground rent of £3.7s.6d. +
  • Reference: 441151 +

This charming ground floor flat on Bewick Street boasts two spacious bedrooms and a fantastic location just off Stanhope Road. Ideal for commuters, it offers easy access to the main bus route and Chichester Metro. Local shops and amenities are plentiful, with the Town Centre just a stone's throw away.

The floor plan features an Entrance Hall and two generously sized bedrooms. The Lounge connects seamlessly to a neutrally decorated kitchen, complete with ample appliance space. The property is enhanced by a Wet Room featuring a convenient shower. Outside, a rear yard adds to the appeal.

This versatile property is available with long-term tenants in place or as vacant possession, providing single-level living. Early viewing is highly recommended.
ENTRANCE
UPVC entrance door into hallway which has radiator.
LOUNGE 3.96m (13'0) x 3.07m (10'1)
Located to the rear at the property, double glazed window, radiator.
KITCHEN 2.69m (8'10) x 3.35m (11')
Range of wall and base units with contrasting worktops, plumbing for washer, space for fridge / freezer, space for cooker, lino to floor, double glazed window, combi boiler, door to the rear yard.
WET ROOM
Shower over, shower curtain, pedestal hand wash basin, low flush toilet, tiling to floor, cladding to walls, double glazed window.
BEDROOM ONE 4.6m (15'1) x 4.22m (13'10)
Double glazed window, radiator.
BEDROOM TWO 3.38m (11'1) x 2.39m (7'10)
Double glazed window, radiator.
EXTERIOR
Yard to rear.
Tenure
The property is Leasehold with a term of 999 Years from 24th June 1905 subject to an annual ground rent of £3.7s.6d.
The Agent Of The North
Andrew Craig is The Agent of the North and as Chartered Surveyors we can help you with all your Residential and Commercial property needs. Sales, Conveyancing, Lettings, Property Management, Surveys and Valuations. Call now on
Material Information
The information provided about this property does not constitute or form part of an offer or contract, nor may it be regarded as representations. All interested parties must verify accuracy and your solicitor must verify tenure and lease information, fixtures and fittings and, where the property has been recently constructed, extended or converted, that planning/building regulation consents are in place. All dimensions are approximate and quoted for guidance only, as are floor plans which are not to scale and their accuracy cannot be confirmed. Reference to appliances and/or services does not imply that they are necessarily in working order or fit for purpose. We offer our clients an optional conveyancing service, through panel conveyancing firms, via Move With Us and we receive on average a referral fee of one hundred and ninety four pounds, only on completion of the sale. If you do use this service, the referral fee is included within the amount that you will be quoted by our suppliers. All quotes will also provide details of referral fees payable.

EPC Rating: C
Tenure
We will provide as much information about tenure as we are able to and in the case of leasehold properties, we can in most cases provide a copy of the lease. They can be complex and buyers are advised to take legal advice upon the full terms of a lease. Where a lease is not readily available we will apply for a copy and this can take time.

Council Tax Band: A

Agent Details

Andrew Craig, South Shields

0191 625 0766

Next Steps?

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