2 Bed Flat, Single Let, Gateshead, NE8 3QA, £55,000

14 East Hill Road, Gateshead, Tyne And Wear, NE8 3QA - 5 views - a year ago

Sold STC
Leasehold
BTL
ROI: 21%
~75 m²
+3 photos

ValuationUndervalued

Sold Prices£40.5K - £110K
Sold Prices/m²£643/m² - £2K/m²

 

 

Square Metres

~74.52 m²
Price/m²£738/m²

Value Estimate

£68,750
BMV25%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£13,750

Stamp Duty & Legal Fees

£2,850

Total Cash In

£16,600

 

 

Cash Out

 

Rent Range

£525 - £1,800

Rent Estimate

£595

Running Costs/mo

£311

Cashflow/mo

£284

Cashflow/yr

£3,408

ROI

21%

Gross Yield

13%

Local Sold Prices

50 sold prices from £40.5K to £110K, average is £89.3K. £643/m² to £2K/m², average is £1.6K/m².

PriceDateDistanceAddressBeds 
£52.5K02/210.12 mi22, Bayfield Gardens, Gateshead, Tyne And Wear NE8 3PT2
£62K01/230.16 mi24, King Edward Street, Gateshead, Tyne And Wear NE8 3PR2
£64K08/210.16 mi50, King Edward Street, Gateshead, Tyne And Wear NE8 3PR2
£40.5K04/210.18 mi45, Howe Street, Gateshead, Tyne And Wear NE8 3PQ2
£66K03/230.2 mi108, Howe Street, Gateshead, Tyne And Wear NE8 3PP2
£66.5K03/240.2 mi48, Howe Street, Gateshead, Tyne And Wear NE8 3PP2
£62.5K02/230.23 mi3, Moore Street, Gateshead, Tyne And Wear NE8 3PN2
£80K06/220.27 mi10, Woodbine Terrace, High Felling, Gateshead, Tyne And Wear NE10 9JU2
£101K06/230.3 mi50, Sanderson Villas, Gateshead, Tyne And Wear NE8 3DD2
£103K04/240.3 mi24, Sanderson Villas, Gateshead, Tyne And Wear NE8 3DD2
£88.5K03/210.34 mi109, Sanderson Villas, Gateshead, Tyne And Wear NE8 3BU2
£95K02/210.35 mi203, Sanderson Villas, Gateshead, Tyne And Wear NE8 3BZ2
£105K02/230.35 mi197, Sanderson Villas, Gateshead, Tyne And Wear NE8 3BZ2
£92.5K10/200.38 mi30, Ovett Gardens, Gateshead, Tyne And Wear NE8 3JH2
£100K01/230.39 mi17, Ovett Gardens, Gateshead, Tyne And Wear NE8 3JH2
£105K12/220.39 mi80, Foster Drive, Gateshead, Tyne And Wear NE8 3JG2
£78K07/210.4 mi16, Radcliffe Close, Gateshead, Tyne And Wear NE8 3JZ2
£76K12/200.42 mi16, Foster Drive, Gateshead, Tyne And Wear NE8 3JG2
£86.5K09/210.42 mi7, Renforth Close, Gateshead, Tyne And Wear NE8 3JF2
£90K08/230.42 mi19, Renforth Close, Gateshead, Tyne And Wear NE8 3JF2
£100K02/230.42 mi55, Renforth Close, Gateshead, Tyne And Wear NE8 3JF2
£95K10/210.42 mi21, Renforth Close, Gateshead, Tyne And Wear NE8 3JF2
£93.5K06/230.45 mi89, Foster Drive, Gateshead, Tyne And Wear NE8 3JA2
£80K09/210.45 mi5, Foster Drive, Gateshead, Tyne And Wear NE8 3JA2
£97K03/230.46 mi201, Redgrave Close, Gateshead, Tyne And Wear NE8 3JT2
£92K09/230.46 mi119, Redgrave Close, Gateshead, Tyne And Wear NE8 3JT2
£75K11/200.46 mi179, Redgrave Close, Gateshead, Tyne And Wear NE8 3JT2
£93K08/210.46 mi131, Redgrave Close, Gateshead, Tyne And Wear NE8 3JT2
£80K11/200.46 mi151, Redgrave Close, Gateshead, Tyne And Wear NE8 3JT2
£65K03/230.46 mi66, Fife Street, Gateshead, Tyne And Wear NE8 3RR2
£105K12/220.46 mi11, Foster Drive, Gateshead, Tyne And Wear NE8 3JA2
£88K03/230.47 mi10, Renforth Close, Gateshead, Tyne And Wear NE8 3JB2
£100K07/230.47 mi58, Renforth Close, Gateshead, Tyne And Wear NE8 3JB2
£93K07/210.47 mi92, Redgrave Close, Gateshead, Tyne And Wear NE8 3JE2
£95K10/200.47 mi36, Redgrave Close, Gateshead, Tyne And Wear NE8 3JE2
£90K07/240.47 mi8, Redgrave Close, Gateshead, Tyne And Wear NE8 3JE2
£100K03/230.47 mi30, Redgrave Close, Gateshead, Tyne And Wear NE8 3JE2
£66K01/230.49 mi48, The Avenue, Felling, Gateshead, Tyne And Wear NE10 0JA2
£48K06/230.49 mi18, Blake Walk, Gateshead, Tyne And Wear NE8 3NW2
£85K10/210.5 mi103, Redgrave Close, Gateshead, Tyne And Wear NE8 3JD2
£87K09/210.5 mi35, Redgrave Close, Gateshead, Tyne And Wear NE8 3JD2
£110K11/210.5 mi57, Redgrave Close, Gateshead, Tyne And Wear NE8 3JD2
£97.5K03/210.5 mi101, Redgrave Close, Gateshead, Tyne And Wear NE8 3JD2
£80K09/210.52 mi3, Betjeman Mews, Gateshead, Tyne And Wear NE8 3BF2
£96K10/200.52 mi8, Betjeman Mews, Gateshead, Tyne And Wear NE8 3BF2
£93K06/210.52 mi9, Betjeman Mews, Gateshead, Tyne And Wear NE8 3BF2
£70K03/210.54 mi368, Old Durham Road, Gateshead, Tyne And Wear NE8 4BQ2
£70K09/230.54 mi368, Old Durham Road, Gateshead, Tyne And Wear NE8 4BQ2
£98.5K11/210.54 mi132, Chaucer Close, Gateshead, Tyne And Wear NE8 3NQ2
£80K07/230.55 mi33, Baden Powell Street, Gateshead, Tyne And Wear NE9 5LD2

Local Rents

50 rents from £525/mo to £1.8K/mo, average is £775/mo.

RentDateDistanceAddressBeds 
£65007/240.07 miSunderland Road, Gateshead, NE82
£65007/240.07 mi-2
£1,80006/240.09 mi-2
£70008/240.1 mi-2
£69506/240.12 miBayfield Gardens, Gateshead2
£87506/240.13 mi-2
£85007/240.13 mi-2
£85007/240.13 miBayfield Gardens, Gateshead, NE82
£59505/240.14 miAsher Street, Gateshead, NE92
£85006/240.14 miBishops Park Road, Gateshead2
£59506/240.16 miKing Edward Street, Gateshead2
£52507/240.16 miKing Edward Street, Gateshead, NE82
£60005/240.16 mi-2
£59506/240.16 mi-2
£85002/250.19 mi-2
£64503/250.21 mi-2
£1,10006/240.21 miMoore Street, Gateshead NE82
£77509/240.23 mi-2
£77512/240.23 mi-2
£71005/240.29 miAcacia Road, Gateshead, Tyne And Wear, NE102
£70007/240.3 miSanderson Villas, St James Village, Gateshead, NE82
£72506/240.3 miSanderson Villas, Gateshead, NE82
£85006/240.3 miSanderson Villas, Gateshead, NE82
£79507/240.3 miSanderson Villas, Gateshead, NE82
£79511/240.33 mi-2
£68012/230.33 mi-2
£75012/240.33 mi-2
£77506/240.33 miSanderson Villas, Gateshead2
£73006/240.34 miSanderson Villas, Gateshead, NE8 3BU2
£77506/240.34 miSanderson Villas, St James Village, NE82
£77507/240.34 miSanderson Villas, St James Village, NE82
£71007/240.36 miMarigold Avenue, Gateshead, Tyne And Wear, NE102
£89512/240.36 mi-2
£80006/240.38 miOvett Gardens, St James Village, Gateshead, Tyne and Wear, NE8 3JH2
£85012/230.39 mi-2
£77512/230.39 mi-2
£85001/250.39 mi-2
£60005/240.39 miSandringham Court, Felling, Gateshead, Tyne & Wear, NE10 9UB2
£80006/240.4 miFoster Drive, St James's Village , Gateshead, Tyne and Wear, NE8 3JG2
£79906/240.41 mi-2
£70006/240.42 miFoster Drive, St. James Village2
£80007/240.42 miFoster Drive, Gatehead2
£75005/240.42 mi-2
£79004/240.42 mi-2
£80012/240.42 mi-2
£85007/240.42 miOvett Gardens, Gateshead, NE82
£85007/240.42 mi-2
£87503/250.43 mi-2
£62505/240.43 miKensington Court, Felling, Gateshead, NE102
£62507/240.44 miKensington Court, Nursery Lane, Gateshead, Tyne and wear, NE10 9UD2

Local Area Statistics

Population in NE8

32,358

Population in Gateshead

122,353

Town centre distance

0.91 miles away

Nearest school

0.20 miles away

Nearest train station

0.36 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+64%

Sales demand

Balanced market

Capital growth (5yrs)

+15%

Property History

Listed for £55,000

November 30, 2023

Sold for £52,500

2022

Sold for £50,000

2011

Floor Plans

Description

  • Great Investment +
  • Popular Location +
  • Spacious Bedrooms +
  • Wooden Floors +

Welcome to East Hill Road. This property is a well-presented two-bedroom, one-bathroom ground floor apartment on East Hill Road, Gateshead, NE8. Keep reading to find out what makes this property unique!

Great Investment- 12% Yield:

This property comes with a fantastic investment opportunity. Whether you're an experienced investor or looking to start your property investment journey.

Popular Location:

This property enjoys a prime location with easy access to essential amenities as well as being only 5 minutes from Newcastle City Centre and the Queen Elizabeth Hospital in Gateshead. Its convenient position ensures the property will always attract tenants.

No Chain:

The property is offered for sale with no onward chain, streamlining the buying process and allowing for a smooth and hassle-free transaction. Buyers can proceed with confidence, knowing that there are no delays or complications associated with a chain.

Walking into the property you are greeted by a large entrance hall, leading to all living areas. A bright open plan living room/dining room is situated to the rear of the apartment as well as a modern fitted kitchen with ample storage and counter space and Gas cooker, white metro tile splashbacks give a modern finish. Following on from the kitchen there is a separate utility room allowing tenants to keep their large appliances out of the way freeing up more space in their home.

There are also two spacious double bedrooms with built-in wardrobes for extra storage space. You also have a family bathroom with a bath, overhead shower and separate toilet.

This house is located near many local amenities such as the Queen Elizabeth Hospital within a 10-minute drive, Newcastle City Centre, Gateshead City Centre, schools, shops, takeaways, and other everyday necessities.

Available: Now

Early viewing is highly recommended.

Council Tax Band: A (Gateshead Council)
Tenure: Leasehold (107 years)
The lease is for 125 years starting from the 3rd January 2006

Agent Details

NGU HOMES, Gateshead

0191 625 0172

Next Steps?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪