2 Bed Flat, Single Let, Gateshead, NE10 8QX, £49,950

7 Lecondale Court, Gateshead, Tyne And Wear, NE10 8QX - 7 views - 9 months ago

Leasehold
BTL
ROI: 25%
~68 m²
+3 photos

ValuationUndervalued











Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£12,488

Stamp Duty & Legal Fees

£2,699

Total Cash In

£15,186

 

 

Cash Out

 

Rent Range

£600 - £850

Rent Estimate

£622

Running Costs/mo

£300

Cashflow/mo

£322

Cashflow/yr

£3,858

ROI

25%

Gross Yield

15%













Local Rents

33 rents from £600/mo to £850/mo, average is £695/mo.

RentDateDistanceAddressBeds 
£69504/240 mi-2
£65003/240.14 miStaneway, Leam Lane2
£65005/240.15 miStaneway, Gateshead2
£74503/250.17 mi-2
£69505/240.34 miCotemede, Leam Lane, Gateshead2
£80006/240.41 miHopedene, Leam Lane, Gateshead, Tyne And Wear, NE102
£60005/240.75 miColtsfoot Gardens, Windy Nook, Gateshead, Tyne And Wear, NE102
£68508/230.77 mi-2
£65008/240.81 mi-2
£65006/240.88 miChopwell Gardens, Wrekenton, Gateshead, NE92
£69507/240.94 miStone Street, Gateshead, Tyne And Wear, NE102
£72512/230.94 mi-2
£69502/240.95 mi-2
£69507/240.95 miThe Haynyng, Gateshead, Tyne And Wear, NE102
£62512/230.97 mi-2
£80007/241.01 miGalloping Green Road, Gateshead2
£77506/241.04 miAlbion Terrace, Gateshead2
£77502/241.05 mi-2
£79501/241.05 mi-2
£85007/241.06 miWingrove Terrace, Springwell, Gateshead2
£79506/241.09 miCypress Road, Eighton Banks, NE92
£65008/241.1 miWindy Nook Road, Windy Nook2
£65008/241.1 miWindy Nook Road, Gateshead2
£75005/241.11 miSt. Marys Terrace, Heworth, Gateshead, Tyne and Wear, NE10 0NY2
£77505/241.13 miRydal, Gateshead2
£60003/251.13 mi-2
£69506/241.16 miOllerton Gardens, Gateshead2
£67502/251.17 mi-2
£67506/241.19 miKings Terrace, Springwell Village2
£80010/241.19 mi-2
£80005/241.21 miDonridge, Washington, Tyne and Wear, NE37 1EW2
£69505/241.22 miHewitson Terrace, Felling, NE102
£77506/241.23 miPenrith Gardens, Low Fell2

Local Area Statistics

Population in NE10

35,991

Population in Gateshead

122,353

Town centre distance

1.37 miles away

Nearest school

0.30 miles away

Nearest train station

1.21 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

+32%

Sales demand

Seller's market

Capital growth (5yrs)

+26%

Property History

Listed for £49,950

June 10, 2024

Sold for £50,000

2016

Sold for £57,500

2012

Sold for £58,000

2004

Description

  • Situated On The Ground Floor +
  • White Family Bathroom +
  • No Onward Chain +
  • Currently Tenanted +
  • 7%+ Investment Yield +
  • Gas Central Heating Via Combi Boiler +
  • Excellent Opportunity For First Time Buyers +
  • EPC Rating - D +
  • Viewings Highly Recommended +
  • External Garden Space +

We are pleased to welcome to the market this currently tenanted ground floor flat which should appeal to buy to let investors...

Bell Estate Agents are pleased to welcome to the market this well cared for ground floor flat. The internal accommodation briefly comprises of a secure communal entrance leading to the properties inner lobby, leading on from this is a good size lounge/dining room which also provides access to the garden. Completing the layout are two well proportioned bedrooms, a three piece family bathroom and fitted kitchen with integrated oven/hob.

The properties yield is currently in excess of 7% making this a good rental investment for and landlords. Contact the branch for any further information. (Rental yields are subject to change and circumstances.)

Leam Lane Estate was built in the 1950s. Originally made up predominantly of council-built accommodation. Its main shopping area, Fewster Square comprises of convenience stores, a DIY shop, library, community centre, Post Office and medical centre. As well as a range of local pubs/takeaways. There is also The Oliver Henderson Park which includes a play area, a lake, a skateboard park and a bowling green.The estate has four primary schools: Roman Road, Colegate, Saint Augustine's and Lingey House. It has one Secondary School, situated on the border of Leam Lane and Heworth and is named Heworth Grange Comprehensive School.

Agent Details

Bell Estate Agents, Gateshead

0191 625 0825

Next Steps?

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