3 Bed Semi-Detached House, Cash/Bridging Only, Newcastle upon Tyne, NE15 6RX, £120,000

Bishops Road, Newcastle Upon Tyne, NE15 6RX - 6 views - 8 months ago

Sold STC
Cash
ROI: 10%
~93 m²
+7 photos

ValuationOvervalued

Sold Prices£55K - £230K
Sold Prices/m²£631/m² - £2.8K/m²

 

 

Square Metres

~93 m²
Price/m²£1.3K/m²

Value Estimate

£114,665

 

 

End Value (After Refurb)

£110,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£30,000

Stamp Duty & Legal Fees

£4,800

Refurb Costs

£35,814

Bridging Loan Interest

£3,150

Total Cash In

£75,514

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£110,000

Mortgage (After Refinance)

£82,500

Mortgage LTV

75%

Cash Left In

£75,514

Equity

£27,500

Rent Range

£600 - £2,100

Rent Estimate

£1,246

Running Costs/mo

£613

Cashflow/mo

£633

Cashflow/yr

£7,597

ROI

10%

Gross Yield

12%

Local Sold Prices

50 sold prices from £55K to £230K, average is £128K. £631/m² to £2.8K/m², average is £1.2K/m².

PriceDateDistanceAddressBeds 
£112.3K11/200.06 mi27, Bishops Road, Newcastle Upon Tyne, Tyne And Wear NE15 6RY3
£110K06/210.07 mi30, Benwell Grange Avenue, Newcastle Upon Tyne, Tyne And Wear NE15 6RP3
£101K05/210.09 mi306, Armstrong Road, Newcastle Upon Tyne, Tyne And Wear NE15 6JB3
£86K12/200.13 mi35, Benwell Grange Terrace, Newcastle Upon Tyne, Tyne And Wear NE15 6RL3
£159K03/230.13 mi22, Benwell Grange Terrace, Newcastle Upon Tyne, Tyne And Wear NE15 6RL3
£131K02/230.13 mi25, Benwell Grange Terrace, Newcastle Upon Tyne, Tyne And Wear NE15 6RL3
£77K10/200.14 mi70, Bilbrough Gardens, Newcastle Upon Tyne, Tyne And Wear NE4 8YA3
£80K09/230.14 mi308, Armstrong Road, Newcastle Upon Tyne, Tyne And Wear NE15 6JB3
£137K03/230.18 mi28, Hodgkin Park Road, Benwell, Newcastle Upon Tyne, Tyne And Wear NE15 6RH3
£110K09/230.18 mi24, Hodgkin Park Road, Benwell, Newcastle Upon Tyne, Tyne And Wear NE15 6RH3
£105K11/200.19 mi10, Hodgkin Park Crescent, Newcastle Upon Tyne, Tyne And Wear NE15 6RQ3
£156K06/240.19 mi28, Hodgkin Park Crescent, Newcastle Upon Tyne, Tyne And Wear NE15 6RQ3
£133K02/230.27 mi120 - 122, Condercum Road, Newcastle Upon Tyne, Tyne And Wear NE4 9JE3
£135.5K08/230.33 mi30, Pendower Way, Newcastle Upon Tyne, Tyne And Wear NE15 6SP3
£125K07/230.35 mi208, Condercum Road, Newcastle Upon Tyne, Tyne And Wear NE4 9JD3
£135K03/240.35 mi19, Gill Street, Newcastle Upon Tyne, Tyne And Wear NE4 8BH3
£73K11/200.36 mi16, Ellesmere Road, Newcastle Upon Tyne, Tyne And Wear NE4 8TS3
£85K02/210.36 mi23, Rushie Avenue, Newcastle Upon Tyne, Tyne And Wear NE15 6LU3
£95K03/210.37 mi81, Canning Street, Newcastle Upon Tyne, Tyne And Wear NE4 8UH3
£215K08/220.37 mi50, Bellshiel Grove, Newcastle Upon Tyne, Tyne And Wear NE15 6BG3
£153.6K12/210.38 mi41, Weidner Road, Newcastle Upon Tyne, Tyne And Wear NE15 6QR3
£150K10/230.38 mi43, Broomridge Avenue, Newcastle Upon Tyne, Tyne And Wear NE15 6QN3
£150K10/230.38 mi43, Broomridge Avenue, Newcastle Upon Tyne, Tyne And Wear NE15 6QN3
£108.5K02/210.4 mi9, Teindland Close, Newcastle Upon Tyne, Tyne And Wear NE4 8HE3
£108.5K02/210.4 mi9, Teindland Close, Newcastle Upon Tyne, Tyne And Wear NE4 8HE3
£130K07/240.4 mi7, Teindland Close, Newcastle Upon Tyne, Tyne And Wear NE4 8HE3
£55K02/210.41 mi63, Ladykirk Road, Newcastle Upon Tyne, Tyne And Wear NE4 8AH3
£77K05/210.41 mi50, Ladykirk Road, Newcastle Upon Tyne, Tyne And Wear NE4 8AH3
£60K05/210.41 mi45, Ladykirk Road, Newcastle Upon Tyne, Tyne And Wear NE4 8AH3
£135K12/230.41 mi35, Westholme Gardens, Newcastle Upon Tyne, Tyne And Wear NE15 6QJ3
£125K07/230.43 mi40, Springhill Gardens, Newcastle Upon Tyne, Tyne And Wear NE15 6QS3
£85K07/210.44 mi75, Fairholm Road, Newcastle Upon Tyne, Tyne And Wear NE4 8AT3
£156.5K11/210.46 mi65, Featherwood Avenue, Newcastle Upon Tyne, Tyne And Wear NE15 6BW3
£105K07/210.46 mi21, Bertram Crescent, Newcastle Upon Tyne, Tyne And Wear NE15 6PX3
£129K02/230.46 mi89, Normount Road, Newcastle Upon Tyne, Tyne And Wear NE4 8SH3
£126K09/210.46 mi101, Normount Road, Newcastle Upon Tyne, Tyne And Wear NE4 8SH3
£137K06/230.46 mi27, Normount Road, Newcastle Upon Tyne, Tyne And Wear NE4 8SH3
£145K06/220.47 mi11, Coventry Gardens, Newcastle Upon Tyne, Tyne And Wear NE4 8DX3
£175K02/230.48 mi32, Clovelly Avenue, Newcastle Upon Tyne, Tyne And Wear NE4 8SE3
£159.9K09/230.52 mi42, Cliftonville Avenue, Newcastle Upon Tyne, Tyne And Wear NE4 8RT3
£127K02/240.52 mi46, Cliftonville Avenue, Newcastle Upon Tyne, Tyne And Wear NE4 8RT3
£155K06/210.52 mi13, Cliftonville Avenue, Newcastle Upon Tyne, Tyne And Wear NE4 8RT3
£85K08/210.52 mi7, Dipton Avenue, Newcastle Upon Tyne, Tyne And Wear NE4 8DT3
£110K01/210.52 mi207, Hampstead Road, Newcastle Upon Tyne, Tyne And Wear NE4 8TP3
£75K11/210.52 mi204 - 206, Hampstead Road, Newcastle Upon Tyne, Tyne And Wear NE4 8TP3
£210K07/220.53 mi21, Cliftonville Avenue, Newcastle Upon Tyne, Tyne And Wear NE4 8RT3
£230K10/220.54 mi66, Shipley Avenue, Newcastle Upon Tyne, Tyne And Wear NE4 9RA3
£171K10/230.54 mi29, Eastgate Gardens, Newcastle Upon Tyne, Tyne And Wear NE4 8DR3
£161K06/230.54 mi31, Eastgate Gardens, Newcastle Upon Tyne, Tyne And Wear NE4 8DR3
£140K07/230.55 mi12, Normount Avenue, Newcastle Upon Tyne, Tyne And Wear NE4 8AR3

Local Rents

21 rents from £600/mo to £2.1K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£60006/240.13 miJoan Street, Benwell, Newcastle Upon Tyne3
£1,30006/240.2 mi-3
£1,30006/240.2 miEthel Street, Newcastle Upon Tyne, NE43
£85002/250.37 mi-3
£85002/250.37 mi-3
£95003/250.38 mi-3
£90003/250.38 mi-3
£1,10005/240.42 miChester Pike, The Rise, Newcastle upon Tyne, NE153
£65011/240.42 mi-3
£70012/240.42 mi-3
£1,30012/240.44 miFeatherwood Avenue, Newcastle Upon Tyne3
£95004/250.48 mi-3
£2,10005/240.51 mi-3
£95006/240.53 miWest Road, Westerhope, Newcastle upon Tyne, NE43
£1,35012/240.53 mi-3
£1,35007/240.53 mi-3
£1,35004/250.53 mi-3
£1,10003/250.53 mi-3
£1,25006/240.56 miFeatherwood Avenue, Newcastle Upon Tyne, Tyne and Wear, NE153
£1,25006/240.56 miFeatherwood Avenue, Newcastle Upon Tyne, Tyne and Wear, NE153
£1,10005/240.61 miChesterholm Avenue, The Rise, Newcastle Upon Tyne, Tyne and Wear, NE153

Local Area Statistics

Population in NE15

32,552

Population in Newcastle upon Tyne

381,037

Town centre distance

2.67 miles away

Nearest school

0.10 miles away

Nearest train station

0.77 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+22%

Sales demand

Seller's market

Capital growth (5yrs)

+11%

Property History

Listed for £120,000

August 17, 2024

Description

  • 3 Bed semi detached house +
  • Freehold +
  • NO CHAIN +
  • Ideal for investors and FTB,s +

We welcome to the market this three double bedroom semi detached family home in the heart of the popular Benwell area. Having modern fixtures and fittings yet retains original features throughout completed to a high standard. There are an array of amenities nearby to include shops, public transport links to the city centre. Metro Centre, along with major trunk roads are all also easily accessible.

Benefits include double glazing, gas central heating, town garden and driveway to front and decked and grass garden to rear. No onward chain.

Briefly comprising of entrance hall, lounge, dining, kitchen and garage storage. Stairs lead to first floor landing were there are three double bedrooms and a family bathroom and separate w/c Viewing is essential.

EPC rating D

Hallway
Double glazed part glazed entrance door, wood flooring, radiator, stairs to first floor landing and under stairs landing.

Lounge : 14' 1'' x 11' 7'' (4.29m x 3.53m)
Double glazed bay window to front, feature fire place, coving to ceiling and television point.

Dining area 16' 1'' x 11' 4'' (4.90m x 3.45m)
Double glazed bay window to rear, television point, tiled floor and two radiators.

Kitchen : 6' 7'' x 10' 10'' (3.01m x 3.30m)
Open plan Kitchen Diner Fitted with base units with wood work tops, sink unit, double glazed window to rear, and door leading to garden.

First Floor Landing
Double glazed window to side elevation and loft access.

Bedroom One : 13' 2'' x 10' 4'' (4.01m x 3.15m)
Double glazed window to front and radiator.

Bedroom Two : 12' 11'' x 10' 4'' (3.93m x 3.15m)
Double glazed window to rear and radiator.

Bedroom Three : 9' 3'' x 7' 9'' (2.82m x 2.36m)
Double glazed window to front and radiator.

Bathroom : 8' 2'' x 7' 8'' (2.49m x 2.34m)
White bathroom suite comprising of bath with shower mixed tap, pedestal hand wash basin and chrome heated towel rail, tiled walls, tiled floor and two frosted glass double glazed windows to side.

W/C : low level w.c with window

Rear Garden
Decked seating and grass areas, with fenced boundaries.

Front garden
Town garden to front and single garage

DISCLAIMER:

We endeavour to make our property details accurate. Any services, systems and appliances listed in the details have not been tested by us and no guarantee is given to their operating ability or efficiency. All the measurements and floor plans have been taken as a guide to prospective purchasers and are not to be relied upon. Please be advised that some of the information may be awaiting vendor approval. If you require clarification of further information on any points please contact us direct.

MAKING AN OFFER Please note that all offers will require financial verification including mortgage agreement in principle, proof of deposit funds, proof of available cash and full chain details including selling agents and solicitors down the chain. Under New Money Laundering Regulations we require proof of identification from all buyers before acceptance letters are sent and solicitors can be instructed.

Tenure - We are not able to verify the tenure of the property as it is not always possible to see sight of the relevant documentation prior to marketing. Prospective purchasers must make further enquiries with their legal advise.

VIEWING Contact True Homes Estate Agents for an appointment to view.

WEBSITE COVERAGE We are proud to be affiliated with the UK's leading property portals.

FINANCIAL ADVICE YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP THE REPAYMENTS ON THE MORTGAGE OR LOANS SECURED ON THE PROPERTY.

Through our association with a leading independent mortgage advisor we can offer the best mortgage deals available anywhere.

FREE VALUATION Our family run business is made up of friendly, professional people who have extensive experience of the housing market. We understand estate agencies come and go, but True Homes Estate Agents has consistently secured high levels of sales throughout.

If you would like to arrange a free no obligation valuation, please contact True Homes Estate Agents 24/7

Agent Details

True Homes Group, Whickham

0191 743 1187

Next Steps?

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