2 Bed Flat, Single Let, Newcastle upon Tyne, NE6 2TQ, £50,000

53 Irthing Avenue, Newcastle Upon Tyne, NE6 2TQ - 7 months ago

Sold STC
Leasehold
BTL
ROI: 21%
59 m²
+2 photos

ValuationUndervalued

Sold Prices£36K - £245K
Sold Prices/m²£617/m² - £3K/m²

 

 

Square Metres

59 m²
Price/m²£847/m²

Value Estimate

£60,000
BMV20%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£12,500

Stamp Duty & Legal Fees

£2,700

Total Cash In

£15,200

 

 

Cash Out

 

Rent Range

£550 - £3,500

Rent Estimate

£550

Running Costs/mo

£286

Cashflow/mo

£264

Cashflow/yr

£3,165

ROI

21%

Gross Yield

13%

Local Sold Prices

50 sold prices from £36K to £245K, average is £83.7K. £617/m² to £3K/m², average is £1.4K/m².

PriceDateDistanceAddressBeds 
£54.5K06/230.03 mi149, Allendale Road, Newcastle Upon Tyne, Tyne And Wear NE6 2SY2
£60K05/230.03 mi47, Chatsworth Gardens, St Anthonys, Newcastle Upon Tyne, Tyne And Wear NE6 2TN2
£55K09/210.1 mi103, Allendale Road, Newcastle Upon Tyne, Tyne And Wear NE6 2SX2
£58K08/230.13 mi5, Relton Avenue, Newcastle Upon Tyne, Tyne And Wear NE6 2TH2
£129K03/230.2 mi38, The Ropery, Newcastle Upon Tyne, Tyne And Wear NE6 1TY2
£77K02/210.21 mi14, The Oval, Walker, Newcastle Upon Tyne, Tyne And Wear NE6 3LH2
£65K12/230.26 mi249, Ayton Street, Newcastle Upon Tyne, Tyne And Wear NE6 2DD2
£115K12/220.3 mi47, Foundry Court, Newcastle Upon Tyne, Tyne And Wear NE6 1UG2
£186K10/230.3 mi35, St Peters Wharf, Newcastle Upon Tyne, Tyne And Wear NE6 1TW2
£85.8K06/230.3 mi45, Foundry Court, Newcastle Upon Tyne, Tyne And Wear NE6 1UG2
£95K11/220.3 mi26, Foundry Court, Newcastle Upon Tyne, Tyne And Wear NE6 1UG2
£245K12/210.32 mi7, Chandlers Quay, Newcastle Upon Tyne, Tyne And Wear NE6 1UQ2
£240K04/230.32 mi8, Chandlers Quay, Newcastle Upon Tyne, Tyne And Wear NE6 1UQ2
£62K10/200.34 mi215, Commercial Road, Byker, Newcastle Upon Tyne, Tyne And Wear NE6 2ED2
£127.2K09/210.38 mi43, Rowes Mews, Newcastle Upon Tyne, Tyne And Wear NE6 1TX2
£90.5K11/210.38 mi14, Rowes Mews, Newcastle Upon Tyne, Tyne And Wear NE6 1TX2
£138K11/220.38 mi38, Rowes Mews, Newcastle Upon Tyne, Tyne And Wear NE6 1TX2
£130K07/230.38 mi10, Rowes Mews, Newcastle Upon Tyne, Tyne And Wear NE6 1TX2
£145K06/230.38 mi39, Rowes Mews, Newcastle Upon Tyne, Tyne And Wear NE6 1TX2
£156K10/230.38 mi37, Rowes Mews, Newcastle Upon Tyne, Tyne And Wear NE6 1TX2
£57.5K01/230.45 mi2a, Dunmorlie Street, Newcastle Upon Tyne, Tyne And Wear NE6 2JL2
£40.8K01/210.45 mi3, Dunmorlie Street, Newcastle Upon Tyne, Tyne And Wear NE6 2JL2
£45.8K01/210.46 mi115, Clydesdale Road, Newcastle Upon Tyne, Tyne And Wear NE6 2EQ2
£54K12/200.46 mi64, Gillies Street, Newcastle Upon Tyne, Tyne And Wear NE6 2JP2
£55.2K11/230.49 mi5, Cullercoats Street, Newcastle Upon Tyne, Tyne And Wear NE6 2JA2
£50K03/210.51 mi34, Emily Street, Newcastle Upon Tyne, Tyne And Wear NE6 2QY2
£45K11/220.56 mi299, Benson Road, Newcastle Upon Tyne, Tyne And Wear NE6 2SE2
£50K03/210.58 mi221, Scarborough Road, Newcastle Upon Tyne, Tyne And Wear NE6 2RX2
£36K02/210.59 mi327, Benson Road, Newcastle Upon Tyne, Tyne And Wear NE6 2SH2
£41.8K05/210.59 mi365, Benson Road, Newcastle Upon Tyne, Tyne And Wear NE6 2SH2
£40K12/200.59 mi332, Grace Street, Newcastle Upon Tyne, Tyne And Wear NE6 2RP2
£81.5K11/200.76 mi97, Walker Road, Newcastle Upon Tyne, Tyne And Wear NE6 1RL2
£100K07/230.77 mi94, Fossway, Newcastle Upon Tyne, Tyne And Wear NE6 4QZ2
£92.5K08/210.8 mi109, Albion Row, Newcastle Upon Tyne, Tyne And Wear NE6 1LR2
£53K05/210.84 mi11, Kingsmere Gardens, Newcastle Upon Tyne, Tyne And Wear NE6 3NP2
£36K12/200.84 mi51, Kingsmere Gardens, Newcastle Upon Tyne, Tyne And Wear NE6 3NP2
£53K05/210.84 mi30, Kingsmere Gardens, Newcastle Upon Tyne, Tyne And Wear NE6 3NP2
£97K03/230.88 mi201, Redgrave Close, Gateshead, Tyne And Wear NE8 3JT2
£92K09/230.88 mi119, Redgrave Close, Gateshead, Tyne And Wear NE8 3JT2
£75K11/200.88 mi179, Redgrave Close, Gateshead, Tyne And Wear NE8 3JT2
£93K08/210.88 mi131, Redgrave Close, Gateshead, Tyne And Wear NE8 3JT2
£80K11/200.88 mi151, Redgrave Close, Gateshead, Tyne And Wear NE8 3JT2
£93K05/230.89 mi20, Denmark Court, Newcastle Upon Tyne, Tyne And Wear NE6 2UG2
£93K07/210.95 mi92, Redgrave Close, Gateshead, Tyne And Wear NE8 3JE2
£95K10/200.95 mi36, Redgrave Close, Gateshead, Tyne And Wear NE8 3JE2
£90K07/240.95 mi8, Redgrave Close, Gateshead, Tyne And Wear NE8 3JE2
£100K03/230.95 mi30, Redgrave Close, Gateshead, Tyne And Wear NE8 3JE2
£93.5K06/230.96 mi89, Foster Drive, Gateshead, Tyne And Wear NE8 3JA2
£80K09/210.96 mi5, Foster Drive, Gateshead, Tyne And Wear NE8 3JA2
£97.5K03/210.96 mi101, Redgrave Close, Gateshead, Tyne And Wear NE8 3JD2

Local Rents

41 rents from £550/mo to £3.5K/mo, average is £800/mo.

RentDateDistanceAddressBeds 
£80001/250.02 mi-2
£57506/240.05 miChatsworth Gardens, St. Anthonys, Newcastle Upon Tyne, NE62
£57506/240.05 mi-2
£85011/240.07 mi-2
£3,50003/250.13 mi-2
£89506/240.19 mi-2
£82505/240.19 miThe Ropery, St Peter's Basin, Newcastle Upon Tyne, Tyne and Wear, NE62
£82507/240.19 miThe Ropery, Newcastle Upon Tyne, NE62
£82507/240.19 miThe Ropery, St Peter's Basin, Newcastle Upon Tyne, Tyne and Wear, NE62
£95005/240.2 miThe Ropery, St Peter's Basin, Newcastle upon Tyne2
£78006/240.21 mi-2
£1,40008/240.25 mi-2
£1,39902/250.25 mi-2
£80005/240.25 miLamerton Avenue, Newcastle Upon Tyne, NE6 3LF2
£94510/240.25 mi-2
£89503/250.25 mi-2
£80007/240.3 miFoundry Court, St Peters Basin, Newcastle, NE62
£80007/240.3 miFoundry Court, St. Peters Basin, NE62
£90006/240.33 miFriars Wharf Apts, Gateshead2
£80007/240.33 miFriars Wharf, Gateshead2
£1,15006/240.33 mi-2
£90006/240.33 miFriars Wharf, Green Lane, Gateshead, Tyne and Wear, NE102
£89501/250.34 mi-2
£1,00006/240.34 miFriars Wharf, Gateshead, NE102
£87507/240.34 miFriars Wharf, Green Lane, Gateshead2
£95007/240.34 miGreen Lane, Gateshead2
£92507/240.38 miRowes Mews, Newcastle Upon Tyne, Tyne and Wear, NE6 1TX2
£80006/240.41 miRowes Mews, St. Peters Basin, Newcastle upon Tyne, Tyne and Wear2
£55006/240.42 miCanterbury Street, Newcastle Upon Tyne, NE62
£55007/240.42 mi-2
£55006/240.47 miClydesdale Road, Newcastle Upon Tyne2
£72505/240.47 miWelbeck Mews, Walker, NE62
£70006/240.5 miHarriet Street, Byker, Newcastle Upon Tyne2
£70007/240.5 miHarriet Street, Byker, Newcastle Upon Tyne2
£59005/240.55 miBenson Road, Newcastle Upon Tyne, NE62
£61512/240.56 mi-2
£65006/240.57 miGrace Street, Walker, Newcastle upon Tyne, Tyne and Wear, NE6 2RP2
£62510/240.57 mi-2
£62502/250.59 mi-2
£69502/250.6 mi-2
£60005/240.61 mi-2

Local Area Statistics

Population in NE6

50,441

Population in Newcastle upon Tyne

381,037

Town centre distance

4.61 miles away

Nearest school

0.20 miles away

Nearest train station

0.67 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+23%

Sales demand

Seller's market

Capital growth (5yrs)

+31%

Property History

Price changed to £50,000

January 15, 2025

Listed for £55,000

August 19, 2024

Floor Plans

Description

  • Guide Price £50,000 - £60,000 +
  • Ground Floor Flat +
  • Two Bedrooms +
  • Chain Free +
  • Close To Local Amenities +
  • 999 Year Lease From 01/12/2004 +
  • Council Tax Band A +
  • Energy Rating C +

THIS PROPERTY IS NOW "SALE AGREED" AND THERE ARE TO BE NO FURTHER VIEWINGS - WE WOULD LOVE TO HEAR FROM YOU IF YOU HAVE A PROPERTY TO SELL AND WANT ONE OF OUR "GONE" BOARDS TOO! PLEASE GET IN TOUCH

GUIDE PRICE £50,000 - £60,000

TWO BEDROOM GROUND FLOOR FLAT CHAIN FREE IDEAL FIRST BUY/ INVESTMENT CLOSE TO LOCAL AMENITIES ROAD LINKS TO NEWCASTLE CITY CENTRE LOUNGE - KITCHEN- SHOWER ROOM TWO BEDROOMS SHARED YARD TO REAR COUNCIL TAX BAND A ENERGY RATING C SELECTIVE LICENSING AREA THE PROPERTY WILL HAVE 999 YEAR LEASE DATED FROM 01/12/2004 **

Hallway - Double glazed entrance door, laminate flooring, storage cupboard, radiator.

Lounge - 4.02 x 3.85 (13'2" x 12'7") - Double glazed window, laminate flooring, radiator.

Kitchen - 3.38 max x 2.26 (11'1" max x 7'4") - Fitted with wall and base units with work surfaces over, sink unit, radiator and Upvc external door to the rear.

Shower Room - 2.26 max 1.44 max (7'4" max 4'8" max) - Shower cubicle, WC and wash hand basin. Double glazed window, tiling to walls, ladder style radiator.

Bedroom 1 - 4.08 x 3.81 (13'4" x 12'5") - Double glazed window, radiator.

Bedroom 2 - Double glazed window, radiator.

External - Externally there is a shared area to the rear.

Broadband -

Lease Information - The property is in the process of having a lease created this will be a 999 year lease from 01/12/2004 with no ground rent.

Agent Details

next2buy, Wallsend

0191 625 0941

Next Steps?

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