3 Bed Flat, Refurb/BRRR, South Shields, NE33 5PU, £64,995

Eglesfield Road, South Shields, NE33 5PU - 8 views - 7 months ago

Sold STC
Refurb/BRRR
ROI: 11%
~93 m²
+11 photos

ValuationFair Value

Sold Prices£35K - £123K
Sold Prices/m²£479/m² - £1.4K/m²

 

 

Square Metres

~93 m²
Price/m²£699/m²

Value Estimate

£64,995

 

 

End Value (After Refurb)

£95,575

Uplift in Value

+47%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£16,249

Stamp Duty & Legal Fees

£3,150

Refurb Costs

£35,501

Bridging Loan Interest

£1,706

Total Cash In

£58,356

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£95,575

Mortgage (After Refinance)

£71,681

Mortgage LTV

75%

Cash Released

£22,935

Cash Left In

£35,421

Equity

£23,894

Rent Range

£550 - £3,500

Rent Estimate

£1,040

Running Costs/mo

£527

Cashflow/mo

£513

Cashflow/yr

£6,160

ROI

11%

Gross Yield

19%

Local Sold Prices

44 sold prices from £35K to £123K, average is £73K. £479/m² to £1.4K/m², average is £942/m².

PriceDateDistanceAddressBeds 
£40K12/200.06 mi150, Eglesfield Road, South Shields, Tyne And Wear NE33 5PX3
£60K06/210.08 mi21, Marshall Wallis Road, South Shields, Tyne And Wear NE33 5PD3
£95K05/230.16 mi1, Garrick Street, South Shields, Tyne And Wear NE33 4JT3
£80K08/230.17 mi79, Bewick Street, South Shields, Tyne And Wear NE33 4JU3
£56K12/200.18 mi92, Collingwood Street, South Shields, Tyne And Wear NE33 4JY3
£60K01/210.2 mi24, Northcote Street, South Shields, Tyne And Wear NE33 4BY3
£87.5K07/230.21 mi18, Armstrong Terrace, South Shields, Tyne And Wear NE33 4LE3
£65K12/200.25 mi48, Marlborough Street North, South Shields, Tyne And Wear NE33 4DA3
£47K09/210.28 mi19, Canterbury Street, South Shields, Tyne And Wear NE33 4DQ3
£35K02/230.31 mi440, John Williamson Street, South Shields, Tyne And Wear NE33 5HW3
£92K09/230.34 mi115, Canterbury Street, South Shields, Tyne And Wear NE33 4DD3
£65K10/230.35 mi186, Western Approach, South Shields, Tyne And Wear NE33 5DP3
£55K08/230.36 mi124, Mortimer Road, South Shields, Tyne And Wear NE33 4UQ3
£88K07/210.39 mi9, Oxford Avenue, South Shields, Tyne And Wear NE33 4TW3
£82K06/210.4 mi157, Imeary Street, South Shields, Tyne And Wear NE33 4ES3
£112K09/230.4 mi96, Birchington Avenue, South Shields, Tyne And Wear NE33 4SA3
£88K11/200.4 mi96, Birchington Avenue, South Shields, Tyne And Wear NE33 4SA3
£105K03/230.44 mi140, Westoe Road, South Shields, Tyne And Wear NE33 3PF3
£58K04/230.54 mi7, Whitehall Street, South Shields, Tyne And Wear NE33 4SU3
£65.5K09/210.55 mi3, Whitehead Street, South Shields, Tyne And Wear NE33 5LZ3
£72.5K08/220.57 mi46, Richmond Road, South Shields, Tyne And Wear NE34 0QL3
£82.5K11/210.57 mi22, Readhead Avenue, South Shields, Tyne And Wear NE33 3AW3
£55K03/210.57 mi22, Readhead Avenue, South Shields, Tyne And Wear NE33 3AW3
£123K06/230.58 mi12, St Vincent Street, South Shields, Tyne And Wear NE33 3AR3
£73K01/210.63 mi10, Ashley Road, South Shields, Tyne And Wear NE34 0PD3
£83K02/210.66 mi99, St Vincent Street, South Shields, Tyne And Wear NE33 3AS3
£75K08/210.67 mi40, Coleridge Avenue, South Shields, Tyne And Wear NE33 3HA3
£90K01/210.68 mi48, Crofton Street, South Shields, Tyne And Wear NE34 0QP3
£70K02/210.69 mi1, Candlish Street, South Shields, Tyne And Wear NE33 3JW3
£60K02/230.7 mi82, Gordon Road, South Shields, Tyne And Wear NE34 0QR3
£90K08/230.71 mi63, Osborne Avenue, South Shields, Tyne And Wear NE33 3BX3
£57K12/200.72 mi45, Lyndhurst Street, South Shields, Tyne And Wear NE33 2TA3
£65K12/220.73 mi59, Brownlow Road, South Shields, Tyne And Wear NE34 0QT3
£49.7K01/210.75 mi123, Talbot Road, South Shields, Tyne And Wear NE34 0RG3
£90K12/210.77 mi252, St Vincent Street, South Shields, Tyne And Wear NE33 3BH3
£75K01/210.81 mi32, Erskine Road, South Shields, Tyne And Wear NE33 2TH3
£80K11/210.81 mi49, Alnwick Road, South Shields, Tyne And Wear NE34 0LB3
£75K01/210.84 mi47, Boldon Lane, South Shields, Tyne And Wear NE34 0AR3
£41K01/210.85 mi92, Nora Street, South Shields, Tyne And Wear NE34 0RB3
£58K10/200.85 mi18, Eccleston Road, South Shields, Tyne And Wear NE33 3BS3
£73K04/210.86 mi85, Egerton Road, South Shields, Tyne And Wear NE34 0RD3
£80K09/220.86 mi83, Egerton Road, South Shields, Tyne And Wear NE34 0RD3
£63K02/230.89 mi22, Hatfield Square, South Shields, Tyne And Wear NE33 2RD3
£90K08/210.93 mi11, Tadema Road, South Shields, Tyne And Wear NE33 3BG3

Local Rents

25 rents from £550/mo to £3.5K/mo, average is £775/mo.

RentDateDistanceAddressBeds 
£65005/240.07 mi-3
£2,00005/240.1 mi-3
£2,00007/240.1 mi-3
£87512/240.11 mi-3
£75005/240.14 mi-3
£60005/240.14 mi-3
£72003/240.15 miGordon Street, South Shields, Tyne And Wear, NE333
£69512/240.17 miRavensworth Terrace, South Shields3
£59502/250.17 mi-3
£1,80006/240.23 mi-3
£1,50012/240.23 mi-3
£79505/240.28 mi-3
£90006/240.3 miPalace Close South Shields3
£59005/240.3 miJohn Williamson Street, South Shields, Tyne And Wear, NE333
£99905/240.36 miLaygate, South Shields, Tyne and Wear, NE333
£3,50003/250.4 mi-3
£1,80005/240.4 mi-3
£1,80004/240.4 mi-3
£66503/250.46 mi-3
£55009/230.5 mi-3
£77506/240.51 miRobert Street, South Shields3
£72505/240.52 mi-3
£57505/240.53 mi-3
£85012/240.53 mi-3
£65004/250.55 mi-3

Local Area Statistics

Population in NE33

27,262

Population in South Shields

79,432

Town centre distance

0.51 miles away

Nearest school

0.20 miles away

Nearest train station

0.37 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+19%

Sales demand

Seller's market

Capital growth (5yrs)

+8%

Property History

Listed for £64,995

September 13, 2024

Description

  • Investors Dream +
  • Perfect For First Time Buyers +
  • 3 Bed Spacious Upper Flat +
  • Close To Lidl Food Store +
  • Close To Transport Links Such As Chichester Metro +
  • Central To South Shields +
  • Close To Local Amenities +
  • Galley Style Kitchen +

Located on the desirable Eglesfield Road, this 3-bedroom upper flat offers both convenience and potential, making it an ideal choice for investors or those looking for a small renovation project. The property is situated within close proximity to a range of local amenities, including the nearby Lidl food store, making everyday shopping a breeze. Additionally, South Shields town centre is just a 10-minute drive away, offering easy access to a wide array of shops, restaurants, and entertainment options.

Key Features:

Prime Location: Situated near Lidl and other local amenities, with great transport links into South Shields town centre.

Investment Opportunity: With a solid rental history of 5+ years under the current vendor, this property is a great investment opportunity, providing steady income potential.

Renovation Potential: Perfect for those looking for a manageable project. One of the three bedrooms is adjacent to the living area, providing the option to knock through and create a larger, open-plan living space, and transform the flat into a more spacious 2-bedroom property.

Interior Layout:

Living Area: The current living area is bright and spacious, with the possibility of expansion by incorporating the adjacent bedroom.

Kitchen: The modern kitchen features a clean, sleek design with white wall and base units, complemented by a matching white backsplash. The space offers ample counter space, making it functional for cooking and storage. Additionally, the boiler is new, providing efficient heating and hot water throughout the home.

Bedrooms: All three bedrooms are generously sized, providing comfortable living quarters for tenants or homeowners alike. The cream cladding walls make it super easy to keep maintained.

Bathroom: The bathroom is a fairly good size and currently is home to the bath, over head shower, basin and WC.

This property is a fantastic opportunity for any buyer looking to invest or create a personalized living space through light renovation. With its modern kitchen, new boiler, and flexible layout, it offers both immediate rental potential and room for improvement.

Some images have been digitally enhanced to show inspiration for interior.

Property Type: Upper Flat Tenure: Property Construction: Bricks Parking: Street Broadband Speed: Basic 15Mbps, Superfast 76Mbps, Ultrafast 1000Mbps. Mobile Phone Strength: EE, Vodafone, 3 and O2. Satellite: BT, Virgin and Sky Council Tax Band: A (£1465) Floor Area: 871 ft 2 / 81 m 2

Flood Risk: No risk Cladding Issues: None Planning Consents: None Accessibility Adaptations: None Covenants: None Restrictions: None

The above information serves as a guide for prospective buyers interested in the property, providing information based on the seller's knowledge.

Agent Details

Browns Estate Agents, South Shields

0191 406 3441

Next Steps?

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