2 Bed Bungalow, Refurb/BRRR, South Shields, NE34 0EL, £319,950

Meldon Avenue, South Shields, NE34 0EL - 4 views - 7 months ago

Leasehold
Refurb/BRRR
~68 m²
+12 photos

ValuationOvervalued

Sold Prices£45.5K - £395K
Sold Prices/m²£781/m² - £4K/m²

 

 

Square Metres

~68.11 m²
Price/m²£4.7K/m²

Value Estimate

£106,250

 

 

End Value (After Refurb)

£323,750

Uplift in Value

+-2%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£79,988

Stamp Duty & Legal Fees

£15,096

Refurb Costs

£26,073

Bridging Loan Interest

£8,399

Total Cash In

£131,305

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£323,750

Mortgage (After Refinance)

£242,813

Mortgage LTV

75%

Cash Released

£2,850

Cash Left In

£128,455

Equity

£80,938

Rent Range

£520 - £2,000

Rent Estimate

£715

Running Costs/mo

£1,175

Cashflow/mo

£-460

Cashflow/yr

£-5,517

Gross Yield

3%

Local Sold Prices

50 sold prices from £45.5K to £395K, average is £153K. £781/m² to £4K/m², average is £1.6K/m².

PriceDateDistanceAddressBeds 
£290K06/230.19 mi27, North Avenue, South Shields, Tyne And Wear NE34 6BB2
£265K12/220.2 mi70, West Avenue, South Shields, Tyne And Wear NE34 6BD2
£200K06/230.25 mi245, Mortimer Road, South Shields, Tyne And Wear NE34 0DP2
£220K08/210.27 mi8, Central Gardens, South Shields, Tyne And Wear NE34 6BA2
£230K06/240.27 mi17, Central Gardens, South Shields, Tyne And Wear NE34 6BA2
£220K01/210.27 mi13, Central Gardens, South Shields, Tyne And Wear NE34 6BA2
£200K09/230.29 mi27, Central Avenue, South Shields, Tyne And Wear NE34 6AY2
£395K10/230.29 mi21, Central Avenue, South Shields, Tyne And Wear NE34 6AY2
£142K01/210.3 mi10, Prince Of Wales Close, South Shields, Tyne And Wear NE34 6QT2
£390K06/240.32 mi30, Central Avenue, South Shields, Tyne And Wear NE34 6AZ2
£242.3K06/230.33 mi8, West Avenue, South Shields, Tyne And Wear NE34 6QU2
£200K09/210.33 mi2, St Marys Avenue, South Shields, Tyne And Wear NE34 6AF2
£45.5K01/210.34 mi9, Hollingside Way, South Shields, Tyne And Wear NE34 0HX2
£90K06/210.39 mi16, Compton Avenue, South Shields, Tyne And Wear NE34 0PZ2
£146K11/210.4 mi99, Harton House Road, South Shields, Tyne And Wear NE34 6EB2
£156K01/230.4 mi99, Harton House Road, South Shields, Tyne And Wear NE34 6EB2
£282.5K07/230.43 mi7, Fairview Avenue, South Shields, Tyne And Wear NE34 6DD2
£94.3K09/210.44 mi39, St Marys Avenue, South Shields, Tyne And Wear NE34 6QA2
£113K08/240.45 mi188, Harton Lane, South Shields, Tyne And Wear NE34 0PN2
£105K08/210.45 mi16, Nora Street, South Shields, Tyne And Wear NE34 0RA2
£75K02/230.5 mi131, Birchington Avenue, South Shields, Tyne And Wear NE33 4SB2
£260K01/240.51 mi51, Lisle Road, South Shields, Tyne And Wear NE34 6DH2
£100K02/240.51 mi124, Birchington Avenue, South Shields, Tyne And Wear NE33 4SA2
£160K07/230.52 mi167, Harton House Road, South Shields, Tyne And Wear NE34 6EA2
£58.5K07/230.53 mi47, Cranford Street, South Shields, Tyne And Wear NE34 0QN2
£50K04/240.53 mi45, Cranford Street, South Shields, Tyne And Wear NE34 0QN2
£164K12/200.53 mi3, St Oswins Street, South Shields, Tyne And Wear NE33 4SE2
£200K02/230.54 mi22, Summerhill Road, South Shields, Tyne And Wear NE34 6DT2
£222.5K06/230.54 mi18, Summerhill Road, South Shields, Tyne And Wear NE34 6DT2
£170K01/210.55 mi26, Warwick Road, South Shields, Tyne And Wear NE33 4TR2
£198.5K09/230.55 mi5, Warwick Road, South Shields, Tyne And Wear NE33 4TR2
£80K05/230.58 mi38, Brownlow Road, South Shields, Tyne And Wear NE34 0QT2
£128K12/230.59 mi12, Broadfield Place, South Shields, Tyne And Wear NE34 0YH2
£82.5K07/240.59 mi42, Oxford Avenue, South Shields, Tyne And Wear NE33 4TP2
£98K06/230.61 mi59, Alverthorpe Street, South Shields, Tyne And Wear NE33 4BJ2
£75K02/210.61 mi72, The High Road, South Shields, Tyne And Wear NE34 6QF2
£149K07/220.62 mi8, Kensington Court, South Shields, Tyne And Wear NE33 3DT2
£125K08/230.62 mi34, Harton Rise, South Shields, Tyne And Wear NE34 6DY2
£160K12/200.62 mi39, Harton Rise, South Shields, Tyne And Wear NE34 6DY2
£98K06/230.64 mi59, Oxford Street, South Shields, Tyne And Wear NE33 4BH2
£159.9K08/210.64 mi1, Horsley Vale, South Shields, Tyne And Wear NE34 6JF2
£60K08/240.65 mi92, Canterbury Street, South Shields, Tyne And Wear NE33 4DD2
£68K12/200.65 mi92, Canterbury Street, South Shields, Tyne And Wear NE33 4DD2
£167K07/240.68 mi33, Highfield Drive, South Shields, Tyne And Wear NE34 6JD2
£115K02/230.68 mi13, Russell Avenue, South Shields, Tyne And Wear NE34 6PN2
£250K12/230.69 mi15, Sunderland Road, South Shields, Tyne And Wear NE33 4UT2
£149.9K09/210.7 mi19, Horsley Vale, South Shields, Tyne And Wear NE34 6JP2
£175K02/230.7 mi60, Highfield Drive, South Shields, Tyne And Wear NE34 6JE2
£68K04/230.72 mi3, Stanhope Road, South Shields, Tyne And Wear NE33 4BD2
£83K12/230.72 mi2, Bewick Street, South Shields, Tyne And Wear NE33 4JU2

Local Rents

18 rents from £520/mo to £2K/mo, average is £638/mo.

RentDateDistanceAddressBeds 
£79505/240.39 miNora Street, South Shields2
£2,00005/240.46 mi-2
£60003/250.49 mi-2
£62506/240.5 miAshley Road, South Shields2
£60012/230.51 mi-2
£69512/240.51 mi-2
£65004/240.52 mi-2
£65006/240.54 miWestcott Road, South Shields2
£52003/240.56 mi-2
£58509/240.57 mi-2
£65006/240.57 miTalbot Road, South Shields, South Tyneside2
£75003/250.58 mi-2
£52002/240.58 mi-2
£55007/240.58 mi-2
£69507/240.6 miOxford Avenue, South Shields2
£67507/240.61 miRedwood Avenue, Cleadon Vale, South Shields, Tyne and Wear, NE34 8DF2
£62505/240.61 miGordon Road, South Shields, Tyne and Wear, NE342
£60011/230.62 mi-2

Local Area Statistics

Population in NE34

52,101

Population in South Shields

79,432

Town centre distance

0.43 miles away

Nearest school

0.40 miles away

Nearest train station

0.88 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+35%

Sales demand

Seller's market

Capital growth (5yrs)

+27%

Property History

Price changed to £319,950

February 16, 2025

Listed for £329,950

September 19, 2024

Description

  • Sought After & Ever Popular Location +
  • Perfect For Those Looking For One Level Living Close To Amenities +
  • Well Regarded Schools Are Within Walking Distance +
  • Property Is Ready For Personalisation & Modernisation +
  • Offering Ample Off Road Parking Via Driveway and Garage +
  • Reference : 432388 +

Situated in the ever popular Meldon Avenue, this true Detached Bungalow is perfect for those seeking single level living and looking to downsize. With well proportioned rooms, it offers a great opportunity for someone to put their own stamp on. Located off Harton Lane, it provides easy access to Harton Village's range of shops, bus links, and amenities, with highly regarded schools nearby.

The layout includes an entrance hallway, spacious lounge, kitchen diner with a convenient utility room, and a bright and airy conservatory accessing the rear garden. There are two bedrooms, both with fitted wardrobes, and a four piece bathroom. Outside, you'll find well maintained front and rear gardens, a driveway, and a garage providing ample parking. Early viewings are highly recommended!
ENTRANCE
Via UPVC door into Hallway.
HALLWAY
Loft access which is bordered for storage.
KITCHEN DINER 4.5m (14'9) x 3.81m (12'6)
Basic range of wall and base units with contrasting worktops, integrated hob, sink unit with mixer tap, part lino to floors, part tiling to walls, double glazed window, door into Utility room and sliding doors into Conservatory.
CONSERVATORY 3.1m (10'2) x 2.84m (9'4)
Double glazed throughout, laminate flooring and door to rear Garden.
UTILITY 3.25m (10'8) x 1.83m (6')
Plumbing for washing machine, Belfast sink, space for tumble dryer, double glazed window, radiator and UPVC door to rear Garden.
LOUNGE
Double glazed window and radiator.
BEDROOM ONE 3.61m (11'10) x 3.58m (11'9)
Double glazed window, radiator and fitted mirrored sliding wardrobes.
BEDROOM TWO 3.89m (12'9) x 2.36m (7'9)
Fitted wardrobes with bedside cabinets with overhead storage, double glazed window and radiator.
BATHROOM
Curved shower cubicle, panelled bath, low flush W.C., wash basin, radiator, tiling to floor, part tiling to walls and double glazed window.
EXTERNALLY
Lawned garden to front. Private lawned garden to rear with patio area.
PARKING
Driveway to front providing off road parking leading to a Garage.
GARAGE
Attached single garage, accessed via up and over garage door.
The Agent Of The North
Andrew Craig is The Agent of the North and as Chartered Surveyors we can help you with all your Residential and Commercial property needs. Sales, Conveyancing, Lettings, Property Management, Surveys and Valuations. Call now on
Material Information
The information provided about this property does not constitute or form part of an offer or contract, nor may it be regarded as representations. All interested parties must verify accuracy and your solicitor must verify tenure and lease information, fixtures and fittings and, where the property has been recently constructed, extended or converted, that planning/building regulation consents are in place. All dimensions are approximate and quoted for guidance only, as are floor plans which are not to scale and their accuracy cannot be confirmed. Reference to appliances and/or services does not imply that they are necessarily in working order or fit for purpose. We offer our clients an optional conveyancing service, through panel conveyancing firms, via Move With Us and we receive on average a referral fee of one hundred and ninety four pounds, only on completion of the sale. If you do use this service, the referral fee is included within the amount that you will be quoted by our suppliers. All quotes will also provide details of referral fees payable.
Tenure
We will provide as much information about tenure as we are able to and in the case of leasehold properties, we can in most cases provide a copy of the lease. They can be complex and buyers are advised to take legal advice upon the full terms of a lease. Where a lease is not readily available we will apply for a copy and this can take time.
Money Laundering Regulations
Please note that any offers will require you to be financially verified, meaning you'll need to provide us sight of a mortgage in principle, proof of deposit funds, and proof of cash. You'll also need to provide us with full chain details including agents and solicitors down the chain. To comply with Money Laundering Regulations all buyers will be required to provide us with proof of identification before we can issue acceptance letters and solicitors are instructed.

EPC Rating: D
Broadband & Mobile Coverage
The Ofcom website states the average broadband download speed of 8 Mbps and a maximum download speed of 1000 Mbps at this postcode: NE34 0EL and mobile coverage is provided by EE, Three, O2 and Vodafone. The checker results are predictions and should not be regarded as guaranteed.
Council Tax
The GOV.UK website states the property is Council Tax Band: D

Agent Details

Andrew Craig, South Shields

0191 625 0766

Next Steps?

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