2 Bed Bungalow, Refurb/BRRR, Newcastle upon Tyne, NE16 4LH, £130,000

West Thorns Walk, Whickham, Newcastle upon Tyne, Tyne and Wear, NE16 4LH - 2 views - 6 months ago

Sold STC

Auction

Refurb/BRRR

~68 m²

+4 photos

ValuationFair Value

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Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£32,500£32,500
Stamp Duty & Legal Fees	£5,100£5,100
Refurb Costs	£26,073£26,073
Bridging Loan Interest	£3,413£3,413
Total Cash In	£68,835£68,835

Cash Out
Monetisation	FlipRefinance & RentFlip
Estimated Sale Price	£196,477£196,477
Agent Fees (1%)	£1,965£1,965
Bridging Loan	£97,500£97,500
Bridging Loan Interest	£3,413£3,413
Flip Profit	£28,177£28,177

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Local Rents

13 rents from £600/mo to £950/mo, average is £750/mo.

Rent	Date	Distance	Address	Beds	Type
£750	06/24	0.2 mi	Whaggs Lane, Whickham, Newcastle Upon Tyne, NE16	2	Flat
£600	05/24	0.28 mi	West Street, Whickham, Newcastle upon Tyne, Tyne and wear, NE16 4AN	2	Flat
£750	08/24	0.31 mi	-	2	Flat
£750	07/24	0.34 mi	Bullfinch Drive, Whickham	2	Flat
£750	05/24	0.34 mi	The Hermitage, Whickham Front Street, NE16	2	Flat
£800	06/24	0.34 mi	The Hermitage, Whickham Front Street, NE16	2	Flat
£750	07/24	0.35 mi	Marston Walk, Whickham	2	Flat
£850	06/24	0.37 mi	Hawksbury, Whickham, NE16	2	Terraced House
£950	03/25	0.39 mi	-	2	Semi-Detached House
£650	06/24	0.46 mi	Fellside Mews, Whickham, Newcastle Upon Tyne	2	Flat
£775	01/25	0.55 mi	-	2	Flat
£695	03/25	0.55 mi	-	2	Flat
£850	11/24	0.6 mi	-	2	Flat

Local Area Statistics

Population in NE16	25,63725,637
Population in Newcastle upon Tyne	381,037381,037
Town centre distance	4.78 miles away4.78 miles away
Nearest school	0.10 miles away0.10 miles away
Nearest train station	1.45 miles away1.45 miles away

Rental demand	Tenant's marketTenant's market
Rental growth (12m)	-3%-3%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+33%+33%

Property History

Listed for £130,000

September 21, 2024

Description

Two Bedrooms +
Bungalow +
Close To Amenities +
No Upper Chain +

To be sold via Online Auction. Fees apply.

We are delighted to offer this two bedroom semi-detached bungalow situated in popular area of Whickham close to local amenities and excellent transport links.

The accommodation briefly comprises: Entrance hallway, lounge, kitchen, Bathroom and two bedrooms.
The property benefits from gas central heating, double glazed windows, and a rear garden.
Externally there is a rear garden great for outdoor activities.

The property is in need of some updating however would be an ideal blank canvas ready for your property visions.
Call us today to arrange a viewing !

Council Tax Band: B
Tenure: Freehold

Agent Details

Pattinson Estate Agents, Whickham

0191 607 1630

Next Steps?

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

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