2 Bed Flat, Single Let, Washington, NE38 0JE, £62,700

Dunstanburgh Close, Washington, NE38 0JE - 7 months ago

Leasehold

BTL

ROI: 16%

~68 m²

+4 photos

ValuationUndervalued

Sold Prices	£40K - £275K
Sold Prices/m²	£515/m² - £24.2K/m²

Square Metres	~68.11 m²
Price/m²	£921/m²
Value Estimate	£76,451£76,451
BMV	22%

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£15,675£15,675
Stamp Duty & Legal Fees	£4,335£4,335
Total Cash In	£20,010£20,010

Cash Out
Rent Range	£595 - £2,200£595 - £2,200
Rent Estimate	£600
Running Costs/mo	£336£336
Cashflow/mo	£264£264
Cashflow/yr	£3,169£3,169
ROI	16%16%
Gross Yield	11%11%

Local Sold Prices

37 sold prices from £40K to £275K, average is £70K. £515/m² to £24.2K/m², average is £1.1K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£55K	06/22	0 mi	8, Dunstanburgh Close, Washington, Tyne And Wear NE38 0JE	£1,122	49	2	Flat
£55K	10/22	0.06 mi	13, Witton Court, Washington, Tyne And Wear NE38 0JH	-	-	2	Flat
£40K	12/20	0.06 mi	15, Witton Court, Washington, Tyne And Wear NE38 0JH	£653	61	2	Flat
£60K	01/23	0.11 mi	9, Lumley Close, Washington, Tyne And Wear NE38 0HX	£984	61	2	Flat
£52.5K	08/22	0.11 mi	116, Lumley Close, Washington, Tyne And Wear NE38 0HZ	£833	63	2	Flat
£70K	06/23	0.11 mi	131, Lumley Close, Washington, Tyne And Wear NE38 0HZ	-	-	2	Flat
£50K	08/22	0.12 mi	48, Warkworth Close, Washington, Tyne And Wear NE38 0JN	£833	60	2	Flat
£72.5K	07/23	0.15 mi	89, Dilston Close, Washington, Tyne And Wear NE38 0HE	-	-	2	Flat
£85K	06/23	0.15 mi	87, Dilston Close, Washington, Tyne And Wear NE38 0HE	£1,735	49	2	Flat
£52K	08/23	0.18 mi	98, Bamburgh Close, Washington, Tyne And Wear NE38 0HR	£867	60	2	Flat
£80.5K	10/22	0.51 mi	6, Drumaldrace, Washington, Tyne And Wear NE37 1SR	-	-	2	Flat
£63.1K	11/20	0.54 mi	3, Drumaldrace, Washington, Tyne And Wear NE37 1SR	£1,539	41	2	Flat
£72.5K	02/23	0.54 mi	24, Drumaldrace, Washington, Tyne And Wear NE37 1SR	£24,167	3	2	Flat
£85K	09/23	0.55 mi	55, Grizedale, Washington, Tyne And Wear NE37 1TZ	£1,667	51	2	Flat
£43K	04/21	0.56 mi	49, Newstead Court, Washington, Tyne And Wear NE38 7PF	£729	59	2	Flat
£59.5K	02/21	0.58 mi	8, Lingmell, Washington, Tyne And Wear NE37 1TN	£1,102	54	2	Flat
£50K	11/22	0.6 mi	1, Lingmell, Washington, Tyne And Wear NE37 1TN	-	-	2	Flat
£97.5K	08/22	0.62 mi	14, Burtree, Washington, Tyne And Wear NE38 0RA	£1,950	50	2	Flat
£80K	11/22	0.62 mi	34, Mickley Close, Willington Quay, Wallsend, Tyne And Wear NE28 6JJ	£941	85	2	Flat
£75K	07/23	0.65 mi	40, Pendle Close, Washington, Tyne And Wear NE38 0PZ	£1,271	59	2	Flat
£71K	10/21	0.66 mi	2, Teal Close, Washington, Tyne And Wear NE38 0EA	£1,065	67	2	Flat
£79.5K	07/22	0.66 mi	64, Lingmell, Washington, Tyne And Wear NE37 1TT	-	-	2	Flat
£70K	08/23	0.69 mi	34, Westernmoor, Washington, Tyne And Wear NE37 1LP	£1,129	62	2	Flat
£70K	06/21	0.69 mi	19, Biddick Village Centre, Washington, Tyne And Wear NE38 7NP	£1,167	60	2	Flat
£82K	03/23	0.69 mi	35, Biddick Village Centre, Washington, Tyne And Wear NE38 7NP	-	-	2	Flat
£60K	09/22	0.69 mi	23, Pendle Close, Washington, Tyne And Wear NE38 0PZ	£1,250	48	2	Flat
£40K	06/23	0.72 mi	14, Mardale, Washington, Tyne And Wear NE37 1TH	-	-	2	Flat
£75K	08/22	0.72 mi	11, Sandpiper Close, Washington, Tyne And Wear NE38 0EG	£1,210	62	2	Flat
£90K	07/22	0.73 mi	29, Chacombe, Washington, Tyne And Wear NE38 7HB	£2,143	42	2	Flat
£96.5K	07/23	0.73 mi	31, Chacombe, Washington, Tyne And Wear NE38 7HB	£1,915	50	2	Flat
£74K	04/23	0.77 mi	8, Fell Close, Washington, Tyne And Wear NE37 1AX	-	-	2	Flat
£62K	05/23	0.9 mi	10, Brackenway, Washington, Tyne And Wear NE37 1AW	£1,550	40	2	Flat
£60K	09/22	0.91 mi	8, Brackenway, Washington, Tyne And Wear NE37 1AW	£1,071	56	2	Flat
£67.5K	03/21	0.92 mi	5, Musgrave Terrace, Washington, Tyne And Wear NE38 7HR	£1,071	63	2	Flat
£275K	12/20	0.92 mi	20, Liberty Green, Washington, Tyne And Wear NE38 7UA	£1,884	146	2	Flat
£72K	09/22	0.95 mi	17, Emmerson Terrace, Washington, Tyne And Wear NE38 7LN	£515	140	2	Flat
£67.5K	03/21	0.96 mi	5, Musgrave Terrace, Washington, Tyne And Wear NE38 7HR	£1,071	63	2	Flat

Local Rents

15 rents from £595/mo to £2.2K/mo, average is £675/mo.

Rent	Date	Distance	Address	Beds	Type
£2,200	06/24	0.04 mi	-	2	Flat
£2,200	06/24	0.04 mi	-	2	Flat
£2,200	02/25	0.04 mi	-	2	Flat
£2,200	03/25	0.04 mi	-	2	Flat
£595	12/24	0.08 mi	Lumley Close, Washington, Tyne and Wear, NE38 0HX	2	Flat
£600	12/24	0.18 mi	Mitford Close, Oxclose, Washington, NE38	2	Flat
£595	12/24	0.22 mi	-	2	Flat
£625	03/25	0.23 mi	-	2	Flat
£650	07/24	0.35 mi	62 Stridingedge	2	Bungalow
£760	04/25	0.4 mi	-	2	Semi-Detached House
£795	11/24	0.51 mi	-	2	Semi-Detached House
£700	12/24	0.53 mi	Helvellyn Avenue, Lambton	2	House
£625	03/25	0.54 mi	-	2	Flat
£675	09/24	0.6 mi	-	2	Terraced House
£625	05/24	0.6 mi	-	2	Flat

Local Area Statistics

Population in NE38	31,23231,232
Population in Washington	52,26452,264
Town centre distance	0.78 miles away0.78 miles away
Nearest school	0.10 miles away0.10 miles away
Nearest train station	3.32 miles away3.32 miles away

Rental growth (12m)	+35%+35%
Sales demand	Seller's marketSeller's market
Capital growth (5yrs)	+7%+7%

Property History

Price changed to £62,700

January 31, 2025

Listed for £65,000

September 24, 2024

Floor Plans

Description

NO UPPER CHAIN +
IDEAL OPPORTUNITY FOR INVESTMENT OR FTB +
TWO BEDROOM GROUND FLOOR FLAT +
SPACIOUS LOUNGE +
KITCHEN +
BATHROOM +
NEWLY FITTED COMBI BOILER +
ENCLOSED PRIVATE GARDEN +
REFITTED FRONT DOOR +
IDEAL CENTRAL LOCATION +

Swift Moves AWARD WINNING Estate Agents welcome for sale this two-bedroom ground floor flat currently tenanted and achieving a monthly rental of £600pcm. The accommodation offers a generous size layout which briefly comprises of: hallway which includes a newly fitted door to front and a utility cupboard, good size lounge, kitchen which is fitted with a range of modern units, two bedrooms and a bathroom/wc which includes a white three piece suite. The property is heated via a newly fitted gas central heating system combi Baxi boiler. Externally this property boasts enclosed garden laid mainly to lawn.The flat is situated in the popular area of Oxclose. With excellent access to Washington Town Centre, commuting routes to both Sunderland, Newcastle and local amenities. There are a good range of schools for all ages a short walk away. Call to arrange your viewing.NO UPPER CHAIN

Agent Details

Swift Moves, Washington

0191 625 0866

Next Steps?

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