2 Bed Flat, Single Let, Washington, NE38 0JN, £59,000

Warkworth Close, Oxclose, Washington, NE38 0JN - 7 months ago

Leasehold

BTL

ROI: 14%

~68 m²

+2 photos

ValuationUndervalued

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

Square Metres	~68.11 m²
Price/m²	£866/m²
Value Estimate	£73,750£73,750
BMV	25%

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£14,750£14,750
Stamp Duty & Legal Fees	£4,150£4,150
Total Cash In	£18,900£18,900

Cash Out
Rent Range	£595 - £2,200£595 - £2,200
Rent Estimate	£525
Running Costs/mo	£309£309
Cashflow/mo	£216£216
Cashflow/yr	£2,588£2,588
ROI	14%14%
Gross Yield	11%11%

Local Sold Prices

40 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
£50K	08/22	0 mi	48, Warkworth Close, Washington, Tyne And Wear NE38 0JN	£833	60	2	Flat
£55K	10/22	0.1 mi	13, Witton Court, Washington, Tyne And Wear NE38 0JH	-	-	2	Flat
£40K	12/20	0.1 mi	15, Witton Court, Washington, Tyne And Wear NE38 0JH	£653	61	2	Flat
£55K	06/22	0.12 mi	8, Dunstanburgh Close, Washington, Tyne And Wear NE38 0JE	£1,122	49	2	Flat
£72.5K	07/23	0.17 mi	89, Dilston Close, Washington, Tyne And Wear NE38 0HE	-	-	2	Flat
£85K	06/23	0.17 mi	87, Dilston Close, Washington, Tyne And Wear NE38 0HE	£1,735	49	2	Flat
£52.5K	08/22	0.18 mi	116, Lumley Close, Washington, Tyne And Wear NE38 0HZ	£833	63	2	Flat
£70K	06/23	0.18 mi	131, Lumley Close, Washington, Tyne And Wear NE38 0HZ	-	-	2	Flat
£60K	01/23	0.22 mi	9, Lumley Close, Washington, Tyne And Wear NE38 0HX	£984	61	2	Flat
£52K	08/23	0.29 mi	98, Bamburgh Close, Washington, Tyne And Wear NE38 0HR	£867	60	2	Flat
£43K	04/21	0.5 mi	49, Newstead Court, Washington, Tyne And Wear NE38 7PF	£729	59	2	Flat
£97.5K	08/22	0.52 mi	14, Burtree, Washington, Tyne And Wear NE38 0RA	£1,950	50	2	Flat
£75K	07/23	0.55 mi	40, Pendle Close, Washington, Tyne And Wear NE38 0PZ	£1,271	59	2	Flat
£70K	06/21	0.57 mi	19, Biddick Village Centre, Washington, Tyne And Wear NE38 7NP	£1,167	60	2	Flat
£82K	03/23	0.57 mi	35, Biddick Village Centre, Washington, Tyne And Wear NE38 7NP	-	-	2	Flat
£60K	09/22	0.59 mi	23, Pendle Close, Washington, Tyne And Wear NE38 0PZ	£1,250	48	2	Flat
£90K	07/22	0.61 mi	29, Chacombe, Washington, Tyne And Wear NE38 7HB	£2,143	42	2	Flat
£96.5K	07/23	0.61 mi	31, Chacombe, Washington, Tyne And Wear NE38 7HB	£1,915	50	2	Flat
£80.5K	10/22	0.62 mi	6, Drumaldrace, Washington, Tyne And Wear NE37 1SR	-	-	2	Flat
£85K	09/23	0.63 mi	55, Grizedale, Washington, Tyne And Wear NE37 1TZ	£1,667	51	2	Flat
£63.1K	11/20	0.64 mi	3, Drumaldrace, Washington, Tyne And Wear NE37 1SR	£1,539	41	2	Flat
£71K	10/21	0.64 mi	2, Teal Close, Washington, Tyne And Wear NE38 0EA	£1,065	67	2	Flat
£72.5K	02/23	0.64 mi	24, Drumaldrace, Washington, Tyne And Wear NE37 1SR	£24,167	3	2	Flat
£59.5K	02/21	0.67 mi	8, Lingmell, Washington, Tyne And Wear NE37 1TN	£1,102	54	2	Flat
£50K	11/22	0.69 mi	1, Lingmell, Washington, Tyne And Wear NE37 1TN	-	-	2	Flat
£75K	08/22	0.69 mi	11, Sandpiper Close, Washington, Tyne And Wear NE38 0EG	£1,210	62	2	Flat
£79.5K	07/22	0.74 mi	64, Lingmell, Washington, Tyne And Wear NE37 1TT	-	-	2	Flat
£80K	11/22	0.74 mi	34, Mickley Close, Willington Quay, Wallsend, Tyne And Wear NE28 6JJ	£941	85	2	Flat
£40K	06/23	0.8 mi	14, Mardale, Washington, Tyne And Wear NE37 1TH	-	-	2	Flat
£70K	08/23	0.81 mi	34, Westernmoor, Washington, Tyne And Wear NE37 1LP	£1,129	62	2	Flat
£74K	04/23	0.85 mi	8, Fell Close, Washington, Tyne And Wear NE37 1AX	-	-	2	Flat
£72K	09/22	0.87 mi	17, Emmerson Terrace, Washington, Tyne And Wear NE38 7LN	£515	140	2	Flat
£275K	12/20	0.88 mi	20, Liberty Green, Washington, Tyne And Wear NE38 7UA	£1,884	146	2	Flat
£67.5K	03/21	0.9 mi	5, Musgrave Terrace, Washington, Tyne And Wear NE38 7HR	£1,071	63	2	Flat
£67.5K	03/21	0.94 mi	5, Musgrave Terrace, Washington, Tyne And Wear NE38 7HR	£1,071	63	2	Flat
£61K	06/21	0.98 mi	32, Hogarth Drive, Washington, Tyne And Wear NE38 7LB	-	-	2	Flat
£64.5K	10/20	0.98 mi	34, Hogarth Drive, Washington, Tyne And Wear NE38 7LB	£1,213	53	2	Flat
£72K	08/22	0.98 mi	13, Hogarth Drive, Washington, Tyne And Wear NE38 7LB	-	-	2	Flat
£62K	05/23	0.98 mi	10, Brackenway, Washington, Tyne And Wear NE37 1AW	£1,550	40	2	Flat
£60K	09/22	0.98 mi	8, Brackenway, Washington, Tyne And Wear NE37 1AW	£1,071	56	2	Flat

Local Rents

14 rents from £595/mo to £2.2K/mo, average is £688/mo.

Rent	Date	Distance	Address	Beds	Type
£2,200	06/24	0.09 mi	-	2	Flat
£2,200	06/24	0.09 mi	-	2	Flat
£2,200	02/25	0.09 mi	-	2	Flat
£2,200	03/25	0.09 mi	-	2	Flat
£600	12/24	0.13 mi	Mitford Close, Oxclose, Washington, NE38	2	Flat
£595	12/24	0.14 mi	-	2	Flat
£595	12/24	0.2 mi	Lumley Close, Washington, Tyne and Wear, NE38 0HX	2	Flat
£625	03/25	0.35 mi	-	2	Flat
£760	04/25	0.44 mi	-	2	Semi-Detached House
£650	07/24	0.46 mi	62 Stridingedge	2	Bungalow
£700	12/24	0.47 mi	Helvellyn Avenue, Lambton	2	House
£625	05/24	0.49 mi	-	2	Flat
£675	09/24	0.49 mi	-	2	Terraced House
£795	11/24	0.61 mi	-	2	Semi-Detached House

Local Area Statistics

Population in NE38	31,23231,232
Population in Washington	52,26452,264
Town centre distance	0.72 miles away0.72 miles away
Nearest school	0.20 miles away0.20 miles away
Nearest train station	3.28 miles away3.28 miles away

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

Property History

Price changed to £59,000

February 4, 2025

Listed for £63,000

September 24, 2024

Floor Plans

Description

TENANT IN SITU - ACHIEVING £525 PCM +
IDEAL OPPORTUNITY FOR INVESTMENT +
TWO BEDROOM FIRST FLOOR FLAT +
SPACIOUS LOUNGE +
KITCHEN +
BATHROOM +
GAS CENTRAL HEATING AND UPVC DOUBLE GLAZED +
NEWLY FITTED COMBI BOILER +
REFITTED FRONT DOOR +
IDEAL CENTRAL LOCATION +

Swift Moves AWARD WINNING Estate Agents welcome for sale this two bedroom first floor flat which is currently tenants and achieving a monthly rental of £525pcm. 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. 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.

Agent Details

Swift Moves, Washington

0191 625 0866

Next Steps?

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