3 Bed Semi-Detached House, Refurb/BRRR, Gateshead, NE9 7AB, £105,000

141 Springwell Road, Gateshead, NE9 7AB - 6 months ago

Sold STC
Refurb/BRRR
ROI: 5%
77 m²
+11 photos

ValuationFair Value

Sold Prices£68K - £355K
Sold Prices/m²£814/m² - £2.5K/m²

 

 

Square Metres

77 m²
Price/m²£1.4K/m²

Value Estimate

£107,100

 

 

End Value (After Refurb)

£122,189

Uplift in Value

+16%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£26,250

Stamp Duty & Legal Fees

£6,450

Refurb Costs

£29,475

Bridging Loan Interest

£2,756

Total Cash In

£66,682

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£122,189

Mortgage (After Refinance)

£91,642

Mortgage LTV

75%

Cash Released

£12,892

Cash Left In

£53,790

Equity

£30,547

Rent Range

£650 - £1,395

Rent Estimate

£872

Running Costs/mo

£576

Cashflow/mo

£296

Cashflow/yr

£3,549

ROI

5%

Gross Yield

10%

Local Sold Prices

50 sold prices from £68K to £355K, average is £143.8K. £814/m² to £2.5K/m², average is £1.6K/m².

PriceDateDistanceAddressBeds 
£118K04/210.04 mi8, Springwell Terrace, Gateshead, Tyne And Wear NE9 7AY3
£116K06/210.12 mi113, Springwell Road, Wrekenton, Gateshead, Tyne And Wear NE9 7AA3
£145K05/230.14 mi34, Lanchester Avenue, Gateshead, Tyne And Wear NE9 7AJ3
£94K11/200.15 mi86, Aycliffe Avenue, Gateshead, Tyne And Wear NE9 7BX3
£109K06/210.19 mi9, Wolviston Gardens, Gateshead, Tyne And Wear NE9 7LQ3
£88.5K01/240.28 mi10, Aycliffe Avenue, Gateshead, Tyne And Wear NE9 7BU3
£115K03/230.29 mi18, Shincliffe Gardens, Gateshead, Tyne And Wear NE9 7LJ3
£165K10/210.29 mi5, Marsden Grove, Gateshead, Tyne And Wear NE9 7LX3
£90K11/200.31 mi74, Rugby Gardens, Gateshead, Tyne And Wear NE9 7JX3
£132K04/230.43 mi33, Sherburn Terrace, Gateshead, Tyne And Wear NE9 7AQ3
£190K07/230.44 mi14, Hazelwood Close, Gateshead, Tyne And Wear NE9 7JA3
£190K11/200.44 mi4, Hazelwood Close, Gateshead, Tyne And Wear NE9 7JA3
£120K10/210.45 mi22, Oakwood, Gateshead, Tyne And Wear NE10 8LU3
£142K06/230.5 mi134, Staneway, Gateshead, Tyne And Wear NE10 8LS3
£128K06/210.5 mi2, Pontdyke, Gateshead, Tyne And Wear NE10 8LP3
£130K08/210.51 mi102, Oakwood, Gateshead, Tyne And Wear NE10 8LW3
£145K10/200.51 mi101, Oakwood, Gateshead, Tyne And Wear NE10 8LW3
£147K08/210.51 mi90, Oakwood, Gateshead, Tyne And Wear NE10 8LW3
£155K12/200.51 mi5, Rosemary Gardens, Gateshead, Tyne And Wear NE9 7XH3
£125K02/230.52 mi23, Donside, Gateshead, Tyne And Wear NE10 8RE3
£157K02/210.52 mi22, The Rowans, Gateshead, Tyne And Wear NE9 7BN3
£158.5K12/210.54 mi19, Cedarway, Gateshead, Tyne And Wear NE10 8LD3
£70K03/210.54 mi6, Larkspur, Gateshead, Tyne And Wear NE9 6SA3
£160K03/240.55 miGreenside, Wrekenton Row, Gateshead, Tyne And Wear NE9 7JE3
£142.5K04/230.58 mi19, Stainton Gardens, Gateshead, Tyne And Wear NE9 7EH3
£191K09/210.58 mi10, Planesway, Gateshead, Tyne And Wear NE10 8LG3
£158K10/210.58 mi55, Planesway, Gateshead, Tyne And Wear NE10 8LG3
£165K03/210.58 mi6, Planesway, Gateshead, Tyne And Wear NE10 8LG3
£92.5K04/210.58 mi17, Wardenlaw, Gateshead, Tyne And Wear NE10 8NE3
£92K07/210.58 mi9, Brackenlaw, Gateshead, Tyne And Wear NE9 6RU3
£72K03/210.58 mi19, Brackenlaw, Gateshead, Tyne And Wear NE9 6RU3
£97.2K10/200.59 mi10, Englefeld, Gateshead, Tyne And Wear NE10 8RL3
£185K05/230.6 mi26, Firtrees, Gateshead, Tyne And Wear NE10 8LE3
£175K04/210.6 mi26, Firtrees, Gateshead, Tyne And Wear NE10 8LE3
£147K05/210.6 mi51, Firtrees, Gateshead, Tyne And Wear NE10 8LE3
£180K05/230.6 mi4, Firtrees, Gateshead, Tyne And Wear NE10 8LE3
£210K12/200.6 mi9, Southlands, Gateshead, Tyne And Wear NE9 7BP3
£94K08/240.61 mi7, Whinlaw, Gateshead, Tyne And Wear NE9 6RS3
£290K06/220.62 mi18, Fairhaven, Springwell, Gateshead, Tyne And Wear NE9 7QZ3
£140K04/210.62 mi17, Sacriston Gardens, Gateshead, Tyne And Wear NE9 7ES3
£130K07/240.62 mi10, Sacriston Gardens, Gateshead, Tyne And Wear NE9 7ES3
£88K12/200.62 mi27, Heatherlaw, Gateshead, Tyne And Wear NE9 6RY3
£100K11/210.62 mi28, Heatherlaw, Gateshead, Tyne And Wear NE9 6RY3
£68K10/200.62 mi28, Heatherlaw, Gateshead, Tyne And Wear NE9 6RY3
£355K02/240.62 mi1, Fairhaven, Springwell, Gateshead, Tyne And Wear NE9 7QZ3
£185K10/200.64 mi3, The Hawthorns, Gateshead, Tyne And Wear NE9 7LF3
£182.5K08/230.64 mi3, Windsor Terrace, Springwell, Gateshead, Tyne And Wear NE9 7QN3
£215K08/240.64 mi4, Windsor Terrace, Springwell, Gateshead, Tyne And Wear NE9 7QN3
£187.5K03/210.65 mi10, Celandine Way, Windy Nook, Gateshead, Tyne And Wear NE10 8QP3
£150K11/200.65 mi28, Yewtrees, Gateshead, Tyne And Wear NE10 8LH3

Local Rents

26 rents from £650/mo to £1.4K/mo, average is £850/mo.

RentDateDistanceAddressBeds 
£80002/250.42 mi-3
£85006/240.5 miPontdyke, Leam Lane, Gateshead, Tyne And Wear, NE103
£82003/250.59 mi-3
£89905/240.62 mi-3
£85006/240.66 miMeadowfield, Springwell Village, Gateshead, NE9, Tyne and Wear3
£80007/240.69 miSeaham Gardens, Wrekenton3
£72506/240.74 miFernlough, Gateshead, NE93
£72506/240.74 mi-3
£80007/240.76 miMillbeck Gardens, Gateshead, Tyne And Wear, NE93
£75007/240.81 miHarewood Green, Gateshead3
£75006/240.84 miBramhope Green, Harlow Green, Gateshead, NE93
£65008/240.85 mi-3
£85006/240.94 miHarraby Gardens, Low Fell, Gateshead, NE93
£1,05003/250.95 mi-3
£92511/241.02 mi-3
£77505/241.05 miCotemede, Gateshead, Tyne And Wear, NE103
£95002/251.06 mi-3
£87503/241.08 mi-3
£87505/241.08 miGateshead, Gateshead, NE103
£90007/241.12 miRedemarsh, Leam Lane, Gateshead, Tyne And Wear, NE103
£70006/241.16 miCauseway, Sheriff Hill, Gateshead, Tyne And Wear, NE93
£85007/241.18 miLarne Crescent, Gateshead, Tyne and Wear, NE9 5RQ3
£90008/241.2 miMeresyde, Gateshead, Tyne And Wear, NE103
£1,20003/251.22 mi-3
£89506/241.22 miCherrytree Gardens, Low Fell3
£1,39506/241.23 miChurch Road, Low Fell3

Local Area Statistics

Population in NE9

37,590

Population in Gateshead

122,353

Town centre distance

1.22 miles away

Nearest school

0.10 miles away

Nearest train station

1.68 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

-41%

Sales demand

Seller's market

Capital growth (5yrs)

+7%

Property History

Listed for £105,000

September 26, 2024

Description

We are delighted to bring to the market this three-bedroom semi-detached home offers a fantastic opportunity for those looking to add their personal touch. While it does require some modernisation, it boasts desirable features such as double glazing and gas central heating, ensuring comfort throughout the year. Accommodation briefly comprises- : Entrance hallway, lounge with feature fire, opening to dining room, modern kitchen with some appliances and access to the rear garden. To the first floor there are three bedrooms and a shower room / w.c. Externally the property is complemented by enclosed gardens to both the front and back, providing a private outdoor space perfect for relaxing or entertaining. With its potential and excellent location, this home is ideal for families or investors looking to create their dream space. Don't miss out on this opportunity to make it your own!

Entrance Hallway -

Lounge - 4.40 x 3.60 (14'5" x 11'9" ) -

Dining Room - 2.44 x 2.44 (8'0" x 8'0" ) -

Kitchen - 3.04 x 3.02 (9'11" x 9'10") -

Accommodation First Floor -

Bedroom One - 3.62 x 3.19 (11'10" x 10'5" ) -

Bedroom Two - 3.19 x 3.10 (10'5" x 10'2" ) -

Bedroom Three - 2.68 x 2.34 (8'9" x 7'8") -

Bathroom/ W.C -

External -

Property Disclaimer - IMPORTANT NOTE TO PURCHASERS: We endeavour to make our sales particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and none is to be relied upon as statements of representation or fact. The services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency is given. All measurements have been taken as a guide to prospective buyers only, and are not precise. Floor plans where included are not to scale and accuracy is not guaranteed. If you require clarification or further information on any points, please contact us, especially if you are travelling some distance to view. Fixtures and fittings other than those mentioned are to be agreed with the seller. We cannot also confirm at this stage of marketing the tenure of this house.

Tenure - Gordon Brown Estate Agents have not seen any legal written confirmation to be able to currently advise on the tenure of the property. Therefore we are unable to advise on the tenure at this stage. Please call us on for clarification before proceeding to purchase the property.

Agent Details

Gordon Brown Estate Agents Ltd, Gateshead

0191 625 0751

Next Steps?

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