2 Bed Flat, Single Let, Gateshead, NE8 2DF, £125,000

Colombo Square, Worsdell Drive, Gateshead, NE8 2DF - 1 views - 6 months ago

Leasehold
BTL
ROI: 10%
~68 m²
+13 photos

ValuationUndervalued

Sold Prices£59K - £475K
Sold Prices/m²£900/m² - £3.8K/m²

 

 

Square Metres

~68.11 m²
Price/m²£1.8K/m²

Value Estimate

£135,220
BMV8%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£31,250

Stamp Duty & Legal Fees

£4,950

Total Cash In

£36,200

 

 

Cash Out

 

Rent Range

£800 - £1,500

Rent Estimate

£895

Running Costs/mo

£590

Cashflow/mo

£305

Cashflow/yr

£3,665

ROI

10%

Gross Yield

9%

Local Sold Prices

50 sold prices from £59K to £475K, average is £150K. £900/m² to £3.8K/m², average is £2K/m².

PriceDateDistanceAddressBeds 
£152K06/230.24 mi119, Curzon Place, Gateshead, Tyne And Wear NE8 2ES2
£120K06/230.24 mi116, Curzon Place, Gateshead, Tyne And Wear NE8 2ES2
£140K12/200.24 mi78, Curzon Place, Gateshead, Tyne And Wear NE8 2ES2
£138.1K12/200.24 mi88, Curzon Place, Gateshead, Tyne And Wear NE8 2ES2
£92.5K11/230.24 mi66, Curzon Place, Gateshead, Tyne And Wear NE8 2ES2
£125.5K08/230.24 miApartment 33, Hanover Mill, Hanover Street, Newcastle Upon Tyne, Tyne And Wear NE1 3AB2
£135K09/230.24 miApartment 20, Hanover Mill, Hanover Street, Newcastle Upon Tyne, Tyne And Wear NE1 3AB2
£150K05/240.24 miHanover Mill, Apartment 26, Hanover Street, Newcastle Upon Tyne, Tyne And Wear NE1 3AB2
£155K10/200.26 miApartment 6, Mill House, Hanover Street, Newcastle Upon Tyne, Tyne And Wear NE1 3AG2
£117K11/230.26 mi42, Curzon Place, Gateshead, Tyne And Wear NE8 2ER2
£130K05/230.26 mi30, Curzon Place, Gateshead, Tyne And Wear NE8 2ER2
£405K03/210.32 miLoft 2, The Turnbull, Queens Lane, Newcastle Upon Tyne, Tyne And Wear NE1 1NA2
£265K07/230.32 miLoft 48, The Turnbull, Queens Lane, Newcastle Upon Tyne, Tyne And Wear NE1 1NA2
£475K10/200.32 miLoft 9, The Turnbull, Queens Lane, Newcastle Upon Tyne, Tyne And Wear NE1 1NA2
£200K06/210.32 miLoft 26, The Turnbull, Queens Lane, Newcastle Upon Tyne, Tyne And Wear NE1 1NA2
£405K03/210.36 miLoft 2, The Turnbull, Queens Lane, Newcastle Upon Tyne, Tyne And Wear NE1 1NA2
£106K10/200.41 mi3e, Queen Street, Newcastle Upon Tyne, Tyne And Wear NE1 3UG2
£165K04/240.42 mi23b, Queen Street, Newcastle Upon Tyne, Tyne And Wear NE1 3UG2
£200K02/210.45 mi5, Peppercorn Court, Newcastle Upon Tyne, Tyne And Wear NE1 3HD2
£86K01/230.46 mi14, Affleck Street, Gateshead, Tyne And Wear NE8 1QY2
£98K03/230.48 mi70, Windmill Way, Gateshead, Tyne And Wear NE8 1NU2
£59K11/200.5 mi5, Claremont South Avenue, Gateshead, Tyne And Wear NE8 1RJ2
£129K11/200.52 miApartment 314, The Bar, St James Gate, Newcastle Upon Tyne, Tyne And Wear NE1 4BA2
£156K05/240.52 miThe Bar, Apartment 608, St James Gate, Newcastle Upon Tyne, Tyne And Wear NE1 4BA2
£315K06/230.55 mi26, Love Lane, Newcastle Upon Tyne, Tyne And Wear NE1 3DW2
£195K12/200.55 mi7, Love Lane, Newcastle Upon Tyne, Tyne And Wear NE1 3DW2
£150K04/240.56 mi55 Degrees North, 8/7, Pilgrim Street, Newcastle Upon Tyne, Tyne And Wear NE1 6BG2
£165K02/210.56 mi8/13, 55 Degrees North, Pilgrim Street, Newcastle Upon Tyne, Tyne And Wear NE1 6BG2
£270K10/200.56 miP5, 55 Degrees North, Pilgrim Street, Newcastle Upon Tyne, Tyne And Wear NE1 6BJ2
£135.8K07/210.56 mi4/14, 55 Degrees North, Pilgrim Street, Newcastle Upon Tyne, Tyne And Wear NE1 6BF2
£155K12/220.56 mi5/14, 55 Degrees North, Pilgrim Street, Newcastle Upon Tyne, Tyne And Wear NE1 6BF2
£194K08/230.56 mi9/19, 55 Degrees North, Pilgrim Street, Newcastle Upon Tyne, Tyne And Wear NE1 6BJ2
£185K03/240.56 mi21, Milk Market, Newcastle Upon Tyne, Tyne And Wear NE1 3DN2
£152K06/230.56 mi6, Milk Market, Newcastle Upon Tyne, Tyne And Wear NE1 3DN2
£160K07/210.57 mi8/19, 55 Degrees North, Pilgrim Street, Newcastle Upon Tyne, Tyne And Wear NE1 6BG2
£215K09/230.58 miApartment 409, Pandongate House, City Road, Newcastle Upon Tyne, Tyne And Wear NE1 2AY2
£63K12/200.59 mi62, Woodbine Street, Gateshead, Tyne And Wear NE8 1SS2
£185K11/220.59 miApartment 101, Pandongate House, City Road, Newcastle Upon Tyne, Tyne And Wear NE1 2AY2
£113.5K11/200.59 mi77c, Grainger Street, Newcastle Upon Tyne, Tyne And Wear NE1 5JF2
£159.5K11/230.61 miApartment 14, Charltons Bonds, Waterloo Street, Newcastle Upon Tyne, Tyne And Wear NE1 4DE2
£115K09/230.61 miApartment 22, Waterloo House, Thornton Street, Newcastle Upon Tyne, Tyne And Wear NE1 4AP2
£104K12/200.63 miApartment 5, Waterloo House, Thornton Street, Newcastle Upon Tyne, Tyne And Wear NE1 4AP2
£135K07/230.65 mi12, Charlotte Mews, Newcastle Upon Tyne, Tyne And Wear NE1 4XH2
£135K12/230.65 mi3, Charlotte Mews, Newcastle Upon Tyne, Tyne And Wear NE1 4XH2
£152K11/230.68 mi18, Blackfriars Court, Newcastle Upon Tyne, Tyne And Wear NE1 4XB2
£82.5K03/210.69 mi21, Chaucer Close, Gateshead, Tyne And Wear NE8 3NG2
£90K01/240.69 mi52, Chaucer Close, Gateshead, Tyne And Wear NE8 3NG2
£70K03/240.71 mi20, Ripon Street, Gateshead, Tyne And Wear NE8 4EP2
£142K05/210.73 miApartment 34, Printworks, Rutherford Street, Newcastle Upon Tyne, Tyne And Wear NE4 5DP2
£160K03/230.73 miApartment 21, Printworks, Rutherford Street, Newcastle Upon Tyne, Tyne And Wear NE4 5DP2

Local Rents

50 rents from £800/mo to £1.5K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£89506/240 miColombo Square, Worsdell Drive, Gateshead, Tyne & Wear, NE82
£1,50003/240.01 miColombo Square, Worsdell Drive, Gateshead, Tyne And Wear, NE82
£1,00006/240.01 miColombo Square, Worsdell Drive, Gateshead, Tyne And Wear, NE82
£1,02006/240.01 miColombo Square, Worsdell Drive, Ochre Yards, Gateshead, NE82
£1,02006/240.01 miColombo Square, Worsdell Drive, Ochre Yards, Gateshead, NE82
£89506/240.01 miColombo Square, Gateshead2
£1,02007/240.01 miColombo Square, Worsdell Drive, Gateshead, NE82
£1,20006/240.01 miColombo Square, Worsdell Drive, Gateshead, Tyne And Wear, NE82
£1,02006/240.01 miColombo Square, Worsdell Drive, Gateshead2
£1,02006/240.01 miWorsdell Drive, Gateshead, NE82
£1,10003/240.03 miCameronian Square, Worsdell Drive, Gateshead, Tyne And Wear, NE82
£1,20003/240.03 miWorsdell Drive, Gateshead, Tyne And Wear, NE82
£1,20006/240.03 miCameronian Square, Ochre Yards, Gateshead, NE82
£92506/240.03 miCameronian Square, Gateshead2
£89506/240.03 miCameronian Square, Ochre Yards, Gateshead, NE82
£1,02007/240.03 miCameronian Square, Ochre Yards, Gateshead, NE82
£1,20006/240.03 miFairway Court, Fletcher Road, Gateshead, NE82
£94503/250.03 mi-2
£89506/240.03 miCameronian Square, Worsdell Drive, Gateshead2
£1,15002/250.03 mi-2
£92506/240.03 miCameronian Square, Worsdell Drive, Gateshead, Tyne and Wear, NE82
£89506/240.03 miCameronian Square, Worsdell Drive, GATESHEAD, Tyne and Wear, NE82
£94006/240.03 miWillbrook House, Worsdell Drive, Gateshead, NE82
£1,25010/240.03 mi-2
£99511/240.03 mi-2
£80006/240.03 miWorsdell Drive, Gateshead2
£1,35003/250.04 mi-2
£1,15007/240.04 miWorsdell Drive, Gateshead, NE82
£1,45006/240.04 miWillbrook House, Ochre Yards, Worsdell Drive, Gateshead, Tyne And Wear, NE82
£1,20003/240.04 miWillbrook House, Worsdell Drive, Gateshead, Tyne And Wear, NE82
£1,20007/240.04 miWillbrook House, Worsdell Drive, Gateshead, Tyne And Wear, NE82
£1,20007/240.04 miWillbrook House, Worsdell Drive, Gateshead, Tyne And Wear, NE82
£1,20006/240.04 miWorsdell Drive, Gateshead, Tyne And Wear, NE82
£1,19506/240.04 miOchre Mews, Raven Road, Gateshead, NE82
£1,04506/240.04 miOchre Mews, Raven Road, Gateshead, NE82
£1,22506/240.04 miOchre Mews, Raven Road, Gateshead, NE82
£1,10006/240.05 miMarmion Court, Worsdell Drive, Gateshead, NE82
£1,19507/240.05 miWillbrook House, Gateshead Quays2
£1,10003/240.05 miWillbrook House, Worsdell Drive, Gateshead, Tyne And Wear, NE82
£1,20006/240.05 miWorsdell Drive, Gateshead, Tyne And Wear, NE82
£90011/240.05 mi-2
£1,20006/240.05 miMarmion Court, Worsdell Drive, Gateshead, Tyne And Wear, NE82
£1,20010/240.05 mi-2
£1,30006/240.05 miOchre Mews, Raven Road, Gateshead, NE8 2FF2
£1,35007/240.05 miWillbrook House, Worsdell Drive, Gateshead, NE82
£1,25003/240.05 miTranquil House, Worsdell Drive, Gateshead, Tyne And Wear, NE82
£1,35003/240.05 miWorsdell Drive, Gateshead, Tyne And Wear, NE82
£1,15007/240.06 mi-2
£1,25006/240.09 miWorsdell Drive, Gateshead, Tyne And Wear, NE82
£1,05006/240.09 miMidlothian Court, Worsdell Drive, Gateshead, Tyne And Wear, NE82

Local Area Statistics

Population in NE8

32,358

Population in Gateshead

122,353

Town centre distance

1.85 miles away

Nearest school

0.30 miles away

Nearest train station

0.45 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+64%

Sales demand

Balanced market

Capital growth (5yrs)

+15%

Property History

Listed for £125,000

October 4, 2024

Description

  • Two Bedrooms +

  • Fitted Kitchen +

  • Balcony +

  • Moder Bathroom +

  • Allocated Parking +

  • Council Tax Band +

  • EPC Rating B +

A SMART second floor apartment set within a popular modern development which boasts lift access to all floors and a SECURE INTERCOM ENTRY SYSTEM. The apartment itself offers living space which includes an open plan lounge/diner and FITTED KITCHEN with patio doors providing access to a BALCONY, two double bedrooms and a modern bathroom. Externally, the apartment further benefits from an ALLOCATED PARKING BAY. This apartment will appeal to a wide range of potential purchasers including first time buyers, investors and those simply seeking to down-size.

Agent Details

Sarah Mains Residential Sales and Lettings, Low Fell

0191 625 0805

Next Steps?

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