2 Bed Flat, Single Let, Newcastle upon Tyne, NE6 2RU, £50,000

142 Scarborough Road, Newcastle Upon Tyne, Tyne And Wear, NE6 2RU - 10 views - 5 months ago

Leasehold
BTL
ROI: 21%
60 m²

ValuationUndervalued

Sold Prices£36K - £186K
Sold Prices/m²£556/m² - £2.7K/m²

 

 

Square Metres

60 m²
Price/m²£833/m²

Value Estimate

£60,000
BMV20%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£12,500

Stamp Duty & Legal Fees

£2,700

Total Cash In

£15,200

 

 

Cash Out

 

Rent Range

£550 - £3,500

Rent Estimate

£550

Running Costs/mo

£286

Cashflow/mo

£264

Cashflow/yr

£3,165

ROI

21%

Gross Yield

13%

Local Sold Prices

50 sold prices from £36K to £186K, average is £82K. £556/m² to £2.7K/m², average is £1.5K/m².

PriceDateDistanceAddressBeds 
£40K12/200.04 mi332, Grace Street, Newcastle Upon Tyne, Tyne And Wear NE6 2RP2
£50K03/210.09 mi221, Scarborough Road, Newcastle Upon Tyne, Tyne And Wear NE6 2RX2
£45K11/220.1 mi299, Benson Road, Newcastle Upon Tyne, Tyne And Wear NE6 2SE2
£57.5K01/230.13 mi2a, Dunmorlie Street, Newcastle Upon Tyne, Tyne And Wear NE6 2JL2
£40.8K01/210.13 mi3, Dunmorlie Street, Newcastle Upon Tyne, Tyne And Wear NE6 2JL2
£54K12/200.16 mi64, Gillies Street, Newcastle Upon Tyne, Tyne And Wear NE6 2JP2
£55.2K11/230.17 mi5, Cullercoats Street, Newcastle Upon Tyne, Tyne And Wear NE6 2JA2
£100K07/230.2 mi94, Fossway, Newcastle Upon Tyne, Tyne And Wear NE6 4QZ2
£36K02/210.21 mi327, Benson Road, Newcastle Upon Tyne, Tyne And Wear NE6 2SH2
£41.8K05/210.21 mi365, Benson Road, Newcastle Upon Tyne, Tyne And Wear NE6 2SH2
£50K03/210.25 mi34, Emily Street, Newcastle Upon Tyne, Tyne And Wear NE6 2QY2
£45.8K01/210.38 mi115, Clydesdale Road, Newcastle Upon Tyne, Tyne And Wear NE6 2EQ2
£65K12/230.38 mi249, Ayton Street, Newcastle Upon Tyne, Tyne And Wear NE6 2DD2
£62K10/200.38 mi215, Commercial Road, Byker, Newcastle Upon Tyne, Tyne And Wear NE6 2ED2
£58K08/230.45 mi5, Relton Avenue, Newcastle Upon Tyne, Tyne And Wear NE6 2TH2
£93K05/230.47 mi20, Denmark Court, Newcastle Upon Tyne, Tyne And Wear NE6 2UG2
£55K09/210.48 mi103, Allendale Road, Newcastle Upon Tyne, Tyne And Wear NE6 2SX2
£86.2K06/230.5 mi8, Brough Street, Newcastle Upon Tyne, Tyne And Wear NE6 5EX2
£77K12/200.54 mi71, Julian Avenue, Newcastle Upon Tyne, Tyne And Wear NE6 4RJ2
£77K12/200.54 mi71, Julian Avenue, Newcastle Upon Tyne, Tyne And Wear NE6 4RJ2
£54.5K06/230.56 mi149, Allendale Road, Newcastle Upon Tyne, Tyne And Wear NE6 2SY2
£112K01/230.58 mi14, Walpole Street, Newcastle Upon Tyne, Tyne And Wear NE6 4RL2
£83K05/230.58 mi13, Walpole Street, Newcastle Upon Tyne, Tyne And Wear NE6 4RL2
£60K05/230.6 mi47, Chatsworth Gardens, St Anthonys, Newcastle Upon Tyne, Tyne And Wear NE6 2TN2
£110K05/240.6 mi4, Cheltenham Terrace, Newcastle Upon Tyne, Tyne And Wear NE6 5HR2
£60K06/210.61 mi54, Kentmere Avenue, Newcastle Upon Tyne, Tyne And Wear NE6 4HE2
£75K12/230.62 mi8, Marondale Avenue, Newcastle Upon Tyne, Tyne And Wear NE6 4HJ2
£142K10/210.63 mi5, Spencer Street, Newcastle Upon Tyne, Tyne And Wear NE6 5BY2
£155K06/230.65 mi17, Marleen Avenue, Newcastle Upon Tyne, Tyne And Wear NE6 5DN2
£105K12/200.65 mi46, Marleen Avenue, Newcastle Upon Tyne, Tyne And Wear NE6 5DN2
£100K02/210.65 mi42, Stannington Place, Newcastle Upon Tyne, Tyne And Wear NE6 5HT2
£40K01/210.66 mi876, Shields Road, Newcastle Upon Tyne, Tyne And Wear NE6 4QP2
£81K01/230.66 mi886, Shields Road, Newcastle Upon Tyne, Tyne And Wear NE6 4QP2
£70K03/240.67 mi18, Borrowdale Avenue, Newcastle Upon Tyne, Tyne And Wear NE6 4HL2
£87K10/230.67 mi6, Keebledale Avenue, Newcastle Upon Tyne, Tyne And Wear NE6 4HS2
£125K01/230.67 mi42, Stannington Place, Newcastle Upon Tyne, Tyne And Wear NE6 5HT2
£73K12/220.68 mi79, Eastbourne Avenue, Newcastle Upon Tyne, Tyne And Wear NE6 4DT2
£172K12/230.69 mi164, Rothbury Terrace, Newcastle Upon Tyne, Tyne And Wear NE6 5DD2
£130K03/210.69 mi207, Rothbury Terrace, Newcastle Upon Tyne, Tyne And Wear NE6 5DD2
£115K12/220.7 mi47, Foundry Court, Newcastle Upon Tyne, Tyne And Wear NE6 1UG2
£106K05/210.7 mi309, Rothbury Terrace, Newcastle Upon Tyne, Tyne And Wear NE6 5DE2
£128.5K04/230.7 mi210, Rothbury Terrace, Newcastle Upon Tyne, Tyne And Wear NE6 5DE2
£85.8K06/230.7 mi45, Foundry Court, Newcastle Upon Tyne, Tyne And Wear NE6 1UG2
£95K11/220.7 mi26, Foundry Court, Newcastle Upon Tyne, Tyne And Wear NE6 1UG2
£133K05/210.71 mi38, Balmoral Terrace, Heaton, Newcastle Upon Tyne, Tyne And Wear NE6 5YA2
£125.5K01/210.71 mi56, Balmoral Terrace, Heaton, Newcastle Upon Tyne, Tyne And Wear NE6 5YA2
£182K12/230.72 mi218, Simonside Terrace, Newcastle Upon Tyne, Tyne And Wear NE6 5DR2
£130K11/200.72 mi266, Simonside Terrace, Newcastle Upon Tyne, Tyne And Wear NE6 5DR2
£186K10/230.73 mi35, St Peters Wharf, Newcastle Upon Tyne, Tyne And Wear NE6 1TW2
£137K10/200.73 mi35, Stannington Avenue, Newcastle Upon Tyne, Tyne And Wear NE6 5AA2

Local Rents

38 rents from £550/mo to £3.5K/mo, average is £700/mo.

RentDateDistanceAddressBeds 
£65006/240 miGrace Street, Walker, Newcastle upon Tyne, Tyne and Wear, NE6 2RP2
£69502/250.08 mi-2
£59005/240.09 miBenson Road, Newcastle Upon Tyne, NE62
£62502/250.1 mi-2
£62510/240.1 mi-2
£61512/240.13 mi-2
£70006/240.16 miHarriet Street, Byker, Newcastle Upon Tyne2
£70007/240.16 miHarriet Street, Byker, Newcastle Upon Tyne2
£60005/240.17 mi-2
£55006/240.17 miCanterbury Street, Newcastle Upon Tyne, NE62
£55007/240.17 mi-2
£70006/240.25 miScarborough Road, Byker, Newcaslte Upon Tyne2
£70007/240.25 miScarborough Road, Byker, Newcaslte Upon Tyne2
£70007/240.25 miScarborough Road, Byker, Newcaslte Upon Tyne2
£72505/240.3 miWelbeck Mews, Walker, NE62
£78006/240.36 mi-2
£55006/240.38 miClydesdale Road, Newcastle Upon Tyne2
£1,15006/240.38 mi-2
£69511/240.47 mi-2
£75005/240.5 miJulian Avenue, Walkergate, Newcastle upon Tyne, Tyne and Wear, NE6 4RJ2
£85011/240.5 mi-2
£1,35006/240.54 mi-2
£94510/240.54 mi-2
£89503/250.54 mi-2
£95006/240.54 miPalmerston Avenue, Walkergate, Newcastle upon Tyne, Tyne and Wear, NE6 4RD2
£75005/240.56 mi-2
£75005/240.56 miJulian Avenue, Newcastle Upon Tyne, NE62
£92506/240.57 miChillingham Road, Heaton, Newcastle upon Tyne, Tyne and Wear, NE6 5BJ2
£80001/250.58 mi-2
£65005/240.58 miWalpole Street, Walkergate, Newcastle upon Tyne, NE6 4RL2
£3,50003/250.58 mi-2
£70006/240.6 miMarondale Avenue, Walkerdene, Newcastle Upon Tyne2
£70006/240.6 miMarondale Avenue, Walkerdene, Newcastle Upon Tyne2
£95005/240.61 miFifth Avenue, Heaton, Newcastle Upon Tyne,NE62
£62507/240.62 miMarondale Avenue, Newcastle upon Tyne, NE62
£57506/240.62 miChatsworth Gardens, St. Anthonys, Newcastle Upon Tyne, NE62
£57506/240.62 mi-2
£87502/250.62 mi-2

Local Area Statistics

Population in NE6

50,441

Population in Newcastle upon Tyne

381,037

Town centre distance

4.27 miles away

Nearest school

0.20 miles away

Nearest train station

0.36 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+23%

Sales demand

Seller's market

Capital growth (5yrs)

+31%

Property History

Listed for £50,000

October 7, 2024

Sold for £19,000

2002

Description

  • Two bedroom +
  • First floor flat +
  • No Onward Chain +
  • Leasehold - 125 years from 31 October 1994 +
  • £10 Ground rent per annum +
  • Service charge to follow +
  • Sold as seen +
  • EPC rating C +
  • Council tax band A +

On the market is a delightful 2-bedroom flat, perfect for those looking to establish their home in a location benefitting from proximity to public transport links.

The flat comprises of 2 well-proportioned bedrooms, providing ample space for rest and relaxation. The property also features a single bathroom, ensuring all essential needs are met.
There is a kitchen to the front of the property. Adjoining the kitchen is a single, charming reception room. This space offers a delightful garden view, allowing natural light to flood the room and providing a peaceful setting for relaxation or entertaining guests.

The property comes with a council tax band of "A", making it an economical choice for homeowners. It also boasts an EPC rating of "C", indicating a reasonable energy efficiency level, which is an important consideration for those conscious about their environmental impact and utility costs.

In conclusion, this flat presents a fantastic opportunity for individuals or couples seeking a comfortable home in a location with great transport links. The combination of practical living spaces and a desirable location make this property one to consider seriously. Offered for sale with no onward chain.
LOUNGE – 16’6 x 10’11 (5.03m x 3.34m)KITCHEN – 7’2 x 8’4 (2.18m x 2.56m)BATHROOM/WC – 7’1 x 6’9 (2.15m x 2.04m)BEDROOM 1 – 13’7 x 9’8 (4.14m x 2.93m)BEDROOM 2- 13’6 x 6’3 (4.13m x 1.92m)
PRIMARY SERVICES SUPPLY
Electricity: MAINS
Water: MAINS
Sewerage: MAINS
Heating: GAS CENTRAL HEATING
Broadband: NOT CURRENTLY INSTALLED
Mobile Signal Coverage Blackspot: Yes – Limited
Parking: NO PARKINGMINING: The North East region is famous for its rich mining heritage and therefore it will be beneficial to conduct a mining search. Confirmation should be sought from a conveyancer as to its effect on the property, if any.

Agent Details

Rook Matthews Sayer, Jesmond

0191 625 0131

Next Steps?

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