2 Bed Flat, Potential PLO/LOA, Newcastle upon Tyne, NE12 8RT, £79,950

70 West Farm Avenue, Newcastle Upon Tyne, Tyne And Wear, NE12 8RT - 2 views - 5 months ago

Sold STC
Leasehold
Negative Equity
ROI: 18%
64 m²
+11 photos

ValuationUndervalued

Sold Prices£69.7K - £222K
Sold Prices/m²£496/m² - £2.6K/m²

 

 

Square Metres

64 m²
Price/m²£1.2K/m²

Value Estimate

£96,740
BMV21%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£19,988

Stamp Duty & Legal Fees

£3,599

Total Cash In

£23,586

 

 

Cash Out

 

Rent Range

£625 - £1,050

Rent Estimate

£781

Running Costs/mo

£426

Cashflow/mo

£355

Cashflow/yr

£4,259

ROI

18%

Gross Yield

12%

Local Sold Prices

50 sold prices from £69.7K to £222K, average is £98.5K. £496/m² to £2.6K/m², average is £1.6K/m².

PriceDateDistanceAddressBeds 
£75K02/230.01 mi58, West Farm Avenue, Newcastle Upon Tyne, Tyne And Wear NE12 8RT2
£88K06/230.01 mi34, West Farm Avenue, Newcastle Upon Tyne, Tyne And Wear NE12 8RT2
£79K08/210.04 mi121, West Farm Avenue, Newcastle Upon Tyne, Tyne And Wear NE12 8LT2
£99K09/230.08 mi61, Stoneleigh Avenue, Newcastle Upon Tyne, Tyne And Wear NE12 8NP2
£87.5K07/230.08 mi71, Stoneleigh Avenue, Newcastle Upon Tyne, Tyne And Wear NE12 8NP2
£100K05/210.09 mi18, Monarch Court, Newcastle Upon Tyne, Tyne And Wear NE12 8PG2
£93.5K03/230.11 mi128, Charnwood Avenue, Newcastle Upon Tyne, Tyne And Wear NE12 8SL2
£88.4K08/230.12 mi35, West Farm Avenue, Newcastle Upon Tyne, Tyne And Wear NE12 8LS2
£89K06/230.15 mi41, Lutterworth Road, Newcastle Upon Tyne, Tyne And Wear NE12 8QQ2
£85K12/210.17 mi15, Blackfriars Way, Newcastle Upon Tyne, Tyne And Wear NE12 8ST2
£82.5K03/210.18 mi87, Rowanberry Road, Newcastle Upon Tyne, Tyne And Wear NE12 8JH2
£91.1K01/240.18 mi87, Rowanberry Road, Newcastle Upon Tyne, Tyne And Wear NE12 8JH2
£125K11/220.19 mi61, Rosebury Drive, Longbenton, Newcastle Upon Tyne, Tyne And Wear NE12 8RG2
£105K11/200.19 mi11, Oxford Close, Longbenton, Newcastle Upon Tyne, Tyne And Wear NE12 8TN2
£128K06/230.2 mi39, Rosebury Drive, Longbenton, Newcastle Upon Tyne, Tyne And Wear NE12 8RG2
£120K06/230.2 mi5, Rosebury Drive, Longbenton, Newcastle Upon Tyne, Tyne And Wear NE12 8RG2
£82K07/210.2 mi70, Chesters Avenue, Newcastle Upon Tyne, Tyne And Wear NE12 8PY2
£87.5K02/210.23 mi2, Pennine Way, Newcastle Upon Tyne, Tyne And Wear NE12 8TA2
£86.5K03/210.27 mi308, Chesters Avenue, Newcastle Upon Tyne, Tyne And Wear NE12 8QN2
£69.7K08/230.27 mi334, Chesters Avenue, Newcastle Upon Tyne, Tyne And Wear NE12 8QN2
£82K03/230.28 mi23, Monks Park Way, Newcastle Upon Tyne, Tyne And Wear NE12 8XJ2
£83K12/230.3 mi21, Monks Park Way, Newcastle Upon Tyne, Tyne And Wear NE12 8XJ2
£141K12/220.3 mi7, Lealholm Road, Newcastle Upon Tyne, Tyne And Wear NE7 7NN2
£100K01/230.32 mi18, Stonechat Place, Newcastle Upon Tyne, Tyne And Wear NE12 8PD2
£125K04/210.37 mi19, Cosgrove Court, Newcastle Upon Tyne, Tyne And Wear NE7 7NW2
£85K05/230.38 mi4, Camsey Close, Newcastle Upon Tyne, Tyne And Wear NE12 8YE2
£95K06/210.39 mi49, Trentham Avenue, Newcastle Upon Tyne, Tyne And Wear NE7 7NQ2
£91K10/230.39 mi41, Trentham Avenue, Newcastle Upon Tyne, Tyne And Wear NE7 7NQ2
£82.5K03/230.45 mi23, Manor Walk, Newcastle Upon Tyne, Tyne And Wear NE7 7XX2
£118.6K06/230.45 mi7, Manor Walk, Newcastle Upon Tyne, Tyne And Wear NE7 7XX2
£80K10/210.45 mi5, Byland Road, Newcastle Upon Tyne, Tyne And Wear NE12 8XS2
£86.8K08/230.47 mi35, Byland Road, Newcastle Upon Tyne, Tyne And Wear NE12 8XS2
£133K07/210.51 mi22, Williams Park, Newcastle Upon Tyne, Tyne And Wear NE12 8BL2
£140K06/230.51 mi20, Williams Park, Newcastle Upon Tyne, Tyne And Wear NE12 8BL2
£125K05/210.51 mi39, Williams Park, Newcastle Upon Tyne, Tyne And Wear NE12 8BL2
£132K01/210.51 mi56, Williams Park, Newcastle Upon Tyne, Tyne And Wear NE12 8BL2
£125K09/200.51 mi45, Williams Park, Newcastle Upon Tyne, Tyne And Wear NE12 8BL2
£142.5K05/240.51 mi15, Williams Park, Newcastle Upon Tyne, Tyne And Wear NE12 8BL2
£150K11/220.51 mi40, Williams Park, Newcastle Upon Tyne, Tyne And Wear NE12 8BL2
£91K12/220.52 mi54, Byland Road, Newcastle Upon Tyne, Tyne And Wear NE12 8XT2
£106K08/210.56 mi188, Fairways Avenue, Newcastle Upon Tyne, Tyne And Wear NE7 7UE2
£165K01/210.6 mi22, Cloister Garth, Newcastle Upon Tyne, Tyne And Wear NE7 7LW2
£222K12/230.6 mi10, Cloister Garth, Newcastle Upon Tyne, Tyne And Wear NE7 7LW2
£135K06/230.6 mi5, Cloister Garth, Newcastle Upon Tyne, Tyne And Wear NE7 7LW2
£122.5K01/210.68 mi45, Hunters Court, Newcastle Upon Tyne, Tyne And Wear NE3 1SP2
£130K04/210.68 mi20, Hunters Court, Newcastle Upon Tyne, Tyne And Wear NE3 1SP2
£112K01/240.68 mi18, Hunters Court, Newcastle Upon Tyne, Tyne And Wear NE3 1SP2
£122.5K11/220.68 mi32, Hunters Court, Newcastle Upon Tyne, Tyne And Wear NE3 1SP2
£95K12/210.69 mi67, Coach Lane, Newcastle Upon Tyne, Tyne And Wear NE7 7TR2
£98K10/210.69 mi77, Coach Lane, Newcastle Upon Tyne, Tyne And Wear NE7 7TR2

Local Rents

34 rents from £625/mo to £1.1K/mo, average is £875/mo.

RentDateDistanceAddressBeds 
£95011/230.07 mi-2
£92501/250.07 mi-2
£75012/240.1 mi-2
£85002/250.1 mi-2
£62512/240.14 mi-2
£85002/240.14 mi-2
£90005/240.14 miGreyfriars Lane, Longbenton, Newcastle upon Tyne, Tyne and Wear, NE12 8SS2
£89505/240.2 mi-2
£98005/240.23 miChesters Avenue, Newcastle Upon Tyne, NE122
£98002/240.23 mi-2
£1,00002/240.23 mi-2
£1,00002/240.23 mi-2
£98002/240.23 mi-2
£86805/240.23 mi-2
£98003/250.23 mi-2
£68001/250.25 mi-2
£80012/240.27 miCharlotte Place, Longbenton, Newcastle upon Tyne, NE122
£85006/240.31 miChesters Avenue, Longbenton, NE122
£85006/240.32 miThirlwall Court, Longbenton2
£89512/240.34 mi-2
£85005/240.34 miAydon Gardens, Longbenton2
£80004/240.35 mi-2
£1,05003/250.36 mi-2
£87506/240.38 miCosgrove Court, Newcastle upon Tyne, Tyne and Wear, NE72
£89502/240.38 mi-2
£97012/240.38 mi-2
£87505/240.41 miHousesteads Gardens, Longbenton, Newcastle Upon Tyne, Tyne & Wear, NE122
£80006/240.41 mi-2
£89512/240.42 mi-2
£65003/240.44 mi-2
£97506/240.45 miManor Walk, Newcastle Upon Tyne2
£85001/250.47 mi-2
£80005/240.51 miWilliams Park, Benton, Newcastle upon Tyne, NE122
£85007/240.6 miCloister Garth, South Gosforth2

Local Area Statistics

Population in NE12

34,654

Population in Newcastle upon Tyne

381,037

Town centre distance

2.86 miles away

Nearest school

0.20 miles away

Nearest train station

0.28 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+24%

Sales demand

Seller's market

Capital growth (5yrs)

+9%

Property History

Listed for £79,950

-6%

October 7, 2024

Sold for £85,000

2009

Sold for £60,000

2004

Description

  • Chain free +
  • First floor flat +
  • Two double bedrooms +
  • Ideal purchase for a range of buyers +
  • Leasehold +
  • Close proximity to easy transport links +
  • Secure entry system +
  • EPC – C (79) +

Located in a quiet residential area of Long Benton, this spacious two-bedroom first-floor flat is available immediately with no onward chain, making it an excellent opportunity for first-time buyers and investors alike.

DESCRIPTION
The property comprises; entrance hallway, bright living room, a kitchen which is fitted with wall and base units, there is also a versatile dining room, which can be used for various purposes and benefits from a Juliet balcony. The flat includes two generously sized bedrooms and a separate bathroom, complete with a bath and overhead shower, WC, and handwash basin.
The property is accessed via secure communal access and benefits from shared parking.

TENURE
Leasehold – 99 years
Ground rent - £10 per annum

LOCATION
The property is situated in a convenient location, within easy access of transport links giving direct access to Newcastle City Centre.

SERVICES
Mains electricity, water and drainage are connected. Gas central throughout.

Agent Details

Bradley Hall Chartered Surveyors & Estate Agents, Gosforth

0191 625 0979

Next Steps?

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