2 Bed Flat, Single Let, Washington, NE38 0HZ, £69,950

Lumley Close, Washington, NE38 0HZ - 6 months ago

Leasehold

BTL

ROI: 13%

~68 m²

+1 photos

ValuationUndervalued

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

Square Metres	~68.11 m²
Price/m²	£1K/m²
Value Estimate	£78,181£78,181
BMV	12%

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£17,488£17,488
Stamp Duty & Legal Fees	£4,698£4,698
Total Cash In	£22,185£22,185

Cash Out
Rent Range	£595 - £2,200£595 - £2,200
Rent Estimate	£598
Running Costs/mo	£358£358
Cashflow/mo	£240£240
Cashflow/yr	£2,878£2,878
ROI	13%13%
Gross Yield	10%10%

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
£52.5K	08/22	0 mi	116, Lumley Close, Washington, Tyne And Wear NE38 0HZ	£833	63	2	Flat
£70K	06/23	0 mi	131, Lumley Close, Washington, Tyne And Wear NE38 0HZ	-	-	2	Flat
£60K	01/23	0.09 mi	9, Lumley Close, Washington, Tyne And Wear NE38 0HX	£984	61	2	Flat
£55K	06/22	0.12 mi	8, Dunstanburgh Close, Washington, Tyne And Wear NE38 0JE	£1,122	49	2	Flat
£52K	08/23	0.14 mi	98, Bamburgh Close, Washington, Tyne And Wear NE38 0HR	£867	60	2	Flat
£55K	10/22	0.17 mi	13, Witton Court, Washington, Tyne And Wear NE38 0JH	-	-	2	Flat
£40K	12/20	0.17 mi	15, Witton Court, Washington, Tyne And Wear NE38 0JH	£653	61	2	Flat
£50K	08/22	0.18 mi	48, Warkworth Close, Washington, Tyne And Wear NE38 0JN	£833	60	2	Flat
£72.5K	07/23	0.26 mi	89, Dilston Close, Washington, Tyne And Wear NE38 0HE	-	-	2	Flat
£85K	06/23	0.26 mi	87, Dilston Close, Washington, Tyne And Wear NE38 0HE	£1,735	49	2	Flat
£80.5K	10/22	0.45 mi	6, Drumaldrace, Washington, Tyne And Wear NE37 1SR	-	-	2	Flat
£85K	09/23	0.45 mi	55, Grizedale, Washington, Tyne And Wear NE37 1TZ	£1,667	51	2	Flat
£63.1K	11/20	0.47 mi	3, Drumaldrace, Washington, Tyne And Wear NE37 1SR	£1,539	41	2	Flat
£72.5K	02/23	0.47 mi	24, Drumaldrace, Washington, Tyne And Wear NE37 1SR	£24,167	3	2	Flat
£43K	04/21	0.48 mi	49, Newstead Court, Washington, Tyne And Wear NE38 7PF	£729	59	2	Flat
£59.5K	02/21	0.49 mi	8, Lingmell, Washington, Tyne And Wear NE37 1TN	£1,102	54	2	Flat
£50K	11/22	0.51 mi	1, Lingmell, Washington, Tyne And Wear NE37 1TN	-	-	2	Flat
£79.5K	07/22	0.56 mi	64, Lingmell, Washington, Tyne And Wear NE37 1TT	-	-	2	Flat
£80K	11/22	0.59 mi	34, Mickley Close, Willington Quay, Wallsend, Tyne And Wear NE28 6JJ	£941	85	2	Flat
£40K	06/23	0.62 mi	14, Mardale, Washington, Tyne And Wear NE37 1TH	-	-	2	Flat
£70K	08/23	0.67 mi	34, Westernmoor, Washington, Tyne And Wear NE37 1LP	£1,129	62	2	Flat
£74K	04/23	0.67 mi	8, Fell Close, Washington, Tyne And Wear NE37 1AX	-	-	2	Flat
£70K	06/21	0.68 mi	19, Biddick Village Centre, Washington, Tyne And Wear NE38 7NP	£1,167	60	2	Flat
£82K	03/23	0.68 mi	35, Biddick Village Centre, Washington, Tyne And Wear NE38 7NP	-	-	2	Flat
£97.5K	08/22	0.7 mi	14, Burtree, Washington, Tyne And Wear NE38 0RA	£1,950	50	2	Flat
£75K	07/23	0.72 mi	40, Pendle Close, Washington, Tyne And Wear NE38 0PZ	£1,271	59	2	Flat
£90K	07/22	0.74 mi	29, Chacombe, Washington, Tyne And Wear NE38 7HB	£2,143	42	2	Flat
£96.5K	07/23	0.74 mi	31, Chacombe, Washington, Tyne And Wear NE38 7HB	£1,915	50	2	Flat
£60K	09/22	0.77 mi	23, Pendle Close, Washington, Tyne And Wear NE38 0PZ	£1,250	48	2	Flat
£71K	10/21	0.77 mi	2, Teal Close, Washington, Tyne And Wear NE38 0EA	£1,065	67	2	Flat
£62K	05/23	0.8 mi	10, Brackenway, Washington, Tyne And Wear NE37 1AW	£1,550	40	2	Flat
£60K	09/22	0.8 mi	8, Brackenway, Washington, Tyne And Wear NE37 1AW	£1,071	56	2	Flat
£67.5K	03/21	0.81 mi	5, Musgrave Terrace, Washington, Tyne And Wear NE38 7HR	£1,071	63	2	Flat
£275K	12/20	0.82 mi	20, Liberty Green, Washington, Tyne And Wear NE38 7UA	£1,884	146	2	Flat
£75K	08/22	0.83 mi	11, Sandpiper Close, Washington, Tyne And Wear NE38 0EG	£1,210	62	2	Flat
£67.5K	03/21	0.85 mi	5, Musgrave Terrace, Washington, Tyne And Wear NE38 7HR	£1,071	63	2	Flat
£72K	09/22	0.89 mi	17, Emmerson Terrace, Washington, Tyne And Wear NE38 7LN	£515	140	2	Flat
£71K	01/23	0.9 mi	37, Burnway, Washington, Tyne And Wear NE37 1BQ	£1,325	54	2	Flat
£72.5K	12/23	0.91 mi	30, Burnway, Washington, Tyne And Wear NE37 1BQ	£1,343	54	2	Flat
£67K	12/23	0.91 mi	40, Burnway, Washington, Tyne And Wear NE37 1BQ	-	-	2	Flat

Local Rents

15 rents from £595/mo to £2.2K/mo, average is £650/mo.

Rent	Date	Distance	Address	Beds	Type
£595	12/24	0.11 mi	Lumley Close, Washington, Tyne and Wear, NE38 0HX	2	Flat
£2,200	06/24	0.13 mi	-	2	Flat
£2,200	06/24	0.13 mi	-	2	Flat
£2,200	02/25	0.13 mi	-	2	Flat
£2,200	03/25	0.13 mi	-	2	Flat
£625	03/25	0.25 mi	-	2	Flat
£600	12/24	0.28 mi	Mitford Close, Oxclose, Washington, NE38	2	Flat
£650	07/24	0.29 mi	62 Stridingedge	2	Bungalow
£595	12/24	0.31 mi	-	2	Flat
£795	11/24	0.44 mi	-	2	Semi-Detached House
£625	03/25	0.47 mi	-	2	Flat
£760	04/25	0.51 mi	-	2	Semi-Detached House
£625	05/24	0.56 mi	-	2	Flat
£625	05/24	0.59 mi	-	2	Flat
£825	04/24	0.6 mi	-	2	Semi-Detached House

Local Area Statistics

Population in NE38	31,23231,232
Population in Washington	52,26452,264
Town centre distance	0.70 miles away0.70 miles away
Nearest school	0.20 miles away0.20 miles away
Nearest train station	3.43 miles away3.43 miles away

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

Property History

Listed for £69,950

October 8, 2024

Floor Plans

Description

FIRST FLOOR FLAT +
TWO DOUBLE BEDROOMS +
SPACIOUS LOUNGE +
BREAKFASTING KITCHEN +
REFITTED BATHROOM +
BALCONY +
OFFERED WITH ONE 12 MONTHS SERVICE CHARGE PAID +
OFFERED WITH NO UPPER CHAIN +
CALL TO ARRANGE YOUR VIEWING +

Swift Moves AWARD WINNING Estate Agents offer this spacious first floor flat is situated on Lumley Close. Perfect for those taking their first steps onto the property ladder, or an investment opportunity, offered to the market with an affordable price tag.Well presented throughout, this lovely home boasts spacious rooms and comprises an entrance lobby leading into the internal hallway, lounge with balcony, two good sized bedrooms, a kitchen/diner and a stylish refitted bathroom. The property is accessed via and secure entry system and has well maintained communal areas. There is an allocated parking bay to the property.In a great, central location within walking distance to a range of shops and amenities at The Galleries. Washington highway provides quick access links to the A1 for those needing to commute to surrounding areas. There is a choice of good local primary schools and parks near by. Washington Leisure centre with gym and swimming pool is also just a 10 minute walk away.The property can be offered with NO UPPER CHAIN. Viewings come highly recommended to appreciate space on offer.

Agent Details

Swift Moves, Washington

0191 625 0866

Next Steps?

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