3 Bed Flat, Single Let, Chester-le-Street, DH3 1EB, £60,000

Queen Street, Birtley, DH3 1EB - 6 months ago

Leasehold
BTL
ROI: 23%
~93 m²
+2 photos

ValuationUndervalued

Sold Prices£50K - £375K
Sold Prices/m²£658/m² - £4.4K/m²

 

 

Square Metres

~93 m²
Price/m²£645/m²

Value Estimate

£75,000
BMV25%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£15,000

Stamp Duty & Legal Fees

£4,200

Total Cash In

£19,200

 

 

Cash Out

 

Rent Range

£600 - £3,300

Rent Estimate

£728

Running Costs/mo

£353

Cashflow/mo

£375

Cashflow/yr

£4,499

ROI

23%

Gross Yield

15%

Local Sold Prices

18 sold prices from £50K to £375K, average is £99K. £658/m² to £4.4K/m², average is £1.9K/m².

PriceDateDistanceAddressBeds 
£75K06/230.04 mi53, Morris Street, Birtley, Chester Le Street, Tyne And Wear DH3 1DX3
£128K06/210.09 mi14, Pine Street, Birtley, Chester Le Street, Tyne And Wear DH3 1ES3
£50K12/221.66 mi69, Bamburgh Close, Washington, Tyne And Wear NE38 0HP3
£56K07/231.71 mi40, Warkworth Close, Washington, Tyne And Wear NE38 0JN3
£76K06/231.84 mi1, Capstan Court, Gateshead, Tyne And Wear NE9 7JZ3
£80K12/222.18 mi108, Springwell Road, Wrekenton, Gateshead, Tyne And Wear NE9 7AA3
£110K06/232.2 mi27, Pinewood Avenue, Washington, Tyne And Wear NE38 9AY3
£78.5K06/212.21 mi19, Whitburn Gardens, Gateshead, Tyne And Wear NE9 7BB3
£160.5K07/232.51 mi45, Worley Avenue, Gateshead, Tyne And Wear NE9 6AL3
£162K09/222.51 mi16, Worley Avenue, Gateshead, Tyne And Wear NE9 6AL3
£63K02/212.54 mi109, Spout Lane, Washington, Tyne And Wear NE37 2UD3
£91K09/222.66 mi29, Heatherlaw, Gateshead, Tyne And Wear NE9 6RY3
£120.5K10/222.74 mi15, Southend Road, Gateshead, Tyne And Wear NE9 6XR3
£95K03/232.76 mi1, Glen Terrace, Washington, Tyne And Wear NE38 7AY3
£375K06/212.9 miHeather Ridge, Craghead Road, Pelton Fell, Chester Le Street, County Durham DH2 2NU3
£130K04/212.97 mi5, Villa View, Gateshead, Tyne And Wear NE9 5SR3
£124K01/212.99 mi3, Florence Avenue, Gateshead, Tyne And Wear NE9 5SQ3
£103K04/212.99 mi15, Florence Avenue, Gateshead, Tyne And Wear NE9 5SQ3

Local Rents

10 rents from £600/mo to £3.3K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£75012/240 mi-3
£60012/240.04 miMorris Street, DH33
£3,30002/250.09 mi-3
£1,19512/240.53 miSycamore Crescent, Birtley, Chester Le Street3
£1,10012/240.64 miRobsons Way, Birtley, DH33
£79512/240.77 miPolperro Close, DH33
£1,50012/240.77 miThe Hollys, Birtley, DH33
£1,20012/241.06 mi-3
£1,50003/251.06 mi-3
£72512/241.18 miSuffolk Place, Birtley, Chester Le Street, County Durham, DH33

Local Area Statistics

Population in DH3

25,797

Population in Chester-le-Street

56,377

Town centre distance

2.69 miles away

Nearest school

0.20 miles away

Nearest train station

2.90 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

+13%

Sales demand

Balanced market

Capital growth (5yrs)

-3%

Property History

Price changed to £60,000

February 4, 2025

Price changed to £65,000

November 22, 2024

Listed for £70,000

October 8, 2024

Description

  • The property is Leasehold with a term of 999 years from 6th December 2004. +
  • Fantastic Investment Opportunity +
  • Convienent for Local Amenities +
  • Excellent Transport Links +
  • Situated in the Heart of Birtley +
  • Spacious Lounge & Functional Kitchen +
  • Reference: 413034 +

A First Floor Flat located in the heart of Birtley on Queen Street, offering convenience and accessibility to local amenities, shops, and excellent transport links. The accommodation includes an entrance lobby with stairs leading to a first floor landing, a spacious lounge, a functional kitchen, three generously sized bedrooms, and a modern bathroom. Externally, there is a shared rear yard, providing outdoor space. This property presents a fantastic investment opportunity or an ideal first step onto the property ladder. Viewing recommended.
ENTRANCE LOBBY
Stairs to first floor landing.
FIRST FLOOR LANDING

LOUNGE 4.1m (13'5) measured to chimney breast x 3.6m (11'10)
Wall mounted modern fire, alcoves, window to the rear. Radiator.
KITCHEN
Range of wall and floor units with wotk surfaces above. Stainless steel sink unit. Window to the side and door to the rear.
BATHROOM
Panelled bath with shower over, low level w.c., pedestal wash hand basin. Radiator and window to the rear.
FRONT BEDROOM 3.84m (12'7) x 3.69m (12'1)
Window to the front and radiator.
FRONT BEDROOM 2.64m (8'8) x 2.6m (8'6) max
Window to the front and radiator.
REAR BEDROOM 2.77m (9'1) x 2.67m (8'9)
Window to the rear and radiator.
EXTERNALLY
Shared yard to the rear.
Tenure
The property is Leasehold with a term of 999 years from 6th December 2004.
The Agent Of The North
Andrew Craig is The Agent of the North and as Chartered Surveyors we can help you with all your Residential and Commercial property needs. Sales, Conveyancing, Lettings, Property Management, Surveys and Valuations. Call now on
Disclaimer
The information provided about this property does not constitute or form part of an offer or contract, nor may it be regarded as representations. All interested parties must verify accuracy and your solicitor must verify tenure and lease information, fixtures and fittings and, where the property has been recently constructed, extended or converted, that planning/building regulation consents are in place. All dimensions are approximate and quoted for guidance only, as are floor plans which are not to scale and their accuracy cannot be confirmed. Reference to appliances and/or services does not imply that they are necessarily in working order or fit for purpose. We offer our clients an optional conveyancing service, through panel conveyancing firms, via Move With Us and we receive on average a referral fee of one hundred and ninety four pounds, only on completion of the sale. If you do use this service, the referral fee is included within the amount that you will be quoted by our suppliers. All quotes will also provide details of referral fees payable.

EPC Rating: C
Money Laundering Regulations
Please note that any offers will require you to be financially verified, meaning you'll need to provide us sight of a mortgage in principle, proof of deposit funds, and proof of cash. You'll also need to provide us with full chain details including agents and solicitors down the chain. To comply with Money Laundering Regulations all buyers will be required to provide us with proof of identification before we can issue acceptance letters and solicitors are instructed.
Broadband & Mobile Coverage
The Ofcom website states the average broadband download speed of 19 Mbps and a maximum download speed of 1000 Mbps at this postcode: DH3 1EB and mobile coverage is provided by EE, Three, O2, Vodafone. The checker results are predictions and should not be regarded as guaranteed.
Council Tax
The GOV.UK website states the property is Council Tax Band:

Agent Details

Andrew Craig, Low Fell

0191 625 0115

Next Steps?

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