3 Bed Semi-Detached House, Refurb/BRRR, Cramlington, NE23 2EJ, £110,000

22 Tangmere Close, Cramlington, Northumberland, NE23 2EJ - 2 views - 6 months ago

Sold STC
Motivated
Refurb/BRRR
ROI: 3%
~93 m²
+6 photos

ValuationFair Value

Sold Prices£85K - £245K
Sold Prices/m²£987/m² - £2.7K/m²

 

 

Square Metres

~93 m²
Price/m²£1.2K/m²

Value Estimate

£110,000

 

 

End Value (After Refurb)

£150,539

Uplift in Value

+37%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£27,500

Stamp Duty & Legal Fees

£4,500

Refurb Costs

£35,600

Bridging Loan Interest

£2,888

Total Cash In

£72,238

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£150,539

Mortgage (After Refinance)

£112,904

Mortgage LTV

75%

Cash Released

£30,404

Cash Left In

£41,833

Equity

£37,635

Rent Range

£795 - £950

Rent Estimate

£861

Running Costs/mo

£663

Cashflow/mo

£198

Cashflow/yr

£2,380

ROI

3%

Gross Yield

9%

Local Sold Prices

50 sold prices from £85K to £245K, average is £165K. £987/m² to £2.7K/m², average is £2.1K/m².

PriceDateDistanceAddressBeds 
£127K11/220.01 mi26, Tangmere Close, Cramlington, Northumberland NE23 2EJ3
£228K12/220.07 mi70, Porchester Drive, Cramlington, Northumberland NE23 2QH3
£177.5K01/210.12 mi103, Porchester Drive, Cramlington, Northumberland NE23 2QQ3
£145K12/220.15 mi98, Tindale Avenue, Cramlington, Northumberland NE23 2DB3
£100K08/210.16 mi36, Thirston Drive, Cramlington, Northumberland NE23 2BY3
£120K04/240.16 mi42, Thirston Drive, Cramlington, Northumberland NE23 2BY3
£123K12/230.16 mi4, Thirston Drive, Cramlington, Northumberland NE23 2BY3
£177K06/210.16 mi15, Orpington Road, Cramlington, Northumberland NE23 2YQ3
£190K03/210.16 mi31, Orpington Road, Cramlington, Northumberland NE23 2YQ3
£220K04/210.17 mi170, Ringwood Drive, Cramlington, Northumberland NE23 1NT3
£125K11/220.17 mi35, Tindale Avenue, Cramlington, Northumberland NE23 2BP3
£180K12/220.19 mi21, Purbeck Gardens, Cramlington, Northumberland NE23 2QG3
£191.5K07/230.19 mi15, Torwood Court, Cramlington, Northumberland NE23 2BZ3
£160K08/210.19 mi10, Torwood Court, Cramlington, Northumberland NE23 2BZ3
£85K09/230.2 mi42, Tindale Avenue, Cramlington, Northumberland NE23 2BS3
£97K01/210.2 mi32, Tindale Avenue, Cramlington, Northumberland NE23 2BS3
£235K08/210.23 mi42, Oxford Avenue, Eastfield Green, Cramlington, Northumberland NE23 2YL3
£175K07/210.23 mi15, Oakley Drive, Cramlington, Northumberland NE23 2YF3
£210K11/230.25 mi3, Oulton Close, Cramlington, Northumberland NE23 2YD3
£219.9K07/230.26 mi1, Poole Close, Cramlington, Northumberland NE23 2QB3
£220K09/230.26 mi10, Poole Close, Cramlington, Northumberland NE23 2QB3
£160K07/230.26 mi20, Portland Gardens, Cramlington, Northumberland NE23 2QD3
£215K08/240.26 mi4, Porchester Drive, Cramlington, Northumberland NE23 2QA3
£152K04/240.26 mi64, Mayfield Avenue, Cramlington, Northumberland NE23 2AA3
£140K05/210.29 mi25, Fernley Villas, Cramlington, Northumberland NE23 2AG3
£185K11/210.29 mi7, Oakley Drive, Cramlington, Northumberland NE23 2YB3
£170K10/230.29 mi1, Oakley Drive, Cramlington, Northumberland NE23 2YB3
£91K12/220.29 mi43, Allensgreen, Cramlington, Northumberland NE23 6SG3
£136.9K03/230.29 mi8, Oxford Avenue, Eastfield Green, Cramlington, Northumberland NE23 2YW3
£125K05/210.29 mi18, Oxford Avenue, Cramlington, Northumberland NE23 2YW3
£220K12/200.29 mi24, Oxford Avenue, Cramlington, Northumberland NE23 2YW3
£118.5K04/210.31 mi10, Olney Close, Cramlington, Northumberland NE23 2YN3
£130K02/240.31 mi16, Hexham Avenue, Cramlington, Northumberland NE23 2FG3
£142.5K11/230.31 mi4, Hexham Avenue, Cramlington, Northumberland NE23 2FG3
£128K05/210.32 mi13, Chatton Avenue, Cramlington, Northumberland NE23 6TA3
£135K05/240.32 mi40, Chatton Avenue, Cramlington, Northumberland NE23 6TA3
£135K11/230.32 mi24, Chipchase Avenue, Cramlington, Northumberland NE23 6TS3
£245K09/230.32 mi13, Northolt Avenue, Parkside Chase, Cramlington, Northumberland NE23 1RJ3
£180K04/210.32 mi22, Northolt Avenue, Cramlington, Northumberland NE23 1RJ3
£218K12/200.33 mi8, Knutsford Walk, Cramlington, Northumberland NE23 2XF3
£160K10/200.33 mi13, West Farm Court, Cramlington, Northumberland NE23 1AX3
£192K10/230.33 mi18, West Farm Court, Cramlington, Northumberland NE23 1AX3
£170K11/230.34 mi32, Village Road, Cramlington, Northumberland NE23 2AJ3
£145K08/210.34 mi31, Huntingdon Drive, Cramlington, Northumberland NE23 2FB3
£151K10/230.34 mi34, Huntingdon Drive, Cramlington, Northumberland NE23 2FB3
£195K11/230.35 mi44, Hazelmere Crescent, Cramlington, Northumberland NE23 2FJ3
£180K08/230.35 mi12, Nairn Road, Cramlington, Northumberland NE23 1RQ3
£234K03/230.35 mi37, Twyford Close, Cramlington, Northumberland NE23 1PH3
£212.5K01/230.36 mi14, Twyford Close, Cramlington, Northumberland NE23 1PH3
£120K05/240.36 mi22, Fareham Way, Cramlington, Northumberland NE23 1TD3

Local Rents

11 rents from £795/mo to £950/mo, average is £825/mo.

RentDateDistanceAddressBeds 
£79505/240.01 miTangmere Close, Cramlington3
£95005/240.12 miRingwood Drive, Cramlington, NE233
£82505/240.24 miOakley Drive, Cramlington, Northumberland, NE23 2YF3
£90006/240.25 miSouth View Place, Cramlington, Northumberland, NE233
£80006/240.32 miChipchase Avenue, Cramlington3
£80006/240.35 miChipchase Avenue, Cramlington, NE233
£95006/240.44 miFilton Close, Cramlington, Northumberland, NE23 1RZ3
£92508/240.47 mi-3
£92507/240.47 miDoddington Drive, Cramlington, NE233
£80007/240.54 mi-3
£80007/240.54 miKendal Drive, Cramlington, NE233

Local Area Statistics

Population in NE23

39,162

Population in Cramlington

39,226

Town centre distance

0.58 miles away

Nearest school

0.20 miles away

Nearest train station

0.87 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

-10%

Sales demand

Seller's market

Capital growth (5yrs)

+31%

Property History

Listed for £110,000

October 11, 2024

Sold for £30,000

1997

Floor Plans

Description

  • Council Tax Band A, Freehold, +
  • Chain Free +
  • Spacious Living Room +
  • Separate Dining Room +
  • Fitted Kitchen +
  • Three Bedrooms +
  • Family Bathroom +
  • Off Road Parking +
  • Convenient Location +
  • Viewing Advised +

This Chain Free 3 bedroom semi detached property is available for immediate viewing. Needing minimal modernisation to transform into a lovely family home.

This semi detached home is located in Cramlington with close proximity to a range of amenities, schools, shopping facilities, food/drink establishments and more. The area also offers excellent road and transport links for travel both locally and further afield.

The accommodation briefly comprises a welcoming entrance way, a spacious living room, dining room and a fitted kitchen.

To the first floor is an inviting landing area through to three well-proportioned bedrooms and a three-piece bathroom with a tub-shower combination, a hand wash basin and a WC.

Externally, the property benefits from off road parking to the front and a rear garden.

This home is an excellent find. We anticipate a high amount of interest and as such we would recommend that any interested buyers inquire to arrange a viewing at the earliest convenience to ensure the opportunity is not missed.

Premium Fast Sale

The innovative Premium Fast Sale Plus method from Springbok Properties is a secure and straightforward way to buy property. It works like a typical sale, with a number of added benefits to the buyer.

Benefits

o Carefully implemented security measures
o A speedy process
o Realistically priced properties
o A Buy it Now option (ask for further information on this feature from our advisors)
o A significantly reduced chance of fall-throughs
o No risk of being "gazumped"
o The full focus of our highly motivated team

Springbok Properties' Premium Fast Sale Plus puts you in the driving seat thanks to our fast and secure methods.

All properties are competitively priced and carefully managed by motivated sellers for a quick, stress-free transaction.

Deposit

Sales can be secured with a reservation deposit of £5,000. This forms part of the final purchase price and is NOT an extra cost.

This deposit ensures that the property is taken off the market as soon as a sale is agreed. It is then exclusively reserved for you, eliminating gazumping, time wasting and financial loss.

An administration fee of £396 is required in order to draw up an exclusive legally binding contract between the buyer and seller. This gives the buyer exclusive rights to purchase within a pre-agreed timeframe.

Exclusivity

Following the payment of the above amount, Springbok Properties will facilitate a fixed exclusivity period (approximately 12 weeks). During this time, surveys should be arranged and preparations made for the exchange of contracts. The property will be reserved, so there will be no risk of gazumping.

Process

Our Premium Fast Sale Plus follows the below process:

STEP 1 - Register your interest
STEP 2 - Prepare your finances for the purchase
STEP 3 - Arrange a viewing
STEP 4 - Make an offer
STEP 5 - Secure your sale using our secure system
STEP 6 - Exchange and complete

Don't miss out on the chance to purchase this property. Call us today for further information and to arrange a viewing.

If you're interested in this property, we urge you to contact us immediately to arrange an early viewing and get the process started. This will help you to avoid missing out on this opportunity.

Springbok Properties' innovative Premium Fast Sale Plus is a secure and straightforward way to buy property.

Please note: to ensure the highest level of customer service, all calls may be recorded and monitored for training and quality purposes.

Please call us now to book an appointment.

We highly recommend early viewing as this property is priced relatively low and is likely to generate quite an interest.

Please call us now to book an appointment.

Call Recording

Please note to ensure the highest level of customer service, all calls may be recorded and monitored for training and quality purposes.

Disclaimer

Springbok Properties for itself and the Vendors or lessors of properties for whom they act give notice that:

The details shown on this website are a general outline for the guidance of intending purchasers, and do not constitute, nor constitute part of, an offer or contract or sales particulars. All descriptions, dimensions, references to condition and other details are given in good faith and are believed to be correct but any intending purchasers should not rely on them as statements or representations of fact but must satisfy themselves by inspection, searches, survey, enquiries or otherwise as to their correctness. We have not been able to test any of the building service installations and recommend that prospective purchasers arrange for a qualified person to check them before entering into any commitment. Further, any reference to, or use of any part of the properties is not a statement that any necessary planning, building regulations or other consent has been obtained. All photographs shown are indicative and cannot be guaranteed to represent the complete interior scheme or items included in the sale. No person in our employment has any authority to make or give any representation or warranty whatsoever in relation to this property.

TENURE

To be confirmed by the Vendor's Solicitors

Note

The price given is a marketing price and not an indication of the property's market value. The vendor like any seller is looking to achieve the maximum price possible. Hence, by making an enquiry on this property, you recognise and understand that this property is strictly offers in excess of the marketing price provided.

How to View this Property

Viewing is strictly by appointment please call us now for bookings.

AML REGULATIONS & PROOF OF FUNDING: Any proposed purchasers will be asked to provide identification and proof of funding before any offer is accepted. We would appreciate your co-operation with this to ensure there are no delays in agreeing the sale.

Agent Details

Springbok Properties, Nationwide

0161 416 6302

Next Steps?

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