6 Bed HMO, Newcastle upon Tyne, NE2 3LB, £600,000

231 Osborne Road, Newcastle Upon Tyne, Tyne And Wear, NE2 3LB - 1 views - 6 months ago

Sold STC
HMO
157 m²
+12 photos

ValuationOvervalued

Sold Prices£196.8K - £4.8M
Sold Prices/m²£1.6K/m² - £7.5K/m²

 

 

Square Metres

157 m²
Price/m²£3.8K/m²

Value Estimate

£511,168

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£150,000

Stamp Duty & Legal Fees

£36,700

Total Cash In

£186,700

 

 

Cash Out

 

Room Rate

£563

Gross Rent

£3,378

Running Costs/mo

£3,336

Cashflow/mo

£42

Cashflow/yr

£508

ROI

0%

Gross Yield

7%

Local Sold Prices

34 sold prices from £196.8K to £4.8M, average is £747.8K. £1.6K/m² to £7.5K/m², average is £3.2K/m².

PriceDateDistanceAddressBeds 
£421K07/230.01 mi253, Osborne Road, Newcastle Upon Tyne, Tyne And Wear NE2 3LB6
£1.6M10/220.06 mi41, Mitchell Avenue, Newcastle Upon Tyne, Tyne And Wear NE2 3JY6
£1.1M09/230.12 mi25, Mitchell Avenue, Newcastle Upon Tyne, Tyne And Wear NE2 3JY6
£1.1M09/230.12 mi27, Mitchell Avenue, Newcastle Upon Tyne, Tyne And Wear NE2 3JY6
£575K04/240.17 mi14, Moorfield, High West Jesmond, Newcastle Upon Tyne, Tyne And Wear NE2 3NJ6
£1.2M12/220.21 mi1, Mitchell Avenue, Newcastle Upon Tyne, Tyne And Wear NE2 3JY6
£425K10/220.22 mi19, Ilford Road, Newcastle Upon Tyne, Tyne And Wear NE2 3NX6
£950K01/230.23 miOakland House, Moorfield, High West Jesmond, Newcastle Upon Tyne, Tyne And Wear NE2 3NL6
£725K11/210.24 mi2, North Jesmond Avenue, Newcastle Upon Tyne, Tyne And Wear NE2 3JX6
£465K06/210.26 mi22, Treherne Road, Newcastle Upon Tyne, Tyne And Wear NE2 3NP6
£551K01/210.33 mi21, Sanderson Road, Newcastle Upon Tyne, Tyne And Wear NE2 2DR6
£770K02/230.35 mi19, Sanderson Road, Newcastle Upon Tyne, Tyne And Wear NE2 2DR6
£4.8M11/210.4 mi5, Adderstone Crescent, Newcastle Upon Tyne, Tyne And Wear NE2 2HH6
£4.8M11/210.43 mi5, Adderstone Crescent, Newcastle Upon Tyne, Tyne And Wear NE2 2HH6
£651K11/200.43 mi2, Rectory Drive, Gosforth, Newcastle Upon Tyne, Tyne And Wear NE3 1XU6
£770K01/230.55 mi2, Tankerville Place, Newcastle Upon Tyne, Tyne And Wear NE2 3AT6
£255K09/230.59 mi53, Cavendish Place, Newcastle Upon Tyne, Tyne And Wear NE2 2NE6
£725.5K12/230.61 mi7, Rectory Terrace, Newcastle Upon Tyne, Tyne And Wear NE3 1XY6
£596.5K05/210.63 mi43, Fern Avenue, Jesmond, Newcastle Upon Tyne, Tyne And Wear NE2 2QU6
£995K09/230.68 mi17, Osborne Avenue, Newcastle Upon Tyne, Tyne And Wear NE2 1JQ6
£874.7K03/210.71 mi12, West Avenue, Gosforth, Newcastle Upon Tyne, Tyne And Wear NE3 4ES6
£710K12/210.73 mi37, Eslington Terrace, Newcastle Upon Tyne, Tyne And Wear NE2 4RN6
£906.8K03/240.74 mi7, Kingsland, Newcastle Upon Tyne, Tyne And Wear NE2 3AL6
£460K11/210.77 mi33, Church Road, Gosforth, Newcastle Upon Tyne, Tyne And Wear NE3 1UE6
£502.5K12/200.77 mi47, Church Road, Gosforth, Newcastle Upon Tyne, Tyne And Wear NE3 1UE6
£289K06/210.79 mi82, Shortridge Terrace, Newcastle Upon Tyne, Tyne And Wear NE2 2JH6
£1.3M06/220.83 mi2, Fenwick Terrace, Newcastle Upon Tyne, Tyne And Wear NE2 2JQ6
£975K11/200.83 mi2, Wilson Gardens, Newcastle Upon Tyne, Tyne And Wear NE3 4JA6
£975K02/230.83 mi34, Wilson Gardens, Newcastle Upon Tyne, Tyne And Wear NE3 4JA6
£415K09/230.84 mi16, Rothwell Road, Newcastle Upon Tyne, Tyne And Wear NE3 1TY6
£445K04/210.84 mi8, Rothwell Road, Newcastle Upon Tyne, Tyne And Wear NE3 1TY6
£196.8K12/210.86 mi57, Shortridge Terrace, Newcastle Upon Tyne, Tyne And Wear NE2 2JE6
£830K11/200.93 mi5, Brandling Park, Newcastle Upon Tyne, Tyne And Wear NE2 4QA6
£791K03/210.93 mi3, Brandling Park, Newcastle Upon Tyne, Tyne And Wear NE2 4QA6

Local Area Statistics

Population in NE2

27,709

Population in Newcastle upon Tyne

381,037

Town centre distance

2.07 miles away

Nearest school

0.40 miles away

Nearest train station

0.17 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+6%

Sales demand

Seller's market

Capital growth (5yrs)

+15%

Property History

Listed for £600,000

October 15, 2024

Sold for £275,000

2008

Description

  • HMO three storey house +
  • 6 Bedrooms +
  • Front and rear garden +
  • Tenanted until Summer 2025 +
  • EPC rating D +
  • Council tax D +
  • Freehold +

Presenting an exceptional opportunity for property investment, we have a semi-detached house listed for sale. This property boasts a well-structured layout, accommodating six double bedrooms, providing ample space and comfort for tenants.

The heart of the house is the breakfasting kitchen, a perfect space for tenants to gather and enjoy meals together. A single but spacious reception room adds to the charm of the property, featuring a classic fireplace, offering a cosy and warm setting for those chilly winter evenings.

The property is currently tenanted until September 2025, achieving a profitable rent of £3380 per calendar month, making it an excellent prospect for those seeking a steady income stream. Designed with an HMO setup, this house is ideally suited for student tenants, making it a strategic buy considering the location. 

Outdoors, a garden offers a calm and serene corner for tenants to unwind and relax, providing a touch of nature amidst the urban setting. The location of the property is a major advantage, with easy access to public transport links. This ensures that the daily commute for tenants is as hassle-free as possible, and amenities are just a short journey away. 

This substantial property promises a unique investment opportunity, offering an impressive blend of space, comfort, and strategic location. Its potential for high rental income makes it a must-consider for all serious property investors.

PRIMARY SERVICES SUPPLY
Electricity: MAINS
Water: MAINS
Sewerage: MAINS
Heating: GAS CENTRAL HEATING
Broadband: FIBRE
Mobile Signal Coverage Blackspot: NO
Parking: ON STREET PARKING MINING: 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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