2 Bed Flat, Single Let, Newcastle upon Tyne, NE6 2RP, £50,000

Grace Street, Byker, Newcastle upon Tyne, Tyne and Wear, NE6 2RP - 5 months ago

Leasehold
Auction
BTL
ROI: 25%
~68 m²
+4 photos

ValuationUndervalued

Sold Prices£36K - £186K
Sold Prices/m²£556/m² - £2.7K/m²

 

 

Square Metres

~68.11 m²
Price/m²£734/m²

Value Estimate

£62,500
BMV25%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£12,500

Stamp Duty & Legal Fees

£3,700

Total Cash In

£16,200

 

 

Cash Out

 

Rent Range

£550 - £3,500

Rent Estimate

£650

Running Costs/mo

£306

Cashflow/mo

£344

Cashflow/yr

£4,125

ROI

25%

Gross Yield

16%

Local Sold Prices

50 sold prices from £36K to £186K, average is £79K. £556/m² to £2.7K/m², average is £1.4K/m².

PriceDateDistanceAddressBeds 
£40K12/200.04 mi332, Grace Street, Newcastle Upon Tyne, Tyne And Wear NE6 2RP2
£50K03/210.09 mi221, Scarborough Road, Newcastle Upon Tyne, Tyne And Wear NE6 2RX2
£45K11/220.1 mi299, Benson Road, Newcastle Upon Tyne, Tyne And Wear NE6 2SE2
£57.5K01/230.13 mi2a, Dunmorlie Street, Newcastle Upon Tyne, Tyne And Wear NE6 2JL2
£40.8K01/210.13 mi3, Dunmorlie Street, Newcastle Upon Tyne, Tyne And Wear NE6 2JL2
£54K12/200.16 mi64, Gillies Street, Newcastle Upon Tyne, Tyne And Wear NE6 2JP2
£55.2K11/230.17 mi5, Cullercoats Street, Newcastle Upon Tyne, Tyne And Wear NE6 2JA2
£36K02/210.2 mi327, Benson Road, Newcastle Upon Tyne, Tyne And Wear NE6 2SH2
£41.8K05/210.2 mi365, Benson Road, Newcastle Upon Tyne, Tyne And Wear NE6 2SH2
£100K07/230.21 mi94, Fossway, Newcastle Upon Tyne, Tyne And Wear NE6 4QZ2
£50K03/210.25 mi34, Emily Street, Newcastle Upon Tyne, Tyne And Wear NE6 2QY2
£45.8K01/210.38 mi115, Clydesdale Road, Newcastle Upon Tyne, Tyne And Wear NE6 2EQ2
£65K12/230.38 mi249, Ayton Street, Newcastle Upon Tyne, Tyne And Wear NE6 2DD2
£62K10/200.38 mi215, Commercial Road, Byker, Newcastle Upon Tyne, Tyne And Wear NE6 2ED2
£58K08/230.44 mi5, Relton Avenue, Newcastle Upon Tyne, Tyne And Wear NE6 2TH2
£55K09/210.48 mi103, Allendale Road, Newcastle Upon Tyne, Tyne And Wear NE6 2SX2
£93K05/230.48 mi20, Denmark Court, Newcastle Upon Tyne, Tyne And Wear NE6 2UG2
£86.2K06/230.5 mi8, Brough Street, Newcastle Upon Tyne, Tyne And Wear NE6 5EX2
£77K12/200.54 mi71, Julian Avenue, Newcastle Upon Tyne, Tyne And Wear NE6 4RJ2
£77K12/200.54 mi71, Julian Avenue, Newcastle Upon Tyne, Tyne And Wear NE6 4RJ2
£54.5K06/230.56 mi149, Allendale Road, Newcastle Upon Tyne, Tyne And Wear NE6 2SY2
£112K01/230.58 mi14, Walpole Street, Newcastle Upon Tyne, Tyne And Wear NE6 4RL2
£83K05/230.58 mi13, Walpole Street, Newcastle Upon Tyne, Tyne And Wear NE6 4RL2
£60K05/230.6 mi47, Chatsworth Gardens, St Anthonys, Newcastle Upon Tyne, Tyne And Wear NE6 2TN2
£60K06/210.6 mi54, Kentmere Avenue, Newcastle Upon Tyne, Tyne And Wear NE6 4HE2
£110K05/240.61 mi4, Cheltenham Terrace, Newcastle Upon Tyne, Tyne And Wear NE6 5HR2
£75K12/230.62 mi8, Marondale Avenue, Newcastle Upon Tyne, Tyne And Wear NE6 4HJ2
£142K10/210.63 mi5, Spencer Street, Newcastle Upon Tyne, Tyne And Wear NE6 5BY2
£155K06/230.65 mi17, Marleen Avenue, Newcastle Upon Tyne, Tyne And Wear NE6 5DN2
£105K12/200.65 mi46, Marleen Avenue, Newcastle Upon Tyne, Tyne And Wear NE6 5DN2
£100K02/210.66 mi42, Stannington Place, Newcastle Upon Tyne, Tyne And Wear NE6 5HT2
£40K01/210.66 mi876, Shields Road, Newcastle Upon Tyne, Tyne And Wear NE6 4QP2
£81K01/230.66 mi886, Shields Road, Newcastle Upon Tyne, Tyne And Wear NE6 4QP2
£70K03/240.67 mi18, Borrowdale Avenue, Newcastle Upon Tyne, Tyne And Wear NE6 4HL2
£87K10/230.67 mi6, Keebledale Avenue, Newcastle Upon Tyne, Tyne And Wear NE6 4HS2
£73K12/220.67 mi79, Eastbourne Avenue, Newcastle Upon Tyne, Tyne And Wear NE6 4DT2
£125K01/230.68 mi42, Stannington Place, Newcastle Upon Tyne, Tyne And Wear NE6 5HT2
£172K12/230.69 mi164, Rothbury Terrace, Newcastle Upon Tyne, Tyne And Wear NE6 5DD2
£130K03/210.69 mi207, Rothbury Terrace, Newcastle Upon Tyne, Tyne And Wear NE6 5DD2
£115K12/220.7 mi47, Foundry Court, Newcastle Upon Tyne, Tyne And Wear NE6 1UG2
£106K05/210.7 mi309, Rothbury Terrace, Newcastle Upon Tyne, Tyne And Wear NE6 5DE2
£128.5K04/230.7 mi210, Rothbury Terrace, Newcastle Upon Tyne, Tyne And Wear NE6 5DE2
£85.8K06/230.7 mi45, Foundry Court, Newcastle Upon Tyne, Tyne And Wear NE6 1UG2
£95K11/220.7 mi26, Foundry Court, Newcastle Upon Tyne, Tyne And Wear NE6 1UG2
£133K05/210.71 mi38, Balmoral Terrace, Heaton, Newcastle Upon Tyne, Tyne And Wear NE6 5YA2
£125.5K01/210.71 mi56, Balmoral Terrace, Heaton, Newcastle Upon Tyne, Tyne And Wear NE6 5YA2
£182K12/230.73 mi218, Simonside Terrace, Newcastle Upon Tyne, Tyne And Wear NE6 5DR2
£130K11/200.73 mi266, Simonside Terrace, Newcastle Upon Tyne, Tyne And Wear NE6 5DR2
£77K11/220.73 mi119, Westbourne Avenue, Walkergate, Newcastle Upon Tyne, Tyne And Wear NE6 4HP2
£186K10/230.73 mi35, St Peters Wharf, Newcastle Upon Tyne, Tyne And Wear NE6 1TW2

Local Rents

37 rents from £550/mo to £3.5K/mo, average is £700/mo.

RentDateDistanceAddressBeds 
£65006/240 miGrace Street, Walker, Newcastle upon Tyne, Tyne and Wear, NE6 2RP2
£69502/250.08 mi-2
£59005/240.09 miBenson Road, Newcastle Upon Tyne, NE62
£62502/250.1 mi-2
£62510/240.1 mi-2
£61512/240.12 mi-2
£70006/240.16 miHarriet Street, Byker, Newcastle Upon Tyne2
£70007/240.16 miHarriet Street, Byker, Newcastle Upon Tyne2
£60005/240.16 mi-2
£55006/240.17 miCanterbury Street, Newcastle Upon Tyne, NE62
£55007/240.17 mi-2
£70006/240.25 miScarborough Road, Byker, Newcaslte Upon Tyne2
£70007/240.25 miScarborough Road, Byker, Newcaslte Upon Tyne2
£70007/240.25 miScarborough Road, Byker, Newcaslte Upon Tyne2
£72505/240.3 miWelbeck Mews, Walker, NE62
£78006/240.36 mi-2
£55006/240.38 miClydesdale Road, Newcastle Upon Tyne2
£1,15006/240.38 mi-2
£69511/240.47 mi-2
£85011/240.5 mi-2
£75005/240.5 miJulian Avenue, Walkergate, Newcastle upon Tyne, Tyne and Wear, NE6 4RJ2
£94510/240.54 mi-2
£89503/250.54 mi-2
£95006/240.54 miPalmerston Avenue, Walkergate, Newcastle upon Tyne, Tyne and Wear, NE6 4RD2
£1,35006/240.54 mi-2
£75005/240.56 mi-2
£75005/240.56 miJulian Avenue, Newcastle Upon Tyne, NE62
£92506/240.57 miChillingham Road, Heaton, Newcastle upon Tyne, Tyne and Wear, NE6 5BJ2
£80001/250.57 mi-2
£3,50003/250.58 mi-2
£65005/240.58 miWalpole Street, Walkergate, Newcastle upon Tyne, NE6 4RL2
£70006/240.6 miMarondale Avenue, Walkerdene, Newcastle Upon Tyne2
£70006/240.6 miMarondale Avenue, Walkerdene, Newcastle Upon Tyne2
£95005/240.61 miFifth Avenue, Heaton, Newcastle Upon Tyne,NE62
£62507/240.62 miMarondale Avenue, Newcastle upon Tyne, NE62
£57506/240.62 miChatsworth Gardens, St. Anthonys, Newcastle Upon Tyne, NE62
£57506/240.62 mi-2

Local Area Statistics

Population in NE6

50,441

Population in Newcastle upon Tyne

381,037

Town centre distance

4.28 miles away

Nearest school

0.20 miles away

Nearest train station

0.36 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+23%

Sales demand

Seller's market

Capital growth (5yrs)

+31%

Property History

Price changed to £50,000

February 12, 2025

Price changed to £60,000

January 15, 2025

Listed for £65,000

October 16, 2024

Description

  • Upper Flat +
  • Two Bedrooms +
  • Off Street Parking +
  • Rear Garden +
  • Recently Refurbished +
  • No Upper Chain +
  • Close to good road and rail links +

TO BE SOLD VIA ONLINE AUCTION - Fees Apply. Property sold under Unconditional auction terms and conditions.

We have this two bedroom first floor flat which has been recently modernised. Ideally located to local amenities and good transport links. The accommodation comprises; Entrance area with stairs to the first floor, lounge, kitchen with a range of wall and base units with space for appliances, bathroom/W.C. and two double bedrooms. Rental Potential £650 PCM

Externally there is a garden to the rear. The property benefits from no onward chain and vacant possession.

Council Tax Band: A
Tenure: Leasehold
Length Of Lease: 976

Agent Details

Pattinson Estate Agents, Heaton

0191 625 0957

Next Steps?

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