3 Bed Detached House, Refurb/BRRR, South Shields, NE34 7HZ, £170,000

66 Cheshire Grove, South Shields, Tyne And Wear, NE34 7HZ - 5 views - 6 months ago

Leasehold
Refurb/BRRR
ROI: 2%
~93 m²
+9 photos

ValuationOvervalued

Sold Prices£100K - £272K
Sold Prices/m²£1.1K/m² - £3.2K/m²

 

 

Square Metres

~93 m²
Price/m²£1.8K/m²

Value Estimate

£162,625

 

 

End Value (After Refurb)

£170,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£42,500

Stamp Duty & Legal Fees

£6,600

Refurb Costs

£35,600

Bridging Loan Interest

£4,463

Total Cash In

£90,913

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£170,000

Mortgage (After Refinance)

£127,500

Mortgage LTV

75%

Cash Left In

£90,913

Equity

£42,500

Rent Range

£755 - £1,100

Rent Estimate

£888

Running Costs/mo

£729

Cashflow/mo

£159

Cashflow/yr

£1,910

ROI

2%

Gross Yield

6%

Local Sold Prices

50 sold prices from £100K to £272K, average is £165K. £1.1K/m² to £3.2K/m², average is £1.8K/m².

PriceDateDistanceAddressBeds 
£171K06/210.09 mi47, Dorset Avenue, South Shields, Tyne And Wear NE34 7JA3
£162K11/200.09 mi51, Dorset Avenue, South Shields, Tyne And Wear NE34 7JA3
£100K07/210.11 mi17, Farne Avenue, South Shields, Tyne And Wear NE34 7HG3
£120K10/210.16 mi1, Craster Avenue, South Shields, Tyne And Wear NE34 7TN3
£260K10/230.22 mi17, Suffolk Gardens, South Shields, Tyne And Wear NE34 7JF3
£152K12/200.24 mi59, Hylton Avenue, South Shields, Tyne And Wear NE34 7SF3
£127K04/230.29 mi78, Horsley Vale, South Shields, Tyne And Wear NE34 6JX3
£170K05/230.29 mi181, Horsley Vale, South Shields, Tyne And Wear NE34 6JX3
£165K09/230.3 mi8, Bywell Avenue, South Shields, Tyne And Wear NE34 6RP3
£197.5K12/230.32 mi24, Hurworth Avenue, South Shields, Tyne And Wear NE34 7SG3
£160K12/200.32 mi27, Hurworth Avenue, South Shields, Tyne And Wear NE34 7SG3
£190K05/230.32 mi4, Hurworth Avenue, South Shields, Tyne And Wear NE34 7SG3
£155K07/240.32 mi23, Ede Avenue, South Shields, Tyne And Wear NE34 7EB3
£170K03/230.33 mi126, Centenary Avenue, South Shields, Tyne And Wear NE34 6SG3
£180K07/230.33 mi70, Ede Avenue, South Shields, Tyne And Wear NE34 7ED3
£165K02/230.33 mi11, Fulwell Avenue, South Shields, Tyne And Wear NE34 7DH3
£139.5K02/230.34 mi95, Horsley Vale, South Shields, Tyne And Wear NE34 6LB3
£100K04/210.34 mi93, Steward Crescent, South Shields, Tyne And Wear NE34 7EJ3
£210K12/230.35 mi17, Westmorland Road, South Shields, Tyne And Wear NE34 7JL3
£161.5K08/230.35 mi45, Walworth Avenue, South Shields, Tyne And Wear NE34 7EW3
£205K02/210.36 mi15, Allendale Drive, South Shields, Tyne And Wear NE34 7SX3
£215K05/230.36 mi13, Allendale Drive, South Shields, Tyne And Wear NE34 7SX3
£127K03/230.37 mi2, Ede Avenue, South Shields, Tyne And Wear NE34 7EA3
£190K03/230.37 mi8, Norfolk Road, South Shields, Tyne And Wear NE34 7JW3
£120K02/210.37 mi40, Norfolk Road, South Shields, Tyne And Wear NE34 7JW3
£195K12/230.38 mi60, Horsley Vale, South Shields, Tyne And Wear NE34 6JY3
£137.5K12/200.38 mi44, Horsley Vale, South Shields, Tyne And Wear NE34 6JY3
£138K05/230.38 mi68, Horsley Vale, South Shields, Tyne And Wear NE34 6JY3
£195K12/230.38 mi117, Bamburgh Avenue, South Shields, Tyne And Wear NE34 7SZ3
£115K11/200.39 mi65, Thornholme Avenue, South Shields, Tyne And Wear NE34 7DS3
£235K12/220.39 mi116, Marsden Road, South Shields, Tyne And Wear NE34 6RL3
£167K01/210.39 mi22, Norfolk Road, South Shields, Tyne And Wear NE34 7JW3
£195K09/230.4 mi42, Westhope Road, South Shields, Tyne And Wear NE34 6JT3
£196K12/220.41 mi48, Barbour Avenue, South Shields, Tyne And Wear NE34 6SD3
£195K09/210.41 mi144, Norham Avenue North, South Shields, Tyne And Wear NE34 7SU3
£222.5K11/230.41 mi183, Norham Avenue North, South Shields, Tyne And Wear NE34 7SU3
£125K11/200.41 mi52, Barbour Avenue, South Shields, Tyne And Wear NE34 6SD3
£186K09/230.41 mi39, Barbour Avenue, South Shields, Tyne And Wear NE34 6SD3
£155K07/230.41 mi31, Westmorland Road, South Shields, Tyne And Wear NE34 7JJ3
£140K04/210.41 mi28, Westmorland Road, South Shields, Tyne And Wear NE34 7JJ3
£150K05/240.43 mi55, Horsley Vale, South Shields, Tyne And Wear NE34 6LA3
£230K12/220.43 mi20, Ridley Grove, South Shields, Tyne And Wear NE34 6RN3
£130K10/210.43 mi145, Tanfield Gardens, South Shields, Tyne And Wear NE34 7DX3
£272K10/230.44 mi120, Lumley Avenue, South Shields, Tyne And Wear NE34 7BN3
£180K07/230.44 mi10, Thornholme Avenue, South Shields, Tyne And Wear NE34 7DT3
£140K12/200.45 mi22, Falstone Avenue, South Shields, Tyne And Wear NE34 6SB3
£192K06/240.46 mi107, Lumley Avenue, South Shields, Tyne And Wear NE34 7DL3
£127K04/210.47 mi70, Tanfield Gardens, South Shields, Tyne And Wear NE34 7DY3
£160K03/230.48 mi218, Cheviot Road, South Shields, Tyne And Wear NE34 7TA3
£139.9K01/210.48 mi4, Deneside, South Shields, Tyne And Wear NE34 7RW3

Local Rents

15 rents from £755/mo to £1.1K/mo, average is £850/mo.

RentDateDistanceAddressBeds 
£85004/240.08 mi-3
£90012/240.11 mi-3
£85010/230.16 mi-3
£75503/250.2 mi-3
£1,10007/240.38 miAllendale Drive, South Shields3
£89505/240.38 miFulwell Avenue, South Shields3
£85007/240.38 miHorsley Vale, South Shields3
£89505/240.45 miLumley Avenue, South Shields3
£79507/240.48 miGreenside, Marsden, South Shields, Tyne and Wear, NE34 7RN3
£95005/240.58 miCentenary Avenue, South Shields3
£97505/240.58 miEast Avenue, South Shields, NE343
£85005/240.58 mi-3
£80005/240.59 mi-3
£77505/240.59 mi-3
£95005/240.59 miEast Avenue, South Shields, NE343

Local Area Statistics

Population in NE34

52,101

Population in South Shields

79,432

Town centre distance

1.15 miles away

Nearest school

0.30 miles away

Nearest train station

1.55 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+35%

Sales demand

Seller's market

Capital growth (5yrs)

+27%

Property History

Price changed to £170,000

January 7, 2025

Listed for £180,000

October 17, 2024

Sold for £75,000

2001

Sold for £59,500

1997

Floor Plans

Description

  • Sold With Vacant Possession ! +
  • Spacious Family Size Living Throughout +
  • Easy Access To Marsden Beach, The Leas, Shops & Bus Links +
  • Ready For Modernisation & Personalisation +
  • Boasting A Driveway & Garage For Off Road Parking +
  • Reference : 455041 +

This detached Family home, located near the coast with convenient access to Marsden Beach, offers an excellent opportunity for a variety of buyers, including families seeking spacious living, first time buyers, and investors. With vacant possession, the property is ready for someone to add their personal touch. Situated in the popular Cheshire Grove area, it is close to local amenities such as shops, bus links for easy commuting, and schools, as well as The Leas for scenic coastal walks.

The ground floor layout includes an entrance hallway with a convenient W.C., a generous front facing lounge, and an open plan kitchen diner at the rear. A utility room provides access to both the garage and the rear garden. Upstairs, you'll find three well proportioned bedrooms and a Family bathroom.

Externally, the property features a driveway offering off road parking, a garage, and a sunny south facing garden. Viewing is highly recommended!
ENTRANCE
Front door into Hallway.
HALLWAY
Radiator, stairs to first floor landing, door into ground floor W.C. and door into Lounge.
GROUND FLOOR W.C.
Low flush W.C., hand wash basin and window.
LOUNGE 4.06m (13'4) x 4.55m (14'11)
Window, radiator and double doors to Kitchen Diner.
KITCHEN DINER 5m (16'5) x 3.05m (10')
Fitted with wall and base units with contrasting worktops, integrated oven and hob, integrated microwave, part tiling to walls, laminate flooring, patio doors to rear, understair storage cupboard and door into Utility.
UTILITY ROOM 2.39m (7'10) x 2.11m (6'11)
Door to rear Garden, door into Garage, window, base units, wall units, plumbing for washer and space for tumble dryer.
FIRST FLOOR LANDING
Storage cupboard and window.
BEDROOM ONE 3.58m (11'9) x 2.97m (9'9)
Fitted mirrored sliding wardrobes, laminate flooring, radiator and window.
BEDROOM TWO 3.07m (10'1) x 3.53m (11'7)
Window, radiator and laminate flooring.
BEDROOM THREE 2.49m (8'2) x 2.16m (7'1)
Window, radiator, laminate flooring and loft access.
BATHROOM
Panelled bath with shower over and shower screen, pedestal hand wash basin, low flush W.C., heated towel rail, window, cladding to walls, cladding to ceiling and laminate flooring.
EXTERNALLY
Low maintenance garden to front and South facing aspect garden to rear.
PARKING
Driveway to front providing off road parking for multiple cars.
GARAGE
Integral single garage, providing parking for one further car.
Tenure
We will provide as much information about tenure as we are able to and in the case of leasehold properties, we can in most cases provide a copy of the lease. They can be complex and buyers are advised to take legal advice upon the full terms of a lease. Where a lease is not readily available we will apply for a copy and this can take time.
Broadband & Mobile Coverage
The Ofcom website states the average broadband download speed of 4 Mbps and a maximum download speed of 1000 Mbps at this postcode: NE34 7HZ and mobile coverage is provided by EE, Three, O2 and Vodafone. The checker results are predictions and should not be regarded as guaranteed.
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
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.
Material Information
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
Council Tax
The GOV.UK website states the property is Council Tax Band: C

Agent Details

Andrew Craig, South Shields

0191 625 0766

Next Steps?

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