3 Bed Terraced House, Refurb/BRRR, South Shields, NE34 0RA, £85,000

16 Nora Street, South Shields, NE34 0RA, United Kingdom - 6 views - 6 months ago

Sold STC
Leasehold
Auction
Refurb/BRRR
ROI: 4%
101 m²
+8 photos

ValuationFair Value

Sold Prices£60.5K - £355K
Sold Prices/m²£833/m² - £2.6K/m²

 

 

Square Metres

101 m²
Price/m²£842/m²

Value Estimate

£85,000

 

 

End Value (After Refurb)

£108,786

Uplift in Value

+28%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£21,250

Stamp Duty & Legal Fees

£3,750

Refurb Costs

£38,662

Bridging Loan Interest

£2,231

Total Cash In

£67,644

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£108,786

Mortgage (After Refinance)

£81,589

Mortgage LTV

75%

Cash Released

£17,839

Cash Left In

£49,804

Equity

£27,196

Rent Range

£550 - £900

Rent Estimate

£700

Running Costs/mo

£500

Cashflow/mo

£200

Cashflow/yr

£2,401

ROI

4%

Gross Yield

10%

Local Sold Prices

50 sold prices from £60.5K to £355K, average is £132.5K. £833/m² to £2.6K/m², average is £1.6K/m².

PriceDateDistanceAddressBeds 
£142K03/230 mi17, Nora Street, South Shields, Tyne And Wear NE34 0RA3
£242K06/240.02 mi95, Ashley Road, South Shields, Tyne And Wear NE34 0PQ3
£115K06/210.03 mi8, Westcott Road, South Shields, Tyne And Wear NE34 0QZ3
£171K12/230.09 mi148 - 150, Talbot Road, South Shields, Tyne And Wear NE34 0RG3
£113K10/200.1 mi61, Nora Street, South Shields, Tyne And Wear NE34 0RB3
£139K06/240.1 mi59, Nora Street, South Shields, Tyne And Wear NE34 0RB3
£111K07/230.1 mi63, Nora Street, South Shields, Tyne And Wear NE34 0RB3
£206K08/210.13 mi139, Harton Lane, South Shields, Tyne And Wear NE34 0PW3
£60.5K03/240.14 mi81, Egerton Road, South Shields, Tyne And Wear NE34 0RD3
£130K02/210.14 mi228, Harton Lane, South Shields, Tyne And Wear NE34 0RE3
£179.9K07/230.19 mi11, Ashley Road, South Shields, Tyne And Wear NE34 0PD3
£90.4K06/230.19 mi10, Ashley Road, South Shields, Tyne And Wear NE34 0PD3
£87K06/210.19 mi6, Hardyards Court, South Shields, Tyne And Wear NE34 0XL3
£137K10/230.22 mi2, Homestall Close, South Shields, Tyne And Wear NE34 0YE3
£110K02/240.23 mi17, Hollingside Way, South Shields, Tyne And Wear NE34 0HX3
£232K02/210.24 mi76, Harton Lane, South Shields, Tyne And Wear NE34 0PP3
£80K11/230.24 mi9, Coxfoot Close, South Shields, Tyne And Wear NE34 0XN3
£78K07/230.26 mi92, Richmond Road, South Shields, Tyne And Wear NE34 0QQ3
£125K05/210.28 mi250, Harton Lane, South Shields, Tyne And Wear NE34 0LR3
£84K11/230.28 mi18, Alnwick Road, South Shields, Tyne And Wear NE34 0LB3
£102.5K04/230.28 mi12, Brown Top Place, South Shields, Tyne And Wear NE34 0XP3
£97.5K02/230.29 mi32, Stoddart Street, South Shields, Tyne And Wear NE34 0JS3
£105K11/210.31 mi24, Wansbeck Mews, South Shields, Tyne And Wear NE34 0DE3
£144.9K04/240.31 mi24, Wansbeck Mews, South Shields, Tyne And Wear NE34 0DE3
£93.5K12/200.32 mi22, Awnless Court, South Shields, Tyne And Wear NE34 0XR3
£130K01/210.32 mi99, Temple Park Road, South Shields, Tyne And Wear NE34 0PR3
£95K03/230.33 mi2, Eavers Court, South Shields, Tyne And Wear NE34 0XB3
£190K06/210.34 mi122, Reading Road, South Shields, Tyne And Wear NE33 4SG3
£220K05/230.34 mi124, Reading Road, South Shields, Tyne And Wear NE33 4SG3
£117K09/210.34 mi124, Reading Road, South Shields, Tyne And Wear NE33 4SG3
£73.8K07/240.35 mi97, Birchington Avenue, South Shields, Tyne And Wear NE33 4SB3
£142.5K09/230.36 mi227, Stanhope Road, South Shields, Tyne And Wear NE33 4RT3
£319K10/230.37 mi169, Temple Park Road, South Shields, Tyne And Wear NE34 0EN3
£191K06/230.37 mi14, Bisley Drive, South Shields, Tyne And Wear NE34 0PY3
£135K01/210.37 mi16, Bisley Drive, South Shields, Tyne And Wear NE34 0PY3
£107K07/210.37 mi13, Lemon Street, South Shields, Tyne And Wear NE33 4RQ3
£204K12/200.39 mi8, Rydal Gardens, South Shields, Tyne And Wear NE34 0EB3
£90K04/230.4 mi25, Bardon Court, South Shields, Tyne And Wear NE34 0HN3
£235K10/200.41 mi46, Mitford Road, South Shields, Tyne And Wear NE34 0EQ3
£114K02/210.43 mi17, Wadham Terrace, South Shields, Tyne And Wear NE34 0BU3
£230K08/220.44 mi71, Birchington Avenue, South Shields, Tyne And Wear NE33 4SA3
£210K11/200.44 mi195, Temple Park Road, South Shields, Tyne And Wear NE34 0EW3
£294.2K10/210.44 mi27, Harton Lane, South Shields, Tyne And Wear NE34 0EG3
£240K11/200.44 mi17, Harton Lane, South Shields, Tyne And Wear NE34 0EG3
£258K06/210.46 mi42, Meldon Avenue, South Shields, Tyne And Wear NE34 0EL3
£100K03/230.46 mi14, Bardon Court, South Shields, Tyne And Wear NE34 0HN3
£230K12/200.47 mi57, Meldon Avenue, South Shields, Tyne And Wear NE34 0EL3
£275.9K06/230.47 mi37, Meldon Avenue, South Shields, Tyne And Wear NE34 0EL3
£355K12/220.47 mi1, Mitford Road, South Shields, Tyne And Wear NE34 0EQ3
£115K10/200.48 mi38, Waverdale Way, South Shields, Tyne And Wear NE33 4SL3

Local Rents

19 rents from £550/mo to £900/mo, average is £675/mo.

RentDateDistanceAddressBeds 
£60005/240.2 mi-3
£62511/240.21 mi-3
£80006/240.25 miWear Court, South Shields3
£90002/250.26 mi-3
£79506/240.28 miVine Street, South Shields3
£80010/240.3 mi-3
£65004/250.3 mi-3
£55007/240.33 miStanhope Road, South Shields, Tyne and Wear, NE333
£67507/240.33 miVine Street, South Shields3
£60006/240.34 miWest Park, South Shields, NE33 4RG3
£60007/240.34 miWest Park, South Shields, NE33 4RG3
£66503/250.36 mi-3
£65004/250.37 mi-3
£58502/240.39 mi-3
£79507/240.43 mi-3
£79506/240.43 miWadham Terrace, South Shields, NE343
£75007/240.43 miWest Harton, South Shields, NE34 0BU3
£75007/240.43 miWest Harton, South Shields, NE34 0BU3
£77502/250.49 mi-3

Local Area Statistics

Population in NE34

52,101

Population in South Shields

79,432

Town centre distance

0.61 miles away

Nearest school

0.10 miles away

Nearest train station

0.44 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+35%

Sales demand

Seller's market

Capital growth (5yrs)

+27%

Property History

Listed for £85,000

October 21, 2024

Description

  • Walking Distance To South Tyneside Hospital +
  • Close To Well Regarded Schools and Bus Links +
  • Property Is To Be Sold With Vacant Possession +
  • Ready For Modernisation and Improvements +
  • Driveway To Front and Garden To Rear +
  • Reference : 454514 +

FOR SALE BY WAY OF ONLINE AUCTION - ON 12TH OF DECEMBER 2024. Terms and Conditions apply. See Agents Property Auctions Website for full details.

FAMILY HOME! Located on Nora Street, this three bedroom end terrace home offers excellent potential for personalisation. Ideally situated close to South Tyneside Hospital, it is perfect for commuters, with convenient access to main bus routes and Tyne Dock Metro Station. The property benefits from double glazing and gas central heating throughout.

The internal layout comprises an entrance porch leading into a hallway, a lounge that opens into a kitchen/diner, and a ground floor bathroom suite located at the rear. Upstairs, there are three well-proportioned bedrooms.

Externally, the property features a driveway at the front and a sunny rear garden, which includes right of way access for a neighbouring property to use for bin refuse. The property is offered with vacant possession, and early viewing is highly recommended.
ENTRANCE
Via UPVC door into Porch.
PORCH
Door into Hallway.
HALLWAY
Stairs to first floor landing and door into Lounge.
LOUNGE 4.78m (15'8) x 3.76m (12'4)
Double glazed window, radiator, gas fire with surround and door into Kitchen.
KITCHEN DINER 4.7m (15'5) x 2.26m (7'5)
Basic range of base units, plumbing for washer, space for tumble dryer, space for cooker, space for fridge freezer, laminate flooring, part tiling to walls, understair storage cupboard, two double glazed windows and radiator. Door leading to rear Hallway.
REAR HALLWAY
Door leading to rear Garden and door into Bathroom.
BATHROOM
Bath with shower over and shower curtain, pedestal hand wash basin, low flush W.C., double glazed window, laminate flooring and panelling to walls.
FIRST FLOOR LANDING

BEDROOM ONE 3.78m (12'5) x 3.56m (11'8)
Double glazed window, radiator and fitted sliding wardrobes.
BEDROOM TWO 3.2m (10'6) x 2.67m (8'9)
Double glazed window and radiator.
BEDROOM THREE 2.36m (7'9) x 2.01m (6'7)
Double glazed window and radiator.
EXTERNALLY
Sunny aspect lawned garden to rear with patio area.
PARKING
Brick paved driveway to front providing off road parking.
Agents Note
We have been advised that the neighbouring property has right of way for bin refuse.
Auction Disclaimer
Each auction property is offered at a guide price and is also subject to a reserve price. The guide price is the level where the bidding will commence. The reserve price is the sellers minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price, which may be up to 10% higher than the guide price, is not disclosed and remains confidential between the seller and the auctioneer. Both the guide price and the reserve price can be subject to change up to and including the day of the auction. The successful buyer pays a £2000.00+VAT (total £2400.00) Auction Administration Fee. Joint Agent The Agents Property Auction Ltd. Tel:
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 9 Mbps and a maximum download speed of 1000 Mbps at this postcode: NE34 0RA and mobile coverage is provided by EE, O2 and 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: A
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: D

Agent Details

Andrew Craig, Auction

01661 525163

Next Steps?

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