2 Bed Flat, Refurb/BRRR, Jarrow, NE32 5JU, £75,000

315 Albert Road, Jarrow, Tyne And Wear, NE32 5JU - 2 views - 5 months ago

Sold STC
Leasehold
Refurb/BRRR
ROI: 6%
~68 m²
+4 photos

ValuationOvervalued

Sold Prices£43K - £110K
Sold Prices/m²£443/m² - £1.9K/m²

 

 

Square Metres

~68.11 m²
Price/m²£1.1K/m²

Value Estimate

£70,949

 

 

End Value (After Refurb)

£79,159

Uplift in Value

+6%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£18,750

Stamp Duty & Legal Fees

£3,450

Refurb Costs

£26,073

Bridging Loan Interest

£1,969

Total Cash In

£51,991

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£79,159

Mortgage (After Refinance)

£59,369

Mortgage LTV

75%

Cash Released

£3,119

Cash Left In

£48,872

Equity

£19,790

Rent Range

£500 - £925

Rent Estimate

£666

Running Costs/mo

£401

Cashflow/mo

£265

Cashflow/yr

£3,185

ROI

6%

Gross Yield

11%

Local Sold Prices

50 sold prices from £43K to £110K, average is £68K. £443/m² to £1.9K/m², average is £1.1K/m².

PriceDateDistanceAddressBeds 
£63.5K08/210.01 mi295, Albert Road, Jarrow, Tyne And Wear NE32 5JU2
£61K09/220.06 mi67, Northbourne Road, Jarrow, Tyne And Wear NE32 5JS2
£76.5K06/230.06 mi43, Northbourne Road, Jarrow, Tyne And Wear NE32 5JS2
£71K06/230.06 mi47, Northbourne Road, Jarrow, Tyne And Wear NE32 5JS2
£71K09/230.06 mi64, Northbourne Road, Jarrow, Tyne And Wear NE32 5JS2
£61K02/210.07 mi216, Albert Road, Jarrow, Tyne And Wear NE32 5JA2
£49K09/210.13 mi31, Frobisher Street, Hebburn, Tyne And Wear NE31 2XB2
£58.5K09/220.13 mi33, Frobisher Street, Hebburn, Tyne And Wear NE31 2XB2
£61.5K01/230.14 mi87, Collingwood Street, Hebburn, Tyne And Wear NE31 2XW2
£81K10/230.15 mi77, Gladstone Street, Hebburn, Tyne And Wear NE31 2XD2
£45.5K04/230.15 mi54, Gladstone Street, Hebburn, Tyne And Wear NE31 2XD2
£65K03/210.15 mi80, Gladstone Street, Hebburn, Tyne And Wear NE31 2XD2
£50K01/210.16 mi85, Howe Street, Hebburn, Tyne And Wear NE31 2XH2
£62K01/230.17 mi64, Frobisher Street, Hebburn, Tyne And Wear NE31 2XE2
£66.5K02/240.18 mi71, Red House Road, Hebburn, Tyne And Wear NE31 2XG2
£43K01/230.21 mi13, Red House Road, Hebburn, Tyne And Wear NE31 2XF2
£91K01/230.3 mi9, Bonnar Court, Hebburn, Tyne And Wear NE31 2YN2
£68K05/220.31 mi171, Albert Road, Jarrow, Tyne And Wear NE32 5AF2
£90K11/230.35 mi4, Bonnar Court, Hebburn, Tyne And Wear NE31 2YN2
£65K09/230.35 mi22, Bonnar Court, Hebburn, Tyne And Wear NE31 2YN2
£85K07/230.35 mi26, Bonnar Court, Hebburn, Tyne And Wear NE31 2YN2
£62K04/210.38 mi36, Greenbank, Jarrow, Tyne And Wear NE32 3NP2
£51.5K12/200.43 mi12, Marlborough Court, Jarrow, Tyne And Wear NE32 5RB2
£81K09/210.44 mi79, Wansbeck Road, Jarrow, Tyne And Wear NE32 5SS2
£90K10/200.46 mi3, Wellesley Street, Jarrow, Tyne And Wear NE32 5PJ2
£110K09/230.46 mi4, Wellesley Street, Jarrow, Tyne And Wear NE32 5PJ2
£65K11/220.49 mi25, Makendon Street, Hebburn, Tyne And Wear NE31 1RF2
£48.5K08/220.51 mi22, Ellen Court, Jarrow, Tyne And Wear NE32 3NH2
£63.5K10/200.51 mi76, Grange Road, Jarrow, Tyne And Wear NE32 3LD2
£66K07/220.51 mi56, Grange Road, Jarrow, Tyne And Wear NE32 3LD2
£73K07/220.51 mi62, Grange Road, Jarrow, Tyne And Wear NE32 3LD2
£72K11/220.55 mi74, Makendon Street, Hebburn, Tyne And Wear NE31 1RF2
£72K08/220.56 mi6, Ellen Court, Jarrow, Tyne And Wear NE32 3NH2
£74K03/230.56 mi76, Makendon Street, Hebburn, Tyne And Wear NE31 1RF2
£80K12/220.57 mi17, North Street, Jarrow, Tyne And Wear NE32 3PG2
£78K03/220.57 mi29, North Street, Jarrow, Tyne And Wear NE32 3PG2
£80K02/230.57 mi19, North Street, Jarrow, Tyne And Wear NE32 3PG2
£50K01/210.62 mi75, Hedgeley Road, Hebburn, Tyne And Wear NE31 1PR2
£68K07/230.67 mi10, Vimy Avenue, Hebburn, Tyne And Wear NE31 1QR2
£62.5K09/210.67 mi51, Victoria Road East, Hebburn, Tyne And Wear NE31 1XL2
£69K01/210.7 mi3, Quarry Road, Hebburn, Tyne And Wear NE31 2UN2
£75K03/210.71 mi30, Olwen Drive, Hebburn, Tyne And Wear NE31 1AR2
£78K06/230.71 mi50, Olwen Drive, Hebburn, Tyne And Wear NE31 1AR2
£65K06/210.71 mi60, Russell Street, Jarrow, Tyne And Wear NE32 3AW2
£68K03/220.74 mi41, Victoria Road East, Hebburn, Tyne And Wear NE31 1XG2
£80K12/230.74 mi26, Tidespring Row, Hebburn, Tyne And Wear NE31 1AS2
£100K07/240.74 mi15, Tidespring Row, Hebburn, Tyne And Wear NE31 1AS2
£87.5K03/230.74 mi23, Tidespring Row, Hebburn, Tyne And Wear NE31 1AS2
£68K04/230.75 mi23, Victoria Road East, Hebburn, Tyne And Wear NE31 1XG2
£77.5K03/230.75 mi25, Victoria Road East, Hebburn, Tyne And Wear NE31 1XG2

Local Rents

25 rents from £500/mo to £925/mo, average is £650/mo.

RentDateDistanceAddressBeds 
£55002/240.1 mi-2
£59502/250.1 mi-2
£72505/240.11 miElm Street, Jarrow, Tyne and Wear, NE32 5JD2
£72504/250.11 mi-2
£60006/240.13 miFrobisher Street, Hebburn, NE312
£57503/240.13 mi-2
£62503/240.13 mi-2
£59505/240.15 mi-2
£59505/240.16 mi-2
£92505/240.17 mi-2
£92505/240.17 mi-2
£75006/240.2 miJervis Street, Hebburn2
£69506/240.24 miWindsor Crescent, Hebburn2
£77505/240.32 miPalmer Crescent, Hebburn, Tyne & Wear2
£50009/230.34 mi-2
£80006/240.41 miAdair Way, Hebburn, Tyne and Wear, NE312
£80007/240.41 miAdair Way, Hebburn, Tyne and Wear, NE312
£59504/250.43 mi-2
£57505/240.44 miWansbeck Road, Jarrow, Tyne and Wear, NE32 5SS2
£70002/240.54 mi-2
£70002/240.54 mi-2
£70002/250.54 mi-2
£59506/240.57 miNorth Street, Jarrow2
£65001/250.57 mi-2
£60012/240.59 miHarold Street, Jarrow, Tyne and Wear, NE32 3AH2

Local Area Statistics

Population in NE32

25,292

Population in Jarrow

25,214

Town centre distance

1.03 miles away

Nearest school

0.20 miles away

Nearest train station

0.52 miles away

 

 

Rental growth (12m)

+45%

Sales demand

Seller's market

Capital growth (5yrs)

+27%

Property History

Listed for £75,000

October 29, 2024

Sold for £64,000

2004

Sold for £25,790

2002

Description

  • Two Bed Lower Flat +
  • Modern Kitchen and Bathroom +
  • Popular and Convenient Location +
  • Private Rear Yard +
  • Good Road Links and Transport Routes +
  • Off-Road Parking +
  • Reference: 457700 +

SPACIOUS TWO BED LOWER FLAT ON THE POPULAR AND CONVENIENT ALBERT ROAD.
Within walking distance to Jarrow town centre, this ideally located flat offers excellent road links and transport routes, as well as easy access to local amenities.
Benefiting from gas central heating and double glazing throughout, as well as recent decoration and renovations including: New flooring, modern kitchen and bathroom, plastering, and new appliances.
Fantastic opportunity for first time buyers and investors alike
ENTRANCE HALLWAY
Access to flat, storage cupboard.
LOUNGE
Double glazed window, original wood flooring, radiator.
KITCHEN
Base and wall units, gas hob, electric oven, new washing machine, space for fridge freezer, access to the bathroom.
BATHROOM
Recently plastered, new flooring, double glazed window, radiator, tiled bath, low level w.c., wash basin.
HALLWAY
Small hallway with a rear door to yard and a storage cupboard.
BEDROOM ONE
Double bedroom with large double glazed bay window and a radiator.
BEDROOM TWO
Single bedroom with double glazed window and a radiator.
EXTERNALLY
Small yard to the front and a private rear yard with double gates and access to a parking space.

PARKING
Off-road parking to the rear.
Tenure
The property is Leasehold with a term of 999 years from 26th April 1985 subject to an annual ground rent of one peppercorn.
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 16 Mbps and a maximum download speed of 1000 Mbps at this postcode: NE32 5JU and mobile coverage is provided by EE, Three, 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, Jarrow

0191 625 0760

Next Steps?

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