2 Bed Flat, Single Let, Washington, NE37 3LG, £50,000

Nene Court, Washington, Tyne and Wear, NE37 3LG - 5 months ago

Leasehold

BTL

ROI: 17%

~68 m²

+3 photos

ValuationOvervalued

Sold Prices	£15K - £275K
Sold Prices/m²	£155/m² - £1.9K/m²

Square Metres	~68.11 m²
Price/m²	£734/m²
Value Estimate	£30,121£30,121

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£12,500£12,500
Stamp Duty & Legal Fees	£3,700£3,700
Total Cash In	£16,200£16,200

Cash Out
Rent Range	£450 - £750£450 - £750
Rent Estimate	£503
Running Costs/mo	£277£277
Cashflow/mo	£226£226
Cashflow/yr	£2,714£2,714
ROI	17%17%
Gross Yield	12%12%

Local Sold Prices

32 sold prices from £15K to £275K, average is £32K. £155/m² to £1.9K/m², average is £442/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£50K	12/20	0 mi	5, Nene Court, Washington, Tyne And Wear NE37 3LG	£820	61	2	Flat
£39K	01/24	0.08 mi	18, Johnson Terrace, Washington, Tyne And Wear NE37 3AL	£549	71	2	Flat
£19K	04/21	0.12 mi	81, Neville Court, Sulgrave, Washington, Tyne And Wear NE37 3DY	£202	94	2	Flat
£40K	04/21	0.12 mi	79, Neville Court, Washington, Tyne And Wear NE37 3DY	£404	99	2	Flat
£38K	08/22	0.12 mi	76, Neville Court, Sulgrave, Washington, Tyne And Wear NE37 3DY	£481	79	2	Flat
£21K	12/22	0.12 mi	71, Neville Court, Sulgrave, Washington, Tyne And Wear NE37 3DY	£333	63	2	Flat
£47K	05/23	0.12 mi	22, Neville Court, Sulgrave, Washington, Tyne And Wear NE37 3DY	£490	96	2	Flat
£35K	05/23	0.12 mi	110, Wellington Walk, Washington, Tyne And Wear NE37 3EP	-	-	2	Flat
£30K	07/22	0.12 mi	67, Neville Court, Sulgrave, Washington, Tyne And Wear NE37 3DY	£395	76	2	Flat
£32K	02/21	0.17 mi	95, Kenilworth Court, Washington, Tyne And Wear NE37 3EG	£681	47	2	Flat
£18.9K	10/21	0.17 mi	75, Kenilworth Court, Washington, Tyne And Wear NE37 3EG	£190	99	2	Flat
£21.3K	05/21	0.17 mi	60, Kenilworth Court, Washington, Tyne And Wear NE37 3EG	£348	61	2	Flat
£24K	06/21	0.18 mi	91, Collingwood Court, Washington, Tyne And Wear NE37 3ED	-	-	2	Flat
£20K	05/23	0.18 mi	100, Collingwood Court, Washington, Tyne And Wear NE37 3ED	£465	43	2	Flat
£20K	10/20	0.18 mi	14, Kenilworth Court, Washington, Tyne And Wear NE37 3DZ	£377	53	2	Flat
£26K	03/21	0.19 mi	109, Collingwood Court, Washington, Tyne And Wear NE37 3EF	£419	62	2	Flat
£29K	01/24	0.19 mi	139, Collingwood Court, Washington, Tyne And Wear NE37 3EF	£411	71	2	Flat
£15K	03/21	0.19 mi	103, Waterloo Walk, Washington, Tyne And Wear NE37 3EN	£155	97	2	Flat
£15K	02/21	0.19 mi	119, Waterloo Walk, Washington, Tyne And Wear NE37 3EN	£169	89	2	Flat
£17.5K	01/21	0.19 mi	118, Waterloo Walk, Washington, Tyne And Wear NE37 3EN	£201	87	2	Flat
£30K	12/22	0.2 mi	113, Kenilworth Court, Washington, Tyne And Wear NE37 3EQ	£393	76	2	Flat
£32K	06/23	0.21 mi	9, Collingwood Court, Washington, Tyne And Wear NE37 3EB	£478	67	2	Flat
£17.5K	10/20	0.22 mi	142, Waterloo Walk, Washington, Tyne And Wear NE37 3EL	£243	72	2	Flat
£37.5K	03/23	0.23 mi	4, Gladstone Terrace, Washington, Tyne And Wear NE37 3AW	-	-	2	Flat
£55K	04/23	0.27 mi	43, Laurens Court, Washington, Tyne And Wear NE37 2EE	£982	56	2	Flat
£67.5K	03/21	0.63 mi	5, Musgrave Terrace, Washington, Tyne And Wear NE38 7HR	£1,071	63	2	Flat
£60K	11/20	0.66 mi	112, Burnhope Road, Washington, Tyne And Wear NE38 8EA	£1,071	56	2	Flat
£67.5K	03/21	0.66 mi	5, Musgrave Terrace, Washington, Tyne And Wear NE38 7HR	£1,071	63	2	Flat
£275K	12/20	0.76 mi	20, Liberty Green, Washington, Tyne And Wear NE38 7UA	£1,884	146	2	Flat
£71K	01/23	0.89 mi	37, Burnway, Washington, Tyne And Wear NE37 1BQ	£1,325	54	2	Flat
£72.5K	12/23	0.95 mi	30, Burnway, Washington, Tyne And Wear NE37 1BQ	£1,343	54	2	Flat
£67K	12/23	0.95 mi	40, Burnway, Washington, Tyne And Wear NE37 1BQ	-	-	2	Flat

Local Rents

20 rents from £450/mo to £750/mo, average is £598/mo.

Rent	Date	Distance	Address	Beds	Type
£550	11/24	0.04 mi	-	2	Flat
£550	01/24	0.09 mi	-	2	Flat
£450	05/24	0.12 mi	Neville Court, Sulgrave, Washington, NE37	2	Flat
£595	05/24	0.13 mi	Kenilworth Court, sulgrave, Washington, Tyne and Wear, NE37 3EG	2	Flat
£550	05/24	0.18 mi	Kenilworth Court, Washington, Tyne and Wear, NE37 3DZ	2	Flat
£650	06/24	0.2 mi	Waterloo Walk, Washington, NE37	2	Flat
£600	06/24	0.2 mi	Waterloo Walk, Washington, NE37	2	Flat
£600	07/24	0.2 mi	-	2	Flat
£595	07/24	0.21 mi	Collingwood Court, Sulgrave, Washington, Tyne and Wear, NE37 3EB	2	Flat
£595	07/24	0.21 mi	Collingwood Court, Sulgrave, Washington, Tyne and Wear, NE37 3EB	2	Flat
£600	01/24	0.22 mi	-	2	Flat
£700	01/25	0.22 mi	-	2	Flat
£600	05/24	0.25 mi	Cooperative Terrace, Washington	2	Flat
£575	05/24	0.25 mi	Manor View, Washington, Tyne and Wear, NE37	2	Terraced House
£750	07/24	0.31 mi	Shalstone, Sulgrave, Washington	2	Semi-Detached House
£650	05/24	0.31 mi	Shalstone, Washington	2	Detached House
£550	06/24	0.47 mi	-	2	Terraced House
£535	05/24	0.5 mi	-	2	Terraced House
£650	05/24	0.52 mi	The Oval Concord Washington	2	Terraced House
£630	03/24	0.59 mi	-	2	Terraced House

Local Area Statistics

Population in NE37	21,03221,032
Population in Washington	52,26452,264
Town centre distance	0.96 miles away0.96 miles away
Nearest school	0.30 miles away0.30 miles away
Nearest train station	2.66 miles away2.66 miles away

Rental demand	Tenant's marketTenant's market
Rental growth (12m)	+71%+71%
Sales demand	Seller's marketSeller's market
Capital growth (5yrs)	+4%+4%

Property History

Listed for £50,000

October 30, 2024

Floor Plans

Description

RARELY AVAILABLE +
MUST VIEW +
SPACIOUS HOME +

Nene Court is perfect for a first time buyer or as an investment. The rarely available property is a credit to the current owners and briefly comprises: Entrance hallway, living/dining room, kitchen, two bedrooms and a bathroom.
Located a short drive from the A1231 which provides commuting links to both the A1 and the A19. The Galleries Shopping Centre as is Usworth Grange Primary School. The property really must be viewing to appreciate the accommodation on offer.

Agent Details

Ben Charles, Durham

0191 625 0846

Next Steps?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪

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