2 Bed Flat, Single Let, Newcastle upon Tyne, NE16 3HT, £70,000

Ridley Gardens, Swalwell, NE16 3HT - 2 views - 4 months ago

Sold STC
Leasehold
BTL
ROI: 14%
~68 m²
+6 photos

ValuationUndervalued

Sold Prices£35K - £295K
Sold Prices/m²£537/m² - £2.4K/m²

 

 

Square Metres

~68.11 m²
Price/m²£1K/m²

Value Estimate

£76,995
BMV10%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£17,500

Stamp Duty & Legal Fees

£3,300

Total Cash In

£20,800

 

 

Cash Out

 

Rent Range

£525 - £950

Rent Estimate

£603

Running Costs/mo

£359

Cashflow/mo

£244

Cashflow/yr

£2,924

ROI

14%

Gross Yield

10%

Local Sold Prices

51 sold prices from £35K to £295K, average is £72K. £537/m² to £2.4K/m², average is £1.1K/m².

PriceDateDistanceAddressBeds 
£74K01/230.03 mi51, Axwell Terrace, Swalwell, Newcastle Upon Tyne, Tyne And Wear NE16 3JS2
£52K08/220.05 mi14, Napier Road, Swalwell, Newcastle Upon Tyne, Tyne And Wear NE16 3BT2
£48K05/220.06 mi75, Ridley Gardens, Swalwell, Newcastle Upon Tyne, Tyne And Wear NE16 3HT2
£91K04/220.06 mi37, Rosebud Close, Swalwell, Newcastle Upon Tyne, Tyne And Wear NE16 3DF2
£88K11/220.07 mi28, Rosebud Close, Swalwell, Newcastle Upon Tyne, Tyne And Wear NE16 3DF2
£91.5K11/230.07 mi36, Rosebud Close, Swalwell, Newcastle Upon Tyne, Tyne And Wear NE16 3DF2
£65K07/210.09 mi75, Axwell Terrace, Swalwell, Newcastle Upon Tyne, Tyne And Wear NE16 3JS2
£65K07/230.09 mi17, Park Terrace, Swalwell, Newcastle Upon Tyne, Tyne And Wear NE16 3BU2
£55K03/220.09 mi79, Park Terrace, Swalwell, Newcastle Upon Tyne, Tyne And Wear NE16 3BU2
£70K10/200.12 mi3, Lyndhurst Terrace, Swalwell, Newcastle Upon Tyne, Tyne And Wear NE16 3DY2
£97K08/210.21 mi17, Broadmeadows Close, Swalwell, Newcastle Upon Tyne, Tyne And Wear NE16 3DD2
£84.7K11/220.48 mi21, Coalway Lane, Whickham, Newcastle Upon Tyne, Tyne And Wear NE16 4BX2
£65K10/200.55 mi4a, West Street, Whickham, Newcastle Upon Tyne, Tyne And Wear NE16 4AN2
£65K10/200.55 mi4a, West Street, Whickham, Newcastle Upon Tyne, Tyne And Wear NE16 4AN2
£117.5K04/230.72 mi34, Corsair, Whickham, Newcastle Upon Tyne, Tyne And Wear NE16 5YB2
£170K12/200.84 mi5, Axwell Park School Houses, Blaydon-on-tyne, Tyne And Wear NE21 6RN2
£113K06/211.05 mi26, Marston Walk, Whickham, Newcastle Upon Tyne, Tyne And Wear NE16 5BS2
£134.6K10/231.05 mi14, Marston Walk, Whickham, Newcastle Upon Tyne, Tyne And Wear NE16 5BS2
£113.5K12/201.14 mi61, Leasyde Walk, Whickham, Newcastle Upon Tyne, Tyne And Wear NE16 5UF2
£295K01/211.18 miApartment 1, The Mansion House, Mansion Heights, Gateshead, Tyne And Wear NE11 9DA2
£119K04/211.23 mi26, Ravenscar Close, Whickham, Newcastle Upon Tyne, Tyne And Wear NE16 5TW2
£106K01/211.24 mi31, Ancrum Way, Whickham, Newcastle Upon Tyne, Tyne And Wear NE16 5RW2
£36K12/201.31 mi111, Atkinson Road, Newcastle Upon Tyne, Tyne And Wear NE4 8XX2
£65K10/221.33 mi116, Meadow Lane, Gateshead, Tyne And Wear NE11 9PP2
£72K01/241.33 mi129, Meadow Lane, Gateshead, Tyne And Wear NE11 9PP2
£120K08/221.34 mi18, Thornley Close, Whickham, Newcastle Upon Tyne, Tyne And Wear NE16 5TG2
£135K02/231.37 mi43, Wansford Way, Whickham, Newcastle Upon Tyne, Tyne And Wear NE16 5TA2
£80K09/221.38 miS2 Cheviot Court, West View, Blaydon-on-tyne, Tyne And Wear NE21 5AG2
£70K11/221.41 miF7 Cheviot Court, West View, Blaydon-on-tyne, Tyne And Wear NE21 5AG2
£47K04/211.42 mi19, Parkhead Square, Blaydon-on-tyne, Tyne And Wear NE21 6NR2
£55K06/221.42 mi15, Parkhead Square, Blaydon-on-tyne, Tyne And Wear NE21 6NR2
£71K08/211.43 mi124, Dunston Road, Gateshead, Tyne And Wear NE11 9EH2
£135K08/211.45 mi3, Napier Court, Whickham, Newcastle Upon Tyne, Tyne And Wear NE16 5QH2
£135K11/231.45 mi18, Napier Court, Whickham, Newcastle Upon Tyne, Tyne And Wear NE16 5QH2
£76K11/201.45 mi40, Dunston Road, Gateshead, Tyne And Wear NE11 9EE2
£84K01/211.45 mi34, Glebe Terrace, Gateshead, Tyne And Wear NE11 9NQ2
£88.5K08/221.46 mi50, Mountside Gardens, Gateshead, Tyne And Wear NE11 9QB2
£66K05/211.48 mi4, Baker Gardens, Dunston, Gateshead, Tyne And Wear NE11 9HA2
£77K10/211.48 mi30, Baker Gardens, Dunston, Gateshead, Tyne And Wear NE11 9HA2
£73.5K05/231.48 mi15, Baker Gardens, Dunston, Gateshead, Tyne And Wear NE11 9HA2
£55K01/231.49 mi167, Atkinson Road, Newcastle Upon Tyne, Tyne And Wear NE4 8XS2
£75K11/221.5 mi38, Oak Avenue, Gateshead, Tyne And Wear NE11 9UQ2
£72K06/221.5 mi22, Wynyard Street, Gateshead, Tyne And Wear NE11 9NR2
£55.5K09/221.52 mi239, Clara Street, Newcastle Upon Tyne, Tyne And Wear NE4 8PY2
£65K09/211.53 mi12, Hawthorn Close, Benwell Village, Newcastle Upon Tyne, Tyne And Wear NE15 6AG2
£70K03/231.53 mi5, Hawthorn Close, Benwell Village, Newcastle Upon Tyne, Tyne And Wear NE15 6AG2
£47.8K07/231.53 mi26, Hawthorn Close, Benwell Village, Newcastle Upon Tyne, Tyne And Wear NE15 6AG2
£35K07/231.53 mi3, Hawthorn Close, Benwell Village, Newcastle Upon Tyne, Tyne And Wear NE15 6AG2
£35K07/231.53 mi3, Hawthorn Close, Benwell Village, Newcastle Upon Tyne, Tyne And Wear NE15 6AG2
£65K08/231.53 mi6, Hawthorn Close, Benwell Village, Newcastle Upon Tyne, Tyne And Wear NE15 6AG2
£43.5K06/241.53 mi7, Hawthorn Close, Newcastle Upon Tyne, Tyne And Wear NE15 6AG2

Local Rents

20 rents from £525/mo to £950/mo, average is £663/mo.

RentDateDistanceAddressBeds 
£52509/230.02 mi-2
£69506/240.02 mi-2
£75005/240.06 miRosebud Close, Swalwell, Newcastle upon Tyne2
£65004/240.07 mi-2
£67512/240.07 mi-2
£75002/250.08 mi-2
£65001/250.1 mi-2
£65003/250.1 mi-2
£65003/250.1 mi-2
£65002/250.1 mi-2
£62502/240.12 mi-2
£62502/240.12 mi-2
£65012/230.14 mi-2
£77501/250.46 mi-2
£69503/250.46 mi-2
£95003/250.5 mi-2
£85006/240.51 miHawksbury, Whickham, NE162
£75005/240.51 miThe Hermitage, Whickham Front Street, NE162
£80006/240.51 miThe Hermitage, Whickham Front Street, NE162
£60005/240.6 miWest Street, Whickham, Newcastle upon Tyne, Tyne and wear, NE16 4AN2

Local Area Statistics

Population in NE16

25,637

Population in Newcastle upon Tyne

381,037

Town centre distance

3.96 miles away

Nearest school

0.30 miles away

Nearest train station

0.86 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

-3%

Sales demand

Balanced market

Capital growth (5yrs)

+33%

Property History

Listed for £70,000

October 30, 2024

Sold for £72,000

2009

Sold for £78,000

2006

Sold for £45,000

2004

Floor Plans

Description

  • Two bedroom ground floor flat +
  • No onward chain +
  • Modern decor throughout +
  • Private gardens to front and rear +
  • Spacious primary bedroom +
  • Approximately 3/4 year old combi boiler +
  • Various storage options +
  • Close to A1 motorway and Metrocentre +
  • Set up with 999 year lease +
  • Call to view today +

This modern two-bedroom ground floor apartment boasts private outdoor spaces at both the front and back. The property is available with no onward chain and includes a living room, kitchen, two bedrooms, and a bathroom. Due to its excellent location and attractive features, we expect high demand, so we encourage you to arrange a viewing soon. Internally The property welcomes you with a practical entrance, ideal for stowing away outdoor attire. This area flows into the main hallway, granting access to the generously sized front bedroom, living room, second bedroom, and a sizable storage cupboard. The living room is designed to accommodate various freestanding furniture pieces, has been freshly decorated, and features French doors that open up to the private rear yard. In the kitchen, you'll find a selection of wall and base units paired with contrasting laminate countertops. An integrated electric oven with an induction hob is complemented by an overhead extractor fan. There's also room for a washing machine, and a small passage leads to additional storage space, perfect for a pantry.  This area also connects to the fully tiled bathroom, which includes a three-piece suite: a bathtub with an overhead shower, a washbasin, and a low-level WC. Both bedrooms are carpeted, with the main bedroom being particularly spacious, providing ample room for freestanding furniture. Living Room - 4.06m x 3.8m (13'3" x 12'5") Kitchen - 2.29m x 2.29m (7'6" x 7'6") Bathroom - 1.28m x 2.54m (4'2" x 8'4") Bedroom One - 3.92m x 4.01m (12'10" x 13'1") Bedroom Two - 2.9m x 2.17m (9'6" x 7'1") Externally The exterior of the property features freshly installed fencing that surrounds a spacious front garden, primarily covered in gravel with an attractive paved centerpiece. At the back, there is an outdoor area, which provides room for potted plants and outdoor seating, all secured by fencing and offering gated access for convenience. Disclaimer Whilst we endeavour to ensure our sales particulars are accurate and reliable, they do not constitute or form part of an offer or any contract and none is to be relied upon as statements of representation or fact. Any services, systems and appliances listed in this specification have not been tested by WalkersXchange therefore we cannot give a guarantee as to their operating ability or efficiency. All measurements have been taken as a guide to prospective buyers only.

Agent Details

WalkersXchange, Sunniside & the North East

0191 743 9208

Next Steps?

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