2 Bed Flat, Single Let, Washington, NE38 0PG, £60,000

Pentland Close, Lambton, Washington, Tyne and Wear, NE38 0PG - 5 months ago

Sold STC

Leasehold

Auction

BTL

ROI: 20%

~56 m²

+6 photos

ValuationUndervalued

Sold Prices	£40K - £275K
Sold Prices/m²	£515/m² - £24.2K/m²

Square Metres	~56 m²
Price/m²	£1.1K/m²
Value Estimate	£67,742£67,742
BMV	13%

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£15,000£15,000
Stamp Duty & Legal Fees	£4,200£4,200
Total Cash In	£19,200£19,200

Cash Out
Rent Range	£595 - £2,200£595 - £2,200
Rent Estimate	£650
Running Costs/mo	£338£338
Cashflow/mo	£313£313
Cashflow/yr	£3,750£3,750
ROI	20%20%
Gross Yield	13%13%

Local Sold Prices

40 sold prices from £40K to £275K, average is £66.5K. £515/m² to £24.2K/m², average is £1.2K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£97.5K	08/22	0.25 mi	14, Burtree, Washington, Tyne And Wear NE38 0RA	£1,950	50	2	Flat
£75K	07/23	0.26 mi	40, Pendle Close, Washington, Tyne And Wear NE38 0PZ	£1,271	59	2	Flat
£50K	08/22	0.28 mi	48, Warkworth Close, Washington, Tyne And Wear NE38 0JN	£833	60	2	Flat
£60K	09/22	0.31 mi	23, Pendle Close, Washington, Tyne And Wear NE38 0PZ	£1,250	48	2	Flat
£72.5K	07/23	0.33 mi	89, Dilston Close, Washington, Tyne And Wear NE38 0HE	-	-	2	Flat
£85K	06/23	0.33 mi	87, Dilston Close, Washington, Tyne And Wear NE38 0HE	£1,735	49	2	Flat
£55K	10/22	0.34 mi	13, Witton Court, Washington, Tyne And Wear NE38 0JH	-	-	2	Flat
£40K	12/20	0.34 mi	15, Witton Court, Washington, Tyne And Wear NE38 0JH	£653	61	2	Flat
£55K	06/22	0.39 mi	8, Dunstanburgh Close, Washington, Tyne And Wear NE38 0JE	£1,122	49	2	Flat
£90K	07/22	0.44 mi	29, Chacombe, Washington, Tyne And Wear NE38 7HB	£2,143	42	2	Flat
£96.5K	07/23	0.44 mi	31, Chacombe, Washington, Tyne And Wear NE38 7HB	£1,915	50	2	Flat
£52.5K	08/22	0.46 mi	116, Lumley Close, Washington, Tyne And Wear NE38 0HZ	£833	63	2	Flat
£70K	06/23	0.46 mi	131, Lumley Close, Washington, Tyne And Wear NE38 0HZ	-	-	2	Flat
£70K	06/21	0.47 mi	19, Biddick Village Centre, Washington, Tyne And Wear NE38 7NP	£1,167	60	2	Flat
£82K	03/23	0.47 mi	35, Biddick Village Centre, Washington, Tyne And Wear NE38 7NP	-	-	2	Flat
£60K	01/23	0.5 mi	9, Lumley Close, Washington, Tyne And Wear NE38 0HX	£984	61	2	Flat
£75K	08/22	0.54 mi	11, Sandpiper Close, Washington, Tyne And Wear NE38 0EG	£1,210	62	2	Flat
£71K	10/21	0.55 mi	2, Teal Close, Washington, Tyne And Wear NE38 0EA	£1,065	67	2	Flat
£52K	08/23	0.57 mi	98, Bamburgh Close, Washington, Tyne And Wear NE38 0HR	£867	60	2	Flat
£43K	04/21	0.63 mi	49, Newstead Court, Washington, Tyne And Wear NE38 7PF	£729	59	2	Flat
£65K	07/23	0.8 mi	40, Eddleston, Washington, Tyne And Wear NE38 9ED	-	-	2	Flat
£58K	05/21	0.84 mi	28, Wansbeck, Washington, Tyne And Wear NE38 9EF	£899	65	2	Flat
£61K	06/21	0.86 mi	32, Hogarth Drive, Washington, Tyne And Wear NE38 7LB	-	-	2	Flat
£64.5K	10/20	0.86 mi	34, Hogarth Drive, Washington, Tyne And Wear NE38 7LB	£1,213	53	2	Flat
£72K	08/22	0.86 mi	13, Hogarth Drive, Washington, Tyne And Wear NE38 7LB	-	-	2	Flat
£72K	09/22	0.89 mi	17, Emmerson Terrace, Washington, Tyne And Wear NE38 7LN	£515	140	2	Flat
£63K	06/22	0.9 mi	6, Petteril, Rickleton, Washington, Tyne And Wear NE38 9EQ	£984	64	2	Flat
£68K	03/23	0.9 mi	66, Hogarth Drive, Washington, Tyne And Wear NE38 7LT	£1,235	55	2	Flat
£80.5K	10/22	0.9 mi	6, Drumaldrace, Washington, Tyne And Wear NE37 1SR	-	-	2	Flat
£85K	09/23	0.91 mi	55, Grizedale, Washington, Tyne And Wear NE37 1TZ	£1,667	51	2	Flat
£65K	11/21	0.91 mi	50, Alwin, Washington, Tyne And Wear NE38 9EW	-	-	2	Flat
£63.1K	11/20	0.93 mi	3, Drumaldrace, Washington, Tyne And Wear NE37 1SR	£1,539	41	2	Flat
£72.5K	02/23	0.93 mi	24, Drumaldrace, Washington, Tyne And Wear NE37 1SR	£24,167	3	2	Flat
£64K	05/22	0.94 mi	66, Newriggs, Washington, Tyne And Wear NE38 8RT	£1,103	58	2	Flat
£59.5K	02/21	0.95 mi	8, Lingmell, Washington, Tyne And Wear NE37 1TN	£1,102	54	2	Flat
£75K	08/22	0.95 mi	46, Southcroft, Washington, Tyne And Wear NE38 8RD	£1,235	61	2	Flat
£50K	11/22	0.97 mi	1, Lingmell, Washington, Tyne And Wear NE37 1TN	-	-	2	Flat
£68K	05/21	0.97 mi	19, Broadmeadows, Washington, Tyne And Wear NE38 8RQ	£1,214	56	2	Flat
£61K	11/21	0.97 mi	64, Broadmeadows, Washington, Tyne And Wear NE38 8RH	-	-	2	Flat
£275K	12/20	1 mi	20, Liberty Green, Washington, Tyne And Wear NE38 7UA	£1,884	146	2	Flat

Local Rents

12 rents from £595/mo to £2.2K/mo, average is £688/mo.

Rent	Date	Distance	Address	Beds	Type
£595	12/24	0.19 mi	-	2	Flat
£675	09/24	0.21 mi	-	2	Terraced House
£600	12/24	0.23 mi	Mitford Close, Oxclose, Washington, NE38	2	Flat
£700	12/24	0.29 mi	Helvellyn Avenue, Lambton	2	House
£2,200	06/24	0.36 mi	-	2	Flat
£2,200	06/24	0.36 mi	-	2	Flat
£2,200	02/25	0.36 mi	-	2	Flat
£2,200	03/25	0.36 mi	-	2	Flat
£625	05/24	0.4 mi	-	2	Flat
£595	12/24	0.47 mi	Lumley Close, Washington, Tyne and Wear, NE38 0HX	2	Flat
£760	04/25	0.5 mi	-	2	Semi-Detached House
£625	03/25	0.61 mi	-	2	Flat

Local Area Statistics

Population in NE38	31,23231,232
Population in Washington	52,26452,264
Town centre distance	0.81 miles away0.81 miles away
Nearest school	0.20 miles away0.20 miles away
Nearest train station	3.07 miles away3.07 miles away

Rental growth (12m)	+35%+35%
Sales demand	Seller's marketSeller's market
Capital growth (5yrs)	+7%+7%

Property History

Price changed to £60,000

February 20, 2025

Listed for £65,000

November 5, 2024

Floor Plans

Description

Two Bedroom +
Lower Flat +
Potential Rent £650pcm +
Great Location +
EPC - C +

TO BE SOLD VIA ONLINE AUCTION UNTIL: 03/12/2024 at 12:30. Fees apply.

Pattinson Estate Agents are delighted to offer this two bedroom lower flat located on Pentland Close, Washington.

Briefly the property comprises an entrance hall, living room, kitchen diner, two bedrooms and a bathroom.

This property is an ideal first time buy or buy-to-let with a potential rental income of £650pcm.

Sitting within easy access of the A195 connecting to the A182 and the A1 as well as having the Washington Galleries close by, providing access to public transport links, shops and other local amenities.

For more information, or to arrange a viewing please contact us on

Council Tax Band: A
Tenure: Leasehold
Length Of Lease: 97
Annual Ground Rent Amount: £10.00
Annual Service Charge Amount: £1,080.00