2 Bed Flat, Single Let, Gateshead, NE11 9LA, £55,000

Moorfoot Gardens, Lobley Hill, NE11 9LA - 4 months ago

Leasehold
BTL
ROI: 20%
~68 m²
+13 photos

ValuationUndervalued

Sold Prices£40K - £295K
Sold Prices/m²£635/m² - £2.2K/m²

 

 

Square Metres

~68.11 m²
Price/m²£808/m²

Value Estimate

£67,100
BMV22%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£13,750

Stamp Duty & Legal Fees

£2,850

Total Cash In

£16,600

 

 

Cash Out

 

Rent Range

£590 - £1,050

Rent Estimate

£592

Running Costs/mo

£310

Cashflow/mo

£282

Cashflow/yr

£3,381

ROI

20%

Gross Yield

13%

Local Sold Prices

50 sold prices from £40K to £295K, average is £78.8K. £635/m² to £2.2K/m², average is £1.2K/m².

PriceDateDistanceAddressBeds 
£55.5K10/200.01 mi22, Moorfoot Gardens, Gateshead, Tyne And Wear NE11 9LA2
£77K07/230.01 mi22, Moorfoot Gardens, Gateshead, Tyne And Wear NE11 9LA2
£72K01/210.23 mi54, Cotswold Gardens, Gateshead, Tyne And Wear NE11 9LD2
£70K01/210.26 mi64, Oak Avenue, Gateshead, Tyne And Wear NE11 9UR2
£68.5K06/210.29 mi22, Holly Avenue, Gateshead, Tyne And Wear NE11 9UT2
£75K11/220.37 mi38, Oak Avenue, Gateshead, Tyne And Wear NE11 9UQ2
£95K05/220.37 mi48, Palatine Place, Gateshead, Tyne And Wear NE11 9SR2
£98K10/210.37 mi43, Palatine Place, Gateshead, Tyne And Wear NE11 9SR2
£96K11/220.37 mi7, Palatine Place, Gateshead, Tyne And Wear NE11 9SR2
£88K05/220.37 mi11, Palatine Place, Gateshead, Tyne And Wear NE11 9SR2
£96K02/230.37 mi50, Palatine Place, Gateshead, Tyne And Wear NE11 9SR2
£90K01/240.37 mi12, Palatine Place, Gateshead, Tyne And Wear NE11 9SR2
£85K06/220.37 mi42, Palatine Place, Gateshead, Tyne And Wear NE11 9SR2
£88.5K08/220.4 mi50, Mountside Gardens, Gateshead, Tyne And Wear NE11 9QB2
£72K06/220.43 mi22, Wynyard Street, Gateshead, Tyne And Wear NE11 9NR2
£77.5K10/230.44 mi98, Haig Street, Gateshead, Tyne And Wear NE11 9BN2
£84K01/210.45 mi34, Glebe Terrace, Gateshead, Tyne And Wear NE11 9NQ2
£74K08/210.5 mi28, Renforth Street, Gateshead, Tyne And Wear NE11 9BE2
£75K12/200.5 mi19, Renforth Street, Gateshead, Tyne And Wear NE11 9BE2
£73K10/200.56 mi77, Clephan Street, Gateshead, Tyne And Wear NE11 9BB2
£82.5K08/220.56 mi67, Clephan Street, Gateshead, Tyne And Wear NE11 9BB2
£77K09/230.63 mi1, Firwood Gardens, Gateshead, Tyne And Wear NE11 0DL2
£40K10/230.66 mi59, Wooler Crescent, Gateshead, Tyne And Wear NE8 2TP2
£55.3K10/230.72 mi113, Lobley Hill Road, Gateshead, Tyne And Wear NE8 4XB2
£55.3K10/230.72 mi115, Lobley Hill Road, Gateshead, Tyne And Wear NE8 4XB2
£295K01/210.72 miApartment 1, The Mansion House, Mansion Heights, Gateshead, Tyne And Wear NE11 9DA2
£65K12/230.72 mi23, Parsons Gardens, Gateshead, Tyne And Wear NE11 9ET2
£54K12/220.72 mi69, Lobley Hill Road, Gateshead, Tyne And Wear NE8 4XB2
£72K01/240.74 mi129, Meadow Lane, Gateshead, Tyne And Wear NE11 9PP2
£65K10/220.74 mi116, Meadow Lane, Gateshead, Tyne And Wear NE11 9PP2
£77K10/210.77 mi30, Baker Gardens, Dunston, Gateshead, Tyne And Wear NE11 9HA2
£66K05/210.77 mi4, Baker Gardens, Dunston, Gateshead, Tyne And Wear NE11 9HA2
£73.5K05/230.77 mi15, Baker Gardens, Dunston, Gateshead, Tyne And Wear NE11 9HA2
£60K07/220.78 mi45, Wellington Road, Gateshead, Tyne And Wear NE11 9HD2
£71K08/210.8 mi124, Dunston Road, Gateshead, Tyne And Wear NE11 9EH2
£102.5K03/230.83 mi30, Newton Street, Dunston, Gateshead, Tyne And Wear NE11 9HH2
£95K07/230.84 mi56, Cormorant Drive, Gateshead, Tyne And Wear NE11 9LF2
£85K08/220.84 mi3, Cormorant Drive, Gateshead, Tyne And Wear NE11 9LF2
£115K01/230.84 mi48, Cormorant Drive, Gateshead, Tyne And Wear NE11 9LF2
£76K11/200.87 mi40, Dunston Road, Gateshead, Tyne And Wear NE11 9EE2
£80K07/220.88 mi71, Grebe Close, Gateshead, Tyne And Wear NE11 9FD2
£86K08/210.88 mi83, Grebe Close, Gateshead, Tyne And Wear NE11 9FD2
£129K07/240.88 mi75, Grebe Close, Gateshead, Tyne And Wear NE11 9FD2
£110K03/230.88 mi51, Grebe Close, Gateshead, Tyne And Wear NE11 9FD2
£120K10/220.88 mi27, Grebe Close, Gateshead, Tyne And Wear NE11 9FD2
£95.8K07/220.89 mi7, Grebe Close, Gateshead, Tyne And Wear NE11 9FD2
£102K04/240.89 mi4, Bittern Close, Dunston, Gateshead, Tyne And Wear NE11 9FG2
£94K09/220.91 mi7, Bittern Close, Dunston, Gateshead, Tyne And Wear NE11 9FF2
£133K11/200.91 mi8, Kingfisher Court, Gateshead, Tyne And Wear NE11 9FB2
£133K07/230.91 mi9, Kingfisher Court, Gateshead, Tyne And Wear NE11 9FB2

Local Rents

31 rents from £590/mo to £1.1K/mo, average is £750/mo.

RentDateDistanceAddressBeds 
£75006/240.22 mi-2
£75003/250.22 mi-2
£82505/230.23 mi-2
£85005/240.23 mi-2
£82006/240.25 miScafell Gardens, Gateshead2
£69506/240.27 miHolly Avenue, Dunston, NE112
£85007/240.35 miPalatine Place, Gateshead, Tyne and Wear, NE112
£85006/240.36 mi-2
£85007/240.36 mi-2
£82508/240.36 mi-2
£85007/240.36 miPalatine Place, Gateshead, NE112
£85007/240.36 miPalatine Place, Gateshead, NE112
£85007/240.36 miPalatine Place, Gateshead, NE112
£70008/240.36 mi-2
£60001/240.37 mi-2
£60001/240.37 mi-2
£67503/250.37 mi-2
£62502/250.37 mi-2
£75005/240.42 mi-2
£60002/250.43 mi-2
£62506/240.44 miHaig Street, Dunston, Gateshead, Tyne & Wear, NE112
£75005/240.44 mi-2
£65002/240.49 mi-2
£1,05007/240.49 miCragside Gardens, Gateshead, NE112
£1,05008/240.49 mi-2
£59506/240.51 mi-2
£59012/230.53 mi-2
£67507/240.6 miDunston, Gateshead, NE112
£65005/240.6 mi-2
£67507/240.6 mi-2
£70002/250.6 mi-2

Local Area Statistics

Population in NE11

16,348

Population in Gateshead

122,353

Town centre distance

2.12 miles away

Nearest school

0.40 miles away

Nearest train station

0.34 miles away

 

 

Rental growth (12m)

+34%

Sales demand

Seller's market

Capital growth (5yrs)

+30%

Property History

Listed for £55,000

November 6, 2024

Description

  • Requires Updating +

  • Two Bedrooms +

  • Ground Floor Flat +

  • Communal Gardens +

  • Council Tax Band A +

  • EPC Rating C +

This ground floor flat requires UPDATING AND REFURBISHMENT and will appeal to first time buyers and investors alike. The living space includes an open plan lounge/diner, kitchen, utility room, TWO DOUBLE BEDROOMS, bathroom and separate wc. The development is set within well tended communal gardens. The property's location offers convenient access to local amenities and facilities whilst transport routes and services provide commuter links to the surrounding areas.

Agent Details

Sarah Mains Residential Sales and Lettings, Whickham

0191 625 1022

Next Steps?

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