3 Bed Semi-Detached House, Cash/Bridging Only, Newcastle upon Tyne, NE15 7BY, £220,000

24 Coldstream Road, Newcastle Upon Tyne, Tyne And Wear, NE15 7BY - 2 views - 4 months ago

Cash
~93 m²
+15 photos

ValuationOvervalued

Sold Prices£91K - £312K
Sold Prices/m²£1.2K/m² - £2.9K/m²

 

 

Square Metres

~93 m²
Price/m²£2.4K/m²

Value Estimate

£172,518

 

 

End Value (After Refurb)

£230,000

Uplift in Value

+-4%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£55,000

Stamp Duty & Legal Fees

£8,400

Refurb Costs

£35,814

Bridging Loan Interest

£5,775

Total Cash In

£106,739

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£230,000

Mortgage (After Refinance)

£172,500

Mortgage LTV

75%

Cash Released

£7,500

Cash Left In

£99,239

Equity

£57,500

Rent Range

£650 - £1,350

Rent Estimate

£941

Running Costs/mo

£927

Cashflow/mo

£14

Cashflow/yr

£169

ROI

0%

Gross Yield

5%

Local Sold Prices

50 sold prices from £91K to £312K, average is £169.8K. £1.2K/m² to £2.9K/m², average is £1.9K/m².

PriceDateDistanceAddressBeds 
£228K03/210.03 mi26, Gretna Road, Newcastle Upon Tyne, Tyne And Wear NE15 7PE3
£213K11/220.05 mi25, Kelso Gardens, Newcastle Upon Tyne, Tyne And Wear NE15 7DB3
£205K12/230.05 mi26, Kelso Gardens, Newcastle Upon Tyne, Tyne And Wear NE15 7DB3
£155K05/240.05 mi37, Kelso Gardens, Newcastle Upon Tyne, Tyne And Wear NE15 7DB3
£195K03/210.06 mi6, Brennan Close, Newcastle Upon Tyne, Tyne And Wear NE15 7PR3
£182K08/210.06 mi1, Brennan Close, Newcastle Upon Tyne, Tyne And Wear NE15 7PR3
£193K12/200.14 mi160, Gretna Road, Newcastle Upon Tyne, Tyne And Wear NE15 7PH3
£185K09/210.14 mi83, Gretna Road, Newcastle Upon Tyne, Tyne And Wear NE15 7PH3
£270K09/230.15 mi18, Countess Drive, Newcastle Upon Tyne, Tyne And Wear NE15 7BT3
£165K10/210.18 mi23, Silverhill Drive, Newcastle Upon Tyne, Tyne And Wear NE5 2EJ3
£267K03/210.21 mi22, Westacres Crescent, Newcastle Upon Tyne, Tyne And Wear NE15 7PB3
£312K01/230.21 mi28, Westacres Crescent, Newcastle Upon Tyne, Tyne And Wear NE15 7PB3
£213K05/230.21 mi56, Earls Drive, Newcastle Upon Tyne, Tyne And Wear NE15 7AL3
£187K08/240.21 mi15, Burnopfield Gardens, Newcastle Upon Tyne, Tyne And Wear NE15 7DN3
£225K12/200.22 mi43, Countess Drive, Newcastle Upon Tyne, Tyne And Wear NE15 7AD3
£125K05/210.22 mi18, Tanfield Road, Newcastle Upon Tyne, Tyne And Wear NE15 7DT3
£165K05/230.22 mi7, Westacre Gardens, Newcastle Upon Tyne, Tyne And Wear NE5 2EQ3
£172K10/230.24 mi460, West Road, Newcastle Upon Tyne, Tyne And Wear NE5 2ER3
£121K06/230.26 mi2, Fergusons Lane, Newcastle Upon Tyne, Tyne And Wear NE15 7PL3
£167.5K09/210.26 mi42, Fergusons Lane, Newcastle Upon Tyne, Tyne And Wear NE15 7DY3
£280K11/210.26 mi24, Thorntree Drive, Newcastle Upon Tyne, Tyne And Wear NE15 7AR3
£205K07/230.27 mi49, Bruce Gardens, Newcastle Upon Tyne, Tyne And Wear NE5 2EA3
£180K03/240.27 mi25, Bruce Gardens, Newcastle Upon Tyne, Tyne And Wear NE5 2EA3
£264.3K02/230.27 mi66, Westacres Crescent, Newcastle Upon Tyne, Tyne And Wear NE15 7PD3
£150K11/230.28 mi15, Bainford Avenue, Newcastle Upon Tyne, Tyne And Wear NE15 7AN3
£140K11/230.28 mi2, Bramble Dykes, Newcastle Upon Tyne, Tyne And Wear NE15 7PN3
£167K08/210.29 mi23, Benwell Hill Road, Newcastle Upon Tyne, Tyne And Wear NE5 2DY3
£105K05/230.3 mi13, Fox & Hounds Lane, Newcastle Upon Tyne, Tyne And Wear NE15 6LR3
£155K07/230.31 mi564, West Road, Newcastle Upon Tyne, Tyne And Wear NE5 2JJ3
£155K07/230.31 mi564, West Road, Newcastle Upon Tyne, Tyne And Wear NE5 2JJ3
£91K02/210.31 mi190, Whickham View, Newcastle Upon Tyne, Tyne And Wear NE15 6TH3
£160K02/230.32 mi58, Henshaw Place, Newcastle Upon Tyne, Tyne And Wear NE5 2HL3
£110K11/210.32 mi44, Henshaw Place, Newcastle Upon Tyne, Tyne And Wear NE5 2HL3
£160K11/230.32 mi7, Henshaw Place, Newcastle Upon Tyne, Tyne And Wear NE5 2HL3
£120K10/230.32 mi151, Whickham View, Newcastle Upon Tyne, Tyne And Wear NE15 6TD3
£115K03/230.33 mi16, Pease Avenue, Newcastle Upon Tyne, Tyne And Wear NE15 6PU3
£105K04/230.33 mi24, Pease Avenue, Newcastle Upon Tyne, Tyne And Wear NE15 6PU3
£186K11/220.33 mi4, Countess Drive, Newcastle Upon Tyne, Tyne And Wear NE15 7AB3
£173K11/200.34 mi52, Baroness Drive, Newcastle Upon Tyne, Tyne And Wear NE15 7AU3
£210K03/230.34 mi42, Baroness Drive, Newcastle Upon Tyne, Tyne And Wear NE15 7AU3
£156K06/230.36 mi7, Earls Drive, Newcastle Upon Tyne, Tyne And Wear NE15 7AJ3
£153K11/210.37 mi51, Thorntree Drive, Newcastle Upon Tyne, Tyne And Wear NE15 7AS3
£127K03/210.38 mi343, Denton Road, Newcastle Upon Tyne, Tyne And Wear NE15 7HL3
£155K11/200.38 mi9, Benwell Hill Road, Newcastle Upon Tyne, Tyne And Wear NE5 2EP3
£117K08/210.38 mi41, Adair Avenue, Newcastle Upon Tyne, Tyne And Wear NE15 6QD3
£152.5K01/210.38 mi26, Duchess Drive, Newcastle Upon Tyne, Tyne And Wear NE15 7AX3
£173.5K02/230.39 mi374, West Road, Newcastle Upon Tyne, Tyne And Wear NE4 9RJ3
£175K03/230.4 mi7, Rothley Avenue, Newcastle Upon Tyne, Tyne And Wear NE5 2DU3
£220K02/230.41 mi16, Rothley Avenue, Newcastle Upon Tyne, Tyne And Wear NE5 2DU3
£217K08/230.41 mi315, Denton Road, Newcastle Upon Tyne, Tyne And Wear NE15 7HJ3

Local Rents

17 rents from £650/mo to £1.4K/mo, average is £950/mo.

RentDateDistanceAddressBeds 
£75006/240.27 miCastleside Road, Denton Burn, Newcastle upon Tyne, NE153
£95002/250.37 mi-3
£1,10002/250.39 mi-3
£87501/250.39 mi-3
£95012/240.41 mi-3
£95003/250.43 mi-3
£95012/240.45 mi-3
£65007/240.46 mi-3
£65009/240.46 mi-3
£65009/240.46 mi-3
£90012/240.46 mi-3
£65005/240.5 miHowdene Road, Denton Burn, Newcastle3
£90005/240.55 miCaroline Cottages, Slatyford, Newcastle upon Tyne, Tyne and Wear, NE5 2TD3
£1,35012/240.58 mi-3
£1,35007/240.58 mi-3
£95012/240.59 mi-3
£95012/240.59 miOvington Grove, Newcastle Upon Tyne, NE53

Local Area Statistics

Population in NE15

32,552

Population in Newcastle upon Tyne

381,037

Town centre distance

2.18 miles away

Nearest school

0.10 miles away

Nearest train station

1.47 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+22%

Sales demand

Seller's market

Capital growth (5yrs)

+11%

Property History

Price changed to £220,000

February 24, 2025

Listed for £240,000

November 12, 2024

Sold for £74,000

2002

Sold for £52,000

1999

Sold for £39,000

1995

Floor Plans

Description

  • Double Glazing +
  • Freehold Property +
  • Gas Central Heating +
  • Many Local Amenities +
  • Popular Residential Area +
  • Spacious Kitchen Diner +
  • Superb Corner Plot +
  • Superb Transport Links +
  • Three Generous Bedrooms +
  • Garage & Two Drives +

Jan Mitchell Properties are delighted to bring to the market this stunning three bedroom, period semi detached family home, situated on a superb corner plot, within the on the sought-after Thorntree Estate to the West of Newcastle.

Internally the property is well presented with neutral décor throughout, and very much ready to move into, briefly compressing:- Entrance vestibule, entrance hall with large store cupboard, lounge with bay window and feature fireplace and then a semi open plan kitchen diner with rear access making it a perfect space for entertaining.

Upstairs, you'll discover two large double bedrooms, one with fitted wardrobes and other with bay window and a well proportioned third also with feature bay window, along with a well-appointed four-piece family bathroom with separate bath and shower.

Externally, the property features a gated front driveway for convenient off-street parking. To the rear, a low-maintenance yard provides access to a detached garage, with two additional parking spaces in front and then the main sunny garden to the side consisting of decked, lawned and bedded sections.

Location
This home located in a prime area just west of Newcastle upon Tyne, around 4 miles from the city center. It falls within the catchment area for Bridgewater Primary and St. Cuthbert's High School. Local amenities include the Best One store, Denton Burn Library, a convenience shop, petrol station, Sainsbury's, various takeaways, and The Denton Pub. Nearby Slatyford Lane offers a medical center and the Denton Burn Community Association, with West Road providing access to a park, perfect for family outings. The St. James Retail Park (Iceland, Lidl, B&M Bargains, Costa Coffee) and Kingston Park (Tesco 24-hour, Matalan, TK Maxx, Boots, Next) are both close by. Excellent road access connects you to the A167, A69, A1, and other major routes to Kingston Park Retail, the INTU Metro Centre, Team Valley, and beyond.

IMPORTANT NOTE TO PURCHASERS
We endeavour to make our property details accurate, however, they do not constitute or form part of an offer or any contract and are not to relied upon as statements of representation or fact. Any services, systems and appliances listed in the details have not been tested by us and no guarantee is given to their operating ability or efficiency. All the measurements and floor plans have been taken as a guide to prospective purchasers and are not to be relied upon. Please be advised that some of the information may be awaiting vendor approval. If you require clarification of further information on any points please contact us direct.

MAKING AN OFFER Please note that all offers will require financial verification including mortgage agreement in principle, proof of deposit funds, proof of available cash and full chain details including selling agents and solicitors down the chain. Under New Money Laundering Regulations we require proof of identification from all buyers before acceptance letters are sent and solicitors can be instructed.

Tenure - We are not able to verify the tenure of the property as it is not always possible to see sight of the relevant documentation prior to marketing. Prospective purchasers must make further enquiries with their legal adviser.

Council Tax Band: B (Newcastle City Council)
Tenure: Freehold

Agent Details

Jan Mitchell Properties, Covering North East

0191 625 1034

Next Steps?

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