2 Bed Flat, Potential PLO/LOA, South Shields, NE34 0JZ, £69,000

Brabourne Street, South Shields, NE34 0JZ - 5 months ago

Leasehold
Negative Equity
ROI: 13%
~68 m²
+3 photos

ValuationUndervalued

Sold Prices£37K - £117K
Sold Prices/m²£323/m² - £2.6K/m²

 

 

Square Metres

~68.11 m²
Price/m²£1K/m²

Value Estimate

£71,390
BMV21%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£17,250

Stamp Duty & Legal Fees

£2,970

Total Cash In

£20,220

 

 

Cash Out

 

Rent Range

£475 - £795

Rent Estimate

£500

Running Costs/mo

£336

Cashflow/mo

£164

Cashflow/yr

£1,973

ROI

10%

Gross Yield

9%

Local Sold Prices

50 sold prices from £37K to £117K, average is £73.5K. £323/m² to £2.6K/m², average is £1.1K/m².

PriceDateDistanceAddressBeds 
£67.5K12/220.01 mi49, Brabourne Street, South Shields, Tyne And Wear NE34 0JZ2
£50K01/230.01 mi38, Brabourne Street, South Shields, Tyne And Wear NE34 0JZ2
£56K03/210.13 mi292, Stanhope Road, South Shields, Tyne And Wear NE33 4QZ2
£107.5K05/210.13 mi326, Stanhope Road, South Shields, Tyne And Wear NE33 4QZ2
£37K06/210.14 mi102, Boldon Lane, South Shields, Tyne And Wear NE34 0BY2
£37.5K11/200.14 mi17, Egerton Road, South Shields, Tyne And Wear NE34 0QH2
£83.5K10/230.18 mi57, Gordon Road, South Shields, Tyne And Wear NE34 0QR2
£82K07/220.19 mi10, Crofton Street, South Shields, Tyne And Wear NE34 0QP2
£39.9K07/210.22 mi34, Talbot Road, South Shields, Tyne And Wear NE34 0QJ2
£65K05/210.23 mi58, Nora Street, South Shields, Tyne And Wear NE34 0RB2
£78K06/220.23 mi78, Nora Street, South Shields, Tyne And Wear NE34 0RB2
£48K11/200.26 mi157, Talbot Road, South Shields, Tyne And Wear NE34 0RG2
£74K11/200.26 mi164, Talbot Road, South Shields, Tyne And Wear NE34 0RF2
£42K11/200.27 mi194, Stanhope Road, South Shields, Tyne And Wear NE33 4ST2
£63K05/220.28 mi13, Cranford Street, South Shields, Tyne And Wear NE34 0QN2
£68K05/210.3 mi313, Stanhope Road, South Shields, Tyne And Wear NE33 4SS2
£100K09/230.3 mi64, Ashley Road, South Shields, Tyne And Wear NE34 0PD2
£107K08/230.3 mi92, Ashley Road, South Shields, Tyne And Wear NE34 0PD2
£95K12/230.32 mi23, Low Lane, South Shields, Tyne And Wear NE34 0LG2
£80K03/210.32 mi12, Low Lane, South Shields, Tyne And Wear NE34 0LG2
£90K10/220.32 mi11, Low Lane, South Shields, Tyne And Wear NE34 0LG2
£73K01/210.32 mi184, Ashley Road, South Shields, Tyne And Wear NE34 0PQ2
£90K03/230.44 mi6, Mackley Close, South Shields, Tyne And Wear NE34 0LJ2
£84.5K06/210.45 mi125, Birchington Avenue, South Shields, Tyne And Wear NE33 4SB2
£65K08/210.54 mi241, Dean Road, South Shields, Tyne And Wear NE33 5LD2
£75K06/210.54 mi92, Birchington Avenue, South Shields, Tyne And Wear NE33 4SA2
£68K03/210.55 mi12, Thornton Avenue, South Shields, Tyne And Wear NE33 5SZ2
£70K08/210.55 mi386, Dean Road, South Shields, Tyne And Wear NE33 5LL2
£72K06/230.62 mi39, West Park Road, South Shields, Tyne And Wear NE33 4LB2
£52.5K09/210.63 mi367, Taylor Street, South Shields, Tyne And Wear NE33 5AW2
£53K10/230.63 mi387, Taylor Street, South Shields, Tyne And Wear NE33 5AW2
£76.5K06/210.64 mi11, Pembroke Terrace, South Shields, Tyne And Wear NE33 4LG2
£90K11/210.65 mi15, Shrewsbury Terrace, South Shields, Tyne And Wear NE33 4LF2
£82.5K09/230.65 mi12, Clifton Terrace, South Shields, Tyne And Wear NE33 4LD2
£45K07/210.68 mi91, Collingwood Street, South Shields, Tyne And Wear NE33 4JZ2
£74K06/230.7 mi18, Crondall Street, South Shields, Tyne And Wear NE33 4BL2
£78K06/210.72 mi22, Newbury Street, South Shields, Tyne And Wear NE33 4UE2
£85K05/230.73 mi19, Birchington Avenue, South Shields, Tyne And Wear NE33 4TY2
£73K11/210.77 mi41, Oxford Street, South Shields, Tyne And Wear NE33 4BH2
£95K11/210.77 mi50, Oxford Street, South Shields, Tyne And Wear NE33 4BH2
£70K02/210.79 mi107, Mortimer Road, South Shields, Tyne And Wear NE33 4UH2
£117K12/230.79 mi64, Warwick Road, South Shields, Tyne And Wear NE34 0SQ2
£108K09/210.79 mi40, Warwick Road, South Shields, Tyne And Wear NE34 0SQ2
£110K09/210.8 mi84, Hepscott Terrace, South Shields, Tyne And Wear NE33 4TJ2
£53.5K06/230.82 mi129, Alice Street, South Shields, Tyne And Wear NE33 5PG2
£58.5K07/230.84 mi117, Marlborough Street South, South Shields, Tyne And Wear NE33 4DB2
£110K07/210.87 mi36, Cauldwell Place, South Shields, Tyne And Wear NE34 0SA2
£56K12/220.87 mi2, Oxford Avenue, South Shields, Tyne And Wear NE33 4TW2
£80.5K01/230.88 mi83, Canterbury Street, South Shields, Tyne And Wear NE33 4DD2
£55K01/210.9 mi26, Northcote Street, South Shields, Tyne And Wear NE33 4BY2

Local Rents

32 rents from £475/mo to £795/mo, average is £638/mo.

RentDateDistanceAddressBeds 
£67002/250.03 mi-2
£65003/250.03 mi-2
£62512/230.05 mi-2
£65012/240.06 miLow Lane, South Shields, Tyne And Wear, NE342
£50006/240.1 miWest Harton, South Shields, NE34 0JR2
£60008/240.13 mi-2
£75003/250.14 mi-2
£65009/230.16 mi-2
£65009/230.16 mi-2
£62505/240.16 miGordon Road, South Shields, Tyne and Wear, NE342
£65010/230.19 mi-2
£52009/230.2 mi-2
£60011/230.21 mi-2
£60003/250.22 mi-2
£65006/240.22 miWestcott Road, South Shields2
£65006/240.22 miTalbot Road, South Shields, South Tyneside2
£58509/240.23 mi-2
£75003/250.23 mi-2
£47512/240.25 mi33 Revesby Street South Shields NE33 4SY2
£60012/230.25 mi-2
£52003/240.29 mi-2
£62506/240.3 miAshley Road, South Shields2
£60003/250.3 mi-2
£79505/240.37 miNora Street, South Shields2
£79505/240.38 miBluebell Way, South Shields, Tyne and Wear, NE34 0BZ2
£68503/250.52 mi-2
£55005/240.54 mi-2
£69512/240.55 mi-2
£65004/240.55 mi-2
£50010/230.55 mi-2
£59912/240.57 mi-2
£77505/240.57 miCollin Drive, South Shields2

Local Area Statistics

Population in NE34

52,101

Population in South Shields

79,432

Town centre distance

0.80 miles away

Nearest school

0.20 miles away

Nearest train station

0.14 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+35%

Sales demand

Seller's market

Capital growth (5yrs)

+27%

Property History

Price changed to £69,000

December 13, 2024

Listed for £59,000

-10%

November 13, 2024

Sold for £65,000

2006

Description

  • Investors Opportunity, Tenant Sold In Situ +
  • Option to Buy Without Tenant Also +
  • Great Location For Amenities +
  • Long Term Tenant +
  • Current Tenant Pays £500.00PCM +
  • The property is Leasehold with a term of 999 Years from 1st November 2006. +
  • Reference : 447084 +

INVESTMENT OPPORTUNITY Presenting a Two Bedroom Ground Floor Flat conveniently located just off Boldon Lane, this property offers an excellent investment opportunity as the property is to be sold with the current tenant in situ. It can be possible to sell without the tenant if needs be. Its proximity to various amenities makes it an attractive choice for residents seeking convenience and accessibility.

Situated within easy reach of Tyne Dock metro station, commuting across the North East is made effortless. Additionally, there is a great range of shops on Boldon Lane, West Harton Methodist Church, and South Tyneside District Hospital is within proximity, to ensure that essential services and facilities are within immediate access.

The floorplan of the flat encompasses an entrance hallway, a spacious lounge, a master bedroom positioned at the front, a second bedroom, and a contemporary fitted kitchen and bathroom. The layout is designed to maximize comfort and functionality for residents.

Externally, the property offers a generous sized garden to the rear.
ENTRANCE
Via composite door into Hallway.
HALLWAY
Laminate flooring, radiator, access to Master Bedroom, Bedroom Two and Lounge.
MASTER BEDROOM 4.2m (13'9) x 4.5m (14'9)
Double glazed window and radiator.
BEDROOM TWO 2.16m (7'1) x 3.42m (11'3)
Double glazed window and radiator.
LOUNGE 3.88m (12'9) x 4.48m (14'8)
Double glazed window and radiator. Door into Kitchen.
KITCHEN 4m (13'1) x 2.35m (7'9)
Fitted with wall and base units with granite worktops, sink unit with mixer tap, electric oven and hob with extractor hood, tiling to floor, double glazed window, integrated microwave, radiator, double glazed door to rear and door into Bathroom.
BATHROOM
Panelled bath with shower over and shower screen, sink with vanity unit,, low level W.C., chrome radiator, tiling to walls and floor.
EXTERNALLY
Private yard to rear with electric roller shutter door for parking.
Tenure
The property is Leasehold with a term of 999 Years from 1st November 2006.
The Agent Of The North
Andrew Craig is The Agent of the North and as Chartered Surveyors we can help you with all your Residential and Commercial property needs. Sales, Conveyancing, Lettings, Property Management, Surveys and Valuations. Call now on
Material Information
The information provided about this property does not constitute or form part of an offer or contract, nor may it be regarded as representations. All interested parties must verify accuracy and your solicitor must verify tenure and lease information, fixtures and fittings and, where the property has been recently constructed, extended or converted, that planning/building regulation consents are in place. All dimensions are approximate and quoted for guidance only, as are floor plans which are not to scale and their accuracy cannot be confirmed. Reference to appliances and/or services does not imply that they are necessarily in working order or fit for purpose. We offer our clients an optional conveyancing service, through panel conveyancing firms, via Move With Us and we receive on average a referral fee of one hundred and ninety four pounds, only on completion of the sale. If you do use this service, the referral fee is included within the amount that you will be quoted by our suppliers. All quotes will also provide details of referral fees payable.
Tenure
We will provide as much information about tenure as we are able to and in the case of leasehold properties, we can in most cases provide a copy of the lease. They can be complex and buyers are advised to take legal advice upon the full terms of a lease. Where a lease is not readily available we will apply for a copy and this can take time.
Broadband & Mobile Coverage
Ofcom website states the average broadband download speed of 3 Mbps and a maximum download speed of 1000 Mbps at this postcode: NE340JZ and mobile coverage is provided by EE, Three, 02 and Vodaphone.

EPC Rating: C
Council Tax
The GOV.UK website states the property is Council Tax Band A

Agent Details

Andrew Craig, South Shields

0191 625 0766

Next Steps?

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