2 Bed Bungalow, Refurb/BRRR, Cramlington, NE23 6BJ, £185,000

Hareside, Whitelea, Cramlington, NE23 6BJ - 5 months ago

Sold STC
Refurb/BRRR
~68 m²
+3 photos

ValuationOvervalued

Sold Prices£47K - £279.9K
Sold Prices/m²£870/m² - £4.4K/m²

 

 

Square Metres

~68.11 m²
Price/m²£2.7K/m²

Value Estimate

£146,678

 

 

End Value (After Refurb)

£180,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£46,250

Stamp Duty & Legal Fees

£6,750

Refurb Costs

£26,073

Bridging Loan Interest

£4,856

Total Cash In

£85,679

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£180,000

Mortgage (After Refinance)

£135,000

Mortgage LTV

75%

Cash Left In

£85,679

Equity

£45,000

Rent Range

£525 - £875

Rent Estimate

£678

Running Costs/mo

£718

Cashflow/mo

£-40

Cashflow/yr

£-481

Gross Yield

4%

Local Sold Prices

49 sold prices from £47K to £279.9K, average is £125K. £870/m² to £4.4K/m², average is £2.2K/m².

PriceDateDistanceAddressBeds 
£140K10/230.07 mi10, Highburn, Cramlington, Northumberland NE23 6BD2
£149.9K05/210.07 mi16, Highburn, Cramlington, Northumberland NE23 6BD2
£185K02/240.1 mi103, Hareside, Cramlington, Northumberland NE23 6BL2
£279.9K10/220.13 mi20, Mirlaw Road, Cramlington, Northumberland NE23 6TX2
£174.5K01/210.13 mi10, Mirlaw Road, Cramlington, Northumberland NE23 6TX2
£90K10/230.13 mi45, Monkside, Cramlington, Northumberland NE23 6JT2
£65K02/240.13 mi31, Monkside, Cramlington, Northumberland NE23 6JT2
£184.9K10/230.14 mi3, Morwick Close, Cramlington, Northumberland NE23 6UE2
£183K10/200.14 mi3, Morwick Close, Cramlington, Northumberland NE23 6UE2
£215K08/240.18 mi9, Manningford Close, Cramlington, Northumberland NE23 6AT2
£130K03/210.19 mi120, Monkside, Cramlington, Northumberland NE23 6JX2
£225K02/230.22 mi5, Minting Place, Cramlington, Northumberland NE23 6AU2
£169.9K03/210.31 mi6, Malden Close, Cramlington, Northumberland NE23 6AY2
£225K03/230.31 mi12, Malden Close, Cramlington, Northumberland NE23 6AY2
£112K03/240.32 mi3, Dukesfield, Cramlington, Northumberland NE23 6DL2
£110K05/240.35 mi25, Akeld Close, Cramlington, Northumberland NE23 6JL2
£80K11/200.36 mi29, Anton Place, Cramlington, Northumberland NE23 6JH2
£95K12/230.37 mi98, Anton Place, Cramlington, Northumberland NE23 6JJ2
£115K06/210.38 mi69, Chesterhill, Cramlington, Northumberland NE23 6JW2
£112K11/200.38 mi55, Chesterhill, Cramlington, Northumberland NE23 6JW2
£122K06/240.44 mi11, Chesterhill, Cramlington, Northumberland NE23 6JN2
£187K05/210.45 mi8, Ganton Avenue, Cramlington, Northumberland NE23 6EL2
£47K01/230.45 mi6, Chirnside, Cramlington, Northumberland NE23 6LQ2
£147.5K04/230.46 mi46, Sunnyside, Cramlington, Northumberland NE23 6UX2
£239.5K10/230.47 mi5, Gresham Close, Cramlington, Northumberland NE23 6EJ2
£74K12/230.47 mi84, Gresham Close, Cramlington, Northumberland NE23 6EJ2
£260K07/240.47 mi2, Gresham Close, Cramlington, Northumberland NE23 6EJ2
£76K03/230.47 mi46, Coltpark Place, Cramlington, Northumberland NE23 6HL2
£125K07/210.48 mi6, Crofthead Drive, Cramlington, Northumberland NE23 6LG2
£70K11/220.5 mi1, Craigend, Cramlington, Northumberland NE23 6LF2
£110K04/230.52 mi35, Coanwood Drive, Cramlington, Northumberland NE23 6TL2
£107K12/230.54 mi11, Chipchase Avenue, Cramlington, Northumberland NE23 6TS2
£120K10/210.55 mi132, Clifton Road, Cramlington, Northumberland NE23 6TJ2
£110K11/230.55 mi138, Clifton Road, Cramlington, Northumberland NE23 6TJ2
£208.5K08/230.55 mi17, Glencoe Avenue, Cramlington, Northumberland NE23 6EH2
£158K06/210.55 mi23, Gilderdale Way, Cramlington, Northumberland NE23 6PL2
£147K11/200.55 mi20, Gilderdale Way, Cramlington, Northumberland NE23 6PL2
£154K06/240.56 mi19, Carlcroft Place, Cramlington, Northumberland NE23 6ET2
£138K10/210.64 mi33, Cambo Drive, Cramlington, Northumberland NE23 6TN2
£88K08/230.64 mi78, Westerkirk, Cramlington, Northumberland NE23 6NE2
£190K01/240.64 mi51, Westerkirk, Cramlington, Northumberland NE23 6NE2
£200K07/240.66 mi20, Greystoke Place, Cramlington, Northumberland NE23 6NJ2
£100K06/210.66 mi100, Clifton Road, Cramlington, Northumberland NE23 6TH2
£194K07/230.66 mi114, Clifton Road, Cramlington, Northumberland NE23 6TH2
£80K11/230.66 mi15, Woodhill Road, Cramlington, Northumberland NE23 6JG2
£85K03/210.68 mi67, Thirston Drive, Cramlington, Northumberland NE23 2BX2
£63K07/240.7 mi42, Whitelaw Place, Cramlington, Northumberland NE23 6HY2
£122.8K12/220.71 mi17, Wedder Law, Cramlington, Northumberland NE23 6LP2
£111.7K02/210.73 mi22, Wedder Law, Cramlington, Northumberland NE23 6LR2

Local Rents

12 rents from £525/mo to £875/mo, average is £663/mo.

RentDateDistanceAddressBeds 
£52505/240.32 miDewley, Cramlington2
£59505/240.41 miDipton Grove, Cramlington, Northumberland2
£65006/240.45 miChirnside, Cramlington, Northumberland, NE23 6LQ2
£65007/240.45 miChirnside, Cramlington, NE232
£87505/240.5 miCairnsmore Close, Cramlington2
£70005/240.52 miCoanwood Drive, Cramlington2
£75006/240.54 miTwo Bedroom Semi Detached - Chipchase Avenue, Cramlington2
£75007/240.54 miTwo Bedroom Semi Detached - Chipchase Avenue, Cramlington2
£67508/240.56 mi-2
£62012/230.57 mi-2
£69507/240.58 miEast View Avenue, Newcastle2
£65006/240.59 miLindsey Close, Cramlington, NE232

Local Area Statistics

Population in NE23

39,162

Population in Cramlington

39,226

Town centre distance

0.54 miles away

Nearest school

0.10 miles away

Nearest train station

0.66 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

-10%

Sales demand

Seller's market

Capital growth (5yrs)

+31%

Property History

Listed for £185,000

November 15, 2024

Floor Plans

Description

A two bedroomed detached bungalow situated on the popular whitelea estate close to Hareside primary school, bus routes and within easy reach of Cramlington town centre. The property, which is in need of modernisation throughout is on a large corner site.

Freehold
Council Tax Band - C
EPC Rating - D

Entrance Hall
Cupboard containing Johnson & Starley boiler, loft hatch to roof space.

Living Room 5.08m (16'8") x 3.66m (12'0")
Gas fire, TV point, fitted vertical blinds.

Kitchen 2.79m (9'2") x 2.36m (7'9")
Fitted with a range of base and wall units, stainless steel sink unit and mixer tap, space for cooker, space for fridge, space for freezer, tiled walls, lino flooring, door leading to the garage.

Bedroom One 3.63m (11'11") x 3.48m (11'5")
Fitted wardrobes, fitted vertical blinds.

Bedroom Two 2.82m (9'3") x 2.67m (8'9")
Built in wardrobes, fitted blinds.

Bathroom
Shower compartment with glazed screen, triton electric shower, wash hand basin, low level wc set, tiled and wood panelled walls, lino flooring, fitted roller blind.

Externally
To the rear there is a paved patio area, lawn, mature trees and timber fencing. To the front there is a driveway, raised lawn and mature tree.

Tenure
Freehold

Agent Details

Renown Estate Agents, Cramlington

01670 331202

Next Steps?

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