3 Bed Terraced House, Refurb/BRRR, South Shields, NE33 3AN, £190,000

St. Michaels Avenue, South Shields, NE33 3AN - 4 views - 5 months ago

Under Offer
Leasehold
Refurb/BRRR
ROI: 8%
~93 m²
+9 photos

ValuationOvervalued

Sold Prices£70K - £452.5K
Sold Prices/m²£885/m² - £4.5K/m²

 

 

Square Metres

~93 m²
Price/m²£2K/m²

Value Estimate

£129,200

 

 

End Value (After Refurb)

£132,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£47,500

Stamp Duty & Legal Fees

£6,900

Refurb Costs

£35,501

Bridging Loan Interest

£4,988

Total Cash In

£96,638

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£132,000

Mortgage (After Refinance)

£99,000

Mortgage LTV

75%

Cash Left In

£96,638

Equity

£33,000

Rent Range

£515 - £3,500

Rent Estimate

£1,372

Running Costs/mo

£707

Cashflow/mo

£665

Cashflow/yr

£7,981

ROI

8%

Gross Yield

9%

Local Sold Prices

51 sold prices from £70K to £452.5K, average is £155K. £885/m² to £4.5K/m², average is £1.5K/m².

PriceDateDistanceAddressBeds 
£180K11/210.06 mi27, Horsley Hill Road, South Shields, Tyne And Wear NE33 3ET3
£228K06/240.06 mi27, Horsley Hill Road, South Shields, Tyne And Wear NE33 3ET3
£235K02/230.06 mi24, Rosebery Avenue, South Shields, Tyne And Wear NE33 3EU3
£165K01/230.1 mi196, Westoe Road, South Shields, Tyne And Wear NE33 3PW3
£160K09/210.12 mi31, Rosebery Avenue, South Shields, Tyne And Wear NE33 3EX3
£122K02/210.12 mi27, Ada Street, South Shields, Tyne And Wear NE33 3PX3
£210K04/230.14 mi154, Westoe Road, South Shields, Tyne And Wear NE33 3PH3
£126K04/210.14 mi197, East George Potts Street, South Shields, Tyne And Wear NE33 3PU3
£240K07/220.16 mi31, Osborne Avenue, South Shields, Tyne And Wear NE33 3DQ3
£133K03/210.16 mi2, Sunningdale, South Shields, Tyne And Wear NE33 3JA3
£120K07/210.17 mi8, The Potteries, South Shields, Tyne And Wear NE33 3DL3
£138.5K12/230.17 mi2, The Potteries, South Shields, Tyne And Wear NE33 3DL3
£250K07/230.17 mi5, Osborne Avenue, South Shields, Tyne And Wear NE33 3DQ3
£198K12/200.17 mi51, Osborne Avenue, South Shields, Tyne And Wear NE33 3DQ3
£177K09/230.19 mi5, Madeira Terrace, South Shields, Tyne And Wear NE33 3AQ3
£152K08/210.2 mi5, Wentworth, South Shields, Tyne And Wear NE33 3HZ3
£165K06/210.21 mi3, County Mews, South Shields, Tyne And Wear NE33 3LF3
£165K06/210.21 mi4, County Mews, South Shields, Tyne And Wear NE33 3LF3
£98.5K05/210.22 mi148, Coleridge Avenue, South Shields, Tyne And Wear NE33 3HB3
£140.3K05/210.22 mi31, Robert Street, South Shields, Tyne And Wear NE33 3AG3
£145K06/210.22 mi13, Birkdale, South Shields, Tyne And Wear NE33 3JF3
£200K03/230.22 mi11, Birkdale, South Shields, Tyne And Wear NE33 3JF3
£148.5K06/210.23 mi129, Westoe Road, South Shields, Tyne And Wear NE33 3PA3
£189K10/230.24 mi64, Spohr Terrace, South Shields, Tyne And Wear NE33 3LS3
£105K01/240.25 mi4, Ryton Court, South Shields, Tyne And Wear NE33 4HS3
£110K05/210.26 mi23, Darras Court, South Shields, Tyne And Wear NE33 4HT3
£142K08/230.26 mi24, Darras Court, South Shields, Tyne And Wear NE33 4HT3
£167.5K04/210.28 mi2, Muirfield, South Shields, Tyne And Wear NE33 3JE3
£164K05/210.29 mi70, Leighton Street, South Shields, Tyne And Wear NE33 3BT3
£140K02/230.29 mi62, Leighton Street, South Shields, Tyne And Wear NE33 3BT3
£120K08/240.3 mi22, Delaval Court, South Shields, Tyne And Wear NE33 4DN3
£452.5K05/220.31 mi50, Grosvenor Road, South Shields, Tyne And Wear NE33 3QG3
£123K02/240.31 mi10, West Stevenson Street, South Shields, Tyne And Wear NE33 4AG3
£70K09/230.31 mi82, Northcote Street, South Shields, Tyne And Wear NE33 4DJ3
£325K01/230.32 mi23, Tynedale Road, South Shields, Tyne And Wear NE34 6EX3
£80K07/240.33 mi26, Wharton Street, South Shields, Tyne And Wear NE33 3JS3
£210K05/210.34 mi32, Mowbray Villas, South Shields, Tyne And Wear NE33 3GA3
£207.5K09/210.34 mi33, Mowbray Villas, South Shields, Tyne And Wear NE33 3GA3
£185K12/220.34 mi6, Mowbray Villas, South Shields, Tyne And Wear NE33 3GA3
£116.5K05/210.34 mi58, Wharton Street, South Shields, Tyne And Wear NE33 3JX3
£154K08/240.34 mi58, Wharton Street, South Shields, Tyne And Wear NE33 3JX3
£95K09/210.34 mi157, Victoria Road, South Shields, Tyne And Wear NE33 4LR3
£87K06/220.37 mi52, Newmarket Walk, South Shields, Tyne And Wear NE33 4NP3
£115K02/240.37 mi54, Newmarket Walk, South Shields, Tyne And Wear NE33 4NP3
£115K02/240.37 mi54, Newmarket Walk, South Shields, Tyne And Wear NE33 4NP3
£200K11/200.38 mi7, Greta Gardens, South Shields, Tyne And Wear NE33 4TN3
£92K03/240.38 mi32, Chichester Road, South Shields, Tyne And Wear NE33 4AF3
£155K06/210.39 mi44, Oxford Avenue, South Shields, Tyne And Wear NE33 4TP3
£160K11/200.39 mi24, Banbury Terrace, South Shields, Tyne And Wear NE33 4TL3
£240K07/230.39 mi22, Banbury Terrace, South Shields, Tyne And Wear NE33 4TL3
£225K03/240.39 mi16, Banbury Terrace, South Shields, Tyne And Wear NE33 4TL3

Local Rents

35 rents from £515/mo to £3.5K/mo, average is £895/mo.

RentDateDistanceAddressBeds 
£70003/250.13 mi-3
£72505/240.14 mi-3
£2,50006/240.16 mi-3
£2,35006/240.16 mi-3
£1,80005/240.16 mi-3
£1,80004/240.16 mi-3
£3,50004/250.17 mi-3
£85012/240.18 miFitzpatrick Place, Tyne And Wear, NE333
£88012/240.18 mi-3
£77506/240.22 miRobert Street, South Shields3
£57505/240.23 mi-3
£1,80006/240.24 mi-3
£1,50001/250.24 mi-3
£1,50004/250.24 mi-3
£85012/240.32 mi-3
£1,40001/250.32 mi-3
£79505/240.34 mi-3
£51501/250.34 mi-3
£62503/250.37 mi-3
£89505/240.43 miErskine Road, South Shields, Tyne and Wear, NE333
£87512/240.45 mi-3
£1,80006/240.45 mi-3
£1,50012/240.45 mi-3
£72003/240.45 miGordon Street, South Shields, Tyne And Wear, NE333
£2,25005/240.46 mi-3
£2,25007/240.46 mi-3
£2,25001/250.46 mi-3
£2,20004/250.46 mi-3
£75001/250.46 mi-3
£2,00005/240.47 mi-3
£2,00007/240.47 mi-3
£75005/240.52 mi-3
£59504/250.53 mi-3
£60005/240.54 mi-3
£69512/240.61 miRavensworth Terrace, South Shields3

Local Area Statistics

Population in NE33

27,262

Population in South Shields

79,432

Town centre distance

0.49 miles away

Nearest school

0.20 miles away

Nearest train station

0.39 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+19%

Sales demand

Seller's market

Capital growth (5yrs)

+8%

Property History

Listed for £190,000

November 15, 2024

Description

  • Offering Spacious Living Throughout With Versatile Spaces +
  • Fantastic Potential Ready For Someone To Put Their Own Stamp On +
  • Great Location With Easy Access To South Shields Town & Coast +
  • Local Amenities Include Mowbray Park, Westeo For Shops & Bus Links +
  • Offered With No Onward Chain ! +
  • Reference : 457921 +

This Mid Terrace period home on St. Michaels Avenue is located in the highly sought after Westoe area. Offering excellent potential as a Family home, the property is in need of updating, providing an ideal opportunity for buyers to modernise to their own tastes. Just a short distance from the award winning Coastline and Marine Park, it enjoys a scenic location with ample leisure opportunities.

Conveniently close to the Town Centre, the home provides easy access to shops and great transport links, including a bus and metro interchange. The ground floor features an entrance hall, spacious lounge, and a separate dining room, while the rear of the property has a kitchen breakfast room which leads to a utility room. On the first floor, there are three well proportioned bedrooms, a bathroom with shower cubicle, and a separate WC.

Externally, the property includes a low maintenance front area and a private rear yard. Offered with vacant possession, this home presents an exciting chance to personalise and create a modern living space in a prime location.
ENTRANCE
Via solid wood door into Hallway.
HALLWAY
Stairs to first floor landing, understair storage cupboard, door into Lounge and door into Kitchen.
LOUNGE 5.59m (18'4) x 4.17m (13'8)
Bay window, radiator and cornice to ceiling.
DINING ROOM 5.21m (17'1) x 3.51m (11'6)
Bay window, radiator and cornice to ceiling.
KITCHEN BREAKFAST ROOM 4.39m (14'5) x 2.97m (9'9)
Solid wood fitted kitchen with space for cooker, fridge freezer, sink unit with mixer tap, radiator and door into Utility.
UTILITY ROOM 2.31m (7'7) x 2.95m (9'8)
Solid wood base unit, plumbing for washer, space for tumble dryer, space for fridge freezer, window, lino to floor and door to Yard.
FIRST FLOOR HALF LANDING
Door into Bathroom and W.C.
BATHROOM
Bath, pedestal hand wash basin, separate shower cubicle, window, radiator, lino to floor and part tiling to walls.
SEPARATE W.C.
Low flush W.C., window and tiling to splash areas.
FIRST FLOOR MAIN LANDING

BEDROOM ONE 4.75m (15'7) x 3.48m (11'5)
UPVC door to Balcony and radiator.
BEDROOM TWO 4.37m (14'4) x 3.35m (11')
Storage cupboard, window and radiator.
BEDROOM THREE 3.25m (10'8) x 1.85m (6'1)
Radiator.
EXTERNALLY
Private yard to rear for outdoor space.
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
The Ofcom website states the average broadband download speed of 15 Mbps and a maximum download speed of 1000 Mbps at this postcode: NE33 3AN and mobile coverage is provided by EE, Three, O2 and Vodafone. The checker results are predictions and should not be regarded as guaranteed.
Council Tax
The GOV.UK website states the property is Council Tax Band: C
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
Money Laundering Regulations
Please note that any offers will require you to be financially verified, meaning you'll need to provide us sight of a mortgage in principle, proof of deposit funds, and proof of cash. You'll also need to provide us with full chain details including agents and solicitors down the chain. To comply with Money Laundering Regulations all buyers will be required to provide us with proof of identification before we can issue acceptance letters and solicitors are instructed.
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.

EPC Rating:

Agent Details

Andrew Craig, South Shields

0191 625 0766

Next Steps?

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