2 Bed Flat, Single Let, Wallsend, NE28 6PN, £70,000

Willow Grove, Wallsend, NE28 6PN - 3 views - 5 months ago

BTL

ROI: 12%

~68 m²

+5 photos

ValuationUndervalued

Sold Prices	£50K - £131.3K
Sold Prices/m²	£758/m² - £1.8K/m²

Square Metres	~68.11 m²
Price/m²	£1K/m²
Value Estimate	£84,273£84,273
BMV	20%

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£17,500£17,500
Stamp Duty & Legal Fees	£3,300£3,300
Total Cash In	£20,800£20,800

Cash Out
Rent Range	£525 - £825£525 - £825
Rent Estimate	£550
Running Costs/mo	£349£349
Cashflow/mo	£201£201
Cashflow/yr	£2,415£2,415
ROI	12%12%
Gross Yield	9%9%

Local Sold Prices

50 sold prices from £50K to £131.3K, average is £77.8K. £758/m² to £1.8K/m², average is £1.2K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£55K	10/20	0.06 mi	264, High Street East, Wallsend, Tyne And Wear NE28 7RX	£1,077	51	2	Flat
£50K	12/22	0.06 mi	244, High Street East, Wallsend, Tyne And Wear NE28 7RX	£758	66	2	Flat
£53.3K	09/23	0.06 mi	137, Holly Avenue, Wallsend, Tyne And Wear NE28 6PE	-	-	2	Flat
£72K	10/23	0.06 mi	131, Holly Avenue, Wallsend, Tyne And Wear NE28 6PE	£1,060	68	2	Flat
£71K	03/21	0.08 mi	314, High Street East, Wallsend, Tyne And Wear NE28 7JZ	£1,203	59	2	Flat
£85K	08/21	0.12 mi	122, Dene Crescent, Wallsend, Tyne And Wear NE28 7SW	£1,417	60	2	Flat
£77.5K	01/23	0.12 mi	94, Dene Crescent, Wallsend, Tyne And Wear NE28 7SW	£1,462	53	2	Flat
£89K	05/24	0.12 mi	53, Dene Crescent, Wallsend, Tyne And Wear NE28 7SN	-	-	2	Flat
£89K	02/23	0.12 mi	17, Dene Crescent, Wallsend, Tyne And Wear NE28 7SN	£1,391	64	2	Flat
£89K	02/23	0.12 mi	19, Dene Crescent, Wallsend, Tyne And Wear NE28 7SN	£1,391	64	2	Flat
£55K	11/21	0.13 mi	41, Westmoreland Street, Wallsend, Tyne And Wear NE28 7RY	£948	58	2	Flat
£60K	01/21	0.13 mi	11, Westmoreland Street, Wallsend, Tyne And Wear NE28 7RY	-	-	2	Flat
£80K	01/23	0.13 mi	88, Dene Crescent, Wallsend, Tyne And Wear NE28 7SW	-	-	2	Flat
£59.5K	06/23	0.15 mi	12, Limekiln Court, Wallsend, Tyne And Wear NE28 6QH	£1,144	52	2	Flat
£80K	07/23	0.16 mi	10, Durham Street, Wallsend, Tyne And Wear NE28 7RZ	£1,230	65	2	Flat
£78K	12/22	0.2 mi	9, Cumberland Street, Wallsend, Tyne And Wear NE28 7SB	£1,271	61	2	Flat
£69K	12/23	0.22 mi	159, Vine Street, Wallsend, Tyne And Wear NE28 6JB	£1,438	48	2	Flat
£75K	11/22	0.22 mi	76, Laurel Street, Wallsend, Tyne And Wear NE28 6PQ	£1,056	71	2	Flat
£87.2K	02/23	0.24 mi	78, Northumberland Street, Wallsend, Tyne And Wear NE28 7PX	-	-	2	Flat
£80K	07/23	0.24 mi	44, Grey Street, Wallsend, Tyne And Wear NE28 7SE	-	-	2	Flat
£90K	01/23	0.25 mi	38, Percy Street, Wallsend, Tyne And Wear NE28 7SF	£1,410	64	2	Flat
£50K	01/21	0.25 mi	1, Percy Street, Wallsend, Tyne And Wear NE28 7SF	£847	59	2	Flat
£60.8K	02/23	0.29 mi	43, Park Road, Wallsend, Tyne And Wear NE28 6QZ	-	-	2	Flat
£72K	03/21	0.31 mi	33, Coronation Street, Wallsend, Tyne And Wear NE28 7LU	£1,157	62	2	Flat
£71K	07/23	0.37 mi	106, Park Road, Wallsend, Tyne And Wear NE28 7QR	-	-	2	Flat
£58K	01/21	0.41 mi	37, South Terrace, Wallsend, Tyne And Wear NE28 6QE	£1,000	58	2	Flat
£87.5K	10/22	0.43 mi	45, Woodbine Avenue, Wallsend, Tyne And Wear NE28 8HB	£1,389	63	2	Flat
£73K	10/23	0.43 mi	34, Valley Gardens, Wallsend, Tyne And Wear NE28 7HB	£1,237	59	2	Flat
£80K	10/20	0.43 mi	30, Valley Gardens, Wallsend, Tyne And Wear NE28 7HB	£1,333	60	2	Flat
£80K	10/20	0.45 mi	35, Deneholm, Wallsend, Tyne And Wear NE28 7HE	£1,538	52	2	Flat
£80K	09/23	0.45 mi	73, Deneholm, Wallsend, Tyne And Wear NE28 7HE	£1,333	60	2	Flat
£80K	05/23	0.47 mi	60, Deneholm, Wallsend, Tyne And Wear NE28 7HD	£1,333	60	2	Flat
£66K	05/21	0.47 mi	90, Deneholm, Wallsend, Tyne And Wear NE28 7HD	£1,119	59	2	Flat
£86K	03/24	0.47 mi	56, Deneholm, Wallsend, Tyne And Wear NE28 7HD	-	-	2	Flat
£131.3K	09/23	0.5 mi	204, Station Road, Wallsend, Tyne And Wear NE28 8RD	£1,823	72	2	Flat
£85K	02/21	0.5 mi	248, Station Road, Wallsend, Tyne And Wear NE28 8RD	£1,164	73	2	Flat
£95.5K	12/22	0.52 mi	147, North Road, Wallsend, Tyne And Wear NE28 8RH	£1,448	66	2	Flat
£95K	03/23	0.52 mi	123, North Road, Wallsend, Tyne And Wear NE28 8RH	-	-	2	Flat
£93K	11/23	0.52 mi	121, North Road, Wallsend, Tyne And Wear NE28 8RH	£1,500	62	2	Flat
£62K	02/21	0.53 mi	61, Richardson Street, Wallsend, Tyne And Wear NE28 7PS	£1,020	61	2	Flat
£69.5K	07/21	0.55 mi	30, David Street, Wallsend, Tyne And Wear NE28 8RA	£1,137	61	2	Flat
£85K	09/23	0.56 mi	28, Praetorian Drive, Wallsend, Tyne And Wear NE28 6RQ	£1,604	53	2	Flat
£105K	08/23	0.58 mi	86, North Road, Wallsend, Tyne And Wear NE28 8RJ	£1,500	70	2	Flat
£73K	08/21	0.58 mi	94, North Road, Wallsend, Tyne And Wear NE28 8RJ	-	-	2	Flat
£57.5K	02/21	0.58 mi	17, Lisle Street, Wallsend, Tyne And Wear NE28 8QY	£1,106	52	2	Flat
£78K	12/22	0.58 mi	38, John Street, Wallsend, Tyne And Wear NE28 8QX	£1,500	52	2	Flat
£90K	03/24	0.58 mi	28, Tiberius Close, Wallsend, Tyne And Wear NE28 6RH	-	-	2	Flat
£59K	01/21	0.6 mi	7, Clifton Avenue, Wallsend, Tyne And Wear NE28 8RN	£1,091	54	2	Flat
£66K	03/24	0.62 mi	40, Albert Avenue, Wallsend, Tyne And Wear NE28 8RZ	-	-	2	Flat
£75K	07/21	0.65 mi	8, Victoria Avenue, Wallsend, Tyne And Wear NE28 8SD	£1,092	69	2	Flat

Local Rents

24 rents from £525/mo to £825/mo, average is £638/mo.

Rent	Date	Distance	Address	Beds	Type
£650	11/23	0.03 mi	-	2	House
£695	11/24	0.03 mi	-	2	Flat
£575	07/24	0.08 mi	High Street East, Wallsend, Tyne and Wear, NE28 7RX	2	Flat
£675	04/24	0.1 mi	-	2	Flat
£650	05/24	0.11 mi	Dene Crescent, Wallsend. NE28 7SN. Garden & Drive	2	Flat
£595	07/24	0.12 mi	Dene Crescent, Wallsend, Tyne and Wear, NE28	2	Flat
£650	06/24	0.12 mi	Wallsend, Tyne and Wear, NE28	2	Flat
£525	05/24	0.13 mi	Holly Avenue, Wallsend	2	Flat
£550	07/24	0.16 mi	Dene Crescent, Wallsend	2	Flat
£550	07/24	0.16 mi	Dene Crescent, Wallsend	2	Flat
£550	09/23	0.22 mi	-	2	Flat
£575	06/24	0.25 mi	Percy Street, Wallsend	2	Flat
£720	07/24	0.28 mi	-	2	Flat
£650	06/24	0.31 mi	Coronation Street, Wallsend, North Tyneside, NE28	2	Flat
£600	10/23	0.36 mi	-	2	House
£550	06/24	0.41 mi	South Terrace, Wallsend, NE28	2	Flat
£620	01/25	0.45 mi	-	2	Flat
£625	05/24	0.46 mi	Hugh Street, Wallsend, NE28	2	Flat
£725	12/24	0.47 mi	-	2	Flat
£800	05/24	0.49 mi	-	2	Flat
£750	04/24	0.49 mi	-	2	Flat
£595	05/24	0.54 mi	-	2	Flat
£825	11/24	0.56 mi	-	2	Flat
£825	02/25	0.56 mi	-	2	Flat

Local Area Statistics

Population in NE28	44,51944,519
Population in Wallsend	44,52044,520
Town centre distance	0.69 miles away0.69 miles away
Nearest school	0.10 miles away0.10 miles away
Nearest train station	0.44 miles away0.44 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+43%+43%
Sales demand	Seller's marketSeller's market
Capital growth (5yrs)	+26%+26%

Property History

Listed for £70,000

November 18, 2024

Sold for £46,000

2012

Sold for £64,000

2005

Description

2 bed Ground Floor Flat Near Wallsend Metro and its local amenities.

The property consists of 2 good sized bedrooms, spacious lounge with fitted kitchen and bathroom to rear of the property

Shared back yard

FREEHOLD

Agent Details

Daniel Craig Residential, Gateshead

0191 265 6555

Next Steps?

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

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