2 Bed Flat, Single Let, Gateshead, NE8 3PN, £70,000

Moore Street, Gateshead, NE8 3PN - 4 months ago

Leasehold
BTL
ROI: 12%
~68 m²
+2 photos

ValuationUndervalued

Sold Prices£40.5K - £110K
Sold Prices/m²£643/m² - £2K/m²

 

 

Square Metres

~68.11 m²
Price/m²£1K/m²

Value Estimate

£86,100
BMV23%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£17,500

Stamp Duty & Legal Fees

£3,300

Total Cash In

£20,800

 

 

Cash Out

 

Rent Range

£525 - £1,800

Rent Estimate

£569

Running Costs/mo

£353

Cashflow/mo

£216

Cashflow/yr

£2,597

ROI

12%

Gross Yield

10%

Local Sold Prices

50 sold prices from £40.5K to £110K, average is £90K. £643/m² to £2K/m², average is £1.6K/m².

PriceDateDistanceAddressBeds 
£66K03/230.02 mi108, Howe Street, Gateshead, Tyne And Wear NE8 3PP2
£66.5K03/240.02 mi48, Howe Street, Gateshead, Tyne And Wear NE8 3PP2
£40.5K04/210.03 mi45, Howe Street, Gateshead, Tyne And Wear NE8 3PQ2
£64K08/210.05 mi50, King Edward Street, Gateshead, Tyne And Wear NE8 3PR2
£62K01/230.05 mi24, King Edward Street, Gateshead, Tyne And Wear NE8 3PR2
£62.5K02/230.06 mi3, Moore Street, Gateshead, Tyne And Wear NE8 3PN2
£52.5K02/210.09 mi22, Bayfield Gardens, Gateshead, Tyne And Wear NE8 3PT2
£101K06/230.22 mi50, Sanderson Villas, Gateshead, Tyne And Wear NE8 3DD2
£103K04/240.22 mi24, Sanderson Villas, Gateshead, Tyne And Wear NE8 3DD2
£88.5K03/210.24 mi109, Sanderson Villas, Gateshead, Tyne And Wear NE8 3BU2
£78K07/210.28 mi16, Radcliffe Close, Gateshead, Tyne And Wear NE8 3JZ2
£48K06/230.3 mi18, Blake Walk, Gateshead, Tyne And Wear NE8 3NW2
£65K03/230.3 mi66, Fife Street, Gateshead, Tyne And Wear NE8 3RR2
£95K02/210.3 mi203, Sanderson Villas, Gateshead, Tyne And Wear NE8 3BZ2
£105K02/230.3 mi197, Sanderson Villas, Gateshead, Tyne And Wear NE8 3BZ2
£92.5K10/200.31 mi30, Ovett Gardens, Gateshead, Tyne And Wear NE8 3JH2
£105K12/220.31 mi80, Foster Drive, Gateshead, Tyne And Wear NE8 3JG2
£100K01/230.32 mi17, Ovett Gardens, Gateshead, Tyne And Wear NE8 3JH2
£80K09/210.32 mi3, Betjeman Mews, Gateshead, Tyne And Wear NE8 3BF2
£96K10/200.32 mi8, Betjeman Mews, Gateshead, Tyne And Wear NE8 3BF2
£93K06/210.32 mi9, Betjeman Mews, Gateshead, Tyne And Wear NE8 3BF2
£86.5K09/210.33 mi7, Renforth Close, Gateshead, Tyne And Wear NE8 3JF2
£90K08/230.33 mi19, Renforth Close, Gateshead, Tyne And Wear NE8 3JF2
£100K02/230.33 mi55, Renforth Close, Gateshead, Tyne And Wear NE8 3JF2
£95K10/210.33 mi21, Renforth Close, Gateshead, Tyne And Wear NE8 3JF2
£76K12/200.34 mi16, Foster Drive, Gateshead, Tyne And Wear NE8 3JG2
£105K12/220.36 mi11, Foster Drive, Gateshead, Tyne And Wear NE8 3JA2
£93.5K06/230.36 mi89, Foster Drive, Gateshead, Tyne And Wear NE8 3JA2
£80K09/210.36 mi5, Foster Drive, Gateshead, Tyne And Wear NE8 3JA2
£88K03/230.36 mi10, Renforth Close, Gateshead, Tyne And Wear NE8 3JB2
£100K07/230.36 mi58, Renforth Close, Gateshead, Tyne And Wear NE8 3JB2
£98.5K11/210.37 mi132, Chaucer Close, Gateshead, Tyne And Wear NE8 3NQ2
£93K07/210.38 mi92, Redgrave Close, Gateshead, Tyne And Wear NE8 3JE2
£95K10/200.38 mi36, Redgrave Close, Gateshead, Tyne And Wear NE8 3JE2
£90K07/240.38 mi8, Redgrave Close, Gateshead, Tyne And Wear NE8 3JE2
£100K03/230.38 mi30, Redgrave Close, Gateshead, Tyne And Wear NE8 3JE2
£85K10/210.4 mi103, Redgrave Close, Gateshead, Tyne And Wear NE8 3JD2
£87K09/210.4 mi35, Redgrave Close, Gateshead, Tyne And Wear NE8 3JD2
£110K11/210.4 mi57, Redgrave Close, Gateshead, Tyne And Wear NE8 3JD2
£97.5K03/210.4 mi101, Redgrave Close, Gateshead, Tyne And Wear NE8 3JD2
£70K03/210.41 mi368, Old Durham Road, Gateshead, Tyne And Wear NE8 4BQ2
£70K09/230.41 mi368, Old Durham Road, Gateshead, Tyne And Wear NE8 4BQ2
£97K03/230.41 mi201, Redgrave Close, Gateshead, Tyne And Wear NE8 3JT2
£92K09/230.41 mi119, Redgrave Close, Gateshead, Tyne And Wear NE8 3JT2
£75K11/200.41 mi179, Redgrave Close, Gateshead, Tyne And Wear NE8 3JT2
£93K08/210.41 mi131, Redgrave Close, Gateshead, Tyne And Wear NE8 3JT2
£80K11/200.41 mi151, Redgrave Close, Gateshead, Tyne And Wear NE8 3JT2
£79K08/230.43 mi55, Shipcote Terrace, Gateshead, Tyne And Wear NE8 4AA2
£82.5K03/210.44 mi21, Chaucer Close, Gateshead, Tyne And Wear NE8 3NG2
£90K01/240.44 mi52, Chaucer Close, Gateshead, Tyne And Wear NE8 3NG2

Local Rents

50 rents from £525/mo to £1.8K/mo, average is £775/mo.

RentDateDistanceAddressBeds 
£1,10006/240 miMoore Street, Gateshead NE82
£64503/250.01 mi-2
£85002/250.02 mi-2
£77512/240.05 mi-2
£77509/240.05 mi-2
£52507/240.05 miKing Edward Street, Gateshead, NE82
£59506/240.06 miKing Edward Street, Gateshead2
£60005/240.06 mi-2
£59506/240.06 mi-2
£69506/240.09 miBayfield Gardens, Gateshead2
£85007/240.09 miBayfield Gardens, Gateshead, NE82
£85007/240.09 mi-2
£1,80006/240.13 mi-2
£65007/240.16 mi-2
£65007/240.16 miSunderland Road, Gateshead, NE82
£85006/240.19 miBishops Park Road, Gateshead2
£70007/240.22 miSanderson Villas, St James Village, Gateshead, NE82
£72506/240.23 miSanderson Villas, Gateshead, NE82
£85006/240.23 miSanderson Villas, Gateshead, NE82
£79507/240.23 miSanderson Villas, Gateshead, NE82
£68012/230.23 mi-2
£75012/240.23 mi-2
£77506/240.23 miSanderson Villas, Gateshead2
£73006/240.24 miSanderson Villas, Gateshead, NE8 3BU2
£77506/240.24 miSanderson Villas, St James Village, NE82
£77507/240.24 miSanderson Villas, St James Village, NE82
£75005/240.25 mi-2
£79511/240.26 mi-2
£87506/240.28 mi-2
£87503/250.28 mi-2
£70008/240.3 mi-2
£85012/230.31 mi-2
£80006/240.31 miOvett Gardens, St James Village, Gateshead, Tyne and Wear, NE8 3JH2
£77512/230.32 mi-2
£85001/250.32 mi-2
£80006/240.32 miFoster Drive, St James's Village , Gateshead, Tyne and Wear, NE8 3JG2
£1,00012/240.32 mi-2
£67510/240.33 mi-2
£70006/240.34 miFoster Drive, St. James Village2
£80007/240.34 miFoster Drive, Gatehead2
£89512/240.34 mi-2
£59505/240.34 miAsher Street, Gateshead, NE92
£75006/240.35 miMilton Square, Gateshead, Tyne and Wear, NE82
£85007/240.35 mi-2
£85007/240.35 miOvett Gardens, Gateshead, NE82
£79906/240.35 mi-2
£77506/240.36 miFoster Drive, St James Village, Gateshead2
£71005/240.36 miAcacia Road, Gateshead, Tyne And Wear, NE102
£79004/240.37 mi-2
£80012/240.37 mi-2

Local Area Statistics

Population in NE8

32,358

Population in Gateshead

122,353

Town centre distance

0.98 miles away

Nearest school

0.30 miles away

Nearest train station

0.21 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+64%

Sales demand

Balanced market

Capital growth (5yrs)

+15%

Property History

Listed for £70,000

November 20, 2024

Sold for £57,000

2007

Sold for £13,000

2002

Sold for £14,500

1999

Floor Plans

Description

  • Enclosed Rear Yard +
  • Great Location +
  • Investment Potential +
  • On-Street Parking +
  • Close to Newcastle City Centre +

Welcome to Moore Street. This property is a two-bedroom, one-bathroom ground floor flat on Moore Street. Keep reading to find out what makes this property unique!

Prime Location Close to Newcastle City Centre:

This property enjoys a prime location with easy access to essential amenities as well as being only an 8-minute drive to Newcastle City Centre. It is also only a 5-minute walk to the nearest metro station, Gateshead Stadium, making daily life convenient and hassle-free.

Investment Potential:

With its location and features, this property presents an appealing investment prospect, bringing a potential 10% yield. With a bit of TLC, you could turn this property into a long-term home for a tenant while bringing in a good rental yield.

Enclosed Rear Yard:

Enjoy the privacy and convenience of your own private backyard space. With some TLC this large space could become the perfect suntrap or pot garden to enjoy the outdoors.

Downstairs you are greeted by a bright living room with a feature fireplace. There is also built in storage to the side of the room for extra storage space. There is also a small, galley kitchen with integrated appliances including an oven and a hob.

There are two bedrooms in the property, one spacious double bedroom, and one single bedroom. You also have one family bathroom, complete with a bath.

Externally you have on street parking to the front of the property as well as a small, enclosed yard to the rear of the house.

This house is located near many local amenities such as a hospital, schools, shops, takeaways, and other everyday necessities.

Early viewing is highly recommended.

Council Tax Band: A (Gateshead Council)
Tenure: Leasehold
Ground Rent: £0 per year
Tyneside Lease

Agent Details

NGU HOMES, Gateshead

0191 625 0172

Next Steps?

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