2 Bed Terraced House, Refurb/BRRR, Gateshead, NE9 7JD, £79,950

Wrekenton Row, Wrekenton, NE9 7JD - 9 views - 4 months ago

Leasehold
Refurb/BRRR
ROI: 4%
~68 m²
+4 photos

ValuationUndervalued

Sold Prices£65K - £250K
Sold Prices/m²£997/m² - £3.1K/m²

 

 

Square Metres

~68.11 m²
Price/m²£1.2K/m²

Value Estimate

£91,800
BMV2%

 

 

End Value (After Refurb)

£120,575

Uplift in Value

+34%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£19,988

Stamp Duty & Legal Fees

£3,900

Refurb Costs

£26,073

Bridging Loan Interest

£2,099

Total Cash In

£53,809

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£120,575

Mortgage (After Refinance)

£90,431

Mortgage LTV

75%

Cash Released

£30,469

Cash Left In

£23,340

Equity

£30,144

Rent Range

£480 - £1,550

Rent Estimate

£749

Running Costs/mo

£547

Cashflow/mo

£202

Cashflow/yr

£2,429

ROI

5%

Gross Yield

11%

Local Sold Prices

51 sold prices from £65K to £250K, average is £141.5K. £997/m² to £3.1K/m², average is £2K/m².

PriceDateDistanceAddressBeds 
£145K10/230 mi34, Wrekenton Row, Gateshead, Tyne And Wear NE9 7JD2
£107.5K09/210.06 miAshleigh, Wrekenton Row, Gateshead, Tyne And Wear NE9 7JE2
£120.5K06/210.08 mi12, Stainton Gardens, Gateshead, Tyne And Wear NE9 7EH2
£117.5K12/200.09 mi23, Stanley Gardens, Gateshead, Tyne And Wear NE9 7EN2
£148K12/220.09 mi23, Stanley Gardens, Gateshead, Tyne And Wear NE9 7EN2
£141.5K04/240.09 mi2, Stanley Gardens, Gateshead, Tyne And Wear NE9 7EN2
£167.8K01/230.13 mi11, Hilldyke, Gateshead, Tyne And Wear NE9 7HQ2
£190K10/230.14 mi15, Hilldyke, Gateshead, Tyne And Wear NE9 7HQ2
£115K02/240.26 mi12, Easington Avenue, Gateshead, Tyne And Wear NE9 7LH2
£85K11/220.29 mi1, Victoria Terrace, Wrekenton, Gateshead, Tyne And Wear NE9 7JT2
£100K11/220.3 mi13, Marlborough Crescent, Gateshead, Tyne And Wear NE9 7JY2
£120K11/200.3 mi11, Cypress Road, Gateshead, Tyne And Wear NE9 7XE2
£125K04/230.3 mi8, Cypress Road, Gateshead, Tyne And Wear NE9 7XE2
£65K01/240.32 mi5, Rugby Gardens, Gateshead, Tyne And Wear NE9 7JU2
£155K01/230.33 mi4, Brown Crescent, Gateshead, Tyne And Wear NE9 7EX2
£120K04/230.38 mi76, Rugby Gardens, Gateshead, Tyne And Wear NE9 7JX2
£95K05/210.38 mi56, Binsby Gardens, Gateshead, Tyne And Wear NE9 7HR2
£95K06/210.4 mi16, Heatherdale Terrace, Gateshead, Tyne And Wear NE9 7US2
£123K08/230.4 mi8, Heatherdale Terrace, Gateshead, Tyne And Wear NE9 7US2
£162.6K03/230.4 miThe Garrett, Rockcliffe Way, Eighton Banks, Gateshead, Tyne And Wear NE9 7XT2
£120K03/230.42 mi15, Harewood Green, Gateshead, Tyne And Wear NE9 7BZ2
£75K12/200.47 mi3, Cleadon Gardens, Gateshead, Tyne And Wear NE9 7BA2
£149.9K02/210.48 mi12, Walmer Terrace, Gateshead, Tyne And Wear NE9 7XU2
£205.8K08/240.48 mi10, Walmer Terrace, Gateshead, Tyne And Wear NE9 7XU2
£116K05/230.48 mi17, Brandon Gardens, Gateshead, Tyne And Wear NE9 7BD2
£105K12/200.49 mi91, Easedale Gardens, Gateshead, Tyne And Wear NE9 6PZ2
£88K08/210.49 mi14, Topcliffe Green, Gateshead, Tyne And Wear NE9 7HU2
£154.1K12/200.52 mi10, Sandy Lane, Gateshead, Tyne And Wear NE9 7YB2
£162K08/210.52 mi55, Sandy Lane, Gateshead, Tyne And Wear NE9 7YB2
£180K12/220.52 mi12, Sandy Lane, Gateshead, Tyne And Wear NE9 7YB2
£160K05/230.52 mi58, Sandy Lane, Gateshead, Tyne And Wear NE9 7YB2
£149.9K03/240.52 mi44, Sandy Lane, Gateshead, Tyne And Wear NE9 7YB2
£190K08/240.52 mi18, Sandy Lane, Gateshead, Tyne And Wear NE9 7YB2
£147.9K03/210.54 mi11, Hawthorn Terrace, Eighton Banks, Gateshead, Tyne And Wear NE9 7XY2
£129.7K04/210.57 mi106, Easedale Gardens, Gateshead, Tyne And Wear NE9 6PX2
£105K07/240.58 mi23, Carnforth Gardens, Gateshead, Tyne And Wear NE9 6YH2
£185K07/210.59 mi7, Rotherfield Gardens, Gateshead, Tyne And Wear NE9 7TL2
£250K07/240.59 mi5, Rotherfield Gardens, Gateshead, Tyne And Wear NE9 7TL2
£120K03/230.59 mi15, Troutbeck Gardens, Gateshead, Tyne And Wear NE9 6PU2
£136K05/230.59 mi35, Troutbeck Gardens, Gateshead, Tyne And Wear NE9 6PU2
£180K05/210.59 mi1, St Ronans View, Gateshead, Tyne And Wear NE9 7TF2
£160K03/220.59 mi13, St Ronans View, Gateshead, Tyne And Wear NE9 7TF2
£145.5K10/210.59 mi4, Prospect Terrace, Eighton Banks, Gateshead, Tyne And Wear NE9 7YE2
£123.5K11/230.59 mi11, Prospect Terrace, Eighton Banks, Gateshead, Tyne And Wear NE9 7YE2
£211K02/240.59 mi14, Prospect Terrace, Eighton Banks, Gateshead, Tyne And Wear NE9 7YE2
£179.9K01/210.6 mi8, Birchfield Gardens, Gateshead, Tyne And Wear NE9 7TJ2
£200K01/210.6 mi15, Birchfield Gardens, Gateshead, Tyne And Wear NE9 7TJ2
£198.5K10/200.63 mi63, Beechwood Avenue, Gateshead, Tyne And Wear NE9 6PP2
£121.8K01/240.64 mi63, Brampton Gardens, Gateshead, Tyne And Wear NE9 6PT2
£121.8K01/240.64 mi63, Brampton Gardens, Gateshead, Tyne And Wear NE9 6PT2
£210K01/240.66 mi29, Rokeby View, Gateshead, Tyne And Wear NE9 7UD2

Local Rents

52 rents from £480/mo to £1.6K/mo, average is £750/mo.

RentDateDistanceAddressBeds 
£90006/240.15 miHilldyke, Eighton Banks, Gateshead, NE92
£80007/240.19 miGalloping Green Road, Gateshead2
£65006/240.24 miChopwell Gardens, Wrekenton, Gateshead, NE92
£79506/240.27 miCypress Road, Eighton Banks, NE92
£62512/230.3 mi-2
£69502/240.31 mi-2
£68508/230.43 mi-2
£65012/240.47 mi-2
£75006/240.57 miCrosby Gardens, Lyndhurst, Gateshead, NE92
£75006/240.57 miCrosby Gardens, Lyndhurst, Gateshead, NE92
£60006/240.63 miGrisedale Gardens, Low Fell, Gateshead, NE92
£90006/240.65 miBeechwood Avenue, Low Fell2
£57503/250.66 mi-2
£57503/250.66 mi-2
£77506/240.69 miPenrith Gardens, Low Fell2
£79501/240.74 mi-2
£65007/240.76 mi-2
£59507/240.8 miBodmin Court, Gateshead, Tyne and Wear, NE92
£75006/240.84 miDovedale Gardens, Gateshead, NE9 6NT2
£75006/240.84 miDovedale Gardens, Gateshead, NE9 6NT2
£77506/240.88 miAlbion Terrace, Gateshead2
£85006/240.89 miLoweswater Road, Low Fell, Gateshead2
£75006/240.89 miHertford, Low Fell2
£85006/240.92 miLanthwaite Road, Gateshead2
£79507/240.93 miPopplewell Gardens, Low Fell2
£75006/240.94 miSouthend Road, Sheriff Hill, Gateshead, NE92
£60005/240.94 miColtsfoot Gardens, Windy Nook, Gateshead, Tyne And Wear, NE102
£67506/240.94 miSouthend Road, Gateshead2
£75006/240.95 miSouthend Road, Low Fell, Gateshead, Tyne And Wear, NE92
£65003/240.97 miStaneway, Leam Lane2
£65008/240.99 mi-2
£67506/241.01 miKings Terrace, Springwell Village2
£74503/251.01 mi-2
£65005/241.02 miStaneway, Gateshead2
£85007/241.03 miWingrove Terrace, Springwell, Gateshead2
£85006/241.07 miDurham Road, Low Fell, NE92
£77502/241.08 mi-2
£75003/241.09 mi-2
£75003/241.09 mi-2
£72512/231.09 mi-2
£75006/241.1 miDurham Road, Low Fell, Gateshead, NE92
£48007/231.11 mi-2
£77506/241.11 miSt. Thomas Street, Gateshead2
£69504/241.11 mi-2
£75007/241.15 miEarls Drive, Gateshead2
£95006/241.16 miDean Street, Low Fell, Gateshead, NE92
£1,55003/231.17 mi-2
£65004/231.17 mi-2
£79507/241.17 miEarls Drive, Low Fell, NE92
£69507/241.17 miStone Street, Gateshead, Tyne And Wear, NE102
£70007/241.19 mi-2
£70006/241.19 miLow Fell, Gateshead, NE92

Local Area Statistics

Population in NE9

37,590

Population in Gateshead

122,353

Town centre distance

1.26 miles away

Nearest school

0.30 miles away

Nearest train station

2.09 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

-41%

Sales demand

Seller's market

Capital growth (5yrs)

+7%

Property History

Price changed to £79,950

January 23, 2025

Listed for £90,000

November 21, 2024

Description

  • Stone Built Semi Detached House +
  • Great Opportunity for the Personal Touch +
  • Situated in a Desirable Location +
  • Close to Shops, Amenities & Transport Links +
  • Two Bedrooms - One with En-Suite +
  • Garden to the Rear +
  • Reference: 458280 +

A two bedroom stone built semi detached property offers a fantastic opportunity for those looking to put their personal touch on a home. Upon entering, the entrance lobby leads you into the kitchen area, which leads to the rear of the property where you'll find the lounge and a bathroom. Upstairs, the first floor offers two bedrooms, with one benefitting from an ensuite WC for added convenience. Externally, the property benefits from a rear garden.

Situated in a desirable location with excellent access to local shops, schools, and great transport links, this home combines practical living with accessibility. Though in need of modernisation, this property presents a wonderful canvas for a buyer to create their ideal home. Early viewing is highly recommended to fully appreciate its potential.
ENTRANCE LOBBY

KITCHEN 3.78m (12'5) x 2.86m (9'5)
With wall and floor units with worktops and inset sink. Window to front.
LOUNGE 4.05m (13'3) x 3.02m (9'11)
With staircase leading to first floor. Window to rear and exterior door.
BATHROOM 3.34m (10'11) x 1.79m (5'10)
With panel bath, wash hand basin and low level wc. Built in cupboard housing central heating boiler. Window to rear.
FIRST FLOOR LANDING

BEDROOM 4.05m (13'3) x 3.66m (12'0)
A double room with window to rear.
EN SUITE WC
With wash hand basin and wc.
BEDROOM 3.1m (10'2) x 1.82m (6')
A single bedroom with window to side and rear.
EXTERNALLY
Garden to the rear.
PARKING
Off road parking available.
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 3 Mbps and a maximum download speed of 1000 Mbps at this postcode: NE9 7JD and mobile coverage is provided by EE, Three, O2, 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: A
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: D

Agent Details

Andrew Craig, Low Fell

0191 625 0115

Next Steps?

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