2 Bed Flat, Single Let, Gateshead, NE8 4RX, £85,000

76 Fern Dene Road, Gateshead, Tyne And Wear, NE8 4RX - 3 months ago

Sold STC
Leasehold
BTL
ROI: 11%
66 m²
+3 photos

ValuationOvervalued

Sold Prices£53K - £120K
Sold Prices/m²£795/m² - £1.8K/m²

 

 

Square Metres

66.23 m²
Price/m²£1.3K/m²

Value Estimate

£77,094

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£21,250

Stamp Duty & Legal Fees

£3,750

Total Cash In

£25,000

 

 

Cash Out

 

Rent Range

£590 - £1,850

Rent Estimate

£650

Running Costs/mo

£416

Cashflow/mo

£234

Cashflow/yr

£2,813

ROI

11%

Gross Yield

9%

Local Sold Prices

50 sold prices from £53K to £120K, average is £79.5K. £795/m² to £1.8K/m², average is £1.2K/m².

PriceDateDistanceAddressBeds 
£106K06/230.01 mi20, Fern Dene Road, Gateshead, Tyne And Wear NE8 4RX2
£94K05/210.01 mi77, Fern Dene Road, Gateshead, Tyne And Wear NE8 4RT2
£79K04/210.05 mi229, Rectory Road, Gateshead, Tyne And Wear NE8 4RS2
£103K10/200.05 mi291, Rectory Road, Gateshead, Tyne And Wear NE8 4RS2
£97K06/230.09 mi106, Windsor Avenue, Gateshead, Tyne And Wear NE8 4NX2
£80K04/230.09 mi93, Fern Dene Road, Gateshead, Tyne And Wear NE8 4RU2
£62K12/200.1 mi221, Rawling Road, Gateshead, Tyne And Wear NE8 4QU2
£90K07/210.12 mi169, Westbourne Avenue, Gateshead, Tyne And Wear NE8 4NR2
£74.5K04/210.14 mi275, Westbourne Avenue, Gateshead, Tyne And Wear NE8 4NS2
£114.8K08/230.14 mi28, Saltwell View, Gateshead, Tyne And Wear NE8 4NT2
£90K10/210.15 mi76, Faraday Grove, Gateshead, Tyne And Wear NE8 4UL2
£69K04/230.15 mi35, Faraday Grove, Gateshead, Tyne And Wear NE8 4UL2
£55K10/230.15 mi23, Faraday Grove, Gateshead, Tyne And Wear NE8 4UL2
£77K11/200.15 mi78, Faraday Grove, Gateshead, Tyne And Wear NE8 4UL2
£65K12/200.15 mi82, Windsor Avenue, Gateshead, Tyne And Wear NE8 4NG2
£83.3K07/230.16 mi17, Windsor Avenue, Gateshead, Tyne And Wear NE8 4NU2
£96K11/210.16 mi223, Eastbourne Avenue, Gateshead, Tyne And Wear NE8 4NL2
£101K09/230.16 mi183, Eastbourne Avenue, Gateshead, Tyne And Wear NE8 4NL2
£85K11/210.16 mi163, Eastbourne Avenue, Gateshead, Tyne And Wear NE8 4NL2
£91.5K04/240.16 mi123, Eastbourne Avenue, Gateshead, Tyne And Wear NE8 4NJ2
£71.8K11/210.17 mi207, Whitehall Road, Gateshead, Tyne And Wear NE8 4PS2
£62.5K05/210.17 mi52, Westbourne Avenue, Gateshead, Tyne And Wear NE8 4NP2
£55.5K02/210.17 mi30, Westbourne Avenue, Gateshead, Tyne And Wear NE8 4NP2
£104K01/230.17 mi231, Eastbourne Avenue, Gateshead, Tyne And Wear NE8 4NN2
£88K07/230.18 mi35, Westbourne Avenue, Gateshead, Tyne And Wear NE8 4NF2
£58.5K03/240.18 mi157, Rawling Road, Gateshead, Tyne And Wear NE8 4QT2
£73K04/210.18 mi120, Rawling Road, Gateshead, Tyne And Wear NE8 4QT2
£70K03/230.18 mi169, Rawling Road, Gateshead, Tyne And Wear NE8 4QT2
£70K09/210.18 mi238, Whitehall Road, Gateshead, Tyne And Wear NE8 4PU2
£75K08/210.18 mi244, Whitehall Road, Gateshead, Tyne And Wear NE8 4PU2
£120K06/230.18 mi249, Eastbourne Avenue, Gateshead, Tyne And Wear NE8 4NN2
£87K12/220.18 mi89, Westbourne Avenue, Gateshead, Tyne And Wear NE8 4NF2
£60K03/210.2 mi239, Whitehall Road, Gateshead, Tyne And Wear NE8 4PT2
£58.8K03/210.21 mi31, Hyde Park Street, Gateshead, Tyne And Wear NE8 4QB2
£58.8K03/210.21 mi29, Hyde Park Street, Gateshead, Tyne And Wear NE8 4QB2
£95K09/210.22 mi159, Brinkburn Avenue, Gateshead, Tyne And Wear NE8 4JX2
£84K02/210.22 mi190, Brinkburn Avenue, Gateshead, Tyne And Wear NE8 4JX2
£68K02/210.22 mi143, Brinkburn Avenue, Gateshead, Tyne And Wear NE8 4JX2
£96K10/230.22 mi146, Brinkburn Avenue, Gateshead, Tyne And Wear NE8 4JX2
£100K06/230.22 mi159, Brinkburn Avenue, Gateshead, Tyne And Wear NE8 4JX2
£78K07/230.22 mi162, Brinkburn Avenue, Gateshead, Tyne And Wear NE8 4JX2
£115K12/230.22 mi186, Brinkburn Avenue, Gateshead, Tyne And Wear NE8 4JX2
£95K08/230.22 mi26, Curzon Street, Gateshead, Tyne And Wear NE8 1YD2
£53K11/200.23 mi85, Rodsley Avenue, Gateshead, Tyne And Wear NE8 4LA2
£84.5K02/230.24 mi17, Rodsley Avenue, Gateshead, Tyne And Wear NE8 4JY2
£61K10/200.24 mi83, Rodsley Avenue, Gateshead, Tyne And Wear NE8 4JY2
£64K01/230.24 mi15, Saltwell Street, Gateshead, Tyne And Wear NE8 4QX2
£71K09/230.25 mi97, Rectory Road, Gateshead, Tyne And Wear NE8 1XJ2
£82K07/210.25 mi25, Macadam Street, Gateshead, Tyne And Wear NE8 4TS2
£62K03/240.25 mi45, Saltwell Street, Gateshead, Tyne And Wear NE8 4QX2

Local Rents

53 rents from £590/mo to £1.9K/mo, average is £725/mo.

RentDateDistanceAddressBeds 
£69507/240.01 miFern Dene Road, Gateshead, NE82
£67504/240.01 mi-2
£95006/240.02 miFern Dene Road, Gateshead, NE82
£75006/240.03 miBrighton Road, Gateshead, NE82
£75006/240.03 mi-2
£69512/240.03 mi-2
£59007/230.04 mi-2
£65007/240.04 miBrighton Road, Gateshead2
£82002/240.05 mi-2
£69503/250.07 mi-2
£64010/240.09 mi-2
£65012/240.1 mi-2
£70001/250.1 mi-2
£67506/240.1 miWindsor Avenue, Gateshead2
£70006/240.11 mi-2
£65006/240.11 miRectory Road, Bensham, Gateshead, Tyne and Wear, NE8 4RQ2
£75001/250.12 mi-2
£62510/230.12 mi-2
£85007/240.14 mi183 Rectory Road, Gateshead, Tyne And Wear, NE82
£70006/240.14 miWestbourne Avenue, Gateshead2
£80009/240.14 mi-2
£80008/240.14 mi-2
£80006/240.14 miWestbourne Avenue, Gateshead, NE82
£72506/240.14 miSaltwell View, Gateshead, Tyne And Wear, NE82
£59503/240.16 mi-2
£75004/240.16 mi-2
£59506/240.16 miRayleigh Grove, Gateshead, NE82
£75006/240.16 miEastbourne Avenue, Gateshead, NE82
£65006/240.17 mi-2
£60011/240.17 mi-2
£75002/250.18 mi-2
£89506/240.18 miField House Road, Saltwell, Gateshead, NE82
£69507/240.18 miWindsor Avenue, Gateshead2
£75007/240.18 miWestminster Street, Gateshead2
£65006/240.19 miWestbourne Avenue, Gateshead2
£1,85006/240.19 mi-2
£1,85006/240.19 mi-2
£1,85006/240.19 mi-2
£1,85012/240.19 mi-2
£1,85012/240.19 mi-2
£1,85012/240.19 mi-2
£1,85012/240.19 mi-2
£1,75003/250.19 mi-2
£89509/240.19 mi-2
£65002/240.19 mi-2
£75012/240.2 mi-2
£69507/240.2 miEastbourne Avenue, Gateshead2
£72507/240.2 miWhitehall Road, Bensham, Gateshead, Tyne And Wear, NE82
£85005/230.2 mi-2
£65007/240.2 miBrinkburn Avenue, Gateshead2
£70002/240.21 mi-2
£75009/230.21 mi-2
£72507/240.22 miBrinkburn Avenue, Bensham, Gateshead, Tyne And Wear, NE82

Local Area Statistics

Population in NE8

32,358

Population in Gateshead

122,353

Town centre distance

1.07 miles away

Nearest school

0.10 miles away

Nearest train station

1.02 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+64%

Sales demand

Balanced market

Capital growth (5yrs)

+15%

Property History

Listed for £85,000

December 6, 2024

Sold for £30,000

2003

Sold for £21,000

1996

Floor Plans

Description

  • Close to Metrocentre +
  • Close to Newcastle City Centre +
  • Enclosed Rear Yard +
  • Fireplace +
  • Great Location +
  • Investment Potential +
  • Large Bay Window +
  • No Chain +

Welcome to Fern Dene Road. This property is a two-bedroom, one-bathroom flat on Fern Dene Road. Keep reading to find out what makes this property unique!

Investment Potential:

With its location and features, this property presents an appealing investment prospect that could bring in a 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.

Ideal for First-time Buyers:

This chain free flat is in a lovely family friendly area, with great schools and local shops nearby. It is a brilliant spot to settle in and start your home-ownership.

Prime Location Close to Metrocentre:

This property enjoys a prime location with easy access to essential amenities as well as being only a ten-minute drive from both the Metrocentre and Newcastle City Centre. This property is also only a 7-minute drive from Gateshead Metro Station making daily life convenient and hassle-free.

The property has a bright living room that features a fireplace with a marble effect to use as a focal point to the room. There is a galley kitchen with built in appliances including an oven and a hob. There is also space in the kitchen for other white goods such as a washing machine.

In this property there are two bedrooms, one double bedroom that features a decorative fireplace as well as a bay window for natural lighting. There is also one single bedroom. You also have one family bathroom complete with a bath and a detachable shower head.

Externally you have on-street parking to the front of the property as well as an 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 (999 years)
Ground Rent: £1 per year
Tyneside Lease
999 years from 05/01/1990
Peppercorn Rent

Agent Details

NGU HOMES, Gateshead

0191 625 0172

Next Steps?

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