2 Bed Flat, Single Let, Washington, NE38 8RR, £74,950

36 Fernlea Close, Fatfield, Washington, NE38 8RR - 4 months ago

Leasehold

BTL

ROI: 10%

~68 m²

+3 photos

ValuationUndervalued

Sold Prices	£40K - £275K
Sold Prices/m²	£515/m² - £24.2K/m²

Square Metres	~68.11 m²
Price/m²	£1.1K/m²
Value Estimate	£82,392£82,392
BMV	10%

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£18,738£18,738
Stamp Duty & Legal Fees	£3,449£3,449
Total Cash In	£22,186£22,186

Cash Out
Rent Range	£550 - £1,100£550 - £1,100
Rent Estimate	£550
Running Costs/mo	£364£364
Cashflow/mo	£186£186
Cashflow/yr	£2,229£2,229
ROI	10%10%
Gross Yield	9%9%

Local Sold Prices

50 sold prices from £40K to £275K, average is £67.8K. £515/m² to £24.2K/m², average is £1.2K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£64K	05/22	0.09 mi	66, Newriggs, Washington, Tyne And Wear NE38 8RT	£1,103	58	2	Flat
£61K	11/21	0.13 mi	64, Broadmeadows, Washington, Tyne And Wear NE38 8RH	-	-	2	Flat
£68K	05/21	0.15 mi	19, Broadmeadows, Washington, Tyne And Wear NE38 8RQ	£1,214	56	2	Flat
£75K	08/22	0.31 mi	46, Southcroft, Washington, Tyne And Wear NE38 8RD	£1,235	61	2	Flat
£68K	03/23	0.36 mi	66, Hogarth Drive, Washington, Tyne And Wear NE38 7LT	£1,235	55	2	Flat
£61K	06/21	0.39 mi	32, Hogarth Drive, Washington, Tyne And Wear NE38 7LB	-	-	2	Flat
£64.5K	10/20	0.39 mi	34, Hogarth Drive, Washington, Tyne And Wear NE38 7LB	£1,213	53	2	Flat
£72K	08/22	0.39 mi	13, Hogarth Drive, Washington, Tyne And Wear NE38 7LB	-	-	2	Flat
£90K	07/22	0.59 mi	29, Chacombe, Washington, Tyne And Wear NE38 7HB	£2,143	42	2	Flat
£96.5K	07/23	0.59 mi	31, Chacombe, Washington, Tyne And Wear NE38 7HB	£1,915	50	2	Flat
£70K	06/21	0.66 mi	19, Biddick Village Centre, Washington, Tyne And Wear NE38 7NP	£1,167	60	2	Flat
£82K	03/23	0.66 mi	35, Biddick Village Centre, Washington, Tyne And Wear NE38 7NP	-	-	2	Flat
£77K	11/23	0.74 mi	6, Glen Terrace, Washington, Tyne And Wear NE38 7AY	£1,375	56	2	Flat
£72K	09/22	0.81 mi	17, Emmerson Terrace, Washington, Tyne And Wear NE38 7LN	£515	140	2	Flat
£75K	07/23	0.87 mi	40, Pendle Close, Washington, Tyne And Wear NE38 0PZ	£1,271	59	2	Flat
£60K	09/22	0.92 mi	23, Pendle Close, Washington, Tyne And Wear NE38 0PZ	£1,250	48	2	Flat
£100K	09/21	0.92 mi	12, Kingswood, Penshaw, Houghton Le Spring, Tyne And Wear DH4 7PP	£1,538	65	2	Flat
£97.5K	08/22	0.98 mi	14, Burtree, Washington, Tyne And Wear NE38 0RA	£1,950	50	2	Flat
£43K	04/21	1.06 mi	49, Newstead Court, Washington, Tyne And Wear NE38 7PF	£729	59	2	Flat
£275K	12/20	1.16 mi	20, Liberty Green, Washington, Tyne And Wear NE38 7UA	£1,884	146	2	Flat
£125K	10/21	1.17 mi	3, Tulip Court, Penshaw, Houghton Le Spring, Tyne And Wear DH4 7JL	£1,608	78	2	Flat
£60K	11/20	1.19 mi	112, Burnhope Road, Washington, Tyne And Wear NE38 8EA	£1,071	56	2	Flat
£50K	08/22	1.21 mi	48, Warkworth Close, Washington, Tyne And Wear NE38 0JN	£833	60	2	Flat
£65K	07/23	1.23 mi	40, Eddleston, Washington, Tyne And Wear NE38 9ED	-	-	2	Flat
£55K	10/22	1.3 mi	13, Witton Court, Washington, Tyne And Wear NE38 0JH	-	-	2	Flat
£40K	12/20	1.3 mi	15, Witton Court, Washington, Tyne And Wear NE38 0JH	£653	61	2	Flat
£72.5K	07/23	1.33 mi	89, Dilston Close, Washington, Tyne And Wear NE38 0HE	-	-	2	Flat
£85K	06/23	1.33 mi	87, Dilston Close, Washington, Tyne And Wear NE38 0HE	£1,735	49	2	Flat
£55K	06/22	1.33 mi	8, Dunstanburgh Close, Washington, Tyne And Wear NE38 0JE	£1,122	49	2	Flat
£52.5K	08/22	1.33 mi	116, Lumley Close, Washington, Tyne And Wear NE38 0HZ	£833	63	2	Flat
£70K	06/23	1.33 mi	131, Lumley Close, Washington, Tyne And Wear NE38 0HZ	-	-	2	Flat
£67.5K	03/21	1.33 mi	5, Musgrave Terrace, Washington, Tyne And Wear NE38 7HR	£1,071	63	2	Flat
£67.5K	03/21	1.34 mi	5, Musgrave Terrace, Washington, Tyne And Wear NE38 7HR	£1,071	63	2	Flat
£58K	05/21	1.35 mi	28, Wansbeck, Washington, Tyne And Wear NE38 9EF	£899	65	2	Flat
£63K	06/22	1.36 mi	6, Petteril, Rickleton, Washington, Tyne And Wear NE38 9EQ	£984	64	2	Flat
£75K	08/22	1.37 mi	11, Sandpiper Close, Washington, Tyne And Wear NE38 0EG	£1,210	62	2	Flat
£60K	01/23	1.41 mi	9, Lumley Close, Washington, Tyne And Wear NE38 0HX	£984	61	2	Flat
£65K	11/21	1.42 mi	50, Alwin, Washington, Tyne And Wear NE38 9EW	-	-	2	Flat
£71K	10/21	1.45 mi	2, Teal Close, Washington, Tyne And Wear NE38 0EA	£1,065	67	2	Flat
£52K	08/23	1.47 mi	98, Bamburgh Close, Washington, Tyne And Wear NE38 0HR	£867	60	2	Flat
£85K	09/23	1.67 mi	55, Grizedale, Washington, Tyne And Wear NE37 1TZ	£1,667	51	2	Flat
£250K	11/20	1.7 mi	Westway, Boundary Houses, Houghton Le Spring, Tyne And Wear DH4 4PZ	£2,778	90	2	Flat
£59.5K	02/21	1.72 mi	8, Lingmell, Washington, Tyne And Wear NE37 1TN	£1,102	54	2	Flat
£50K	11/22	1.73 mi	1, Lingmell, Washington, Tyne And Wear NE37 1TN	-	-	2	Flat
£80.5K	10/22	1.74 mi	6, Drumaldrace, Washington, Tyne And Wear NE37 1SR	-	-	2	Flat
£63.1K	11/20	1.75 mi	3, Drumaldrace, Washington, Tyne And Wear NE37 1SR	£1,539	41	2	Flat
£72.5K	02/23	1.76 mi	24, Drumaldrace, Washington, Tyne And Wear NE37 1SR	£24,167	3	2	Flat
£79.5K	07/22	1.76 mi	64, Lingmell, Washington, Tyne And Wear NE37 1TT	-	-	2	Flat
£40K	06/23	1.79 mi	14, Mardale, Washington, Tyne And Wear NE37 1TH	-	-	2	Flat
£46K	06/23	1.8 mi	23, Meadow Terrace, Houghton Le Spring, Tyne And Wear DH4 7AF	£687	67	2	Flat

Local Rents

20 rents from £550/mo to £1.1K/mo, average is £663/mo.

Rent	Date	Distance	Address	Beds	Type
£615	05/24	0.31 mi	Southcroft, Fatfield, Washington	2	Flat
£550	12/24	0.39 mi	Hogarth Drive	2	Flat
£850	12/24	0.56 mi	Morland Avenue, Columbia, Washington	2	Bungalow
£750	12/24	0.61 mi	The Parade, Washington	2	Terraced House
£675	12/24	0.66 mi	Fountains Close, Biddick, Washington, Tyne and Wear, NE38	2	Terraced House
£550	05/24	0.67 mi	Robinson Terrace, Columbia, Washington	2	Flat
£625	05/24	0.74 mi	-	2	Flat
£675	12/24	0.76 mi	-	2	Flat
£575	05/24	0.8 mi	Arlington Court, Columbia, Washington	2	Flat
£650	05/24	0.8 mi	Grasmere Gardens, Columbia, Washington	2	Terraced House
£600	12/24	0.82 mi	Railway Terrace, Penshaw, Houghton-le-Spring	2	Terraced House
£650	05/24	0.83 mi	Emmerson Terrace, Columbia, Washington	2	Flat
£700	12/24	0.92 mi	4 Appleby Close	2	Terraced House
£675	09/24	0.92 mi	-	2	Terraced House
£995	12/24	1.03 mi	Dame Margaret Hall, The Avenue, Washington Village	2	Flat
£1,100	12/24	1.03 mi	Dame Margaret Hall, Washington Village, Washington	2	Flat
£750	12/24	1.04 mi	-	2	Bungalow
£700	12/24	1.18 mi	Helvellyn Avenue, Lambton	2	House
£595	12/24	1.18 mi	-	2	Flat
£600	12/24	1.23 mi	Mitford Close, Oxclose, Washington, NE38	2	Flat

Local Area Statistics

Population in NE38	31,23231,232
Population in Washington	52,26452,264
Town centre distance	1 miles away1 miles away
Nearest school	0.20 miles away0.20 miles away
Nearest train station	3 miles away3 miles away

Rental growth (12m)	+35%+35%
Sales demand	Seller's marketSeller's market
Capital growth (5yrs)	+7%+7%

Property History

Listed for £74,950

December 13, 2024

Description

Two Bedrooms +
Upper Floor Flat +
Gas Central Heating and Double Glazing +
Vacant Possession +
Close to Local Amenities +
Viewings Recommended +

Safe and Secure welcome to the market this Two Bedroom Upper Floor Flat in the sought after area of Fernlea Close, Fatfield.
This spacious home benefits from gas central heating and double glazing.
Close to local amenities and transport links, the property would suit a variety of buyers.
With vacant possession, viewings are recommended.

ENTRANCE HALL Double glazed entrance door.

LOUNGE 10' 5" x 15' 5" (3.2m x 4.7m) Double glazed window to rear, radiator and television point.

KITCHEN 6' 2" x 9' 10" (1.9m x 3.0m) Fitted wall and base units, work surfaces, single bowl sink and drainer unit, built in electric oven and gas hob, radiator and double glazed window to front.

MASTER BEDROOM 12' 9" x 9' 10" (3.9m x 3.0m) Double glazed window to rear and radiator.

BEDROOM 2 12' 9" x 6' 6" (3.9m x 2.0m) Double glazed window to rear and radiator.

BATHROOM White three piece suite comprising of panelled bath with shower over, pedestal wash hand basin, low level WC, radiator, extractor fan and double glazed window to front.

Agent Details

Safe & Secure Properties, Houghton Le Spring

0191 625 1035

Next Steps?

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

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2 Bed Flat, Single Let, Washington, NE38 8RR, £74,950

ValuationUndervalued

CashflowsOpen in Analyser

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Local RentsDownload Show map

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Local Area Statistics

Property History

Description

Agent Details

Next Steps?

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Cashflows

Local Sold Prices

Local Rents