2 Bed Flat, Single Let, Gateshead, NE8 3QD, £50,000

Howard Street, , NE8 3QD - 15 views - 3 months ago

BTL
ROI: 24%
~68 m²
+1 photos

ValuationUndervalued

Sold Prices£39.1K - £110K
Sold Prices/m²£593/m² - £2K/m²

 

 

Square Metres

~68.11 m²
Price/m²£734/m²

Value Estimate

£62,500
BMV25%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£12,500

Stamp Duty & Legal Fees

£2,700

Total Cash In

£15,200

 

 

Cash Out

 

Rent Range

£525 - £1,800

Rent Estimate

£595

Running Costs/mo

£295

Cashflow/mo

£300

Cashflow/yr

£3,597

ROI

24%

Gross Yield

14%

Local Sold Prices

50 sold prices from £39.1K to £110K, average is £89.3K. £593/m² to £2K/m², average is £1.6K/m².

PriceDateDistanceAddressBeds 
£52.5K02/210.16 mi22, Bayfield Gardens, Gateshead, Tyne And Wear NE8 3PT2
£62K01/230.19 mi24, King Edward Street, Gateshead, Tyne And Wear NE8 3PR2
£64K08/210.19 mi50, King Edward Street, Gateshead, Tyne And Wear NE8 3PR2
£40.5K04/210.21 mi45, Howe Street, Gateshead, Tyne And Wear NE8 3PQ2
£66K03/230.23 mi108, Howe Street, Gateshead, Tyne And Wear NE8 3PP2
£66.5K03/240.23 mi48, Howe Street, Gateshead, Tyne And Wear NE8 3PP2
£62.5K02/230.26 mi3, Moore Street, Gateshead, Tyne And Wear NE8 3PN2
£80K06/220.28 mi10, Woodbine Terrace, High Felling, Gateshead, Tyne And Wear NE10 9JU2
£101K06/230.29 mi50, Sanderson Villas, Gateshead, Tyne And Wear NE8 3DD2
£103K04/240.29 mi24, Sanderson Villas, Gateshead, Tyne And Wear NE8 3DD2
£88.5K03/210.34 mi109, Sanderson Villas, Gateshead, Tyne And Wear NE8 3BU2
£95K02/210.34 mi203, Sanderson Villas, Gateshead, Tyne And Wear NE8 3BZ2
£105K02/230.34 mi197, Sanderson Villas, Gateshead, Tyne And Wear NE8 3BZ2
£92.5K10/200.37 mi30, Ovett Gardens, Gateshead, Tyne And Wear NE8 3JH2
£100K01/230.38 mi17, Ovett Gardens, Gateshead, Tyne And Wear NE8 3JH2
£105K12/220.39 mi80, Foster Drive, Gateshead, Tyne And Wear NE8 3JG2
£78K07/210.4 mi16, Radcliffe Close, Gateshead, Tyne And Wear NE8 3JZ2
£76K12/200.41 mi16, Foster Drive, Gateshead, Tyne And Wear NE8 3JG2
£86.5K09/210.42 mi7, Renforth Close, Gateshead, Tyne And Wear NE8 3JF2
£90K08/230.42 mi19, Renforth Close, Gateshead, Tyne And Wear NE8 3JF2
£100K02/230.42 mi55, Renforth Close, Gateshead, Tyne And Wear NE8 3JF2
£95K10/210.42 mi21, Renforth Close, Gateshead, Tyne And Wear NE8 3JF2
£93.5K06/230.44 mi89, Foster Drive, Gateshead, Tyne And Wear NE8 3JA2
£80K09/210.44 mi5, Foster Drive, Gateshead, Tyne And Wear NE8 3JA2
£97K03/230.45 mi201, Redgrave Close, Gateshead, Tyne And Wear NE8 3JT2
£92K09/230.45 mi119, Redgrave Close, Gateshead, Tyne And Wear NE8 3JT2
£75K11/200.45 mi179, Redgrave Close, Gateshead, Tyne And Wear NE8 3JT2
£93K08/210.45 mi131, Redgrave Close, Gateshead, Tyne And Wear NE8 3JT2
£80K11/200.45 mi151, Redgrave Close, Gateshead, Tyne And Wear NE8 3JT2
£66K01/230.45 mi48, The Avenue, Felling, Gateshead, Tyne And Wear NE10 0JA2
£93K07/210.46 mi92, Redgrave Close, Gateshead, Tyne And Wear NE8 3JE2
£95K10/200.46 mi36, Redgrave Close, Gateshead, Tyne And Wear NE8 3JE2
£90K07/240.46 mi8, Redgrave Close, Gateshead, Tyne And Wear NE8 3JE2
£100K03/230.46 mi30, Redgrave Close, Gateshead, Tyne And Wear NE8 3JE2
£105K12/220.46 mi11, Foster Drive, Gateshead, Tyne And Wear NE8 3JA2
£88K03/230.46 mi10, Renforth Close, Gateshead, Tyne And Wear NE8 3JB2
£100K07/230.46 mi58, Renforth Close, Gateshead, Tyne And Wear NE8 3JB2
£85K10/210.49 mi103, Redgrave Close, Gateshead, Tyne And Wear NE8 3JD2
£87K09/210.49 mi35, Redgrave Close, Gateshead, Tyne And Wear NE8 3JD2
£110K11/210.49 mi57, Redgrave Close, Gateshead, Tyne And Wear NE8 3JD2
£97.5K03/210.49 mi101, Redgrave Close, Gateshead, Tyne And Wear NE8 3JD2
£48K06/230.51 mi18, Blake Walk, Gateshead, Tyne And Wear NE8 3NW2
£65K03/230.51 mi66, Fife Street, Gateshead, Tyne And Wear NE8 3RR2
£98.5K11/210.55 mi132, Chaucer Close, Gateshead, Tyne And Wear NE8 3NQ2
£80K09/210.56 mi3, Betjeman Mews, Gateshead, Tyne And Wear NE8 3BF2
£96K10/200.56 mi8, Betjeman Mews, Gateshead, Tyne And Wear NE8 3BF2
£93K06/210.56 mi9, Betjeman Mews, Gateshead, Tyne And Wear NE8 3BF2
£65K05/210.57 mi62, Hewitson Terrace, Gateshead, Tyne And Wear NE10 9HQ2
£39.1K01/210.57 mi15, Hewitson Terrace, Gateshead, Tyne And Wear NE10 9HQ2
£70K03/210.59 mi368, Old Durham Road, Gateshead, Tyne And Wear NE8 4BQ2

Local Rents

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

RentDateDistanceAddressBeds 
£70008/240.05 mi-2
£87506/240.08 mi-2
£65007/240.09 miSunderland Road, Gateshead, NE82
£65007/240.09 mi-2
£59505/240.1 miAsher Street, Gateshead, NE92
£1,80006/240.11 mi-2
£85006/240.13 miBishops Park Road, Gateshead2
£69506/240.16 miBayfield Gardens, Gateshead2
£85007/240.17 mi-2
£85007/240.17 miBayfield Gardens, Gateshead, NE82
£59506/240.19 miKing Edward Street, Gateshead2
£59506/240.19 mi-2
£60005/240.19 mi-2
£52507/240.19 miKing Edward Street, Gateshead, NE82
£85002/250.22 mi-2
£1,10006/240.25 miMoore Street, Gateshead NE82
£64503/250.25 mi-2
£77509/240.25 mi-2
£77512/240.25 mi-2
£71005/240.25 miAcacia Road, Gateshead, Tyne And Wear, NE102
£70007/240.29 miSanderson Villas, St James Village, Gateshead, NE82
£72506/240.29 miSanderson Villas, Gateshead, NE82
£85006/240.3 miSanderson Villas, Gateshead, NE82
£79507/240.3 miSanderson Villas, Gateshead, NE82
£71007/240.32 miMarigold Avenue, Gateshead, Tyne And Wear, NE102
£79511/240.32 mi-2
£68012/230.33 mi-2
£75012/240.33 mi-2
£77506/240.34 miSanderson Villas, Gateshead2
£73006/240.34 miSanderson Villas, Gateshead, NE8 3BU2
£77506/240.34 miSanderson Villas, St James Village, NE82
£77507/240.34 miSanderson Villas, St James Village, NE82
£89512/240.34 mi-2
£80006/240.37 miOvett Gardens, St James Village, Gateshead, Tyne and Wear, NE8 3JH2
£85012/230.38 mi-2
£77512/230.38 mi-2
£85001/250.38 mi-2
£79906/240.39 mi-2
£80006/240.39 miFoster Drive, St James's Village , Gateshead, Tyne and Wear, NE8 3JG2
£60005/240.41 miSandringham Court, Felling, Gateshead, Tyne & Wear, NE10 9UB2
£79004/240.41 mi-2
£80012/240.41 mi-2
£62507/240.41 miMulberry Street, Gateshead, Tyne And Wear, NE102
£70006/240.41 miFoster Drive, St. James Village2
£80007/240.41 miFoster Drive, Gatehead2
£85007/240.41 miOvett Gardens, Gateshead, NE82
£85007/240.41 mi-2
£62505/240.43 miKensington Court, Felling, Gateshead, NE102
£62507/240.44 miKensington Court, Nursery Lane, Gateshead, Tyne and wear, NE10 9UD2
£77506/240.44 miFoster Drive, St James Village, Gateshead2

Local Area Statistics

Population in NE8

32,358

Population in Gateshead

122,353

Town centre distance

0.94 miles away

Nearest school

0.20 miles away

Nearest train station

0.32 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+64%

Sales demand

Balanced market

Capital growth (5yrs)

+15%

Property History

Listed for £50,000

December 16, 2024

Description

MUST BE SOLD AS A 2 WITH 3 BED UPSTAIRS FLAT

Investment opportunity Daniel craig residential brings to the market a 2 bed ground floor flat in need of total refurbishment. This is being sold as part of a pair of flats with the 3 bedroom upper flat (advertised separately £70k). The pair of flats total £120k asking price.  The property consists of a large double bedroom to the front of the property with a bay window. There is smaller second bedroom at the rear of the property.  The living room is situated in the middle of the flat with the kitchen and bathroom at the rear of the property. There is a shared back yard flat with the upstairs which is owned by the same vendor.  As stated earlier, this flat is in total need of refurbishment from top to bottom.

Agent Details

Daniel Craig Residential, Gateshead

0191 265 6555

Next Steps?

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