2 Bed Flat, Single Let, Whitley Bay, NE26 2PQ, £170,000

Margaret Road, Whitley Bay, Tyne and Wear, NE26 2PQ - 1 views - 4 months ago

Sold STC
Leasehold
BTL
ROI: 1%
~68 m²
+3 photos

ValuationOvervalued

Sold Prices£82.5K - £305K
Sold Prices/m²£1.1K/m² - £4.8K/m²

 

 

Square Metres

~68.11 m²
Price/m²£2.5K/m²

Value Estimate

£153,070

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£42,500

Stamp Duty & Legal Fees

£6,300

Total Cash In

£48,800

 

 

Cash Out

 

Rent Range

£700 - £2,000

Rent Estimate

£740

Running Costs/mo

£699

Cashflow/mo

£41

Cashflow/yr

£489

ROI

1%

Gross Yield

5%

Local Sold Prices

50 sold prices from £82.5K to £305K, average is £152.5K. £1.1K/m² to £4.8K/m², average is £2.2K/m².

PriceDateDistanceAddressBeds 
£176K01/230.01 mi72, Margaret Road, Whitley Bay, Tyne And Wear NE26 2PQ2
£186.5K02/230.02 mi25, Margaret Road, Whitley Bay, Tyne And Wear NE26 2PH2
£220K01/230.04 mi10, Grafton Road, Whitley Bay, Tyne And Wear NE26 2NR2
£165K04/210.05 mi19, Naters Street, Whitley Bay, Tyne And Wear NE26 2PG2
£190K08/230.07 mi49, Eskdale Terrace, Whitley Bay, Tyne And Wear NE26 2PJ2
£150K12/200.07 mi29, Eskdale Terrace, Whitley Bay, Tyne And Wear NE26 2PJ2
£173K03/210.07 mi23, Eskdale Terrace, Whitley Bay, Tyne And Wear NE26 2PJ2
£152K03/210.07 mi35, Eskdale Terrace, Whitley Bay, Tyne And Wear NE26 2PJ2
£113K05/230.1 miSecond Floor Flat, 30, Whitley Road, Whitley Bay, Tyne And Wear NE26 2NF2
£155K10/210.12 mi28, Marden Crescent, Whitley Bay, Tyne And Wear NE26 2EE2
£170.5K07/230.12 mi20, Marden Crescent, Whitley Bay, Tyne And Wear NE26 2EE2
£150K06/230.12 mi14, Marden Crescent, Whitley Bay, Tyne And Wear NE26 2EE2
£145K12/220.14 mi126, John Street, Cullercoats, North Shields, Tyne And Wear NE30 4PJ2
£155K08/230.15 mi4, Braeside Terrace, Whitley Bay, Tyne And Wear NE26 2EF2
£180.8K10/200.16 mi25, John Street, Cullercoats, North Shields, Tyne And Wear NE30 4PJ2
£173.8K11/230.16 mi39a, John Street, Cullercoats, North Shields, Tyne And Wear NE30 4PJ2
£118K05/210.17 mi2a, Devonshire Terrace, Whitley Bay, Tyne And Wear NE26 2EJ2
£140K12/220.19 mi9a, Stanley Crescent, Whitley Bay, Tyne And Wear NE26 2EB2
£155.1K09/220.2 mi6, Dove Court, North Shields, Tyne And Wear NE30 4QN2
£279K09/220.22 mi27, Winslow Court, Cullercoats, North Shields, Tyne And Wear NE30 4AE2
£90K06/240.22 mi113b, Whitley Road, Whitley Bay, Tyne And Wear NE26 2ET2
£90K07/230.22 mi16, Cheviot View, Whitley Bay, Tyne And Wear NE26 2BE2
£185K02/230.22 mi31, Winslow Court, Cullercoats, North Shields, Tyne And Wear NE30 4AE2
£305K10/200.22 mi13, Winslow Court, Cullercoats, North Shields, Tyne And Wear NE30 4AE2
£232.5K06/210.22 mi3, Winslow Court, Cullercoats, North Shields, Tyne And Wear NE30 4AE2
£150K05/210.22 mi9, Winslow Court, Cullercoats, North Shields, Tyne And Wear NE30 4AE2
£295K05/210.22 mi29, Winslow Court, Cullercoats, North Shields, Tyne And Wear NE30 4AE2
£185K12/220.23 mi6, Station Road, Cullercoats, North Shields, Tyne And Wear NE30 4PQ2
£115.5K02/230.27 mi7a, Algernon Place, Whitley Bay, Tyne And Wear NE26 2DT2
£165K02/210.33 mi7, Marden Avenue, North Shields, Tyne And Wear NE30 4PB2
£196K01/230.33 mi7, Marden Avenue, North Shields, Tyne And Wear NE30 4PB2
£132.5K08/230.36 mi6a, Esplanade, Whitley Bay, Tyne And Wear NE26 2AG2
£115K03/210.44 mi33, Victoria Terrace, Whitley Bay, Tyne And Wear NE26 2QN2
£127.5K10/200.45 mi75, Jesmond Terrace, Whitley Bay, Tyne And Wear NE26 2JE2
£127K04/230.45 mi25, Jesmond Terrace, Whitley Bay, Tyne And Wear NE26 2JE2
£131.5K02/210.45 mi59, Jesmond Terrace, Whitley Bay, Tyne And Wear NE26 2JE2
£160K08/230.45 mi10, Southleigh, Whitley Bay, Tyne And Wear NE26 2AQ2
£155K12/230.45 mi1, Southleigh, Whitley Bay, Tyne And Wear NE26 2AQ2
£122.5K02/210.45 mi36, Clifton Terrace, Whitley Bay, Tyne And Wear NE26 2JD2
£120K11/200.46 mi30, Jesmond Terrace, Whitley Bay, Tyne And Wear NE26 2JF2
£127.5K10/200.47 mi73, Jesmond Terrace, Whitley Bay, Tyne And Wear NE26 2JE2
£82.5K08/240.49 mi15b, North Parade, Whitley Bay, Tyne And Wear NE26 1NU2
£130K09/220.49 mi19c, North Parade, Whitley Bay, Tyne And Wear NE26 1NU2
£135K11/200.55 mi4, Cambridge Avenue, Whitley Bay, Tyne And Wear NE26 1BB2
£138K02/230.55 mi19, Cambridge Avenue, Whitley Bay, Tyne And Wear NE26 1BB2
£144K03/230.61 mi104, Cambridge Avenue, Whitley Bay, Tyne And Wear NE26 1BA2
£129.9K11/200.61 mi82, Cambridge Avenue, Whitley Bay, Tyne And Wear NE26 1BA2
£173K09/230.61 mi96, Cambridge Avenue, Whitley Bay, Tyne And Wear NE26 1BA2
£153K12/200.63 mi102, Cambridge Avenue, Whitley Bay, Tyne And Wear NE26 1BA2
£180K02/230.65 mi9a, Brook Street, Whitley Bay, Tyne And Wear NE26 1AF2

Local Rents

32 rents from £700/mo to £2K/mo, average is £850/mo.

RentDateDistanceAddressBeds 
£79508/240.03 mi-2
£79506/240.13 mi-2
£85005/240.17 miBurnside House, Rockcliffe Gardens, Whitley Bay2
£77003/250.22 mi-2
£90008/240.24 miStation Road, Cullercoats, North Shields, Tyne and Wear, NE302
£82508/240.35 mi-2
£95006/240.39 miEsplanade, Whitley Bay, Tyne and Wear, NE262
£82507/240.4 miEsplanade, Whitley Bay, Tyne and Wear, NE26 2AL2
£75005/240.4 miEsplanade, Whitley Bay. NE26 2AL2
£97505/240.41 miLinks Road, North Shields2
£75006/240.41 miVictoria Mews2
£74008/240.42 mi-2
£74007/240.42 miMarden Road South, Whitley Bay, NE252
£1,10005/240.43 miMontague Apartments, Whitley Bay2
£1,40005/240.43 miMontague Apartments, Whitley Bay2
£1,15006/240.43 miMontague Apartments, Whitley Bay2
£1,10007/240.43 miBeverley Terrace, Cullercoats2
£85005/240.44 miSouth Parade, Whitley Bay, Tyne and Wear, NE262
£1,15006/240.45 miEsplanade, Whitley Bay, Tyne and Wear, NE26 2AS2
£1,40007/240.45 mi55 Esplanade, Whitley Bay, Tyne and Wear, NE26 2AS2
£80011/230.45 mi-2
£70006/240.45 miClifton Terrace, Whitley Bay2
£75012/240.46 miSouth Parade, Whitley Bay2
£99512/230.47 mi-2
£80007/240.49 miNorth Parade, Whitley Bay, Tyne and Wear, NE262
£89506/240.5 miSouth Parade, Whitley Bay2
£85007/240.51 miNorth Parade, Whitley Bay. NE26 1PA **SUPER STANDARD**2
£85005/240.54 miFarringdon Road, Marden Estate, North Shields2
£97505/240.57 mi-2
£97505/240.57 mi-2
£2,00007/240.58 mi-2
£75008/230.59 mi-2

Local Area Statistics

Population in NE26

19,169

Population in Whitley Bay

49,103

Town centre distance

1.63 miles away

Nearest school

0.10 miles away

Nearest train station

0.30 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+16%

Sales demand

Balanced market

Capital growth (5yrs)

+29%

Property History

Listed for £170,000

December 17, 2024

Description

  • No upper chain +
  • Walking distance to sea front +
  • In need updating +
  • Two double bedrooms +
  • Cullercoats Metro within walking distance +
  • Great first time buy +

Fantastic Opportunity to Own 2-Bedroom Flat in Whitley Bay

This charming 2-bedroom flat, situated in the heart of Whitley Bay, offers an incredible opportunity for first-time buyers, investors, or those looking for a seaside retreat. Perfectly positioned, the property is just a short stroll from the stunning Whitley Bay seafront, where you can enjoy picturesque coastal walks, vibrant cafes, and the lively atmosphere of this sought-after location.

The flat boasts generous living space, with two well-proportioned bedrooms that provide versatility for a growing family, or as a lucrative rental opportunity. The property features a bright and airy living room, perfect for relaxing or entertaining guests, and a well-appointed kitchen with ample storage and workspace.

With no upper chain, the buying process is made simpler and quicker, offering a hassle-free move. While the property is ready to move into, it also presents fantastic potential to modernize and add your personal touch, making it a truly exciting project for any buyer.

Located in a thriving community, you'll have easy access to excellent local amenities, including shops, restaurants, schools, and transport links. Whitley Bay Metro Station is nearby, providing convenient connections to Newcastle city centre and beyond.

Don’t miss this rare chance to secure an affordable property in one of the North East's most desirable coastal towns. Whether you're stepping onto the property ladder, searching for your next investment, or simply longing for a home by the sea, this flat offers exceptional value and potential.

Contact us today to arrange a viewing and take the first step toward making this fantastic property yours.

Agent Details

Greetham Gilbert, Jesmond

0191 743 9741

Next Steps?

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