2 Bed Flat, Single Let, Gateshead, NE10 0UZ, £90,000

Cartmel Park, Pelaw, Gateshead, NE10 0UZ - 2 views - 3 months ago

Sold STC

Leasehold

BTL

ROI: 8%

~68 m²

+6 photos

ValuationOvervalued

Sold Prices	£53K - £126.5K
Sold Prices/m²	£802/m² - £1.7K/m²

Square Metres	~68.11 m²
Price/m²	£1.3K/m²
Value Estimate	£84,540£84,540

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£22,500£22,500
Stamp Duty & Legal Fees	£3,900£3,900
Total Cash In	£26,400£26,400

Cash Out
Rent Range	£475 - £795£475 - £795
Rent Estimate	£606
Running Costs/mo	£422£422
Cashflow/mo	£184£184
Cashflow/yr	£2,203£2,203
ROI	8%8%
Gross Yield	8%8%

Local Sold Prices

32 sold prices from £53K to £126.5K, average is £84.5K. £802/m² to £1.7K/m², average is £1.3K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£80K	02/21	0 mi	22, Cartmel Park, Pelaw, Gateshead, Tyne And Wear NE10 0UZ	-	-	2	Flat
£95K	08/23	0 mi	28, Cartmel Park, Pelaw, Gateshead, Tyne And Wear NE10 0UZ	-	-	2	Flat
£126.5K	07/22	0.07 mi	24, Galloway Road, Gateshead, Tyne And Wear NE10 0BF	-	-	2	Flat
£92.5K	03/23	0.09 mi	64, Galloway Road, Gateshead, Tyne And Wear NE10 0BF	£1,661	56	2	Flat
£76K	10/22	0.1 mi	30, Princess Street, Pelaw, Gateshead, Tyne And Wear NE10 0QT	£1,194	64	2	Flat
£94K	06/21	0.11 mi	12, Princess Street, Pelaw, Gateshead, Tyne And Wear NE10 0QT	£1,343	70	2	Flat
£87K	03/23	0.12 mi	37, Croxdale Terrace, Gateshead, Tyne And Wear NE10 0RR	£1,200	73	2	Flat
£99.5K	08/22	0.13 mi	50, Lauder Way, Pelaw, Gateshead, Tyne And Wear NE10 0BG	£1,716	58	2	Flat
£84K	10/21	0.13 mi	54, Lauder Way, Pelaw, Gateshead, Tyne And Wear NE10 0BG	£1,438	58	2	Flat
£110K	08/22	0.13 mi	40, Lauder Way, Pelaw, Gateshead, Tyne And Wear NE10 0BG	-	-	2	Flat
£74K	06/22	0.16 mi	18, York Street, Pelaw, Gateshead, Tyne And Wear NE10 0QL	£1,014	73	2	Flat
£86K	06/22	0.17 mi	36, York Street, Pelaw, Gateshead, Tyne And Wear NE10 0QL	£1,319	65	2	Flat
£77.5K	12/20	0.17 mi	34, York Street, Pelaw, Gateshead, Tyne And Wear NE10 0QL	£1,281	61	2	Flat
£90K	08/23	0.22 mi	18, Portland Street, Gateshead, Tyne And Wear NE10 0XX	£1,424	63	2	Flat
£68K	02/21	0.22 mi	11, Portland Street, Gateshead, Tyne And Wear NE10 0XX	£1,079	63	2	Flat
£80K	03/21	0.24 mi	21, Gosforth Terrace, Gateshead, Tyne And Wear NE10 0RA	-	-	2	Flat
£53K	07/23	0.24 mi	8, Gosforth Terrace, Gateshead, Tyne And Wear NE10 0RA	-	-	2	Flat
£91.5K	02/23	0.24 mi	8, George Street, Gateshead, Tyne And Wear NE10 0XT	£1,398	65	2	Flat
£65K	11/20	0.29 mi	37, Gosforth Terrace, Gateshead, Tyne And Wear NE10 0YL	£802	81	2	Flat
£70.5K	10/20	0.29 mi	1, Greenfield Terrace, Gateshead, Tyne And Wear NE10 0YH	£1,007	70	2	Flat
£76K	03/21	0.3 mi	12, Hainingwood Terrace, Gateshead, Tyne And Wear NE10 0UE	£1,041	73	2	Flat
£72.5K	06/23	0.3 mi	11, Greenfield Terrace, Gateshead, Tyne And Wear NE10 0YH	£1,126	64	2	Flat
£70.5K	10/20	0.3 mi	1, Greenfield Terrace, Gateshead, Tyne And Wear NE10 0YH	£1,007	70	2	Flat
£74K	08/21	0.3 mi	17, Station Road, Bill Quay, Gateshead, Tyne And Wear NE10 0UH	£1,298	57	2	Flat
£70K	10/22	0.3 mi	9, Station Road, Bill Quay, Gateshead, Tyne And Wear NE10 0UH	£1,111	63	2	Flat
£81K	02/23	0.3 mi	18, George Street, Gateshead, Tyne And Wear NE10 0XT	-	-	2	Flat
£91.8K	09/22	0.31 mi	17, Wood Terrace, Gateshead, Tyne And Wear NE10 0UD	£1,241	74	2	Flat
£85K	06/21	0.31 mi	15, Wood Terrace, Gateshead, Tyne And Wear NE10 0UD	£1,197	71	2	Flat
£85K	12/20	0.35 mi	35, Brack Terrace, Gateshead, Tyne And Wear NE10 0TT	£1,269	67	2	Flat
£110K	11/22	0.43 mi	24, Woodgate Lane, Gateshead, Tyne And Wear NE10 0TD	£1,746	63	2	Flat
£85K	12/20	0.64 mi	2, Stowell Terrace, Gateshead, Tyne And Wear NE10 0NX	£1,250	68	2	Flat
£96.5K	06/23	0.64 mi	4, Stowell Terrace, Gateshead, Tyne And Wear NE10 0NX	£1,462	66	2	Flat

Local Rents

19 rents from £475/mo to £795/mo, average is £695/mo.

Rent	Date	Distance	Address	Beds	Type
£475	05/24	0.12 mi	Queen Victoria Street, Gateshead	2	Flat
£650	06/24	0.13 mi	Queen Victoria Street, Gateshead, Tyne and Wear	2	Flat
£675	07/24	0.14 mi	Fisherwell Road, Pelaw	2	House
£650	07/24	0.17 mi	Duke Street, Pelawm Gateshead	2	Flat
£650	06/24	0.17 mi	York Street, Pelaw, Gateshead, Tyne and Wear , NE10 0QL	2	Flat
£590	10/23	0.18 mi	-	2	House
£725	11/23	0.2 mi	-	2	Flat
£650	06/24	0.22 mi	Portland Street, Pelaw, Gateshead	2	Flat
£650	02/25	0.22 mi	-	2	Flat
£775	05/24	0.28 mi	Rydal, Gateshead	2	Terraced House
£775	05/24	0.3 mi	Wynn Gardens, Pelaw, Gateshead, Tyne and Wear, NE10 0YN	2	Detached House
£600	06/24	0.31 mi	South Parade, Gateshead, NE10	2	Flat
£695	07/24	0.34 mi	Brack Terrace, Bill Quay, Gateshead	2	Flat
£795	05/24	0.47 mi	Richmond Avenue, Gateshead	2	Flat
£750	05/24	0.6 mi	St. Marys Terrace, Heworth, Gateshead, Tyne and Wear, NE10 0NY	2	Terraced House
£795	06/24	0.6 mi	Whitemere Gardens, Gateshead, NE10	2	Semi-Detached House
£795	07/24	0.6 mi	Whitemere Gardens, Gateshead, NE10	2	Semi-Detached House
£795	08/24	0.6 mi	-	2	Semi-Detached House
£795	08/24	0.6 mi	-	2	Semi-Detached House

Local Area Statistics

Population in NE10	35,99135,991
Population in Gateshead	122,353122,353
Town centre distance	1.94 miles away1.94 miles away
Nearest school	0.20 miles away0.20 miles away
Nearest train station	0.20 miles away0.20 miles away

Rental demand	Tenant's marketTenant's market
Rental growth (12m)	+32%+32%
Sales demand	Seller's marketSeller's market
Capital growth (5yrs)	+26%+26%

Property History

Listed for £90,000

December 18, 2024

Sold for £85,000

2015

Sold for £85,000

2012

Sold for £43,750

2000

Sold for £40,000

1999

Description

Ground Floor Apartment +
No Onward Chain +
Two Bedrooms +
Refurbished Kitchen +
Council Tax Band A +
EPC Rating D +

Offered for sale with NO ONWARD CHAIN is this well presented GROUND FLOOR apartment with secure intercom entry system, PARKING FOR RESIDENTS and well tended communal gardens. The apartment offers a spacious OPEN PLAN lounge/diner, MODERN REFURBISHED KITCHEN and bathroom together with two good sized bedrooms. This apartment will appeal to a wide range of potential purchasers including first time buyers, investors and those simply seeking to downsize. The development is ideally situated for access to local shopping facilities and amenities as well as for access to transport routes and services.

Agent Details

Sarah Mains Residential Sales and Lettings, Low Fell

0191 625 0805

Next Steps?

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CashflowsOpen in Analyser

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Description

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