2 Bed Flat, Refurb/BRRR, South Shields, NE33 4SA, £69,950

68 Birchington Avenue, South Shields, NE33 4SA - 2 views - 3 months ago

Leasehold
Refurb/BRRR
ROI: 6%
68 m²
+6 photos

ValuationFair Value

Sold Prices£37.5K - £152K
Sold Prices/m²£323/m² - £2.6K/m²

 

 

Square Metres

68 m²
Price/m²£1K/m²

Value Estimate

£71,349

 

 

End Value (After Refurb)

£90,151

Uplift in Value

+29%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£17,488

Stamp Duty & Legal Fees

£3,299

Refurb Costs

£25,958

Bridging Loan Interest

£1,836

Total Cash In

£50,330

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£90,151

Mortgage (After Refinance)

£67,613

Mortgage LTV

75%

Cash Released

£15,151

Cash Left In

£35,179

Equity

£22,538

Rent Range

£475 - £1,900

Rent Estimate

£672

Running Costs/mo

£436

Cashflow/mo

£236

Cashflow/yr

£2,831

ROI

6%

Gross Yield

12%

Local Sold Prices

50 sold prices from £37.5K to £152K, average is £73.5K. £323/m² to £2.6K/m², average is £1.1K/m².

PriceDateDistanceAddressBeds 
£75K06/210.08 mi92, Birchington Avenue, South Shields, Tyne And Wear NE33 4SA2
£74K06/230.09 mi18, Crondall Street, South Shields, Tyne And Wear NE33 4BL2
£78K06/210.1 mi22, Newbury Street, South Shields, Tyne And Wear NE33 4UE2
£90K11/210.1 mi15, Shrewsbury Terrace, South Shields, Tyne And Wear NE33 4LF2
£85K05/230.11 mi19, Birchington Avenue, South Shields, Tyne And Wear NE33 4TY2
£76.5K06/210.14 mi11, Pembroke Terrace, South Shields, Tyne And Wear NE33 4LG2
£72K06/230.15 mi39, West Park Road, South Shields, Tyne And Wear NE33 4LB2
£73K11/210.16 mi41, Oxford Street, South Shields, Tyne And Wear NE33 4BH2
£95K11/210.16 mi50, Oxford Street, South Shields, Tyne And Wear NE33 4BH2
£45K07/210.17 mi91, Collingwood Street, South Shields, Tyne And Wear NE33 4JZ2
£70K02/210.17 mi107, Mortimer Road, South Shields, Tyne And Wear NE33 4UH2
£84.5K06/210.18 mi125, Birchington Avenue, South Shields, Tyne And Wear NE33 4SB2
£82.5K09/230.18 mi12, Clifton Terrace, South Shields, Tyne And Wear NE33 4LD2
£110K09/210.19 mi84, Hepscott Terrace, South Shields, Tyne And Wear NE33 4TJ2
£117K12/230.21 mi64, Warwick Road, South Shields, Tyne And Wear NE34 0SQ2
£108K09/210.21 mi40, Warwick Road, South Shields, Tyne And Wear NE34 0SQ2
£58.5K07/230.22 mi117, Marlborough Street South, South Shields, Tyne And Wear NE33 4DB2
£56K12/220.25 mi2, Oxford Avenue, South Shields, Tyne And Wear NE33 4TW2
£80.5K01/230.26 mi83, Canterbury Street, South Shields, Tyne And Wear NE33 4DD2
£97K05/230.27 mi54, Hartington Terrace, South Shields, Tyne And Wear NE33 4DE2
£55K01/210.31 mi26, Northcote Street, South Shields, Tyne And Wear NE33 4BY2
£48K05/210.32 mi91, Northcote Street, South Shields, Tyne And Wear NE33 4DJ2
£68K05/210.33 mi313, Stanhope Road, South Shields, Tyne And Wear NE33 4SS2
£65K08/210.35 mi241, Dean Road, South Shields, Tyne And Wear NE33 5LD2
£100K09/230.35 mi64, Ashley Road, South Shields, Tyne And Wear NE34 0PD2
£107K08/230.35 mi92, Ashley Road, South Shields, Tyne And Wear NE34 0PD2
£110K07/210.35 mi36, Cauldwell Place, South Shields, Tyne And Wear NE34 0SA2
£42K11/200.36 mi194, Stanhope Road, South Shields, Tyne And Wear NE33 4ST2
£63K05/220.36 mi13, Cranford Street, South Shields, Tyne And Wear NE34 0QN2
£70K08/210.37 mi386, Dean Road, South Shields, Tyne And Wear NE33 5LL2
£53.5K06/230.4 mi129, Alice Street, South Shields, Tyne And Wear NE33 5PG2
£152K03/210.41 mi6, Kensington Court, South Shields, Tyne And Wear NE33 3DT2
£39.9K07/210.41 mi34, Talbot Road, South Shields, Tyne And Wear NE34 0QJ2
£137.5K01/230.42 mi42, Cauldwell Place, South Shields, Tyne And Wear NE34 0SA2
£82K07/220.44 mi10, Crofton Street, South Shields, Tyne And Wear NE34 0QP2
£83.5K10/230.46 mi57, Gordon Road, South Shields, Tyne And Wear NE34 0QR2
£37.5K11/200.48 mi17, Egerton Road, South Shields, Tyne And Wear NE34 0QH2
£48K11/200.49 mi157, Talbot Road, South Shields, Tyne And Wear NE34 0RG2
£82K01/230.49 mi29, High Shields Close, South Shields, Tyne And Wear NE33 5ES2
£73K01/210.5 mi184, Ashley Road, South Shields, Tyne And Wear NE34 0PQ2
£52.5K09/210.51 mi367, Taylor Street, South Shields, Tyne And Wear NE33 5AW2
£53K10/230.51 mi387, Taylor Street, South Shields, Tyne And Wear NE33 5AW2
£56K03/210.52 mi292, Stanhope Road, South Shields, Tyne And Wear NE33 4QZ2
£107.5K05/210.52 mi326, Stanhope Road, South Shields, Tyne And Wear NE33 4QZ2
£74K11/200.53 mi164, Talbot Road, South Shields, Tyne And Wear NE34 0RF2
£40K11/200.54 mi31, Bedford Avenue, South Shields, Tyne And Wear NE33 4QJ2
£49K03/210.54 mi96, Imeary Street, South Shields, Tyne And Wear NE33 4EQ2
£65K12/230.55 mi44, East Moffett Street, South Shields, Tyne And Wear NE33 3PL2
£62.3K05/210.55 mi24, Ingham Grange, South Shields, Tyne And Wear NE33 3JJ2
£125K02/240.55 mi34, Ingham Grange, South Shields, Tyne And Wear NE33 3JJ2

Local Rents

50 rents from £475/mo to £1.9K/mo, average is £600/mo.

RentDateDistanceAddressBeds 
£65004/240.07 mi-2
£69512/240.08 mi-2
£52002/240.08 mi-2
£55007/240.08 mi-2
£70004/250.18 mi-2
£60005/240.18 mi-2
£65002/240.18 mi-2
£55007/240.19 mi-2
£55006/240.19 miCollingwood Street, South Shields, NE332
£55007/240.19 miCollingwood Street, South Shields, NE332
£57503/240.21 mi-2
£70005/240.23 mi-2
£70007/240.23 mi-2
£69507/240.25 miOxford Avenue, South Shields2
£57506/240.26 mi-2
£60004/250.32 mi-2
£52003/240.33 mi-2
£62506/240.35 miAshley Road, South Shields2
£60003/250.36 mi-2
£55005/240.37 mi-2
£65004/250.38 mi-2
£75003/250.4 mi-2
£60005/240.41 mi-2
£47512/240.41 mi33 Revesby Street South Shields NE33 4SY2
£60011/230.41 mi-2
£58509/240.41 mi-2
£60004/250.41 mi-2
£65006/240.41 miTalbot Road, South Shields, South Tyneside2
£60005/240.43 mi-2
£75003/250.43 mi-2
£52009/230.43 mi-2
£65010/230.44 mi-2
£57505/240.44 mi-2
£55003/250.44 mi-2
£60012/240.45 miRekendyke Mews, South Shields2
£69502/240.46 mi-2
£62505/240.47 miGordon Road, South Shields, Tyne and Wear, NE342
£1,90006/240.47 mi-2
£1,90007/240.47 mi-2
£79503/250.5 mi-2
£79505/240.52 miNora Street, South Shields2
£52005/240.52 mi-2
£50006/240.52 miWest Harton, South Shields, NE34 0JR2
£68503/250.52 mi-2
£59506/240.53 mi-2
£59502/250.53 mi-2
£65006/240.54 miWestcott Road, South Shields2
£67505/240.55 mi96 Imeary Street, South Shields2
£64506/240.55 miImeary Street, South Shields, Tyne and Wear, NE332
£60012/230.55 mi-2

Local Area Statistics

Population in NE33

27,262

Population in South Shields

79,432

Town centre distance

0.23 miles away

Nearest school

0.10 miles away

Nearest train station

0.67 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+19%

Sales demand

Seller's market

Capital growth (5yrs)

+8%

Property History

Listed for £69,950

January 6, 2025

Description

  • Sold With No Onward Chain & Vacant Possession ! +
  • Ready For Modernisation & Personalisation +
  • Offered With A Shared Yard To Rear +
  • Great Rental Investment Opportunity +
  • Local Schools, Shops, Bus Links, Parks & Chichester Metro +
  • Reference : 459559 +

PUBLIC NOTICE
Andrew Craig Estate Agents are now in receipt of an offer for the sum of £67,500 for 68 Birchington Avenue, South Shields, NE33 4SA. Anyone wishing to place an offer on this property should contact Andrew Craig, 122 Fowler Street, South Shields, Tyne & Wear, NE33 4SA before exchange of contracts.

This two bedroom ground floor flat is ideally located on the popular Birchington Avenue, close to a range of amenities including reputable schools, bus links, local shops, and The West Park for enjoyable walks. While the property requires some improvement, it comes with vacant possession, offering a fantastic opportunity for someone to add their own touch. Perfect for a rental investment or property flip!

The property layout comprises of an entrance hall, two well proportioned size bedrooms, a rear lounge which accesses the rear yard and kitchen. Situated off the kitchen is the neutral bathroom. Externally, there's a shared rear yard. Call now to arrange a viewing!
ENTRANCE
Entrance via UPVC door into Hallway.
HALLWAY
Laminate flooring, radiator, under stairs storage cupboard and a double glazed window.
LOUNGE 4.42m (14'6) x 3.58m (11'9)
Laminate flooring, double glazed UPVC door to rear yard, radiator and a door into the Kitchen.
KITCHEN 3.35m (11'0) x 1.6m (5'3)
Range of wall and base units, integrated oven and hob with over head extractor hood, laminate flooring, radiator. Double glazed window, tiled splashbacks, stainless steel sink with mixer tap, plumbing for washing machine and space for under bench fridge and freezer.
BATHROOM
'P' shaped bath with a mixer tap, separate shower head attachment over bath and a shower screen. Pedestal hand wash basin, double glazed window, low flush w.c., radiator and part tiling to the walls.
BEDROOM ONE 5.41m (17'9) x 4.17m (13'8)
Double glazed bay window and radiator.
BEDROOM TWO 2.77m (9'1) x 3.51m (11'6)
Double glazed window, radiator and laminate flooring.
EXTERNALLY
Shared yard to rear.
Tenure
We will provide as much information about tenure as we are able to and in the case of leasehold properties, we can in most cases provide a copy of the lease. They can be complex and buyers are advised to take legal advice upon the full terms of a lease. Where a lease is not readily available we will apply for a copy and this can take time.
Broadband & Mobile Coverage
The Ofcom website states the average broadband download speed of 9 Mbps and a maximum download speed of 1000 Mbps at this postcode: NE33 4SA and mobile coverage is provided by EE, Three, O2 and Vodafone. The checker results are predictions and should not be regarded as guaranteed.
Council Tax
The GOV.UK website states the property is Council Tax Band: A
The Agent Of The North
Andrew Craig is The Agent of the North and as Chartered Surveyors we can help you with all your Residential and Commercial property needs. Sales, Conveyancing, Lettings, Property Management, Surveys and Valuations. Call now on
Money Laundering Regulations
Please note that any offers will require you to be financially verified, meaning you'll need to provide us sight of a mortgage in principle, proof of deposit funds, and proof of cash. You'll also need to provide us with full chain details including agents and solicitors down the chain. To comply with Money Laundering Regulations all buyers will be required to provide us with proof of identification before we can issue acceptance letters and solicitors are instructed.
Material Information
The information provided about this property does not constitute or form part of an offer or contract, nor may it be regarded as representations. All interested parties must verify accuracy and your solicitor must verify tenure and lease information, fixtures and fittings and, where the property has been recently constructed, extended or converted, that planning/building regulation consents are in place. All dimensions are approximate and quoted for guidance only, as are floor plans which are not to scale and their accuracy cannot be confirmed. Reference to appliances and/or services does not imply that they are necessarily in working order or fit for purpose. We offer our clients an optional conveyancing service, through panel conveyancing firms, via Move With Us and we receive on average a referral fee of one hundred and ninety four pounds, only on completion of the sale. If you do use this service, the referral fee is included within the amount that you will be quoted by our suppliers. All quotes will also provide details of referral fees payable.

EPC Rating: C

Agent Details

Andrew Craig, South Shields

0191 625 0766

Next Steps?

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