3 Bed Flat, Single Let, Cramlington, NE23 7NF, £89,950

58 Burradon Road, Burradon, Cramlington, NE23 7NF - 2 views - 3 months ago

Sold STC

Leasehold

BTL

ROI: 21%

66 m²

+5 photos

ValuationUndervalued

Sold Prices	£70K - £270K
Sold Prices/m²	£729/m² - £2.7K/m²

Square Metres	66.36 m²
Price/m²	£1.4K/m²
Value Estimate	£102,029£102,029
BMV	13%

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£22,488£22,488
Stamp Duty & Legal Fees	£3,899£3,899
Total Cash In	£26,386£26,386

Cash Out
Rent Range	£895 - £1,275£895 - £1,275
Rent Estimate	£951
Running Costs/mo	£491£491
Cashflow/mo	£460£460
Cashflow/yr	£5,516£5,516
ROI	21%21%
Gross Yield	13%13%

Local Sold Prices

14 sold prices from £70K to £270K, average is £124K. £729/m² to £2.7K/m², average is £1.5K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£85K	06/23	1.03 mi	33, Angerton Terrace, Dudley, Cramlington, Tyne And Wear NE23 7JE	£1,012	84	3	Flat
£225K	07/22	1.62 mi	3, Dunnock Place, Wideopen, Newcastle Upon Tyne, Tyne And Wear NE13 6LE	£2,711	83	3	Flat
£210K	01/23	1.69 mi	16, Woodlands Grange, Forest Hall, Newcastle Upon Tyne, Tyne And Wear NE12 9DF	-	-	3	Flat
£77K	04/21	1.7 mi	26, Delaval Road, Forest Hall, Newcastle Upon Tyne, Tyne And Wear NE12 9BA	£1,132	68	3	Flat
£91K	10/21	1.76 mi	11, Oswin Avenue, Newcastle Upon Tyne, Tyne And Wear NE12 9BB	£1,542	59	3	Flat
£125K	10/21	1.88 mi	54, East View, Wideopen, Newcastle Upon Tyne, Tyne And Wear NE13 6EE	£1,330	94	3	Flat
£125K	04/21	1.93 mi	93, East View, Wideopen, Newcastle Upon Tyne, Tyne And Wear NE13 6EF	£1,786	70	3	Flat
£70K	04/21	2 mi	6, Cooperative Terrace, Palmersville, Newcastle Upon Tyne, Tyne And Wear NE12 9HH	£729	96	3	Flat
£150K	08/22	2.42 mi	17, Harwood Close, Cramlington, Northumberland NE23 6AN	-	-	3	Flat
£99K	10/20	2.72 mi	75, Emmerson Place, Shiremoor, Newcastle Upon Tyne, Tyne And Wear NE27 0NE	£1,214	82	3	Flat
£107.5K	01/24	2.78 mi	13, St Andrews Court, Newcastle Upon Tyne, Tyne And Wear NE7 7UT	£1,473	73	3	Flat
£123K	04/23	2.78 mi	15, St Andrews Court, Newcastle Upon Tyne, Tyne And Wear NE7 7UT	£1,538	80	3	Flat
£270K	09/21	2.91 mi	12, Cloister Garth, Newcastle Upon Tyne, Tyne And Wear NE7 7LW	£1,957	138	3	Flat
£187K	12/20	2.99 mi	62, Hyde Terrace, Newcastle Upon Tyne, Tyne And Wear NE3 1AT	£2,726	69	3	Flat

Local Rents

11 rents from £895/mo to £1.3K/mo, average is £1.3K/mo.

Rent	Date	Distance	Address	Beds	Type
£895	01/24	0.35 mi	-	3	Semi-Detached House
£925	07/24	0.42 mi	Camperdown, NEWCASTLE UPON TYNE, NE12 5XL	3	Semi-Detached House
£1,030	05/24	0.6 mi	Cygnet Park, Killingworth, NE12 5AS	3	Flat
£1,200	05/24	0.6 mi	Admiral Way, Killingworth, NE12	3	Flat
£1,185	05/24	0.6 mi	Admiral Way, Killingworth, NE12	3	Flat
£1,275	05/24	0.6 mi	Admiral Way, Killingworth, NE12	3	Flat
£1,275	05/24	0.6 mi	Admiral Way, Killingworth, NE12	3	Flat
£1,275	05/24	0.6 mi	Admiral Way, Killingworth, NE12	3	Flat
£1,275	05/24	0.6 mi	Admiral Way, Killingworth, NE12	3	Flat
£1,275	05/24	0.6 mi	Admiral Way, Killingworth, NE12	3	Flat
£1,275	05/24	0.6 mi	Admiral Way, Killingworth, NE12	3	Flat

Local Area Statistics

Population in NE23	39,16239,162
Population in Cramlington	39,22639,226
Town centre distance	2.82 miles away2.82 miles away
Nearest school	0.10 miles away0.10 miles away
Nearest train station	2.13 miles away2.13 miles away

Rental demand	Tenant's marketTenant's market
Rental growth (12m)	-10%-10%
Sales demand	Seller's marketSeller's market
Capital growth (5yrs)	+31%+31%

Property History

Listed for £89,950

January 6, 2025

Description

First Floor Flat +
Three Bedrooms +
Recently Decorated & New Carpets +
Small Yard to Rear +
Open Views to Front +
No Onward Chain +
Leasehold 999 years from 1983 +
Council Tax Band A +
Energy Rating D +

A recently decorated THREE BEDROOM FIRST FLOOR FLAT situated on Burradon Road in Burradon. With OPEN VIEWS TO THE FRONT the property briefly comprises; entrance hall and landing, lounge, kitchen, three bedrooms and bathroom/WC. Gas central heating and double glazing. The property has recently been recarpeted throughout and there is a small yard to the rear. Available with NO ONWARD CHAIN. To arrange a viewing call COOKE & CO. Energy rating D.