4 Bed Detached House, Refurb/BRRR, South Shields, NE34 0EQ, £379,000

Mitford Road, South Shields, NE34 0EQ - 4 views - 3 months ago

Leasehold
Refurb/BRRR
~129 m²
+15 photos

ValuationOvervalued

Sold Prices£97.5K - £550K
Sold Prices/m²£786/m² - £3.7K/m²

 

 

Square Metres

~129.26 m²
Price/m²£2.9K/m²

Value Estimate

£267,079

 

 

End Value (After Refurb)

£359,125

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£94,750

Stamp Duty & Legal Fees

£19,020

Refurb Costs

£49,479

Bridging Loan Interest

£9,949

Total Cash In

£174,948

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£359,125

Mortgage (After Refinance)

£269,344

Mortgage LTV

75%

Cash Left In

£174,948

Equity

£89,781

Rent Range

£550 - £3,000

Rent Estimate

£948

Running Costs/mo

£1,332

Cashflow/mo

£-384

Cashflow/yr

£-4,606

Gross Yield

3%

Local Sold Prices

49 sold prices from £97.5K to £550K, average is £295K. £786/m² to £3.7K/m², average is £2.1K/m².

PriceDateDistanceAddressBeds 
£295K09/210.09 mi54, Mitford Road, South Shields, Tyne And Wear NE34 0EQ4
£480K11/210.09 mi64, Mitford Road, South Shields, Tyne And Wear NE34 0EQ4
£360.5K03/210.11 mi189, King George Road, South Shields, Tyne And Wear NE34 0EX4
£329.9K12/200.13 mi77, West Avenue, South Shields, Tyne And Wear NE34 6BQ4
£242K03/230.13 mi53, West Avenue, South Shields, Tyne And Wear NE34 6BQ4
£450K12/200.13 mi135, King George Road, South Shields, Tyne And Wear NE34 0EU4
£415K12/200.21 mi10, North Avenue, South Shields, Tyne And Wear NE34 6BB4
£225K02/210.22 mi45, South Avenue, South Shields, Tyne And Wear NE34 6RA4
£335K12/220.28 mi300, Mortimer Road, South Shields, Tyne And Wear NE34 0DL4
£157.6K11/200.29 mi11, South Avenue, South Shields, Tyne And Wear NE34 6QZ4
£430K11/200.32 mi215, Sunderland Road, South Shields, Tyne And Wear NE34 6AQ4
£280K01/240.35 mi98, St Marys Avenue, South Shields, Tyne And Wear NE34 6AG4
£535K03/220.43 mi127, Sunderland Road, South Shields, Tyne And Wear NE34 6NQ4
£250K01/230.46 mi34, Mulberry Crescent, South Shields, Tyne And Wear NE34 8DD4
£210K06/230.46 mi22, Lynwood Way, South Shields, Tyne And Wear NE34 8DB4
£343K11/200.47 mi130, Sunderland Road, South Shields, Tyne And Wear NE34 6NE4
£320K04/210.48 mi103, Sunderland Road, South Shields, Tyne And Wear NE34 6ND4
£352K05/230.52 mi64, Lisle Road, South Shields, Tyne And Wear NE34 6DH4
£225K05/230.56 mi30, Lisle Road, South Shields, Tyne And Wear NE34 6DQ4
£305K07/230.58 mi28, Chester Gardens, South Shields, Tyne And Wear NE34 6NB4
£182.5K05/230.6 mi10, Cranford Street, South Shields, Tyne And Wear NE34 0QN4
£310K03/220.64 mi46, Brandling Court, South Shields, Tyne And Wear NE34 8PA4
£300K05/210.64 mi10, Brandling Court, South Shields, Tyne And Wear NE34 8PA4
£220K09/210.64 mi45, Morpeth Avenue, South Shields, Tyne And Wear NE34 0SF4
£282.5K08/230.64 mi49, Morpeth Avenue, South Shields, Tyne And Wear NE34 0SF4
£216K02/210.64 mi11, Morpeth Avenue, South Shields, Tyne And Wear NE34 0SF4
£272.5K07/240.64 mi35, Morpeth Avenue, South Shields, Tyne And Wear NE34 0SF4
£293.8K03/240.64 mi14, Morpeth Avenue, South Shields, Tyne And Wear NE34 0SF4
£425K04/210.65 mi12, Mayfair Gardens, South Shields, Tyne And Wear NE34 6LZ4
£270K10/200.66 mi89, Birchington Avenue, South Shields, Tyne And Wear NE33 4SA4
£197.5K06/240.66 mi31, School Approach, South Shields, Tyne And Wear NE34 6DR4
£350K05/220.66 mi7, High Trees, South Shields, Tyne And Wear NE34 8EW4
£245K02/210.68 mi155, Stanhope Road, South Shields, Tyne And Wear NE33 4RU4
£290K08/230.68 mi155, Stanhope Road, South Shields, Tyne And Wear NE33 4RU4
£220K09/210.71 mi27, Hepscott Terrace, South Shields, Tyne And Wear NE33 4TH4
£315K01/230.71 mi40, Hepscott Terrace, South Shields, Tyne And Wear NE33 4TH4
£450K02/210.72 mi5, St Georges Avenue, South Shields, Tyne And Wear NE34 6EU4
£375K07/230.74 mi21, Cleaside Avenue, South Shields, Tyne And Wear NE34 8DQ4
£97.5K09/210.75 mi93, Stoddart Street, South Shields, Tyne And Wear NE34 0JS4
£115K03/240.76 mi17, Crondall Street, South Shields, Tyne And Wear NE33 4BL4
£550K10/220.76 mi14, Parkshiel, South Shields, Tyne And Wear NE34 8BU4
£379.9K03/210.76 mi2, Alansway Gardens, South Shields, Tyne And Wear NE33 4UP4
£182.5K08/230.76 mi50, Oxford Avenue, South Shields, Tyne And Wear NE33 4TP4
£400K12/220.79 mi7, Tynedale Road, South Shields, Tyne And Wear NE34 6EX4
£189.9K11/210.79 mi3, Witton Avenue, South Shields, Tyne And Wear NE34 7SB4
£170K03/210.79 mi81, Strathmore Gardens, South Shields, Tyne And Wear NE34 0LH4
£225K01/230.81 mi5, Mackley Close, South Shields, Tyne And Wear NE34 0LJ4
£402K02/220.82 mi2, Parkshiel, South Shields, Tyne And Wear NE34 8BU4
£360K12/200.82 mi8, Grosvenor Road, South Shields, Tyne And Wear NE33 3QQ4

Local Rents

52 rents from £550/mo to £3K/mo, average is £788/mo.

RentDateDistanceAddressBeds 
£90005/240.38 miNorth Close, South Shields, Tyne And Wear, NE343
£79005/240.55 mi-3
£72512/240.57 mi-3
£1,00006/240.58 miRyedale Way, South Shields3
£66503/250.62 mi-3
£78512/240.62 mi-3
£95005/240.63 miCentenary Avenue, South Shields3
£60005/240.66 mi-3
£62511/240.66 mi-3
£85005/240.68 mi-4
£85008/240.68 mi-4
£85008/240.68 mi-4
£85008/240.68 mi-4
£85005/240.71 mi-3
£97505/240.71 miEast Avenue, South Shields, NE343
£80006/240.71 miWear Court, South Shields3
£90002/250.72 mi-3
£80005/240.73 mi-3
£95005/240.73 miEast Avenue, South Shields, NE343
£77505/240.73 mi-3
£79506/240.74 miVine Street, South Shields3
£1,37502/250.75 mi-4
£80010/240.77 mi-3
£65003/250.77 mi-3
£75003/250.77 mi-6
£65003/250.79 mi-3
£67507/240.8 miVine Street, South Shields3
£60006/240.8 miWest Park, South Shields, NE33 4RG3
£60007/240.8 miWest Park, South Shields, NE33 4RG3
£55007/240.8 miStanhope Road, South Shields, Tyne and Wear, NE333
£1,40001/250.82 mi-3
£58502/240.84 mi-3
£1,80006/240.84 mi-3
£1,50012/240.84 mi-3
£3,00006/240.84 mi-5
£3,00012/240.84 mi-5
£75005/240.85 miBoldon Lane, South Shields4
£85007/240.85 miHorsley Vale, South Shields3
£75004/240.86 mi-3
£75006/240.86 mi-3
£59502/250.88 mi-3
£79505/240.88 mi-3
£79507/240.89 mi-3
£79506/240.89 miWadham Terrace, South Shields, NE343
£75007/240.89 miWest Harton, South Shields, NE34 0BU3
£75007/240.89 miWest Harton, South Shields, NE34 0BU3
£69512/240.9 miRavensworth Terrace, South Shields3
£60005/240.9 mi-3
£75005/240.91 mi-3
£77502/250.92 mi-3
£72003/240.93 miGordon Street, South Shields, Tyne And Wear, NE333
£72505/240.94 miWhiteleas Way, South Shields3

Local Area Statistics

Population in NE34

52,101

Population in South Shields

79,432

Town centre distance

0.61 miles away

Nearest school

0.40 miles away

Nearest train station

0.91 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+35%

Sales demand

Seller's market

Capital growth (5yrs)

+27%

Property History

Listed for £379,000

January 7, 2025

Description

  • Spacious Detached House +
  • Sought After Location in South Shields +
  • Generous South Facing Rear Garden +
  • Available with Vacant Possession +
  • Offering Potential for Modernisation & Personalisation +
  • Early Viewing Advised to Appreciate this Lovely Home +
  • Reference: 460034 +

Situated in a highly sought-after location within South Shields, this spacious detached house offers an exceptional opportunity and is available with vacant possession. Benefitting from a generous southerly facing rear garden, the property boasts versatile accommodation across two floors.

The ground floor features a welcoming and spacious entrance hall, complete with a guest cloakroom. The open-plan living and dining area is light and airy, enhanced by large picture windows that offer views of the conservatory and the garden beyond. At the heart of the home lies the kitchen breakfast room, offering potential for modernisation and personalisation. A well-proportioned utility room provides additional practicality and convenience.

Ascending to the first floor, a bright and well-sized landing gives access to four bedrooms of varying sizes, ideal for flexible use to suit a growing family's needs. A modern shower room is also located on this level. The property has been thoughtfully maintained, featuring solar panels, an attached garage, and occupying a generous plot size. Offered with vacant possession, this home is ready for its new owners to move in and make it their own.

Arrange your viewing today to fully appreciate all that this charming home has to offer.
ENTRANCE PORCH
Front door to entrance porch leading to entrance hallway.
ENTRANCE HALLWAY
Stairs up and under stairs cupboard.
GROUND FLOOR WC
Low level w.c., wash basin in vanity unit.
KITCHEN 6.17m (20'3) x 2.88m (9'5)
Range and base units with work tops over. Glazed display units, ceramic tiling to splash backs.
UTILITY 4.7m (15'5) x 2.53m (8'4)
Belfast sink, wall and base units, ceramic tiling to floor. Ladder radiator.
LOUNGE/DINER 6.87m (22'6) reducing to 3.83 x 5.99m (19'8) reducing to 3.81
Patio doors to conservatory. Plantation shutters to front windows, radiator.
CONSERVATORY 6.72m (22'1) x 3.15m (10'4)
Easy clean style roof with sun blinds, ceramic tiling to floor. Wall light and radiator.
FIRST FLOOR LANDING

FRONT BEDROOM 2.9m (9'6) x 2.26m (7'5)
Built in cupboard, radiator.
REAR BEDROOM 3.72m (12'2) x 3.4m (11'2)
Built in robes, wood folding shutters to windows, radiator.
REAR BEDROOM 3.39m (11'1) x 2.43m (8') plus built in cupboard
Radiator.
REAR BEDROOM 2.67m (8'9) plus built in cupboard3.21 x 3.21m (10'6)
Radiator.
SHOWER ROOM 2.32m (7'7) x 1.62m (5'4)
Shower cubicle, low level w.c., wash basin in vanity surround. Heated chrome towel rail.
EXTERNALLY
Lawns and borders to the front. Garden to the rear with lawns, borders, exterior lighting and cold water tap.
DRIVEWAY
Block paved driveway to the front leading to ingetral garage.
GARAGE
Attached garage with electric remote controlled door, light and power.
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 5 Mbps and a maximum download speed of 1000 Mbps at this postcode: NE34 0EQ and mobile coverage is provided by EE, Three, O2, 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: E
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.
AGENTS NOTE
There are solar panels fitted to this property. We understand that these are the posssession of the current vendor. We would advise all buyers make their own enquiries prior to financial commitment to purchase.

EPC Rating:

Agent Details

Andrew Craig, South Shields

0191 625 0766

Next Steps?

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