2 Bed Flat, Single Let, Gateshead, NE10 0QL, £59,000

York Street, Gateshead, NE10 0QL - 2 months ago

BTL

ROI: 17%

~68 m²

+4 photos

ValuationUndervalued

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

Square Metres	~68.11 m²
Price/m²	£866/m²
Value Estimate	£71,390£71,390
BMV	21%

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£14,750£14,750
Stamp Duty & Legal Fees	£4,150£4,150
Total Cash In	£18,900£18,900

Cash Out
Rent Range	£475 - £775£475 - £775
Rent Estimate	£596
Running Costs/mo	£324£324
Cashflow/mo	£272£272
Cashflow/yr	£3,269£3,269
ROI	17%17%
Gross Yield	12%12%

Local Sold Prices

34 sold prices from £53K to £126.5K, average is £82.5K. £802/m² to £1.7K/m², average is £1.2K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£77.5K	12/20	0 mi	34, York Street, Pelaw, Gateshead, Tyne And Wear NE10 0QL	£1,281	61	2	Flat
£86K	06/22	0.01 mi	36, York Street, Pelaw, Gateshead, Tyne And Wear NE10 0QL	£1,319	65	2	Flat
£74K	06/22	0.02 mi	18, York Street, Pelaw, Gateshead, Tyne And Wear NE10 0QL	£1,014	73	2	Flat
£90K	08/23	0.06 mi	18, Portland Street, Gateshead, Tyne And Wear NE10 0XX	£1,424	63	2	Flat
£68K	02/21	0.06 mi	11, Portland Street, Gateshead, Tyne And Wear NE10 0XX	£1,079	63	2	Flat
£94K	06/21	0.07 mi	12, Princess Street, Pelaw, Gateshead, Tyne And Wear NE10 0QT	£1,343	70	2	Flat
£76K	10/22	0.07 mi	30, Princess Street, Pelaw, Gateshead, Tyne And Wear NE10 0QT	£1,194	64	2	Flat
£91.5K	02/23	0.09 mi	8, George Street, Gateshead, Tyne And Wear NE10 0XT	£1,398	65	2	Flat
£65K	11/20	0.13 mi	37, Gosforth Terrace, Gateshead, Tyne And Wear NE10 0YL	£802	81	2	Flat
£70.5K	10/20	0.15 mi	1, Greenfield Terrace, Gateshead, Tyne And Wear NE10 0YH	£1,007	70	2	Flat
£72.5K	06/23	0.15 mi	11, Greenfield Terrace, Gateshead, Tyne And Wear NE10 0YH	£1,126	64	2	Flat
£70.5K	10/20	0.15 mi	1, Greenfield Terrace, Gateshead, Tyne And Wear NE10 0YH	£1,007	70	2	Flat
£81K	02/23	0.15 mi	18, George Street, Gateshead, Tyne And Wear NE10 0XT	-	-	2	Flat
£80K	03/21	0.16 mi	21, Gosforth Terrace, Gateshead, Tyne And Wear NE10 0RA	-	-	2	Flat
£53K	07/23	0.16 mi	8, Gosforth Terrace, Gateshead, Tyne And Wear NE10 0RA	-	-	2	Flat
£80K	02/21	0.17 mi	22, Cartmel Park, Pelaw, Gateshead, Tyne And Wear NE10 0UZ	-	-	2	Flat
£95K	08/23	0.17 mi	28, Cartmel Park, Pelaw, Gateshead, Tyne And Wear NE10 0UZ	-	-	2	Flat
£126.5K	07/22	0.24 mi	24, Galloway Road, Gateshead, Tyne And Wear NE10 0BF	-	-	2	Flat
£92.5K	03/23	0.26 mi	64, Galloway Road, Gateshead, Tyne And Wear NE10 0BF	£1,661	56	2	Flat
£87K	03/23	0.27 mi	37, Croxdale Terrace, Gateshead, Tyne And Wear NE10 0RR	£1,200	73	2	Flat
£110K	08/22	0.3 mi	40, Lauder Way, Pelaw, Gateshead, Tyne And Wear NE10 0BG	-	-	2	Flat
£99.5K	08/22	0.3 mi	50, Lauder Way, Pelaw, Gateshead, Tyne And Wear NE10 0BG	£1,716	58	2	Flat
£84K	10/21	0.3 mi	54, Lauder Way, Pelaw, Gateshead, Tyne And Wear NE10 0BG	£1,438	58	2	Flat
£76K	03/21	0.38 mi	12, Hainingwood Terrace, Gateshead, Tyne And Wear NE10 0UE	£1,041	73	2	Flat
£91.8K	09/22	0.39 mi	17, Wood Terrace, Gateshead, Tyne And Wear NE10 0UD	£1,241	74	2	Flat
£85K	06/21	0.4 mi	15, Wood Terrace, Gateshead, Tyne And Wear NE10 0UD	£1,197	71	2	Flat
£74K	08/21	0.4 mi	17, Station Road, Bill Quay, Gateshead, Tyne And Wear NE10 0UH	£1,298	57	2	Flat
£70K	10/22	0.4 mi	9, Station Road, Bill Quay, Gateshead, Tyne And Wear NE10 0UH	£1,111	63	2	Flat
£85K	12/20	0.46 mi	35, Brack Terrace, Gateshead, Tyne And Wear NE10 0TT	£1,269	67	2	Flat
£85K	12/20	0.49 mi	2, Stowell Terrace, Gateshead, Tyne And Wear NE10 0NX	£1,250	68	2	Flat
£96.5K	06/23	0.49 mi	4, Stowell Terrace, Gateshead, Tyne And Wear NE10 0NX	£1,462	66	2	Flat
£110K	11/22	0.57 mi	24, Woodgate Lane, Gateshead, Tyne And Wear NE10 0TD	£1,746	63	2	Flat
£55K	10/21	0.9 mi	6, Stainton Drive, Gateshead, Tyne And Wear NE10 9QT	£917	60	2	Flat
£66K	01/23	0.94 mi	48, The Avenue, Felling, Gateshead, Tyne And Wear NE10 0JA	£1,138	58	2	Flat

Local Rents

14 rents from £475/mo to £775/mo, average is £650/mo.

Rent	Date	Distance	Address	Beds	Type
£650	06/24	0.03 mi	York Street, Pelaw, Gateshead, Tyne and Wear , NE10 0QL	2	Flat
£590	10/23	0.04 mi	-	2	House
£650	07/24	0.05 mi	Duke Street, Pelawm Gateshead	2	Flat
£650	06/24	0.05 mi	Queen Victoria Street, Gateshead, Tyne and Wear	2	Flat
£725	11/23	0.05 mi	-	2	Flat
£475	05/24	0.07 mi	Queen Victoria Street, Gateshead	2	Flat
£650	06/24	0.07 mi	Portland Street, Pelaw, Gateshead	2	Flat
£775	05/24	0.13 mi	Wynn Gardens, Pelaw, Gateshead, Tyne and Wear, NE10 0YN	2	Detached House
£650	02/25	0.18 mi	-	2	Flat
£675	07/24	0.18 mi	Fisherwell Road, Pelaw	2	House
£775	05/24	0.29 mi	Rydal, Gateshead	2	Terraced House
£600	06/24	0.43 mi	South Parade, Gateshead, NE10	2	Flat
£695	07/24	0.45 mi	Brack Terrace, Bill Quay, Gateshead	2	Flat
£750	05/24	0.46 mi	St. Marys Terrace, Heworth, Gateshead, Tyne and Wear, NE10 0NY	2	Terraced House

Local Area Statistics

Population in NE10	35,99135,991
Population in Gateshead	122,353122,353
Town centre distance	1.80 miles away1.80 miles away
Nearest school	0.10 miles away0.10 miles away
Nearest train station	0.30 miles away0.30 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 £59,000

January 11, 2025

Description

MUST BE SOLD AS A PAIR WITH THE UPSTAIRS FLAT
Both properties are on 1 Title Register so must be sold together
Investment opportunity Daniel craig residential brings to the market a 2 bed ground floor flat in need of total refurbishment. The property consists of a large double bedroom to the front of the property with a bay window. There is smaller second bedroom at the rear of the property. The living room is situated in the middle of the flat with the kitchen and bathroom at the rear of the property. There is a shared back yard flat with the upstairs which is owned by the same vendor. As stated earlier, this flat is in total need of refurbishment from top to bottom.
FREEHOLD