2 Bed Flat, Cash/Bridging Only, South Shields, NE33 4LD, £60,000

Clifton Terrace, South Shields, NE33 4LD - 2 views - 3 months ago

Leasehold
Cash
ROI: 6%
~68 m²
+9 photos

ValuationUndervalued

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

 

 

Square Metres

~68.11 m²
Price/m²£881/m²

Value Estimate

£61,800
BMV3%

 

 

End Value (After Refurb)

£82,238

Uplift in Value

+37%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£15,000

Stamp Duty & Legal Fees

£4,200

Refurb Costs

£26,000

Bridging Loan Interest

£1,575

Total Cash In

£48,525

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£82,238

Mortgage (After Refinance)

£61,678

Mortgage LTV

75%

Cash Released

£16,678

Cash Left In

£31,847

Equity

£20,559

Rent Range

£475 - £1,900

Rent Estimate

£671

Running Costs/mo

£411

Cashflow/mo

£260

Cashflow/yr

£3,118

ROI

6%

Gross Yield

13%

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 
£82.5K09/230.01 mi12, Clifton Terrace, South Shields, Tyne And Wear NE33 4LD2
£72K06/230.04 mi39, West Park Road, South Shields, Tyne And Wear NE33 4LB2
£45K07/210.05 mi91, Collingwood Street, South Shields, Tyne And Wear NE33 4JZ2
£76.5K06/210.05 mi11, Pembroke Terrace, South Shields, Tyne And Wear NE33 4LG2
£90K11/210.09 mi15, Shrewsbury Terrace, South Shields, Tyne And Wear NE33 4LF2
£74K06/230.16 mi18, Crondall Street, South Shields, Tyne And Wear NE33 4BL2
£73K11/210.18 mi41, Oxford Street, South Shields, Tyne And Wear NE33 4BH2
£95K11/210.18 mi50, Oxford Street, South Shields, Tyne And Wear NE33 4BH2
£65K08/210.21 mi241, Dean Road, South Shields, Tyne And Wear NE33 5LD2
£75K06/210.22 mi92, Birchington Avenue, South Shields, Tyne And Wear NE33 4SA2
£85K05/230.22 mi19, Birchington Avenue, South Shields, Tyne And Wear NE33 4TY2
£70K08/210.23 mi386, Dean Road, South Shields, Tyne And Wear NE33 5LL2
£53.5K06/230.23 mi129, Alice Street, South Shields, Tyne And Wear NE33 5PG2
£78K06/210.23 mi22, Newbury Street, South Shields, Tyne And Wear NE33 4UE2
£55K01/210.25 mi26, Northcote Street, South Shields, Tyne And Wear NE33 4BY2
£58.5K07/230.27 mi117, Marlborough Street South, South Shields, Tyne And Wear NE33 4DB2
£70K02/210.28 mi107, Mortimer Road, South Shields, Tyne And Wear NE33 4UH2
£84.5K06/210.28 mi125, Birchington Avenue, South Shields, Tyne And Wear NE33 4SB2
£48K05/210.3 mi91, Northcote Street, South Shields, Tyne And Wear NE33 4DJ2
£80.5K01/230.3 mi83, Canterbury Street, South Shields, Tyne And Wear NE33 4DD2
£110K09/210.31 mi84, Hepscott Terrace, South Shields, Tyne And Wear NE33 4TJ2
£82K01/230.32 mi29, High Shields Close, South Shields, Tyne And Wear NE33 5ES2
£56K12/220.32 mi2, Oxford Avenue, South Shields, Tyne And Wear NE33 4TW2
£97K05/230.33 mi54, Hartington Terrace, South Shields, Tyne And Wear NE33 4DE2
£52.5K09/210.35 mi367, Taylor Street, South Shields, Tyne And Wear NE33 5AW2
£53K10/230.35 mi387, Taylor Street, South Shields, Tyne And Wear NE33 5AW2
£117K12/230.36 mi64, Warwick Road, South Shields, Tyne And Wear NE34 0SQ2
£108K09/210.36 mi40, Warwick Road, South Shields, Tyne And Wear NE34 0SQ2
£68K05/210.37 mi313, Stanhope Road, South Shields, Tyne And Wear NE33 4SS2
£42K11/200.39 mi194, Stanhope Road, South Shields, Tyne And Wear NE33 4ST2
£40K11/200.41 mi31, Bedford Avenue, South Shields, Tyne And Wear NE33 4QJ2
£63K05/220.43 mi13, Cranford Street, South Shields, Tyne And Wear NE34 0QN2
£100K09/230.44 mi64, Ashley Road, South Shields, Tyne And Wear NE34 0PD2
£107K08/230.44 mi92, Ashley Road, South Shields, Tyne And Wear NE34 0PD2
£39.9K07/210.48 mi34, Talbot Road, South Shields, Tyne And Wear NE34 0QJ2
£68K03/210.48 mi12, Thornton Avenue, South Shields, Tyne And Wear NE33 5SZ2
£83K06/230.49 mi16, Frost Mews, South Shields, Tyne And Wear NE33 4AL2
£82K07/220.5 mi10, Crofton Street, South Shields, Tyne And Wear NE34 0QP2
£152K03/210.5 mi6, Kensington Court, South Shields, Tyne And Wear NE33 3DT2
£49K03/210.5 mi96, Imeary Street, South Shields, Tyne And Wear NE33 4EQ2
£83.5K10/230.52 mi57, Gordon Road, South Shields, Tyne And Wear NE34 0QR2
£110K07/210.52 mi36, Cauldwell Place, South Shields, Tyne And Wear NE34 0SA2
£65K12/230.52 mi44, East Moffett Street, South Shields, Tyne And Wear NE33 3PL2
£37.5K11/200.53 mi17, Egerton Road, South Shields, Tyne And Wear NE34 0QH2
£56K03/210.53 mi292, Stanhope Road, South Shields, Tyne And Wear NE33 4QZ2
£107.5K05/210.53 mi326, Stanhope Road, South Shields, Tyne And Wear NE33 4QZ2
£62.3K05/210.57 mi24, Ingham Grange, South Shields, Tyne And Wear NE33 3JJ2
£125K02/240.57 mi34, Ingham Grange, South Shields, Tyne And Wear NE33 3JJ2
£137.5K01/230.58 mi42, Cauldwell Place, South Shields, Tyne And Wear NE34 0SA2
£48K11/200.58 mi157, Talbot Road, South Shields, Tyne And Wear NE34 0RG2

Local Rents

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

RentDateDistanceAddressBeds 
£60005/240.02 mi-2
£55007/240.04 mi-2
£55006/240.04 miCollingwood Street, South Shields, NE332
£55007/240.04 miCollingwood Street, South Shields, NE332
£57503/240.05 mi-2
£70004/250.06 mi-2
£70005/240.1 mi-2
£70007/240.1 mi-2
£65002/240.11 mi-2
£52002/240.17 mi-2
£55007/240.17 mi-2
£65004/240.21 mi-2
£69512/240.21 mi-2
£55005/240.23 mi-2
£65004/250.25 mi-2
£60005/240.28 mi-2
£60004/250.29 mi-2
£60005/240.3 mi-2
£57506/240.3 mi-2
£57505/240.31 mi-2
£55003/250.31 mi-2
£60012/240.31 miRekendyke Mews, South Shields2
£79503/250.32 mi-2
£69507/240.33 miOxford Avenue, South Shields2
£75003/250.34 mi-2
£1,90006/240.38 mi-2
£1,90007/240.38 mi-2
£52003/240.39 mi-2
£68503/250.39 mi-2
£47512/240.4 mi33 Revesby Street South Shields NE33 4SY2
£52005/240.42 mi-2
£60004/250.44 mi-2
£62506/240.44 miAshley Road, South Shields2
£60011/230.45 mi-2
£59901/250.45 mi-2
£60003/250.45 mi-2
£69502/240.45 mi-2
£75003/250.46 mi-2
£52009/230.47 mi-2
£58509/240.47 mi-2
£65006/240.48 miTalbot Road, South Shields, South Tyneside2
£65010/230.48 mi-2
£50010/230.48 mi-2
£59506/240.49 mi-2
£59502/250.49 mi-2
£67505/240.51 mi96 Imeary Street, South Shields2
£64506/240.51 miImeary Street, South Shields, Tyne and Wear, NE332
£62505/240.53 miGordon Road, South Shields, Tyne and Wear, NE342
£69505/240.53 mi-2
£50006/240.56 miWest Harton, South Shields, NE34 0JR2

Local Area Statistics

Population in NE33

27,262

Population in South Shields

79,432

Town centre distance

0.39 miles away

Nearest school

0.30 miles away

Nearest train station

0.54 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+19%

Sales demand

Seller's market

Capital growth (5yrs)

+8%

Property History

Price changed to £60,000

March 16, 2025

Listed for £65,000

January 14, 2025

Description

  • CASH Buyers Only Due To Short Lease +
  • Local Amenities Including Parks, Schools, Bus Links & Metro Stations +
  • Sold With Vacant Possession & No Onward Chain +
  • Ready For Someone To Put Their Own Stamp On +
  • Boasting A Private Yard To Rear +
  • Reference : 459461 +

MAY SUIT CASH BUYERS

This spacious two bedroom upper floor flat on Clifton Terrace, just off West Park Road, is a great investment opportunity. The property offers easy access to local amenities in the Stanhope Road area and is within close proximity to the park. Inside, you'll find an entrance hall leading up to the first floor, where the two bedrooms are positioned at the front. The principal bedroom features a large bay window, filling the room with natural light. The lounge is situated at the rear and connects to a landing that leads to a modern white bathroom suite and stairs down to the yard. The spacious kitchen/breakfast room, also off the first-floor landing, comes with modern units and ample space for appliances. Outside, there's a Town garden at the rear with a shed for additional storage. With vacant possession, this property is sure to attract interest, so early viewing is highly recommended.
ENTRANCE
Via UPVC door into Hallway.
HALLWAY
Stairs to first floor Landing.
FIRST FLOOR LANDING
Loft access, the loft is bordered for storage. Access into the Lounge, Kitchen and both Bedrooms.
LOUNGE 4.65m (15'3) x 3.61m (11'10)
Double glazed window, radiator, laminate flooring, feature fireplace with surround, cornice to ceiling and dado rail.
KITCHEN 3.81m (12'6) x 2.31m (7'7)
Range of wall and base units with contrasting work tops, plumbing for washing machine, space for fridge freezer, space for cooker, radiator, laminate flooring, tiling to walls, fitted breakfast bar, double glazed window and Combi boiler.
BEDROOM ONE 5.18m (17'0) x 4.04m (13'3)
Double glazed bay window, radiator and cornice to ceiling.
BEDROOM TWO 3.43m (11'3) x 2.29m (7'6)
Double glazed window and radiator.
BATHROOM
Panelled bath with shower over and a shower screen, pedestal hand wash basin, low flush wc, radiator, double glazed window and tiling to walls.
EXTERNALLY
Private yard to rear.
Tenure
The property is Leasehold with a term of 99 years from 29th September 1986 subject to an annual ground rent of £15.
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 4LD 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: D

Agent Details

Andrew Craig, South Shields

0191 625 0766

Next Steps?

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