2 Bed Flat, Single Let, Wallsend, NE28 6BU, £65,000

George Road, Wallsend, Tyne and Wear, NE28 6BU - 3 months ago

Leasehold
Auction
BTL
ROI: 16%
~65 m²
+13 photos

ValuationUndervalued

Sold Prices£57.5K - £131.3K
Sold Prices/m²£917/m² - £1.9K/m²

 

 

Square Metres

~65 m²
Price/m²£1K/m²

Value Estimate

£79,950
BMV23%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£16,250

Stamp Duty & Legal Fees

£4,450

Total Cash In

£20,700

 

 

Cash Out

 

Rent Range

£595 - £825

Rent Estimate

£621

Running Costs/mo

£347

Cashflow/mo

£274

Cashflow/yr

£3,284

ROI

16%

Gross Yield

11%

Local Sold Prices

50 sold prices from £57.5K to £131.3K, average is £83.8K. £917/m² to £1.9K/m², average is £1.4K/m².

PriceDateDistanceAddressBeds 
£60K05/210.02 mi37, Philiphaugh, Wallsend, Tyne And Wear NE28 6BX2
£75K08/210.21 mi38, Sedley Road, Wallsend, Tyne And Wear NE28 6AU2
£90K03/240.26 mi28, Tiberius Close, Wallsend, Tyne And Wear NE28 6RH2
£85K09/230.26 mi28, Praetorian Drive, Wallsend, Tyne And Wear NE28 6RQ2
£129.9K03/210.29 mi133, The Avenue, Wallsend, Tyne And Wear NE28 6SD2
£90K11/220.37 mi19, Wyedale Way, Newcastle Upon Tyne, Tyne And Wear NE6 4UA2
£96K06/230.42 mi53, Lynn Road, Wallsend, Tyne And Wear NE28 8QA2
£87K06/210.44 mi1b, St Aidans Road, Wallsend, Tyne And Wear NE28 8QG2
£113K01/230.45 mi52, Windermere Close, Wallsend, Tyne And Wear NE28 8QH2
£99K06/210.47 mi35, Windermere Close, Wallsend, Tyne And Wear NE28 8QH2
£107K03/210.47 mi51, Windermere Close, Wallsend, Tyne And Wear NE28 8QH2
£92K09/230.48 mi39, Weardale Avenue, Walker, Newcastle Upon Tyne, Tyne And Wear NE6 4LE2
£69K03/210.48 mi69, Weardale Avenue, Walker, Newcastle Upon Tyne, Tyne And Wear NE6 4LE2
£78K12/220.49 mi38, John Street, Wallsend, Tyne And Wear NE28 8QX2
£103K07/210.49 mi8, The Riverside, Hebburn, Tyne And Wear NE31 1BG2
£75K09/230.49 mi2, The Riverside, Hebburn, Tyne And Wear NE31 1BG2
£95K08/220.5 mi7, The Riverside, Hebburn, Tyne And Wear NE31 1BG2
£69.5K07/210.51 mi30, David Street, Wallsend, Tyne And Wear NE28 8RA2
£82.5K07/230.51 mi25, North Road, Wallsend, Tyne And Wear NE28 8LF2
£76K08/230.52 mi87, Eastbourne Avenue, Newcastle Upon Tyne, Tyne And Wear NE6 4DT2
£75.5K03/240.52 mi54, Eastbourne Avenue, Newcastle Upon Tyne, Tyne And Wear NE6 4DT2
£87.5K10/220.53 mi45, Woodbine Avenue, Wallsend, Tyne And Wear NE28 8HB2
£57.5K02/210.53 mi17, Lisle Street, Wallsend, Tyne And Wear NE28 8QY2
£60.8K02/230.54 mi43, Park Road, Wallsend, Tyne And Wear NE28 6QZ2
£95K03/210.55 mi4, Springwood, Hebburn, Tyne And Wear NE31 1DA2
£95K03/210.55 mi4, Springwood, Hebburn, Tyne And Wear NE31 1DA2
£85K08/230.55 mi1, Springwood, Hebburn, Tyne And Wear NE31 1DA2
£90K07/230.55 mi88, Eastbourne Gardens, Newcastle Upon Tyne, Tyne And Wear NE6 4DU2
£77K11/220.56 mi119, Westbourne Avenue, Walkergate, Newcastle Upon Tyne, Tyne And Wear NE6 4HP2
£131.3K09/230.56 mi204, Station Road, Wallsend, Tyne And Wear NE28 8RD2
£85K02/210.56 mi248, Station Road, Wallsend, Tyne And Wear NE28 8RD2
£71K07/230.58 mi106, Park Road, Wallsend, Tyne And Wear NE28 7QR2
£69K12/230.6 mi159, Vine Street, Wallsend, Tyne And Wear NE28 6JB2
£105K08/230.6 mi86, North Road, Wallsend, Tyne And Wear NE28 8RJ2
£73K08/210.6 mi94, North Road, Wallsend, Tyne And Wear NE28 8RJ2
£73K12/220.6 mi79, Eastbourne Avenue, Newcastle Upon Tyne, Tyne And Wear NE6 4DT2
£75K11/220.6 mi76, Laurel Street, Wallsend, Tyne And Wear NE28 6PQ2
£70K03/240.61 mi18, Borrowdale Avenue, Newcastle Upon Tyne, Tyne And Wear NE6 4HL2
£72K03/210.61 mi33, Coronation Street, Wallsend, Tyne And Wear NE28 7LU2
£87K10/230.62 mi6, Keebledale Avenue, Newcastle Upon Tyne, Tyne And Wear NE6 4HS2
£59K01/210.62 mi7, Clifton Avenue, Wallsend, Tyne And Wear NE28 8RN2
£80K04/230.63 mi53, Ann Street, Hebburn, Tyne And Wear NE31 1DP2
£100K05/230.63 mi51, Ann Street, Hebburn, Tyne And Wear NE31 1DP2
£95.5K12/220.64 mi147, North Road, Wallsend, Tyne And Wear NE28 8RH2
£95K03/230.64 mi123, North Road, Wallsend, Tyne And Wear NE28 8RH2
£93K11/230.64 mi121, North Road, Wallsend, Tyne And Wear NE28 8RH2
£66K03/240.64 mi40, Albert Avenue, Wallsend, Tyne And Wear NE28 8RZ2
£60.5K01/230.65 mi733, Welbeck Road, Newcastle Upon Tyne, Tyne And Wear NE6 4JN2
£78K05/240.66 mi717, Welbeck Road, Newcastle Upon Tyne, Tyne And Wear NE6 4JN2
£75K12/230.67 mi8, Marondale Avenue, Newcastle Upon Tyne, Tyne And Wear NE6 4HJ2

Local Rents

19 rents from £595/mo to £825/mo, average is £750/mo.

RentDateDistanceAddressBeds 
£75012/240.26 miFossway, Byker, Newcastle upon Tyne, NE62
£59505/240.26 mi-2
£80005/240.36 mi-2
£82502/250.36 mi-2
£62505/240.39 miHugh Street, Wallsend, NE282
£79505/240.39 miCourtfield Road, Newcastle upon Tyne, Tyne and Wear, NE62
£62002/250.41 mi-2
£79507/240.41 mi-2
£79507/240.41 miWallsend, Tyne And Wear, NE282
£79505/240.45 miNidsdale Avenue, Newcastle upon Tyne, Tyne and Wear, NE62
£60010/230.46 mi-2
£75005/240.48 miWeardale Avenue, Walker, Newcastle upon Tyne, Tyne and Wear, NE6 4LE2
£82511/240.5 mi-2
£82503/250.5 mi-2
£72007/240.54 mi-2
£80005/240.59 mi-2
£75004/240.59 mi-2
£72512/240.6 mi-2
£65004/250.6 mi-2

Local Area Statistics

Population in NE28

44,519

Population in Wallsend

44,520

Town centre distance

1.45 miles away

Nearest school

0.20 miles away

Nearest train station

0.47 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+43%

Sales demand

Seller's market

Capital growth (5yrs)

+26%

Property History

Price changed to £65,000

March 12, 2025

Listed for £75,000

January 15, 2025

Floor Plans

Description

  • Courtyard Faces South-West +
  • Spacious and Well Presented +
  • First Floor Apartment +
  • Close to Metro Station +

For sale via on-line Auction

Pattinsons is delighted to bring to the market this well presented 2 bedroom first floor flat in close proximity to Wallsend high street and just one block away from Wallsend Metro station which has been used as an Air BnB.

Wallsend has had a long and interesting history from the Roman times to present day. In Roman times, Wallsend was the site of the Roman fort of Segedunum which protected the eastern end of Hadrian's Wall the site of which can be visited today which has reconstructed bath and roman walls and a museum. The first industry in Wallsend was coal mining. The Wallsend Colliery consisted of seven pits which were active between 1778 and 1935 which employed 2,183 people at its height. Its most prominent manager John Buddle helped develop the Davy Lamp. Wallsend shipbuilding industry was incredibly successful and home to Swan Hunter & Wigham Richardson, probably best known for building liner the RMS Mauretania liner which held the Blue Riband for 22 years, for the fastest crossing of the Atlantic. Other famous ships included the RMS Carpathia which rescued the survivors from the Titanic tragedy in 1912 was built here along with various World War II ships including HMS Sheffield and HMS Victorious which took part in the sinking of the Bismarck.Following the closing of the shipyard, the former Wallsend Slipway & Engineering Company Shipyard continues to operate, constructing offshore oil rigs and as a TV studio: productions from there include the hit ITV drama Vera starring Brenda Blethyn and Inspector George Gently. Wallsend fame did not stop there and became home 'The Wallsend Boys Club', which produced many famous football players such as Alan Shearer, Lee Clark, Steve Watson, Peter Beardsley, Robbie Elliott, Mick Tait and Michael Carrick and the town is also hometown and birthplace to internationally successful musician Sting.

Local amenities include the Wallsend high street, primary and secondary schools, the new Hadrian leisure centre, and 2 supermarkets the Asda (within easy walking distance from the house) and Aldi and the Segedunum Roman Fort Museum.

In terms of public transport, Wallsend has its own Metro station stop which connects to central Station where frequent direct trains run to London Kings Cross and Edinburgh. Wallsend is also in close proximity to A19 which connects to the A1 north of Newcastle and south via the Tyne Tunnel. Tynemouth the nearest coastal town is just a short drive which has a range of water sporting activities available, or just for those that love beach walks.

The property is located on the first floor and is well presented and spacious and has been well maintained throughout. It has been used and managed as a successful Air BnB for the last few years, but would make an ideal first time buy or investment property. There is a good degree of accommodation on offer briefly comprising:-entrance hallway and stairs and first floor landing; lounge; kitchen; bathroom; stairs to rear yard; and 2 good sized bedrooms. Externally, the yard has space for outdoor seating and enjoys from a south-westerly aspect. The property also benefits from gas central heating and uVPC double glazing throughout.

The property has a Tyneside lease which is common for properties of this type. For further information or to request a viewing please contact Pattinsons Wallsend on

Council Tax Band: A
Tenure: Leasehold
Length Of Lease: 982

Agent Details

Pattinson Estate Agents, Wallsend

0191 607 6820

Next Steps?

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