2 Bed Semi-Detached House, Refurb/BRRR, Newcastle upon Tyne, NE12 9HL, £100,000

Palmersville, Palmersville, Newcastle upon Tyne, NE12 9HL - 3 views - 2 months ago

Auction
Refurb/BRRR
ROI: 10%
~68 m²
+8 photos

ValuationFair Value

Sold Prices£59K - £270K
Sold Prices/m²£868/m² - £4.6K/m²

 

 

Square Metres

~68.11 m²
Price/m²£1.5K/m²

Value Estimate

£102,000

 

 

End Value (After Refurb)

£128,741

Uplift in Value

+29%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£25,000

Stamp Duty & Legal Fees

£4,200

Refurb Costs

£26,294

Bridging Loan Interest

£2,625

Total Cash In

£59,869

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£128,741

Mortgage (After Refinance)

£96,556

Mortgage LTV

75%

Cash Released

£21,556

Cash Left In

£38,313

Equity

£32,185

Rent Range

£650 - £1,900

Rent Estimate

£1,137

Running Costs/mo

£650

Cashflow/mo

£487

Cashflow/yr

£5,847

ROI

10%

Gross Yield

14%

Local Sold Prices

52 sold prices from £59K to £270K, average is £137K. £868/m² to £4.6K/m², average is £2K/m².

PriceDateDistanceAddressBeds 
£135K08/230.12 mi24, Feetham Avenue, Newcastle Upon Tyne, Tyne And Wear NE12 9QL2
£165K02/240.16 mi9, Anne Drive, Newcastle Upon Tyne, Tyne And Wear NE12 9QR2
£165K02/240.16 mi9, Anne Drive, Newcastle Upon Tyne, Tyne And Wear NE12 9QR2
£135K06/230.18 mi25, Roseberry Grange, Newcastle Upon Tyne, Tyne And Wear NE12 9DD2
£148K01/230.2 mi14, Crossley Terrace, Palmersville, Newcastle Upon Tyne, Tyne And Wear NE12 9EP2
£111.5K11/200.21 mi12, Bamburgh Road, Palmersville, Newcastle Upon Tyne, Tyne And Wear NE12 9EX2
£130K02/210.21 mi11, Crossley Terrace, Palmersville, Newcastle Upon Tyne, Tyne And Wear NE12 9EP2
£270K05/230.29 mi3, Palmers Green, Newcastle Upon Tyne, Tyne And Wear NE12 9HF2
£130K03/210.3 mi12, Cresswell Avenue, Newcastle Upon Tyne, Tyne And Wear NE12 9DT2
£126.5K07/230.35 mi6, Rocket Way, Forest Hall, Newcastle Upon Tyne, Tyne And Wear NE12 9RL2
£137K04/210.35 mi27, Felton Drive, Newcastle Upon Tyne, Tyne And Wear NE12 9ED2
£160K07/230.35 mi14, Felton Drive, Newcastle Upon Tyne, Tyne And Wear NE12 9ED2
£160K07/230.35 mi36, Felton Drive, Newcastle Upon Tyne, Tyne And Wear NE12 9ED2
£177.5K05/240.36 mi30, The Wynd, Forest Hall, Newcastle Upon Tyne, Tyne And Wear NE12 9DB2
£131K07/210.37 mi87, Mead Way, Newcastle Upon Tyne, Tyne And Wear NE12 9RE2
£145K12/200.37 mi68, Woodlands Grange, Forest Hall, Newcastle Upon Tyne, Tyne And Wear NE12 9DF2
£145K10/210.39 mi71, Cresswell Avenue, Newcastle Upon Tyne, Tyne And Wear NE12 9DU2
£141K10/230.39 mi69, Cresswell Avenue, Newcastle Upon Tyne, Tyne And Wear NE12 9DU2
£145K06/240.39 mi43, Cresswell Avenue, Newcastle Upon Tyne, Tyne And Wear NE12 9DU2
£117K02/230.44 mi32, Mead Court, Forest Hall, Newcastle Upon Tyne, Tyne And Wear NE12 9RF2
£170K11/200.47 mi9, Meadway Drive, Newcastle Upon Tyne, Tyne And Wear NE12 9RQ2
£246K04/230.47 mi32, Meadway Drive, Newcastle Upon Tyne, Tyne And Wear NE12 9RQ2
£205K12/230.47 mi30, Meadway Drive, Newcastle Upon Tyne, Tyne And Wear NE12 9RQ2
£120.5K07/210.5 mi44, Mead Way, Newcastle Upon Tyne, Tyne And Wear NE12 9RB2
£156.5K02/210.51 mi2, Crescent Way, Newcastle Upon Tyne, Tyne And Wear NE12 9AQ2
£160K08/240.54 mi99, Granville Drive, Forest Hall, Newcastle Upon Tyne, Tyne And Wear NE12 9LE2
£120K02/210.54 mi114, Granville Drive, Forest Hall, Newcastle Upon Tyne, Tyne And Wear NE12 9LE2
£155.5K03/230.54 mi82, Granville Drive, Forest Hall, Newcastle Upon Tyne, Tyne And Wear NE12 9LE2
£124.5K02/240.54 mi80, Granville Drive, Forest Hall, Newcastle Upon Tyne, Tyne And Wear NE12 9LE2
£138K05/210.54 mi33, Ivy Road, Forest Hall, Newcastle Upon Tyne, Tyne And Wear NE12 9AP2
£130K09/210.54 mi53, Ivy Road, Forest Hall, Newcastle Upon Tyne, Tyne And Wear NE12 9AP2
£135K09/210.56 mi32, Mead Way, Newcastle Upon Tyne, Tyne And Wear NE12 9RB2
£125K02/210.57 mi10, Vulcan Terrace, Newcastle Upon Tyne, Tyne And Wear NE12 9AN2
£127K09/230.57 mi7, Vulcan Terrace, Newcastle Upon Tyne, Tyne And Wear NE12 9AN2
£205K09/230.59 mi17, East Forest Hall Road, Newcastle Upon Tyne, Tyne And Wear NE12 9AU2
£210K02/240.59 mi15, East Forest Hall Road, Newcastle Upon Tyne, Tyne And Wear NE12 9AU2
£210K02/240.59 mi15, East Forest Hall Road, Newcastle Upon Tyne, Tyne And Wear NE12 9AU2
£130K10/200.6 mi25, Hillary Avenue, Newcastle Upon Tyne, Tyne And Wear NE12 9LS2
£130K04/210.6 mi13, Hillary Avenue, Newcastle Upon Tyne, Tyne And Wear NE12 9LS2
£115K05/230.6 mi11, Hillary Avenue, Newcastle Upon Tyne, Tyne And Wear NE12 9LS2
£137K05/230.61 mi7, Ashwood Close, Forest Hall, Newcastle Upon Tyne, Tyne And Wear NE12 9PZ2
£260K01/210.61 mi10, Hazelwood, Killingworth, Newcastle Upon Tyne, Tyne And Wear NE12 6FF2
£125K12/230.62 mi33, Forest Hall Road, Newcastle Upon Tyne, Tyne And Wear NE12 7AX2
£150K12/220.64 mi26, Garden Croft, Newcastle Upon Tyne, Tyne And Wear NE12 9LT2
£230K04/240.64 mi6, Dovecote Road, Newcastle Upon Tyne, Tyne And Wear NE12 9LL2
£130K04/210.66 mi10, St Cuthberts Road, Holystone, Newcastle Upon Tyne, Tyne And Wear NE27 0DD2
£128K03/230.67 mi5, St Aidans Avenue, Newcastle Upon Tyne, Tyne And Wear NE12 9SX2
£131K08/240.68 mi13, Oswin Road, Newcastle Upon Tyne, Tyne And Wear NE12 9BH2
£95K12/200.68 mi21, Devonshire Drive, Holystone, Newcastle Upon Tyne, Tyne And Wear NE27 0DF2
£130.3K06/210.68 mi6, Oswin Road, Newcastle Upon Tyne, Tyne And Wear NE12 9BH2
£59K12/220.69 mi27, Oswin Road, Newcastle Upon Tyne, Tyne And Wear NE12 9BH2
£140K09/210.72 mi10, Devonshire Drive, Holystone, Newcastle Upon Tyne, Tyne And Wear NE27 0DG2

Local Rents

10 rents from £650/mo to £1.9K/mo, average is £750/mo.

RentDateDistanceAddressBeds 
£69503/240.11 mi-2
£69505/240.11 miBamford Terrace, Newcastle Upon Tyne, NE122
£72505/240.18 miCrossley Terrace, Palmersville2
£77507/240.18 miCrossley Terrace, Palmersville2
£72501/240.22 mi-2
£65012/240.33 miBoston Court, Palmersville, 2
£1,90005/240.48 mi-2
£1,80008/240.48 mi-2
£1,80001/250.48 mi-2
£1,75002/250.48 mi-2

Local Area Statistics

Population in NE12

34,654

Population in Newcastle upon Tyne

381,037

Town centre distance

4.61 miles away

Nearest school

0.40 miles away

Nearest train station

0.16 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+24%

Sales demand

Seller's market

Capital growth (5yrs)

+9%

Property History

Listed for £100,000

January 17, 2025

Floor Plans

Description

  • Great Location +
  • Private Front and Rear Garden +
  • Two Bedrooms +
  • Downstairs Bathroom +
  • Blank Canvas +

Conditional Auction (option 2)   Online bidding will be opening 29/1/2025 at 9:00 Disclaimer One  This property is to be sold via conditional auction (option 2). The successful buyer will need to pay a non-refundable deposit of £3,000.00, this deposit will form part of the purchase price of the property. After the deposit has been taken the buyer will then have 28 days to exchange contracts. After the exchange of contracts this purchase must complete no later than 14 days from this date.  Disclaimer Two  Every auction property comes with a guide price and a reserve price. The guide price sets the starting point for bidding, while the reserve price represents the minimum price that the seller is willing to accept at auction. The auctioneer is not allowed to sell the property below this reserve price. The reserve price is not revealed to the public and is kept confidential between the seller and the auctioneer. It may be up to 10% higher than the guide price.  Please note that both the guide price and the reserve price are subject to potential changes leading up to and including the day of the auction.  Disclaimer Three  At your request we can refer you to a Solicitor from our panel. It is your decision whether you choose to deal with them, should you decide to use them you should know that we would receive a referral fee of £180 including Vat from them for the recommendation.  Reservation Fee  This property is sold subject to a non-refundable reservation fee of £2,400.00 inc VAT (£2,000.00 plus VAT) The reservation fee does not form part of the purchase price.  Legal Pack  A legal pack will be available to download before the auctions end date.We strongly recommend all buyers to familiarise themselves with the legal pack prior to bidding.  Registration   To register to bid for this property please copy the link below into your browser.  northwoodauctionne.com  Particulars  We endeavour to make our sales particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and none is to be relied upon as statements of representation or fact. Any services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency is given. All measurements have been taken as a guide to prospective buyers only, and are not precise. If you require clarification or further information on any points, please contact us, especially if you are travelling some distance to view. Fixtures and fittings other than those mentioned are to be agreed with the seller by separate negotiation.  Located in the popular area of Palmersville, this two-bedroom mid-terraced home offers great potential for those looking to put their own stamp on a property. While in need of renovation, the house boasts a functional layout and ample space, perfect for creating a modern and comfortable living environment. Upon entry, you are greeted by a small passageway with stairs leading to the first floor. To the left, a door opens into a generously sized living room, bathed in natural light from dual windows that provide an inviting and airy atmosphere. Moving through, the living room leads directly to the kitchen, which offers ample countertop space and room for a compact dining area—ideal for everyday meals. Adjacent to the kitchen, a small passageway provides potential for a utility space, adding practical convenience to the home. This passageway also leads to the rear garden, where there is space for car parking. Completing the ground floor, a family bathroom is located off the utility space, equipped with an in-bath shower. Upstairs, there are two well-sized bedrooms, each with enough space to comfortably fit a double bed and featuring windows that allow for plenty of natural light. An additional WC on the upper floor provides extra convenience. With refurbishment, this property could be transformed into a charming and modern home in a desirable location. It is an excellent opportunity for investors or first-time buyers eager to create a home to their taste and specifications. For more information or to arrange a viewing please contact our Benton office. Freehold Council Tax Band 2024-2025 - A -  approx £1480.32 per annum. EPC Rating - D We endeavour to make our sales particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and none is to be relied upon as statements of representation or fact. Any services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency is given. All measurements have been taken as a guide to prospective buyers only, and are not precise. If you require clarification or further information on any points, please contact us, especially if you are travelling some distance to view. Fixtures and fittings other than those mentioned are to be agreed with the seller by separate negotiation. EPC rating: D. Tenure: Freehold,

Agent Details

Northwood, Benton

0191 266 4455

Next Steps?

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