3 Bed Terraced House, Refurb/BRRR, Newcastle upon Tyne, NE15 6JA, £70,000

Armstrong Road, Benwell, Newcastle upon Tyne, Tyne and Wear, NE15 6JA - 14 views - 2 months ago

Sold STC
Auction
Refurb/BRRR
ROI: 11%
~93 m²
+6 photos

ValuationFair Value

Sold Prices£55K - £230K
Sold Prices/m²£631/m² - £2.8K/m²

 

 

Square Metres

~93 m²
Price/m²£753/m²

Value Estimate

£70,700

 

 

End Value (After Refurb)

£103,944

Uplift in Value

+48%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£17,500

Stamp Duty & Legal Fees

£3,300

Refurb Costs

£35,814

Bridging Loan Interest

£1,838

Total Cash In

£60,201

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£103,944

Mortgage (After Refinance)

£77,958

Mortgage LTV

75%

Cash Released

£25,458

Cash Left In

£34,743

Equity

£25,986

Rent Range

£600 - £2,100

Rent Estimate

£1,125

Running Costs/mo

£570

Cashflow/mo

£555

Cashflow/yr

£6,662

ROI

11%

Gross Yield

19%

Local Sold Prices

50 sold prices from £55K to £230K, average is £126.5K. £631/m² to £2.8K/m², average is £1.2K/m².

PriceDateDistanceAddressBeds 
£101K05/210.08 mi306, Armstrong Road, Newcastle Upon Tyne, Tyne And Wear NE15 6JB3
£110K06/210.09 mi30, Benwell Grange Avenue, Newcastle Upon Tyne, Tyne And Wear NE15 6RP3
£77K10/200.09 mi70, Bilbrough Gardens, Newcastle Upon Tyne, Tyne And Wear NE4 8YA3
£112.3K11/200.1 mi27, Bishops Road, Newcastle Upon Tyne, Tyne And Wear NE15 6RY3
£86K12/200.13 mi35, Benwell Grange Terrace, Newcastle Upon Tyne, Tyne And Wear NE15 6RL3
£159K03/230.13 mi22, Benwell Grange Terrace, Newcastle Upon Tyne, Tyne And Wear NE15 6RL3
£131K02/230.13 mi25, Benwell Grange Terrace, Newcastle Upon Tyne, Tyne And Wear NE15 6RL3
£80K09/230.13 mi308, Armstrong Road, Newcastle Upon Tyne, Tyne And Wear NE15 6JB3
£137K03/230.18 mi28, Hodgkin Park Road, Benwell, Newcastle Upon Tyne, Tyne And Wear NE15 6RH3
£110K09/230.19 mi24, Hodgkin Park Road, Benwell, Newcastle Upon Tyne, Tyne And Wear NE15 6RH3
£105K11/200.2 mi10, Hodgkin Park Crescent, Newcastle Upon Tyne, Tyne And Wear NE15 6RQ3
£156K06/240.2 mi28, Hodgkin Park Crescent, Newcastle Upon Tyne, Tyne And Wear NE15 6RQ3
£133K02/230.3 mi120 - 122, Condercum Road, Newcastle Upon Tyne, Tyne And Wear NE4 9JE3
£215K08/220.36 mi50, Bellshiel Grove, Newcastle Upon Tyne, Tyne And Wear NE15 6BG3
£135.5K08/230.36 mi30, Pendower Way, Newcastle Upon Tyne, Tyne And Wear NE15 6SP3
£135K03/240.38 mi19, Gill Street, Newcastle Upon Tyne, Tyne And Wear NE4 8BH3
£73K11/200.39 mi16, Ellesmere Road, Newcastle Upon Tyne, Tyne And Wear NE4 8TS3
£125K07/230.39 mi208, Condercum Road, Newcastle Upon Tyne, Tyne And Wear NE4 9JD3
£85K02/210.39 mi23, Rushie Avenue, Newcastle Upon Tyne, Tyne And Wear NE15 6LU3
£108.5K02/210.39 mi9, Teindland Close, Newcastle Upon Tyne, Tyne And Wear NE4 8HE3
£108.5K02/210.39 mi9, Teindland Close, Newcastle Upon Tyne, Tyne And Wear NE4 8HE3
£130K07/240.39 mi7, Teindland Close, Newcastle Upon Tyne, Tyne And Wear NE4 8HE3
£95K03/210.41 mi81, Canning Street, Newcastle Upon Tyne, Tyne And Wear NE4 8UH3
£153.6K12/210.42 mi41, Weidner Road, Newcastle Upon Tyne, Tyne And Wear NE15 6QR3
£150K10/230.42 mi43, Broomridge Avenue, Newcastle Upon Tyne, Tyne And Wear NE15 6QN3
£150K10/230.42 mi43, Broomridge Avenue, Newcastle Upon Tyne, Tyne And Wear NE15 6QN3
£55K02/210.43 mi63, Ladykirk Road, Newcastle Upon Tyne, Tyne And Wear NE4 8AH3
£77K05/210.43 mi50, Ladykirk Road, Newcastle Upon Tyne, Tyne And Wear NE4 8AH3
£60K05/210.43 mi45, Ladykirk Road, Newcastle Upon Tyne, Tyne And Wear NE4 8AH3
£156.5K11/210.44 mi65, Featherwood Avenue, Newcastle Upon Tyne, Tyne And Wear NE15 6BW3
£135K12/230.45 mi35, Westholme Gardens, Newcastle Upon Tyne, Tyne And Wear NE15 6QJ3
£125K07/230.47 mi40, Springhill Gardens, Newcastle Upon Tyne, Tyne And Wear NE15 6QS3
£85K07/210.47 mi75, Fairholm Road, Newcastle Upon Tyne, Tyne And Wear NE4 8AT3
£145K06/220.48 mi11, Coventry Gardens, Newcastle Upon Tyne, Tyne And Wear NE4 8DX3
£129K02/230.48 mi89, Normount Road, Newcastle Upon Tyne, Tyne And Wear NE4 8SH3
£126K09/210.48 mi101, Normount Road, Newcastle Upon Tyne, Tyne And Wear NE4 8SH3
£137K06/230.48 mi27, Normount Road, Newcastle Upon Tyne, Tyne And Wear NE4 8SH3
£105K07/210.49 mi21, Bertram Crescent, Newcastle Upon Tyne, Tyne And Wear NE15 6PX3
£175K02/230.5 mi32, Clovelly Avenue, Newcastle Upon Tyne, Tyne And Wear NE4 8SE3
£85K08/210.53 mi7, Dipton Avenue, Newcastle Upon Tyne, Tyne And Wear NE4 8DT3
£159.9K09/230.54 mi42, Cliftonville Avenue, Newcastle Upon Tyne, Tyne And Wear NE4 8RT3
£127K02/240.54 mi46, Cliftonville Avenue, Newcastle Upon Tyne, Tyne And Wear NE4 8RT3
£155K06/210.54 mi13, Cliftonville Avenue, Newcastle Upon Tyne, Tyne And Wear NE4 8RT3
£100K03/230.54 mi17, Isabella Close, Newcastle Upon Tyne, Tyne And Wear NE4 8LU3
£210K07/220.55 mi21, Cliftonville Avenue, Newcastle Upon Tyne, Tyne And Wear NE4 8RT3
£171K10/230.55 mi29, Eastgate Gardens, Newcastle Upon Tyne, Tyne And Wear NE4 8DR3
£161K06/230.55 mi31, Eastgate Gardens, Newcastle Upon Tyne, Tyne And Wear NE4 8DR3
£110K01/210.56 mi207, Hampstead Road, Newcastle Upon Tyne, Tyne And Wear NE4 8TP3
£75K11/210.56 mi204 - 206, Hampstead Road, Newcastle Upon Tyne, Tyne And Wear NE4 8TP3
£230K10/220.57 mi66, Shipley Avenue, Newcastle Upon Tyne, Tyne And Wear NE4 9RA3

Local Rents

18 rents from £600/mo to £2.1K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£60006/240.14 miJoan Street, Benwell, Newcastle Upon Tyne3
£1,30006/240.2 mi-3
£1,30006/240.2 miEthel Street, Newcastle Upon Tyne, NE43
£85002/250.4 mi-3
£85002/250.4 mi-3
£1,10005/240.4 miChester Pike, The Rise, Newcastle upon Tyne, NE153
£1,30012/240.43 miFeatherwood Avenue, Newcastle Upon Tyne3
£65011/240.44 mi-3
£70012/240.44 mi-3
£95002/250.51 mi-3
£1,35012/240.52 mi-3
£1,35007/240.52 mi-3
£1,10002/250.54 mi-3
£2,10005/240.55 mi-3
£1,25006/240.55 miFeatherwood Avenue, Newcastle Upon Tyne, Tyne and Wear, NE153
£1,25006/240.55 miFeatherwood Avenue, Newcastle Upon Tyne, Tyne and Wear, NE153
£95006/240.57 miWest Road, Westerhope, Newcastle upon Tyne, NE43
£1,10005/240.59 miChesterholm Avenue, The Rise, Newcastle Upon Tyne, Tyne and Wear, NE153

Local Area Statistics

Population in NE15

32,552

Population in Newcastle upon Tyne

381,037

Town centre distance

2.71 miles away

Nearest school

0.40 miles away

Nearest train station

0.72 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+22%

Sales demand

Seller's market

Capital growth (5yrs)

+11%

Property History

Listed for £70,000

January 20, 2025

Floor Plans

Description

  • Three Bedrooms Terraced House +
  • Popular Location +
  • Two Reception Rooms +
  • Vieiwng Recommended +

FOR SALE BY ONLINE UNCONDITIONAL AUCTION: THREE-BEDROOM TERRACED HOUSE WITH EXCELLENT POTENTIAL (Terms and conditions apply)

This three-bedroom terraced property presents a fantastic opportunity for investors or buyers looking to add their personal touch. Featuring two spacious reception rooms, this home offers plenty of living space and versatility.

Conveniently located, the property benefits from excellent transport links and is within walking distance of local shops, schools, and amenities, making it an ideal location for families or commuters.

While the house requires updating, it holds significant potential for renovation and value increase, making it an attractive investment.

Don’t miss this chance to create your ideal home or expand your property portfolio!

Council Tax Band: A
Tenure: Freehold

Agent Details

Pattinson Estate Agents, West Road

0191 625 0804

Next Steps?

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