3 Bed Semi-Detached House, Cash/Bridging Only, Newcastle upon Tyne, NE15 6RR, £170,000

Benwell Lane, Newcastle upon Tyne, NE15 6RR - 2 views - 2 months ago

Sold STC
Cash
ROI: 6%
~93 m²
+14 photos

ValuationOvervalued











Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£42,500

Stamp Duty & Legal Fees

£6,300

Refurb Costs

£35,814

Bridging Loan Interest

£4,463

Total Cash In

£90,826

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£133,500

Mortgage (After Refinance)

£100,125

Mortgage LTV

75%

Cash Left In

£90,826

Equity

£33,375

Rent Range

£600 - £3,600

Rent Estimate

£1,118

Running Costs/mo

£661

Cashflow/mo

£457

Cashflow/yr

£5,487

ROI

6%

Gross Yield

8%













Local Rents

23 rents from £600/mo to £3.6K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£60006/240.21 miJoan Street, Benwell, Newcastle Upon Tyne3
£1,30006/240.28 mi-3
£1,30006/240.28 miEthel Street, Newcastle Upon Tyne, NE43
£85002/250.35 mi-3
£85002/250.35 mi-3
£95002/250.36 mi-3
£2,10005/240.4 mi-3
£95003/250.4 mi-3
£95006/240.42 miWest Road, Westerhope, Newcastle upon Tyne, NE43
£65011/240.45 mi-3
£70012/240.45 mi-3
£1,30012/240.46 miFeatherwood Avenue, Newcastle Upon Tyne3
£1,10005/240.47 miChester Pike, The Rise, Newcastle upon Tyne, NE153
£1,10002/250.48 mi-3
£1,35012/240.53 mi-3
£1,35007/240.53 mi-3
£1,15007/240.54 miMiddleton Avenue, Newcastle Upon Tyne3
£1,25006/240.58 miFeatherwood Avenue, Newcastle Upon Tyne, Tyne and Wear, NE153
£1,25006/240.58 miFeatherwood Avenue, Newcastle Upon Tyne, Tyne and Wear, NE153
£3,60003/250.58 mi-3
£1,15005/240.61 mi-3
£1,15006/240.61 mi-3
£89507/240.61 mi-3

Local Area Statistics

Population in NE15

32,552

Population in Newcastle upon Tyne

381,037

Town centre distance

2.52 miles away

Nearest school

0.20 miles away

Nearest train station

0.91 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+22%

Sales demand

Seller's market

Capital growth (5yrs)

+11%

Property History

Listed for £170,000

January 21, 2025

Floor Plans

Description

  • Double Glazing +
  • Garage & Drive +
  • Gas Central Heating +
  • Many Local Amenities +
  • Modern Tasteful Décor +
  • Offered With No Onward Chain +
  • Open Plan Kitchen Diner +
  • Recently Renovated +
  • Separate Utility Room +
  • Three Generous Bedrooms +

Jan Mitchell Properties are delighted to bring to the market this stunning, recently renovated, three bedroom period semi detached family home, situated on a superb elevated plot with garage ad drive, offered with No Onward Chain.

Internally the property has been tastefully renovated by the current owner and is a real credit to them, briefly comprising:- Entrance hall, lounge with bay window, stunning open plan kitchen diner with pantry, integrated oven, hob, dishwasher and breakfast peninsula, which makes a perfect space for entertaining and then completing the floor is a large separate utility with direct access into the garage and out into the rear garden.

To the first floor off the landing there are three generous bedrooms with master benefitting from bay window and then third from in built storage and then a beautiful on trend three piece bathroom with marble effect tiles and black fittings.

Externally there is a garden and drive to the front leading to the attached garage and then to the rear a private enclosed tiered garden with shed.

With new double glazing, gas central heating and a full rewire, this property should appeal to a range of buyers and really has to be viewed to appreciate the standard and value of accommodation on offer.

The location benefits from easy access to a wealth of local amenities including schools, shops, supermarkets and leisure facilities with further amenities easily accessed via regular public transport links and the nearby A1 motorway in Newcastle city centre.

Measurements
Lounge - 3.77m x 3.62m (4.25m into bay)
Kitchen Diner - 5.86 x 4.25m
Utility Room - 4.47m x 2.56m
Garage - 4.64m x 2.61m
Bedroom One - 3.34m x 3.66m (4.49m into bay)
Bedroom Two - 4.27m x 3.38m
Bedroom Three - 2.44m x 2.69m
Bathroom - 2.45m x 4.24m

IMPORTANT NOTE TO PURCHASERS
We endeavour to make our property details accurate, however, they do not constitute or form part of an offer or any contract and are not to relied upon as statements of representation or fact. Any services, systems and appliances listed in the details have not been tested by us and no guarantee is given to their operating ability or efficiency. All the measurements and floor plans have been taken as a guide to prospective purchasers and are not to be relied upon. Please be advised that some of the information may be awaiting vendor approval. If you require clarification of further information on any points please contact us direct.

MAKING AN OFFER Please note that all offers will require financial verification including mortgage agreement in principle, proof of deposit funds, proof of available cash and full chain details including selling agents and solicitors down the chain. Under New Money Laundering Regulations we require proof of identification from all buyers before acceptance letters are sent and solicitors can be instructed.

Tenure - We are not able to verify the tenure of the property as it is not always possible to see sight of the relevant documentation prior to marketing. Prospective purchasers must make further enquiries with their legal adviser

Council Tax Band: A (Newcastle City Council)
Tenure: Freehold

Agent Details

Jan Mitchell Properties, Covering North East

0191 625 1034

Next Steps?

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