3 Bed Flat, Refurb/BRRR, South Shields, NE33 4RG, £79,950

Vine Street, South Shields, NE33 4RG - 3 months ago

Sold STC
Leasehold
Refurb/BRRR
ROI: 6%
~93 m²
+5 photos

ValuationUndervalued

Sold Prices£35K - £112K
Sold Prices/m²£479/m² - £1.4K/m²

 

 

Square Metres

~93 m²
Price/m²£860/m²

Value Estimate

£82,349
BMV3%

 

 

End Value (After Refurb)

£94,807

Uplift in Value

+19%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£19,988

Stamp Duty & Legal Fees

£5,198

Refurb Costs

£35,501

Bridging Loan Interest

£2,099

Total Cash In

£64,535

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£94,807

Mortgage (After Refinance)

£71,105

Mortgage LTV

75%

Cash Released

£11,143

Cash Left In

£53,392

Equity

£23,702

Rent Range

£550 - £3,300

Rent Estimate

£782

Running Costs/mo

£473

Cashflow/mo

£309

Cashflow/yr

£3,712

ROI

6%

Gross Yield

12%

Local Sold Prices

29 sold prices from £35K to £112K, average is £72.5K. £479/m² to £1.4K/m², average is £893/m².

PriceDateDistanceAddressBeds 
£80K11/210.14 mi49, Alnwick Road, South Shields, Tyne And Wear NE34 0LB3
£90K01/210.15 mi48, Crofton Street, South Shields, Tyne And Wear NE34 0QP3
£75K01/210.15 mi47, Boldon Lane, South Shields, Tyne And Wear NE34 0AR3
£60K02/230.17 mi82, Gordon Road, South Shields, Tyne And Wear NE34 0QR3
£58K04/230.19 mi7, Whitehall Street, South Shields, Tyne And Wear NE33 4SU3
£65K12/220.19 mi59, Brownlow Road, South Shields, Tyne And Wear NE34 0QT3
£72.5K08/220.22 mi46, Richmond Road, South Shields, Tyne And Wear NE34 0QL3
£73K01/210.26 mi10, Ashley Road, South Shields, Tyne And Wear NE34 0PD3
£49.7K01/210.26 mi123, Talbot Road, South Shields, Tyne And Wear NE34 0RG3
£73K04/210.28 mi85, Egerton Road, South Shields, Tyne And Wear NE34 0RD3
£41K01/210.3 mi92, Nora Street, South Shields, Tyne And Wear NE34 0RB3
£65.5K09/210.32 mi3, Whitehead Street, South Shields, Tyne And Wear NE33 5LZ3
£80K09/220.32 mi83, Egerton Road, South Shields, Tyne And Wear NE34 0RD3
£35K02/230.42 mi440, John Williamson Street, South Shields, Tyne And Wear NE33 5HW3
£112K09/230.45 mi96, Birchington Avenue, South Shields, Tyne And Wear NE33 4SA3
£88K11/200.45 mi96, Birchington Avenue, South Shields, Tyne And Wear NE33 4SA3
£87.5K07/230.55 mi18, Armstrong Terrace, South Shields, Tyne And Wear NE33 4LE3
£56K12/200.57 mi92, Collingwood Street, South Shields, Tyne And Wear NE33 4JY3
£80K08/230.6 mi79, Bewick Street, South Shields, Tyne And Wear NE33 4JU3
£40K12/200.63 mi150, Eglesfield Road, South Shields, Tyne And Wear NE33 5PX3
£95K05/230.63 mi1, Garrick Street, South Shields, Tyne And Wear NE33 4JT3
£80K08/230.65 mi15, Kirkdale Court, South Shields, Tyne And Wear NE34 9EU3
£55K08/230.67 mi124, Mortimer Road, South Shields, Tyne And Wear NE33 4UQ3
£60K06/210.76 mi21, Marshall Wallis Road, South Shields, Tyne And Wear NE33 5PD3
£65K12/200.76 mi48, Marlborough Street North, South Shields, Tyne And Wear NE33 4DA3
£92K09/230.77 mi115, Canterbury Street, South Shields, Tyne And Wear NE33 4DD3
£88K07/210.78 mi9, Oxford Avenue, South Shields, Tyne And Wear NE33 4TW3
£60K01/210.78 mi24, Northcote Street, South Shields, Tyne And Wear NE33 4BY3
£47K09/210.78 mi19, Canterbury Street, South Shields, Tyne And Wear NE33 4DQ3

Local Rents

27 rents from £550/mo to £3.3K/mo, average is £650/mo.

RentDateDistanceAddressBeds 
£60006/240.01 miWest Park, South Shields, NE33 4RG3
£60007/240.01 miWest Park, South Shields, NE33 4RG3
£67507/240.02 miVine Street, South Shields3
£55007/240.03 miStanhope Road, South Shields, Tyne and Wear, NE333
£80010/240.04 mi-3
£65003/250.04 mi-3
£79506/240.08 miVine Street, South Shields3
£90003/250.1 mi-3
£65003/250.14 mi-3
£60005/240.15 mi-3
£62511/240.15 mi-3
£80006/240.24 miWear Court, South Shields3
£79507/240.27 mi-3
£79506/240.27 miWadham Terrace, South Shields, NE343
£75007/240.27 miWest Harton, South Shields, NE34 0BU3
£75007/240.27 miWest Harton, South Shields, NE34 0BU3
£58502/240.28 mi-3
£55009/230.33 mi-3
£77501/250.39 mi-3
£66503/250.4 mi-3
£59005/240.42 miJohn Williamson Street, South Shields, Tyne And Wear, NE333
£3,30003/250.5 mi-3
£65005/230.52 mi-3
£65005/230.52 mi-3
£69512/240.54 miRavensworth Terrace, South Shields3
£59502/250.61 mi-3
£60005/240.61 mi-3

Local Area Statistics

Population in NE33

27,262

Population in South Shields

79,432

Town centre distance

0.72 miles away

Nearest school

0.10 miles away

Nearest train station

0.15 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+19%

Sales demand

Seller's market

Capital growth (5yrs)

+8%

Property History

Listed for £79,950

January 22, 2025

Description

  • Sold With No Onward Chain & Vacant possession ! +
  • Spacious Open Plan Living Spaces +
  • Fantastic Rental Investment Opportunity +
  • Off Road Parking Provided To Rear +
  • Ready For Modernisation & Personalisation +
  • Reference : 461009 +

This two/three bedroom first floor flat presents a fantastic investment opportunity, offered with vacant possession. Located off Stanhope Road, the property is within easy reach of a variety of local amenities, including shops, bus routes, Tyne Dock metro station, and Boldon Lane for even more conveniences.

Ideal for both first time buyers and rental investors, the flat features an entrance hallway with stairs leading to the first floor. The layout includes a spacious open plan lounge diner, a contemporary kitchen, and a bathroom suite. Bedrooms one and three are accessed from the hallway, with bedroom three offering flexibility as a dressing room or home office. The second large bedroom is accessible off the lounge. Externally, there is parking available at the rear. Don't miss out - call now to arrange a viewing!
ENTRANCE
Via UPVC door into Hallway.
HALLWAY
Stairs to first floor Landing.
FIRST FLOOR LANDING
Access into Bedroom One, Bedroom Three and Bathroom.
BEDROOM ONE 3.86m (12'8) x 3.45m (11'4)
Double glazed window and radiator.
BEDROOM THREE / DRESSING ROOM / HOME OFFICE 2.34m (7'8) x 1.96m (6'5)
"L" shaped, double glazed window and radiator.
BATHROOM
Panelled bath with shower over and shower screen, low flush W.C., hand wash basin, window, radiator and tiling to part walls.
OPEN PLAN LOUNGE DINER 5.31m (17'5) x 3.4m (11'2)
Window, radiator, door into Bedroom Two and open archway into the Kitchen.
KITCHEN 2.36m (7'9) x 2.51m (8'3)
Fitted with a range of wall and base units with contrasting worktops, integrated oven and hob with extractor over, plumbing for washer, space for under bench fridge and freezer, COMBI boiler is located here, sink unit with mixer tap, part tiling to walls, laminate flooring and door opening to rear Staircase.
BEDROOM TWO 3.86m (12'8) x 2.49m (8'2)
Double glazed window and radiator.
PARKING
Allocated parking bay.
Tenure
The property is Leasehold with a term of 999 years from 22nd October 2007.
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 4RG 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: C

Agent Details

Andrew Craig, South Shields

0191 625 0766

Next Steps?

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