3 Bed Terraced House, Refurb/BRRR, Newcastle upon Tyne, NE16 4PZ, £265,000

5 Cornmoor Gardens, Newcastle Upon Tyne, NE16 4PZ - 3 views - 2 months ago

Refurb/BRRR
~93 m²
+21 photos

ValuationOvervalued











Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£66,250

Stamp Duty & Legal Fees

£9,900

Refurb Costs

£35,600

Bridging Loan Interest

£6,956

Total Cash In

£120,456

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£279,592

Mortgage (After Refinance)

£209,694

Mortgage LTV

75%

Cash Released

£10,944

Cash Left In

£109,512

Equity

£69,898

Rent Range

£650 - £1,300

Rent Estimate

£935

Running Costs/mo

£1,081

Cashflow/mo

£-146

Cashflow/yr

£-1,749

Gross Yield

4%













Local Rents

15 rents from £650/mo to £1.3K/mo, average is £850/mo.

RentDateDistanceAddressBeds 
£85007/240.37 mi-3
£85006/240.37 miThe Drive, Whickham, Newcastle Upon Tyne, NE163
£75005/240.38 miBroadpool Green, Whickham, Newcastle upon Tyne, Tyne and Wear, NE16 4RH3
£95006/240.55 mi-3
£1,00005/240.7 miOtterburn Gardens, Whickham, Newcastle upon Tyne, Tyne and Wear, NE163
£85010/240.82 mi-3
£1,20005/240.86 miCarrsyde Close, Whickham, Newcastle Upon Tyne, NE163
£1,20009/230.9 mi-3
£1,20009/240.9 mi-3
£1,30006/240.91 mi-3
£75010/240.98 mi-3
£85002/241.05 mi-3
£65007/241.12 mi-3
£77502/251.15 mi-3
£69506/241.18 miAxwell Terrace, Swalwell, NE163

Local Area Statistics

Population in NE16

25,637

Population in Newcastle upon Tyne

381,037

Town centre distance

4.98 miles away

Nearest school

0.30 miles away

Nearest train station

1.56 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

-3%

Sales demand

Balanced market

Capital growth (5yrs)

+33%

Property History

Listed for £265,000

January 22, 2025

Floor Plans

Description

  • Brand New Renovation +
  • Family Friendly Cul-De-Sac Location +
  • Front and Rear Gardens +
  • Modern Shaker Kitchen +
  • Integrated Appliances +
  • Floating Radiators Throughout +
  • Double Bedrooms with Integrated Storage +
  • Walk-in Shower +
  • Detached Garage +
  • No Onward Chain +

Hive Estates presents this beautifully renovated home, situated in a family-friendly cul-de-sac in Whickham. The property offers modern living with no onward chain and boasts front and rear gardens. Inside, enjoy an open plan living and dining space, with dual aspect views to the front and rear. There's a modern Shaker kitchen with spotlighting, a tiled floor, and integrated appliances including a range hob. There's a stylish column vertical radiator, and a fridge freezer and washing machine are also provided. Elsewhere, the home features double bedrooms with integrated storage, a tiled bathroom with a walk-in shower, thick pile carpeting throughout, and solid oak doors. There's a modern combi-boiler heating system, with new floating radiators, and efficient double glazing with a composite front door. Outside, there's a detached single garage, and, with an open aspect to the front, the property is not overlooked by neighbours. Perfectly designed for comfort and convenience, this move-in-ready home is a must see.

Lounge/Dining Room - 6.93 x 4.28 (22'8" x 14'0") -

Kitchen - 3.05 x 2.99 (10'0" x 9'9") -

Bedroom 1 - 3.41 x 3.84 (11'2" x 12'7") -

Bedroom 2 - 2.49 x 2.63 (8'2" x 8'7" ) -

Bedroom 3 - 2.79 x 3.14 (9'1" x 10'3") -

Bathroom - 1.64 x 2.55 (5'4" x 8'4") -

Agent Details

Hive Estates, Newcastle upon Tyne

0191 625 0246

Next Steps?

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