2 Bed Bungalow, Refurb/BRRR, South Shields, NE34 6DT, £230,000

Summerhill Road, South Shields, NE34 6DT - 2 views - 3 months ago

Leasehold
Refurb/BRRR
~68 m²
+8 photos

ValuationOvervalued

Sold Prices£45K - £395K
Sold Prices/m²£776/m² - £6.7K/m²

 

 

Square Metres

~68.11 m²
Price/m²£3.4K/m²

Value Estimate

£125,773

 

 

End Value (After Refurb)

£195,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£57,500

Stamp Duty & Legal Fees

£8,100

Refurb Costs

£26,073

Bridging Loan Interest

£6,038

Total Cash In

£99,460

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£195,000

Mortgage (After Refinance)

£146,250

Mortgage LTV

75%

Cash Left In

£99,460

Equity

£48,750

Rent Range

£475 - £2,000

Rent Estimate

£727

Running Costs/mo

£775

Cashflow/mo

£-48

Cashflow/yr

£-573

Gross Yield

4%

Local Sold Prices

50 sold prices from £45K to £395K, average is £162.5K. £776/m² to £6.7K/m², average is £1.8K/m².

PriceDateDistanceAddressBeds 
£200K02/230.07 mi22, Summerhill Road, South Shields, Tyne And Wear NE34 6DT2
£222.5K06/230.07 mi18, Summerhill Road, South Shields, Tyne And Wear NE34 6DT2
£260K01/240.16 mi51, Lisle Road, South Shields, Tyne And Wear NE34 6DH2
£282.5K07/230.18 mi7, Fairview Avenue, South Shields, Tyne And Wear NE34 6DD2
£160K07/230.19 mi167, Harton House Road, South Shields, Tyne And Wear NE34 6EA2
£125K08/230.22 mi34, Harton Rise, South Shields, Tyne And Wear NE34 6DY2
£160K12/200.22 mi39, Harton Rise, South Shields, Tyne And Wear NE34 6DY2
£75K02/210.22 mi72, The High Road, South Shields, Tyne And Wear NE34 6QF2
£156K01/230.26 mi99, Harton House Road, South Shields, Tyne And Wear NE34 6EB2
£146K11/210.26 mi99, Harton House Road, South Shields, Tyne And Wear NE34 6EB2
£90K08/230.27 mi81, St Cuthberts Avenue, South Shields, Tyne And Wear NE34 6JZ2
£149.9K09/210.27 mi19, Horsley Vale, South Shields, Tyne And Wear NE34 6JP2
£159.9K08/210.28 mi1, Horsley Vale, South Shields, Tyne And Wear NE34 6JF2
£200K09/210.28 mi2, St Marys Avenue, South Shields, Tyne And Wear NE34 6AF2
£97.5K12/230.32 mi208, Highfield Road, South Shields, Tyne And Wear NE34 6LF2
£115K08/230.33 mi71, Cheviot Road, South Shields, Tyne And Wear NE34 7LJ2
£115K02/230.33 mi13, Russell Avenue, South Shields, Tyne And Wear NE34 6PN2
£175K02/230.34 mi60, Highfield Drive, South Shields, Tyne And Wear NE34 6JE2
£105K08/230.35 mi88, Norham Avenue South, South Shields, Tyne And Wear NE34 7LT2
£115K03/210.35 mi76, Tanfield Gardens, South Shields, Tyne And Wear NE34 7DY2
£167K07/240.36 mi33, Highfield Drive, South Shields, Tyne And Wear NE34 6JD2
£120K02/230.37 mi29, Tanfield Gardens, South Shields, Tyne And Wear NE34 7DX2
£94.3K09/210.4 mi39, St Marys Avenue, South Shields, Tyne And Wear NE34 6QA2
£109K09/210.4 mi35, Frenchmans Way, South Shields, Tyne And Wear NE34 7TS2
£75K02/210.4 mi27, Frenchmans Way, South Shields, Tyne And Wear NE34 7TS2
£165K01/240.43 mi42, Callum Drive, South Shields, Tyne And Wear NE34 6TZ2
£290K06/230.45 mi27, North Avenue, South Shields, Tyne And Wear NE34 6BB2
£100K07/240.46 mi24, Devon Gardens, South Shields, Tyne And Wear NE34 7HY2
£117K09/230.46 mi9, Devon Gardens, South Shields, Tyne And Wear NE34 7HY2
£87.8K03/210.46 mi1, Devon Gardens, South Shields, Tyne And Wear NE34 7HY2
£45K01/210.46 mi16, Devon Gardens, South Shields, Tyne And Wear NE34 7HY2
£390K06/240.46 mi30, Central Avenue, South Shields, Tyne And Wear NE34 6AZ2
£200K09/230.48 mi27, Central Avenue, South Shields, Tyne And Wear NE34 6AY2
£395K10/230.48 mi21, Central Avenue, South Shields, Tyne And Wear NE34 6AY2
£220K08/210.49 mi8, Central Gardens, South Shields, Tyne And Wear NE34 6BA2
£230K06/240.49 mi17, Central Gardens, South Shields, Tyne And Wear NE34 6BA2
£220K01/210.49 mi13, Central Gardens, South Shields, Tyne And Wear NE34 6BA2
£118.3K06/230.5 mi12, Widdrington Avenue, South Shields, Tyne And Wear NE34 7TH2
£78K05/210.5 mi36, Widdrington Avenue, South Shields, Tyne And Wear NE34 7TH2
£235K06/210.5 mi8, North View, South Shields, Tyne And Wear NE34 6HQ2
£295K11/210.51 mi3, Braemar Drive, South Shields, Tyne And Wear NE34 7TZ2
£185K04/230.51 mi40, Braemar Drive, South Shields, Tyne And Wear NE34 7TZ2
£300K09/230.51 mi20, Braemar Drive, South Shields, Tyne And Wear NE34 7TZ2
£217K05/230.51 mi4, Braemar Drive, South Shields, Tyne And Wear NE34 7TZ2
£265K12/220.51 mi70, West Avenue, South Shields, Tyne And Wear NE34 6BD2
£248.5K12/200.56 mi27, Southfield Road, South Shields, Tyne And Wear NE34 6HJ2
£215K01/240.57 mi39, Bamburgh Avenue, South Shields, Tyne And Wear NE34 7TJ2
£242.3K06/230.57 mi8, West Avenue, South Shields, Tyne And Wear NE34 6QU2
£142K01/210.61 mi10, Prince Of Wales Close, South Shields, Tyne And Wear NE34 6QT2
£225K02/230.62 mi161, Grosvenor Road, South Shields, Tyne And Wear NE33 3HL2

Local Rents

50 rents from £475/mo to £2K/mo, average is £628/mo.

RentDateDistanceAddressBeds 
£2,00005/240.21 mi-2
£80004/250.28 mi-2
£67507/240.79 miRedwood Avenue, Cleadon Vale, South Shields, Tyne and Wear, NE34 8DF2
£69507/240.87 miOxford Avenue, South Shields2
£77507/240.91 miIngham House, South Shields2
£57506/240.92 mi-2
£49506/240.96 miColeridge Avenue, South Shields2
£60005/240.96 mi-2
£85005/240.96 mi-2
£47507/240.98 mi93 St Vincent Street South Shields NE33 3AS2
£52002/240.98 mi-2
£55007/240.98 mi-2
£55004/250.98 mi-2
£69502/240.99 mi-2
£65004/240.99 mi-2
£69512/240.99 mi-2
£79505/241 miNora Street, South Shields2
£60004/251.04 mi-2
£70004/251.06 mi-2
£62504/251.07 mi-2
£65002/241.08 mi-2
£60004/251.08 mi-2
£62506/241.09 miAshley Road, South Shields2
£59506/241.1 mi-2
£59502/251.1 mi-2
£67505/241.1 mi96 Imeary Street, South Shields2
£64506/241.1 miImeary Street, South Shields, Tyne and Wear, NE332
£60006/241.1 mi-2
£60004/251.1 mi-2
£60004/251.1 mi-2
£70004/251.11 mi-2
£60012/231.12 mi-2
£70005/241.13 mi-2
£70007/241.13 mi-2
£52003/241.13 mi-2
£55007/241.13 mi-2
£55006/241.13 miCollingwood Street, South Shields, NE332
£55007/241.13 miCollingwood Street, South Shields, NE332
£69505/241.14 miSpohr Terrace, South Shields2
£69505/241.15 mi-2
£60005/241.15 mi-2
£65006/241.15 miWestcott Road, South Shields2
£57503/241.15 mi-2
£58509/241.16 mi-2
£65006/241.16 miTalbot Road, South Shields, South Tyneside2
£75003/251.16 mi-2
£63006/241.16 mi-2
£75003/251.17 mi-2
£79505/241.17 miSea Winnings Way, South Shields2
£55001/251.18 mi-2

Local Area Statistics

Population in NE34

52,101

Population in South Shields

79,432

Town centre distance

0.75 miles away

Nearest school

0.20 miles away

Nearest train station

1.31 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+35%

Sales demand

Seller's market

Capital growth (5yrs)

+27%

Property History

Listed for £230,000

January 23, 2025

Description

  • Offering Great Opportunities +
  • One Level Versatile Living +
  • Ample Parking To The Front +
  • Perfect Location For Shops, Transport Links and Well Regarded Schools +
  • Popular and Sought After Location +
  • Reference: 445979 +

Tucked away in the highly sought-after Summerhill Road, this charming two/three bedroom semi detached bungalow offers the perfect opportunity for single level living, sold with vacant possession. Offered with a blank canvas ready for someone to put their own stamp on. The well designed floor plan includes a welcoming Entrance Lobby, a spacious front facing Lounge, two Bedrooms, and a practical Shower Room. A separate Dining Room flows effortlessly into the Kitchen, creating an ideal space for everyday living.

With great potential for modernisation and personalisation, this property is ideally located close to local shops, amenities, and coastal attractions. Perfect for those looking to downsize and seeking manageable outdoor spaces, this home offers the ideal blend of comfort and convenience. The Town Centre is just a short distance away, with a variety of shops, restaurants, and amenities offering both convenience and leisure. This is a wonderful opportunity to make the most of a fantastic location and create your ideal home.
ENTRANCE
Via UPVC door into hallway.
HALLWAY
Door into lounge.
LOUNGE 11m (36'1) x 4.8m (15'9)
Double glazed window to front and radiator.
DINING ROOM 4.06m (13'4) x 3.73m (12'3)
Double glazed window, radiator, feature fireplace with electric fire, coving to ceiling and open into:-
KITCHEN 3.56m (11'8) x 2.21m (7'3)
Basic range of wall and base units with contrasting worktops, integrated oven and hob with over head steel extractor, plumbing for washing machine, space for fridge freezer, space for dishwasher, laminate flooring, tiling to splash area, double glazed window, UPVC door to rear and COMBI boiler is located here.
BEDROOM ONE 4.39m (14'5) x 3.4m (11'2)
Double glazed bay window to front and radiator.
BEDROOM TWO 4.11m (13'6) x 2.57m (8'5)
Double glazed window and radiator.
SHOWER ROOM
Shower cubicle, hand wash basin, low flush w.c., cladding to walls, vinyl flooring, radiator and double glazed window.
EXTERNALLY
Sunny aspect garden to rear.
DRIVEWAY
Brick paved driveway to front providing parking for one car.
GARAGE
Attached single garage to side accessed via up and over door.
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
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.
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.
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.
Broadband & Mobile Coverage
The Ofcom website states the average broadband download speed of 12 Mbps and a maximum download speed of 1000 Mbps at this postcode: NE34 6DT 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 C

EPC Rating: D

Agent Details

Andrew Craig, South Shields

0191 625 0766

Next Steps?

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