2 Bed Flat, Cash/Bridging Only, Gateshead, NE8 4NQ, £85,000

Westbourne Avenue, Gateshead, Tyne And Wear, NE8 4NQ - 3 views - 2 months ago

Sold STC
Cash
ROI: 8%
~68 m²
+14 photos

ValuationFair Value

Sold Prices£53K - £145K
Sold Prices/m²£795/m² - £1.9K/m²

 

 

Square Metres

~68.11 m²
Price/m²£1.2K/m²

Value Estimate

£85,599

 

 

End Value (After Refurb)

£85,599

Uplift in Value

+1%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£21,250

Stamp Duty & Legal Fees

£3,750

Refurb Costs

£26,073

Bridging Loan Interest

£2,231

Total Cash In

£55,054

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£85,599

Mortgage (After Refinance)

£64,199

Mortgage LTV

75%

Cash Released

£449

Cash Left In

£54,604

Equity

£21,400

Rent Range

£590 - £3,500

Rent Estimate

£825

Running Costs/mo

£453

Cashflow/mo

£372

Cashflow/yr

£4,464

ROI

8%

Gross Yield

12%

Local Sold Prices

50 sold prices from £53K to £145K, average is £86K. £795/m² to £1.9K/m², average is £1.3K/m².

PriceDateDistanceAddressBeds 
£97K06/230.03 mi106, Windsor Avenue, Gateshead, Tyne And Wear NE8 4NX2
£91.5K04/240.05 mi123, Eastbourne Avenue, Gateshead, Tyne And Wear NE8 4NJ2
£79K04/210.07 mi229, Rectory Road, Gateshead, Tyne And Wear NE8 4RS2
£103K10/200.07 mi291, Rectory Road, Gateshead, Tyne And Wear NE8 4RS2
£90K07/210.07 mi169, Westbourne Avenue, Gateshead, Tyne And Wear NE8 4NR2
£88K07/230.08 mi35, Westbourne Avenue, Gateshead, Tyne And Wear NE8 4NF2
£62.5K05/210.09 mi52, Westbourne Avenue, Gateshead, Tyne And Wear NE8 4NP2
£55.5K02/210.09 mi30, Westbourne Avenue, Gateshead, Tyne And Wear NE8 4NP2
£87K12/220.09 mi89, Westbourne Avenue, Gateshead, Tyne And Wear NE8 4NF2
£83.3K07/230.09 mi17, Windsor Avenue, Gateshead, Tyne And Wear NE8 4NU2
£96K11/210.09 mi223, Eastbourne Avenue, Gateshead, Tyne And Wear NE8 4NL2
£101K09/230.09 mi183, Eastbourne Avenue, Gateshead, Tyne And Wear NE8 4NL2
£85K11/210.09 mi163, Eastbourne Avenue, Gateshead, Tyne And Wear NE8 4NL2
£65K12/200.09 mi82, Windsor Avenue, Gateshead, Tyne And Wear NE8 4NG2
£94K05/210.11 mi77, Fern Dene Road, Gateshead, Tyne And Wear NE8 4RT2
£104K01/230.12 mi231, Eastbourne Avenue, Gateshead, Tyne And Wear NE8 4NN2
£106K06/230.12 mi20, Fern Dene Road, Gateshead, Tyne And Wear NE8 4RX2
£74.5K04/210.14 mi275, Westbourne Avenue, Gateshead, Tyne And Wear NE8 4NS2
£53K11/200.14 mi85, Rodsley Avenue, Gateshead, Tyne And Wear NE8 4LA2
£71.8K11/210.15 mi207, Whitehall Road, Gateshead, Tyne And Wear NE8 4PS2
£120K06/230.15 mi249, Eastbourne Avenue, Gateshead, Tyne And Wear NE8 4NN2
£80K04/230.17 mi93, Fern Dene Road, Gateshead, Tyne And Wear NE8 4RU2
£95K09/210.17 mi159, Brinkburn Avenue, Gateshead, Tyne And Wear NE8 4JX2
£84K02/210.17 mi190, Brinkburn Avenue, Gateshead, Tyne And Wear NE8 4JX2
£68K02/210.17 mi143, Brinkburn Avenue, Gateshead, Tyne And Wear NE8 4JX2
£96K10/230.17 mi146, Brinkburn Avenue, Gateshead, Tyne And Wear NE8 4JX2
£100K06/230.17 mi159, Brinkburn Avenue, Gateshead, Tyne And Wear NE8 4JX2
£78K07/230.17 mi162, Brinkburn Avenue, Gateshead, Tyne And Wear NE8 4JX2
£115K12/230.17 mi186, Brinkburn Avenue, Gateshead, Tyne And Wear NE8 4JX2
£114.8K08/230.17 mi28, Saltwell View, Gateshead, Tyne And Wear NE8 4NT2
£70K09/210.18 mi238, Whitehall Road, Gateshead, Tyne And Wear NE8 4PU2
£75K08/210.18 mi244, Whitehall Road, Gateshead, Tyne And Wear NE8 4PU2
£84.5K02/230.18 mi17, Rodsley Avenue, Gateshead, Tyne And Wear NE8 4JY2
£61K10/200.18 mi83, Rodsley Avenue, Gateshead, Tyne And Wear NE8 4JY2
£95K08/230.2 mi26, Curzon Street, Gateshead, Tyne And Wear NE8 1YD2
£71K09/230.21 mi97, Rectory Road, Gateshead, Tyne And Wear NE8 1XJ2
£62K12/200.22 mi221, Rawling Road, Gateshead, Tyne And Wear NE8 4QU2
£112K05/230.24 mi131, Avenue Road, Gateshead, Tyne And Wear NE8 4JH2
£140K06/230.24 mi16, Exeter Street, Gateshead, Tyne And Wear NE8 4EY2
£95K10/230.24 mi51, Exeter Street, Gateshead, Tyne And Wear NE8 4EY2
£145K07/230.24 mi42, Exeter Street, Gateshead, Tyne And Wear NE8 4EY2
£58.5K03/240.25 mi157, Rawling Road, Gateshead, Tyne And Wear NE8 4QT2
£73K04/210.25 mi120, Rawling Road, Gateshead, Tyne And Wear NE8 4QT2
£70K03/230.25 mi169, Rawling Road, Gateshead, Tyne And Wear NE8 4QT2
£95K08/210.26 mi14, Silverdale Terrace, Gateshead, Tyne And Wear NE8 4JL2
£94K01/230.26 mi4, Cotterdale Avenue, Gateshead, Tyne And Wear NE8 4JP2
£90K10/210.26 mi76, Faraday Grove, Gateshead, Tyne And Wear NE8 4UL2
£69K04/230.26 mi35, Faraday Grove, Gateshead, Tyne And Wear NE8 4UL2
£55K10/230.26 mi23, Faraday Grove, Gateshead, Tyne And Wear NE8 4UL2
£77K11/200.26 mi78, Faraday Grove, Gateshead, Tyne And Wear NE8 4UL2

Local Rents

53 rents from £590/mo to £3.5K/mo, average is £700/mo.

RentDateDistanceAddressBeds 
£80009/240.02 mi-2
£80008/240.02 mi-2
£80006/240.02 miWestbourne Avenue, Gateshead, NE82
£75004/240.04 mi-2
£64010/240.06 mi-2
£69503/250.06 mi-2
£75001/250.07 mi-2
£62510/230.07 mi-2
£82002/240.07 mi-2
£1,85006/240.08 mi-2
£1,85006/240.08 mi-2
£1,85006/240.08 mi-2
£1,85012/240.08 mi-2
£1,85012/240.08 mi-2
£1,85012/240.08 mi-2
£1,85012/240.08 mi-2
£1,75003/250.08 mi-2
£65002/240.08 mi-2
£75012/240.08 mi-2
£75006/240.09 miEastbourne Avenue, Gateshead, NE82
£65006/240.09 mi-2
£65007/240.09 miBrinkburn Avenue, Gateshead2
£69507/240.09 miEastbourne Avenue, Gateshead2
£65006/240.1 miWestbourne Avenue, Gateshead2
£85007/240.1 mi183 Rectory Road, Gateshead, Tyne And Wear, NE82
£75002/250.11 mi-2
£95006/240.11 miFern Dene Road, Gateshead, NE82
£65006/240.12 miRectory Road, Bensham, Gateshead, Tyne and Wear, NE8 4RQ2
£3,50003/250.12 mi-2
£69507/240.12 miFern Dene Road, Gateshead, NE82
£67504/240.12 mi-2
£67506/240.13 miWindsor Avenue, Gateshead2
£70006/240.13 miWestbourne Avenue, Gateshead2
£65007/240.14 miRodsley Avenue, Gateshead2
£67505/240.14 mi-2
£75006/240.15 miBrighton Road, Gateshead, NE82
£75006/240.15 mi-2
£69512/240.15 mi-2
£59007/230.15 mi-2
£67506/240.15 mi-2
£65007/240.15 miBrighton Road, Gateshead2
£69507/240.16 miWindsor Avenue, Gateshead2
£72507/240.17 miBrinkburn Avenue, Bensham, Gateshead, Tyne And Wear, NE82
£70006/240.17 miBrinkburn Avenue, Saltwell2
£72506/240.17 miSaltwell View, Gateshead, Tyne And Wear, NE82
£69506/240.18 miRodsley Avenue, Gateshead, NE82
£75002/240.2 mi-2
£70002/250.2 mi-2
£65012/240.21 mi-2
£59507/230.21 mi-2
£67502/250.21 mi-2
£70006/240.22 mi-2
£95006/240.22 miExeter Street, Gateshead2

Local Area Statistics

Population in NE8

32,358

Population in Gateshead

122,353

Town centre distance

1.04 miles away

Nearest school

0.20 miles away

Nearest train station

0.90 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+64%

Sales demand

Balanced market

Capital growth (5yrs)

+15%

Property History

Listed for £85,000

January 25, 2025

Description

  • Two bedroom ground floor flat +
  • Spacious living area +
  • Recently updated +
  • Secure rear yard +
  • Close to amenities +
  • No upper chain +
  • Great transport links +

Available now is this recently upgraded and fully redecorated TWO bedroom GROUND FLOOR flat on Westbourne Avenue near Saltwell Park in Gateshead. With a desirable FREEHOLD tenure and NO UPPER CHAIN, it's ready to move in for a number of buyers including FIRST TIMERS and INVESTORS.

Briefly comprising, entrance hallway leading to one large double bedroom, a second bedroom, storage cupboard and a spacious living area. Access then to the recently upgraded, modern kitchen and family bathroom. and with hard flooring throughout, it's ready to move in and relax.

Externally to the rear is a secure yard accessed from the kitchen, and this flat is conveniently located for local amenities as well as great transport links. Saltwell Park is literally at the end of the street for excellent wide open spaces

If you would like to make an Offer:

Please note that Target Property NE will immediately notify the seller when any offer is made on this property. At the same time for Anti-Money Laundering legislation (AML), identity checks and proof of purchase funding including but not limited to, passport or driving licence with a utility bill showing current address, a mortgage agreement in principle, proof of deposit funds, proof of available cash and full chain details including applicable selling agent and solicitor is required.

Tenure:

Target Property NE are not able to fully confirm the tenure of the property, because it is not always possible to see the relevant documentation prior to putting the property up for sale. Prospective buyers must always make appropriate and further enquiries with their own legal adviser.

Agent Details

Target Property NE, Whickham

07901 862377

Next Steps?

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