2 Bed Flat, Single Let, North Shields, NE30 1NE, £115,000

Union Stairs, North Shields, NE30 1NE - 2 months ago

Sold STC
BTL
ROI: 2%
~68 m²

ValuationUndervalued

Sold Prices£45K - £340K
Sold Prices/m²£710/m² - £3K/m²

 

 

Square Metres

~68.11 m²
Price/m²£1.7K/m²

Value Estimate

£124,471
BMV8%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£28,750

Stamp Duty & Legal Fees

£6,950

Total Cash In

£35,700

 

 

Cash Out

 

Rent Range

£475 - £1,545

Rent Estimate

£566

Running Costs/mo

£493

Cashflow/mo

£73

Cashflow/yr

£881

ROI

2%

Gross Yield

6%

Local Sold Prices

50 sold prices from £45K to £340K, average is £122.5K. £710/m² to £3K/m², average is £1.8K/m².

PriceDateDistanceAddressBeds 
£120K10/220 mi9, Union Street, North Shields, Tyne And Wear NE30 1NL2
£127.5K10/230 mi29, Union Stairs, North Shields, Tyne And Wear NE30 1NE2
£130K04/210 mi12, Union Stairs, North Shields, Tyne And Wear NE30 1NE2
£120K06/210 mi27, Union Stairs, North Shields, Tyne And Wear NE30 1NE2
£130K08/230 mi24, Union Stairs, North Shields, Tyne And Wear NE30 1NE2
£125K03/230 mi1, Union Stairs, North Shields, Tyne And Wear NE30 1NE2
£160K03/210.01 mi3, Howard Street, North Shields, Tyne And Wear NE30 1AW2
£155K09/210.03 mi10, Union Street, North Shields, Tyne And Wear NE30 1NL2
£131.5K04/230.03 mi22, Union Street, North Shields, Tyne And Wear NE30 1NL2
£137K08/210.03 mi5, Union Street, North Shields, Tyne And Wear NE30 1NL2
£145K05/230.05 mi17, Camden Square, North Shields, Tyne And Wear NE30 1NR2
£90K05/210.1 mi9, Little Bedford Street, North Shields, Tyne And Wear NE29 6NW2
£63K10/210.1 mi9a, Little Bedford Street, North Shields, Tyne And Wear NE29 6NW2
£88K06/210.15 mi24, Yeoman Street, North Shields, Tyne And Wear NE29 6NL2
£67K01/210.18 mi37, Stanley Street, North Shields, Tyne And Wear NE29 6RH2
£63K05/210.2 mi8, William Street, North Shields, Tyne And Wear NE29 6RJ2
£63K05/210.21 mi8, William Street, North Shields, Tyne And Wear NE29 6RJ2
£260K06/240.24 mi8 Collingwood Mansions, New Quay, North Shields, Tyne And Wear NE29 6HA2
£240K02/210.24 mi24 Collingwood Mansions, New Quay, North Shields, Tyne And Wear NE29 6HA2
£340K05/230.24 mi2 Collingwood Mansions, New Quay, North Shields, Tyne And Wear NE29 6HA2
£56.5K07/230.26 mi9b, William Street West, North Shields, Tyne And Wear NE29 6RL2
£115K01/210.27 mi115, Stephenson Street, North Shields, Tyne And Wear NE30 1ER2
£94K12/220.33 mi10, Greens Place, South Shields, Tyne And Wear NE33 2AE2
£195K06/210.34 mi17, Renaissance Point, North Shields, Tyne And Wear NE30 1LA2
£181K02/240.34 mi11, Renaissance Point, North Shields, Tyne And Wear NE30 1LA2
£112K10/200.34 mi10, Renaissance Point, North Shields, Tyne And Wear NE30 1LA2
£120K07/230.36 mi23, Grey Street, North Shields, Tyne And Wear NE30 2DZ2
£101.7K03/240.37 mi45, River Drive, South Shields, Tyne And Wear NE33 1TL2
£45K02/230.37 mi56, Vicarage Street, North Shields, Tyne And Wear NE29 6SJ2
£95K12/200.38 mi12, Military Road, North Shields, Tyne And Wear NE30 2AB2
£159.9K07/230.39 mi25, Drummond Terrace, North Shields, Tyne And Wear NE30 2AW2
£76.5K03/210.39 mi143, West Percy Street, North Shields, Tyne And Wear NE29 0BY2
£69K04/210.41 mi47, Seymour Street, North Shields, Tyne And Wear NE29 6SN2
£164.9K09/230.41 mi35, Fontburn Terrace, North Shields, Tyne And Wear NE30 2AE2
£164.9K09/230.41 mi33, Fontburn Terrace, North Shields, Tyne And Wear NE30 2AE2
£128.3K10/220.42 mi124, Haswell Gardens, North Shields, Tyne And Wear NE30 2DR2
£114K08/210.42 mi37, North King Street, North Shields, Tyne And Wear NE30 2HS2
£152.5K06/240.43 mi19, Long Row, South Shields, Tyne And Wear NE33 1JA2
£147.4K04/240.43 mi22, Long Row, South Shields, Tyne And Wear NE33 1JA2
£150K04/240.44 mi16, Spring Gardens Court, North Shields, Tyne And Wear NE29 0AN2
£154K03/230.44 mi54, Tynemouth Road, North Shields, Tyne And Wear NE30 1EE2
£80K02/230.45 mi17, Brannen Street, North Shields, Tyne And Wear NE29 0EH2
£132.5K10/230.46 mi39, Coburg Street, North Shields, Tyne And Wear NE30 2HX2
£92K06/230.46 mi142, Chirton West View, North Shields, Tyne And Wear NE29 0EN2
£125K11/230.46 mi32, Brock Farm Court, North Shields, Tyne And Wear NE30 2BQ2
£111.5K12/220.47 mi62, Brock Farm Court, North Shields, Tyne And Wear NE30 2BQ2
£160K11/220.47 mi22, Brock Farm Court, North Shields, Tyne And Wear NE30 2BQ2
£115K09/210.47 mi14, Etal Court, North Shields, Tyne And Wear NE29 0HH2
£120K11/230.47 mi26, Etal Court, North Shields, Tyne And Wear NE29 0HH2
£116K03/230.47 mi2, Etal Court, North Shields, Tyne And Wear NE29 0HH2

Local Rents

50 rents from £475/mo to £1.5K/mo, average is £750/mo.

RentDateDistanceAddressBeds 
£82507/240 miUnion Stairs, North Shields, NE302
£90007/240.02 miUnion Stairs, North Shields, Tyne and Wear, NE30 1NE2
£75006/240.02 miUnion Stairs, North Shields2
£70006/240.06 mi-2
£70006/240.06 miDolphin Quay, North Shields, NE292
£72505/240.09 miNorfolk Street, North Shields2
£77506/240.09 mi-2
£75008/240.09 mi-2
£75006/240.09 miSaville Street, North Shields, NE302
£72512/240.09 mi-2
£72512/240.1 mi-2
£69505/240.13 miLower Rudyerd Street, North Shields2
£1,40005/240.14 miShepherds Quay, Clive Street, North Shields, NE29 6LF2
£55007/240.17 miRudyerd Street, North Shields, NE292
£60011/240.18 mi-2
£1,10006/240.18 miApartment 3, Block C, Shepherds Quay, North Shields, NE29 6LJ2
£59507/240.2 miLaet Street, North Shields. NE29 6NN2
£47509/230.21 mi-2
£1,10003/250.23 mi-2
£65003/240.24 miStephenson House, Stephenson Street, North Shields, Tyne & Wear, NE302
£86511/240.26 mi-2
£90005/240.26 miThe Chain Locker, Duke Street, North Shields, Tyne and Wear, NE29 6HB2
£1,15012/230.26 mi-2
£57507/240.27 miAddison Street, North Shields, NE29 6LR2
£69502/250.27 mi-2
£65005/240.27 miWilliam Street West, North Shields, Tyne and Wear, NE29 6RL2
£65005/240.32 miWest Percy Street, North Shields2
£80005/240.33 miDuke Street, Smiths Dock, North Shields2
£1,00007/240.33 miSmokehouse One, North Shields2
£1,00005/240.33 miUnion Quay, North Shields2
£1,25005/240.34 miSmokehouse Two, Duke Street, Smiths Dock, North Shields, NE292
£65006/240.35 miStanley Street West, North Shields2
£86501/250.35 mi-2
£69507/240.36 miGrey Street, North Shields2
£62201/250.36 mi-2
£80006/240.37 miRiver Drive, South Shields2
£1,54502/240.37 mi-2
£72512/240.38 mi-2
£1,00005/240.38 miThe Irvin Building, North Shields, Tyne & Wear, NE302
£75005/240.38 miMilitary Road, North Shields2
£80005/240.38 miHowdon Road, North Shields2
£55005/240.38 miVicarage Street, North Shields. NE29 6SJ2
£1,25007/240.38 miIrvin Building, North Shields. NE30 1BH **STUNNING APARTMENT**2
£75006/240.39 miHowdon Road, North Shields, NE292
£79506/240.39 miDrummond Terrace, North Shields, Tyne and Wear, NE302
£67506/240.39 miWest Percy Street, North Shields. NE29 0BY2
£85001/250.41 mi-2
£92508/240.41 miHarbour Apartments, East Percy Street2
£69512/240.41 mi-2
£89507/240.42 mi-2

Local Area Statistics

Population in NE30

21,977

Population in North Shields

57,931

Town centre distance

0.68 miles away

Nearest school

0.30 miles away

Nearest train station

0.21 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

+29%

Sales demand

Seller's market

Capital growth (5yrs)

+35%

Property History

Listed for £115,000

January 29, 2025

Floor Plans

Description

  • North Shields +
  • Two Bedroom Apartment +
  • EPC Rating C / 73 +
  • Unfurnished +
  • First floor apartment +
  • Double glazing +
  • Gas central heating +
  • Secure entry system +
  • Garage & storage room +

Two bedroom first floor apartment benefits from secure entry system and is offered on an UNFURNISHED basis.

In brief the property comprises; communal entrance with stairs leading to first floor apartment, entrance hallway, living room, kitchen, two bedrooms and bathroom. The property also has the added advantage of having a garage with a storage room above. Available now.

Fees - Initial tenancy fees to secure a property are £180, which include; contract negotiations, processing the application, arranging the tenancy and drawing up the paperwork. There is also a charge of £30 per reference (one reference per adult occupier) this includes previous landlord checks, credit credits & an affordability assessment. These fees once paid are NON REFUNDABLE and on a first come, first served basis.

In the event of a block viewing where several parties are interested in renting a property, the agent may accept multiple applications on the same day as the viewing. In the interest of fairness, the landlord will then be given the choice based on the information given in the applications. The successful applicant will then be asked to pay their holding fee.

The tenancy deposit / bond can be calculated as the monthly rent plus £50 (EG £450 monthly rent + £50 = £500 deposit). An additional tenancy deposit / bond may be requested for tenants with pets. Not all landlords will consider pets so this should be confirmed with Brannen & Partners prior to viewing. As a general rule blocks of flats will not allow pets under the terms of the lease.

The first months rent, and the tenancy bond as stated above, is to be paid at the sign up stage and MUST be paid in CLEARED FUNDS, either CASH, BANKERS DRAFT or BUILDING SOCIETY CHEQUE. Please note that credit and debit cards as well as personal cheques are NOT accepted. All negotiations and payments are subject to contract.

More information can be found on our website under 'Lettings'

Living Room - 5.93m x 4.28m - Double glazed window, radiator

Kitchen - 2.90m x 2.06m - Double glazed window, fitted wall and base units with roll top work surfaces, plumbed for washing machine, 1.5 sink unit with mixer tap, built in electric oven and gas hob, extractor hood

Bedroom One - 3.31m x 2.84m - Double glazed window, radiator

Bedroom Two - 3.04m x 2.74m - Double glazed window, radiator

Bathroom - Double glazed window, heated towel rail, low level WC, shower cubicle wash hand basin.

Garage - Located under the building.

Storage Room - Located above garage

Agent Details

Brannen & Partners, Tynemouth

0191 625 0803

Next Steps?

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