3 Bed Detached House, Refurb/BRRR, South Shields, NE34 0EH, £250,000

Otterburn Gardens, South Shields, NE34 0EH - 3 views - 3 months ago

Sold STC
Refurb/BRRR
~93 m²
+9 photos

ValuationOvervalued

Sold Prices£90K - £455K
Sold Prices/m²£833/m² - £4.4K/m²

 

 

Square Metres

~93 m²
Price/m²£2.7K/m²

Value Estimate

£189,244

 

 

End Value (After Refurb)

£228,750

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£62,500

Stamp Duty & Legal Fees

£8,700

Refurb Costs

£35,600

Bridging Loan Interest

£6,563

Total Cash In

£115,113

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£228,750

Mortgage (After Refinance)

£171,563

Mortgage LTV

75%

Cash Left In

£115,113

Equity

£57,188

Rent Range

£550 - £3,500

Rent Estimate

£891

Running Costs/mo

£913

Cashflow/mo

£-22

Cashflow/yr

£-265

Gross Yield

4%

Local Sold Prices

50 sold prices from £90K to £455K, average is £225K. £833/m² to £4.4K/m², average is £2.2K/m².

PriceDateDistanceAddressBeds 
£258K06/210.05 mi42, Meldon Avenue, South Shields, Tyne And Wear NE34 0EL3
£230K12/200.05 mi57, Meldon Avenue, South Shields, Tyne And Wear NE34 0EL3
£275.9K06/230.05 mi37, Meldon Avenue, South Shields, Tyne And Wear NE34 0EL3
£355K12/220.07 mi1, Mitford Road, South Shields, Tyne And Wear NE34 0EQ3
£235K10/200.07 mi46, Mitford Road, South Shields, Tyne And Wear NE34 0EQ3
£294.2K10/210.08 mi27, Harton Lane, South Shields, Tyne And Wear NE34 0EG3
£240K11/200.08 mi17, Harton Lane, South Shields, Tyne And Wear NE34 0EG3
£319K10/230.09 mi169, Temple Park Road, South Shields, Tyne And Wear NE34 0EN3
£325K12/200.09 mi148, King George Road, South Shields, Tyne And Wear NE34 0ET3
£175K10/210.1 mi14, Harton Lane, South Shields, Tyne And Wear NE34 0EF3
£322.5K06/240.11 mi103, West Avenue, South Shields, Tyne And Wear NE34 6BH3
£174K11/200.13 mi9, Windermere Crescent, South Shields, Tyne And Wear NE34 0DN3
£440K06/220.15 mi142, King George Road, South Shields, Tyne And Wear NE34 0ET3
£204K12/200.15 mi8, Rydal Gardens, South Shields, Tyne And Wear NE34 0EB3
£225K07/230.16 mi294, Mortimer Road, South Shields, Tyne And Wear NE34 0DL3
£210K11/200.16 mi195, Temple Park Road, South Shields, Tyne And Wear NE34 0EW3
£184.9K04/210.21 mi6, Moore Avenue, South Shields, Tyne And Wear NE34 6AA3
£455K07/230.21 mi82, King George Road, South Shields, Tyne And Wear NE34 0DT3
£249K09/230.22 mi6, Forster Avenue, South Shields, Tyne And Wear NE34 6NL3
£291.5K10/230.23 mi16, St Peters Avenue, South Shields, Tyne And Wear NE34 6NN3
£232K02/210.23 mi76, Harton Lane, South Shields, Tyne And Wear NE34 0PP3
£130K01/210.25 mi99, Temple Park Road, South Shields, Tyne And Wear NE34 0PR3
£225K02/210.26 mi41, Central Avenue, South Shields, Tyne And Wear NE34 6AY3
£184K02/210.27 mi222, Mortimer Road, South Shields, Tyne And Wear NE34 0DS3
£387.3K01/240.29 mi40, Central Avenue, South Shields, Tyne And Wear NE34 6AZ3
£100K03/230.29 mi14, Bardon Court, South Shields, Tyne And Wear NE34 0HN3
£375K10/210.3 mi31, King George Road, South Shields, Tyne And Wear NE34 0SR3
£225K01/230.3 mi20, South Avenue, South Shields, Tyne And Wear NE34 6RA3
£90K04/230.31 mi25, Bardon Court, South Shields, Tyne And Wear NE34 0HN3
£110K02/240.31 mi17, Hollingside Way, South Shields, Tyne And Wear NE34 0HX3
£206K08/210.32 mi139, Harton Lane, South Shields, Tyne And Wear NE34 0PW3
£255K11/200.32 mi102, St Marys Avenue, South Shields, Tyne And Wear NE34 6AG3
£215K02/210.34 mi19, Page Avenue, South Shields, Tyne And Wear NE34 0RX3
£159.9K11/200.36 mi184, Mortimer Road, South Shields, Tyne And Wear NE34 0RP3
£320K11/230.37 mi119, Sunderland Road, South Shields, Tyne And Wear NE34 6ND3
£210K03/210.37 mi58, Harton House Road, South Shields, Tyne And Wear NE34 6ED3
£137.5K10/210.37 mi17, South Avenue, South Shields, Tyne And Wear NE34 6QZ3
£210K09/210.37 mi23, South Avenue, South Shields, Tyne And Wear NE34 6QZ3
£150K02/210.39 mi33, Marsden Road, South Shields, Tyne And Wear NE34 6DF3
£268K09/230.39 mi50, Marsden Road, South Shields, Tyne And Wear NE34 6DF3
£195.5K03/210.41 mi22, Cauldwell Villas, South Shields, Tyne And Wear NE34 0RZ3
£140K07/210.41 mi54, Prince Edward Road, South Shields, Tyne And Wear NE34 8QA3
£230K12/210.41 mi75, Orchid Gardens, South Shields, Tyne And Wear NE34 8ER3
£170K04/230.42 mi45, Harton House Road, South Shields, Tyne And Wear NE34 6EE3
£247.9K05/210.42 mi21, Harton House Road, South Shields, Tyne And Wear NE34 6EE3
£425K08/220.42 mi2, Harton House Road, South Shields, Tyne And Wear NE34 6EE3
£235K09/230.42 mi103, Harton House Road, South Shields, Tyne And Wear NE34 6EB3
£176K02/210.42 mi88, Harton House Road, South Shields, Tyne And Wear NE34 6EB3
£180K08/230.42 mi106, Harton House Road, South Shields, Tyne And Wear NE34 6EB3
£135K01/210.43 mi16, Bisley Drive, South Shields, Tyne And Wear NE34 0PY3

Local Rents

50 rents from £550/mo to £3.5K/mo, average is £795/mo.

RentDateDistanceAddressBeds 
£80004/250.26 mi-3
£90005/240.42 miNorth Close, South Shields, Tyne And Wear, NE343
£79005/240.48 mi-3
£66503/250.52 mi-3
£62511/240.61 mi-3
£72512/240.62 mi-3
£60005/240.62 mi-3
£95005/240.64 miCentenary Avenue, South Shields3
£78512/240.66 mi-3
£90002/250.67 mi-3
£79506/240.69 miVine Street, South Shields3
£1,40001/250.69 mi-3
£80006/240.7 miWear Court, South Shields3
£1,00006/240.71 miRyedale Way, South Shields3
£1,80006/240.72 mi-3
£1,50012/240.72 mi-3
£65004/250.72 mi-3
£80010/240.73 mi-3
£65003/250.73 mi-3
£85005/240.73 mi-3
£97505/240.73 miEast Avenue, South Shields, NE343
£67507/240.75 miVine Street, South Shields3
£79505/240.75 mi-3
£80005/240.75 mi-3
£77505/240.75 mi-3
£95005/240.75 miEast Avenue, South Shields, NE343
£60006/240.75 miWest Park, South Shields, NE33 4RG3
£60007/240.75 miWest Park, South Shields, NE33 4RG3
£59504/250.76 mi-3
£55007/240.76 miStanhope Road, South Shields, Tyne and Wear, NE333
£1,20004/250.78 mi-3
£69512/240.79 miRavensworth Terrace, South Shields3
£60005/240.79 mi-3
£85007/240.79 miHorsley Vale, South Shields3
£75005/240.79 mi-3
£72003/240.8 miGordon Street, South Shields, Tyne And Wear, NE333
£58502/240.84 mi-3
£3,50004/250.85 mi-3
£1,80005/240.85 mi-3
£1,80004/240.85 mi-3
£79507/240.88 mi-3
£79506/240.88 miWadham Terrace, South Shields, NE343
£75007/240.89 miWest Harton, South Shields, NE34 0BU3
£75007/240.89 miWest Harton, South Shields, NE34 0BU3
£59005/240.91 miJohn Williamson Street, South Shields, Tyne And Wear, NE333
£87512/240.93 mi-3
£77501/250.93 mi-3
£2,00005/240.94 mi-3
£2,00007/240.94 mi-3
£75004/240.95 mi-3

Local Area Statistics

Population in NE34

52,101

Population in South Shields

79,432

Town centre distance

0.48 miles away

Nearest school

0.40 miles away

Nearest train station

0.88 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+35%

Sales demand

Seller's market

Capital growth (5yrs)

+27%

Property History

Listed for £250,000

February 1, 2025

Description

  • Three Bedroom Detached Home +
  • No Onward Chain +
  • Lots Of Potential +
  • Worcester Boiler Installed In October 2024 +
  • Well Maintained Gardens +
  • Desirable Location Of Harton +
  • Close To Local Amenities +

Nestled in the sought-after location of Harton, this charming detached house offers a fantastic opportunity for those seeking a spacious family home. Boasting three bedrooms and a generous living space, this property is bursting with potential for modernisation to create a bespoke living environment. The property is being offered with no onward chain, providing a seamless buying process for the lucky new owners.

Upon entering, you are greeted by a welcoming hallway that leads through to the well-proportioned living room, flooded with natural light. The kitchen leads through to the practical utility room, with the added benefit of a Worcester boiler recently installed in October 2024.

The first floor accommodates three bedrooms, all well-sized and peacefully overlooking the well-maintained gardens. In need of modernisation, this property provides a blank canvas for those looking to add their personal touch and create a dream home. Close proximity to local amenities ensures convenience for every-day living, making this property a truly desirable opportunity.

Outside, the property boasts well maintained gardens that provide a peaceful retreat for relaxation and outdoor enjoyment. The rear garden features a patio area, lawned garden, and additional gravelled space to the top, offering versatility. The driveway and garage provide ample parking space for multiple vehicles, ensuring convenience for homeowners and guests alike. With the perfect combination of spacious living accommodation, potential for modernisation, and a prime location, this property presents a unique opportunity not to be missed.

Agent Details

Conway Christie, South Tyneside

0191 905 2852

Next Steps?

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