2 Bed Flat, Single Let, Washington, NE37 1TN, £70,000

Lingmell, Albany, Washington, NE37 1TN - 5 views - 2 months ago

Sold STC
Leasehold
BTL
ROI: 13%
~68 m²
+9 photos

ValuationUndervalued

Sold Prices£40K - £275K
Sold Prices/m²£653/m² - £24.2K/m²

 

 

Square Metres

~68.11 m²
Price/m²£1K/m²

Value Estimate

£74,012
BMV6%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£17,500

Stamp Duty & Legal Fees

£4,700

Total Cash In

£22,200

 

 

Cash Out

 

Rent Range

£550 - £2,200

Rent Estimate

£603

Running Costs/mo

£359

Cashflow/mo

£244

Cashflow/yr

£2,924

ROI

13%

Gross Yield

10%

Local Sold Prices

32 sold prices from £40K to £275K, average is £66K. £653/m² to £24.2K/m², average is £1.1K/m².

PriceDateDistanceAddressBeds 
£59.5K02/210 mi8, Lingmell, Washington, Tyne And Wear NE37 1TN2
£50K11/220.02 mi1, Lingmell, Washington, Tyne And Wear NE37 1TN2
£85K09/230.05 mi55, Grizedale, Washington, Tyne And Wear NE37 1TZ2
£79.5K07/220.08 mi64, Lingmell, Washington, Tyne And Wear NE37 1TT2
£63.1K11/200.13 mi3, Drumaldrace, Washington, Tyne And Wear NE37 1SR2
£72.5K02/230.13 mi24, Drumaldrace, Washington, Tyne And Wear NE37 1SR2
£40K06/230.15 mi14, Mardale, Washington, Tyne And Wear NE37 1TH2
£80.5K10/220.16 mi6, Drumaldrace, Washington, Tyne And Wear NE37 1SR2
£74K04/230.2 mi8, Fell Close, Washington, Tyne And Wear NE37 1AX2
£62K05/230.34 mi10, Brackenway, Washington, Tyne And Wear NE37 1AW2
£60K09/220.34 mi8, Brackenway, Washington, Tyne And Wear NE37 1AW2
£80K11/220.35 mi34, Mickley Close, Willington Quay, Wallsend, Tyne And Wear NE28 6JJ2
£52K08/230.4 mi98, Bamburgh Close, Washington, Tyne And Wear NE38 0HR2
£72.5K12/230.44 mi30, Burnway, Washington, Tyne And Wear NE37 1BQ2
£67K12/230.44 mi40, Burnway, Washington, Tyne And Wear NE37 1BQ2
£71K01/230.46 mi37, Burnway, Washington, Tyne And Wear NE37 1BQ2
£60K01/230.48 mi9, Lumley Close, Washington, Tyne And Wear NE38 0HX2
£70K08/230.48 mi34, Westernmoor, Washington, Tyne And Wear NE37 1LP2
£52.5K08/220.49 mi116, Lumley Close, Washington, Tyne And Wear NE38 0HZ2
£70K06/230.49 mi131, Lumley Close, Washington, Tyne And Wear NE38 0HZ2
£55K06/220.58 mi8, Dunstanburgh Close, Washington, Tyne And Wear NE38 0JE2
£65K07/230.6 mi40, Donvale Road, Washington, Tyne And Wear NE37 1DQ2
£55K10/220.64 mi13, Witton Court, Washington, Tyne And Wear NE38 0JH2
£40K12/200.64 mi15, Witton Court, Washington, Tyne And Wear NE38 0JH2
£50K08/220.67 mi48, Warkworth Close, Washington, Tyne And Wear NE38 0JN2
£43K04/210.68 mi49, Newstead Court, Washington, Tyne And Wear NE38 7PF2
£72.5K07/230.71 mi89, Dilston Close, Washington, Tyne And Wear NE38 0HE2
£85K06/230.71 mi87, Dilston Close, Washington, Tyne And Wear NE38 0HE2
£67.5K03/210.73 mi5, Musgrave Terrace, Washington, Tyne And Wear NE38 7HR2
£67.5K03/210.78 mi5, Musgrave Terrace, Washington, Tyne And Wear NE38 7HR2
£275K12/200.85 mi20, Liberty Green, Washington, Tyne And Wear NE38 7UA2
£55K04/230.96 mi43, Laurens Court, Washington, Tyne And Wear NE37 2EE2

Local Rents

12 rents from £550/mo to £2.2K/mo, average is £723/mo.

RentDateDistanceAddressBeds 
£62505/240.08 mi-2
£62503/250.13 mi-2
£79511/240.13 mi-2
£82504/240.22 mi-2
£65007/240.28 mi62 Stridingedge2
£55005/240.45 mi-2
£62503/250.46 mi-2
£59512/240.51 miLumley Close, Washington, Tyne and Wear, NE38 0HX2
£2,20006/240.61 mi-2
£2,20006/240.61 mi-2
£2,20002/250.61 mi-2
£2,20003/250.61 mi-2

Local Area Statistics

Population in NE37

21,032

Population in Washington

52,264

Town centre distance

0.84 miles away

Nearest school

0.30 miles away

Nearest train station

3.10 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

+71%

Sales demand

Seller's market

Capital growth (5yrs)

+4%

Property History

Listed for £70,000

February 4, 2025

Floor Plans

Description

  • Two bedroom first floor flat +
  • Newly decorated and carpeted +
  • Garage in neighbouring block +
  • Two double bedrooms +
  • Spacious living room +
  • Fitted storage to both bedrooms +
  • Bright and airy throughout +
  • Abundance on street parking +
  • Close to transport links, shops, eateries and leisure facilities +
  • Call to view today +

Inviting offers between £70,000 and £75,000 for this two-bedroom flat is located on a quiet street, near major transport links, shops, and dining options. Recently updated, it offers a bright and spacious living area. The flat includes a living room, kitchen, two double bedrooms, and a bathroom. There is also a garage in a nearby block. Given its location and the recent revamp, we expect a lot of interest especially as the anticipated yield for rental purposes will be around 10%. Internally The property has a convenient entrance that offers space for coats and shoes, along with stairs leading to the landing. The landing provides access to a spacious living room, two double bedrooms, a fully tiled bathroom, and a storage cupboard for utilities. New carpet flows from the landing into the living room and bedrooms. The living room is generous in size, allowing for various freestanding furniture options, and a large window floods the space with natural light. An internal door leads to the kitchen. The kitchen is equipped with modern shaker-style wall and base units, complemented by contrasting laminate worktops. It features integrated appliances, including a double oven, an electric hob with an overhead extractor fan, a fridge/freezer, and space for a washing machine. Both bedrooms contain fitted cupboards that provide ample storage space. The bathroom features a three-piece suite, including a fitted bathtub with an overhead shower, a washbasin, and a low-level WC. The fully tiled washroom simplifies maintenance. Living Room - 4.58m x 3.48m (15'0" x 11'5") Kitchen - 2.03m x 2.69m (6'7" x 8'9") Bedroom One - 2.66m x 3.65m (8'8" x 11'11") Bedroom Two - 2.68m x 2.93m (8'9" x 9'7") Bathroom - 2.02m x 1.66m (6'7" x 5'5") Externally The property features a front garden with a well-kept lawn. There is a garage located in a nearby block, and ample on-street parking is available. Disclaimer Whilst we endeavour to ensure our sales particulars are accurate and reliable, they do not constitute or form part of an offer or any contract and none is to be relied upon as statements of representation or fact. Any services, systems and appliances listed in this specification have not been tested by WalkersXchange therefore we cannot give a guarantee as to their operating ability or efficiency. All measurements have been taken as a guide to prospective buyers only.

Agent Details

WalkersXchange, Sunniside & the North East

0191 743 9208

Next Steps?

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