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

Donvale Road, Washington, Tyne and Wear, NE37 1DQ - 5 views - 2 months ago

Sold STC

Leasehold

BTL

ROI: 15%

~68 m²

+1 photos

ValuationUndervalued

Sold Prices	£40K - £156K
Sold Prices/m²	£867/m² - £24.2K/m²

Square Metres	~68.11 m²
Price/m²	£1K/m²
Value Estimate	£84,700£84,700
BMV	21%

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£17,500£17,500
Stamp Duty & Legal Fees	£3,300£3,300
Total Cash In	£20,800£20,800

Cash Out
Rent Range	£550 - £850£550 - £850
Rent Estimate	£628
Running Costs/mo	£364£364
Cashflow/mo	£264£264
Cashflow/yr	£3,164£3,164
ROI	15%15%
Gross Yield	11%11%

Local Sold Prices

23 sold prices from £40K to £156K, average is £71K. £867/m² to £24.2K/m², average is £1.3K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£65K	07/23	0.01 mi	40, Donvale Road, Washington, Tyne And Wear NE37 1DQ	£1,128	58	2	Flat
£72.5K	12/23	0.32 mi	30, Burnway, Washington, Tyne And Wear NE37 1BQ	£1,343	54	2	Flat
£67K	12/23	0.32 mi	40, Burnway, Washington, Tyne And Wear NE37 1BQ	-	-	2	Flat
£60K	09/22	0.35 mi	8, Brackenway, Washington, Tyne And Wear NE37 1AW	£1,071	56	2	Flat
£62K	05/23	0.35 mi	10, Brackenway, Washington, Tyne And Wear NE37 1AW	£1,550	40	2	Flat
£71K	01/23	0.37 mi	37, Burnway, Washington, Tyne And Wear NE37 1BQ	£1,325	54	2	Flat
£74K	04/23	0.44 mi	8, Fell Close, Washington, Tyne And Wear NE37 1AX	-	-	2	Flat
£40K	06/23	0.48 mi	14, Mardale, Washington, Tyne And Wear NE37 1TH	-	-	2	Flat
£79.5K	07/22	0.53 mi	64, Lingmell, Washington, Tyne And Wear NE37 1TT	-	-	2	Flat
£50K	11/22	0.58 mi	1, Lingmell, Washington, Tyne And Wear NE37 1TN	-	-	2	Flat
£59.5K	02/21	0.6 mi	8, Lingmell, Washington, Tyne And Wear NE37 1TN	£1,102	54	2	Flat
£90K	08/21	0.62 mi	15, Ferndale Terrace, Gateshead, Tyne And Wear NE9 7RH	£1,667	54	2	Flat
£90K	08/21	0.62 mi	15, Ferndale Terrace, Gateshead, Tyne And Wear NE9 7RH	£1,667	54	2	Flat
£156K	08/23	0.62 mi	2, Ferndale Terrace, Gateshead, Tyne And Wear NE9 7RH	£1,805	86	2	Flat
£72.5K	02/23	0.64 mi	24, Drumaldrace, Washington, Tyne And Wear NE37 1SR	£24,167	3	2	Flat
£63.1K	11/20	0.64 mi	3, Drumaldrace, Washington, Tyne And Wear NE37 1SR	£1,539	41	2	Flat
£85K	09/23	0.64 mi	55, Grizedale, Washington, Tyne And Wear NE37 1TZ	£1,667	51	2	Flat
£80.5K	10/22	0.67 mi	6, Drumaldrace, Washington, Tyne And Wear NE37 1SR	-	-	2	Flat
£80K	11/22	0.68 mi	34, Mickley Close, Willington Quay, Wallsend, Tyne And Wear NE28 6JJ	£941	85	2	Flat
£70K	08/23	0.76 mi	34, Westernmoor, Washington, Tyne And Wear NE37 1LP	£1,129	62	2	Flat
£55K	04/23	0.95 mi	43, Laurens Court, Washington, Tyne And Wear NE37 2EE	£982	56	2	Flat
£107K	11/20	0.99 mi	9, Thomas Street, Eighton Banks, Gateshead, Tyne And Wear NE9 7YA	£1,814	59	2	Flat
£52K	08/23	0.99 mi	98, Bamburgh Close, Washington, Tyne And Wear NE38 0HR	£867	60	2	Flat

Local Rents

10 rents from £550/mo to £850/mo, average is £735/mo.

Rent	Date	Distance	Address	Beds	Type
£800	05/24	0.27 mi	Donridge, Washington, Tyne and Wear, NE37 1EW	2	Flat
£550	05/24	0.32 mi	-	2	Flat
£775	02/24	0.41 mi	-	2	Terraced House
£675	06/24	0.44 mi	Kings Terrace, Springwell Village	2	Terraced House
£850	07/24	0.44 mi	Wingrove Terrace, Springwell, Gateshead	2	Terraced House
£625	05/24	0.53 mi	-	2	Flat
£650	11/24	0.55 mi	-	2	Semi-Detached House
£825	04/24	0.55 mi	-	2	Semi-Detached House
£695	06/24	0.55 mi	Coach Road Estate, Washington	2	Semi-Detached House
£775	06/24	0.57 mi	Albion Terrace, Gateshead	2	Terraced House

Local Area Statistics

Population in NE37	21,03221,032
Population in Washington	52,26452,264
Town centre distance	1.30 miles away1.30 miles away
Nearest school	0.40 miles away0.40 miles away
Nearest train station	2.50 miles away2.50 miles away

Rental demand	Tenant's marketTenant's market
Rental growth (12m)	+71%+71%
Sales demand	Seller's marketSeller's market
Capital growth (5yrs)	+4%+4%

Property History

Listed for £70,000

February 4, 2025

Floor Plans

Description

Two Bedroom Upper Floor Flat +
Modern Throughout +
Council Tax Band A +
Floor Plan Approximately 60 Sq. M / 645 Sq. Ft +
EPC Rating C +

A superbly fitted and immaculately presented two bedroom upper floor flat. The accommodation includes an attractive kitchen, modern shower room, and neutral décor throughout.

The accommodation briefly comprises: A secured communal entrance with secure intercom entry. First floor landing leading to a private entrance hall. Two double bedrooms, modern shower room, spacious lounge and an attractive kitchen.

Located in Donwell, Donvale Road is convenient for local bus routes and major road networks. There are local shops and pubs as well as easy access to The Galleries shopping centre, leisure complex and travel hub.

IMPORTANT NOTE TO POTENTIAL PURCHASERS & TENANTS:
We endeavour to make our particulars accurate and reliable, however, 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. The services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency is given. All photographs and measurements have been taken as a guide only and are not precise. Floor plans where included are not to scale and accuracy is not guaranteed. If you require clarification or further information on any points, please contact us, especially if you are traveling some distance to view. POTENTIAL PURCHASERS: Fixtures and fittings other than those mentioned are to be agreed with the seller. POTENTIAL TENANTS: All properties are available for a minimum length of time, with the exception of short term accommodation. Please contact the branch for details. A security deposit of at least one month’s rent is required. Rent is to be paid one month in advance. It is the tenant’s responsibility to insure any personal possessions. Payment of all utilities including water rates or metered supply and Council Tax is the responsibility of the tenant in most cases.

QWS250047/2