2 Bed Flat, Refurb/BRRR, Whitley Bay, NE25 9RT, £145,000

Monks Avenue, West Monkseaton, NE25 9RT - 2 months ago

Sold STC
Leasehold
BTL
Refurb/BRRR
ROI: 2%
~62 m²
+6 photos

ValuationFair Value

Sold Prices£90K - £162.5K
Sold Prices/m²£1.4K/m² - £3.3K/m²

 

 

Square Metres

~61.75 m²
Price/m²£2.3K/m²

Value Estimate

£143,939

 

 

End Value (After Refurb)

£180,072

Uplift in Value

+24%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£36,250

Stamp Duty & Legal Fees

£8,850

Refurb Costs

£23,638

Bridging Loan Interest

£3,806

Total Cash In

£74,294

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£180,072

Mortgage (After Refinance)

£135,054

Mortgage LTV

75%

Cash Released

£26,304

Cash Left In

£47,990

Equity

£45,018

Rent Range

£690 - £1,300

Rent Estimate

£862

Running Costs/mo

£755

Cashflow/mo

£107

Cashflow/yr

£1,283

ROI

2%

Gross Yield

7%

Local Sold Prices

51 sold prices from £90K to £162.5K, average is £135K. £1.4K/m² to £3.3K/m², average is £2.3K/m².

PriceDateDistanceAddressBeds 
£157.5K01/230.04 mi58, Monks Avenue, Whitley Bay, Tyne And Wear NE25 9RT2
£150K07/230.13 mi12a, Fairfield Drive, Whitley Bay, Tyne And Wear NE25 9SL2
£135K03/210.16 mi8, Holm Green, Whitley Bay, Tyne And Wear NE25 9SQ2
£139.3K02/210.21 mi52a, Fairfield Green, Whitley Bay, Tyne And Wear NE25 9SD2
£101.5K12/200.24 mi12, Malcolm Court, Whitley Bay, Tyne And Wear NE25 8NN2
£112.5K01/210.24 mi6, Malcolm Court, Whitley Bay, Tyne And Wear NE25 8NN2
£115K05/230.24 mi8, Malcolm Court, Whitley Bay, Tyne And Wear NE25 8NN2
£146.5K11/220.25 mi80, Turnberry, Whitley Bay, Tyne And Wear NE25 9NZ2
£139.9K09/210.33 mi50, Briar Vale, Whitley Bay, Tyne And Wear NE25 9AZ2
£137.5K10/220.38 mi63, Briar Vale, Whitley Bay, Tyne And Wear NE25 9AZ2
£110K11/200.4 mi49, Closefield Grove, Whitley Bay, Tyne And Wear NE25 8SU2
£140K02/210.4 mi77, Closefield Grove, Whitley Bay, Tyne And Wear NE25 8SU2
£125K04/210.4 mi152, Closefield Grove, Whitley Bay, Tyne And Wear NE25 8SU2
£159.3K12/220.4 mi116, Closefield Grove, Whitley Bay, Tyne And Wear NE25 8SU2
£145K05/230.4 mi53, Closefield Grove, Whitley Bay, Tyne And Wear NE25 8SU2
£140K06/210.42 mi64, Cauldwell Lane, Whitley Bay, Tyne And Wear NE25 8LN2
£162.5K07/210.42 mi104, Turnberry, Whitley Bay, Tyne And Wear NE25 9NZ2
£125K04/210.42 mi80, Turnberry, Whitley Bay, Tyne And Wear NE25 9NZ2
£154.5K04/230.42 mi72, Turnberry, Whitley Bay, Tyne And Wear NE25 9NZ2
£155K07/230.42 mi84, Turnberry, Whitley Bay, Tyne And Wear NE25 9NZ2
£150K10/220.43 mi68, Turnberry, Whitley Bay, Tyne And Wear NE25 9NZ2
£128K01/210.44 mi16, Closefield Grove, Whitley Bay, Tyne And Wear NE25 8ST2
£128K01/210.44 mi14, Closefield Grove, Whitley Bay, Tyne And Wear NE25 8ST2
£135.4K03/230.44 mi17, Closefield Grove, Whitley Bay, Tyne And Wear NE25 8ST2
£135K07/230.44 mi16, Closefield Grove, Whitley Bay, Tyne And Wear NE25 8ST2
£123K11/200.48 mi14, Carnoustie Court, Whitley Bay, Tyne And Wear NE25 9EZ2
£132K12/200.48 mi18, Carnoustie Court, Whitley Bay, Tyne And Wear NE25 9EZ2
£148.5K11/200.48 mi37, Carnoustie Court, Whitley Bay, Tyne And Wear NE25 9EZ2
£118.5K02/210.48 mi40, Carnoustie Court, Whitley Bay, Tyne And Wear NE25 9EZ2
£129K01/210.48 mi26, Carnoustie Court, Whitley Bay, Tyne And Wear NE25 9EZ2
£155K09/210.48 mi38, Carnoustie Court, Whitley Bay, Tyne And Wear NE25 9EZ2
£141.5K03/210.48 mi25, Carnoustie Court, Whitley Bay, Tyne And Wear NE25 9EZ2
£135K06/230.48 mi3, Carnoustie Court, Whitley Bay, Tyne And Wear NE25 9EZ2
£135K06/230.48 mi3, Carnoustie Court, Whitley Bay, Tyne And Wear NE25 9EZ2
£150K12/220.48 mi8, Carnoustie Court, Whitley Bay, Tyne And Wear NE25 9EZ2
£138.5K04/210.48 mi34, Carnoustie Court, Whitley Bay, Tyne And Wear NE25 9EZ2
£161.9K08/230.49 mi11, Wilton Drive, Whitley Bay, Tyne And Wear NE25 9PU2
£132.5K06/210.54 mi48, Chathill Close, Whitley Bay, Tyne And Wear NE25 9LN2
£135K06/230.54 mi41, Chathill Close, Whitley Bay, Tyne And Wear NE25 9LN2
£90K11/200.56 mi10, Elford Close, Whitley Bay, Tyne And Wear NE25 9LW2
£90K11/200.56 mi10, Elford Close, Whitley Bay, Tyne And Wear NE25 9LW2
£130K12/220.56 mi14, Elford Close, Whitley Bay, Tyne And Wear NE25 9LW2
£127.5K09/230.59 mi98, Birkdale, Whitley Bay, Tyne And Wear NE25 9LZ2
£115K03/210.61 mi14, Birkdale, Whitley Bay, Tyne And Wear NE25 9LY2
£130K08/230.61 mi15, Birkdale, Whitley Bay, Tyne And Wear NE25 9LY2
£115K02/210.61 mi15, Birkdale, Whitley Bay, Tyne And Wear NE25 9LY2
£127.5K08/210.71 mi79, Kenilworth Road, Whitley Bay, Tyne And Wear NE25 8BB2
£127.5K05/210.78 mi41, Hepscott Drive, Whitley Bay, Tyne And Wear NE25 9XJ2
£99K10/200.78 mi24, Purbeck Close, North Shields, Tyne And Wear NE29 9QF2
£157K04/210.86 mi6, Beaumont Court, Whitley Bay, Tyne And Wear NE25 9TZ2
£159K06/210.86 mi9, Beaumont Court, Whitley Bay, Tyne And Wear NE25 9TZ2

Local Rents

30 rents from £690/mo to £1.3K/mo, average is £800/mo.

RentDateDistanceAddressBeds 
£79508/240.1 miFriars Rise, Monkseaton, Whitley Bay2
£90003/250.12 mi-2
£77505/240.12 miHolm Green, Whitley Bay2
£82507/240.12 mi-2
£80009/240.12 mi-2
£80006/240.12 miFairfield Drive, Whitley Bay, NE252
£69001/240.13 mi-2
£80006/240.24 miAthol Gardens, Whitley Bay2
£1,30011/240.27 mi-2
£1,30003/250.3 miNewlands, Whitley Bay2
£79508/240.35 miClosefield Grove, Whitley Bay, Tyne and Wear, NE25 8SU2
£95006/240.38 miTurnberry, West Monkseaton, Whitley Bay, Tyne and Wear, NE25 9NZ2
£89505/240.4 miTurnberry, Whitley Bay, Tyne and Wear, NE252
£80006/230.41 mi-2
£80008/240.41 mi-2
£80006/240.41 miTurnberry, Whitley Bay, NE252
£75001/240.42 mi-2
£79507/240.43 miTurnberry, Monkseaton2
£1,29503/250.45 mi-2
£79509/240.46 mi-2
£75007/240.48 miCarnoustie Court, Whitley Bay, NE252
£70007/240.48 miCarnoustie Court, Monkseaton2
£70008/240.48 miCarnoustie Court, Monkseaton2
£80012/240.48 miCarnousite Court, Monkseaton2
£97505/240.51 miThorntree Drive, Whitley Bay, Tyne and Wear, NE252
£1,05005/240.53 mi19 Uplands2
£81501/250.58 mi-2
£81502/250.58 mi-2
£90006/230.61 mi-2
£70007/240.61 miBirkdale, Whitley Bay2

Local Area Statistics

Population in NE25

29,936

Population in Whitley Bay

49,103

Town centre distance

0.89 miles away

Nearest school

0.10 miles away

Nearest train station

0.36 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

+11%

Sales demand

Seller's market

Capital growth (5yrs)

+35%

Property History

Listed for £145,000

February 7, 2025

Floor Plans

Description

  • TWO DOUBLE BEDROOMS +
  • FIRST FLOOR POSITION +
  • SUBSTANTIAL PRIVATE REAR GARDEN +
  • MODERN AND WELL SIZED BATHROOM +
  • THOUGHTFULLY DESIGNED KITCHEN WITH INTEGRAL PANTRY +
  • AVAILABLE WITH NO UPPER CHAIN +
  • IN NEED OF MODERNISATION +
  • PRIVATE ENTRANCE VESTIBULE +
  • SOUGHT AFTER RESIDENTIAL LOCATION +
  • WITHIN WALKING DISTANCE OF WEST MONKSEATON METRO STATION AND OTHER LOCAL AMENITIES +

BRIGHT AND SPACIOUS TWO BEDROOM FIRST FLOOR FLAT SITUATED WITHIN THIS POPULAR AREA OF WEST MONKSEATON - IN NEED OF MODERNISATION AND AVAILABLE WITH NO UPPER CHAIN

Brannen & Partners present to the market a wonderful opportunity to acquire this spacious two bedroom first floor flat, situated close to amenities in West Monkseaton. Benefitting from two good sized bedrooms, bright and airy living space, fitted kitchen and bathroom in addition to a substantial private rear garden. Appealing to a range of buyers including first time buyers, downsizers and buy to let investors.

Briefly comprising: Private entrance vestibule with stairs to the first floor landing. To the front of the home the living room is a bright and airy space due to its south facing position with a bay window overlooking the front of the property and archway connecting the open plan layout. The second bedroom of the two doubles sits adjacent to the living room, whilst the principal bedroom is tucked to the rear overlooking the rear garden.

Next, the modern and well sized bathroom is minimal in design presenting stone tiling and muted grey decor furnished with a WC, pedestal wash basin and bath with shower overhead. Completing the home the kitchen houses fitted units incorporating a sink and integral pantry, in addition to designated space for appliances and access to the rear staircase to the garden.

Externally to the rear is a substantial private garden benefitting from a large lawn and patio area in addition to an outbuilding for storage. Uninterrupted, the position of the garden ensures sun throughout the day.

West Monkseaton is a popular residential area with a good range of local amenities including shops, cafes and restaurants. This property is within walking distance to West Monkseaton Metro station providing excellent access to other coastal areas and Newcastle City centre. Whitley Bay is close by offering beautiful beaches and excellent schools.

Entrance Vestibule - 0.98 x 1.79 (3'2" x 5'10") -

Landing - 1.40 x 2.86 (4'7" x 9'4") -

Living Room - 3.44 x 3.40 (11'3" x 11'1") -

Kitchen - 3.18 x 2.33 (10'5" x 7'7") -

Bedroom One - 3.20 x 3.76 (10'5" x 12'4") -

Bedroom Two - 3.03 x 3.52 (9'11" x 11'6") -

Bathroom - 2.16 x 1.74 (7'1" x 5'8") -

Rear Lobby -

Rear Garden -

Tenure - Leasehold - Share of Freehold - 961 years remaining

Agent Details

Brannen & Partners, Tynemouth

0191 625 0803

Next Steps?

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