3 Bed Terraced House, Refurb/BRRR, South Shields, NE34 9AY, £60,000

28 Madras Street, South Shields NE34 9AY - 64 views - 2 months ago

Sold STC
BTL
Refurb/BRRR
ROI: 12%
~93 m²
+10 photos

ValuationUndervalued

Sold Prices£77.5K - £220K
Sold Prices/m²£914/m² - £2.4K/m²

 

 

Square Metres

~93 m²
Price/m²£645/m²

Value Estimate

£61,800
BMV3%

 

 

End Value (After Refurb)

£133,402

Uplift in Value

+122%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£15,000

Stamp Duty & Legal Fees

£3,000

Refurb Costs

£35,600

Bridging Loan Interest

£1,575

Total Cash In

£56,925

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Estimated Sale Price

£133,402

Agent Fees (1%)

£1,334

Bridging Loan

£45,000

Bridging Loan Interest

£1,575

Flip Profit

£30,143

Local Sold Prices

50 sold prices from £77.5K to £220K, average is £124.5K. £914/m² to £2.4K/m², average is £1.4K/m².

PriceDateDistanceAddressBeds 
£132.5K12/220.09 mi32, Fox Avenue, South Shields, Tyne And Wear NE34 9RN3
£110K12/210.12 mi26, Monkton Avenue, South Shields, Tyne And Wear NE34 9RX3
£110K10/230.12 mi73, Wenlock Road, South Shields, Tyne And Wear NE34 9BB3
£180K11/210.14 mi8, Colchester Street, South Shields, Tyne And Wear NE34 9AT3
£132K06/230.17 mi116, Brockley Avenue, South Shields, Tyne And Wear NE34 0TY3
£90K11/200.17 mi18, Foxglove Court, South Shields, Tyne And Wear NE34 0BH3
£133K03/240.17 mi3, Dovedale Court, South Shields, Tyne And Wear NE34 9EZ3
£165K12/220.18 mi18, Collin Drive, South Shields, Tyne And Wear NE34 9FE3
£105K11/230.18 mi41, Fox Avenue, South Shields, Tyne And Wear NE34 9RW3
£130K03/230.19 mi109, Wenlock Road, South Shields, Tyne And Wear NE34 9BD3
£99K11/200.23 mi68, Stoker Avenue, South Shields, Tyne And Wear NE34 9QZ3
£102.3K12/200.24 mi36, Richardson Avenue, South Shields, Tyne And Wear NE34 9RR3
£130K11/210.24 mi17, Edhill Avenue, South Shields, Tyne And Wear NE34 9BJ3
£170K03/240.26 mi35, Bainbridge Avenue, South Shields, Tyne And Wear NE34 9QT3
£95K06/210.27 mi14, Bedale Court, South Shields, Tyne And Wear NE34 9DA3
£200K02/240.28 mi33, Capulet Grove, South Shields, Tyne And Wear NE34 9AH3
£155K02/230.28 mi79, Dame Flora Robson Avenue, South Shields, Tyne And Wear NE34 9ED3
£110K02/210.28 mi18, Ranson Crescent, South Shields, Tyne And Wear NE34 9BL3
£186K11/200.32 mi28, Prensgarth Way, South Shields, Tyne And Wear NE34 9HD3
£130K09/230.33 mi13, Cloister Avenue, South Shields, Tyne And Wear NE34 9AQ3
£85K02/210.34 mi5, Eyemouth Court, South Shields, Tyne And Wear NE34 9BX3
£192K12/200.34 mi1, Fenwick Avenue, South Shields, Tyne And Wear NE34 9AJ3
£152.5K09/210.34 mi93, Dame Flora Robson Avenue, South Shields, Tyne And Wear NE34 9ED3
£104K03/240.34 mi81, Dame Flora Robson Avenue, South Shields, Tyne And Wear NE34 9ED3
£102K08/230.36 mi2, Hobart Avenue, South Shields, Tyne And Wear NE34 9DU3
£100K10/210.36 mi90, Kingsley Avenue, South Shields, Tyne And Wear NE34 9JA3
£120K02/230.36 mi126, Biddick Hall Drive, South Shields, Tyne And Wear NE34 0TW3
£220K09/220.37 mi15, Troutbeck Way, South Shields, Tyne And Wear NE34 9HE3
£165K06/210.38 mi32, Silverdale Way, South Shields, Tyne And Wear NE34 9HB3
£80K05/230.39 mi65, Belloc Avenue, South Shields, Tyne And Wear NE34 9HT3
£143K01/240.4 mi32, Drummond Crescent, South Shields, Tyne And Wear NE34 9QR3
£175K08/230.4 mi47, Drummond Crescent, South Shields, Tyne And Wear NE34 9QR3
£105K01/240.4 mi22, Simonside Hall, South Shields, Tyne And Wear NE34 9BW3
£124K03/230.4 mi124, Biddick Hall Drive, South Shields, Tyne And Wear NE34 0TW3
£215K07/230.4 mi6, Dykelands Way, South Shields, Tyne And Wear NE34 9HA3
£210K03/240.4 mi4, Dykelands Way, South Shields, Tyne And Wear NE34 9HA3
£137.5K06/210.41 mi30, Winskell Road, South Shields, Tyne And Wear NE34 9EH3
£145K07/210.41 mi13, Henderson Road, South Shields, Tyne And Wear NE34 9QN3
£98K10/210.43 mi28, Tasmania Road, South Shields, Tyne And Wear NE34 9DX3
£120K02/240.44 mi5, Colman Avenue, South Shields, Tyne And Wear NE34 9AB3
£91K04/230.44 mi17, Hazlitt Avenue, South Shields, Tyne And Wear NE34 9SX3
£120K06/210.45 mi115, Newcastle Road, South Shields, Tyne And Wear NE34 9AA3
£102.5K04/210.45 mi83, Newcastle Road, South Shields, Tyne And Wear NE34 9AA3
£83K12/230.46 mi34, Foss Way, South Shields, Tyne And Wear NE34 0BW3
£125K03/240.46 mi95, Newcastle Road, South Shields, Tyne And Wear NE34 9AA3
£105K09/230.46 mi39, Canberra Drive, South Shields, Tyne And Wear NE34 9EA3
£155K02/210.47 mi27, Westcliffe Way, South Shields, Tyne And Wear NE34 9HF3
£204K04/230.47 mi8, Westcliffe Way, South Shields, Tyne And Wear NE34 9HF3
£97.5K03/230.47 mi100, Chesterton Road, South Shields, Tyne And Wear NE34 9HJ3
£77.5K11/200.47 mi140, Belloc Avenue, South Shields, Tyne And Wear NE34 9HR3

Local Rents

21 rents from £585/mo to £3.3K/mo, average is £775/mo.

RentDateDistanceAddressBeds 
£3,30003/250.27 mi-3
£82503/250.27 mi-3
£2,35005/240.27 mi-3
£2,35007/240.27 mi-3
£2,35001/250.27 mi-3
£2,20002/250.27 mi-3
£65005/230.3 mi-3
£65005/230.3 mi-3
£69511/230.34 mi-3
£81612/240.35 mi-3
£77502/250.43 mi-3
£77511/240.48 mi-3
£75005/240.49 mi-3
£75005/240.49 mi-3
£75007/240.51 miWest Harton, South Shields, NE34 0BU3
£75007/240.51 miWest Harton, South Shields, NE34 0BU3
£79506/240.51 miWadham Terrace, South Shields, NE343
£79507/240.51 mi-3
£65005/240.53 miBrookes Walk, South Shields, Tyne And Wear 3
£58502/240.54 mi-3
£90003/250.57 mi-3

Local Area Statistics

Population in NE34

52,101

Population in South Shields

79,432

Town centre distance

1.47 miles away

Nearest school

0.20 miles away

Nearest train station

0.32 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+35%

Sales demand

Seller's market

Capital growth (5yrs)

+27%

Property History

Listed for £60,000

February 10, 2025

Floor Plans

Description

  • Mid-terraced house +
  • Three bedrooms +
  • Downstairs bathroom +
  • In need of renovation +
  • Two reception rooms +
  • Galley kitchen +
  • Rear access +
  • Freehold +
  • Suitable for owner occupier, developers or as buy to let investment +
  • Sold with vacant possession +

Overview

The property is a Victorian era build mid terraced house located in South Shields, Tyne and Wear.

The ground floor of the property comprises an entrance hall, two reception rooms, a galley kitchen and a family bathroom. The first floor comprises three bedrooms. Externally, there is a small yard that is accessible from the rear of the property.

The property would suit an owner occupier, an investor looking to add value through renovation's and/or development (STP) of the property, or as a buy to let investment.

Location

The property is located in South Shields, Tyne and Wear. South Shields is a coastal town situated at the mouth of the River Tyne. Known for its beautiful sandy beaches, rich maritime history, and vibrant cultural scene, the town offers attractions like Sandhaven Beach, Arbeia Roman Fort, and the scenic South Shields Pier.

The property has excellent road transport links with the John Reid Road 0.5 kilometres away leading on to the A19 Carriageway just 1.7 kilometres away.

Accommodation

Ground floor - 42m2 / 449ft2
First floor - 27m2 / 292ft2
Total - 69m2 / 741ft

Services

We understand the property has mains gas, electricity, water and drainage. No services or appliances have been tested by RPRS. Interested parties should make their own investigations.

Council Tax

The property is rated A by South Tyneside Council. Interested parties should make their own investigations.

EPC

D

Tenure

Freehold

Guide price

£60,000

Agent Details

RPRS, Covering London

020 3834 8283

Next Steps?

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