3 Bed Terraced House, Refurb/BRRR, Cramlington, NE23 8EE, £110,000

Langdale Drive, Cramlington, Northumberland, NE23 8EE - 16 views - 2 months ago

Refurb/BRRR

ROI: 5%

~93 m²

+6 photos

ValuationFair Value

Sold Prices	£89.3K - £245K
Sold Prices/m²	£1.1K/m² - £2.7K/m²

Square Metres	~93 m²
Price/m²	£1.2K/m²
Value Estimate	£112,200£112,200

End Value (After Refurb)	£166,180£166,180
Uplift in Value	+51%+51%

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£27,500£27,500
Stamp Duty & Legal Fees	£4,500£4,500
Refurb Costs	£35,600£35,600
Bridging Loan Interest	£2,888£2,888
Total Cash In	£72,238£72,238

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£166,180£166,180
Mortgage (After Refinance)	£124,635£124,635
Mortgage LTV	75%75%
Cash Released	£42,135£42,135
Cash Left In	£30,102£30,102
Equity	£41,545£41,545
Rent Range	£850 - £1,600£850 - £1,600
Rent Estimate	£1,078
Running Costs/mo	£755£755
Cashflow/mo	£323£323
Cashflow/yr	£3,877£3,877
ROI	5%5%
Gross Yield	12%12%

Local Sold Prices

50 sold prices from £89.3K to £245K, average is £148.5K. £1.1K/m² to £2.7K/m², average is £1.8K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£125K	02/23	0.06 mi	31, Langdale Drive, Cramlington, Northumberland NE23 8EE	£1,712	73	3	Terraced House
£140K	11/23	0.06 mi	26, Southwold Place, Cramlington, Northumberland NE23 8HE	£2,000	70	3	Terraced House
£135K	08/24	0.08 mi	9, Ladykirk Way, Cramlington, Northumberland NE23 8DU	-	-	3	Terraced House
£190K	03/23	0.09 mi	32, Lindsey Close, Cramlington, Northumberland NE23 8EJ	£2,317	82	3	Terraced House
£131K	12/23	0.1 mi	7, Sudbury Way, Cramlington, Northumberland NE23 8HG	£1,963	67	3	Semi-Detached House
£152K	10/23	0.1 mi	23, Sudbury Way, Cramlington, Northumberland NE23 8HG	-	-	3	Semi-Detached House
£115K	09/21	0.12 mi	1, Lytham Close, Cramlington, Northumberland NE23 8EB	£1,292	89	3	Terraced House
£89.3K	11/20	0.12 mi	3, Lytham Close, Cramlington, Northumberland NE23 8EB	£1,050	85	3	Terraced House
£136K	06/23	0.13 mi	32, Shiel Gardens, Cramlington, Northumberland NE23 8HJ	£1,789	76	3	Terraced House
£125K	08/23	0.14 mi	23, Lochcraig Place, Cramlington, Northumberland NE23 8DB	£1,671	75	3	Terraced House
£155K	01/24	0.15 mi	9, Stratford Close, Cramlington, Northumberland NE23 8HW	-	-	3	Semi-Detached House
£155K	01/24	0.15 mi	9, Stratford Close, Cramlington, Northumberland NE23 8HW	-	-	3	Semi-Detached House
£96.5K	11/20	0.18 mi	41, Loughrigg Avenue, Cramlington, Northumberland NE23 8DW	£1,206	80	3	Terraced House
£90.5K	06/21	0.18 mi	33, Loughrigg Avenue, Cramlington, Northumberland NE23 8DW	£1,098	82	3	Terraced House
£130K	02/21	0.18 mi	6, Selborne Close, Cramlington, Northumberland NE23 8HL	£1,757	74	3	Semi-Detached House
£125K	03/21	0.2 mi	78, Sudbury Way, Cramlington, Northumberland NE23 8HH	£1,645	76	3	Semi-Detached House
£108K	04/23	0.22 mi	40, Longridge Way, Cramlington, Northumberland NE23 8DQ	-	-	3	Terraced House
£192.5K	05/21	0.22 mi	111, Langdale Drive, Cramlington, Northumberland NE23 8EW	£2,026	95	3	Terraced House
£175K	09/23	0.22 mi	99, Langdale Drive, Cramlington, Northumberland NE23 8EN	-	-	3	Semi-Detached House
£125K	08/23	0.4 mi	95, Arcot Avenue, Nelson Village, Cramlington, Northumberland NE23 1EZ	-	-	3	Semi-Detached House
£115.5K	10/20	0.45 mi	65, Arcot Avenue, Nelson Village, Cramlington, Northumberland NE23 1EY	£1,179	98	3	Semi-Detached House
£237.5K	11/22	0.52 mi	26, Mirlaw Road, Cramlington, Northumberland NE23 6TY	-	-	3	Semi-Detached House
£205K	08/21	0.53 mi	5, Morwick Close, Cramlington, Northumberland NE23 6UE	£2,697	76	3	Semi-Detached House
£162.5K	07/23	0.57 mi	11, Arcot Avenue, Nelson Village, Cramlington, Northumberland NE23 1EX	£1,711	95	3	Semi-Detached House
£140K	12/22	0.58 mi	39, Blagdon Crescent, Nelson Village, Cramlington, Northumberland NE23 1HJ	£1,687	83	3	Semi-Detached House
£238.5K	12/22	0.61 mi	3, Megstone Avenue, Cramlington, Northumberland NE23 6TU	£2,484	96	3	Semi-Detached House
£180K	12/22	0.61 mi	25, Megstone Avenue, Cramlington, Northumberland NE23 6TU	£2,143	84	3	Terraced House
£142K	06/21	0.61 mi	9, Herdlaw, Cramlington, Northumberland NE23 6AH	£1,893	75	3	Terraced House
£182K	05/24	0.61 mi	8, Herdlaw, Cramlington, Northumberland NE23 6AH	-	-	3	Terraced House
£120K	11/21	0.62 mi	39, Sunnyside, Cramlington, Northumberland NE23 6UU	-	-	3	Semi-Detached House
£168K	04/21	0.68 mi	7, Hareside, Cramlington, Northumberland NE23 6BH	-	-	3	Semi-Detached House
£192.5K	02/23	0.68 mi	1, Hareside, Cramlington, Northumberland NE23 6BH	-	-	3	Detached House
£145K	06/21	0.69 mi	15, Harnham Grove, Cramlington, Northumberland NE23 6AG	-	-	3	Terraced House
£225K	02/21	0.71 mi	27, Harnham Grove, Cramlington, Northumberland NE23 6AQ	£2,528	89	3	Detached House
£135K	01/21	0.73 mi	38, Highburn, Cramlington, Northumberland NE23 6BG	£1,688	80	3	Terraced House
£215K	07/24	0.77 mi	15, Newlyn Drive, Cramlington, Northumberland NE23 1RL	-	-	3	Semi-Detached House
£160K	10/20	0.8 mi	13, West Farm Court, Cramlington, Northumberland NE23 1AX	£1,616	99	3	Semi-Detached House
£192K	10/23	0.8 mi	18, West Farm Court, Cramlington, Northumberland NE23 1AX	-	-	3	Terraced House
£177K	05/21	0.8 mi	79, Highburn, Cramlington, Northumberland NE23 6BA	£1,463	121	3	Semi-Detached House
£211K	01/24	0.81 mi	12, Debdon Place, Cramlington, Northumberland NE23 6DH	-	-	3	Semi-Detached House
£138K	05/23	0.82 mi	39, Newlyn Drive, Cramlington, Northumberland NE23 1RH	£1,769	78	3	Terraced House
£180K	04/21	0.84 mi	22, Northolt Avenue, Cramlington, Northumberland NE23 1RJ	£2,093	86	3	Semi-Detached House
£245K	09/23	0.84 mi	13, Northolt Avenue, Parkside Chase, Cramlington, Northumberland NE23 1RJ	£2,692	91	3	Detached House
£180K	08/23	0.84 mi	12, Nairn Road, Cramlington, Northumberland NE23 1RQ	-	-	3	Semi-Detached House
£115K	04/23	0.84 mi	17, Debdon Place, Cramlington, Northumberland NE23 6DJ	£1,264	91	3	Terraced House
£125K	11/22	0.85 mi	23, Falmouth Walk, Cramlington, Northumberland NE23 1RU	£1,812	69	3	Semi-Detached House
£116K	03/24	0.86 mi	43, Alexandra Way, Cramlington, Northumberland NE23 6EA	-	-	3	Terraced House
£132.9K	02/21	0.87 mi	19, Needham Place, Cramlington, Northumberland NE23 1RF	£2,045	65	3	Terraced House
£165K	02/21	0.9 mi	12, Dewley, Cramlington, Northumberland NE23 6DS	£1,897	87	3	Semi-Detached House
£156K	01/24	0.9 mi	2, Fareham Way, Cramlington, Northumberland NE23 1TB	-	-	3	Terraced House

Local Rents

24 rents from £850/mo to £1.6K/mo, average is £1.1K/mo.

Rent	Date	Distance	Address	Beds	Type
£990	07/24	0.14 mi	-	3	Terraced House
£1,200	05/24	0.33 mi	Lavender Way, West Meadows, Cramlington	3	Flat
£1,025	05/24	0.33 mi	Clematis Court, West Meadows, Cramlington	3	Flat
£1,050	05/24	0.33 mi	Clematis Court, West Meadows, Cramlington	3	Terraced House
£1,050	05/24	0.33 mi	Clematis Court, West Meadows, Cramlington	3	Flat
£1,050	05/24	0.33 mi	Clematis Court, West Meadows, Cramlington	3	Detached House
£1,050	05/24	0.33 mi	Clematis Court, West Meadows, Cramlington	3	Flat
£1,025	05/24	0.33 mi	Clematis Court, Cramlington	3	Detached House
£1,000	06/24	0.33 mi	Clematis Court, West Meadows, Cramlington	3	Terraced House
£995	07/24	0.33 mi	Bluebell Close, West Meadows, Cramlington	3	Terraced House
£1,200	07/24	0.33 mi	Clematis Court, West Meadows, Cramlington	3	Semi-Detached House
£1,200	07/24	0.34 mi	Lavender Way, West Meadows, Cramlington	3	Terraced House
£995	05/24	0.35 mi	Lavender Way, Cramlington	3	Detached House
£1,200	06/24	0.38 mi	3 bedroom Terraced House in Lavender Way, Cramlington	3	Terraced House
£1,200	07/24	0.38 mi	3 bedroom End of Terrace House in Clematis Court, Cramlington	3	Terraced House
£1,600	05/24	0.4 mi	Old Crow Hall Lane, Cramlington, Northumberland, NE23 1BN	3	Flat
£1,200	05/24	0.45 mi	Lavender Way, West Meadows, Cramlington	3	Flat
£1,200	07/24	0.57 mi	Elder Drive, West Meadows, Cramlington, NE23	3	Terraced House
£1,100	07/24	0.57 mi	Holly Way, West Meadows, Cramlington, NE23	3	Terraced House
£850	07/24	0.6 mi	-	3	Terraced House
£850	07/24	0.6 mi	Monkside, Cramlington, NE23	3	Terraced House
£1,000	07/24	0.61 mi	Littlestone Wynd, The Fairways, Cramlington, Newcastle Upon Tyne, NE23	3	Terraced House
£950	02/25	0.61 mi	-	3	Terraced House
£900	05/24	0.61 mi	Harwood Close, Cramlington, Northumberland, NE23 6AW	3	Terraced House

Local Area Statistics

Population in NE23	39,16239,162
Population in Cramlington	39,22639,226
Town centre distance	0.56 miles away0.56 miles away
Nearest school	0.80 miles away0.80 miles away
Nearest train station	0.32 miles away0.32 miles away

Rental demand	Tenant's marketTenant's market
Rental growth (12m)	-10%-10%
Sales demand	Seller's marketSeller's market
Capital growth (5yrs)	+31%+31%

Property History

Listed for £110,000

February 11, 2025

Floor Plans

Description

Although in need of some updating, this three bedroom mid terrace property has the potential to offer great accommodation for a first time buyer, young family or a rental opportunity. Features include gas central heating, kitchen.diner and gardens front and rear. The location is handy for access to Cramilington Town Centre and Manor Walks precinct offering a wide range of shopping and leisure facilities, and the A1 is a short drive away for easy commuting links.
The accommodation comprises of an entrance lobby leading to the hallway. Lounge and open plan dining room and kitchen, three bedrooms and a bathroom. Externally there is a small garden to the front and a garden to the rear

Council Tax Band: A
Tenure: Freehold

Agent Details

Pattinson Estate Agents, Cramlington

01670 332737

Next Steps?

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