2 Bed Flat, Single Let, Washington, NE38 9EQ, £65,000

Petteril, Washington, Tyne and Wear, NE38 9EQ - 2 months ago

Leasehold
Auction
BTL
ROI: 15%
~68 m²
+3 photos

ValuationUndervalued

Sold Prices£40K - £310K
Sold Prices/m²£515/m² - £24.2K/m²

 

 

Square Metres

~68.11 m²
Price/m²£954/m²

Value Estimate

£78,000
BMV20%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£16,250

Stamp Duty & Legal Fees

£4,450

Total Cash In

£20,700

 

 

Cash Out

 

Rent Range

£550 - £2,200

Rent Estimate

£600

Running Costs/mo

£343

Cashflow/mo

£257

Cashflow/yr

£3,083

ROI

15%

Gross Yield

11%

Local Sold Prices

50 sold prices from £40K to £310K, average is £72K. £515/m² to £24.2K/m², average is £1.2K/m².

PriceDateDistanceAddressBeds 
£63K06/220 mi6, Petteril, Rickleton, Washington, Tyne And Wear NE38 9EQ2
£65K11/210.07 mi50, Alwin, Washington, Tyne And Wear NE38 9EW2
£58K05/210.08 mi28, Wansbeck, Washington, Tyne And Wear NE38 9EF2
£65K07/230.14 mi40, Eddleston, Washington, Tyne And Wear NE38 9ED2
£75K08/220.51 mi11, Sandpiper Close, Washington, Tyne And Wear NE38 0EG2
£60K09/220.64 mi23, Pendle Close, Washington, Tyne And Wear NE38 0PZ2
£71K10/210.64 mi2, Teal Close, Washington, Tyne And Wear NE38 0EA2
£97.5K08/220.66 mi14, Burtree, Washington, Tyne And Wear NE38 0RA2
£75K07/230.71 mi40, Pendle Close, Washington, Tyne And Wear NE38 0PZ2
£310K09/220.99 mi12, The Hermitage, Chester Le Street, County Durham DH2 3RG2
£72.5K07/231.06 mi89, Dilston Close, Washington, Tyne And Wear NE38 0HE2
£85K06/231.06 mi87, Dilston Close, Washington, Tyne And Wear NE38 0HE2
£90K07/221.1 mi29, Chacombe, Washington, Tyne And Wear NE38 7HB2
£96.5K07/231.1 mi31, Chacombe, Washington, Tyne And Wear NE38 7HB2
£75K08/221.11 mi46, Southcroft, Washington, Tyne And Wear NE38 8RD2
£50K08/221.13 mi48, Warkworth Close, Washington, Tyne And Wear NE38 0JN2
£55K10/221.13 mi13, Witton Court, Washington, Tyne And Wear NE38 0JH2
£40K12/201.13 mi15, Witton Court, Washington, Tyne And Wear NE38 0JH2
£55K06/221.19 mi8, Dunstanburgh Close, Washington, Tyne And Wear NE38 0JE2
£70K06/211.23 mi19, Biddick Village Centre, Washington, Tyne And Wear NE38 7NP2
£82K03/231.23 mi35, Biddick Village Centre, Washington, Tyne And Wear NE38 7NP2
£68K05/211.23 mi19, Broadmeadows, Washington, Tyne And Wear NE38 8RQ2
£61K11/211.25 mi64, Broadmeadows, Washington, Tyne And Wear NE38 8RH2
£64K05/221.28 mi66, Newriggs, Washington, Tyne And Wear NE38 8RT2
£60K01/231.3 mi9, Lumley Close, Washington, Tyne And Wear NE38 0HX2
£52.5K08/221.3 mi116, Lumley Close, Washington, Tyne And Wear NE38 0HZ2
£70K06/231.3 mi131, Lumley Close, Washington, Tyne And Wear NE38 0HZ2
£52K08/231.37 mi98, Bamburgh Close, Washington, Tyne And Wear NE38 0HR2
£116K12/221.41 mi25, Lyndhurst Avenue, Chester Le Street, County Durham DH3 4AR2
£115K04/221.41 mi23, Lyndhurst Avenue, Chester Le Street, County Durham DH3 4AR2
£61K06/211.47 mi32, Hogarth Drive, Washington, Tyne And Wear NE38 7LB2
£64.5K10/201.47 mi34, Hogarth Drive, Washington, Tyne And Wear NE38 7LB2
£72K08/221.47 mi13, Hogarth Drive, Washington, Tyne And Wear NE38 7LB2
£68K03/231.49 mi66, Hogarth Drive, Washington, Tyne And Wear NE38 7LT2
£43K04/211.52 mi49, Newstead Court, Washington, Tyne And Wear NE38 7PF2
£93.5K06/221.56 mi102, Highfield Rise, Chester Le Street, County Durham DH3 3UY2
£90K07/231.56 mi120, Highfield Rise, Chester Le Street, County Durham DH3 3UY2
£94.5K11/221.56 mi106, Highfield Rise, Chester Le Street, County Durham DH3 3UY2
£80.5K10/221.68 mi6, Drumaldrace, Washington, Tyne And Wear NE37 1SR2
£85K03/211.68 mi17, Morris Street, Birtley, Chester Le Street, Tyne And Wear DH3 1DU2
£72K09/221.69 mi17, Emmerson Terrace, Washington, Tyne And Wear NE38 7LN2
£70K08/231.71 mi34, Westernmoor, Washington, Tyne And Wear NE37 1LP2
£80K11/221.71 mi34, Mickley Close, Willington Quay, Wallsend, Tyne And Wear NE28 6JJ2
£63.1K11/201.71 mi3, Drumaldrace, Washington, Tyne And Wear NE37 1SR2
£72.5K02/231.71 mi24, Drumaldrace, Washington, Tyne And Wear NE37 1SR2
£120K02/231.73 mi43, Sandringham Court, Chester Le Street, County Durham DH3 3SQ2
£100K03/231.73 mi32, Sandringham Court, Chester Le Street, County Durham DH3 3SQ2
£104K07/211.73 mi38, Sandringham Court, Chester Le Street, Durham DH3 3SQ2
£100K04/231.73 mi42, Sandringham Court, Chester Le Street, County Durham DH3 3SQ2
£125.1K06/221.73 mi11, Sandringham Court, Chester Le Street, County Durham DH3 3SQ2

Local Rents

18 rents from £550/mo to £2.2K/mo, average is £713/mo.

RentDateDistanceAddressBeds 
£70012/240.66 miHelvellyn Avenue, Lambton2
£67509/240.73 mi-2
£65012/240.77 miPortobello Terrace, Birtley, Chester Le Street, Chester Le Street, DH3 2JS2
£75012/240.83 mi-2
£80004/250.83 mi-2
£72512/240.94 miLaxford, Birtley, Chester Le Street2
£76004/250.95 mi-2
£75012/240.99 miRenfrew Place, Birtley2
£59512/240.99 mi-2
£60012/241.02 miMitford Close, Oxclose, Washington, NE382
£65012/241.05 miDorset Avenue, Birtley, Chester Le Street, County Durham, DH32
£61505/241.13 miSouthcroft, Fatfield, Washington2
£55012/241.16 miYork Road, Birtley, Chester Le Street2
£2,20006/241.17 mi-2
£2,20006/241.17 mi-2
£2,20002/251.17 mi-2
£2,20003/251.17 mi-2
£62505/241.2 mi-2

Local Area Statistics

Population in NE38

31,232

Population in Washington

52,264

Town centre distance

1.67 miles away

Nearest school

0.30 miles away

Nearest train station

2.18 miles away

 

 

Rental growth (12m)

+35%

Sales demand

Seller's market

Capital growth (5yrs)

+7%

Property History

Listed for £65,000

February 18, 2025

Floor Plans

Description

  • EPC C +
  • COUNCIL TAX BAND A +
  • For Sale by Modern Auction – T & C’s apply +
  • Subject to Reserve Price +
  • Buyers fees apply +
  • The Modern Method of Auction +

A well-maintained two-bedroom flat currently on the market for sale. This property is in good condition and is ideally suited for couples, situated in a quiet and peaceful neighbourhood.

This flat boasts of a spacious reception room featuring large windows that allow in ample natural light, creating an inviting and bright atmosphere. The reception room is perfect for relaxation or hosting guests, ensuring you have the space you need to create a welcoming environment.

The property offers two bedrooms, one of which is a double room and the other a single. This makes it an ideal choice for couples, with the flexibility to use the second bedroom as a guest room, study, or anything you desire.

Also included in the layout is a functional kitchen, equipped to cater to your culinary needs.

The flat is served by a single bathroom, providing convenient facilities to meet your everyday needs.

This property is situated in a location benefiting from excellent public transport links, making commuting a breeze. Local amenities are within easy reach, and nearby parks offer great outdoor spaces for recreation and relaxation.

The property falls under Council Tax Band A, making it an affordable choice in terms of local taxation.

In summary, this flat provides a fantastic opportunity to acquire a property ready to live in, with its good condition, convenient facilities, and prime location. Don't miss out on this opportunity, and book a viewing today.

Auctioneer Comments
This property is for sale by Modern Method of Auction allowing the buyer and seller to complete within a 56 Day Reservation
Period. Interested parties’ personal data will be shared with the Auctioneer (iamsold Ltd).
If considering a mortgage, inspect and consider the property carefully with your lender before bidding. A Buyer Information
Pack is provided, which you must view before bidding. The buyer is responsible for the Pack fee. For the most recent
information on the Buyer Information Pack fee, please contact the iamsold team.
The buyer signs a Reservation Agreement and makes payment of a Non-Refundable Reservation Fee of 4.5% of the purchase
price inc VAT, subject to a minimum of £6,600 inc. VAT. This Fee is paid to reserve the property to the buyer during the
Reservation Period and is paid in addition to the purchase price. The Fee is considered within calculations for stamp duty.
Services may be recommended by the Agent/Auctioneer in which they will receive payment from the service provider if the
service is taken. Payment varies but will be no more than £960 inc. VAT. These services are optional.

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.

CST250056/2

Agent Details

Reeds Rains, Chester le Street

0191 625 0992

Next Steps?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪