2 Bed Flat, Cash/Bridging Only, South Shields, NE33 3EZ, £60,000

Coleridge Avenue, South Shields, Tyne and Wear, NE33 3EZ - 2 months ago

Leasehold
Auction
Cash
ROI: 7%
~68 m²
+6 photos

ValuationFair Value

Sold Prices£48K - £152K
Sold Prices/m²£727/m² - £1.9K/m²

 

 

Square Metres

~68.11 m²
Price/m²£881/m²

Value Estimate

£61,200

 

 

End Value (After Refurb)

£86,149

Uplift in Value

+44%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£15,000

Stamp Duty & Legal Fees

£4,200

Refurb Costs

£26,000

Bridging Loan Interest

£1,575

Total Cash In

£48,525

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£86,149

Mortgage (After Refinance)

£64,612

Mortgage LTV

75%

Cash Released

£19,612

Cash Left In

£28,913

Equity

£21,537

Rent Range

£475 - £1,900

Rent Estimate

£701

Running Costs/mo

£429

Cashflow/mo

£272

Cashflow/yr

£3,259

ROI

7%

Gross Yield

14%

Local Sold Prices

50 sold prices from £48K to £152K, average is £79.5K. £727/m² to £1.9K/m², average is £1.1K/m².

PriceDateDistanceAddressBeds 
£79K04/210.02 mi7, Readhead Avenue, South Shields, Tyne And Wear NE33 3AW2
£85K09/210.04 mi15, Coleridge Avenue, South Shields, Tyne And Wear NE33 3EZ2
£75.5K07/210.04 mi9, Coleridge Avenue, South Shields, Tyne And Wear NE33 3EZ2
£85K10/230.04 mi24, Coleridge Avenue, South Shields, Tyne And Wear NE33 3EZ2
£65K09/210.05 mi28, St Vincent Street, South Shields, Tyne And Wear NE33 3AR2
£80K07/230.05 mi22, St Vincent Street, South Shields, Tyne And Wear NE33 3AR2
£75K10/200.05 mi29, St Vincent Street, South Shields, Tyne And Wear NE33 3AR2
£87K12/200.05 mi62, St Vincent Street, South Shields, Tyne And Wear NE33 3AR2
£74K05/230.05 mi42, St Vincent Street, South Shields, Tyne And Wear NE33 3AR2
£120K01/230.06 mi33, Ingham Grange, South Shields, Tyne And Wear NE33 3JJ2
£62.3K05/210.06 mi24, Ingham Grange, South Shields, Tyne And Wear NE33 3JJ2
£125K02/240.06 mi34, Ingham Grange, South Shields, Tyne And Wear NE33 3JJ2
£88K03/230.1 mi47, Coleridge Avenue, South Shields, Tyne And Wear NE33 3HA2
£85K05/210.11 mi123, St Vincent Street, South Shields, Tyne And Wear NE33 3AS2
£57K03/210.11 mi82, St Vincent Street, South Shields, Tyne And Wear NE33 3AS2
£86.5K07/210.11 mi130, St Vincent Street, South Shields, Tyne And Wear NE33 3AS2
£133K09/230.13 mi72, Mowbray Road, South Shields, Tyne And Wear NE33 3AX2
£61K05/240.13 mi8a, St Michaels Avenue North, South Shields, Tyne And Wear NE33 3AL2
£79K08/230.14 mi79, Mowbray Road, South Shields, Tyne And Wear NE33 3DD2
£80K12/220.14 mi138a, St Vincent Street, South Shields, Tyne And Wear NE33 3BH2
£66K10/200.14 mi15, Iolanthe Terrace, South Shields, Tyne And Wear NE33 3DE2
£95K10/210.16 mi19a, Osborne Avenue, South Shields, Tyne And Wear NE33 3DQ2
£65K12/230.17 mi44, East Moffett Street, South Shields, Tyne And Wear NE33 3PL2
£78K10/230.17 mi3, Lord Street, South Shields, Tyne And Wear NE33 3DB2
£70K06/230.17 mi12, Lord Street, South Shields, Tyne And Wear NE33 3DB2
£106K03/210.2 mi83, Mowbray Road, South Shields, Tyne And Wear NE33 3BA2
£49K03/210.2 mi96, Imeary Street, South Shields, Tyne And Wear NE33 4EQ2
£84K04/210.21 mi111, Osborne Avenue, South Shields, Tyne And Wear NE33 3BX2
£80K11/210.21 mi197, St Vincent Street, South Shields, Tyne And Wear NE33 3BJ2
£67K02/210.21 mi151, St Vincent Street, South Shields, Tyne And Wear NE33 3BJ2
£65K12/200.21 mi243, St Vincent Street, South Shields, Tyne And Wear NE33 3BJ2
£68K06/210.23 mi56, Leighton Street, South Shields, Tyne And Wear NE33 3BU2
£120K02/230.25 mi143, Mowbray Road, South Shields, Tyne And Wear NE33 3BB2
£61K05/210.27 mi203, Osborne Avenue, South Shields, Tyne And Wear NE33 3BY2
£152K03/210.27 mi6, Kensington Court, South Shields, Tyne And Wear NE33 3DT2
£76K08/230.28 mi5, Rosa Street, South Shields, Tyne And Wear NE33 3LN2
£72.5K08/210.31 mi14, Eccleston Road, South Shields, Tyne And Wear NE33 3BS2
£48K05/210.33 mi91, Northcote Street, South Shields, Tyne And Wear NE33 4DJ2
£78K07/210.33 mi235, Mowbray Road, South Shields, Tyne And Wear NE33 3BD2
£97K05/230.34 mi54, Hartington Terrace, South Shields, Tyne And Wear NE33 4DE2
£124K09/210.34 mi125, Grosvenor Road, South Shields, Tyne And Wear NE33 3LU2
£113K08/210.34 mi117, Grosvenor Road, South Shields, Tyne And Wear NE33 3LU2
£109K11/230.34 mi127, Grosvenor Road, South Shields, Tyne And Wear NE33 3LU2
£80.5K01/230.35 mi83, Canterbury Street, South Shields, Tyne And Wear NE33 4DD2
£56K12/220.36 mi2, Oxford Avenue, South Shields, Tyne And Wear NE33 4TW2
£100K08/230.37 mi16, Hutton Row, South Shields, Tyne And Wear NE33 3NU2
£95K08/230.37 mi33, Tadema Road, South Shields, Tyne And Wear NE33 3BG2
£122K01/230.38 mi217, Mowbray Road, South Shields, Tyne And Wear NE33 3BD2
£55K01/210.38 mi26, Northcote Street, South Shields, Tyne And Wear NE33 4BY2
£58.5K07/230.39 mi117, Marlborough Street South, South Shields, Tyne And Wear NE33 4DB2

Local Rents

50 rents from £475/mo to £1.9K/mo, average is £600/mo.

RentDateDistanceAddressBeds 
£49506/240.04 miColeridge Avenue, South Shields2
£85005/240.05 mi-2
£77507/240.06 miIngham House, South Shields2
£47507/240.11 mi93 St Vincent Street South Shields NE33 3AS2
£69502/240.18 mi-2
£62502/250.19 mi-2
£67505/240.2 mi96 Imeary Street, South Shields2
£64506/240.2 miImeary Street, South Shields, Tyne and Wear, NE332
£59506/240.21 mi-2
£59502/250.21 mi-2
£63006/240.22 mi-2
£60006/240.23 mi-2
£60003/250.23 mi-2
£69505/240.23 mi-2
£69505/240.23 miSpohr Terrace, South Shields2
£55001/250.23 mi-2
£52501/250.34 mi-2
£60004/250.35 mi-2
£57506/240.35 mi-2
£69507/240.37 miOxford Avenue, South Shields2
£75003/250.37 mi-2
£52005/240.37 mi-2
£60005/240.38 mi-2
£1,90006/240.38 mi-2
£1,90007/240.38 mi-2
£69505/240.43 miErskine Road, South Shields2
£79505/240.46 miSea Winnings Way, South Shields2
£60005/240.47 mi-2
£60005/240.47 mi-2
£57505/240.48 mi-2
£55003/250.48 mi-2
£60012/240.49 miRekendyke Mews, South Shields2
£65004/250.5 mi-2
£55003/250.5 mi-2
£57506/240.5 mi-2
£57506/240.5 mi-2
£60012/240.5 mi-2
£60012/240.5 miBroughton Road, South Shields, NE332
£1,65005/240.5 mi-2
£65002/240.52 mi-2
£84505/240.52 miBeach Road, Town Centre , South Shields, Tyne and Wear, NE33 2SA2
£70005/240.54 mi-2
£70007/240.54 mi-2
£52002/240.54 mi-2
£55007/240.54 mi-2
£70004/250.57 mi-2
£85007/240.59 miSea Way, South Shields2
£55007/240.59 mi-2
£55006/240.59 miCollingwood Street, South Shields, NE332
£55007/240.59 miCollingwood Street, South Shields, NE332

Local Area Statistics

Population in NE33

27,262

Population in South Shields

79,432

Town centre distance

0.50 miles away

Nearest school

0.20 miles away

Nearest train station

0.40 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+19%

Sales demand

Seller's market

Capital growth (5yrs)

+8%

Property History

Listed for £60,000

February 24, 2025

Floor Plans

Description

  • CASH BUYERS INVESTMENT OPPORTUNITY +
  • GCH & DOUBLE GLAZING +
  • 2 BEDROOM UPPER FLAT +
  • POTENTIAL 3 BEDROOM CONVERSION +

FOR SALE BY AUCTION, FEES APPLY CASH BUYERS ONLY
SOLD VACANT POTENTIAL RENTAL INVESTMENT**

This 2 Bedroom upper flat in need of refurbishment, is offered to market with no onward chain and offers the scope for the potential addition of a 3rd bedroom, STPP.
Briefly comprising: inner porch, stairs to first floor, landing, 2 bedrooms, large living room, kitchen and bathroom.

Situated on Coleridge Avenue, a location that provides easy access to a range of amenities and facilities, including shops, supermarkets, restaurants, and cafes, all within walking distance. Additionally, the property is conveniently located near excellent schools and transport links.

360 Video Tour:

Council Tax Band: A
Tenure: Leasehold
Length Of Lease: 56

Agent Details

Pattinson Estate Agents, South Shields

0191 625 0219

Next Steps?

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