3 Bed Flat, Cash/Bridging Only, Sunderland, SR2 7LL, £159,995

Albert Court, Sunderland, Tyne And Wear, SR2 7LL - 1 views - 2 months ago

Leasehold
Cash
ROI: 6%
~99 m²
+8 photos

ValuationOvervalued

Sold Prices£75K - £335K
Sold Prices/m²£1K/m² - £2.7K/m²

 

 

Square Metres

~99 m²
Price/m²£1.6K/m²

Value Estimate

£143,328

 

 

End Value (After Refurb)

£157,750

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£39,999

Stamp Duty & Legal Fees

£9,900

Refurb Costs

£37,791

Bridging Loan Interest

£4,200

Total Cash In

£93,640

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£157,750

Mortgage (After Refinance)

£118,312

Mortgage LTV

75%

Cash Left In

£93,640

Equity

£39,437

Rent Range

£700 - £3,500

Rent Estimate

£1,189

Running Costs/mo

£751

Cashflow/mo

£438

Cashflow/yr

£5,259

ROI

6%

Gross Yield

9%

Local Sold Prices

15 sold prices from £75K to £335K, average is £120K. £1K/m² to £2.7K/m², average is £1.4K/m².

PriceDateDistanceAddressBeds 
£107K02/210.04 miFlat 17, Edward House, Albert Court, Sunderland, Tyne And Wear SR2 7LQ3
£105K02/230.06 miFlat 11, Beatrice House, Albert Court, Sunderland, Tyne And Wear SR2 7LH3
£200K04/230.49 mi1b, The Esplanade, Sunderland, Tyne And Wear SR2 7BQ3
£153.5K11/210.62 mi78, Ormonde Street, Sunderland, Tyne And Wear SR4 7PN3
£120K12/220.75 mi176, Cleveland Road, Sunderland, Tyne And Wear SR4 7PU3
£82K05/210.75 miApartment 26, St. Michaels, Gray Road, Sunderland, Tyne And Wear SR2 8JU3
£75K06/210.75 miApartment 27, St. Michaels, Gray Road, Sunderland, Tyne And Wear SR2 8JU3
£237K05/221.11 mi2, Moore Avenue, South Shields, Tyne And Wear NE34 6AA3
£82K10/211.3 mi9, Friar Road, Sunderland, Tyne And Wear SR4 0BJ3
£160K08/231.47 mi60, The Broadway, Sunderland, Tyne And Wear SR4 8NN3
£75K11/211.51 mi25, Sandringham Road, Sunderland, Tyne And Wear SR6 9QZ3
£120K02/231.95 mi28, Redcar Road, Sunderland, Tyne And Wear SR5 5PX3
£265K12/202.16 mi10, Cliffe Court, Sunderland, Tyne And Wear SR6 9NT3
£260K02/212.16 mi11, Cliffe Court, Sunderland, Tyne And Wear SR6 9NT3
£335K05/242.17 mi11, Cliffe Court, Sunderland, Tyne And Wear SR6 9NT3

Local Rents

20 rents from £700/mo to £3.5K/mo, average is £875/mo.

RentDateDistanceAddressBeds 
£97509/240.24 miCresswell Terrace, Sunderland3
£78009/240.28 mi-3
£78004/250.28 mi-3
£3,50003/250.3 mi-3
£90009/240.32 miThornlea Court, Thornhill, Sunderland, SR23
£80009/240.34 miHurstwood Road, High Barnes, Sunderland3
£95003/250.4 mi-3
£85009/240.44 mi-3
£87502/250.46 mi-3
£87511/240.46 mi-3
£87509/240.47 miGeneral Graham Street, Sunderland3
£80011/230.5 mi-3
£85012/240.5 mi-3
£85003/250.51 mi-3
£72509/240.52 miCromwell Street, Sunderland, SR43
£3,50003/250.58 mi-3
£1,40009/240.59 miFawcett Street Student Accommodation, City Centre, SUNDERLAND, SR13
£70009/240.59 miBlackett Terrace, Millfield, Sunderland3
£1,40009/240.59 miStudent Accommodation @ Fawcett Street, City Centre, Sunderland, SR13
£1,40009/240.6 miFawcett Street, City Centre, Sunderland, SR13

Local Area Statistics

Population in SR2

33,440

Population in Sunderland

183,740

Town centre distance

0.99 miles away

Nearest school

0.20 miles away

Nearest train station

0.16 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+23%

Sales demand

Balanced market

Capital growth (5yrs)

-5%

Property History

Listed for £159,995

February 24, 2025

Floor Plans

Description

  • 3 BEDROOM APARTMENT +
  • SITTING TENANTS +
  • IDEAL FOR INVESTORS OR FTB,s +
  • MUST BE VIEWED TO BE APPRECIATED +
  • SECURE GATED DEVELOPMENT +

True Homes estate agents welcomes to the market this well presented 3 bed ground floor apartment situated in Helena House in the gated development of Royal Courts which is within walking distance of Sunderland City Centre, Sunderland University, local amenities and the region beyond. The apartment offers generous yet versatile living accommodation briefly comprising of; Entrance Hall, Living Room, 3 Bedrooms, Bathroom, En Suite and Kitchen / Breakfast Room. Externally there are communal gardens and an allocated parking space all set within a gated development. There is NO ONWARD CHAIN INVOLVED with the sale. Viewing is highly recommended.

Entrance Hall - Radiator, storage cupboard, double cloaks cupboard

Living Room - 4.53 x 4.54 (14'10" x 14'10") - The living room has a dual aspect having two timber framed double glazed windows, radiator, feature fire with electric fire, telephone door entry system

Kitchen / Breakfast Room - 2.41 x 4.32 (7'10" x 14'2") - The kitchen has a comprehensive range of floor and wall units, electric oven, electric hob with extractor over, wall mounted gas boiler, sink and drainer with mixer tap, radiator, timber framed double glazed window

Bedroom 1 - 4.17 x 3.58 (13'8" x 11'8") - Timber framed double glazed window, radiator

En Suite - White suite comprising low level WC, wash hand basin with mixer tap set on a vanity unit, shaver point, tiled walls and floor, extractor, radiator

Bedroom 2 - 4.31 x 369 (14'1" x 1210'7") - Timber framed double glazed window, radiator

Bedroom 3 - 2.93 x 2.61 (9'7" x 8'6") - Timber framed double glazed window, radiator

Bathroom - White suite comprising low level WC, wash hand basin with mixer tap sent on a vanity unit, bath with mixer tap and shower attachment over, tiled walls and floor, radiator

Parking - Allocated parking space

External - Externally there is a gated courtyard parking and an allocated parking space.

DISCLAIMER:

We endeavour to make our property details accurate. Any services, systems and appliances listed in the details have not been tested by us and no guarantee is given to their operating ability or efficiency. All the measurements and floor plans have been taken as a guide to prospective purchasers and are not to be relied upon. Please be advised that some of the information may be awaiting vendor approval. If you require clarification of further information on any points please contact us direct.

MAKING AN OFFER Please note that all offers will require financial verification including mortgage agreement in principle, proof of deposit funds, proof of available cash and full chain details including selling agents and solicitors down the chain. Under New Money Laundering Regulations we require proof of identification from all buyers before acceptance letters are sent and solicitors can be instructed.

Tenure - We are not able to verify the tenure of the property as it is not always possible to see sight of the relevant documentation prior to marketing. Prospective purchasers must make further enquiries with their legal advise.

VIEWING Contact True Homes Estate Agents for an appointment to view.

WEBSITE COVERAGE We are proud to be affiliated with the UK's leading property portals.

FINANCIAL ADVICE YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP THE REPAYMENTS ON THE MORTGAGE OR LOANS SECURED ON THE PROPERTY.

Through our association with a leading independent mortgage advisor we can offer the best mortgage deals available anywhere.

FREE VALUATION Our family run business is made up of friendly, professional people who have extensive experience of the housing market. We understand estate agencies come and go, but True Homes Estate Agents has consistently secured high levels of sales throughout.

If you would like to arrange a free no obligation valuation, please contact True Homes Estate Agents 24/7

Agent Details

True Homes Group, Whickham

0191 743 1187

Next Steps?

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