2 Bed Flat, Cash/Bridging Only, Newcastle upon Tyne, NE16 5QD, £85,000

Longwood Close, Sunniside, Newcastle upon Tyne, NE16 5QD - 6 days ago

Leasehold
Cash
ROI: 2%
~68 m²
+6 photos

ValuationFair Value

Sold Prices£48K - £295K
Sold Prices/m²£700/m² - £2.4K/m²

 

 

Square Metres

~68.11 m²
Price/m²£1.2K/m²

Value Estimate

£85,000

 

 

End Value (After Refurb)

£142,271

Uplift in Value

+67%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£21,250

Stamp Duty & Legal Fees

£5,450

Refurb Costs

£26,073

Bridging Loan Interest

£2,231

Total Cash In

£56,754

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Estimated Sale Price

£142,271

Agent Fees (1%)

£1,423

Bridging Loan

£63,750

Bridging Loan Interest

£2,231

Flip Profit

£20,344

Local Sold Prices

35 sold prices from £48K to £295K, average is £88K. £700/m² to £2.4K/m², average is £1.5K/m².

PriceDateDistanceAddressBeds 
£96.3K03/230.01 mi53, Longwood Close, Sunniside, Newcastle Upon Tyne, Tyne And Wear NE16 5QD2
£85K07/220.11 mi26, Longwood Close, Sunniside, Newcastle Upon Tyne, Tyne And Wear NE16 5QB2
£75K12/220.14 mi15, Calder Walk, Sunniside, Newcastle Upon Tyne, Tyne And Wear NE16 5XS2
£92.5K06/230.22 mi184, Kingsway, Sunniside, Newcastle Upon Tyne, Tyne And Wear NE16 5XB2
£85K03/220.22 mi208, Kingsway, Sunniside, Newcastle Upon Tyne, Tyne And Wear NE16 5XB2
£70K01/230.24 mi20, Dunnock Drive, Sunniside, Newcastle Upon Tyne, Tyne And Wear NE16 5XJ2
£135K11/230.45 mi18, Napier Court, Whickham, Newcastle Upon Tyne, Tyne And Wear NE16 5QH2
£135K08/210.45 mi3, Napier Court, Whickham, Newcastle Upon Tyne, Tyne And Wear NE16 5QH2
£120K08/220.54 mi18, Thornley Close, Whickham, Newcastle Upon Tyne, Tyne And Wear NE16 5TG2
£135K02/230.56 mi43, Wansford Way, Whickham, Newcastle Upon Tyne, Tyne And Wear NE16 5TA2
£106K01/210.85 mi31, Ancrum Way, Whickham, Newcastle Upon Tyne, Tyne And Wear NE16 5RW2
£113K06/210.98 mi26, Marston Walk, Whickham, Newcastle Upon Tyne, Tyne And Wear NE16 5BS2
£134.6K10/230.98 mi14, Marston Walk, Whickham, Newcastle Upon Tyne, Tyne And Wear NE16 5BS2
£119K04/211.05 mi26, Ravenscar Close, Whickham, Newcastle Upon Tyne, Tyne And Wear NE16 5TW2
£113.5K12/201.13 mi61, Leasyde Walk, Whickham, Newcastle Upon Tyne, Tyne And Wear NE16 5UF2
£117.5K04/231.26 mi34, Corsair, Whickham, Newcastle Upon Tyne, Tyne And Wear NE16 5YB2
£65K10/201.34 mi4a, West Street, Whickham, Newcastle Upon Tyne, Tyne And Wear NE16 4AN2
£65K10/201.34 mi4a, West Street, Whickham, Newcastle Upon Tyne, Tyne And Wear NE16 4AN2
£84.7K11/221.5 mi21, Coalway Lane, Whickham, Newcastle Upon Tyne, Tyne And Wear NE16 4BX2
£295K01/211.6 miApartment 1, The Mansion House, Mansion Heights, Gateshead, Tyne And Wear NE11 9DA2
£88.5K08/221.83 mi50, Mountside Gardens, Gateshead, Tyne And Wear NE11 9QB2
£91.5K11/231.85 mi36, Rosebud Close, Swalwell, Newcastle Upon Tyne, Tyne And Wear NE16 3DF2
£88K11/221.85 mi28, Rosebud Close, Swalwell, Newcastle Upon Tyne, Tyne And Wear NE16 3DF2
£91K04/221.85 mi37, Rosebud Close, Swalwell, Newcastle Upon Tyne, Tyne And Wear NE16 3DF2
£48K05/221.86 mi75, Ridley Gardens, Swalwell, Newcastle Upon Tyne, Tyne And Wear NE16 3HT2
£65K07/211.87 mi75, Axwell Terrace, Swalwell, Newcastle Upon Tyne, Tyne And Wear NE16 3JS2
£75K11/221.88 mi38, Oak Avenue, Gateshead, Tyne And Wear NE11 9UQ2
£74K01/231.88 mi51, Axwell Terrace, Swalwell, Newcastle Upon Tyne, Tyne And Wear NE16 3JS2
£65K07/231.88 mi17, Park Terrace, Swalwell, Newcastle Upon Tyne, Tyne And Wear NE16 3BU2
£52K08/221.89 mi14, Napier Road, Swalwell, Newcastle Upon Tyne, Tyne And Wear NE16 3BT2
£55K03/221.89 mi79, Park Terrace, Swalwell, Newcastle Upon Tyne, Tyne And Wear NE16 3BU2
£70K10/201.96 mi3, Lyndhurst Terrace, Swalwell, Newcastle Upon Tyne, Tyne And Wear NE16 3DY2
£70K01/211.96 mi64, Oak Avenue, Gateshead, Tyne And Wear NE11 9UR2
£77K09/231.97 mi1, Firwood Gardens, Gateshead, Tyne And Wear NE11 0DL2
£97K08/211.99 mi17, Broadmeadows Close, Swalwell, Newcastle Upon Tyne, Tyne And Wear NE16 3DD2

Local Rents

13 rents from £500/mo to £850/mo, average is £700/mo.

RentDateDistanceAddressBeds 
£74511/240.15 mi-2
£70003/250.15 mi-2
£75002/250.16 mi-2
£82501/250.19 mi-2
£65006/240.2 miKingsway, Sunniside, NE162
£62506/240.23 miKingsway, Sunniside, NE162
£69503/240.24 mi-2
£59506/240.24 miDunnock Drive, Sunniside, Newcastle upon Tyne, NE162
£50006/240.59 miCuthbert Street, Marley Hill, Newcastle Upon Tyne, NE162
£75007/240.98 miMarston Walk, Whickham2
£75006/241.03 miWhaggs Lane, Whickham, Newcastle Upon Tyne, NE162
£65006/241.07 miFellside Mews, Whickham, Newcastle Upon Tyne2
£85011/241.13 mi-2

Local Area Statistics

Population in NE16

25,637

Population in Newcastle upon Tyne

381,037

Town centre distance

5.75 miles away

Nearest school

0.70 miles away

Nearest train station

2.22 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

-3%

Sales demand

Balanced market

Capital growth (5yrs)

+33%

Property History

Listed for £85,000

March 10, 2025

Floor Plans

Description

  • Extended Lease +
  • First Floor Flat +
  • Garage in Block +
  • Gas Central Heating & Double Glazing +
  • Ideal First Time Buy or Investment +
  • Offered With No Onward Chain +
  • Overlooking Central Green +
  • Two Bedrooms +

Jan Mitchell Properties are delighted to offer for sale this well presented and priced two bedroom first floor flat with extended lease, no annual ground rent and garage, all offered with No Onward Chain situated on the leafy Longwood Close, Sunniside.

Internally the property has neutral décor throughout and briefly comprises:- Private entrance hall, landing with storage cupboard, fitted kitchen, lounge with pleasant outlook over the green behind, three piece bathroom with shower over the bath and two bedrooms both with fitted storage.

Externally there is a garden and communal green to the front, resident parking and garage in a nearby block.

Overall a superb first floor flat that would make an ideal purchase for the first time buyer, down-sizer or investor alike with double glazing and gas central heating, all offered with no onward chain

Location
Sunniside is a small picturesque village surrounded by beautiful countryside, with views over the Derwent Valley. There has been substantial, recent, new housing development making this an up-and-coming and desirable place to live. It is situated on a main road running between Newcastle and Consett. Although it has a semi rural feel, there is good access to both the Metro centre and the A1. The village and nearby Marley Hill and Burnopfield have shops, pubs, primary schools and range of sporting clubs

IMPORTANT NOTE TO PURCHASERS
We endeavour to make our property details accurate, however, they do not constitute or form part of an offer or any contract and are not to relied upon as statements of representation or fact. 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 adviser

Council Tax Band: A (Gateshead Council)
Tenure: Leasehold (139 years)
Ground Rent: £0 per year
Extended lease with 139 Years remaining and no annual ground rent to pay

Agent Details

Jan Mitchell Properties, Covering North East

0191 625 1034

Next Steps?

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