3 Bed Semi-Detached House, Refurb/BRRR, South Shields, NE34 0SU, £279,950

King George Road, South Shields, NE34 0SU - 1 views - 2 months ago

Leasehold
Refurb/BRRR
~93 m²
+16 photos

ValuationOvervalued

Sold Prices£130K - £455K
Sold Prices/m²£1.3K/m² - £4.4K/m²

 

 

Square Metres

~93 m²
Price/m²£3K/m²

Value Estimate

£189,198

 

 

End Value (After Refurb)

£261,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£69,988

Stamp Duty & Legal Fees

£16,695

Refurb Costs

£35,600

Bridging Loan Interest

£7,349

Total Cash In

£131,381

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£261,000

Mortgage (After Refinance)

£195,750

Mortgage LTV

75%

Cash Left In

£131,381

Equity

£65,250

Rent Range

£595 - £3,500

Rent Estimate

£1,058

Running Costs/mo

£1,047

Cashflow/mo

£11

Cashflow/yr

£129

ROI

0%

Gross Yield

5%

Local Sold Prices

50 sold prices from £130K to £455K, average is £204.5K. £1.3K/m² to £4.4K/m², average is £2.1K/m².

PriceDateDistanceAddressBeds 
£375K10/210.07 mi31, King George Road, South Shields, Tyne And Wear NE34 0SR3
£250K06/210.08 mi38, King George Road, South Shields, Tyne And Wear NE34 0SN3
£205K07/210.08 mi22, King George Road, South Shields, Tyne And Wear NE34 0SN3
£253K04/210.08 mi5, King George Road, South Shields, Tyne And Wear NE34 0SP3
£310K02/210.08 mi17, King George Road, South Shields, Tyne And Wear NE34 0SP3
£320K03/240.08 mi11, King George Road, South Shields, Tyne And Wear NE34 0SP3
£215K02/210.09 mi19, Page Avenue, South Shields, Tyne And Wear NE34 0RX3
£195.5K03/210.09 mi22, Cauldwell Villas, South Shields, Tyne And Wear NE34 0RZ3
£184K02/210.12 mi222, Mortimer Road, South Shields, Tyne And Wear NE34 0DS3
£159.9K11/200.14 mi184, Mortimer Road, South Shields, Tyne And Wear NE34 0RP3
£455K07/230.14 mi82, King George Road, South Shields, Tyne And Wear NE34 0DT3
£320K11/230.16 mi119, Sunderland Road, South Shields, Tyne And Wear NE34 6ND3
£170K04/230.18 mi45, Harton House Road, South Shields, Tyne And Wear NE34 6EE3
£247.9K05/210.18 mi21, Harton House Road, South Shields, Tyne And Wear NE34 6EE3
£425K08/220.18 mi2, Harton House Road, South Shields, Tyne And Wear NE34 6EE3
£291.5K10/230.18 mi16, St Peters Avenue, South Shields, Tyne And Wear NE34 6NN3
£172K11/200.18 mi30, Banbury Terrace, South Shields, Tyne And Wear NE34 0SE3
£225K07/230.2 mi294, Mortimer Road, South Shields, Tyne And Wear NE34 0DL3
£200K12/200.22 mi47, Blagdon Avenue, South Shields, Tyne And Wear NE34 0SG3
£194.4K04/230.22 mi52, Blagdon Avenue, South Shields, Tyne And Wear NE34 0SG3
£249K09/230.22 mi6, Forster Avenue, South Shields, Tyne And Wear NE34 6NL3
£155K10/210.22 mi77, Warwick Road, South Shields, Tyne And Wear NE34 0SQ3
£152.5K12/200.22 mi68, Warwick Road, South Shields, Tyne And Wear NE34 0SQ3
£210K08/230.22 mi67, Warwick Road, South Shields, Tyne And Wear NE34 0SQ3
£174K11/200.22 mi9, Windermere Crescent, South Shields, Tyne And Wear NE34 0DN3
£210K03/210.24 mi58, Harton House Road, South Shields, Tyne And Wear NE34 6ED3
£175K10/210.25 mi14, Harton Lane, South Shields, Tyne And Wear NE34 0EF3
£204K12/200.26 mi8, Rydal Gardens, South Shields, Tyne And Wear NE34 0EB3
£240K08/230.28 mi47, Hepscott Terrace, South Shields, Tyne And Wear NE33 4TJ3
£294.2K10/210.29 mi27, Harton Lane, South Shields, Tyne And Wear NE34 0EG3
£240K11/200.29 mi17, Harton Lane, South Shields, Tyne And Wear NE34 0EG3
£184.9K04/210.29 mi6, Moore Avenue, South Shields, Tyne And Wear NE34 6AA3
£200K11/200.3 mi7, Greta Gardens, South Shields, Tyne And Wear NE33 4TN3
£170K07/210.3 mi36, Reading Road, South Shields, Tyne And Wear NE33 4UG3
£130K01/210.3 mi99, Temple Park Road, South Shields, Tyne And Wear NE34 0PR3
£160K11/200.31 mi24, Banbury Terrace, South Shields, Tyne And Wear NE33 4TL3
£240K07/230.31 mi22, Banbury Terrace, South Shields, Tyne And Wear NE33 4TL3
£225K03/240.31 mi16, Banbury Terrace, South Shields, Tyne And Wear NE33 4TL3
£182K01/210.31 mi7, Warwick Road, South Shields, Tyne And Wear NE33 4TR3
£235K09/230.32 mi103, Harton House Road, South Shields, Tyne And Wear NE34 6EB3
£176K02/210.32 mi88, Harton House Road, South Shields, Tyne And Wear NE34 6EB3
£180K08/230.32 mi106, Harton House Road, South Shields, Tyne And Wear NE34 6EB3
£322.5K06/240.32 mi103, West Avenue, South Shields, Tyne And Wear NE34 6BH3
£325K01/230.32 mi23, Tynedale Road, South Shields, Tyne And Wear NE34 6EX3
£150K02/210.33 mi33, Marsden Road, South Shields, Tyne And Wear NE34 6DF3
£268K09/230.33 mi50, Marsden Road, South Shields, Tyne And Wear NE34 6DF3
£191K06/230.34 mi14, Bisley Drive, South Shields, Tyne And Wear NE34 0PY3
£135K01/210.34 mi16, Bisley Drive, South Shields, Tyne And Wear NE34 0PY3
£190K12/220.35 mi29, Oxford Avenue, South Shields, Tyne And Wear NE33 4TP3
£159.9K07/210.36 mi13, Birchington Avenue, South Shields, Tyne And Wear NE33 4TY3

Local Rents

16 rents from £595/mo to £3.5K/mo, average is £798/mo.

RentDateDistanceAddressBeds 
£1,40001/250.35 mi-3
£79005/240.37 mi-3
£66503/250.44 mi-3
£79505/240.45 mi-3
£1,80006/240.46 mi-3
£1,50012/240.46 mi-3
£3,50004/250.51 mi-3
£1,80005/240.51 mi-3
£1,80004/240.51 mi-3
£59504/250.53 mi-3
£72003/240.55 miGordon Street, South Shields, Tyne And Wear, NE333
£75005/240.56 mi-3
£60005/240.56 mi-3
£69512/240.59 miRavensworth Terrace, South Shields3
£90005/240.61 miNorth Close, South Shields, Tyne And Wear, NE343
£80004/250.61 mi-3

Local Area Statistics

Population in NE34

52,101

Population in South Shields

79,432

Town centre distance

0.19 miles away

Nearest school

0.20 miles away

Nearest train station

0.84 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+35%

Sales demand

Seller's market

Capital growth (5yrs)

+27%

Property History

Listed for £279,950

March 10, 2025

Floor Plans

Description

  • Ready For Personalisation & Modernisation ! +
  • Obtaining Many Original Charms Including The Stained Glass Windows +
  • Highly Popular Location Within Proximity To Great Amenities +
  • Open Plan Living To The Ground Floor, Ideal For Families +
  • Low Maintenance Areas To The Front, Side & Rear With Ample Parking +
  • Reference : 458242 +

Located in the highly sought after area of King George Road, this spacious home on a corner plot offers immense appeal to a variety of buyers, including first time buyers and families. A well loved property, it presents a fantastic opportunity for new owners to add their personal touch. The home is ideally positioned close to a range of local amenities, such as Readhead Park, schools, Westoe Village shops, bus links, and Harton Village for even more options. A key feature to this lovely home is within the double glazing, the current owner has had the original stained glass incorporated into the double glazing within all of the windows.

The ground floor features an entrance hallway with a convenient guest cloaks W.C., a generous lounge that opens into the dining room, and a well appointed kitchen. Upstairs, you'll find three bedrooms, two of which are well sized doubles with fitted wardrobes, and a spacious shower room. Outside, the property boasts low maintenance gardens at both the front and rear, along with a driveway providing off road parking for multiple cars and a garage offering additional parking or storage.

This home is a must-see and viewings are highly recommended!
ENTRANCE
Front door into Hallway.
HALLWAY
Stairs to first floor Landing and radiator.
GUEST CLOAKS W.C.
Low flush W.C., hand wash basin and tiling to walls.
LOUNGE 5.69m (18'8) x 3.76m (12'4)
Double glazed window, radiator, fire with surround and sliding doors opening to Dining Room.
DINING ROOM 4.24m (13'11) x 3.25m (10'8)
Radiator, fire with surround and patio doors to rear Garden.
KITCHEN 4.47m (14'8) x 1.93m (6'4)
Fitted with wall and base units with worktops over, plumbing for washing machine, space for under bench fridge and freezer, integrated oven and hob, sink unit with mixer tap, part tiling to walls, tiling to floor and two double glazed windows.
FIRST FLOOR LANDING
Double glazed window.
BEDROOM ONE 4.01m (13'2) x 3.3m (10'10)
Fitted wardrobes with drawers, double glazed window and radiator.
BEDROOM TWO 4.22m (13'10) x 3.1m (10'2)
Fitted wardrobes with drawers, double glazed window and radiator.
BEDROOM THREE 2.77m (9'1) x 1.98m (6'6)
Stairhead and double glazed window.
SHOWER ROOM 3.07m (10'1) x 1.88m (6'2)
Double shower cubicle with shower screen, hand wash basin and W.C. within vanity unit, two double glazed windows, radiator and tiling to walls.
EXTERNALLY
Sunny aspect lawned garden to rear with patio seating areas.
PARKING
Driving to front and side providing off road parking for multiple cars.
GARAGE
Attached single garage accessed via up and over door.
Agent Note
We have been advised by the current owners that the roof was replaced 6/7 years ago and a brand new boiler was fitted in November 2023 by Shipley's.
Council Tax
The GOV.UK website states the property is Council Tax Band: D

EPC Rating: TBC
Tenure
We will provide as much information about tenure as we are able to and in the case of leasehold properties, we can in most cases provide a copy of the lease. They can be complex and buyers are advised to take legal advice upon the full terms of a lease. Where a lease is not readily available we will apply for a copy and this can take time.
Broadband & Mobile Coverage
The Ofcom website states the average broadband download speed of 13 Mbps and a maximum download speed of 1000 Mbps at this postcode: NE34 0SU and mobile coverage is provided by EE, Three, O2 and Vodafone. The checker results are predictions and should not be regarded as guaranteed.
The Agent Of The North
Andrew Craig is The Agent of the North and as Chartered Surveyors we can help you with all your Residential and Commercial property needs. Sales, Conveyancing, Lettings, Property Management, Surveys and Valuations. Call now on
Money Laundering Regulations
Please note that any offers will require you to be financially verified, meaning you'll need to provide us sight of a mortgage in principle, proof of deposit funds, and proof of cash. You'll also need to provide us with full chain details including agents and solicitors down the chain. To comply with Money Laundering Regulations all buyers will be required to provide us with proof of identification before we can issue acceptance letters and solicitors are instructed.
Material Information
The information provided about this property does not constitute or form part of an offer or contract, nor may it be regarded as representations. All interested parties must verify accuracy and your solicitor must verify tenure and lease information, fixtures and fittings and, where the property has been recently constructed, extended or converted, that planning/building regulation consents are in place. All dimensions are approximate and quoted for guidance only, as are floor plans which are not to scale and their accuracy cannot be confirmed. Reference to appliances and/or services does not imply that they are necessarily in working order or fit for purpose. We offer our clients an optional conveyancing service, through panel conveyancing firms, via Move With Us and we receive on average a referral fee of one hundred and ninety four pounds, only on completion of the sale. If you do use this service, the referral fee is included within the amount that you will be quoted by our suppliers. All quotes will also provide details of referral fees payable.

Agent Details

Andrew Craig, South Shields

0191 625 0766

Next Steps?

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