3 Bed Semi-Detached House, Refurb/BRRR, South Shields, NE34 7AQ, £230,000

Grotto Road, South Shields, NE34 7AQ - 1 views - 2 months ago

Leasehold
Refurb/BRRR
~93 m²
+13 photos

ValuationOvervalued

Sold Prices£82K - £290K
Sold Prices/m²£1.1K/m² - £3.4K/m²

 

 

Square Metres

~93 m²
Price/m²£2.5K/m²

Value Estimate

£159,526

 

 

End Value (After Refurb)

£230,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£57,500

Stamp Duty & Legal Fees

£12,700

Refurb Costs

£35,600

Bridging Loan Interest

£6,038

Total Cash In

£113,588

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£230,000

Mortgage (After Refinance)

£172,500

Mortgage LTV

75%

Cash Left In

£113,588

Equity

£57,500

Rent Range

£725 - £1,100

Rent Estimate

£868

Running Costs/mo

£912

Cashflow/mo

£-44

Cashflow/yr

£-532

Gross Yield

5%

Local Sold Prices

50 sold prices from £82K to £290K, average is £163.5K. £1.1K/m² to £3.4K/m², average is £1.8K/m².

PriceDateDistanceAddressBeds 
£211K08/240.03 mi25, Grotto Road, South Shields, Tyne And Wear NE34 7AQ3
£150K04/240.03 mi95, Grotto Road, South Shields, Tyne And Wear NE34 7AQ3
£140K05/210.05 mi56, Grotto Road, South Shields, Tyne And Wear NE34 7AH3
£139K02/240.14 mi289, Quarry Lane, South Shields, Tyne And Wear NE34 7AR3
£155K04/230.18 mi20, Lizard Lane, South Shields, Tyne And Wear NE34 7AW3
£200K10/230.22 mi100, Lake Avenue, South Shields, Tyne And Wear NE34 7AX3
£183K07/230.27 mi8, Cliffside, South Shields, Tyne And Wear NE34 7EZ3
£155K07/230.34 mi31, Westmorland Road, South Shields, Tyne And Wear NE34 7JJ3
£140K04/210.34 mi28, Westmorland Road, South Shields, Tyne And Wear NE34 7JJ3
£167K01/210.37 mi22, Norfolk Road, South Shields, Tyne And Wear NE34 7JW3
£190K03/230.39 mi8, Norfolk Road, South Shields, Tyne And Wear NE34 7JW3
£120K02/210.39 mi40, Norfolk Road, South Shields, Tyne And Wear NE34 7JW3
£272K10/230.4 mi120, Lumley Avenue, South Shields, Tyne And Wear NE34 7BN3
£210K12/230.41 mi17, Westmorland Road, South Shields, Tyne And Wear NE34 7JL3
£245K12/230.42 mi8, Beacon Glade, South Shields, Tyne And Wear NE34 7PS3
£165K02/230.45 mi11, Fulwell Avenue, South Shields, Tyne And Wear NE34 7DH3
£222K04/210.45 mi77, Beacon Glade, South Shields, Tyne And Wear NE34 7QU3
£152K05/230.45 mi16, Chirton Grove, South Shields, Tyne And Wear NE34 7BP3
£290K11/220.45 mi42, Beacon Glade, South Shields, Tyne And Wear NE34 7PS3
£161.5K08/230.49 mi45, Walworth Avenue, South Shields, Tyne And Wear NE34 7EW3
£230K05/220.49 mi21, Beaconside, South Shields, Tyne And Wear NE34 7PY3
£139.9K01/210.49 mi4, Deneside, South Shields, Tyne And Wear NE34 7RW3
£165K05/240.49 mi4, Deneside, South Shields, Tyne And Wear NE34 7RW3
£290K02/220.5 mi92, Beaconside, South Shields, Tyne And Wear NE34 7PX3
£192K06/240.51 mi107, Lumley Avenue, South Shields, Tyne And Wear NE34 7DL3
£260K10/230.53 mi17, Suffolk Gardens, South Shields, Tyne And Wear NE34 7JF3
£100K04/210.55 mi93, Steward Crescent, South Shields, Tyne And Wear NE34 7EJ3
£242K08/210.55 mi107, Beaconside, South Shields, Tyne And Wear NE34 7PT3
£215K12/200.55 mi193, Beaconside, South Shields, Tyne And Wear NE34 7PT3
£245K03/230.56 mi96, Beaconside, South Shields, Tyne And Wear NE34 7PX3
£180K07/230.62 mi10, Thornholme Avenue, South Shields, Tyne And Wear NE34 7DT3
£115K11/200.64 mi65, Thornholme Avenue, South Shields, Tyne And Wear NE34 7DS3
£171K06/210.67 mi47, Dorset Avenue, South Shields, Tyne And Wear NE34 7JA3
£162K11/200.67 mi51, Dorset Avenue, South Shields, Tyne And Wear NE34 7JA3
£120K06/210.67 mi9, Watson Avenue, South Shields, Tyne And Wear NE34 7QX3
£180K07/230.7 mi70, Ede Avenue, South Shields, Tyne And Wear NE34 7ED3
£157K11/200.7 mi30, Lumley Avenue, South Shields, Tyne And Wear NE34 7DW3
£127K03/230.73 mi2, Ede Avenue, South Shields, Tyne And Wear NE34 7EA3
£130K10/210.73 mi145, Tanfield Gardens, South Shields, Tyne And Wear NE34 7DX3
£152K12/200.75 mi59, Hylton Avenue, South Shields, Tyne And Wear NE34 7SF3
£155K07/240.75 mi23, Ede Avenue, South Shields, Tyne And Wear NE34 7EB3
£127K04/210.76 mi70, Tanfield Gardens, South Shields, Tyne And Wear NE34 7DY3
£197.5K12/230.82 mi24, Hurworth Avenue, South Shields, Tyne And Wear NE34 7SG3
£160K12/200.82 mi27, Hurworth Avenue, South Shields, Tyne And Wear NE34 7SG3
£190K05/230.82 mi4, Hurworth Avenue, South Shields, Tyne And Wear NE34 7SG3
£82K11/230.84 mi8, Shelley Avenue, South Shields, Tyne And Wear NE34 7QE3
£145K09/230.85 mi22, Arthur Street, Whitburn, Sunderland, Tyne And Wear SR6 7NE3
£170K03/230.85 mi126, Centenary Avenue, South Shields, Tyne And Wear NE34 6SG3
£100K07/210.85 mi17, Farne Avenue, South Shields, Tyne And Wear NE34 7HG3
£120K10/210.88 mi1, Craster Avenue, South Shields, Tyne And Wear NE34 7TN3

Local Rents

19 rents from £725/mo to £1.1K/mo, average is £850/mo.

RentDateDistanceAddressBeds 
£89505/240.08 miLizard Lane, South Shields3
£89505/240.34 miLumley Avenue, South Shields3
£89505/240.39 miFulwell Avenue, South Shields3
£79507/240.57 miGreenside, Marsden, South Shields, Tyne and Wear, NE34 7RN3
£90012/240.65 mi-3
£85004/240.83 mi-3
£80005/240.87 mi-3
£77505/240.87 mi-3
£95005/240.87 miEast Avenue, South Shields, NE343
£97505/240.89 miEast Avenue, South Shields, NE343
£85005/240.89 mi-3
£85010/230.9 mi-3
£75503/250.94 mi-3
£95005/240.98 miCentenary Avenue, South Shields3
£78512/240.98 mi-3
£72512/241.03 mi-3
£85007/241.1 miHorsley Vale, South Shields3
£1,10007/241.12 miAllendale Drive, South Shields3
£90005/241.22 miNorth Close, South Shields, Tyne And Wear, NE343

Local Area Statistics

Population in NE34

52,101

Population in South Shields

79,432

Town centre distance

1.82 miles away

Nearest school

0.90 miles away

Nearest train station

2.30 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+35%

Sales demand

Seller's market

Capital growth (5yrs)

+27%

Property History

Listed for £230,000

March 11, 2025

Description

  • Highly Sought After Coastal Location +
  • Sea Views Over Marsden Beach ! +
  • Ready For Personalisation & Modernisation +
  • Sold With No Onward Chain & Vacant Possession +
  • Superb First Time & Family Home +
  • Reference : 303331 +

SEA VIEWS! This charming Family home on Grotto Road boasts stunning direct views across the North Sea. Ideally located in the highly sought after Marsden area, it offers easy access to The Leas and the award winning Coastline.

The ground floor features an entrance porch leading to a welcoming hallway, a spacious lounge with a connecting door to the dining room, a well proportioned kitchen, and a convenient utility room. Upstairs, there are three bedrooms, two with fitted wardrobes, and the second bedroom enjoying breathtaking sea views. A family bathroom with a separate WC completes the first floor.

Externally, the property benefits from gardens to the front and rear, as well as a driveway leading to a single garage, providing ample parking. Offered with vacant possession, this home presents a fantastic opportunity to modernise and create a stunning Coastal retreat. Early viewing is highly recommended!
ENTRANCE
Via solid wood door into Porch.
PORCH
Door into Hallway.
HALLWAY
Double glazed window, stairs to first floor Landing and radiator.
LOUNGE 3.84m (12'7) x 3.89m (12'9)
Double glazed window, radiator and door into Dining Room.
DINING ROOM 3.1m (10'2) x 2.67m (8'9)
Double glazed window, radiator and door into Kitchen.
KITCHEN BREAKFAST ROOM 3.23m (10'7) x 2.95m (9'8)
Kitchen units with sink, space for cooker, lino to floor, storage cupboard, double glazed window, part wood panelling to walls, radiator and door into Utility.
UTILITY ROOM
Double glazed window, storage cupboard, plumbing for washer, space for fridge freezer, space for tumble dryer, kitchen base unit and door to outhouse and door to rear Garden.
FIRST FLOOR LANDING
Storage cupboard housing COMBI boiler, loft access and double glazed window.
BEDROOM ONE 3.84m (12'7) x 2.97m (9'9)
Fitted wardrobes with drawers and overhead storage, double glazed window and radiator.
BEDROOM TWO 3.51m (11'6) x 2.49m (8'2)
Fitted wardrobes with overhead storage, double glazed window, radiator and Sea views.
BEDROOM THREE 2.92m (9'7) x 2.72m (8'11)
Double glazed window and radiator.
BATHROOM
Panelled bath with shower over and shower curtain, pedestal hand wash basin, double glazed window, tiling to walls and radiator.
SEPARATE W.C.
Low flush W.C., double glazed window and tiling to walls.
EXTERNALLY
Low maintenance garden to front and a lawned garden to rear.
PARKING
Driveway providing off road parking which leads to the Garage.
GARAGE
Detached single garage, accessed via up and over door.
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.
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.
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
Broadband & Mobile Coverage
The Ofcom website states the average broadband download speed of 2 Mbps and a maximum download speed of 1000 Mbps at this postcode: NE34 7AQ and mobile coverage is provided by Vodafone. The checker results are predictions and should not be regarded as guaranteed.
Council Tax
The GOV.UK website states the property is Council Tax Band: B

EPC Rating: C

Agent Details

Andrew Craig, South Shields

0191 625 0766

Next Steps?

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