3 Bed Flat, Refurb/BRRR, South Shields, NE33 4ES, £70,000

Imeary Street, Westoe, South Shields, Tyne and Wear, NE33 4ES - 2 views - 22 days ago

Leasehold

Refurb/BRRR

ROI: 13%

~93 m²

+3 photos

ValuationFair Value

Sold Prices	£35K - £151.8K
Sold Prices/m²	£479/m² - £1.6K/m²

Square Metres	~93 m²
Price/m²	£753/m²
Value Estimate	£70,700£70,700

End Value (After Refurb)	£114,483£114,483
Uplift in Value	+64%+64%

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£17,500£17,500
Stamp Duty & Legal Fees	£4,700£4,700
Refurb Costs	£35,501£35,501
Bridging Loan Interest	£1,838£1,838
Total Cash In	£61,288£61,288

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£114,483£114,483
Mortgage (After Refinance)	£85,862£85,862
Mortgage LTV	75%75%
Cash Released	£33,362£33,362
Cash Left In	£27,927£27,927
Equity	£28,621£28,621
Rent Range	£515 - £3,500£515 - £3,500
Rent Estimate	£1,319
Running Costs/mo	£642£642
Cashflow/mo	£677£677
Cashflow/yr	£8,129£8,129
ROI	13%13%
Gross Yield	23%23%

Local Sold Prices

44 sold prices from £35K to £151.8K, average is £75K. £479/m² to £1.6K/m², average is £988/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£82K	06/21	0.04 mi	157, Imeary Street, South Shields, Tyne And Wear NE33 4ES	£1,242	66	3	Flat
£105K	03/23	0.08 mi	140, Westoe Road, South Shields, Tyne And Wear NE33 3PF	£1,010	104	3	Flat
£60K	01/21	0.23 mi	24, Northcote Street, South Shields, Tyne And Wear NE33 4BY	-	-	3	Flat
£123K	06/23	0.25 mi	12, St Vincent Street, South Shields, Tyne And Wear NE33 3AR	£1,268	97	3	Flat
£82.5K	11/21	0.26 mi	22, Readhead Avenue, South Shields, Tyne And Wear NE33 3AW	£1,213	68	3	Flat
£55K	03/21	0.26 mi	22, Readhead Avenue, South Shields, Tyne And Wear NE33 3AW	£809	68	3	Flat
£65K	12/20	0.26 mi	48, Marlborough Street North, South Shields, Tyne And Wear NE33 4DA	£942	69	3	Flat
£47K	09/21	0.26 mi	19, Canterbury Street, South Shields, Tyne And Wear NE33 4DQ	-	-	3	Flat
£92K	09/23	0.32 mi	115, Canterbury Street, South Shields, Tyne And Wear NE33 4DD	£1,108	83	3	Flat
£83K	02/21	0.32 mi	99, St Vincent Street, South Shields, Tyne And Wear NE33 3AS	£1,153	72	3	Flat
£65K	10/23	0.33 mi	186, Western Approach, South Shields, Tyne And Wear NE33 5DP	£756	86	3	Flat
£60K	06/21	0.34 mi	21, Marshall Wallis Road, South Shields, Tyne And Wear NE33 5PD	£822	73	3	Flat
£75K	08/21	0.34 mi	40, Coleridge Avenue, South Shields, Tyne And Wear NE33 3HA	£1,103	68	3	Flat
£70K	02/21	0.35 mi	1, Candlish Street, South Shields, Tyne And Wear NE33 3JW	£864	81	3	Flat
£90K	08/23	0.36 mi	63, Osborne Avenue, South Shields, Tyne And Wear NE33 3BX	£1,153	78	3	Flat
£88K	07/21	0.36 mi	9, Oxford Avenue, South Shields, Tyne And Wear NE33 4TW	£1,073	82	3	Flat
£95K	05/23	0.37 mi	1, Garrick Street, South Shields, Tyne And Wear NE33 4JT	£1,381	69	3	Flat
£57K	12/20	0.4 mi	45, Lyndhurst Street, South Shields, Tyne And Wear NE33 2TA	-	-	3	Flat
£80K	08/23	0.41 mi	79, Bewick Street, South Shields, Tyne And Wear NE33 4JU	-	-	3	Flat
£40K	12/20	0.41 mi	150, Eglesfield Road, South Shields, Tyne And Wear NE33 5PX	£678	59	3	Flat
£90K	12/21	0.43 mi	252, St Vincent Street, South Shields, Tyne And Wear NE33 3BH	£1,111	81	3	Flat
£56K	12/20	0.43 mi	92, Collingwood Street, South Shields, Tyne And Wear NE33 4JY	£824	68	3	Flat
£55K	08/23	0.43 mi	124, Mortimer Road, South Shields, Tyne And Wear NE33 4UQ	£618	89	3	Flat
£87.5K	07/23	0.45 mi	18, Armstrong Terrace, South Shields, Tyne And Wear NE33 4LE	-	-	3	Flat
£75K	01/21	0.47 mi	32, Erskine Road, South Shields, Tyne And Wear NE33 2TH	£1,119	67	3	Flat
£58K	10/20	0.5 mi	18, Eccleston Road, South Shields, Tyne And Wear NE33 3BS	£935	62	3	Flat
£90K	08/21	0.59 mi	11, Tadema Road, South Shields, Tyne And Wear NE33 3BG	-	-	3	Flat
£63K	02/23	0.59 mi	22, Hatfield Square, South Shields, Tyne And Wear NE33 2RD	-	-	3	Flat
£112K	09/23	0.61 mi	96, Birchington Avenue, South Shields, Tyne And Wear NE33 4SA	£1,087	103	3	Flat
£88K	11/20	0.61 mi	96, Birchington Avenue, South Shields, Tyne And Wear NE33 4SA	£854	103	3	Flat
£35K	02/23	0.67 mi	440, John Williamson Street, South Shields, Tyne And Wear NE33 5HW	£479	73	3	Flat
£116K	04/23	0.81 mi	37, Roman Road, South Shields, Tyne And Wear NE33 2HA	£1,646	70	3	Flat
£65K	02/21	0.83 mi	48, Henry Nelson Street, South Shields, Tyne And Wear NE33 2EZ	£942	69	3	Flat
£58K	04/23	0.83 mi	7, Whitehall Street, South Shields, Tyne And Wear NE33 4SU	£906	64	3	Flat
£72.5K	08/22	0.84 mi	46, Richmond Road, South Shields, Tyne And Wear NE34 0QL	£989	73	3	Flat
£80K	03/21	0.88 mi	27, Fairles Street, South Shields, Tyne And Wear NE33 2ER	£988	81	3	Flat
£73K	01/21	0.88 mi	10, Ashley Road, South Shields, Tyne And Wear NE34 0PD	£901	81	3	Flat
£151.8K	08/21	0.89 mi	25a, Lawe Road, South Shields, Tyne And Wear NE33 2EX	-	-	3	Flat
£65.5K	09/21	0.91 mi	3, Whitehead Street, South Shields, Tyne And Wear NE33 5LZ	£885	74	3	Flat
£82K	12/20	0.92 mi	14, Julian Street, South Shields, Tyne And Wear NE33 2EP	£1,206	68	3	Flat
£90K	01/21	0.96 mi	48, Crofton Street, South Shields, Tyne And Wear NE34 0QP	£1,154	78	3	Flat
£60K	02/23	0.98 mi	82, Gordon Road, South Shields, Tyne And Wear NE34 0QR	£813	74	3	Flat
£120K	08/23	1 mi	94, Roman Road, South Shields, Tyne And Wear NE33 2AP	£1,008	119	3	Flat
£49.7K	01/21	1 mi	123, Talbot Road, South Shields, Tyne And Wear NE34 0RG	£629	79	3	Flat

Local Rents

38 rents from £515/mo to £3.5K/mo, average is £898/mo.

Rent	Date	Distance	Address	Beds	Type
£775	06/24	0.16 mi	Robert Street, South Shields	3	Terraced House
£725	05/24	0.17 mi	-	3	Flat
£575	05/24	0.17 mi	-	3	Flat
£1,800	05/24	0.18 mi	-	3	Terraced House
£1,800	04/24	0.18 mi	-	3	Terraced House
£3,500	03/25	0.18 mi	-	3	Flat
£850	12/24	0.21 mi	-	3	Terraced House
£875	12/24	0.25 mi	-	3	Terraced House
£2,000	05/24	0.27 mi	-	3	Flat
£2,000	07/24	0.27 mi	-	3	Flat
£880	12/24	0.27 mi	-	3	Semi-Detached House
£850	12/24	0.27 mi	Fitzpatrick Place, Tyne And Wear, NE33	3	Semi-Detached House
£795	05/24	0.27 mi	-	3	Terraced House
£515	01/25	0.3 mi	-	3	Flat
£625	03/25	0.31 mi	-	3	Flat
£720	03/24	0.31 mi	Gordon Street, South Shields, Tyne And Wear, NE33	3	Semi-Detached House
£700	03/25	0.33 mi	-	3	Flat
£1,800	06/24	0.36 mi	-	3	Flat
£1,500	12/24	0.36 mi	-	3	Flat
£2,250	05/24	0.36 mi	-	3	Semi-Detached House
£2,250	07/24	0.36 mi	-	3	Semi-Detached House
£2,250	01/25	0.36 mi	-	3	Semi-Detached House
£2,200	04/25	0.36 mi	-	3	Semi-Detached House
£2,500	06/24	0.37 mi	-	3	Terraced House
£2,350	06/24	0.37 mi	-	3	Terraced House
£750	05/24	0.38 mi	-	3	Flat
£600	05/24	0.4 mi	-	3	House
£595	02/25	0.4 mi	-	3	Flat
£1,800	06/24	0.4 mi	-	3	Flat
£1,500	01/25	0.4 mi	-	3	Flat
£1,500	03/25	0.4 mi	-	3	Flat
£895	05/24	0.42 mi	Erskine Road, South Shields, Tyne and Wear, NE33	3	Flat
£650	05/24	0.43 mi	-	3	Flat
£750	01/25	0.44 mi	-	3	Flat
£900	06/24	0.45 mi	Palace Close South Shields	3	House
£695	12/24	0.47 mi	Ravensworth Terrace, South Shields	3	Flat
£999	05/24	0.47 mi	Laygate, South Shields, Tyne and Wear, NE33	3	Flat
£1,400	01/25	0.52 mi	-	3	Semi-Detached House

Local Area Statistics

Population in NE33	27,26227,262
Population in South Shields	79,43279,432
Town centre distance	0.53 miles away0.53 miles away
Nearest school	0.20 miles away0.20 miles away
Nearest train station	0.17 miles away0.17 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+19%+19%
Sales demand	Seller's marketSeller's market
Capital growth (5yrs)	+8%+8%

Property History

Listed for £70,000

March 20, 2025

Floor Plans

Description

THREE BEDROOM UPPER FLAT +
GAS CENTRAL HEATING AND DOUBLE GLAZED +
GREAT LOCATION AND AMENITIES +
NO UPPER CHAIN AND VACANT POSSESSION +

We are delighted to offer to the market this three bedroom upper flat on the popular Imeary Street, South Shields. Benefiting from gas central heating and double glazing, the property is in need of some updating and would make a great investment.

Comprising briefly :- Upvc door to the entrance hallway with stairs to the first floor landing. Doors to the lounge, bedroom one, bedroom two and bedroom three. A rear lobby leads from the lounge and in turn to the shower room and kitchen. Externally a private yard lies to the rear.

Offered for sale with no upper chain early viewing is essential..

Council Tax Band: A
Tenure: Leasehold
Length Of Lease: 999

Agent Details

Pattinson Estate Agents, South Shields

0191 625 0219

Next Steps?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪

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