2 Bed Flat, Potential PLO/LOA, Newcastle upon Tyne, NE6 2TH, £45,000

Relton Avenue , Walker, Newcastle Upon Tyne, NE6 2TH - 11 views - 7 months ago

Leasehold
Auction
Negative Equity
ROI: 17%
~68 m²
+5 photos

ValuationUndervalued

Sold Prices£36K - £245K
Sold Prices/m²£617/m² - £3K/m²

 

 

Square Metres

~68.11 m²
Price/m²£661/m²

Value Estimate

£55,800
BMV24%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£11,250

Stamp Duty & Legal Fees

£2,550

Total Cash In

£13,800

 

 

Cash Out

 

Rent Range

£550 - £3,500

Rent Estimate

£450

Running Costs/mo

£251

Cashflow/mo

£199

Cashflow/yr

£2,393

ROI

17%

Gross Yield

12%

Local Sold Prices

50 sold prices from £36K to £245K, average is £75K. £617/m² to £3K/m², average is £1.2K/m².

PriceDateDistanceAddressBeds 
£58K08/230 mi5, Relton Avenue, Newcastle Upon Tyne, Tyne And Wear NE6 2TH2
£55K09/210.04 mi103, Allendale Road, Newcastle Upon Tyne, Tyne And Wear NE6 2SX2
£54.5K06/230.11 mi149, Allendale Road, Newcastle Upon Tyne, Tyne And Wear NE6 2SY2
£60K05/230.15 mi47, Chatsworth Gardens, St Anthonys, Newcastle Upon Tyne, Tyne And Wear NE6 2TN2
£65K12/230.16 mi249, Ayton Street, Newcastle Upon Tyne, Tyne And Wear NE6 2DD2
£62K10/200.24 mi215, Commercial Road, Byker, Newcastle Upon Tyne, Tyne And Wear NE6 2ED2
£129K03/230.31 mi38, The Ropery, Newcastle Upon Tyne, Tyne And Wear NE6 1TY2
£77K02/210.33 mi14, The Oval, Walker, Newcastle Upon Tyne, Tyne And Wear NE6 3LH2
£57.5K01/230.33 mi2a, Dunmorlie Street, Newcastle Upon Tyne, Tyne And Wear NE6 2JL2
£40.8K01/210.33 mi3, Dunmorlie Street, Newcastle Upon Tyne, Tyne And Wear NE6 2JL2
£115K12/220.34 mi47, Foundry Court, Newcastle Upon Tyne, Tyne And Wear NE6 1UG2
£54K12/200.34 mi64, Gillies Street, Newcastle Upon Tyne, Tyne And Wear NE6 2JP2
£85.8K06/230.35 mi45, Foundry Court, Newcastle Upon Tyne, Tyne And Wear NE6 1UG2
£95K11/220.35 mi26, Foundry Court, Newcastle Upon Tyne, Tyne And Wear NE6 1UG2
£186K10/230.36 mi35, St Peters Wharf, Newcastle Upon Tyne, Tyne And Wear NE6 1TW2
£45.8K01/210.37 mi115, Clydesdale Road, Newcastle Upon Tyne, Tyne And Wear NE6 2EQ2
£55.2K11/230.38 mi5, Cullercoats Street, Newcastle Upon Tyne, Tyne And Wear NE6 2JA2
£245K12/210.4 mi7, Chandlers Quay, Newcastle Upon Tyne, Tyne And Wear NE6 1UQ2
£240K04/230.4 mi8, Chandlers Quay, Newcastle Upon Tyne, Tyne And Wear NE6 1UQ2
£50K03/210.4 mi34, Emily Street, Newcastle Upon Tyne, Tyne And Wear NE6 2QY2
£127.2K09/210.42 mi43, Rowes Mews, Newcastle Upon Tyne, Tyne And Wear NE6 1TX2
£90.5K11/210.42 mi14, Rowes Mews, Newcastle Upon Tyne, Tyne And Wear NE6 1TX2
£138K11/220.42 mi38, Rowes Mews, Newcastle Upon Tyne, Tyne And Wear NE6 1TX2
£130K07/230.42 mi10, Rowes Mews, Newcastle Upon Tyne, Tyne And Wear NE6 1TX2
£145K06/230.42 mi39, Rowes Mews, Newcastle Upon Tyne, Tyne And Wear NE6 1TX2
£156K10/230.42 mi37, Rowes Mews, Newcastle Upon Tyne, Tyne And Wear NE6 1TX2
£45K11/220.44 mi299, Benson Road, Newcastle Upon Tyne, Tyne And Wear NE6 2SE2
£50K03/210.46 mi221, Scarborough Road, Newcastle Upon Tyne, Tyne And Wear NE6 2RX2
£40K12/200.47 mi332, Grace Street, Newcastle Upon Tyne, Tyne And Wear NE6 2RP2
£36K02/210.48 mi327, Benson Road, Newcastle Upon Tyne, Tyne And Wear NE6 2SH2
£41.8K05/210.48 mi365, Benson Road, Newcastle Upon Tyne, Tyne And Wear NE6 2SH2
£100K07/230.64 mi94, Fossway, Newcastle Upon Tyne, Tyne And Wear NE6 4QZ2
£81.5K11/200.72 mi97, Walker Road, Newcastle Upon Tyne, Tyne And Wear NE6 1RL2
£92.5K08/210.75 mi109, Albion Row, Newcastle Upon Tyne, Tyne And Wear NE6 1LR2
£93K05/230.78 mi20, Denmark Court, Newcastle Upon Tyne, Tyne And Wear NE6 2UG2
£53K05/210.85 mi11, Kingsmere Gardens, Newcastle Upon Tyne, Tyne And Wear NE6 3NP2
£36K12/200.85 mi51, Kingsmere Gardens, Newcastle Upon Tyne, Tyne And Wear NE6 3NP2
£53K05/210.85 mi30, Kingsmere Gardens, Newcastle Upon Tyne, Tyne And Wear NE6 3NP2
£86.2K06/230.86 mi8, Brough Street, Newcastle Upon Tyne, Tyne And Wear NE6 5EX2
£75K12/230.88 mi8, Marondale Avenue, Newcastle Upon Tyne, Tyne And Wear NE6 4HJ2
£60K06/210.9 mi54, Kentmere Avenue, Newcastle Upon Tyne, Tyne And Wear NE6 4HE2
£78K05/240.94 mi717, Welbeck Road, Newcastle Upon Tyne, Tyne And Wear NE6 4JN2
£110K05/240.94 mi4, Cheltenham Terrace, Newcastle Upon Tyne, Tyne And Wear NE6 5HR2
£70K03/240.94 mi18, Borrowdale Avenue, Newcastle Upon Tyne, Tyne And Wear NE6 4HL2
£73K12/220.95 mi79, Eastbourne Avenue, Newcastle Upon Tyne, Tyne And Wear NE6 4DT2
£77K12/200.95 mi71, Julian Avenue, Newcastle Upon Tyne, Tyne And Wear NE6 4RJ2
£77K12/200.95 mi71, Julian Avenue, Newcastle Upon Tyne, Tyne And Wear NE6 4RJ2
£60.5K01/230.95 mi733, Welbeck Road, Newcastle Upon Tyne, Tyne And Wear NE6 4JN2
£75K11/200.95 mi179, Redgrave Close, Gateshead, Tyne And Wear NE8 3JT2
£80K11/200.95 mi151, Redgrave Close, Gateshead, Tyne And Wear NE8 3JT2

Local Rents

48 rents from £550/mo to £3.5K/mo, average is £800/mo.

RentDateDistanceAddressBeds 
£85011/240.05 mi-2
£78006/240.08 mi-2
£80001/250.13 mi-2
£57506/240.18 miChatsworth Gardens, St. Anthonys, Newcastle Upon Tyne, NE62
£57506/240.18 mi-2
£3,50003/250.18 mi-2
£94510/240.23 mi-2
£89503/250.23 mi-2
£1,15006/240.24 mi-2
£55006/240.3 miCanterbury Street, Newcastle Upon Tyne, NE62
£55007/240.3 mi-2
£89506/240.31 mi-2
£82505/240.31 miThe Ropery, St Peter's Basin, Newcastle Upon Tyne, Tyne and Wear, NE62
£82507/240.31 miThe Ropery, Newcastle Upon Tyne, NE62
£82507/240.31 miThe Ropery, St Peter's Basin, Newcastle Upon Tyne, Tyne and Wear, NE62
£95005/240.31 miThe Ropery, St Peter's Basin, Newcastle upon Tyne2
£1,40008/240.32 mi-2
£1,19904/250.32 mi-2
£99503/250.34 mi-2
£80007/240.35 miFoundry Court, St Peters Basin, Newcastle, NE62
£80007/240.35 miFoundry Court, St. Peters Basin, NE62
£80005/240.36 miLamerton Avenue, Newcastle Upon Tyne, NE6 3LF2
£55006/240.37 miClydesdale Road, Newcastle Upon Tyne2
£72505/240.38 miWelbeck Mews, Walker, NE62
£70006/240.38 miHarriet Street, Byker, Newcastle Upon Tyne2
£70007/240.38 miHarriet Street, Byker, Newcastle Upon Tyne2
£92507/240.43 miRowes Mews, Newcastle Upon Tyne, Tyne and Wear, NE6 1TX2
£59005/240.43 miBenson Road, Newcastle Upon Tyne, NE62
£87504/250.43 mi-2
£90004/250.43 mi-2
£90006/240.44 miFriars Wharf Apts, Gateshead2
£80007/240.44 miFriars Wharf, Gateshead2
£61512/240.44 mi-2
£65006/240.44 miGrace Street, Walker, Newcastle upon Tyne, Tyne and Wear, NE6 2RP2
£90006/240.45 miFriars Wharf, Green Lane, Gateshead, Tyne and Wear, NE102
£80006/240.45 miRowes Mews, St. Peters Basin, Newcastle upon Tyne, Tyne and Wear2
£89501/250.45 mi-2
£1,00006/240.45 miFriars Wharf, Gateshead, NE102
£87507/240.45 miFriars Wharf, Green Lane, Gateshead2
£95007/240.45 miGreen Lane, Gateshead2
£62510/240.45 mi-2
£62503/250.47 mi-2
£69502/250.48 mi-2
£60005/240.49 mi-2
£70006/240.53 miScarborough Road, Byker, Newcaslte Upon Tyne2
£70007/240.53 miScarborough Road, Byker, Newcaslte Upon Tyne2
£70007/240.53 miScarborough Road, Byker, Newcaslte Upon Tyne2
£69511/240.58 mi-2

Local Area Statistics

Population in NE6

50,441

Population in Newcastle upon Tyne

381,037

Town centre distance

4.53 miles away

Nearest school

0.20 miles away

Nearest train station

0.56 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+23%

Sales demand

Seller's market

Capital growth (5yrs)

+31%

Property History

Listed for £45,000

-22%

August 30, 2024

Sold for £55,000

2005

Sold for £63,000

2005

Sold for £10,000

1999

Sold for £7,000

1996

Sold for £6,500

1996

Description

  • Two Bedrooms +
  • Ground Floor Flat +
  • Currently Tenanted at £450pcm +
  • Investment Opportunity +
  • Close to Local Amenities & Transport Links +
  • Viewing Recommended +

This property is for sale by the Modern Method of Auction, meaning the buyer and seller are to Complete within 56 days (the "Reservation Period"). Interested parties personal data will be shared with the Auctioneer (iamsold).
If considering buying with a mortgage, inspect and consider the property carefully with your lender before bidding.
A Buyer Information Pack is provided. The buyer will pay £300.00 including VAT for this pack which you must view before bidding.
The buyer signs a Reservation Agreement and makes payment of a non-refundable Reservation Fee of 4.50% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. This is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. 

ENTRANCE HALL Double glazed entrance door. 

LOUNGE 13' 1" x 13' 1" (4m x 4m) Window to rear, marble effect fireplace, television point, telephone point, radiator. 

KITCHEN 6' 6" x 6' 6" (2'7m x 2'4m) Fitted wall and base units, built in electric oven, built in electric hob, tiled walls, single drainer sink, double glazed window to rear. 

MASTER BEDROOM 9' 10" x 13' 1" (3'8m x 4'0m) Window to front, radiator 

BEDROOM 2 6' 6" x 6' 6" (2'8m x 2'3m) Window to rear, radiator 

BATHROOM 3' 3" x 6' 6" (1'4m x 2'2m) White suite, panelled bath with shower over, pedestal wash hand basin, low level WC, extractor fan and radiator. 

REAR GARDEN shared access, laid mainly to lawn, gate access

Agent Details

Safe & Secure Properties, Houghton Le Spring

0191 625 1035

Next Steps?

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