2 Bed Flat, Single Let, Wallsend, NE28 6QH, £50,000

7 Limekiln Court, Wallsend, NE28 6QH - 22 days ago

Leasehold
Auction
BTL
ROI: 19%
52 m²
+8 photos

ValuationUndervalued

Sold Prices£40K - £131.3K
Sold Prices/m²£606/m² - £1.8K/m²

 

 

Square Metres

52 m²
Price/m²£962/m²

Value Estimate

£61,500
BMV23%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£12,500

Stamp Duty & Legal Fees

£3,700

Total Cash In

£16,200

 

 

Cash Out

 

Rent Range

£525 - £800

Rent Estimate

£538

Running Costs/mo

£284

Cashflow/mo

£254

Cashflow/yr

£3,050

ROI

19%

Gross Yield

13%

Local Sold Prices

51 sold prices from £40K to £131.3K, average is £75K. £606/m² to £1.8K/m², average is £1.2K/m².

PriceDateDistanceAddressBeds 
£59.5K06/230.01 mi12, Limekiln Court, Wallsend, Tyne And Wear NE28 6QH2
£71K03/210.1 mi314, High Street East, Wallsend, Tyne And Wear NE28 7JZ2
£85K08/210.19 mi122, Dene Crescent, Wallsend, Tyne And Wear NE28 7SW2
£77.5K01/230.19 mi94, Dene Crescent, Wallsend, Tyne And Wear NE28 7SW2
£80K01/230.2 mi88, Dene Crescent, Wallsend, Tyne And Wear NE28 7SW2
£72K10/230.2 mi131, Holly Avenue, Wallsend, Tyne And Wear NE28 6PE2
£53.3K09/230.2 mi137, Holly Avenue, Wallsend, Tyne And Wear NE28 6PE2
£89K02/230.2 mi19, Dene Crescent, Wallsend, Tyne And Wear NE28 7SN2
£89K02/230.2 mi17, Dene Crescent, Wallsend, Tyne And Wear NE28 7SN2
£89K05/240.2 mi53, Dene Crescent, Wallsend, Tyne And Wear NE28 7SN2
£50K12/220.21 mi244, High Street East, Wallsend, Tyne And Wear NE28 7RX2
£55K10/200.21 mi264, High Street East, Wallsend, Tyne And Wear NE28 7RX2
£58K01/210.26 mi37, South Terrace, Wallsend, Tyne And Wear NE28 6QE2
£60K01/210.27 mi11, Westmoreland Street, Wallsend, Tyne And Wear NE28 7RY2
£55K11/210.27 mi41, Westmoreland Street, Wallsend, Tyne And Wear NE28 7RY2
£80K07/230.28 mi10, Durham Street, Wallsend, Tyne And Wear NE28 7RZ2
£78K12/220.31 mi9, Cumberland Street, Wallsend, Tyne And Wear NE28 7SB2
£80K07/230.34 mi44, Grey Street, Wallsend, Tyne And Wear NE28 7SE2
£50K01/210.37 mi1, Percy Street, Wallsend, Tyne And Wear NE28 7SF2
£90K01/230.37 mi38, Percy Street, Wallsend, Tyne And Wear NE28 7SF2
£69K12/230.37 mi159, Vine Street, Wallsend, Tyne And Wear NE28 6JB2
£75K11/220.38 mi76, Laurel Street, Wallsend, Tyne And Wear NE28 6PQ2
£87.2K02/230.38 mi78, Northumberland Street, Wallsend, Tyne And Wear NE28 7PX2
£62K02/210.41 mi61, Richardson Street, Wallsend, Tyne And Wear NE28 7PS2
£80K10/200.44 mi30, Valley Gardens, Wallsend, Tyne And Wear NE28 7HB2
£73K10/230.44 mi34, Valley Gardens, Wallsend, Tyne And Wear NE28 7HB2
£60.8K02/230.44 mi43, Park Road, Wallsend, Tyne And Wear NE28 6QZ2
£80K10/200.45 mi35, Deneholm, Wallsend, Tyne And Wear NE28 7HE2
£80K09/230.45 mi73, Deneholm, Wallsend, Tyne And Wear NE28 7HE2
£72K03/210.47 mi33, Coronation Street, Wallsend, Tyne And Wear NE28 7LU2
£66K05/210.47 mi90, Deneholm, Wallsend, Tyne And Wear NE28 7HD2
£80K05/230.47 mi60, Deneholm, Wallsend, Tyne And Wear NE28 7HD2
£86K03/240.47 mi56, Deneholm, Wallsend, Tyne And Wear NE28 7HD2
£71K07/230.52 mi106, Park Road, Wallsend, Tyne And Wear NE28 7QR2
£60K04/210.54 mi35, Shafto Street, Wallsend, Tyne And Wear NE28 7AL2
£40K07/210.57 mi10, Burn Terrace, Wallsend, Tyne And Wear NE28 7BJ2
£87.5K10/220.58 mi45, Woodbine Avenue, Wallsend, Tyne And Wear NE28 8HB2
£84K11/210.59 mi57, Northumberland Terrace, Wallsend, Tyne And Wear NE28 7BL2
£71K01/240.63 mi70, Stanley Street, Wallsend, Tyne And Wear NE28 7DD2
£65K06/210.64 mi41, Stanley Street, Wallsend, Tyne And Wear NE28 7DB2
£55K02/230.64 mi67, Stanley Street, Wallsend, Tyne And Wear NE28 7DB2
£85K02/210.66 mi248, Station Road, Wallsend, Tyne And Wear NE28 8RD2
£131.3K09/230.66 mi204, Station Road, Wallsend, Tyne And Wear NE28 8RD2
£95.5K12/220.67 mi147, North Road, Wallsend, Tyne And Wear NE28 8RH2
£95K03/230.67 mi123, North Road, Wallsend, Tyne And Wear NE28 8RH2
£93K11/230.67 mi121, North Road, Wallsend, Tyne And Wear NE28 8RH2
£69.5K07/210.7 mi30, David Street, Wallsend, Tyne And Wear NE28 8RA2
£65K05/210.71 mi24, Agincourt, Hebburn, Tyne And Wear NE31 1AN2
£90K05/210.71 mi10, Agincourt, Hebburn, Tyne And Wear NE31 1AN2
£75K02/240.71 mi26, Agincourt, Hebburn, Tyne And Wear NE31 1AN2
£75K02/240.71 mi26, Agincourt, Hebburn, Tyne And Wear NE31 1AN2

Local Rents

20 rents from £525/mo to £800/mo, average is £623/mo.

RentDateDistanceAddressBeds 
£65011/230.15 mi-2
£69511/240.15 mi-2
£59507/240.19 miDene Crescent, Wallsend, Tyne and Wear, NE282
£65006/240.19 miWallsend, Tyne and Wear, NE282
£57507/240.23 miHigh Street East, Wallsend, Tyne and Wear, NE28 7RX2
£55007/240.24 miDene Crescent, Wallsend2
£55007/240.24 miDene Crescent, Wallsend2
£65005/240.24 miDene Crescent, Wallsend. NE28 7SN. ** Garden & Drive **2
£67504/240.25 mi-2
£55006/240.26 miSouth Terrace, Wallsend, NE282
£52505/240.28 miHolly Avenue, Wallsend2
£55009/230.33 mi-2
£57506/240.36 miPercy Street, Wallsend2
£72007/240.44 mi-2
£65006/240.46 miCoronation Street, Wallsend, North Tyneside, NE282
£60010/230.51 mi-2
£80003/250.53 mi-2
£62002/250.6 mi-2
£62505/240.61 miHugh Street, Wallsend, NE282
£75012/240.61 mi-2

Local Area Statistics

Population in NE28

44,519

Population in Wallsend

44,520

Town centre distance

0.64 miles away

Nearest school

0.20 miles away

Nearest train station

0.33 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+43%

Sales demand

Seller's market

Capital growth (5yrs)

+26%

Property History

Listed for £50,000

March 20, 2025

Floor Plans

Description

  • For Sale by Modern Auction – T & C’s apply +
  • Subject to Reserve Price +
  • Buyers fees apply +
  • The Modern Method of Auction +
  • Two Bedroom Ground Floor Apartment +
  • Great First Buy or Investment +
  • Allocated Parking +
  • Council Tax Band A +
  • Energy Rating C +
  • Leasehold 999 Year Lease from 24th June 1999 +

TWO BED GROUND FLOOR APARTMENT CHAIN FREE ENERGY RATING C
COUNCIL TAX BAND A ALLOCATED PARKING BAY LEASEHOLD 999 Years from 24.06.1999 http:/
ext2buy.iamsold.co.uk

This property is for sale by Modern Method of Auction allowing the buyer and seller to complete within a 56 Day Reservation Period. Interested parties’ personal data will be shared with the Auctioneer (iamsold Ltd). If considering a mortgage, inspect and consider the property carefully with your lender before bidding. A Buyer Information Pack is provided, which you must view before bidding. The buyer is responsible for the Pack fee. For the most recent information on the Buyer Information Pack fee, please contact the iamsold team. The buyer signs a Reservation Agreement and makes payment of a Non-Refundable Reservation Fee of 4.5% of the purchase price inc VAT, subject to a minimum of £6,600 inc. VAT. This Fee is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. The Fee is considered within calculations for stamp duty. Services may be recommended by the Agent/Auctioneer in which they will receive payment from the service provider if the service is taken. Payment varies but will be no more than £960 inc. VAT. These services are optional.

Entrance - The building is entered through a secure intercom entry system, leading into a hallway and property entrance is on the right hand side.

Property Entrance - Timber door leading into communal entrance

Hallway - Electric storage heater and laminate flooring.

Lounge - 3.45m x 4.29m - Double glazed window, laminate flooring.

Kitchen - 2.49m x 3.02m - Double glazed window, part tiled walls, fitted with range of wall and floor units, work surfaces, sink unit, electric hob with an electric oven, extractor hood, tiled flooring.

Bedroom 1 - 3.25m x 3.84m - Double glazed window, electric storage heater, laminate flooring

Bedroom 2 - 3.20m x 1.98m - Double glazed window, electric heater, laminate flooring.

Bathroom - 1.98m x 1.85m - Part tiled walls, WC, wash hand basin, bath with overhead shower.

External - To the front of the property there is allocated parking bay. To the rear there are communal gardens.

Broadband And Mobile - At the time of marketing this information is correct.
Broadband: Highest available Speeds: Download: 1000 Mbps Upload: 1000 Mbps
Mobile: Indoor EE>Likely Three> Limited 02>Limited Vodafone>Likely
Outdoor EE>Likely Three> Likely 02>Likley Vodafone>Likely

Flood Risks - At the time of marketing this information is correct.
Yearly chance of flooding:
Rivers and the sea: Very Low
Surface water: Very Low

Lease & Service Charge - 999 Year Lease from 24 June 1999. We are advised that there is a service charge the amount is yet to be confirmed.

Agent Details

next2buy, Wallsend

0191 625 0941

Next Steps?

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