Worst House on the Street Logo
Silver Lonnen, Tyne and Wear NE5 - Image 1
Silver Lonnen, Tyne and Wear NE5 - Image 2
Silver Lonnen, Tyne and Wear NE5 - Image 3
Silver Lonnen, Tyne and Wear NE5 - Image 4
Silver Lonnen, Tyne and Wear NE5 - Image 5

Silver Lonnen, Tyne and Wear NE5

North East

£175,000
Listed on 26/08/2024

Property Details

Bedrooms
3
Type
Semi-detached house
Area
968 sqft

Description

This semi-detached property presents a noteworthy opportunity for those interested in renovation and investment potential. Featuring three bedrooms, a reception area, a kitchen, and a bathroom, this home is primed for transformation. Located in an area with favorable council tax rates (B band), the property is an appealing choice for both first-time buyers and seasoned investors looking to add value through renovation. The interior requires updating, allowing buyers the flexibility to implement their own design choices and create a living space that aligns with modern tastes. Each of the three bedrooms is generously sized, providing comfortable private spaces suitable for families or individuals. The bathroom and kitchen are functional as they stand but present clear opportunities for modernization to enhance utility and aesthetics. The spacious reception room offers versatility for various uses, from entertaining guests to enjoying quiet evenings. Given its semi-detached layout, there is potential for expansion or other alterations (subject to planning permissions), making it an attractive prospect for those seeking long-term investment potential. With some vision and effort, this property can be transformed into a desirable family home or a lucrative rental unit. In summary, this house stands as a blank canvas filled with possibilities, inviting buyers who are ready to take on a project that promises significant rewards in both personal satisfaction and financial gain. Whether you’re looking to create your dream home or capitalize on the rental market, this property represents an exciting venture worth considering.

Investment Analysis

(NE5 area)

Below Market Value

This property is priced -0.9% below area average per sq ft

-0.9%
Potential saving
This Property
£181/sq ft
Area Average
£183/sq ft
Avg Rent (weekly)
£207
Avg Yield
6.9%

Renovation Potential

Est. Renovation Cost
£17,500 - £43,750
10-25% of property value
Target Value
£194,326
10% above area average per sq ft
Potential ROI
-11.2%
After renovation
Monthly Sales
30
Average per month
Market Turnover
64%
Properties sold annually

Local Market Trend (NE5)

Area prices are rising by +6.4% over the last 12 months
3 year growth: 4.0%
5 year growth: 22.0%
Investment Disclaimer: Analysis based on NE5 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

Silver Lonnen, Tyne and Wear NE5
Map showing location of Silver Lonnen, Tyne and Wear NE5
Open Map