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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 -5.0% below area average per sq ft

-5.0%
Potential saving
This Property
£181/sq ft
Area Average
£190/sq ft
Avg Rent (weekly)
£202
Avg Yield
5.8%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£20,000 - £40,000
Target Value
£202,578
10% above area average per sq ft
Potential ROI
-5.8%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
34
Average per month
Market Turnover
31%
Properties sold annually

Local Market Trend (NE5)

Area prices are stable by +1.6% over the last 12 months
3 year growth: 2.1%
5 year growth: 19.6%
Investment Disclaimer: Analysis based on NE5 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. 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
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£641
Based on a loan of £131,250 over 30 years at 4.19% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE