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Wright Avenue, Newcastle

West Midlands

£70,000
Listed on 06/04/2025

Property Details

Bedrooms
3
Type
Terraced house
Area
742 sqft

Description

This three-bedroom mid-terraced house presents a significant opportunity for renovation, appealing to both investors and homeowners looking to create their ideal living space. While the property currently requires modernization, its solid structure and layout provide a strong foundation for transformation. The main living area is spacious and features traditional elements that can be enhanced with contemporary design choices. Each of the three bedrooms offers ample space, allowing for various uses depending on your vision—be it family rooms, home offices, or guest accommodations. The potential to reconfigure the layout or upgrade finishes offers buyers a chance to add personal touches that reflect their style. Situated in a well-established neighborhood, this property benefits from proximity to key amenities including schools, parks, shopping centers, and public transport options. The location enhances its attractiveness as an investment, given the ongoing demand in the area for residential properties that can be revitalized. This house is not just a project; it’s an invitation to reimagine a home that aligns with current trends and personal preferences. With thoughtful updates and renovations, it could significantly increase its market value while providing comfortable living space in a vibrant community.

Investment Analysis

(ST5 area)

Below Market Value

This property is priced -58.5% below area average per sq ft

-58.5%
Potential saving
This Property
£94/sq ft
Area Average
£228/sq ft
Avg Rent (weekly)
£226
Avg Yield
5.4%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£30,000 - £50,000
Target Value
£185,686
10% above area average per sq ft
Potential ROI
+54.7%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
74
Average per month
Market Turnover
28%
Properties sold annually

Local Market Trend (ST5)

Area prices are rising by +4.8% over the last 12 months
3 year growth: 14.7%
5 year growth: 28.2%
Investment Disclaimer: Analysis based on ST5 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

Wright Avenue, Newcastle
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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
£256
Based on a loan of £52,500 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