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Millway, Tyne and Wear NE9

North East

£107,500
Listed on 25/09/2025

Property Details

Bedrooms
2
Type
Semi-detached house
Area
818 sqft

Description

This two-bedroom semi-detached home, previously owned by an ex-local authority, presents a promising opportunity for renovation and personalization. Located in the desirable Millway area of Gateshead, this property has been a cherished family residence for years and now awaits new owners looking to inject their own style and modern updates. While the home requires some updating, it comes equipped with essential features such as a gas combi central heating system and double glazing throughout, providing a solid foundation for any improvements. The layout is practical, comprising an entrance hallway that leads into a spacious lounge, kitchen/diner area, two generously sized bedrooms, and a family bathroom separate from the WC. Set on well-maintained gardens, the property includes off-street parking at the front—an attractive aspect for families or first-time buyers. With its proximity to local amenities, reputable schools, and efficient transport links, this location adds significant value to the investment potential of the home. Given its scope for enhancement and prime positioning in a sought-after neighborhood, viewing this property is advisable for those looking to create a personalized living space or capitalize on its future rental opportunities.

Investment Analysis

(NE9 area)

Below Market Value

This property is priced -25.7% below area average per sq ft

-25.7%
Potential saving
This Property
£131/sq ft
Area Average
£177/sq ft
Avg Rent (weekly)
£188
Avg Yield
5.5%

Renovation Potential

Est. Renovation Cost
£10,750 - £26,875
10-25% of property value
Target Value
£159,175
10% above area average per sq ft
Potential ROI
+18.5%
After renovation
Monthly Sales
16
Average per month
Market Turnover
52%
Properties sold annually

Local Market Trend (NE9)

Area prices are rising by +2.6% over the last 12 months
3 year growth: 15.1%
5 year growth: 20.3%
Investment Disclaimer: Analysis based on NE9 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

Millway, Tyne and Wear NE9
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