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Mirlaw Road, Cramlington

North East

£85,000
Listed on 16/10/2025

Property Details

Bedrooms
2
Type
Flat

Description

This first-floor flat is situated in a desirable residential area of Cramlington, renowned for its proximity to a variety of local amenities. The property features an entrance lobby that leads to a spacious living room with ample natural light, two bedrooms, a fitted kitchen, and a shower room with WC. An added bonus is the rear garden, which offers potential for landscaping or outdoor enjoyment, along with a single car garage in a nearby block providing further convenience. While the flat presents as move-in ready, it also provides ample opportunity for personalization and renovation, appealing to those interested in enhancing its value through updates. The property benefits from gas-fired radiator central heating and UPVC double glazing, contributing to both comfort and energy efficiency. With 128 years remaining on the lease, this flat stands out as an attractive investment opportunity for buyers looking to enter the rental market or for those interested in developing the space according to their vision.

Investment Analysis

(NE23 area)
Area Average
£217/sq ft
Avg Rent (weekly)
£201
Avg Yield
4.5%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£15,000 - £25,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
41
Average per month
Market Turnover
27%
Properties sold annually

Local Market Trend (NE23)

Area prices are stable by +1.1% over the last 12 months
3 year growth: 7.6%
5 year growth: 14.6%
Investment Disclaimer: Analysis based on NE23 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

Mirlaw Road, Cramlington
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Mortgage Calculator

£
£
£
%
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years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£311
Based on a loan of £63,750 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