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Wallace Street, Newcastle Upon Tyne

North East

£90,000
Listed on 16/10/2025

Property Details

Bedrooms
2
Type
Flat
Area
493 sqft

Description

This two-bedroom flat presents a unique opportunity for renovation and investment in a desirable area. While the interior requires some updating, it offers a functional layout that includes a single reception room, kitchen, two bedrooms, and a bathroom. The provision for resident parking is an advantageous feature, especially given the property’s proximity to the city center. Located within walking distance of a variety of amenities, this flat benefits from excellent public transport links and is situated near green spaces and parks—ideal for those who appreciate outdoor activities. Its convenient location also makes it particularly appealing for healthcare professionals working at the nearby Royal Victoria Hospital or students and staff at Newcastle University, providing easy access to essential services and educational facilities. The property falls within council tax band A, which adds to its overall affordability and investment attractiveness. Additionally, with no upper chain involved in the sale, the process may be smoother for prospective buyers. The flat's features include mains electricity, water, sewerage, and gas central heating. However, it should be noted that broadband is not currently installed. Given the potential for improvement and value addition through renovations, this property could be a solid investment choice for those looking to capitalize on its prime location in the heart of a vibrant community.

Investment Analysis

(NE2 area)

Below Market Value

This property is priced -33.9% below area average per sq ft

-33.9%
Potential saving
This Property
£183/sq ft
Area Average
£276/sq ft
Avg Rent (weekly)
£480
Avg Yield
9.6%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£10,000 - £20,000
Target Value
£149,702
10% above area average per sq ft
Potential ROI
+36.1%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
17
Average per month
Market Turnover
21%
Properties sold annually

Local Market Trend (NE2)

Area prices are rising by +12.5% over the last 12 months
3 year growth: -2.7%
5 year growth: 17.2%
Investment Disclaimer: Analysis based on NE2 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

Wallace Street, Newcastle Upon Tyne
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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
£330
Based on a loan of £67,500 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