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Gosforth Terrace, Pelaw, Gateshead, NE10 - Image 1

Gosforth Terrace, Pelaw, Gateshead, NE10

North East

£50,000
Listed on 07/03/2026

Property Details

Bedrooms
2
Type
Flat

Description

This ground floor flat offers a promising foundation for those eager to personalize their living space, situated in a well-established residential area. Previously designed as a two-bedroom unit, the current layout features an open dining area that could easily be reverted back into a second bedroom, enhancing its versatility. The property includes an entrance lobby leading to a hallway, a lounge with a charming fireplace as its focal point, a fitted kitchen, and a shower room alongside a generously sized double bedroom with built-in wardrobe space. Traditional coving adds character to the principal bedroom while the rear yard offers some outdoor potential. While the property requires updating, it serves as an excellent opportunity for investors or homeowners looking to execute renovations that reflect their own style. Its location is advantageous, being within close proximity to local shops and transport links via bus and Metro services.

Investment Analysis

(NE10 area)
Area Average
£162/sq ft
Avg Rent (weekly)
£183
Avg Yield
6.5%

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
24
Average per month
Market Turnover
27%
Properties sold annually

Local Market Trend (NE10)

Area prices are stable by -0.7% over the last 12 months
3 year growth: +9.8%
5 year growth: +22.4%
Investment Disclaimer: Analysis based on NE10 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

Gosforth Terrace, Pelaw, Gateshead, NE10
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Mortgage Calculator

£
£
£
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years

Current average 2-year fixed rate is 4.06%

Current average variable rate is 6.81%

Monthly Repayments
£180
Based on a loan of £37,500 over 30 years at 4.06% 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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