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3 Hedgehope, Washington, Tyne and Wear NE37 1SS

North East

£40,000Guide Price

Listed on 08/07/2026

Property details

Bedrooms
2
Type
Ground Flat
Area
560 sqft

Description

This ground floor two-bedroom apartment in Washington, Tyne and Wear, presents a promising opportunity for renovation-focused buyers. Equipped with central heating and double glazing, the property is in reasonable condition; however, it would benefit from cosmetic enhancements to maximize its potential appeal. With a straightforward layout that includes a hallway, lounge, kitchen, two bedrooms, and a bathroom, it's ideally suited for either owner-occupiers looking to customize or landlords aiming for strong rental returns. Given the low ground rent of a peppercorn on a new 990-year lease to be issued upon completion, this property is an attractive investment avenue. Please note that personal inspection is advised prior to bidding as the auction process requires binding contracts upon sale.

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Investment analysis

(NE37 area)

Below Market Value

This property is priced -52.0% below area average per sq ft

-52.0%
Potential saving
This Property
£71/sq ft
Area Average
£149/sq ft
Avg Rent (weekly)
£157
Avg Yield
6.2%

Renovation Potential

Light Refurb
Est. Renovation Cost
£5,000 - £15,000
Target Value
£91,661
10% above area average per sq ft
Potential ROI
+66.7%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
15
Average per month
Market Turnover
18%
Properties sold annually

Local Market Trend (NE37)

Area prices are stable by +0.3% over the last 12 months
3 year growth: +21.7%
5 year growth: +10.9%
Investment Disclaimer: Analysis based on NE37 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

3 Hedgehope, Washington, Tyne and Wear NE37 1SS
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Mortgage calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.45%

Current average variable rate is 6.60%

Monthly Repayments
£151
Based on a loan of £30,000 over 30 years at 4.45% 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.

Stamp duty calculator

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