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Mount Lonnen, Eighton Banks, Gateshead, NE9 - Image 1
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Mount Lonnen, Eighton Banks, Gateshead, NE9

North East

£145,000

Listed on 08/09/2026

The listing

Property details

Bedrooms
3
Type
Terraced
Area
861 sqft

Features

  • Garage
  • Garden
  • Parking

Description

This three-bedroom mid-terrace home presents a promising opportunity for those looking to invest in a property that requires modernisation. Offered with no chain involved, the house is being sold as seen, allowing for immediate renovation plans to be set in motion. The welcoming entrance lobby leads into a spacious lounge, complete with a fireplace, while the dining area offers ample space for family gatherings, enhanced by French doors that open onto the rear garden. The kitchen is equipped with essential fittings, including space for a fridge/freezer and built-in appliances, though it will benefit from updating. On the first floor, the landing provides access to three bedrooms, including two doubles, and a bathroom featuring a bath with shower attachment. Externally, the property boasts an open-plan front lawn and an enclosed rear garden, ideal for outdoor activities. Additionally, there is the convenience of a garage located within a separate block and extra parking space. With double glazing and gas central heating via a combination boiler already in place, this property has the potential to achieve a market value of around £190,000 post-refurbishment, depending on the quality of work completed. Similar properties in the area can achieve rental incomes of approximately £825 per month, presenting an attractive gross rental yield of about 6.83%. This home is a blank canvas ready for transformation.

WHOTS analysis

Our WHOTS verdict

An internal assessment of the opportunity to acquire, improve and create value.

57out of 100
Grade DWeak opportunity

Confidence: MEDIUM

At £145,000, this three-bedroom terrace is priced attractively at £168/sq ft, around 19% below the local average—a useful entry point for a buyer looking to add value. There’s a clear medium-scale project here: update the dated kitchen and bathroom, refresh the worn finishes and flooring, and reclaim the overgrown rear garden. The separate living and dining areas, garage and additional parking give the house some appealing practical features, while the available views show no obvious major roof or structural failure.

The main caution is the arithmetic: purchase plus the £30,000–£55,000 renovation range looks tight against local benchmarks, with the midpoint all-in cost already above the implied local average. The below-average asking price is a genuine positive, but the finished result and final spend will matter to the investment case.

Key opportunities

  • Replace the visibly worn, dated kitchen and refresh the old-fashioned bathroom as part of a coherent modernisation.
  • Improve the worn interior finishes and flooring, then clear and reshape the overgrown rear garden.
  • Make use of the three-bedroom layout, separate living and dining spaces, and the garage with additional parking.

Key risks

None recorded.

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Map

Location

Mount Lonnen, Eighton Banks, Gateshead, NE9
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Finance

Mortgage calculator

Illustrative repayments based on the asking price, not a mortgage offer.

£
£
£
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years

Current average 2-year fixed rate is 4.45%

Current average variable rate is 6.60%

Monthly Repayments
£548
Based on a loan of £108,750 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.

Tax

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