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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 07/09/2026

The listing

Property details

Bedrooms
3
Type
Terraced

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.

55out of 100
Grade DWeak opportunity

Confidence: LOW

This three-bedroom mid-terrace home is priced attractively at £145,000, significantly below the local average sale price of £206,937, offering a potential opportunity for those looking to invest in a renovation project. While the property requires substantial refurbishment, with dated interiors and general wear observed throughout, this presents a canvas for improvement. The kitchen and bathroom are in need of replacement, and the living areas and bedrooms would benefit from modernisation, but the overall structure appears sound, allowing for creative renovations that could enhance the property's appeal.

The property's location offers good rental yield potential, estimated at around 6.83%, which could attract investors looking for a rental opportunity. With a projected post-refurb valuation of £190,000, the financial incentives are promising, provided that the renovations are executed with care. Additionally, the presence of a garage and a rear garden adds to the overall appeal, making this a worthwhile project for the right buyer.

Key opportunities

  • Substantial refurbishment potential across all living spaces, allowing for a complete modernisation.
  • Good rental yield potential, with estimated monthly incomes around £825.
  • Opportunity to increase property value to approximately £190,000 post-renovation.

Key risks

  • General wear and tear throughout the property requires significant investment to modernise.
  • Potential damp or structural issues may need addressing during refurbishment.

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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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£
£
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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.

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