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Wallace Street, Newcastle Upon Tyne NE2

North East

£90,000
Listed on 11/10/2025

Property Details

Bedrooms
2
Type
Flat
Area
493 sqft

Description

This two-bedroom flat presents an excellent opportunity for investors or buyers looking to make their mark in a desirable area. While the property requires some updating, it offers a solid foundation with its layout featuring a reception room, kitchen, two bedrooms, and a bathroom. One of the standout benefits of this residence is the allocated parking space—a rare find in such a centrally located neighborhood, significantly enhancing its appeal. The flat’s location allows residents to enjoy easy access to a host of local amenities, including shops, cafes, and restaurants. Public transport links are also conveniently close by, making commuting or exploring the vibrant city center effortless. Surrounded by green spaces and parks, you'll have plenty of opportunities to unwind outdoors. Additionally, being near the Royal Victoria Hospital makes this property an ideal choice for healthcare professionals seeking proximity to their workplace. Newcastle University is also within easy reach, positioning the flat as an attractive option for faculty members or students wanting a short commute. Despite its prime location in the heart of the city, this property falls within council tax band A, providing cost-effective living arrangements. Furthermore, being sold with no upper chain simplifies the acquisition process for potential buyers. In addition to its practical features such as mains electricity and gas central heating, this flat has substantial renovation potential that allows you the opportunity to customize it according to your preferences. With careful planning and updates, you can transform this space into a modern home or maximize its rental value in a market that’s high in demand. Investors and homeowners alike will appreciate not just what this property currently offers but also what it could become with vision and effort.

Investment Analysis

(NE2 area)

Below Market Value

This property is priced -32.2% below area average per sq ft

-32.2%
Potential saving
This Property
£183/sq ft
Area Average
£269/sq ft
Avg Rent (weekly)
£327
Avg Yield
7.7%

Renovation Potential

Est. Renovation Cost
£9,000 - £22,500
10-25% of property value
Target Value
£146,123
10% above area average per sq ft
Potential ROI
+29.9%
After renovation
Monthly Sales
13
Average per month
Market Turnover
26%
Properties sold annually

Local Market Trend (NE2)

Area prices are rising by +8.5% over the last 12 months
3 year growth: -4.3%
5 year growth: 14.4%
Investment Disclaimer: Analysis based on NE2 area averages and may not reflect property-specific factors like condition, exact location, or unique features. 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 NE2
Map showing location of Wallace Street, Newcastle Upon Tyne NE2
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