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See how verdicts work2-bedroom flat · NE9 6RD
Sold STCReduced £10k (−14.3%) on 24 MarListed 249 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
Spacious ground floor flat ideal for investors or owner-occupiers. No onward chain.
Based on an estimated rental income of up to £800 per calendar month (£9,600 per annum), the property offers a strong gross yield of approximately 16% against the asking price of £60,000.
A valid EPC Grade C until June 2032 stands as a testament to the property's energy efficiency and an EICR until January 2028.
A valid EPC Grade C until June 2032 stands as a testament to the property's energy efficiency and an EICR until January 2028.
The accommodation opens into an entrance hall with a large storage cupboard. To the rear are two well-sized double bedrooms.
The bathroom/Wc includes a bath with shower over, heated towel rail and extractor fan.
The living and dining area is a particular highlight, benefitting from a large open-plan layout that provides ample space for both relaxation and entertaining.
The kitchen is fitted with a built-in oven, electric hob with extractor fan above, and a range of storage units, along with an additional storage cupboard.
A separate utility room offers plumbing for a washing machine and space for further white goods. Externally, residents have access to communal gardens which are mainly laid to lawn and fully enclosed.
Gas central heating system via Atlantic combination boiler fitted in 2023 and double glazing. On-street permit parking a modest £35 per year.
The property holds a 125-year lease from 1995, boasting approximately 93 years of lease term. An annual ground rent of £10 and a monthly service charge of approximately £40.
(We have been verbally advised these details from the seller and the full details of the lease will be confirmed by solicitors).
MAKING AN OFFER Please note that all offers will require financial verification including mortgage agreement in principle, proof of deposit funds, proof of available cash and full chain details including selling agents and solicitors down the chain.
Under New Money Laundering Regulations we require proof of identification from all buyers before acceptance letters are sent and solicitors can be instructed.
IMPORTANT NOTE TO POTENTIAL PURCHASERS & TENANTS: We endeavour to make our particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and none is to be relied upon as statements of representation or fact.
The services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency is given.
All photographs and measurements have been taken as a guide only and are not precise. Floor plans where included are not to scale and accuracy is not guaranteed.
If you require clarification or further information on any points, please contact us, especially if you are traveling some distance to view.
POTENTIAL PURCHASERS: Fixtures and fittings other than those mentioned are to be agreed with the seller.
POTENTIAL TENANTS: All properties are available for a minimum length of time, with the exception of short term accommodation. Please contact the branch for details.
A security deposit of at least one month’s rent is required. Rent is to be paid one month in advance. It is the tenant’s responsibility to insure any personal possessions.
Payment of all utilities including water rates or metered supply and Council Tax is the responsibility of the tenant in most cases. QLF250436/2
Value & comps
No previous sales on record.
Returns
Set an offer; the calculator follows it.
We're still gathering serviced-accommodation data for this area.
Archie refurb estimate: a Pro feature
0.0% below asking
This is not financial or investment advice. Prop AI Deals is not authorised by the Financial Conduct Authority (FCA) to provide investment advice.
All investment calculators, property analyses, and AI-generated insights are for informational purposes only. Property investment carries risk and may result in financial loss. All calculations should be independently verified and you should consult with FCA-authorised financial advisers before making any investment decisions.
Past performance does not guarantee future results. Tax implications vary by individual circumstances.
Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
Area
Agent & docs
FAQ
About Leeming Gardens, Sheriff Hill, Gateshead, NE9
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