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See how verdicts work3-bedroom detached house · NE10 9TF
Sold STCReduced £10k (−5%) on 25 OctListed 206 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
***Modern Method Auction*** A spacious three-bedroom home with a loft conversion, balcony and generous living space, offering excellent potential to add value.
Set over three floors, this bright and modern with the added benefit of an unfinished top floor ready to be completed to your own specification.
The ground floor comprises a welcoming entrance hallway with WC, leading into a spacious and light-filled living room – a standout feature of the home, offering ample room for both relaxation and entertaining.
To the rear, the modern fitted kitchen provides a range of wall and base units, generous worktop space and a clean, contemporary finish.
To the first floor are two bedrooms, both well-sized and served by a stylish family bathroom complete with a modern suite and striking tiled finish.
The accommodation on this level is practical and well laid out, ideal for families, guests or home working.
The second floor hosts the principal bedroom, a generous loft space with excellent natural light and access to a private balcony overlooking the rear garden.
This floor is currently unfinished, presenting a fantastic opportunity for buyers to complete and enhance the space to their own taste – whether as a luxurious main bedroom suite, home office or additional living area.
Externally, the property benefits from a private rear garden with a combination of patio and lawn, as well as an elevated decking area – ideal for outdoor seating and entertaining.
To the front, there is a lawned garden and driveway parking.
Auctioneers Comments - This property is for sale by the Modern Method of Auction, meaning the buyer and seller are to Complete within 56 days (the "Reservation Period").
Interested parties personal data will be shared with the Auctioneer (iamsold). If considering buying with a mortgage, inspect and consider the property carefully with your lender before bidding.
A Buyer Information Pack is provided. The winning bidder will pay £349.00 including VAT for this pack which you must view before bidding.
The buyer signs a Reservation Agreement and makes payment of a non-refundable Reservation Fee of 4.5% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT.
This is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. This is considered within calculations for Stamp Duty Land Tax.
Services may be recommended by the Agent or Auctioneer in which they will receive payment from the service provider if the service is taken.
Any payment that will be received by the Agent or Auctioneer will be confirmed to you in writing before services are taken. Services are optional.
Value & comps
No previous sales on record.
See the independent valuation, upside vs guide, and per-strategy max bid for this lot. Sign in to see it.
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 starting price
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 Ellerton Way, Gateshead
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