1-bedroom flat · NE10 0QT
To rentListed 6 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
Summary Pattinson Estate Agents welcome to the rental market this One Bedroom Upper Flat located on Princess Street, Pelaw.
Ideally located for local amenities, the property is within walking distance of Pelaw High Street and Pelaw Metro Station for direct travel to Newcastle City Centre, Sunderland City Centre, South Shields & Newcastle Airport.
Excellent local road links make travel easy via the A1, A19 & Tyne Tunnel. Briefly comprises; Communal Entrance, Stairs to First Floor, Entrance/Hallway, Bedroom, Bathroom, Kitchen & Lounge.
Call Pattinson Jarrow on or email Tenant Referencing Criteria: Pattinson will undertake referencing checks on all applicants over the age of 18 wishing to move into a rental property.
As part of this process, we will undertake: - A credit check to ensure each applicant does not have any adverse credit such as CCJs (County Court Judgements).
- An affordability assessment to ensure applicant's income will sufficiently cover the rental payments.
- To pass the affordability check, each applicant's gross annual basic income (including benefits and pensions) must be at least 30 times the monthly rental amount (36 times for Ellinson properties).
Eg If the rent is 500 pcm, applicants would need to earn 15,000 as an annual pension or basic salary (excluding commission/bonus) before tax or other deductions were made.
- Each applicant's affordability is assessed individually against the criteria. - Self- will require an accountant's reference and should have accounts for a minimum of two years.
Net profit will be assessed against the affordability requirement of 30 times the monthly rental amount. - Employment checks to confirm your start date, salary and if your position is permanent.
- Homeownership checks (only if you are a homeowner) confirming your mortgage payments are up to date.
- A Landlord reference (if you are currently residing in rented accommodation) confirming you have abided by the terms of the lease.
This will check that the rent was paid on time and in full, there was no antisocial behaviour and the property was looked after in an appropriate manner. - Right to rent' id checks.
If you do not meet the requirement, you will require A homeowner guarantor.
Council Tax Band: A Deposit: 663.46 Entrance Wooden door leading to Entrance, gas central heating radiator, built in storage; Bedroom (3.19m x 3.14m) Double glazed window to side aspect, gas central heating radiator, built in sliding wardrobe; Bathroom (1.69m x 1.77m) A white suite consisting of bath with mains shower over, W/C, pedestal wash hand basin, part tiled walls, extractor; Kitchen (2.02m x 2.40m) A range of wall and base units with contrasting work surfaces, stainless steel sink with mixer tap over, electric oven, gas hob, tiled splashbacks, space for fridge freezer, plumbing for washing machine, combi boiler, gas central heating radiator, laminate flooring, double glazed window to side aspect Lounge/Diner (3.21m x 4.71m) Double glazed window to front and side aspect, gas central heating radiator;
Value & comps
No previous sales on record.
Rental comparables are shown in the Rental section below. Sold comparables remain for area capital context only.
Returns
We're still gathering serviced-accommodation data for this area.
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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
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FAQ
About Princess Street, Gateshead
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