2-bedroom flat · NE2 2RP
To rentListed 5 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
Summary A part furnished two bedroom apartment in Jesmond, Newcastle upon Tyne.
The property offers a practical layout, beginning with an entrance hall featuring a double radiator, understairs cupboard, video security entry system, and wooden flooring, with access to both bedrooms, the bathroom, and the lounge.
Bedroom one is set to the front with a double glazed bay window, radiator, and alcove, while bedroom two is positioned to the rear, benefiting from a double glazed window, double radiator, laminate flooring, and partial coving to the ceiling.
The L shaped bathroom is fitted with a white three piece suite, including a panelled bath with mixer shower taps and glass screen, pedestal wash basin, low level w.c., heated towel rail, and extractor fan.
The lounge enjoys a double glazed window to the rear and leads directly into the kitchen, which is equipped with a range of wall and floor units, gas hob with extractor, electric oven, wall mounted gas central heating boiler, and white goods.
The kitchen also provides access to the rear yard with shared access. On street parking is available, and the property benefits from gas central heating and an EPC rating of 60.
Virtual Tour Link: 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: B Deposit: 1,384.61 External Entrance door leading to communal hallway to front.
Rear yard with shared access Entrance Hall Entrance hall, double radiator, understairs cupboard, video security entry system, wooden flooring, doors to bedroom 1, bedroom 2, bathroom and lounge Lounge (3.75m x 3.10m) Double glazed window to rear, radiator, door to kitchen Kitchen (3.36m x 2.94m) Range of wall and floor units, gas hob with extractor over, electric oven, wall mounted gas central heating boiler, white goods included, double glazed window and door to rear Bedroom 1 (4.12m x 4.37m) Double glazed bay window to front, radiator, alcove Bedroom 2 (4.50m x 3.76m) Double glazed window to rear, double radiator, laminate flooring, part coving to ceiling Bathroom (2.76m x 2.80m) L shaped bathroom with white three piece suite, comprising of: Panelled bath with mixer shower taps over and glass shower screen, pedastal wash basin, low level w.c., heated towel rail, extractor fan
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
Agent & docs
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FAQ
About Grosvenor Road, Newcastle upon Tyne
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