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2-bedroom flat · NE23 1RU
Sold STCListed 123 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
Well-Presented Ground Floor Flat in Popular Parkside Estate, CramlingtonSituated within the highly sought-after Parkside Estate in Cramlington, this well-presented ground floor flat offers an excellent opportunity for first-time buyers and buy-to-let investors alike.
Conveniently located close to Manor Walks Shopping Centre and benefiting from excellent transport links, the property is offered with no upper chain and a long lease.The accommodation briefly comprises two well-proportioned bedrooms, a spacious lounge, an updated fitted kitchen, and a modern bathroom.
Externally, the property enjoys a private rear garden and a detached garage, providing valuable outdoor space and additional storage.Early viewing is highly recommended to fully appreciate the quality, location, and potential of this lovely home.
Entrance Via UPVC entrance door. Lounge 12.26ft x 11.68ft (3.73m x 3.56m) Double glazed window to front, electric heater, fire surround , television point, telephone point, coving to ceiling.
Kitchen 9.00ft x 7.30ft (2.74m x 2.22m) Double glazed window to rear, fitted with a range of wall, floor and drawer units with coordinating roll edge work surfaces, stainless steel sink unit and drainer with mixer tap, tiled splash backs, built in electric fan assisted oven, electric hob with extractor fan above, space for fridge, plumbed for washing machine, tiling to floor.
Bedroom One 12.39ft x 9.67ft (3.77m x 2.94m) Double glazed window to front, electric heater, coving to ceiling.
Bedroom Two 9.70ft x 7.58ft (2.95m x 2.31m) Double glazed window to rear, electric heater, fitted wardrobes, built in cupboard, coving to ceiling.
Wet Room 5.86ft x 6.67ft (1.78m x 2.03m) Double glazed window to rear, laminate flooring, cladding to walls and ceiling, shower, low level wc, fan heater.
External Rear garden laid mainly to lawn, flower beds, bushes and shrubs. Garage Single garage in block, up and over door.
PRIMARY SERVICES SUPPLY Electricity: Mains Water: Mains Sewerage: Mains Heating: Electric Broadband: None Mobile Signal Coverage Blackspot: No Parking: Garage MINING The North East region is famous for its rich mining heritage and therefore it will be beneficial to conduct a mining search.
Confirmation should be sought from a conveyancer as to its effect on the property, if any. ACCESSIBILITY Wet Room TENURE Leasehold. It is understood that this property is leasehold.
Should you decide to proceed with the purchase of this property, the Tenure and associated details and costs must be verified by your Legal Advisor before you expend costs.
Length of Lease: 189 years from 01.03.1975 Ground Rent: N/a Service Charge: N/A Peppercorn Lease COUNCIL TAX BAND: A EPC RATING: D
Value & comps
No previous sales on record.
Returns
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Archie refurb estimate: a Pro feature
0.0% below asking
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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.
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About Falmouth Walk, Cramlington
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