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£150,000
Bedrooms
Introducing a fantastic investment opportunity, This beautiful first-floor apartment is up for grabs. This apartment boasts a comfortable and spacious living space, comprising of two bedrooms, one bathroom and a gorgeous living room. With a current rental income of 850pcm and achievable 1000pcm based off of the current market statistics.
This property is located in Longbenton which is a vibrant neighborhood and is only a 4 minute walk from the Longbenton metro station which gives you access to the whole city within a short amount of time. There is access to convenience stores, grocery stores and takeaways within a short walking distance. The area is clearly well connected with excellent transport links, making it ideal for both professional and students looking to move around or to Newcastle. It benefits from gas central heating and double glazing as well as allocated parking bay.
Currently the property is tenanted, with a secure tenancy agreement in place until 30th April 2024. This provides a stable and reliable income stream for the discerning investor/buyer. The tenant has taken great care of the property, ensuring its excellent condition throughout their tenancy.
Whether you are a seasoned investor looking to expand your portfolio or a first time buyer seeking a promising investment opportunity, this property is not to be missed. Dont miss out on our exceptional investment opportunity! Contact us today and secure your future on the property market.
Communal entrance
Stairs to second floor
Internal hallway
Radiator, entry phone system, loft hatch, coving to ceiling.
Lounge diner 156 (4.72m) x 1410 (4.52m)
Upvc double glazed window, two radiators, wall mounted fire, tv and telephone points, coving to ceiling.
Kitchen 87 (2.62m) x 80 (2.44m)
Wall and base units with rolltop work surfaces, stainless steel sink and drainer unit, tiled splashback, Upvc double glazed window, radiator, laminate flooring, integrated electric oven and ceramic hob, extractor, integrated fridge freezer, combi boiler enclosed in wall unit.
Bedroom 1 118 (3.56m) x 810 (2.69m)
Upvc double glazed window, radiator
Bedroom 2 99 (2.97m) x 711 (2.41m)
Upvc double glazed window, radiator.
Bathroom
Paneled bath with mains shower over, low level w.c, pedestal hand wash basin, tiled splashback, radiator, vinyl flooring, extractor, shaver point.
Parking
Central Heating
Double Glazing
PROPERTY MISDESCRIPTIONS ACT 1991 For clarification, Jpcc Agents wish to inform prospective purchasers, that we have not carried out a detailed survey, nor have we tested any of the appliances or heating system and cannot give any warranties as to their full working order. Purchasers are advised to obtain independent specialist reports if they have any doubts. All measurements are approximate and should not be relied upon for carpets or furnishings.
Map location is not available for this property.
Your property may be repossessed if you do not keep up repayments on your mortgage.
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Amortization For Monthly Payment: £8,216.87 over 30 years ( Based on 3.20% Interest )
Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.
Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.
Your home may be repossessed if you do not keep up repayments on your mortgage.
The refurbishment budget is set to 2.50% of the purchase price, but this will vary dependent on the suitability of the property for the rental market. Select a value that you feel is appropriate to the condition of the property.
This will vary between lenders, type of report and whether or not you are buying with a mortgage, for advice on which type of survey would be appropriate speak with an advisor from Preston Baker Financial Services.
Lenders will often charge a fees for the arrangement of a mortgage, for advice on what lenders may charge, speak with an advisor from Preston Baker Financial Services. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the sum of mortgage admin, land registry, search, bank transfer and any other fees incurred.
Purchase costs include assumed mortgage and survey costs which are estimated. For a quote contact a Preston Baker Financial Services mortgage advisor who can provide you with current and accurate information. The stamp duty calculation has applid the 3% stamp duty surcharge on the basis that this will be a second property.
The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the percentage of the rent that you will spend maintaining the property.
Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.
Service charge only applies to leasehold properties. The correct figure can found in the Property Information Questionnaire answered by the seller.
This is a standard, indicative figure only. Properties that have a service charge often have this included withing that charge. Please consult the Property Information Questionnaire for more information.
Final Equity Profit = Final Property Value - Mortgage Required - Investment
Cumulative Rental Profit = Annual rental profit x Time of Investment
This is the assumed rate of house price inflation.
This is the property value at the end of the investment based on an assumed rate of % house price inflation.
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