6 St. Patricks Walk, Gateshead, Tyne and Wear NE10 9HF

Description

A one-bedroom bungalow set in a popular location with excellent scope to improve and add value.

Accommodation

The property comprises of entrance hallway, kitchen, lounge, double bedroom, bathroom and storage rooms. Externally, there is a garden.

Location

Felling is a town in the Metropolitan Borough of Gateshead in Tyne and Wear. Amenities are easily accessible locally on Felling High Street and Split Crow Road with a broader range available in the centre of Gatehead (approximately 1.7 miles). Recreational amenities are available nearby at Albion Street Playing Fields, Carr Hill Recreation Ground and Windy Nook Nature Park.

Investment Analysis

The only completed sale supplied is 7 St Patricks Walk at £68,500 on 14 October 2025. It is a terraced property rather than a bungalow, so it provides a relevant local indication but not a directly comparable property. A base GDV of £68,500 is used cautiously; no evidence supports reliable low/high GDV scenarios. The £65,000 guide is £3,500 below this sale, before the buyer premium and any works.

Investment Snapshot

Strategy Recommendation

Do not bid at the guide without an inspection, confirmed works budget, full special conditions and stronger bungalow-specific valuation evidence. The property may merit further due diligence for an owner-occupier or rental strategy, but the current evidence does not demonstrate sufficient margin for a flip or BRRR project.

Works Required

The description states there is scope to improve and add value, but does not identify specific defects, improvements or costs. A survey, inspection and refurbishment quotation are required before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At a 75% refinance of the cautious £68,500 base GDV, the indicative loan would be £51,375. This is below the £65,000 guide even before the minimum £1,860 buyer premium and any refurbishment or finance costs. The cash requirement and refinance viability cannot be fully calculated without a supported works budget and complete auction costs.

Buy-to-Let Analysis

The supplied advertised asking rent is £895 pcm, equating to £10,740 annually and a headline gross yield of 16.52% against the £65,000 guide. This is an advertised asking rent, not achieved or passing rent. A full net yield cannot be established because works, finance, maintenance, insurance, voids, tax and other costs are unavailable. The buyer premium is at least £1,860, before any special-condition fees.

Flip Analysis

The £68,500 base GDV is based on one nearby but non-identical terraced sale. Against the £65,000 guide, only £3,500 of gross headroom exists before the minimum buyer premium, works, selling costs, finance and tax. No supported refurbishment or selling-cost allowance is available, so a reliable flip surplus cannot be calculated.

Investor Risks & Due Diligence

• The only comparable supplied is a terraced property, not a bungalow.

• The description indicates scope to improve, but no defects or refurbishment costs are provided.

• The £895 pcm figure is an advertised asking rent rather than achieved or passing rent.

• The buyer premium is subject to a minimum £1,860, and additional special-condition fees may apply.

• Tenure, occupancy, lease, EPC, council tax, heating and parking information are unavailable.

• The guide-to-GDV margin is limited before buyer premium, works, finance, tax and selling costs.

Recommendation

Do not bid at the guide without an inspection, confirmed works budget, full special conditions and stronger bungalow-specific valuation evidence. The property may merit further due diligence for an owner-occupier or rental strategy, but the current evidence does not demonstrate sufficient margin for a flip or BRRR project.

Strategy Rating

Analysis Confidence

There is one nearby completed sale and one advertised rental asking figure, but the comparable is a different property type and there is no condition, EPC, tenure, occupancy, full-fee, works or selling-cost evidence.