This three-bedroom semi-detached house is being sold by auction and requires comprehensive modernisation throughout, making it an ideal refurbishment project for investors or homebuyers seeking value-add potential. The property benefits from no onward chain, facilitating a more…
Sold comparables from HM Land Registry underpinning the modelled valuation.
Comparable valuation range
£404,000 – £540,000
Median of 5 sold comparables · midpoint £510,000
Thin evidence
Modelled GDV of £390,000 sits below the comparable range — conservative against the evidence.
Comparable evidence is thin or widely dispersed for this property. Treat the range as indicative and commission a RICS valuation before committing capital.
Sold comparables
335 SALTERS ROADF£148,0002026-03
34 ELMFIELD GARDENSS£404,0002026-02
14 CHOLLERFORD CLOSED£510,0002026-02
11 HALTERBURN CLOSED£540,0002026-02
2 WOODBINE AVENUET£700,0002026-02
Rent evidence
Support for the modelled gross rent of £965/mo.
No local rental comparables attached yet — the modelled rent rests on the regional trend below and should be verified against live lettings.
North East private rents are +2.1% year-on-year (ONS Index of Private Housing Rental Prices).
PDF rendering in progress — refresh in a few minutes.
Executive summary
This is a 3-bedroom semi-detached house on Kenton Road, Newcastle upon Tyne, offered at £130,000 with a GDV of £390,000. The property requires comprehensive modernisation and is being sold by auction with no onward chain. It suits a BRRR strategy for full cash recycle, with monthly rent potential of £965. The 66.7% discount versus comparable sales provides significant equity upside.
Why this deal
The property has been recently reduced and is under SPV ownership, indicating motivated seller conditions. Auction sale enables below-market acquisition at up to £225,038 max offer. Refurbishment of £28,400 unlocks the full value-add potential through modernisation.
Neighborhood
Located in Newcastle upon Tyne's NE3 postcode area. The property offers rental income of £965 per month, supporting local demand for family housing. EPC rating of D indicates scope for efficiency improvements alongside refurbishment.
Photos
Strategy breakdown
We model every credible play this deal supports, then pick the one with the strongest risk-adjusted return on the capital actually required.
Recommended strategy
BRRR
Refinance outcome
Full recycle
Capital deployed: Recycled on refinance
Why this is the recommendation
•BRRR is the recommended play, delivering Full recycle.
•All deployed capital is recycled at the 75% refinance point, releasing funds for the next deal — but the position carries a monthly shortfall of £515 that must be serviced until rent stabilises post-refinance.
•Compared with R2SA (9.4%) and Serviced Accommodation (6.1%), the recommended play balances return against capital recycled at refinance.
Key inputs driving this verdict
Purchase price
£130,000
Refurb budget
£28,400
Interest rate
5.5%
Monthly gross rent
£965
Void allowance
5.0%
Refinance value
£292,500
Full assumptions
Purchase
£130,000
SDLT
£6,600
Legal fees
£1,500
Survey fees
£500
Refurb budget
£28,400
Contingency
10.0%
Interest rate
5.5%
Term (years)
25
Void
5.0%
Management fee
10.0%
Modelled outputs
Gross rent / mo
£965
Net cashflow / mo
£-515
Refi value
£292,500
Money out on refi
£290,500
Assumptions to verify before committing capital
!Refinance value of £292,500 drives full recycle — verify against comparable evidence before committing.
!Refurb budget of £28,400 is load-bearing; a 15% overspend would reduce net return materially. Confirm against the BOQ.
!Modelled at 5.5% interest. The rate-stress table shows the cashflow impact of upward moves — confirm the assumed rate against a current product transfer quote.
How the alternatives compare
Summary view. Full underwriting (transaction stack, debt-service stress, cashflow projection, scenarios) for every play renders below this section.
Strategy
Headline
Net cashflow / mo
Capital
R2SA
Operator arbitrage
9%
£184
£23,395
Serviced Accommodation
Capital held · amortising
6%
£956
£189,340
BTL
Capital held · amortising
4%
£564
£171,240
Flex the assumptions — BTL
Editing the model live is an Investor-tier feature. You're viewing Elaman's base case. Upgrade to flex the inputs.
Inputs
Live outputs
Cash deployed (all-in)
£170,840
Monthly net cashflow
£297
Annual net cashflow
£3,558
Money left in
Full recycle
Cash-on-cash
2.1%
Debt service / mo
£447
Underwriting — BTL
Transaction cost stack
Purchase price
£130,000
SDLT
£6,600
Legal
£1,500
Survey
£500
Broker
£1,000
Refurb
£28,400
Refurb contingency
£2,840
Insurance Y1
£0
All-in
£170,840
Debt service — rate stress
@ 5.5%
£447 / mo
@ 6.5%
£528 / mo
@ 7.5%
£609 / mo
@ 8.5%
£691 / mo
5-year annual cashflow
Year
Rent
Void
Costs
Debt service
Net
Y1
£11,580
£579
£2,080
£5,363
£3,558
Y2
£11,927
£596
£2,130
£5,363
£3,839
Y3
£12,285
£614
£2,181
£5,363
£4,128
Y4
£12,654
£633
£2,233
£5,363
£4,425
Y5
£13,033
£652
£2,287
£5,363
£4,732
Sensitivity — annual net at rent × rate
Rent \ Rate
+0%
+1%
+2%
+3%
-10%
£2,623
£1,648
£673
£-302
-5%
£3,091
£2,116
£1,141
£166
+0%
£3,558
£2,583
£1,608
£633
+5%
£4,026
£3,051
£2,076
£1,101
+10%
£4,493
£3,518
£2,544
£1,568
BRRR refinance ladder
Cash deployed
£170,840
Refi @ 75% GDV
£292,500
Money left in
£0
Payback
Full recycle
Scenarios — annual net
bear
£-12,225
Full recycle
base
£-7,167
Full recycle
bull
£-5,968
Full recycle
Underwriting — Serviced Accommodation
Transaction cost stack
Purchase price
£130,000
SDLT
£6,600
Legal
£1,500
Survey
£500
Broker
£1,000
Refurb
£28,400
Refurb contingency
£2,840
Insurance Y1
£0
All-in
£170,840
Debt service — rate stress
@ 5.5%
£447 / mo
@ 6.5%
£528 / mo
@ 7.5%
£609 / mo
@ 8.5%
£691 / mo
5-year annual cashflow
Year
Rent
Void
Costs
Debt service
Net
Y1
£11,580
£579
£980
£5,363
£4,658
Y2
£11,927
£596
£996
£5,363
£4,972
Y3
£12,285
£614
£1,014
£5,363
£5,295
Y4
£12,654
£633
£1,031
£5,363
£5,628
Y5
£13,033
£652
£1,049
£5,363
£5,970
Sensitivity — annual net at rent × rate
Rent \ Rate
+0%
+1%
+2%
+3%
-10%
£3,613
£2,638
£1,663
£688
-5%
£4,136
£3,161
£2,186
£1,211
+0%
£4,658
£3,683
£2,709
£1,733
+5%
£5,181
£4,206
£3,231
£2,256
+10%
£5,703
£4,728
£3,754
£2,778
BRRR refinance ladder
Cash deployed
£170,840
Refi @ 75% GDV
£292,500
Money left in
£0
Payback
Full recycle
Scenarios — annual net
bear
£-11,290
Full recycle
base
£-6,067
Full recycle
bull
£-4,813
Full recycle
Underwriting — BRRR
Debt service modelled on post-refi loan (£292,500 @ 75% GDV). Pre-refi phase assumes full cash / bridging finance.
Transaction cost stack
Purchase price
£130,000
SDLT
£6,600
Legal
£1,500
Survey
£500
Broker
£1,000
Refurb
£28,400
Refurb contingency
£2,840
Insurance Y1
£0
All-in
£170,840
Debt service — rate stress(post-refi)
@ 5.5%
£1,341 / mo
@ 6.5%
£1,584 / mo
@ 7.5%
£1,828 / mo
@ 8.5%
£2,072 / mo
5-year annual cashflow
Year
Rent
Void
Costs
Debt service
Net
Y1
£11,580
£579
£2,080
£16,088
£-7,167
Y2
£11,927
£596
£2,130
£16,088
£-6,886
Y3
£12,285
£614
£2,181
£16,088
£-6,597
Y4
£12,654
£633
£2,233
£16,088
£-6,300
Y5
£13,033
£652
£2,287
£16,088
£-5,993
Sensitivity — annual net at rent × rate
Rent \ Rate
+0%
+1%
+2%
+3%
-10%
£-8,102
£-11,027
£-13,952
£-16,877
-5%
£-7,634
£-10,559
£-13,484
£-16,409
+0%
£-7,167
£-10,092
£-13,017
£-15,942
+5%
£-6,699
£-9,624
£-12,549
£-15,474
+10%
£-6,232
£-9,157
£-12,081
£-15,007
BRRR refinance ladder
Cash deployed
£170,840
Refi @ 75% GDV
£292,500
Money left in
£0
Payback
Full recycle
Scenarios — annual net
bear
£-12,225
Full recycle
base
£-7,167
Full recycle
bull
£-5,968
Full recycle
Property fact sheet
EPC
D
Local market data
NE3 area · Land Registry Price Paid · last 12 months
Median sale price
£170,000
Year-on-year change
+21.4%
Transactions (12 m)
354
Data current to March 2026. Source: HM Land Registry Open Data.
Demographics
Newcastle upon Tyne 008B area · ONS Census 2021 · IMD 2019
IMD decile
7 / 10 (mid)
Owner-occupied
73.5%
Private rent
12.0%
Source: ONS Census 2021 (TS054 Tenure) · IMD 2019. Captured 2026-06-03.
Schools nearby
No schools found within 1.5 km.
Transport links
Within 3 km · OpenStreetMap data
FawdonRail
913m · 12 min walk · Nexus
Wansbeck RoadRail
1.0km · 13 min walk · Nexus
Regent CentreRail
1.4km · 18 min walk · Nexus
Kingston ParkRail
1.9km · 24 min walk · Nexus
Ilford RoadRail
2.0km · 26 min walk · Nexus
South GosforthRail
2.1km · 27 min walk · Nexus
Source: OpenStreetMap contributors (ODbL). Walking times estimated at 4.8 km/h (5 min per 400 m).
Designations affecting this exact location · planning.data.gov.uk
All clear
No statutory planning constraints found at this location.
Always verify with the local planning authority before committing to works.
Source: planning.data.gov.uk. Designations sourced from local planning authorities.
Physical due diligence
Gas Safety certificate
Medium
Required for all properties with gas supply regardless of age.
Obtain valid Gas Safety Record (CP12) dated within 12 months.
MEES compliant (D)
Low
Current EPC D meets the minimum E rating. Future MEES may raise the bar to C.
Monitor MEES legislative updates; budget for future improvement works.
Refurb — bill of quantities
other£28,400
Room
Item
Qty
Unit £
Total
Kitchen
Replace kitchen
—
—
£5,500
Bathroom
Modernise bathroom
—
—
£4,000
Lounge
Re-plaster and decorate
—
—
£1,500
Bedrooms
Re-plaster and decorate
—
—
£2,500
Throughout
Full electrical rewire
—
—
£6,000
Heating system
Upgrade central heating
—
—
£3,500
Throughout
Install new flooring
—
—
£3,000
Throughout
Internal decoration
—
—
£2,400
Subtotal
£28,400
Contingency (10%)
£2,840
All-in refurb
£31,240
Refurb schedule
Red bars = critical path
Risks & mitigations
Auction lot — verify current status
Legal
high
Property is listed for sale by auction. Confirm whether the auction has run, whether the lot sold under the hammer, and whether any unconditional contracts have been exchanged before any further work.
Mitigation: Direct contact with the auctioneer. Pull and review the legal pack; budget for a pre-auction RICS Level 2 survey even at the lot price.
Refurb scope to be confirmed by survey
Structural
low
Refurb budget set from the engine's per-deal estimate based on build era, EPC band, and condition signals. Actual scope (boiler age, electrics, roof, damp) requires a Level 2 RICS survey.
Mitigation: Commission a Level 2 RICS HomeBuyer survey within 7 days of offer acceptance. 10% refurb contingency assumed.
Title register not yet pulled
Legal
low
HMLR title register has not been retrieved for this property. Standard checks for restrictions, covenants, charges and adverse easements are pending.
Mitigation: Pull the title register (HMLR Search of the Register, £3) post-offer-acceptance, before exchange. Add solicitor review time.
Council intelligence
Unknown
Article 4 direction
Not in force
Mandatory HMO licensing
Required
Additional licensing
Not in force
Selective licensing
Not in force
Location
Kenton Road, Newcastle upon Tyne
Aerial view
Source: Mapbox Satellite
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