Buttercross Estates says ..
A rare opportunity to acquire a four-bedroom semi-detached House of Multiple Occupation (HMO), ideally situated in the heart of Newark. This fully licensed property is currently tenanted and generating a healthy rental income, making it an ideal turnkey investment for landlords seeking immediate ...
Property Oracle says ..
The property is a House of Multiple Occupation located on North Gate in Newark, Nottinghamshire. It has 4 bedrooms and 3 bathrooms, and a total area of 887 sqft, situated on a plot of 1160 sqft. The list price is £245,000. The property benefits from a convenient location, being close to Newark North Gate train station (0.72km) and several schools, including Lovers Lane Primary and Nursery School (0.32km) and Magnus Church of England Academy (1.44km). The proximity to these amenities is a positive aspect for potential buyers. Based on the provided images, the property appears to be in a generally fair condition. While some rooms show signs of wear and tear, and could benefit from some modernisation, others appear to be well-maintained. There is evidence of some recent improvements, such as the kitchen. However, some areas, particularly bedrooms, show signs of disorganisation and clutter, which may impact the overall condition assessment. The presence of a small garden is a positive feature. Considering the average house price in the area (£402,872) and the average price per sqft (£391), the list price of £245,000 for this 887 sqft property seems relatively low. However, the condition of the property and the need for potential modernisation should be factored into the price evaluation. The lower prices of nearby properties suggest the property may be priced competitively, although the lack of sqft data for those properties makes a direct comparison difficult. The property includes a small garden area. While not extensive, the presence of a garden is a positive feature, especially in a location like Newark.
Therefore, we give this property 6 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *
- Price
- 7
- Condition
- 6
- Location
- 7
- Land
- 5
- Bedrooms
- 4
- Bathrooms
- 3
- Sqft (est)
- 887.00
- Lot (est)
- 1,160.00
The heatmap indicates the level of crime in the area. The color of the heatmap indicates the crime severity and recency.
Metrics Year-on-Year
- Average area value
- 320,968.00 £Decreased by 12.07 %
- Est sale value
- 313,111.00 £Decreased by 10.63 %
- Average area rental value
- 1,437.00 £/moDecreased by 3.56 %
- Est letting value
- 887.00 £/moUnchanged by 0.00 %
- Est rental Yield
- 5.37 %Increased by 9.59 %
- Crime Rate
- 34.00 %Unchanged by 0.00 %
Agent Activity
Buttercross Estates created the listing.
Nearby Schools
| Name | Type | Ofsted | Distance |
|---|---|---|---|
| Lovers Lane Primary And Nursery School | Community School | Requires improvement | 0.32 KM |
| Mount Cofe Primary School | Academy Converter | 0.33 KM | |
| Christ Church C Of E Primary School | Voluntary Aided School | Requires improvement | 1.39 KM |
| Magnus Church Of England Academy | Academy Sponsor Led | Good | 1.44 KM |
| Barnby Road Academy Primary And Nursery School | Academy Converter | 1.56 KM |
Images
Nearby Streets
| Name | Average Price | Average Sqft | Distance |
|---|---|---|---|
| Cow Lane | £ 0 | 0 | 0.00 KM |
| Queen's Road | £ 0 | 0 | 0.00 KM |
| Ellerslie Close | £ 0 | 0 | 0.00 KM |
| Wilson Street | £ 0 | 0 | 0.00 KM |
| Church Street | £ 289,950 | 0 | 0.00 KM |
Nearby Transport
| Name | NLC | TLC | Distance |
|---|---|---|---|
| Newark North Gate | 6499 | NNG | 0.72 KM |
| Newark Castle | 6498 | NCT | 0.77 KM |
| Collingham | 6349 | CLM | 9.38 KM |
Nearby Listings
| Address | Price | Type | Score | Distance |
|---|---|---|---|---|
| North Gate, Newark | £ 245,000 | BUY | 6 / 10 | 0.00 KM |
| Northgate, Newark | £ 850,000 | BUY | 6 / 10 | 0.12 KM |
| Lovers Lane, Newark, Nottinghamshire, NG24 | £ 159,950 | BUY | 7 / 10 | 0.13 KM |
| North Gate, NEWARK | £ 165,000 | BUY | 5 / 10 | 0.14 KM |
| North Gate, Newark | £ 185,000 | BUY | 6 / 10 | 0.14 KM |
Nearby Properties
| Address | Price | Distance |
|---|---|---|
| 102b North Gate | £ 99,950 | 0.02 KM |
| 78 North Gate | £ 75,000 | 0.02 KM |
| 102 North Gate | £ 83,000 | 0.02 KM |
| 84 North Gate | £ 45,560 | 0.02 KM |
| 88 North Gate | £ 189,000 | 0.03 KM |