According to the public record, 49, Penrith Gardens, Gateshead is a leasehold apartment.
By comparing it to neighbours, we estimate that it is a mid-century apartment with 723 ft2 of internal area.
Apartments of this size in this area normally have 2 bedrooms.
Penrith Gardens, Gateshead, NE9 is located in the borough of Gateshead within the NE9 postal district.
49, Penrith Gardens, Gateshead has a single entry in the Land Registry database from April 2007 and no records in the EPC database.
We combine this sold price information with public data of neighbouring properties to estimate the attributes and values.
Based on public information available, and assuming the property is in reasonable condition, we estimate the current sale value for 49 Penrith Gardens Gateshead as £66,768 and the rental value as £507 per month giving an expected gross yield of 9.1%.
Over the last 12 months the sale value of 49 Penrith Gardens Gateshead has increased by £1,570 (2.4%) and its rental value has increased by £48 per month (9.5%).
Decorative condition can have a big effect on a property's value and this effect varies depending on the type, size and location of the property.
If 49, Penrith Gardens, Gateshead is in very good condition we estimate a sale value of £70,106 and rental value of £532 per month.
However, if the property needs a lot of cosmetic work we estimate a sale value of £62,094 and a rental value of £471 per month.
If you were able to purchase this property for the estimated value of £66,768, and assuming a 25 year repayment term, a 15% deposit and a fixed rate of 4.89%, your monthly repayments would be £328 per month.
This figure is only an estimate but we've partnered with Mortgage Advice Bureau who can provide a figure tailored for you! Get started using their mortgage finder below.
According to HM Land Registry, 49, Penrith Gardens, Gateshead was last sold on 20 Apr 2007 for £75,500 and was recorded as a leasehold flat.
The property has only had this single sale since 1995.
Since Apr 2007, the market for similar properties has dropped 5.5%
According to the Land Registry and our network of Estate Agents, there have been 3 sales of properties similar to 49, Penrith Gardens, Gateshead within a radius of 540 metres over the last 2 years.
The most recent example is 54, Beacon Lough Road, Gateshead, NE9 6TA, a Leasehold flat which sold for £66,000 in Nov 2021.
Read more about house prices in NE9.
*Nearby is defined as the radius comprising the nearest 2,000 addresses.
Penrith Gardens, Gateshead, NE9 has a total of 53 addresses. According to our analysis of all the public data, 49, Penrith Gardens, Gateshead is the 45th largest and the 52nd most expensive property on the street.
When compared to the postcode district it is £90k less expensive than the average property in NE9.
The closest station to 49, Penrith Gardens, Gateshead is Heworth station which is 2.7 kilometres away.
The recent census recorded whether a resident owned or rented their home.
In the area around 49, Penrith Gardens, Gateshead, 44.4% of property is socially rented and 22.6% is privately owned outright.
The graph below shows how this compares to Greater London and the rest of England & Wales.
The recent census recorded the highest level of education achieved by residents in the local area.
In the area around 49, Penrith Gardens, Gateshead, 22.6% of residents are recorded as possessing school level qualifications and 18.7% as possessing degree level qualifications.
The graph below shows how this compares to Greater London and the rest of England & Wales
The most recent census in 2021 recorded the age of all UK residents.
In the area around 49, Penrith Gardens, Gateshead, the average age was 39.6 and the most common age was 57.
The graph below shows how this compares to North East and the rest of England & Wales
The recent census recorded whether a property was a primary or secondary home for the resident.
In the area around 49, Penrith Gardens, Gateshead, 0.0% of property was a second home.
Comparison figures for North East and the rest of England & Wales are listed below.
The recent census recorded the number of cars registered in each household.
In the area around 49, Penrith Gardens, Gateshead, there are an average of 0.8 cars per household.
See below for how this compares to North East and the rest of England & Wales.