According to the public record, 8, Musgrave Terrace, Gateshead is a leasehold apartment.
By comparing it to neighbours, we estimate that it is a period apartment with 587 ft2 of internal area and a garden.
Apartments of this size in this area normally have 2 bedrooms.
Musgrave Terrace, Gateshead, NE10 is located in the borough of Gateshead within the NE10 postal district.
8, Musgrave Terrace, Gateshead has a single entry in the Land Registry database from October 2019 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 8 Musgrave Terrace Gateshead as £63,345 and the rental value as £501 per month giving an expected gross yield of 9.5%.
Over the last 12 months the sale value of 8 Musgrave Terrace Gateshead has increased by £2,089 (3.3%) and its rental value has increased by £50 per month (10.0%).
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 8, Musgrave Terrace, Gateshead is in very good condition we estimate a sale value of £66,512 and rental value of £527 per month.
However, if the property needs a lot of cosmetic work we estimate a sale value of £58,911 and a rental value of £466 per month.
If you were able to purchase this property for the estimated value of £63,345, and assuming a 25 year repayment term, a 15% deposit and a fixed rate of 4.89%, your monthly repayments would be £311 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, 8, Musgrave Terrace, Gateshead was last sold on 25 Oct 2019 for £60,000 and was recorded as a leasehold flat.
The property has only had this single sale since 1995.
Since Oct 2019, the market for similar properties has risen 16.3%
According to the Land Registry and our network of Estate Agents, there have been 3 sales of properties similar to 8, Musgrave Terrace, Gateshead within a radius of 570 metres over the last 2 years.
The most recent example is 6, Princess Street, Gateshead, NE10 0QT, a Leasehold flat which sold for £50,000 in Mar 2016.
Read more about house prices in NE10.
*Nearby is defined as the radius comprising the nearest 2,000 addresses.
Musgrave Terrace, Gateshead, NE10 has a total of 12 addresses. According to our analysis of all the public data, 8, Musgrave Terrace, Gateshead is the 12th largest and the 12th most expensive property on the street.
When compared to the postcode district it is £93k less expensive than the average property in NE10.
The closest station to 8, Musgrave Terrace, Gateshead is Heworth station which is 900 metres away.
According to data from the Environment Agency, the flood risk in this area is considered to be very low.
The recent census recorded whether a resident owned or rented their home.
In the area around 8, Musgrave Terrace, Gateshead, 40.0% of property is privately rented and 31.3% is socially rented.
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 8, Musgrave Terrace, Gateshead, 7.4% of residents are recorded as possessing school level qualifications and 33.6% 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 8, Musgrave Terrace, Gateshead, the average age was 39.7 and the most common age was 27.
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 8, Musgrave Terrace, 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 8, Musgrave Terrace, Gateshead, there are an average of 0.6 cars per household.
See below for how this compares to North East and the rest of England & Wales.