# 2 bedroom ground floor flat for rent (NE29 0JT) ## Property Details | Key | Value | |-----|-------| | Address | 3 SILKEYS LANE, NORTH SHIELDS, TYNE AND WEAR NE29 0JT | | Price | £595 pcm | | Bedrooms | 2 | | Bathrooms | 1 | | Council tax | A | | Last sold | £17,999 Aug 2011 | ## Description **NEW TO THE MARKET** AJP Property Services are pleased to offer for rent this lovely 2 bed ground floor flat located in Chiron. Situated within walking distance to North Shields City Centre, Metro, local shops and schools. AVAILABLE 15.7.26 AJP Property Services are pleased to offer for rent this lovely ground floor flat in Chirton, North Shields. The property consists of entrance hallway leading to a large living room, recently fitted kitchen with built in oven and hob, two good size bedrooms and modern bathroom with over-bath shower. Externally there is a yard to the rear & parking is on street. The property is situated very close to all amenities and schools making this property very attractive to couples and families Upfront Costs First months rent - £595 Deposit (5 weeks rent) - £686.53 Total - £1281.53 Holding Fee - £137.30 (PLEASE NOTE THIS IS NON-REFUNDABLE IF YOU FAIL REFERENCING OR WITHDRAW FROM THE PROCESS) Council Tax Band A Tenant Referencing Criteria: AJP Property Services will undertake referencing checks on all applicants over the age of 18 wishing to move into a rental property. As part of this process, we will undertake: • A credit check to ensure each applicant does not have any adverse credit such as CCJs (County Court Judgements). • An affordability assessment to ensure applicants income will sufficiently cover the rental payments. • To pass the affordability check, each applicants gross annual basic income (including benefits and pensions) must be at least 30 times the monthly rental amount e.g. if the rent is £500 PCM, applicants would need to earn £15,000 as an annual pension or basic salary (excluding commission/bonus) before tax or other deductions were made. • Each applicants affordability is assessed individually against the criteria. • Self-employed applicants will require an accountants reference and should have accounts for a minimum of two years. • Employment checks to confirm your start date, salary and if your position is permanent. • Homeownership checks (only if you are a homeowner) confirming your mortgage payments are up to date. • A Landlord reference (if you are currently residing in rented accommodation) confirming you have abided by the terms of the lease. This will check that the rent was paid on time and in full, there was no antisocial behaviour and the property was looked after in an appropriate manner. • Right to rent and ID checks. Applicants who are students or are unemployed/work part time and receiving benefits WILL REQUIRE A GUARANTOR. ## Property Photos - ![Photo](/listings/photos/126923456/1600420) - ![Photo](/listings/photos/126923456/1600421) - ![Photo](/listings/photos/126923456/1600423) - ![Photo](/listings/photos/126923456/1600424) - ![Photo](/listings/photos/126923456/1600425) - ![Photo](/listings/photos/126923456/1600426) - ![Photo](/listings/photos/126923456/1600428) - ![Photo](/listings/photos/126923456/1600429) - ![Photo](/listings/photos/126923456/1600430) - ![Photo](/listings/photos/126923456/1600431) - ![Photo](/listings/photos/126923456/1600432) - ![Photo](/listings/photos/126923456/1600435) - ![Photo](/listings/photos/126923456/1600436) - ![Photo](/listings/photos/126923456/1600437) - ![Photo](/listings/photos/126923456/1600438) ## EPC Graphs - ![EPC 1](/listings/photos/126923456/1600439) - EPC 1 ## Sales History *Recorded sales for this property. Data from Land Registry Price Paid.* | Address | Price | Date | Type | |---------|-------|------|------| | 3 SILKEYS LANE, NORTH SHIELDS, NORTH TYNESIDE, TYNE AND WEAR, NE29 0JT | £17,999 | 03/08/2011 | Flat | ## Sold Comparables *Same street and nearby sales within 0.25 miles. Data from Land Registry Price Paid. Last 5 years.* | Address | Price | Date | Type | |---------|-------|------|------| | 6 FRONT TERRACE, NORTH SHIELDS, NORTH TYNESIDE, TYNE AND WEAR, NE29 7QU | £75,000 | 07/10/2024 | Flat | | 10 RUTLAND PLACE, NORTH SHIELDS, NORTH TYNESIDE, TYNE AND WEAR, NE29 0QT | £110,000 | 23/11/2023 | Flat | | 15 CHIRTON GREEN, NORTH SHIELDS, NORTH TYNESIDE, TYNE AND WEAR, NE29 0JR | £85,000 | 17/11/2023 | Flat | | [Same street] 15 SILKEYS LANE, NORTH SHIELDS, NORTH TYNESIDE, TYNE AND WEAR, NE29 0JT | £45,000 | 17/08/2023 | Flat | | [Same street] 11 SILKEYS LANE, NORTH SHIELDS, NORTH TYNESIDE, TYNE AND WEAR, NE29 0JT | £77,000 | 11/08/2023 | Flat | | 3 RUTLAND PLACE, NORTH SHIELDS, NORTH TYNESIDE, TYNE AND WEAR, NE29 0QT | £98,500 | 30/03/2023 | Flat | | 11 MILLBROOK, NORTH SHIELDS, NORTH TYNESIDE, TYNE AND WEAR, NE29 0SQ | £90,000 | 22/09/2022 | Flat | | 17 CHIRTON AVENUE, NORTH SHIELDS, NORTH TYNESIDE, TYNE AND WEAR, NE29 0JS | £81,000 | 16/09/2022 | Flat | | 52 BURT AVENUE, NORTH SHIELDS, NORTH TYNESIDE, TYNE AND WEAR, NE29 7HL | £74,500 | 24/06/2022 | Flat | | 50 BURT AVENUE, NORTH SHIELDS, NORTH TYNESIDE, TYNE AND WEAR, NE29 7HL | £74,500 | 24/06/2022 | Flat | | 14 THORNCLIFFE PLACE, NORTH SHIELDS, NORTH TYNESIDE, TYNE AND WEAR, NE29 0SE | £76,500 | 06/05/2022 | Flat | | 2 THORNCLIFFE PLACE, NORTH SHIELDS, NORTH TYNESIDE, TYNE AND WEAR, NE29 0SE | £66,000 | 18/03/2022 | Flat | | 36 LILBURN STREET, NORTH SHIELDS, NORTH TYNESIDE, TYNE AND WEAR, NE29 0JY | £73,000 | 21/12/2021 | Flat | | 25 BILLY MILL AVENUE, NORTH SHIELDS, NORTH TYNESIDE, TYNE AND WEAR, NE29 0QY | £79,000 | 12/11/2021 | Flat | | 42 RICHMOND GROVE, NORTH SHIELDS, NORTH TYNESIDE, TYNE AND WEAR, NE29 7QZ | £47,000 | 22/09/2021 | Flat | **Street average:** £61,000 (2 sales) **Area average:** £79,231 (13 sales) ## Price vs local average *Outcode + property type (HousePrices, last 2 years).* - **Local average:** £130,523 (40 Flat, NE29, 2024–2026) - **Deviation:** -99.5% ## Rental Range *ONS Price Index of Private Rents (North Tyneside). Low / Realistic / Optimistic = conservative / average / best case.* - **Low:** £761/mo - **Realistic:** £846/mo - **Optimistic:** £931/mo ## LHA (Local Housing Allowance) *VOA 30th percentile rent floor for Tyneside (Apr 2025 – Mar 2026).* - **LHA floor (this property size):** £549/mo ## Rental Comparables *Residential lets from OpenRent and Rightmove for the area (same bedroom count). Use to validate rent estimates. Student lets are excluded.* | Title | Rent | Beds | Distance | As seen on | |------|------|------|------|------| | 2 Bed Flat, Bamborough Terrace, NE30 | £895/mo | 2 | 0.78 miles | OpenRent | **Average rent: £895/mo (1 listing)** ## 1% Rule - **Rent ratio:** 150.42% (strong) - **Max investor price (0.8%):** £111,875 - **Target investor price (1%):** £89,500 *Monthly rent ÷ price. 1%+ = strong, 0.8–1% = okay, <0.8% = weak. Max investor price = rent ÷ 0.8% (Stoke-style target). Target investor price = rent ÷ 1% (strong cashflow band). Based on OpenRent comparables.* ## Rent-driven metrics *Based on OpenRent comparables (median £895/mo).* - **Gross yield:** 1805% - **Cost-to-rent:** 0.1× - **Monthly cashflow:** £778/mo (75% LTV, 3.95% APR (5yr fixed), 25yr term) - **Cash-on-cash ROI:** 5411.7% *Gross yield = annual rent as % of price (no costs). Cost-to-rent = price ÷ annual rent (from OpenRent comparables); under 14× = strong, 14–16× = acceptable, 17×+ = compressed. Cashflow = rent − mortgage − 10% maintenance − £25/mo compliance; assumes 75% LTV, 3.95% APR (5yr fixed), 25yr term. ROI = annual profit ÷ cash in (deposit + 4% purchase costs).* ## Capital growth trend *Land Registry outcode average from sold prices: last 12 months vs 5y and 10y ago.* - **5y growth:** 17.7% - **10y growth:** 66% ## House Price Index (HM Land Registry) *Official index for North Tyneside; Flats and maisonettes series; as of April 2026.* - **1y growth (index):** -2.7% - **5y growth (index):** 8.8% - **10y growth (index):** 26.1% ## Flood risk - **Zone:** 1 - **Risk:** Low - **Source:** Job (default Low) [Check long-term flood risk (GOV.UK)](https://check-long-term-flood-risk.service.gov.uk/postcode)