[2] It is an early 1960s council housing estate that consists of houses,[3] shops, a leisure centre, Baptist church and social club called "Iscoed Tavern" owned by the company red dragon pubs.

In the early 1980s several huts and a water tower were also visible on the now Waltwood Park Drive area, this area belonged to the General Post Office and was used to house old telecommunications equipment until it was sold and demolished by British Telecom who took over the site when BT was privatised in the early 1980s.

The estate is situated in a natural land formation within the falls of a wooded area on the south and north side and a small drainage ditch or reen called "Monks Ditch" on the northern side of the development.

Many people believe[vague] that the Underwood Estate was created for the local steelworks at Llanwern, as it was constructed at the same time as the Richard Thomas and Baldwins "Spencer Works" was being built.

However, there are moves to change this donation to build upon the land, of which the local residents are ardently opposed to.