3 Bed Bungalow, Refurb/BRRR, Grimsby, DN36 4BA, £235,000

31 Sea View Street, Cleethorpes, North East Lincolnshire, DN35 8EU - 2 years ago

Refurb/BRRR
ROI: 1%
~93 m²
+15 photos

ValuationOvervalued

Sold Prices£80K - £372.5K
Sold Prices/m²£1K/m² - £5.9K/m²

 

 

Square Metres

~93 m²
Price/m²£2.5K/m²

Value Estimate

£223,075

 

 

End Value (After Refurb)

£223,382

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£58,750

Stamp Duty & Legal Fees

£15,150

Refurb Costs

£37,609

Bridging Loan Interest

£6,169

Total Cash In

£119,428

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£223,382

Mortgage (After Refinance)

£167,537

Mortgage LTV

75%

Cash Left In

£119,428

Equity

£55,846

Rent Range

£750 - £3,337

Rent Estimate

£1,034

Running Costs/mo

£925

Cashflow/mo

£109

Cashflow/yr

£1,310

ROI

1%

Gross Yield

5%

Local Sold Prices

50 sold prices from £80K to £372.5K, average is £189.5K. £1K/m² to £5.9K/m², average is £2.4K/m².

PriceDateDistanceAddressBeds 
£250K03/210.11 mi34, Coniston Crescent, Humberston, Grimsby, North East Lincolnshire DN36 4AY3
£235K09/210.12 mi11, Derwent Drive, Humberston, Grimsby, North East Lincolnshire DN36 4BB3
£189.9K02/210.12 mi37, Derwent Drive, Humberston, Grimsby, North East Lincolnshire DN36 4BB3
£193K02/210.13 mi94, Coniston Crescent, Humberston, Grimsby, North East Lincolnshire DN36 4AB3
£245K03/230.17 mi280, Grimsby Road, Humberston, Grimsby, North East Lincolnshire DN36 4AF3
£257K12/210.17 mi238, Grimsby Road, Humberston, Grimsby, North East Lincolnshire DN36 4AF3
£200K03/210.17 mi226, Grimsby Road, Humberston, Grimsby, North East Lincolnshire DN36 4AF3
£225K01/230.17 mi236, Grimsby Road, Humberston, Grimsby, North East Lincolnshire DN36 4AF3
£280K05/210.21 mi183, Humberston Road, Cleethorpes, North East Lincolnshire DN35 0PH3
£175K07/230.23 mi186, Grimsby Road, Humberston, Grimsby, North East Lincolnshire DN36 4AG3
£180K01/230.27 mi53, St Christophers Road, Humberston, Grimsby, North East Lincolnshire DN36 4EA3
£320K04/230.27 mi29, Queen Elizabeth Road, Humberston, Grimsby, North East Lincolnshire DN36 4DQ3
£169.9K03/230.29 mi16, Queen Elizabeth Road, Humberston, Grimsby, North East Lincolnshire DN36 4DD3
£125K11/200.29 mi14, Delamere Court, Cleethorpes, North East Lincolnshire DN35 0TT3
£150K07/230.29 mi7, Delamere Court, Cleethorpes, North East Lincolnshire DN35 0TT3
£144.5K08/230.29 mi11, Delamere Court, Cleethorpes, North East Lincolnshire DN35 0TT3
£235K01/230.31 mi306, Grimsby Road, Humberston, Grimsby, North East Lincolnshire DN36 4AA3
£198K03/210.31 mi324, Grimsby Road, Humberston, Grimsby, North East Lincolnshire DN36 4AA3
£210K12/200.31 mi308, Grimsby Road, Humberston, Grimsby, North East Lincolnshire DN36 4AA3
£160K03/210.33 mi10, Marigold Walk, Cleethorpes, Humberside DN35 0SZ3
£160K12/220.33 mi12, St Johns Road, Humberston, Grimsby, North East Lincolnshire DN36 4DY3
£190K04/210.34 mi11, Paul Crescent, Humberston, Grimsby, North East Lincolnshire DN36 4DF3
£245K04/210.37 mi6, The Crofts, Humberston, Grimsby, North East Lincolnshire DN36 4DN3
£190K08/230.38 mi8, Arden Village, Cleethorpes, North East Lincolnshire DN35 0TS3
£165K06/210.38 mi12, Arden Village, Cleethorpes, North East Lincolnshire DN35 0TS3
£185K05/210.38 mi10, Church Avenue, Humberston, Grimsby, North East Lincolnshire DN36 4DB3
£189K02/210.38 mi5, Chaffinch Drive, Cleethorpes, North East Lincolnshire DN35 0ST3
£173K03/210.38 mi10a, Chaffinch Drive, Cleethorpes, North East Lincolnshire DN35 0ST3
£170K08/230.38 mi15, Chaffinch Drive, Cleethorpes, North East Lincolnshire DN35 0ST3
£158K03/210.42 mi13, St Mathews Road, Humberston, Grimsby, North East Lincolnshire DN36 4EE3
£325K02/210.43 mi15, Cheltenham Way, Cleethorpes, North East Lincolnshire DN35 0UG3
£140.1K03/210.44 mi128, Grimsby Road, Humberston, Grimsby, North East Lincolnshire DN36 4AH3
£145K10/220.46 mi78, Wilton Road, Humberston, Grimsby, North East Lincolnshire DN36 4AW3
£301K07/230.48 mi32, Westbury Road, Cleethorpes, North East Lincolnshire DN35 0QE3
£265K11/200.5 mi72, Church Avenue, Humberston, Grimsby, North East Lincolnshire DN36 4HP3
£287.5K10/220.51 mi251, Humberston Avenue, Humberston, Grimsby, North East Lincolnshire DN36 4JA3
£80K05/210.52 mi14, Meadow View, Cleethorpes, North East Lincolnshire DN35 0QU3
£160K10/210.53 mi20, Woodfield Close, Humberston, Grimsby, North East Lincolnshire DN36 4UW3
£240K06/230.53 mi10, Woodfield Close, Humberston, Grimsby, North East Lincolnshire DN36 4UW3
£185K02/230.57 mi25, Westport Road, Cleethorpes, North East Lincolnshire DN35 0QF3
£185K07/230.57 mi35, Glebe Road, Humberston, Grimsby, North East Lincolnshire DN36 4JP3
£142K02/210.59 mi40, Fieldhouse Road, Humberston, Grimsby, North East Lincolnshire DN36 4UJ3
£220K01/210.6 mi10, Mayfair Court, Cleethorpes, North East Lincolnshire DN35 0QG3
£140K06/210.62 mi4, Beech Way, Cleethorpes, North East Lincolnshire DN35 0RG3
£116K09/230.63 mi26, Oak Way, Cleethorpes, North East Lincolnshire DN35 0RA3
£145.5K11/200.63 mi23, Oak Way, Cleethorpes, North East Lincolnshire DN35 0RA3
£372.5K12/220.63 mi19a, Tetney Road, Humberston, Grimsby, North East Lincolnshire DN36 4JE3
£219.9K08/230.63 mi32, Midfield Road, Humberston, Grimsby, North East Lincolnshire DN36 4TH3
£190K06/210.64 mi22, Glebe Road, Humberston, Grimsby, North East Lincolnshire DN36 4JR3
£145K07/220.64 mi14, Glebe Road, Humberston, Grimsby, North East Lincolnshire DN36 4JR3

Local Rents

20 rents from £750/mo to £3.3K/mo, average is £915/mo.

RentDateDistanceAddressBeds 
£87503/240.29 miPrimrose Way, Cleethorpes3
£85001/250.3 mi-3
£89504/240.31 miQueen Elizabeth Road, Humberston, Grimsby3
£92503/240.52 miAlder Avenue, Humberston, Grimsby, Lincolnshire, DN363
£92504/240.64 miFern Close, Humberston, Grimsby, DN363
£90503/240.64 miFern Close, Humberston, Grimsby, Lincolnshire, DN363
£95003/240.71 miPytchley Walk, Cleethorpes, DN353
£75003/240.74 miCottesmore Road, Cleethorpes3
£95003/240.74 miBeaufort Crescent, Cleethorpes3
£89503/240.79 miParklands Avenue, Humberston, Grimsby, Lincolnshire, DN363
£87508/240.92 mi-3
£89505/240.92 miPeterson Drive, Grimsby, DN363
£89504/240.92 mi-3
£89503/240.92 miHarvey Walk, New Waltham, DN363
£92503/241 miGreen Lane, Humberston, GRIMSBY3
£95012/241.06 mi-3
£99503/251.06 mi-3
£3,33702/251.16 mi-3
£1,00004/241.19 mi-3
£1,00004/251.19 mi-3

Local Area Statistics

Population in DN36

19,164

Population in Grimsby

124,581

Town centre distance

2.92 miles away

Nearest school

0.30 miles away

Nearest train station

2.02 miles away

 

 

Rental growth (12m)

-31%

Sales demand

Buyer's market

Capital growth (5yrs)

+14%

Property History

Listed for £235,000

April 6, 2023

Floor Plans

Description

  • Three Bedroom Detached Bungalow +
  • Superb Position Backing Onto Humberston Golf Course +
  • Two Double Bedrooms +
  • Study/Third Bedroom +
  • Spacious Full Width Sun Room +
  • Rear Lounge With Log Burner +
  • Private South Facing Rear Aspect +
  • Excellent Scope For Modernisation +

Located in this sought after residential area, an individual Three Bedroom Detached Bungalow occupying a superb position backing onto Humberston golf course. Offering good sized accommodation, set in attractive gardens enjoying a private south facing rear aspect.
The accommodation comprises; entrance hall, kitchen, a full width sunroom with views of the garden, snug lounge with log burner, two double bedrooms, a study/third bedroom, and a bathroom. Viewing Highly Recommended.

Entrance Hall - A central entrance hall, with built-in storage cupboards, one housing the gas central heating boiler. Feature glazed double doors leading into the lounge.

Kitchen - 4.53 x 2.85 (14'10" x 9'4") - Fitted with a large range of white units and contrasting work surfaces incorporating a resin sink. Integrated dishwasher, plumbing for a washing machine, and space for further appliances. Side aspect window. Open access to:-

Sun Room - 7.26 x 2.77 (23'9" x 9'1") - Overlooking the rear garden, a spacious full width sun room providing dining and sitting areas. With patio doors to the rear, and access to the side of the property. Glazed double doors leading to:-

Lounge - 4.80 x 3.32 (15'8" x 10'10") - Rear lounge with feature fireplace incorporating a log burning stove.

Bedroom 1 - 3.33 x 3.28 (10'11" x 10'9") - Master bedroom with a front aspect window and fitted wardrobes.

Bedroom 2 - 2.74 x 3.29 (8'11" x 10'9") - A second double bedroom, with a side aspect window.

Bedroom 3 - 2.85 x 2.11 (9'4" x 6'11") - Currently used as a study, with a front aspect window.

Bathroom - 2.85 x 1.63 (9'4" x 5'4") - Fitted with a pedestal basin, wc, and corner bath with overhead shower. Heated towel rail, and a side aspect window.

Outside - The property is set in well maintained established gardens, approached by a driveway to the front. The rear garden offers excellent privacy, and is mainly laid to shaped lawn with well stocked beds and borders. Outbuildings include a gazebo with fire pit/ bbq, two sheds, and a spacious garden room. There is a full width paved patio across the back of the bungalow, a courtyard area to the side, and a lean-to currently used as a workshop & potting shed.

Garden Room - 5.39 x 2.52 (17'8" x 8'3") - A versatile room, ideal as a home office, garden bar etc,

Tenure - FREEHOLD

Council Tax Band - C

Agent Details

Argyle Estate Agents, Cleethorpes

01472 404597

Next Steps?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪