2 Bed Terraced House, Refurb/BRRR, Grimsby, DN31 2QS, £57,500

129 ELSENHAM ROAD, GRIMSBY DN31 2QS - 9 views - 2 years ago

Refurb/BRRR
ROI: 5%
85 m²
+2 photos

ValuationFair Value

Sold Prices£39K - £125K
Sold Prices/m²£512/m² - £2.4K/m²

 

 

Square Metres

85 m²
Price/m²£676/m²

Value Estimate

£58,650

 

 

End Value (After Refurb)

£71,546

Uplift in Value

+24%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£14,375

Stamp Duty & Legal Fees

£4,075

Refurb Costs

£34,425

Bridging Loan Interest

£1,509

Total Cash In

£56,134

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£71,546

Mortgage (After Refinance)

£53,660

Mortgage LTV

75%

Cash Released

£10,535

Cash Left In

£45,600

Equity

£17,887

Rent Range

£450 - £840

Rent Estimate

£579

Running Costs/mo

£359

Cashflow/mo

£220

Cashflow/yr

£2,635

ROI

5%

Gross Yield

12%

Local Sold Prices

50 sold prices from £39K to £125K, average is £69.5K. £512/m² to £2.4K/m², average is £951/m².

PriceDateDistanceAddressBeds 
£42K12/220.07 mi143, Elsenham Road, Grimsby, North East Lincolnshire DN31 2QS2
£60K04/210.08 mi31, Gilbey Road, Grimsby, North East Lincolnshire DN31 2RL2
£70K10/230.23 mi199, Newhaven Terrace, Grimsby, North East Lincolnshire DN31 2RY2
£53K06/210.26 mi93, Haven Avenue, Grimsby, North East Lincolnshire DN31 2NX2
£48.5K02/210.26 mi96, Haven Avenue, Grimsby, Humberside DN31 2NX2
£64K07/230.31 mi40, James Street, Grimsby, North East Lincolnshire DN31 2JD2
£125K11/210.35 mi2, Freshney Drive, Grimsby, North East Lincolnshire DN31 1TP2
£79K07/230.36 mi77, Lister Street, Grimsby, North East Lincolnshire DN31 2JW2
£92K12/220.36 mi59, Lister Street, Grimsby, North East Lincolnshire DN31 2JW2
£70K06/210.37 mi15, Jackson Street, Grimsby, North East Lincolnshire DN31 1TS2
£68K06/210.37 mi82, James Street, Grimsby, North East Lincolnshire DN31 2JE2
£60K02/210.37 mi39, James Street, Grimsby, Humberside DN31 2JE2
£60K04/230.38 mi50, Haven Avenue, Grimsby, North East Lincolnshire DN31 2PB2
£85K07/210.38 mi250, Macaulay Street, Grimsby, North East Lincolnshire DN31 2EP2
£62K03/230.38 mi146, Lord Street, Grimsby, North East Lincolnshire DN31 2NQ2
£76K09/230.39 mi30, York Street, Grimsby, North East Lincolnshire DN31 1TR2
£60K03/230.44 mi1, Richard Street, Grimsby, North East Lincolnshire DN31 2PE2
£69K09/210.47 mi102, Lord Street, Grimsby, North East Lincolnshire DN31 2NG2
£39K02/230.48 mi91, Lime Street, Grimsby, North East Lincolnshire DN31 2HJ2
£60.5K07/210.49 mi34, Haycroft Avenue, Grimsby, North East Lincolnshire DN31 2HN2
£62K10/210.49 mi43, Lawson Avenue, Grimsby, North East Lincolnshire DN31 2EN2
£62K10/210.49 mi43, Lawson Avenue, Grimsby, North East Lincolnshire DN31 2EN2
£76K10/200.51 mi43, Waterside Drive, Grimsby, North East Lincolnshire DN31 1RY2
£87.5K08/230.51 mi11, Waterside Drive, Grimsby, North East Lincolnshire DN31 1RY2
£71K10/200.51 mi33, Waterside Drive, Grimsby, North East Lincolnshire DN31 1RY2
£78K03/210.51 mi21, Waterside Drive, Grimsby, North East Lincolnshire DN31 1RY2
£91.5K04/230.51 mi67, Waterside Drive, Grimsby, North East Lincolnshire DN31 1RY2
£100K03/230.51 mi11, Finchley Court, Grimsby, North East Lincolnshire DN31 2FE2
£90K12/220.51 mi1, Waterside Drive, Grimsby, North East Lincolnshire DN31 1RY2
£58K02/210.52 mi62, Ripon Street, Grimsby, Humberside DN31 2HQ2
£77K11/220.52 mi68, Ripon Street, Grimsby, North East Lincolnshire DN31 2HQ2
£62K08/210.54 mi148, Haycroft Street, Grimsby, Humberside DN31 2ED2
£92.5K08/210.54 mi306, Cromwell Road, Grimsby, North East Lincolnshire DN31 2BN2
£67.5K12/220.54 mi221, Cromwell Road, Grimsby, North East Lincolnshire DN31 2BE2
£90K07/210.54 mi237, Cromwell Road, Grimsby, North East Lincolnshire DN31 2BE2
£46.5K12/200.55 mi8, Dover Street, Grimsby, North East Lincolnshire DN31 2HH2
£58K07/230.55 mi19, Haycroft Avenue, Grimsby, North East Lincolnshire DN31 2DY2
£83K08/230.57 mi5, Wells Street, Grimsby, North East Lincolnshire DN31 2DG2
£117.7K03/230.57 mi10, Harrison Street, Grimsby, North East Lincolnshire DN31 2DX2
£85K05/210.57 mi15, Bramble Close, Grimsby, North East Lincolnshire DN31 2DB2
£95K04/220.57 mi11, Bramble Close, Grimsby, North East Lincolnshire DN31 2DB2
£115K12/210.57 mi3, Bramble Close, Grimsby, North East Lincolnshire DN31 2DB2
£54K02/210.58 mi13, Veal Street, Grimsby, North East Lincolnshire DN31 2HF2
£95K06/230.58 mi23, Clark Avenue, Grimsby, North East Lincolnshire DN31 2BQ2
£72K11/210.58 mi43, Clark Avenue, Grimsby, North East Lincolnshire DN31 2BQ2
£69K08/210.58 mi44, Clark Avenue, Grimsby, North East Lincolnshire DN31 2BQ2
£84K07/220.58 mi22, Clark Avenue, Grimsby, North East Lincolnshire DN31 2BQ2
£63K11/220.58 mi43, Bowers Avenue, Grimsby, North East Lincolnshire DN31 2BG2
£67K11/210.58 mi5, Tennyson Street, Grimsby, North East Lincolnshire DN31 1RJ2
£56K06/210.58 mi91, Earl Street, Grimsby, North East Lincolnshire DN31 2PJ2

Local Rents

33 rents from £450/mo to £840/mo, average is £564/mo.

RentDateDistanceAddressBeds 
£60003/240.22 miBoulevard Avenue, Grimsby2
£65001/240.27 mi-2
£65001/240.27 mi-2
£57503/240.29 miJoseph Street, Grimsby, Lincolnshire, DN312
£62503/240.34 miLister Street, Grimsby2
£56411/240.35 mi-2
£52503/240.45 miHaycroft Street, Grimsby, Lincolnshire, DN312
£55003/240.46 miSaunders Street, Grimsby, Lincolnshire, DN312
£84004/240.46 miMacaulay Park, Grimsby, DN312
£84003/240.46 miDane Park, Hull, HU62
£50003/250.47 mi-2
£50003/240.47 mi-2
£53503/240.48 mi-2
£53503/240.48 mi-2
£49003/240.48 miHaycroft Avenue, Grimsby2
£60003/240.5 miFinchley Court, Grimsby, Lincolnshire, DN312
£59504/240.51 miWaterside Drive, Grimsby, Lincolnshire, DN312
£57504/240.53 miRipon Street, Grimsby, Lincolnshire, DN312
£49503/240.54 miRipon Street, Grimsby2
£65004/240.54 miWaterside Drive, Grimsby2
£52508/240.54 mi-2
£55001/250.54 mi-2
£59510/230.54 mi-2
£45003/240.55 miLynton Parade, Grimsby2
£65003/250.55 mi-2
£55003/240.55 miHaycroft Avenue, Grimsby2
£48503/240.55 miDover Street, Grimsby2
£60003/240.57 mi8 Bowers Avenue, Grimsby2
£67503/240.57 miBramble Close, Grimsby2
£55005/240.6 miMacaulay Street, Grimsby2
£55003/240.6 miMacaulay Street, Grimsby, DN312
£60003/240.6 miBowers Avenue, Grimsby2
£45002/250.6 mi-2

Local Area Statistics

Population in DN31

9,598

Population in Grimsby

124,581

Town centre distance

1.16 miles away

Nearest school

0.10 miles away

Nearest train station

0.87 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

-4%

Sales demand

Balanced market

Capital growth (5yrs)

+23%

Property History

Listed for £57,500

June 26, 2023

Floor Plans

Description

  • Calling All Developers/Investors +
  • 2 Bedroomed End-TerraceHouse +
  • Requiring Works Of Modernisation +
  • Priced To Reflect Condition +
  • Gas Fired Central Heating +
  • uPVC Double Glazing +
  • NO "CHAIN" +

CALLING ALL DEVELOPERS OR INVESTORS - This is a two bedroomed end-terrace house in this established residential location in Grimsby.
The property is being offered for sale with NO "CHAIN" and would now require a scheme of modernisation and refurbishment hence the realistic asking price.
It has accommodation comprising entrance hall, living room, sitting room, two bedrooms and bathroom.
The property does have the benefit of uPVC double glazing and gas fired central heating.
Gardens to front and rear.

Agent Details

Jackson Green and Preston, Grimsby

01472 404357

Next Steps?

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