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2 Bed Flat, Cash/Bridging Only, Grimsby, DN33 1RB, £51,000

211 Pinewood Crescent, Grimsby - 2 years ago

Leasehold
Cash
ROI: 1%
~68 m²
+2 photos

ValuationFair Value

Sold Prices£35K - £102.5K
Sold Prices/m²£556/m² - £1.6K/m²

 

 

Square Metres

~68.11 m²
Price/m²£749/m²

Value Estimate

£52,020

 

 

End Value (After Refurb)

£93,618

Uplift in Value

+84%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£12,750

Stamp Duty & Legal Fees

£3,750

Refurb Costs

£27,571

Bridging Loan Interest

£1,339

Total Cash In

£47,159

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£93,618

Mortgage (After Refinance)

£70,214

Mortgage LTV

75%

Cash Released

£31,964

Cash Left In

£15,196

Equity

£23,405

Rent Range

£495 - £780

Rent Estimate

£450

Running Costs/mo

£403

Cashflow/mo

£47

Cashflow/yr

£569

ROI

1%

Gross Yield

11%

Local Sold Prices

27 sold prices from £35K to £102.5K, average is £73.3K. £556/m² to £1.6K/m², average is £1.3K/m².

PriceDateDistanceAddressBeds 
£43K08/210 mi32, Pinewood Crescent, Grimsby, North East Lincolnshire DN33 1RB2
£43K08/210 mi32, Pinewood Crescent, Grimsby, North East Lincolnshire DN33 1RB2
£50K06/220.09 mi42, Columbus Way, Grimsby, North East Lincolnshire DN33 1RT2
£65K11/200.31 mi21, Pennistone Place, Scartho Top, Grimsby, North East Lincolnshire DN33 3SS2
£65K11/200.31 mi21, Pennistone Place, Scartho Top, Grimsby, North East Lincolnshire DN33 3SS2
£65K11/200.31 mi21, Pennistone Place, Scartho Top, Grimsby, North East Lincolnshire DN33 3SS2
£74K05/210.31 mi15, Pennistone Place, Scartho Top, Grimsby, North East Lincolnshire DN33 3SS2
£65K11/200.31 mi21, Pennistone Place, Scartho Top, Grimsby, North East Lincolnshire DN33 3SS2
£74K05/210.31 mi15, Pennistone Place, Scartho Top, Grimsby, North East Lincolnshire DN33 3SS2
£65K11/200.31 mi21, Pennistone Place, Scartho Top, Grimsby, North East Lincolnshire DN33 3SS2
£73.3K08/210.31 mi21, Pennistone Place, Scartho Top, Grimsby, North East Lincolnshire DN33 3SS2
£61K10/220.56 mi468a, Laceby Road, Grimsby, North East Lincolnshire DN34 5NU2
£73K04/230.64 mi11, Waddington Place, Grimsby, North East Lincolnshire DN34 5HS2
£80K04/220.66 mi20, Coningsby Drive, Grimsby, North East Lincolnshire DN34 5HG2
£70.5K02/230.67 mi22, Coningsby Drive, Grimsby, North East Lincolnshire DN34 5HG2
£35K11/210.67 mi10, Coningsby Drive, Grimsby, North East Lincolnshire DN34 5HG2
£100K03/210.81 mi12, Kings Court, Grimsby, North East Lincolnshire DN34 5TS2
£80K08/230.81 mi9, St Johns Court, Grimsby, North East Lincolnshire DN34 5TE2
£95K11/220.81 mi7, St Johns Court, Grimsby, North East Lincolnshire DN34 5TE2
£80K06/210.81 mi3, St Johns Court, Grimsby, North East Lincolnshire DN34 5TE2
£87K12/210.81 mi5, Kings Court, Grimsby, North East Lincolnshire DN34 5TS2
£67.5K05/210.82 mi20, Queens Court, Grimsby, North East Lincolnshire DN34 5TT2
£102.5K08/220.82 mi9, Queens Court, Grimsby, North East Lincolnshire DN34 5TT2
£90K12/220.82 mi20, Queens Court, Grimsby, North East Lincolnshire DN34 5TT2
£84K05/220.82 mi19, Queens Court, Grimsby, North East Lincolnshire DN34 5TT2
£90K11/210.84 mi14, Clare Court, Grimsby, North East Lincolnshire DN34 5UU2
£100K11/210.94 mi20, Briar Lane, Grimsby, North East Lincolnshire DN33 3LS2

Local Rents

18 rents from £495/mo to £780/mo, average is £625/mo.

RentDateDistanceAddressBeds 
£49501/240.36 mi-2
£50001/250.36 mi-2
£65003/240.5 mi-2
£68503/240.56 miPatchett Close, Scartho Top, Grimsby, Lincolnshire, DN332
£72004/240.58 miWalsh Gardens, Scartho Top, Grimsby, NE Lincolnshire, DN332
£70003/240.66 miFenwick Road, Scartho Top, Grimsby2
£55003/240.69 miSecond Avenue, Grimsby2
£55003/240.69 miSecond Avenue, Grimsby2
£78008/240.73 mi-2
£72503/240.83 miGervase Holles Way, Scartho, Grimsby, DN332
£75005/240.85 miBramley Close, Scartho2
£68003/240.88 miBroadway, Grimsby, Lincolnshire, DN342
£59511/240.9 mi-2
£57504/240.93 miNelson Way, Grimsby2
£60003/250.99 mi-2
£56012/231 mi-2
£75004/241.02 miGirton Road, Grimsby2
£55008/231.12 mi-2

Links

Local Area Statistics

Population in DN33

19,406

Population in Grimsby

124,581

Town centre distance

1.19 miles away

Nearest school

0.10 miles away

Nearest train station

1.72 miles away

 

 

Rental growth (12m)

+38%

Sales demand

Balanced market

Capital growth (5yrs)

+23%

Property History

Price changed to £51,000

February 24, 2025

Listed for £49,950

September 12, 2023

Floor Plans

Description

  • Ground Floor Flat +
  • Two Bedrooms +
  • Spacious Lounge +
  • Modern Kitchen & Bathroom +
  • uPVC Double Glazed +
  • Electric Heating +
  • Currently LET +
  • Town Centre Location +

CASH BUYERS ONLY Lovelle offer to market this ideal investment opportunity, Currently LET on an assured shorthold tenancy producing £450pcm / £5400pa. Spacious and versatile accommodation, well presented throughout and benefitting form uPVC double glazing and electric heating whilst briefly comprising of; entrance hall, two bedrooms, lounge, modern kitchen and bathroom. Located within a well established area of Grimsby Town centre, boasting ease of access to the vast range of local amenities on offer. There is a resident car parking area.  EPC rating: E. Tenure: Leasehold, Service charge description: £175.22
PLUS £32.17 INSURANCE
DUE ANNUALLY , Length of lease (remaining): 89 years 10 months,

Agent Details

Lovelle, Grimsby

01472 404571

Next Steps?

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

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