4 Bed Detached House, Refurb/BRRR, Louth, LN11 7PZ, £300,000

Hobbiton Church End North Somercotes Louth LN11 7PZ - 2 views - a year ago

Refurb/BRRR
~163 m²
+10 photos

ValuationFair Value

Sold Prices£248.5K - £365K
Sold Prices/m²£1.6K/m² - £3.2K/m²

 

 

Square Metres

~163.30 m²
Price/m²£1.8K/m²

Value Estimate

£306,000

 

 

End Value (After Refurb)

£390,988

Uplift in Value

+30%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£75,000

Stamp Duty & Legal Fees

£12,700

Refurb Costs

£66,201

Bridging Loan Interest

£7,875

Total Cash In

£163,526

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£390,988

Mortgage (After Refinance)

£293,241

Mortgage LTV

75%

Cash Released

£68,241

Cash Left In

£95,285

Equity

£97,747

Rent Range

£550 - £750

Rent Estimate

£698

Running Costs/mo

£1,381

Cashflow/mo

£-683

Cashflow/yr

£-8,201

Gross Yield

3%

Local Sold Prices

10 sold prices from £248.5K to £365K, average is £297.5K. £1.6K/m² to £3.2K/m², average is £1.9K/m².

PriceDateDistanceAddressBeds 
£345K11/200.21 miRosedene, Field Lane, North Somercotes, Louth, Lincolnshire LN11 7QA4
£305K08/210.59 miFrogs Frolic, South Road, North Somercotes, Louth, Lincolnshire LN11 7PT4
£269K01/210.64 miCara-mia, Willerton Road, North Somercotes, Louth, Lincolnshire LN11 7NH4
£340K10/230.73 miSycamore House, Churchill Road, North Somercotes, Louth, Lincolnshire LN11 7QS4
£250K05/230.9 miHigh View, Jubilee Road, North Somercotes, Louth, Lincolnshire LN11 7LH4
£310K12/201.27 miSmilin, Bank End, North Somercotes, Louth, Lincolnshire LN11 7LN4
£365K09/231.82 miThe Rectory, Warren Road, Saltfleet, Louth, Lincolnshire LN11 7RU4
£290K08/231.94 miWhimbrel Cottage, Marsh Lane, North Somercotes, Louth, Lincolnshire LN11 7PD4
£248.5K04/212.28 miRosdan, Mill Lane, Saltfleet, Louth, Lincolnshire LN11 7SA4
£285K12/202.8 miFairfields, Poors End, Grainthorpe, Louth, Lincolnshire LN11 7JB4

Local Rents

8 rents from £550/mo to £750/mo, average is £623/mo.

RentDateDistanceAddressBeds 
£55003/250.52 mi-2
£55003/250.52 mi-2
£75003/240.55 mi-3
£59512/240.6 mi-2
£59510/240.6 mi-2
£65006/242.04 mi-2
£69501/252.04 mi-2
£72501/252.04 mi-2

Local Area Statistics

Population in LN11

28,179

Population in Louth

28,197

Town centre distance

7.81 miles away

Nearest school

0.30 miles away

Nearest train station

11.12 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+12%

Sales demand

Buyer's market

Capital growth (5yrs)

+9%

Property History

Listed for £300,000

October 20, 2023

Floor Plans

Description

A detached dormer bungalow situated on a spacious plot on the outskirts of the village and requiring a scheme of modernisation. The property is subject to an AGRICULTURAL  OCCUPANCY  CONDITION. Agricultural occupancy condition-An agricultural occupancy condition or agricultural tie is a planning condition that has been placed upon the property by the local authority permitting the development of the land and construction of a dwelling in a location where development would not normally be permitted. The restriction seeks to limit the occupant/s of the dwelling to be employed wholly, mainly or employed within a certain occupation, such as farming, forestry, horticulture, etc.  Epc rating F.  what3words: desire.headers.something

Agent Details

John Taylors, Louth

01507 307697

Next Steps?

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