5 Bed Bungalow, Cash/Bridging Only, Louth, LN11 7QW, £395,000

Churchill Road, North Somercotes, Louth, LN11 7QW - a year ago

Cash
~178 m²
+35 photos

ValuationOvervalued

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

 

 

Square Metres

~178.28 m²
Price/m²£2.2K/m²

Value Estimate

£342,743

 

 

End Value (After Refurb)

£385,496

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£98,750

Stamp Duty & Legal Fees

£20,300

Refurb Costs

£72,275

Bridging Loan Interest

£10,369

Total Cash In

£203,443

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£385,496

Mortgage (After Refinance)

£289,122

Mortgage LTV

75%

Cash Left In

£203,443

Equity

£96,374

Rent Range

£550 - £1,500

Rent Estimate

£893

Running Costs/mo

£1,403

Cashflow/mo

£-510

Cashflow/yr

£-6,123

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 
£269K01/210.06 miCara-mia, Willerton Road, North Somercotes, Louth, Lincolnshire LN11 7NH4
£340K10/230.11 miSycamore House, Churchill Road, North Somercotes, Louth, Lincolnshire LN11 7QS4
£250K05/230.38 miHigh View, Jubilee Road, North Somercotes, Louth, Lincolnshire LN11 7LH4
£305K08/210.39 miFrogs Frolic, South Road, North Somercotes, Louth, Lincolnshire LN11 7PT4
£345K11/200.67 miRosedene, Field Lane, North Somercotes, Louth, Lincolnshire LN11 7QA4
£310K12/200.72 miSmilin, Bank End, North Somercotes, Louth, Lincolnshire LN11 7LN4
£290K08/231.32 miWhimbrel Cottage, Marsh Lane, North Somercotes, Louth, Lincolnshire LN11 7PD4
£365K09/232.31 miThe Rectory, Warren Road, Saltfleet, Louth, Lincolnshire LN11 7RU4
£285K12/202.46 miFairfields, Poors End, Grainthorpe, Louth, Lincolnshire LN11 7JB4
£248.5K04/212.78 miRosdan, Mill Lane, Saltfleet, Louth, Lincolnshire LN11 7SA4

Local Rents

7 rents from £550/mo to £1.5K/mo, average is £595/mo.

RentDateDistanceAddressBeds 
£59512/240.03 mi-2
£59510/240.03 mi-2
£55003/250.1 mi-2
£55003/250.1 mi-2
£75003/240.11 mi-3
£1,50005/242.46 miElland Way, Poors End, Grainthorpe3
£72512/242.47 mi-2

Local Area Statistics

Population in LN11

28,179

Population in Louth

28,197

Town centre distance

8.07 miles away

Nearest school

0.20 miles away

Nearest train station

10.56 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+12%

Sales demand

Buyer's market

Capital growth (5yrs)

+9%

Property History

Listed for £395,000

November 6, 2023

Sold for £179,950

2003

Sold for £21,000

2000

Floor Plans

Description

  • Detached Dormer Bungalow +
  • Five Bedrooms (Two En-Suite) +
  • Living Room +
  • Family Room +
  • Kitchen/Diner +
  • Utility and WC +
  • Bathroom +
  • Driveway +
  • Garage +
  • Garden +

Choice Properties are delighted to present this stunning five bedroom (two en-suite) dormer bungalow, situated in a most sought after location, just moments away from the popular village of North Somercotes. This impressive and most spacious property also benefits from a well maintained, enclosed garden to the rear as well as a workshop and two timber sheds. Early viewing is advised.

Entrance Hall - 4.67m x 1.78m (15'4" x 5'10") - Composite front entrance door. Staircase to first floor landing. Radiator.

Living Room - 4.67m x 3.78m (15'4" x 12'5") - Light and airy living room. TV aerial point. Log burner set in feature surround. Three wall lights. Radiator.

Reception Room - 4.67m x 2.82m (15'4" x 9'3") - TV aerial point. Telephone point. Radiator.

Kitchen - 3.59m x 2.74m (11'9" x 9'0") - Fitted with wall and base units with work surfaces over, one and a half bowl resin sink unit and drainer with mixer tap over, integral 'Bosch' oven and integral four ring induction hob with extractor over. Spotlights and feature ceiling light. Open plan with dining room.

Dining Room - 3.59m x 5.77m (11'9" x 18'11") - Ample space for freestanding dining table and chairs. Double opening 'French' style patio doors to the rear garden. Log burner. TV aerial point. Radiator. Open plan with Kitchen.

Utility - 2.33m x 2.79m (7'8" x 9'2") - Fitted with base units with work surfaces over. Radiator. Door leading to the rear garden.

Pantry - 1.16m x 2.79m (3'10" x 9'2") - Space for freestanding fridge/freezer. Work surfaces.

Wc - 0.94m x 1.15m (3'1" x 3'9") - Fitted with wc and hand wash basin. Radiator.

Landing - Loft access. Radiator. Doors to:

Bedroom 1 - 3.41m x 3.96m (11'2" x 13'0") - Spacious double bedroom benefitting from a large walk-in-wardrobe. TV aerial point. Radiator. Door to en-suite.

En-Suite - 2.29m x 1.11m (7'6" x 3'8") - Fitted with three piece suite comprising dual flush wc, hand wash basin and shower enclosure with electric shower over. Wall mounted towel rail.

Walk-In Wardrobe - 2.64m x 1.83m (8'8" x 6'0") -

Bedroom 2 - 3.41m x 3.92m (11'2" x 12'10") - Spacious double bedroom. TV aerial point. Radiator.

Bedroom 3 - 2.64m x 3.89m (8'8" x 12'9") - Spacious double bedroom. TV aerial point. Radiator.

Bedroom 4 - 2.64m x 3.76m (8'8" x 12'4") - Double bedroom. Radiator.

Bedroom 5 - 2.00m x 2.79m (6'7" x 9'2") - TV aerial point. Radiator. Door to en-suite.

En-Suite - 0.79m x 2.79m (2'7" x 9'2") - Fitted with three piece suite comprising dual flush wc, hand wash basin and shower enclosure with mains fed shower over.

Bathroom - 2.90m x 2.19m (9'6" x 7'2") - Fitted with four piece bathroom suite consisting of dual flush wc, hand wash basin set in vanity unit, panelled bath tub with taps over and large shower enclosure with mains fed shower over. Radiator.

Garage - With up and over door.

Driveway - Gravelled driveway providing off street parking for multiple vehicles.

Garden - To the rear of the property you will find a well maintained, privately enclosed garden with timber fencing to the boundaries. The garden is laid mostly to lawn but also features an attractive paved patio area. The garden also houses the oil tank.

Tenure - Freehold.

Council Tax Band - Local Authority - East Lindsey District Council,
The Hub,
Mareham Road,
Horncastle,
Lincolnshire,
LN9 6PH
Tel. No.
Website:

Council Tax Band - According to the Valuation Office Agency Website the property is currently in Council Tax Band D.

Viewing Arrangements - By appointment through Choice Properties on .

Opening Hours - Monday to Friday 9.00 a.m to 5.00 p.m.
Saturday 9.00 a.m. to 3.00 p.m.

Making An Offer - If you are interested in making an offer on this property please have a chat with us and we will be happy to start the negotiations for you. Under money laundering regulation we will ask you to provide us with formal photographic ID by way of either a passport or driving licence. If you are travelling from afar we would advise bringing this documentation with you just in case this home is perfect for you.
We would also like to make you aware that we will require details of your estate agents, proof of funds should you be a cash buyer and solicitors details, as this helps us to start the transaction quickly for you.

Agent Details

Choice Properties, Louth

01507 308529

Next Steps?

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