2 Bed Flat, Single Let, Grimsby, DN36 5BW, £60,000

62 St Peters Avenue, Cleethorpes, DN35 8HP - a year ago

Sold STC

Leasehold

BTL

ROI: 17%

~55 m²

+2 photos

ValuationUndervalued

Sold Prices	£69K - £243K
Sold Prices/m²	£1.1K/m² - £3.2K/m²

Square Metres	~55.40 m²
Price/m²	£1.1K/m²
Value Estimate	£72,000£72,000
BMV	20%

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£15,000£15,000
Stamp Duty & Legal Fees	£4,200£4,200
Total Cash In	£19,200£19,200

Cash Out
Rent Range	£550 - £2,500£550 - £2,500
Rent Estimate	£598
Running Costs/mo	£327£327
Cashflow/mo	£271£271
Cashflow/yr	£3,251£3,251
ROI	17%17%
Gross Yield	12%12%

Local Sold Prices

11 sold prices from £69K to £243K, average is £83K. £1.1K/m² to £3.2K/m², average is £1.5K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£74.5K	11/20	0.01 mi	35, South View, Holton Le Clay, Grimsby, Lincolnshire DN36 5BW	£1,263	59	2	Flat
£70K	11/20	0.02 mi	42, South View, Holton Le Clay, Grimsby, Lincolnshire DN36 5BW	£1,207	58	2	Flat
£77.5K	09/21	0.02 mi	32, South View, Holton Le Clay, Grimsby, Lincolnshire DN36 5BW	£1,292	60	2	Flat
£83K	11/21	0.38 mi	58, Beverley Close, Holton Le Clay, Grimsby, Lincolnshire DN36 5HG	-	-	2	Flat
£69K	01/21	0.38 mi	36, Beverley Close, Holton Le Clay, Grimsby, Lincolnshire DN36 5HG	£1,113	62	2	Flat
£75K	03/23	0.38 mi	33, Beverley Close, Holton Le Clay, Grimsby, Lincolnshire DN36 5HG	£1,415	53	2	Flat
£243K	05/21	0.42 mi	13, Church Lane, Holton Le Clay, Grimsby, Lincolnshire DN36 5AQ	£3,197	76	2	Flat
£123.5K	02/22	1.74 mi	96, Peterson Drive, New Waltham, Grimsby, North East Lincolnshire DN36 4LF	£1,669	74	2	Flat
£113.5K	02/21	1.77 mi	90, Peterson Drive, New Waltham, Grimsby, North East Lincolnshire DN36 4LF	£1,773	64	2	Flat
£150K	06/21	1.78 mi	4, Mellor Way, New Waltham, Grimsby, North East Lincolnshire DN36 4GW	£1,838	82	2	Flat
£220K	02/21	2.77 mi	2, Fairfield Court, Cleethorpes, North East Lincolnshire DN35 0QW	£2,933	75	2	Flat

Local Rents

50 rents from £550/mo to £2.5K/mo, average is £895/mo.

Rent	Date	Distance	Address	Beds	Type
£850	03/24	0.1 mi	Newstead Avenue, Holton Le Clay, Grimsby	3	Semi-Detached House
£850	04/24	0.1 mi	Newstead Avenue, Holton Le Clay, Grimsby	3	Semi-Detached House
£875	04/24	0.35 mi	Campions Close, Holton-le-Clay, Grimsby, Lincolnshire, DN36	2	Bungalow
£595	04/24	0.38 mi	Beverley Close, Holton-Le-Clay, Grimsby, DN36	2	Flat
£555	05/24	0.38 mi	-	2	Flat
£550	11/23	0.38 mi	-	2	Flat
£925	05/24	0.43 mi	Church Close, Holton Le Clay, DN36	3	Terraced House
£1,600	04/24	0.45 mi	Louth Road, Holton-le-Clay, Grimsby, Lincolnshire, DN36	5	Detached House
£725	10/23	0.51 mi	-	3	Semi-Detached House
£750	03/24	1.05 mi	Holton Road, Tetney, DN36 5LN	2	Detached House
£925	03/24	1.17 mi	Hedges Drive, Humberston, Grimsby, DN36	3	Semi-Detached House
£2,400	03/24	1.31 mi	The Maples, Humberston, DN36	4	Detached House
£1,200	04/24	1.37 mi	Humberston Road, Tetney, Grimsby	1	Bungalow
£925	03/24	1.38 mi	Green Lane, Humberston, GRIMSBY	3	House
£1,200	04/24	1.41 mi	Town Road, Tetney	4	Semi-Detached House
£885	04/24	1.47 mi	Station Avenue, New Waltham, Lincolnshire, DN36	3	Bungalow
£825	02/24	1.47 mi	-	3	Semi-Detached House
£895	03/25	1.47 mi	-	3	Semi-Detached House
£1,200	03/24	1.5 mi	Parklands Avenue, Humberston	4	Detached House
£895	03/24	1.52 mi	Parklands Avenue, Humberston, Grimsby, Lincolnshire, DN36	3	Semi-Detached House
£2,500	03/24	1.59 mi	Thoresby Road, Tetney, DN36	5	Detached House
£1,083	01/25	1.6 mi	-	5	Semi-Detached House
£675	09/24	1.61 mi	-	2	Terraced House
£2,300	04/24	1.62 mi	The Barn, Thoresby Road, Tetney	6	Detached House
£995	04/24	1.63 mi	Wellington Avenue, New Waltham	3	Semi-Detached House
£1,000	08/24	1.67 mi	-	3	Semi-Detached House
£995	03/24	1.69 mi	Aldwych Croft, New Waltham	4	Detached House
£1,200	03/24	1.72 mi	Bygott Walk, New Waltham, Grimsby, DN36	4	Semi-Detached House
£895	04/24	1.76 mi	-	3	Semi-Detached House
£895	03/24	1.76 mi	Harvey Walk, New Waltham, DN36	3	Semi-Detached House
£995	03/24	1.77 mi	Peterson Drive, New Waltham	4	Flat
£875	08/24	1.78 mi	-	3	Terraced House
£895	05/24	1.78 mi	Peterson Drive, Grimsby, DN36	3	Terraced House
£1,400	04/24	1.81 mi	Garrick Lane, New Waltham, DN36	5	Detached House
£925	03/24	1.81 mi	Alder Avenue, Humberston, Grimsby, Lincolnshire, DN36	3	Semi-Detached House
£925	03/24	1.83 mi	Becklands Avenue, New Waltham, Grimsby	3	Flat
£800	08/23	1.85 mi	-	1	Flat
£670	03/24	1.88 mi	Colonsay Court, New Waltham, N E Lincolnshire, DN36	2	Terraced House
£670	03/24	1.91 mi	St Clements Way, New Waltham, Grimsby, DN36	2	Flat
£650	04/24	1.91 mi	St Clements Way, New Waltham, Grimsby, North East Lincolnshire, DN36	2	Terraced House
£750	03/24	1.93 mi	Amethyst Court, New Waltham, Grimsby, Lincolnshire, DN36	2	Flat
£1,250	03/24	1.95 mi	Kemeshame Court, Waltham, Grimsby, DN37	3	Detached House
£700	07/23	2.11 mi	-	2	Terraced House
£715	09/24	2.11 mi	-	2	Terraced House
£600	03/24	2.11 mi	Grimsby Road, Waltham, Grimsby, Lincolnshire, DN37	1	Terraced House
£895	09/23	2.22 mi	-	3	Terraced House
£925	04/24	2.24 mi	Fern Close, Humberston, Grimsby, DN36	3	Semi-Detached House
£905	03/24	2.24 mi	Fern Close, Humberston, Grimsby, Lincolnshire, DN36	3	Semi-Detached House
£750	04/25	2.26 mi	-	2	Terraced House
£875	03/24	2.26 mi	Coniston Crescent, Humberston, Grimsby, DN36	2	Flat

Local Area Statistics

Population in DN36	19,16419,164
Population in Grimsby	124,581124,581
Town centre distance	4.20 miles away4.20 miles away
Nearest school	0.10 miles away0.10 miles away
Nearest train station	4.28 miles away4.28 miles away

Rental growth (12m)	-31%-31%
Sales demand	Buyer's marketBuyer's market
Capital growth (5yrs)	+14%+14%

Property History

Price changed to £60,000

December 4, 2024

Listed for £65,000

December 22, 2023

Floor Plans

Description

Two bedroom ground floor flat +
Gas central heating and uPVC double glazing +
Allocated parking and communal garden area +
Hallway, lounge, kitchen, two bedrooms and a bathroom +
Ideal purchase for a variety of buyers +
Popular village location between the towns of Grimsby and Louth +
Viewing is highly advised +
Energy performance rating C and Council tax band A +

Offered for sale with no forward chain on the vendors side, this two bedroom ground floor flat offers an ideal purchase for a variety of buyers. Enjoying the benefits of gas central heating and uPVC double glazing, the property would benefit from some redecoration but offers great potential. The property comes with an allocated parking space and a communal garden area. The flat briefly comprises entrance hallway with useful storage space, well proportioned lounge, kitchen, bathroom and two bedrooms. Viewing is highly advised. PLEASE NOTE WE DO NOT HAVE DETAILS ON GROUND RENT OR MAINTENANCE FEES ANY POTENTIAL BUYERS WILL NEED TO SEEK THEIR OWN ADVICE ON THESE

Agent Details

Crofts Estate Agents, Cleethorpes

01472 404562

Next Steps?

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

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