3 Bed Bungalow, Refurb/BRRR, Louth, LN11 8SZ, £195,000

64 Tinkle Street, Grimoldby, LN11 8SZ - a year ago

Refurb/BRRR
~120 m²
+10 photos

ValuationUndervalued

Sold Prices£120K - £375K
Sold Prices/m²£1.2K/m² - £3.6K/m²

 

 

Square Metres

~120 m²
Price/m²£1.6K/m²

Value Estimate

£200,850
BMV3%

 

 

End Value (After Refurb)

£230,391

Uplift in Value

+18%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£48,750

Stamp Duty & Legal Fees

£10,950

Refurb Costs

£48,647

Bridging Loan Interest

£5,119

Total Cash In

£115,216

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£230,391

Mortgage (After Refinance)

£172,793

Mortgage LTV

75%

Cash Released

£26,543

Cash Left In

£88,673

Equity

£57,598

Rent Range

£650 - £1,000

Rent Estimate

£810

Running Costs/mo

£902

Cashflow/mo

£-92

Cashflow/yr

£-1,104

Gross Yield

5%

Local Sold Prices

26 sold prices from £120K to £375K, average is £186.3K. £1.2K/m² to £3.6K/m², average is £1.8K/m².

PriceDateDistanceAddressBeds 
£175K10/200.07 mi91, Tinkle Street, Grimoldby, Louth, Lincolnshire LN11 8SZ3
£177.5K10/230.1 mi119, Tinkle Street, Grimoldby, Louth, Lincolnshire LN11 8TL3
£170K03/210.27 mi12, Tinkle Street, Grimoldby, Louth, Lincolnshire LN11 8SW3
£243K12/220.28 mi11a, Tinkle Street, Grimoldby, Louth, Lincolnshire LN11 8SW3
£182.5K09/230.34 miBeggars Roost, Priory Lane, Grimoldby, Louth, Lincolnshire LN11 8SP3
£190K01/210.37 miSt Annes, Hawthorne Close, Grimoldby, Louth, Lincolnshire LN11 8SR3
£160K02/210.42 mi6, St Edith Gate, Grimoldby, Louth, Lincolnshire LN11 8SS3
£190K12/220.54 mi11, Pleasance Way, Manby, Louth, Lincolnshire LN11 8HJ3
£168K09/210.58 mi13, Gauntlet Road, Grimoldby, Louth, Lincolnshire LN11 8UH3
£158K04/230.58 mi5, Gauntlet Road, Grimoldby, Louth, Lincolnshire LN11 8UH3
£130K02/210.59 mi11, Spitfire Avenue, Grimoldby, Louth, Lincolnshire LN11 8UJ3
£190K07/210.61 mi5, Penrose Place, Manby, Louth, Lincolnshire LN11 8DZ3
£120K10/200.61 mi27, Fury Avenue, Grimoldby, Louth, Lincolnshire LN11 8UN3
£152.5K09/210.61 mi26, Fury Avenue, Grimoldby, Louth, Lincolnshire LN11 8UN3
£225K07/230.61 mi28, Fury Avenue, Grimoldby, Louth, Lincolnshire LN11 8UN3
£213K08/230.64 mi9, Penrose Place, Manby, Louth, Lincolnshire LN11 8DZ3
£230K01/240.64 mi5, Penrose Place, Manby, Louth, Lincolnshire LN11 8DZ3
£180K11/220.67 mi1, Bulldog Crescent, Grimoldby, Louth, Lincolnshire LN11 8UW3
£163K11/210.67 mi8, Gladiator Road, Grimoldby, Louth, Lincolnshire LN11 8UL3
£275K07/230.7 miTzigane, Grange Lane, Manby, Louth, Lincolnshire LN11 8HF3
£223K01/230.73 mi11, Chapel Lane, Manby, Louth, Lincolnshire LN11 8HQ3
£240K12/210.79 miLeas, South View Lane, South Cockerington, Louth, Lincolnshire LN11 7ED3
£375K09/230.79 miTime Craft, South View Lane, South Cockerington, Louth, Lincolnshire LN11 7ED3
£220K05/230.81 miAshgrove, Canberra Crescent, Manby, Louth, Lincolnshire LN11 8TU3
£297K04/210.82 miMill Haven, Mill Hill Way, South Cockerington, Louth, Lincolnshire LN11 7EG3
£165K12/200.86 mi1, Vampire Road, Manby, Louth, Lincolnshire LN11 8TX3

Local Rents

5 rents from £650/mo to £1K/mo, average is £800/mo.

RentDateDistanceAddressBeds 
£1,00006/240.48 miSpinney Close, Grimoldby, LN11 8SY3
£80012/240.59 mi-3
£75002/230.76 mi-3
£65005/241.58 miLittle Carlton, Louth1
£85005/242.47 miLouth Park Farms, Keddington, Louth. LN11 7HL3

Local Area Statistics

Population in LN11

28,179

Population in Louth

28,197

Town centre distance

3.93 miles away

Nearest school

0.40 miles away

Nearest train station

13.98 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+12%

Sales demand

Buyer's market

Capital growth (5yrs)

+9%

Property History

Price changed to £195,000

January 31, 2025

Price changed to £205,000

December 4, 2024

Listed for £215,000

February 15, 2024

Floor Plans

Description

  • 3 bedroom bungalow +
  • No onward chain +
  • Good size plot with mature gardens +
  • Large Lounge, Kitchen diner and study +
  • Wide garage and Workshop to rear +
  • Walking distance to shop and post office +
  • In need of a scheme of modernisation +
  • Semi rural outlook to rear +
  • Virtual tour available +
  • Large driveway +

A smart spacious bungalow well positioned in the popular village of Grimoldby, just a short walk to shops and amenities. The property sits on a generous plot with mature gardens to front and rear providing ample off street parking. Internally the well planned accommodation provides 3 double bedrooms, bathroom, kitchen diner, lounge, conservatory and study. At the rear is a wide garage with attached workshop beyond with the garden enjoying a semi-rural outlook to the rear. 

Directions Proceed away from Louth on the Legbourne Road and at the roundabout, take the first exit along the B1200. Follow the road for several miles into Manby Middlegate and at the traffic lights, turn left into Grimoldby along Tinkle Street. Follow the road for some distance and the property will be found on the right hand side. 

The Property A spacious detached three bedroom bungalow on a generous plot. The property is believed to have part rendered brick with timber frame and part block and brick cavity construction, we recommend anyone using a mortgage checks with their provider that they are happy to lend on this basis. The bungalow has a pitched timber roof construction covered in concrete interlocking tiles with the property believed to have a later extension to the far end. The bungalow has fully uPVC double-glazed windows and doors with matching uPVC fascias, soffits, guttering and is heated by way of a Baxi 800 gas-fired combination boiler located in the loft and at the rear of the plot the property has a superb one and a half width garage with attached workshop at the rear.

(Approximate room dimensions are shown on the floor plans which are indicative of the room layout and not to specific scale) 

Lounge Having part-glazed uPVC front entrance door with frosted glazing. A spacious reception room having feature fireplace with electric and gas log-effect fire with timber surround and tiled hearth. Windows to two aspects, neutral decoration, coving and ceiling roses with carpeted floor. To one corner is a cupboard housing the electric meter and consumer unit. 

Dining Kitchen A spacious room with windows to two aspects and having a good range of base and wall units finished with oak-effect doors, chrome handles and roll-top, marble-effect laminated work surfaces. One and a half bowl stainless steel sink with chrome mono mixer tap and further filter tap and attractive tiling to splashbacks. New World single gas oven with four ring Hotpoint gas hob above and extractor fan. Space and plumbing for washing machine to side, vinyl floor covering and door into: 

Conservatory Positioned at the rear and enjoying delightful views over the garden and across paddocks beyond, with brick dwarf wall and fully glazed windows to perimeter with double patio doors and recently glazed roof with self-cleaning glass. Carpet tiles to floor with light and electric provided.  

Study Positioned off the hall and having ample space for a desk or could potentially be a nursery if required. Spotlights to ceiling, coat hooks to side, window to rear, carpeted floor and airing cupboard to side fitted with radiator and shelving provided for laundry.  

Hall Having six-panel doors to principal rooms. Alarm control panel to wall, together with Hive remote central heating thermostat, smoke alarm and CO alarm to ceiling with carpeted floor and loft hatch to roof space, having fitted fold down ladder, light and part boarded, also housing the Baxi 800 gas combination boiler.  

Bedroom 1 A good size double bedroom with neutral decoration, coving to ceiling, window overlooking the front.  

Bedroom 2 A further double bedroom with window overlooking the front, coving to ceiling and carpeted floors.  

Bedroom 3 Final double bedroom or generous single with coving to ceiling, window overlooking rear garden and carpeted floor.  

Family Bathroom With large corner bath having taps with hand shower attachment, wash hand basin and low-level WC. Attractive part tiling to walls and mirrored cupboard above basin. Frosted glass window to rear and corner shower cubicle with curved sliding glass doors and Triton electric shower unit. Coving to ceiling and carpeted floor.  

Outside  

Front Garden Having extensive block-paved driveway providing parking for multiple vehicles with turning area, grassed lawn to side with mature shrubs and bushes and mixture of fenced and hedged boundaries. Water collection butt to side, concrete path to front door, driveway extending down the side of the property with double wrought iron gates and pedestrian side gate into the: 

Rear Garden Further off-street parking and concrete driveway leading to the garage. Block-paved patio adjacent the conservatory, leading into the predominantly lawned garden which is extensive in size with superb views across paddocks. Mature shrubs, bushes and trees, concrete path down the side of the garage leading to a timber shed and composting area. Planted border to corner and fenced boundaries. Further water collection butts, outside tap and light. Overall, a delightful private garden to relax in.  

Garage Having up and over door to front, uPVC window to side and pedestrian side door, light and electric provided, concrete floor and being extra wide compared to a standard single. Door through to: 

Workshop With timber access door from garage, uPVC window to side, built-in work benches and cupboards, light and electrics, concrete floor. Would make an ideal workshop, craft room or games room, etc.  

Location Grimoldby is a popular country village approximately five miles from the market town of Louth and in conjunction with the neighbouring village of Manby, there are local facilities including a primary school, post office/store, a pub, doctors' surgery, mini supermarket, restaurant and two churches. Louth has a wider range of amenities, including many individual shops, cafes, restaurants and bars, cinema and theatre together with secondary schools and academies including the King Edward VI grammar school. The town also has some excellent sports facilities to include a golf club, tennis academy, the Meridian Sports Centre with swimming pool and the playing fields on London Road. The local bus service stops near the house.

On the outskirts of Louth is the Kenwick Park leisure complex with equestrian centre and Grimoldby is about five miles from the popular Lincolnshire coast with nature reserves and miles of sandy beaches. 

Viewing Strictly by prior appointment through the selling agent.  

General Information The particulars of this property are intended to give a fair and substantially correct overall description for the guidance of intending purchasers. No responsibility is to be assumed for individual items. No appliances have been tested. Fixtures, fittings, carpets and curtains are excluded unless otherwise stated. Plans/Maps are not to specific scale, are based on information supplied and subject to verification by a solicitor at sale stage. We are advised that the property is connected to mains gas, electricity, water and drainage but no utility searches have been carried out to confirm at this stage. The property is in Council Tax band B.

Agent Details

Masons Sales, Louth

01507 308524

Next Steps?

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