3 Bed Semi-Detached House, Cash/Bridging Only, Louth, LN11 7QG, £199,950

31 Woolpack Meadows, North Somercotes, LN11 7QG - a year ago

Cash
~94 m²
+18 photos

ValuationFair Value

Sold Prices£128K - £450K
Sold Prices/m²£1.8K/m² - £3.9K/m²

 

 

Square Metres

~93.70 m²
Price/m²£2.1K/m²

Value Estimate

£203,949

 

 

End Value (After Refurb)

£202,605

Uplift in Value

+1%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£49,988

Stamp Duty & Legal Fees

£7,199

Refurb Costs

£37,985

Bridging Loan Interest

£5,249

Total Cash In

£102,170

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£202,605

Mortgage (After Refinance)

£151,954

Mortgage LTV

75%

Cash Released

£1,991

Cash Left In

£100,179

Equity

£50,651

Rent Range

£550 - £750

Rent Estimate

£651

Running Costs/mo

£783

Cashflow/mo

£-132

Cashflow/yr

£-1,588

Gross Yield

4%

Local Sold Prices

23 sold prices from £128K to £450K, average is £275K. £1.8K/m² to £3.9K/m², average is £2.7K/m².

PriceDateDistanceAddressBeds 
£260K09/210 mi37, Woolpack Meadows, North Somercotes, Louth, Lincolnshire LN11 7QG3
£210K06/230 mi32, Woolpack Meadows, North Somercotes, Louth, Lincolnshire LN11 7QG3
£182K02/210.09 miThe Old Mill, Willerton Road, North Somercotes, Louth, Lincolnshire LN11 7NH3
£365K12/220.3 miSomers, Somerfield Drive, North Somercotes, Louth, Lincolnshire LN11 7GA3
£195K12/220.32 mi19, Evison Way, North Somercotes, Louth, Lincolnshire LN11 7PE3
£195K11/220.37 miAloha, Keeling Street, North Somercotes, Louth, Lincolnshire LN11 7PR3
£450K03/230.41 miShelton House, Wembley Road, North Somercotes, Louth, Lincolnshire LN11 7NP3
£278K03/230.48 miMayfair, Jubilee Road, North Somercotes, Louth, Lincolnshire LN11 7LH3
£210K07/230.48 mi2, Jubilee Road, North Somercotes, Louth, Lincolnshire LN11 7LH3
£230K04/230.48 mi8, Jubilee Road, North Somercotes, Louth, Lincolnshire LN11 7LH3
£350K07/230.82 miThe Gables, Bank End, North Somercotes, Louth, Lincolnshire LN11 7LN3
£270K01/210.82 miBracken Wood, Bank End, North Somercotes, Louth, Lincolnshire LN11 7LN3
£420K02/241.39 miWillow Holt, Marsh Lane, North Somercotes, Louth, Lincolnshire LN11 7PD3
£281K01/242.09 miPeartree Cottage, Louth Road, South Somercotes, Louth, Lincolnshire LN11 7BW3
£306.5K12/222.09 miSpring Cottage, Louth Road, South Somercotes, Louth, Lincolnshire LN11 7BW3
£220K02/232.22 miRedcote, Warren Road, Saltfleet, Louth, Lincolnshire LN11 7RU3
£350K07/232.45 miMorning Light, Main Road, Saltfleet, Louth, Lincolnshire LN11 7RN3
£292.5K04/212.51 miSea View House, The Hill, Saltfleet, Louth, Lincolnshire LN11 7RJ3
£275K02/232.59 mi1, Whyalla Close, Grainthorpe, Louth, Lincolnshire LN11 7JQ3
£128K02/212.61 mi16, Chapel Lane, Grainthorpe, Louth, Lincolnshire LN11 7HZ3
£255K02/232.63 mi5, Stapes Garth, Grainthorpe, Louth, Lincolnshire LN11 7FD3
£400K11/232.72 miConifer Drive, Main Road, Saltfleet, Louth, Lincolnshire LN11 7SB3
£330K10/212.87 miCharis, Wragholme Road, Grainthorpe, Louth, Lincolnshire LN11 7JD3

Local Rents

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

RentDateDistanceAddressBeds 
£75003/240.02 mi-3
£59512/240.07 mi-2
£59510/240.07 mi-2
£55003/250.11 mi-2
£55003/250.11 mi-2
£65006/242.41 mi-2
£69501/252.41 mi-2
£72501/252.41 mi-2

Local Area Statistics

Population in LN11

28,179

Population in Louth

28,197

Town centre distance

8.10 miles away

Nearest school

0.30 miles away

Nearest train station

10.66 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+12%

Sales demand

Buyer's market

Capital growth (5yrs)

+9%

Property History

Listed for £199,950

March 4, 2024

Floor Plans

Description

  • Semi-detached house +
  • Three bedrooms +
  • Bright reception room +
  • Spacious kitchen/dining room +
  • Stylish shower room +
  • Driveway with Garage +
  • Garden overlooking open views +
  • Sought after location +
  • Close to local amenities +
  • Viewing highly advised +

Choice Properties are delighted to offer for this spacious and well presented three bedroom semi-detached house, located in the most sought after village of North Somercotes, just a short walk from the village centre and local amenities. The property further benefits from attractive enclosed rear garden overlooking beautiful open views with private driveway and garage. Early viewing is highly recommended to appreciate this lovely family home.

Hallway - 3.30m x 2.32m (10'10" x 7'7") - Spacious entrance hall, staircase to the first floor, built in storage cupboard, tiled flooring.

Reception Room - 4.37m x 3.60m (14'4" x 11'10") - Light and airy reception room with featured box window to the front aspect, TV Aerial point, telephone point.

Kitchen/Dining Room - 3.41m x 6.02m (11'2" x 19'9") - Fitted with a range of wall and base units with worktops over, one bowl stainless steel sink unit with drainer and stainless steel mixer taps, integrated cooker with stainless steel extractor hood over, integrated fridge/freezer, plumbing fir a washing machine and dishwasher, central heating boiler, partly tiled walls, ample space for a dining table, French double opening doors to the rear aspect leading onto the rear garden and overlooking beautiful open views.

Landing - 4.32m x 2.13m (14'2" x 7'0") - Built in storage cupboard, doors to bedrooms and shower room.

Bedroom 1 - 3.93m x 3.79m (12'11" x 12'5") - Remarkably spacious double bedroom with window to the rear overlooking beautiful open views.

Bedroom 2 - 3.61m x 3.05m (11'10" x 10'0") - Spacious double bedroom with window to the front aspect.

Bedroom 3 - 1.30m x 2.87m (4'3" x 9'5") - Ideal single bedroom/office space with window to the front aspect.

Shower Room - 1.82m x 2.87m (6'0" x 9'5") - Fitted with a modern three piece suite comprising large walk in shower with main Waterfall shower over, wash hand basin set into vanity unit with stainless steel mixer taps, dual flush w.c., featured mermaid board to the splash backs.

Wc - 0.97m x 2.32m (3'2" x 7'7") - Fitted with a modern two piece suite comprising corner wash hand basin with mixer taps and w.c.

Driveway - Paved driveway providing off road parking.

Garage - 5.66m x 2.84m (18'07 x 9'04) - With up and over door, power and lighting, pedestrian door to the side aspect.

Garden - To the rear of the property you will find an attractive and privately enclosed garden with timber fencing to the rear, overlooking beautiful open views to the rear. The garden paved and gravelled for ease of maintenance. A timber gate to the side of the property provides access to the front.

Tenure - Freehold

Viewing Arrangements - By appointment through Choice Properties on .

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.

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

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 B.

Agent Details

Choice Properties, Louth

01507 308529

Next Steps?

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