5 Bed Detached House, Cash/Bridging Only, Louth, LN11 8HH, £550,000

SPRINGFIELD Carlton Road, Louth, Lincolnshire, LN11 8HH - a year ago

Cash
182 m²
+28 photos

ValuationOvervalued

Sold Prices£245K - £585K
Sold Prices/m²£1.2K/m² - £2.1K/m²

 

 

Square Metres

182 m²
Price/m²£3K/m²

Value Estimate

£304,441

 

 

End Value (After Refurb)

£334,046

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£137,500

Stamp Duty & Legal Fees

£32,700

Refurb Costs

£73,782

Bridging Loan Interest

£14,438

Total Cash In

£260,169

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£334,046

Mortgage (After Refinance)

£250,534

Mortgage LTV

75%

Cash Left In

£260,169

Equity

£83,511

Rent Range

£650 - £1,500

Rent Estimate

£1,033

Running Costs/mo

£1,270

Cashflow/mo

£-237

Cashflow/yr

£-2,850

Gross Yield

2%

Local Sold Prices

5 sold prices from £245K to £585K, average is £280K. £1.2K/m² to £2.1K/m², average is £1.7K/m².

PriceDateDistanceAddressBeds 
£275K01/210.12 mi4, Meteor Road, Manby, Louth, Lincolnshire LN11 8UB5
£585K02/230.13 miBeeches, Carlton Road, Manby, Louth, Lincolnshire LN11 8UF5
£245K04/230.13 miOak Lodge, Carlton Road, Manby, Louth, Lincolnshire LN11 8UF5
£280K11/201.05 miHall Farm Cottage, Glebe Road, Great Carlton, Louth, Lincolnshire LN11 8JX5
£570K08/232.57 mi14, Manor Park, Legbourne, Louth, Lincolnshire LN11 8NH5

Local Rents

7 rents from £650/mo to £1.5K/mo, average is £1K/mo.

RentDateDistanceAddressBeds 
£75002/230.25 mi-3
£1,00006/240.59 miSpinney Close, Grimoldby, LN11 8SY3
£65005/240.6 miLittle Carlton, Louth1
£80012/240.77 mi-3
£1,50006/242.3 mi-3
£1,20004/252.3 mi-3
£1,50005/242.3 miMain Street, Gayton Le Marsh, Alford, LN133

Local Area Statistics

Population in LN11

28,179

Population in Louth

28,197

Town centre distance

4.39 miles away

Nearest school

0.60 miles away

Nearest train station

14.99 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+12%

Sales demand

Buyer's market

Capital growth (5yrs)

+9%

Property History

Listed for £550,000

March 11, 2024

Sold for £265,000

2006

Sold for £189,950

2004

Sold for £67,500

1996

Floor Plans

Description

  • Spacious detached house +
  • Five bedrooms (One en-suite) +
  • Lounge +
  • Dining Room +
  • Sun Room +
  • Kitchen +
  • Utility Room +
  • Bathroom +
  • Double garage with studio +
  • Spacious gardens +

Occupying an ideal position in the village of Manby and sitting on a spacious plot, Choice Properties are delighted to bring to market this impressive home. Offering five bedrooms (one en-suite), spectacular open plan living space as well as a double garage with studio above, this superb property has been finished to a high specification with quality internal fittings. This beautiful home is ready to view at your earliest convenience.

Front Entrance Door To: -

Entrance Hall - 6.73m x 1.96m (22'1" x 6'5") - Staircase to the first floor landing. Understairs storage cupboard. Radiator. Smoke alarm. Tiled floor.

Cloakroom Wc - 1.98m x 0.93m (6'6" x 3'1") - With w.c. and wash hand basin. Tiled floor.

Lounge - 6.74m x 3.46m (22'1" x 11'4") - Electric fire set in feature surround. 2 radiators. Wall and ceiling lights. Opening leading through to the dining room. Double doors opening into the sun room.

Sun Room - 5.61m x 3.43m (18'5" x 11'3") - Radiator. Spot lighting. Double doors leading out to the rear.

Dining Room - 3.92m x 3.23m (12'10" x 10'7") - Bay with double doors leading out to the rear. Radiator. Centre lighting. Door to:

Study/Utility Space - 3.23m x 2.03m (10'7" x 6'8") - Radiator. Smoke alarm.

Kitchen - 6.73m x 3.35m (22'1" x 11') - The spacious kitchen is fitted with a range of units covered with granite work surfaces which also incorporates a drainer for the sink unit with mixer taps. Central kitchen island with fitted storage and matching work surfaces. Integrated electric oven and induction hob with extractor hood over. Space for American style fridge/freezer, washing machine, dishwasher and tumble dryer. Gas combination boiler which supplies the central heating and hot water. Spot lighting. Tiled floor. Radiator.

Landing - 4.93m x 1.96m (16'2" x 6'5") - Fitted storage cupboard. Access to the loft area.

Bedroom 1 - 4.70m x 3.33m plus 3.66m x 1.68m (dressing area) ( - Double doors to Balcony. Radiator. Dressing area. Door to:

En-Suite Shower Room - 3.18m x 1.22m (10'5" x 4') - With three piece white suite which consists of a shower enclosure with mixer shower, wash hand basin and w.c. set in vanity unit with storage. Fully tiled walls. Extractor fan. Chrome heated towel rail. Spot lighting.

Bedroom 2 - 3.35m x 3.15m (11' x 10'4") - Radiator.

Bedroom 3 - 3.35m x 2.97m (11' x 9'9") - Radiator.

Bedroom 4 - 3.35m x 3.35m to widest dimensions (11' x 11' to w - Presently used as a study with fitted desks and storage. Radiator.

Bedroom 5 - 3.35m x 1.85m (11' x 6'1") - Radiator.

Bathroom - 2.74m x 1.63m (9' x 5'4") - With three piece white suite which consists of a P-shaped shower bath with mixer shower and screen over, wash hand basin and w.c. set in vanity unit with storage. Fully tiled walls. Chrome heated towel rail. Tiled floor. Extractor fan.

Driveway - Spacious gravelled driveway with turning space and parking for several vehicles.

Double Garage - 7.01m x 5.49m (23' x 18') - Spacious double garage with electric remote operated garage door plus personal side door. Power and lighting. Staircase to the Studio above.

Studio - 7.01m x 4.52m (23' x 14'10") - Power and lighting.

Gardens - To the front of the property is a lawned garden fronted by a low level brick wall. To the rear is a spacious privately enclosed garden which is also laid to lawn with a paved patio area. Roll out canopy. Hot and cold external water taps. Timber shed measuring 12' x 12'. Outside lighting.

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 - Viewing by appointment through Choice Properties Louth 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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