2 Bed Terraced House, Refurb/BRRR, Cleethorpes, DN35 8EA, £79,000

7 GILES STREET, CLEETHORPES - 1 views - a year ago

Sold STC
Refurb/BRRR
ROI: 13%
51 m²
+1 photos

ValuationUndervalued

Sold Prices£40K - £167K
Sold Prices/m²£656/m² - £3K/m²

 

 

Square Metres

51 m²
Price/m²£1.5K/m²

Value Estimate

£81,370
BMV3%

 

 

End Value (After Refurb)

£75,640

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£19,750

Stamp Duty & Legal Fees

£3,570

Refurb Costs

£20,601

Bridging Loan Interest

£2,074

Total Cash In

£47,745

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£75,640

Mortgage (After Refinance)

£56,730

Mortgage LTV

75%

Cash Left In

£47,745

Equity

£18,910

Rent Range

£450 - £2,509

Rent Estimate

£946

Running Costs/mo

£446

Cashflow/mo

£500

Cashflow/yr

£6,005

ROI

13%

Gross Yield

14%

Local Sold Prices

50 sold prices from £40K to £167K, average is £113.8K. £656/m² to £3K/m², average is £1.6K/m².

PriceDateDistanceAddressBeds 
£88K02/210.05 mi66, Bentley Street, Cleethorpes, North East Lincolnshire DN35 8DN2
£87.5K02/210.07 mi57, Bentley Street, Cleethorpes, North East Lincolnshire DN35 8DL2
£112.5K07/230.07 mi61, Bentley Street, Cleethorpes, North East Lincolnshire DN35 8DL2
£86K06/230.15 mi8, Claymore Close, Cleethorpes, North East Lincolnshire DN35 8EN2
£74K03/210.17 mi110, Fairview Avenue, Cleethorpes, North East Lincolnshire DN35 8DQ2
£92K12/200.17 mi40, Fairview Avenue, Cleethorpes, Humberside DN35 8DQ2
£110K07/210.17 mi52, Fairview Avenue, Cleethorpes, North East Lincolnshire DN35 8DQ2
£140K08/210.19 mi37, Kew Road, Cleethorpes, North East Lincolnshire DN35 8DD2
£120K12/220.19 mi79, College Street, Cleethorpes, North East Lincolnshire DN35 8BN2
£115K09/210.2 mi29, Glebe Road, Cleethorpes, North East Lincolnshire DN35 8DA2
£70K01/230.2 mi12, The Gatherums, Cleethorpes, North East Lincolnshire DN35 8ER2
£70K07/230.21 mi13, The Gatherums, Cleethorpes, North East Lincolnshire DN35 8ER2
£158K04/210.21 mi1, Albermarle Court, Cleethorpes, North East Lincolnshire DN35 8JF2
£150K01/210.21 mi2, Albermarle Court, Cleethorpes, North East Lincolnshire DN35 8JF2
£124K05/210.25 mi28, Mill Place, Cleethorpes, North East Lincolnshire DN35 8ND2
£120K12/210.29 mi27, West Street, Cleethorpes, North East Lincolnshire DN35 8QA2
£59.5K05/210.31 mi18, St Heliers Road, Cleethorpes, North East Lincolnshire DN35 7LQ2
£83K04/230.32 mi111, St Heliers Road, Cleethorpes, North East Lincolnshire DN35 7LG2
£82K06/230.32 mi91, St Heliers Road, Cleethorpes, North East Lincolnshire DN35 7LG2
£88K11/200.32 mi33, St Heliers Road, Cleethorpes, North East Lincolnshire DN35 7LG2
£79K02/230.32 mi107, St Heliers Road, Cleethorpes, North East Lincolnshire DN35 7LG2
£95K09/230.32 mi30, Yarra Road, Cleethorpes, North East Lincolnshire DN35 8LS2
£120K03/210.32 mi35, Yarra Road, Cleethorpes, North East Lincolnshire DN35 8LS2
£118K05/210.32 mi28, William Street, Cleethorpes, North East Lincolnshire DN35 8PW2
£82.5K03/210.36 mi2, Clumber Place, Cleethorpes, North East Lincolnshire DN35 8PF2
£40K01/210.4 mi41, Pelham Road, Cleethorpes, North East Lincolnshire DN35 7JT2
£88K09/230.43 mi14, Bennett Road, Cleethorpes, North East Lincolnshire DN35 7JS2
£145K03/210.44 mi18, Pine Walk, Cleethorpes, North East Lincolnshire DN35 8BP2
£149.9K06/210.48 mi33, Parker Street, Cleethorpes, North East Lincolnshire DN35 8TH2
£115K12/210.48 mi14, North Street, Cleethorpes, North East Lincolnshire DN35 8NP2
£75K06/230.48 mi7, North Street, Cleethorpes, North East Lincolnshire DN35 8NP2
£167K11/200.49 mi2, Bark Street, Cleethorpes, North East Lincolnshire DN35 8RD2
£112K06/230.49 mi8, Bark Street, Cleethorpes, North East Lincolnshire DN35 8RD2
£145K09/210.49 mi60, Warwick Road, Cleethorpes, North East Lincolnshire DN35 9ET2
£120K08/210.51 mi10, Whites Road, Cleethorpes, North East Lincolnshire DN35 8RP2
£115K12/200.52 mi189, Sandringham Road, Cleethorpes, North East Lincolnshire DN35 9AB2
£103K11/200.53 mi19, Nicholson Street, Cleethorpes, Humberside DN35 8RW2
£108K02/210.53 mi12, Nicholson Street, Cleethorpes, North East Lincolnshire DN35 8RW2
£102K03/210.53 mi34, Nicholson Street, Cleethorpes, North East Lincolnshire DN35 8RW2
£98K05/210.53 mi4, Nicholson Street, Cleethorpes, North East Lincolnshire DN35 8RW2
£116K04/230.53 mi12, Hey Street, Cleethorpes, North East Lincolnshire DN35 8TG2
£112K09/220.53 mi42, Nicholson Street, Cleethorpes, North East Lincolnshire DN35 8RW2
£125K05/230.55 mi12, Hope Street, Cleethorpes, North East Lincolnshire DN35 8QZ2
£165K08/230.56 mi29a, Wendover Rise, Cleethorpes, North East Lincolnshire DN35 8TS2
£122K12/220.59 mi94, Penshurst Road, Cleethorpes, North East Lincolnshire DN35 9EN2
£150K12/220.59 mi8, Suggitts Orchard, Cleethorpes, North East Lincolnshire DN35 7LN2
£140K09/210.59 mi16, Warwick Road, Cleethorpes, North East Lincolnshire DN35 9EX2
£115K05/230.61 mi23, May Street, Cleethorpes, North East Lincolnshire DN35 7HH2
£165K10/210.62 mi44, Clee Crescent, Grimsby, North East Lincolnshire DN32 8LS2
£141K12/200.63 mi48, Bramhall Street, Cleethorpes, North East Lincolnshire DN35 7QY2

Local Rents

40 rents from £450/mo to £2.5K/mo, average is £673/mo.

RentDateDistanceAddressBeds 
£62503/240.05 miBentley Street, Cleethorpes, DN352
£63503/240.11 miBentley Street, Cleethorpes, Lincolnshire, DN352
£65003/240.15 miElm Gardens, Cleethorpes2
£65003/250.15 mi-2
£52503/240.16 miMaegan Way, Cleethorpes2
£45002/240.16 mi-2
£60005/240.17 miFairview Avenue, Cleethorpes2
£1,30002/250.21 mi-2
£1,30001/250.21 mi-2
£2,50903/250.21 mi-2
£1,80002/250.21 mi-2
£1,80003/240.22 miMill Road, Cleethorpes2
£70004/240.23 miSt Peters Avenue, Cleethorpes, DN35 8HF2
£57503/240.23 miHigh Street, Cleethorpes, DN352
£60005/240.23 miOsborne Street, Cleethorpes2
£2,10004/240.23 mi-2
£1,50001/250.23 mi-2
£1,10002/250.23 mi-2
£2,10005/240.23 miBills Inc, Cleethorpes, DN352
£53001/250.24 mi-2
£57503/240.24 miPoplar Road, Cleethorpes, Lincolnshire, DN352
£50003/240.25 miPoplar Road, Cleethorpes2
£58004/240.25 miPoplar Road, Cleethorpes, Lincolnshire, DN352
£59503/240.28 miWest Street, Cleethorpes2
£60003/240.3 miWilliam Street, Cleethorpes, DN35 8PT2
£63503/240.38 miSea View Street, Cleethorpes2
£75003/240.43 miPine Walk, Cleethorpes, DN35 8BP2
£80003/240.46 mi23 Pine Walk, Cleethorpes2
£59505/240.47 miBark Street, Cleethorpes, DN352
£59505/240.47 mi-2
£1,10004/240.48 mi-2
£1,10003/250.48 mi-2
£1,10003/240.48 miHumber St, Cleethorpes, DN352
£69503/240.48 miHumber Street, Cleethorpes2
£65004/250.48 mi-2
£62503/240.5 miWhites Road, Cleethorpes2
£70003/240.51 miFalcon Mews, Cleethorpes, N E Lincolnshire, DN352
£99512/230.6 mi-2
£99504/240.6 mi-2
£99503/240.6 miKingsway, Cleethorpes, DN352

Local Area Statistics

Population in DN35

34,530

Town centre distance

0.38 miles away

Nearest school

0.30 miles away

Nearest train station

0.34 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+51%

Sales demand

Balanced market

Capital growth (5yrs)

+21%

Property History

Listed for £79,000

April 2, 2024

Floor Plans

Description

  • INVESTMENT OPPORTUNITY +
  • TENANT IN SITU +
  • WALKING DISTANCE TO THE SHOPS +
  • WALKING DISTANCE TO THE BEACH +
  • CENTRAL LOCATION +
  • uPVC DOUBLE GLAZING +
  • GAS CENTRAL HEATING +
  • GOOD SIZED REAR GARDEN +

This Charming two bed-room mid- terrace property is situated in the heart of the picturesque seaside resort of Cleethorpes. While in need of some renovation, it boasts original features and offers a spacious garden. Located within walking distance of the beach and local shops, this 19th century home presents an ideal opportunity to purchase a property that is already working for you with a tenant in situ.

Entrance Hall - Walking through a double glazed door to a porch area with a single glazed wooden door, a central heating radiator, doors to the lounge and dining room and stairs in the middle to the first floor.

Lounge - 3.86m x 2.95m (12'8 x 9'8) - This is a good sized lounge with walk in double glazed box bay, original cornicing to the ceiling, deep skirting and central ceiling rose. With patterned wall paper and dado rail. There is a central heating radiator. Chimney breast with tiled fire place and hearth.

Dining Room - 3.58m x 4.04m (11'9 x 13'3) - This room is of good proportions with a double glazed window to the rear elevation, central heating radiator, central light fitting, electric fire to chimney breast, feature wall papered wall and under the stairs storage.

Kitchen - 3.73m x 2.06m (12'3 x 6'9) - The kitchen comprises of white wall and base units with a grey roll top work surface. There is a stainless steel sink, room for appliances, a double glazed window to side elevation and a double glazed back door to the rear garden.

Landing - From the stairs all doors to bedrooms and bathroom, light fitting, loft access carpeted and a central heating radiator.

Bedroom One - 3.63m x 4.04m (11'11 x 13'3) - This double bedroom is to the front of the property with a double glazed window, central heating radiator, a good size over the bulk head of the stairs storage cupboard, central light fitting and carpeted flooring.

Bedroom Two - 3.07m x 3.63m (10'1 x 11'11) - The second double bedroom with double glazed window to the rear elevation, central heating radiator and central light fitting.

Bathroom - 3.61m x 2.01m (11'10 x 6'7) - The bathroom comprises of a white suite including a panelled bath with white tiling to half of the walls, a pedestal wash hand basin and a WC, There is a double glazed window to the rear elevation with privacy glass, a large storage cupboard that houses the boiler that was replaced two years ago, a central heating radiator, carpet to the floor and a central light fitting.

Garden - This is a good sized space, As you step out from the kitchen door there is a concrete passage with a gate that gives access to the main garden with a wooden fenced boundary, the area is mainly laid to lawn with a concrete path leading to the shed.

Agent Details

BMH, Cleethorpes

01472 404377

Next Steps?

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