2 Bed Terraced House, Refurb/BRRR, Derby, DE22 3RU, £110,000

Lynton Street, Derby, DE22 3RU - 10 views - a year ago

Sold STC

Refurb/BRRR

ROI: 10%

~55 m²

+4 photos

ValuationOvervalued

Sold Prices	£75K - £160K
Sold Prices/m²	£1.1K/m² - £2.6K/m²

Square Metres	~55.10 m²
Price/m²	£2K/m²
Value Estimate	£89,691£89,691

End Value (After Refurb)	£90,240£90,240

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£27,500£27,500
Stamp Duty & Legal Fees	£4,500£4,500
Refurb Costs	£22,277£22,277
Bridging Loan Interest	£2,888£2,888
Total Cash In	£58,914£58,914

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£90,240£90,240
Mortgage (After Refinance)	£67,680£67,680
Mortgage LTV	75%75%
Cash Left In	£58,914£58,914
Equity	£22,560£22,560
Rent Range	£395 - £2,250£395 - £2,250
Rent Estimate	£998
Running Costs/mo	£502£502
Cashflow/mo	£496£496
Cashflow/yr	£5,957£5,957
ROI	10%10%
Gross Yield	11%11%

Local Sold Prices

50 sold prices from £75K to £160K, average is £120K. £1.1K/m² to £2.6K/m², average is £1.6K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£112K	09/21	0.03 mi	64, Lynton Street, Derby, City Of Derby DE22 3RU	£1,723	65	2	Terraced House
£111K	10/21	0.04 mi	41, Ward Street, Derby, Derbyshire DE22 3RY	-	-	2	Terraced House
£125K	01/23	0.07 mi	59, Jackson Street, Derby, City Of Derby DE22 3SA	£1,608	78	2	Terraced House
£108K	06/21	0.08 mi	11, Olive Street, Derby, Derbyshire DE22 3RH	£2,298	47	2	Terraced House
£118K	02/21	0.09 mi	201, Drewry Lane, Derby, City Of Derby DE22 3QT	£1,157	102	2	Terraced House
£130K	06/23	0.09 mi	179, Drewry Lane, Derby, City Of Derby DE22 3QT	£1,806	72	2	Terraced House
£142.1K	08/21	0.1 mi	5, Bakewell Street, Derby, City Of Derby DE22 3SB	£1,973	72	2	Terraced House
£87.5K	10/20	0.11 mi	96, Drewry Lane, Derby, City Of Derby DE22 3QU	£1,250	70	2	Terraced House
£125K	11/22	0.15 mi	64, Werburgh Street, Derby, City Of Derby DE22 3QG	£1,838	68	2	Terraced House
£138K	01/23	0.16 mi	12, Pelham Street, Derby, City Of Derby DE22 3UG	£2,004	69	2	Terraced House
£114K	04/21	0.17 mi	69, King Alfred Street, Derby, City Of Derby DE22 3QL	£1,744	65	2	Terraced House
£100K	10/21	0.17 mi	65, King Alfred Street, Derby, City Of Derby DE22 3QL	£1,393	72	2	Terraced House
£130K	01/23	0.17 mi	85, King Alfred Street, Derby, City Of Derby DE22 3QL	£1,570	83	2	Terraced House
£145K	08/23	0.18 mi	72, King Alfred Street, Derby, City Of Derby DE22 3QJ	£2,197	66	2	Terraced House
£123.5K	02/21	0.18 mi	24, King Alfred Street, Derby, City Of Derby DE22 3QJ	£1,409	88	2	Terraced House
£97K	07/23	0.19 mi	9, Spring Street, Derby, City Of Derby DE22 3UF	£1,492	65	2	Terraced House
£117K	10/20	0.19 mi	18, Farm Street, Derby, City Of Derby DE22 3UH	£1,444	81	2	Terraced House
£95K	12/20	0.19 mi	32, Farm Street, Derby, Derbyshire DE22 3UH	£1,377	69	2	Terraced House
£135K	03/23	0.2 mi	105, Drewry Lane, Derby, City Of Derby DE22 3QS	£1,985	68	2	Terraced House
£125K	05/21	0.22 mi	4, College Mews, Derby, City Of Derby DE1 1UT	£1,894	66	2	Terraced House
£125K	10/20	0.22 mi	13, College Mews, Derby, City Of Derby DE1 1UT	£1,894	66	2	Terraced House
£110.5K	11/20	0.22 mi	61, Upper Boundary Road, Derby, City Of Derby DE22 3NU	£1,649	67	2	Terraced House
£145K	04/23	0.22 mi	37, May Street, Derby, City Of Derby DE22 3UQ	£1,648	88	2	Terraced House
£125K	10/20	0.22 mi	77, May Street, Derby, City Of Derby DE22 3UQ	£1,563	80	2	Terraced House
£120K	02/23	0.23 mi	15, Sun Street, Derby, City Of Derby DE22 3UL	-	-	2	Terraced House
£107K	03/21	0.23 mi	29, Sun Street, Derby, City Of Derby DE22 3UL	£1,427	75	2	Terraced House
£120K	07/21	0.23 mi	6, Sun Street, Derby, Derbyshire DE22 3UL	£1,628	74	2	Terraced House
£129K	03/23	0.23 mi	32, Woods Lane, Derby, City Of Derby DE22 3UA	£1,792	72	2	Terraced House
£100K	05/21	0.23 mi	18, Woods Lane, Derby, City Of Derby DE22 3UA	£1,099	91	2	Terraced House
£135K	04/23	0.24 mi	8, Riddings Street, Derby, City Of Derby DE22 3US	£1,800	75	2	Terraced House
£122K	11/21	0.24 mi	94, Moss Street, Derby, City Of Derby DE22 3WE	£1,890	65	2	Terraced House
£91K	03/21	0.24 mi	84, Moss Street, Derby, City Of Derby DE22 3WE	£1,151	79	2	Terraced House
£133K	12/22	0.24 mi	59, Riddings Street, Derby, City Of Derby DE22 3UT	£1,956	68	2	Terraced House
£107.5K	04/21	0.25 mi	11, Dean Street, Derby, City Of Derby DE22 3PR	£1,604	67	2	Terraced House
£96.1K	01/23	0.25 mi	23, Dean Street, Derby, City Of Derby DE22 3PS	£1,335	72	2	Terraced House
£120K	12/20	0.27 mi	40, Dean Street, Derby, City Of Derby DE22 3PS	£1,709	70	2	Terraced House
£114.3K	07/23	0.27 mi	44, Dean Street, Derby, City Of Derby DE22 3PS	£1,632	70	2	Terraced House
£135K	07/21	0.27 mi	42, Camden Street, Derby, City Of Derby DE22 3NR	£1,707	79	2	Terraced House
£111K	07/21	0.27 mi	31, Camden Street, Derby, City Of Derby DE22 3NR	£1,442	77	2	Terraced House
£100K	05/23	0.28 mi	237, Abbey Street, Derby, City Of Derby DE22 3ST	-	-	2	Terraced House
£117.5K	08/21	0.29 mi	22, Crosby Street, Derby, City Of Derby DE22 3NY	£1,632	72	2	Terraced House
£115K	10/21	0.29 mi	67, Dean Street, Derby, City Of Derby DE22 3PU	£1,597	72	2	Terraced House
£160K	09/21	0.3 mi	42, Ponsonby Terrace, Derby, City Of Derby DE1 1DT	£2,614	61	2	Semi-Detached House
£125.5K	02/23	0.3 mi	239, Abbey Street, Derby, City Of Derby DE22 3ST	£2,134	59	2	Terraced House
£140K	01/23	0.3 mi	26, Leicester Street, Derby, City Of Derby DE22 3PX	£2,273	62	2	Terraced House
£101K	04/21	0.31 mi	55, Leicester Street, Derby, City Of Derby DE22 3PW	£1,572	64	2	Terraced House
£157.3K	02/23	0.31 mi	7, Bedford Street, Derby, City Of Derby DE22 3PB	£1,873	84	2	Terraced House
£75K	03/21	0.31 mi	32, Bedford Street, Derby, City Of Derby DE22 3PB	-	-	2	Terraced House
£145K	03/23	0.31 mi	10, Bedford Street, Derby, City Of Derby DE22 3PB	£1,959	74	2	Terraced House
£85K	11/20	0.31 mi	41, Hoult Street, Derby, City Of Derby DE22 3NQ	£1,328	64	2	Terraced House

Local Rents

52 rents from £395/mo to £2.3K/mo, average is £863/mo.

Rent	Date	Distance	Address	Beds	Type
£800	02/24	0.02 mi	-	2	Terraced House
£395	12/24	0.02 mi	Lynton Street, Derby,	2	Flat
£825	01/24	0.03 mi	-	2	Terraced House
£2,000	03/24	0.04 mi	-	2	Flat
£2,000	02/24	0.04 mi	-	2	Flat
£2,000	02/24	0.04 mi	-	2	Flat
£800	12/24	0.04 mi	Lynton Street, Derby, DE22	2	Terraced House
£1,900	03/25	0.07 mi	-	2	Flat
£850	12/24	0.08 mi	Olive Street, DERBY	2	Terraced House
£725	12/24	0.1 mi	Bakewell Street, Derby	2	Terraced House
£795	12/24	0.11 mi	116 Drewry Lane, Derby	2	Terraced House
£1,000	03/24	0.15 mi	Fox House, Erasmus Drive, Derby	2	Flat
£1,025	03/24	0.15 mi	Fox house, Erasmus Drive, Derby DE1 2EL	2	House
£1,100	03/24	0.15 mi	Fox House, 2 Erasmus Drive, DE1 2ES	2	Flat
£900	03/24	0.15 mi	Fox House, Derby	2	Flat
£1,050	03/24	0.15 mi	Erasmus Drive, Derby	2	Flat
£1,000	03/24	0.15 mi	Fox House, Erasmus Drive	2	Flat
£1,050	04/24	0.15 mi	Erasmus Drive, Derby	2	Flat
£1,000	04/24	0.15 mi	Erasmus Drive, Derby	2	Flat
£1,000	04/24	0.15 mi	Erasmus Drive, Derby	2	Flat
£1,050	04/24	0.15 mi	Erasmus Drive, Derby	2	Flat
£900	04/24	0.15 mi	Fox House, Derby	2	Flat
£950	04/24	0.15 mi	Erasmus Drive, Derby	2	Flat
£1,000	04/24	0.15 mi	Erasmus Drive, Derby	2	Flat
£925	04/24	0.15 mi	Fox House, Erasmus Drive	2	Flat
£950	05/24	0.15 mi	Fox House, 2 Erasmus Drive DE1 2EL	2	Flat
£850	12/24	0.16 mi	-	2	Terraced House
£825	12/24	0.17 mi	-	2	Terraced House
£825	04/25	0.17 mi	-	2	Terraced House
£795	12/24	0.17 mi	Spring Street, Derby, Derbyshire	2	Flat
£650	12/24	0.18 mi	Drewry Court, Uttoxeter New Road	2	Flat
£650	12/24	0.18 mi	Drewry Court, Uttoxeter New Road	2	Flat
£750	02/24	0.18 mi	-	2	Flat
£825	12/24	0.18 mi	2 Bedroom Apartment, 32 Rowleys MillUttoxeter New Road, Derby Centre	2	Flat
£890	12/24	0.19 mi	-	2	Flat
£850	12/24	0.19 mi	Spring Street, Derby	2	Flat
£520	12/24	0.19 mi	Drewry Lane, Derby, Derby	2	Terraced House
£800	12/24	0.2 mi	Farm Street, Derby, Derbyshire, DE22	2	Terraced House
£2,250	02/24	0.2 mi	-	2	Flat
£2,250	03/24	0.2 mi	-	2	Flat
£2,250	12/24	0.2 mi	-	2	Flat
£2,250	12/24	0.2 mi	-	2	Flat
£595	12/24	0.21 mi	Woods Lane, Derby	2	Flat
£850	02/25	0.21 mi	-	2	Terraced House
£800	12/24	0.22 mi	-	2	Terraced House
£750	12/24	0.22 mi	-	2	Terraced House
£850	02/24	0.22 mi	-	2	Terraced House
£895	12/24	0.22 mi	-	2	Terraced House
£875	03/25	0.22 mi	-	2	Terraced House
£775	03/24	0.22 mi	-	2	Terraced House
£775	12/24	0.22 mi	-	2	Terraced House
£795	11/24	0.23 mi	-	2	Terraced House

Local Area Statistics

Population in DE22	46,00146,001
Population in Derby	308,324308,324
Town centre distance	0.69 miles away0.69 miles away
Nearest school	0.20 miles away0.20 miles away
Nearest train station	1.12 miles away1.12 miles away

Rental demand	Balanced marketBalanced market
Rental growth (12m)	+2%+2%
Sales demand	Seller's marketSeller's market
Capital growth (5yrs)	+15%+15%

Property History

Listed for £110,000

May 15, 2024

Floor Plans

Description

Traditional Two Bedroom Standard Construction Terraced Home +
EPC Rating E +
Council Tax Band A +
On-Street Parking +
Freehold +
No Onward Chain +
Two Reception Rooms +
Ground Floor Bathroom +
Kitchen +
Cellar +

Located to offer excellent access to the City Centre, this traditional two double bedroom terraced home is offered for sale with no upward chain.

The accommodation in brief comprises: Lounge; inner lobby to useful cellar store; separate dining room; fitted kitchen; inner hall with store cupboard; ground floor bathroom; first floor landing; two double bedrooms.

Outside, to the rear of the property is a neat, enclosed garden with patio seating area, brick store and a mix of flower and shrubbery beds.

Lynton Street is conveniently situated close to local bus routes and shops located on Ashbourne Road, as well as having excellent road links with the A52 and A38 road networks, leading both towards the city centre and out towards the A50 connecting with the M1 motorway.

The property requires some modernisation and internal upgrading and would make an excellent investment property or for those buyers looking for a portfolio property for a buy-to-let investment.