3 Bed Semi-Detached House, Refurb/BRRR, Grimsby, DN34 5TN, £120,000

24 Sherwood Road, GRIMSBY, DN34 5TN - 1 views - 10 months ago

Sold STC
Refurb/BRRR
ROI: 3%
67 m²
+9 photos

ValuationOvervalued

Sold Prices£65K - £310K
Sold Prices/m²£783/m² - £3.1K/m²

 

 

Square Metres

67 m²
Price/m²£1.8K/m²

Value Estimate

£83,369

 

 

End Value (After Refurb)

£119,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£30,000

Stamp Duty & Legal Fees

£4,800

Refurb Costs

£27,150

Bridging Loan Interest

£3,150

Total Cash In

£66,850

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£119,000

Mortgage (After Refinance)

£89,250

Mortgage LTV

75%

Cash Left In

£66,850

Equity

£29,750

Rent Range

£650 - £895

Rent Estimate

£723

Running Costs/mo

£536

Cashflow/mo

£187

Cashflow/yr

£2,238

ROI

3%

Gross Yield

7%

Local Sold Prices

50 sold prices from £65K to £310K, average is £119K. £783/m² to £3.1K/m², average is £1.3K/m².

PriceDateDistanceAddressBeds 
£135K02/230.02 mi20, Sherwood Road, Grimsby, North East Lincolnshire DN34 5TN3
£84.5K05/210.06 mi20, Welbeck Road, Grimsby, North East Lincolnshire DN34 5NJ3
£110K03/210.06 mi24, Welbeck Road, Grimsby, North East Lincolnshire DN34 5NJ3
£210K01/230.1 mi108, Little Coates Road, Grimsby, North East Lincolnshire DN34 5SY3
£100K10/200.1 mi150, Little Coates Road, Grimsby, North East Lincolnshire DN34 5SX3
£87K10/200.11 mi58, Sherwood Road, Grimsby, North East Lincolnshire DN34 5TJ3
£95K01/230.12 mi7, Willoughby Grove, Grimsby, North East Lincolnshire DN34 5JS3
£92K02/210.12 mi6, Willoughby Grove, Grimsby, North East Lincolnshire DN34 5JS3
£127K06/210.12 mi116, Little Coates Road, Grimsby, North East Lincolnshire DN34 5SY3
£135K05/210.12 mi118, Little Coates Road, Grimsby, North East Lincolnshire DN34 5SY3
£75K12/200.13 mi10, Wroxham Avenue, Grimsby, North East Lincolnshire DN34 5SF3
£116K09/210.13 mi209, Little Coates Road, Grimsby, North East Lincolnshire DN34 5TP3
£115K08/210.15 mi63, Crowland Avenue, Grimsby, North East Lincolnshire DN34 5JT3
£107K01/210.16 mi19, Brocklesby Road, Grimsby, North East Lincolnshire DN34 5NF3
£82K01/230.16 mi153, Sherwood Road, Grimsby, North East Lincolnshire DN34 5TQ3
£105K10/200.18 mi1, Newbury Grove, Grimsby, Humberside DN34 5SG3
£65K10/210.19 mi72, Wroxham Avenue, Grimsby, North East Lincolnshire DN34 5SQ3
£145K11/220.19 mi20, Watford Avenue, Grimsby, North East Lincolnshire DN34 5JF3
£101K11/200.2 mi27, Broadway, Grimsby, North East Lincolnshire DN34 5RW3
£112K12/200.21 mi432, Laceby Road, Grimsby, North East Lincolnshire DN34 5ND3
£183K04/230.21 mi442, Laceby Road, Grimsby, North East Lincolnshire DN34 5ND3
£85K11/210.21 mi33, Clarendon Road, Grimsby, North East Lincolnshire DN34 5SE3
£78K11/210.21 mi19, Clarendon Road, Grimsby, North East Lincolnshire DN34 5SE3
£80K01/210.21 mi49, Clarendon Road, Grimsby, North East Lincolnshire DN34 5SE3
£125K05/230.21 mi85, St Ives Crescent, Grimsby, North East Lincolnshire DN34 5SJ3
£135K09/210.22 mi40, Broadway, Grimsby, North East Lincolnshire DN34 5RN3
£140K06/230.22 mi70, Broadway, Grimsby, North East Lincolnshire DN34 5RN3
£150K09/230.22 mi48, Broadway, Grimsby, North East Lincolnshire DN34 5RN3
£135K03/230.23 mi384, Laceby Road, Grimsby, North East Lincolnshire DN34 5LX3
£165K12/220.24 mi1, Tattershall Avenue, Grimsby, North East Lincolnshire DN34 5JL3
£128K12/200.24 mi6, Longfield Road, Grimsby, North East Lincolnshire DN34 5SB3
£69K12/200.27 mi9, Selbourne Road, Grimsby, North East Lincolnshire DN34 5SD3
£103K05/210.27 mi75, Carnforth Crescent, Grimsby, North East Lincolnshire DN34 5JB3
£172K11/220.29 mi364, Laceby Road, Grimsby, North East Lincolnshire DN34 5LU3
£210K03/210.31 mi24, Stephen Crescent, Grimsby, North East Lincolnshire DN34 5LZ3
£195K03/210.31 mi13, Stephen Crescent, Grimsby, North East Lincolnshire DN34 5LZ3
£310K04/210.31 mi27, Bradley Road, Grimsby, North East Lincolnshire DN33 1QN3
£180K10/220.32 mi14, Stephen Crescent, Grimsby, North East Lincolnshire DN34 5LZ3
£120K10/200.32 mi27, Winchcombe Avenue, Grimsby, North East Lincolnshire DN34 5PR3
£100K06/230.32 mi4, Winchcombe Avenue, Grimsby, North East Lincolnshire DN34 5PR3
£87K10/200.33 mi5, Castleford Avenue, Grimsby, North East Lincolnshire DN34 5HP3
£136.5K06/230.34 mi94, Broadway, Grimsby, North East Lincolnshire DN34 5RP3
£130K03/230.37 mi48, Barry Avenue, Grimsby, North East Lincolnshire DN34 5LS3
£118K02/210.37 mi40, Barry Avenue, Grimsby, North East Lincolnshire DN34 5LS3
£150K03/210.37 mi14, Barry Avenue, Grimsby, North East Lincolnshire DN34 5LS3
£155K03/210.37 mi24, Barry Avenue, Grimsby, Humberside DN34 5LS3
£100K07/230.37 mi34, Pershore Avenue, Grimsby, North East Lincolnshire DN34 5PU3
£125K09/210.38 mi120, Pershore Avenue, Grimsby, North East Lincolnshire DN34 5QA3
£106K02/210.38 mi128, Pershore Avenue, Grimsby, North East Lincolnshire DN34 5QA3
£130K11/200.39 mi491, Laceby Road, Grimsby, North East Lincolnshire DN34 5PA3

Local Rents

13 rents from £650/mo to £895/mo, average is £725/mo.

RentDateDistanceAddressBeds 
£72504/240.14 mi-3
£72504/240.14 miWroxham Avenue, Grimsby, DN343
£72503/240.21 miClarendon Road, Grimsby, DN343
£68502/250.24 mi-3
£68002/250.24 mi-3
£79503/240.34 mi-3
£89503/240.5 miStainton Drive, Grimsby, Lincolnshire, DN333
£67507/230.53 mi-3
£72508/240.53 mi-3
£70004/240.55 miToothill Gardens, Grimsby, North East Lincs, DN34 3
£75008/240.6 mi-3
£65011/230.62 mi-3
£67502/250.62 mi-3

Local Area Statistics

Population in DN34

19,205

Population in Grimsby

124,581

Town centre distance

1.14 miles away

Nearest school

0.30 miles away

Nearest train station

1.56 miles away

 

 

Rental growth (12m)

-18%

Sales demand

Balanced market

Capital growth (5yrs)

+30%

Property History

Listed for £120,000

May 20, 2024

Floor Plans

Description

  • VIDEO VIEWING AVAILABLE +
  • 3 Bedroomed Semi-Detached House On Sherwood Road +
  • Realistically Priced For A Quick Sale +
  • Ideal For Families Or Investors Requiring A Property With Potential +
  • Close To Schools, Parks & Shops +
  • Excellent Transport Links For Easy Commuting +
  • Significant Potential For Equity Growth Through Renovation +
  • Driveway & Garage +
  • NO "CHAIN" - FREEHOLD UPON COMPLETION +

Discover the appeal of this three bedroomed semi-detached house in this family friendly neighbourhood of Grimsby. Priced for a quick sale due to its need for some modernisation, this property represents a fantastic opportunity for families or investors looking to put their stamp on a home.
With its pleasant layout, detached garage and lovely rear garden it offers ample opportunity for customisation. The ground floor features a welcoming entrance hall leading to the living room which leads to the kitchen. The kitchen, ready for updating, can be transformed into a vibrant space for cooking and socialising. Upstairs are three generous bedrooms and a smart white shower room.
Situated on Sherwood Road, the home benefits from its proximity to Excellent local schools, shops, supermarkets and healthcare facilities. Nearby parks and recreational areas enrich family life, whilst strong transport links ensure easy commutes to surrounding areas.
This property is not just a home but an investment with its renovation potential, it promises substantial value growth, making it an appealing option for those looking to increase equity. Interested buyers are encouraged to view and explore the possibilities this home has to offer. Contact Jackson, Green and Preston Estate Agents for more information or to arrange a viewing.

Agent Details

Jackson Green and Preston, Grimsby

01472 404357

Next Steps?

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