3 Bed Terraced House, Refurb/BRRR, Grimsby, DN32 8ED, £70,000

93 Columbia Road, Grimsby, North East Lincolnshire, DN32 8ED - 26 views - 9 months ago

Under Offer
Refurb/BRRR
Negative Equity
ROI: 4%
~85 m²
+9 photos

ValuationFair Value

Sold Prices£60K - £165K
Sold Prices/m²£432/m² - £2.1K/m²

 

 

Square Metres

~85.30 m²
Price/m²£821/m²

Value Estimate

£71,400

 

 

End Value (After Refurb)

£93,297

Uplift in Value

+33%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£17,500

Stamp Duty & Legal Fees

£3,300

Refurb Costs

£34,317

Bridging Loan Interest

£1,838

Total Cash In

£58,705

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£93,297

Mortgage (After Refinance)

£69,973

Mortgage LTV

75%

Cash Released

£17,473

Cash Left In

£41,232

Equity

£23,324

Rent Range

£525 - £2,000

Rent Estimate

£628

Running Costs/mo

£437

Cashflow/mo

£191

Cashflow/yr

£2,290

ROI

4%

Gross Yield

11%

Local Sold Prices

50 sold prices from £60K to £165K, average is £102.5K. £432/m² to £2.1K/m², average is £1.2K/m².

PriceDateDistanceAddressBeds 
£85.5K01/210.05 mi113, Humberstone Road, Grimsby, North East Lincolnshire DN32 8DR3
£88K03/230.05 mi112, Humberstone Road, Grimsby, North East Lincolnshire DN32 8DR3
£117K09/210.05 mi40, Huddleston Road, Grimsby, North East Lincolnshire DN32 8HJ3
£98K02/210.05 mi65, Huddleston Road, Grimsby, North East Lincolnshire DN32 8HJ3
£120K02/230.05 mi65, Huddleston Road, Grimsby, North East Lincolnshire DN32 8HJ3
£100K12/220.07 mi125, Fairmont Road, Grimsby, North East Lincolnshire DN32 8DX3
£87K11/220.07 mi102, Humberstone Road, Grimsby, North East Lincolnshire DN32 8DP3
£83K05/230.08 mi61, Columbia Road, Grimsby, North East Lincolnshire DN32 8EB3
£110K07/230.08 mi76, Columbia Road, Grimsby, North East Lincolnshire DN32 8EB3
£100K03/230.1 mi59, Fairmont Road, Grimsby, North East Lincolnshire DN32 8DY3
£134.5K03/210.1 mi163, Humberstone Road, Grimsby, North East Lincolnshire DN32 8HW3
£81K01/230.11 mi480, Weelsby Street, Grimsby, North East Lincolnshire DN32 8DL3
£115K01/230.12 mi506, Weelsby Street, Grimsby, North East Lincolnshire DN32 8DN3
£65K01/210.13 mi136, Durban Road, Grimsby, North East Lincolnshire DN32 8AY3
£125K04/210.13 mi142, Durban Road, Grimsby, Humberside DN32 8AY3
£140K01/230.13 mi144, Durban Road, Grimsby, North East Lincolnshire DN32 8AY3
£77.5K12/200.14 mi448, Weelsby Street, Grimsby, North East Lincolnshire DN32 8DJ3
£75K06/210.15 mi59, Durban Road, Grimsby, North East Lincolnshire DN32 8BA3
£78K11/200.16 mi30, Huddleston Road, Grimsby, North East Lincolnshire DN32 8HG3
£105K03/210.16 mi13, Huddleston Road, Grimsby, North East Lincolnshire DN32 8HG3
£110K02/230.16 mi15, Huddleston Road, Grimsby, North East Lincolnshire DN32 8HG3
£82K07/230.17 mi20, Fairmont Road, Grimsby, North East Lincolnshire DN32 8DZ3
£135K02/210.18 mi177, Columbia Road, Grimsby, North East Lincolnshire DN32 8EE3
£145K03/210.18 mi183, Columbia Road, Grimsby, North East Lincolnshire DN32 8EE3
£140K04/230.18 mi13, Runswick Road, Grimsby, North East Lincolnshire DN32 8HD3
£120K03/210.18 mi51, Runswick Road, Grimsby, North East Lincolnshire DN32 8HD3
£75K11/210.19 mi21, Cooper Road, Grimsby, North East Lincolnshire DN32 8DF3
£88K08/230.19 mi29, Cooper Road, Grimsby, North East Lincolnshire DN32 8DF3
£90K02/230.19 mi34, Cooper Road, Grimsby, North East Lincolnshire DN32 8DF3
£82K02/230.2 mi70, Durban Road, Grimsby, North East Lincolnshire DN32 8BD3
£115K08/210.2 mi30, Humberstone Road, Grimsby, North East Lincolnshire DN32 8BP3
£139K09/210.21 mi21, Samuel Avenue, Grimsby, North East Lincolnshire DN32 8ET3
£123K06/230.21 mi4, Samuel Avenue, Grimsby, North East Lincolnshire DN32 8ET3
£128K03/210.21 mi2, Samuel Avenue, Grimsby, North East Lincolnshire DN32 8ET3
£62K08/210.21 mi224, Durban Road, Grimsby, North East Lincolnshire DN32 8AT3
£115K04/210.22 mi49, Colin Avenue, Grimsby, North East Lincolnshire DN32 8EX3
£118.5K06/210.22 mi29, Colin Avenue, Grimsby, North East Lincolnshire DN32 8EX3
£135K01/230.22 mi16, Colin Avenue, Grimsby, North East Lincolnshire DN32 8EP3
£65K01/210.22 mi219, Durban Road, Grimsby, North East Lincolnshire DN32 8AU3
£60K01/210.22 mi217, Durban Road, Grimsby, North East Lincolnshire DN32 8AU3
£165K03/230.23 mi62, Colin Avenue, Grimsby, North East Lincolnshire DN32 8EP3
£120K10/220.23 mi46, Colin Avenue, Grimsby, North East Lincolnshire DN32 8EP3
£118K02/210.24 mi20, Carr Lane, Grimsby, North East Lincolnshire DN32 8AS3
£123K08/210.24 mi38, Carr Lane, Grimsby, North East Lincolnshire DN32 8AR3
£78K02/210.24 mi383, Weelsby Street, Grimsby, North East Lincolnshire DN32 8BJ3
£147K04/230.26 mi93, Carr Lane, Cleethorpes, North East Lincolnshire DN35 7SA3
£60K04/210.27 mi59, Buller Street, Grimsby, North East Lincolnshire DN32 8BW3
£60K02/210.27 mi412, Wellington Street, Grimsby, North East Lincolnshire DN32 7JS3
£72K06/210.27 mi380, Wellington Street, Grimsby, North East Lincolnshire DN32 7JS3
£61K12/200.27 mi392, Wellington Street, Grimsby, North East Lincolnshire DN32 7JS3

Local Rents

50 rents from £525/mo to £2K/mo, average is £645/mo.

RentDateDistanceAddressBeds 
£70003/240.09 miCooper Road, Grimsby3
£2,00001/250.11 mi-3
£64003/240.11 miCooper Road, Grimsby3
£57503/240.14 miDurban Road, Grimsby, DN323
£72503/240.14 miDurban Road, Grimsby, DN323
£72504/240.14 miDurban Road, Grimsby, DN323
£62504/240.15 miDurban Road, Grimsby3
£65010/240.19 mi-3
£79503/240.19 miFairmont Road, Grimsby, N E Lincs, DN323
£65003/240.2 miWeelsby Street, Grimsby3
£60004/240.2 miDurban Road, Grimsby3
£65004/240.2 miDurban Road, Grimsby, DN323
£64012/240.23 mi-3
£67502/250.23 mi-3
£65011/240.24 mi-3
£70005/240.27 miEscart Avenue, Grimsby3
£53503/240.27 miWellington Street, Grimsby3
£75003/240.27 miEscart Avenue, Grimsby3
£70004/240.27 miEscart Avenue, Grimsby3
£1,97004/250.29 mi-3
£1,97003/250.29 mi-3
£72512/240.29 mi-3
£75012/230.29 mi-3
£75005/240.29 mi-3
£75003/250.29 mi-3
£85004/240.3 miQueen Mary Avenue, Cleethorpes, DN353
£57503/240.3 miBuller Street, Grimsby, DN323
£67503/250.3 mi-3
£55003/240.31 miDonnington Street, Grimsby, Grimsby3
£60012/230.33 mi-3
£58503/240.34 miWeelsby Street, Grimsby3
£59503/240.34 miWeelsby Street, Grimsby3
£67504/240.34 miDaubney Street, Cleethorpes3
£59511/240.35 mi-3
£57504/240.35 miConvamore Road, Grimsby, North East Lincolnshire, DN323
£60002/250.35 mi-3
£53001/240.36 mi-3
£57501/240.36 mi-3
£69503/250.37 mi-3
£53503/240.37 miConvamore Road, Grimsby!3
£58004/240.38 miWeelsby Street, Grimsby3
£75003/240.38 miRobert Pearson Mews,Grimsby3
£65002/240.39 mi-3
£62011/230.41 mi-3
£62002/250.41 mi-3
£60003/240.41 mi-3
£60003/240.41 miDaubney St, Cleethorpes, DN353
£57501/250.41 mi-3
£52504/240.42 mi33 Harold Street, Grimsby3
£60004/250.42 mi-3

Local Area Statistics

Population in DN32

29,050

Population in Grimsby

124,581

Town centre distance

1.35 miles away

Nearest school

0.30 miles away

Nearest train station

0.81 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+14%

Sales demand

Balanced market

Capital growth (5yrs)

+13%

Property History

Listed for £70,000

-33%

July 16, 2024

Sold for £92,950

2007

Sold for £20,000

1995

Floor Plans

Description

*RECENTLY REDUCED*

ATTENTION INVESTORS/DEVELOPERS!!
A traditional bay fronted mid terrace house situated on Columbia Road lying just off Humberston Road within this popular residential area of Grimsby. Requiring some modernisation and updating the property provides scope to improve to taste providing a good size family home benefitting from a gas central heating system and uPVC double glazing. Briefly comprising an Entrance Hall opening into the spacious through Lounge Diner extending to 23'0" in length where the staircase leads to the first floor. It features a good size Kitchen with a range of shaker style cabinets in a light beech finish with freestanding cooker and extractor fan over. Adjacent is a Utility Room with a combination central heating boiler and separate w.c. On the first floor, a split level landing serves three bedrooms and a fully tiled bathroom with white suite. Outside there is a lawned rear garden. A great project for a discerning buyer, offered with immediate vacant possession. EPC Rating - D.

GROUND FLOOR
A uPVC double glazed front door leads into:

ENTRANCE HALL
With coving to the ceiling, complementary dado rail and meter cupboard.

THROUGH LOUNGE 7.01m (23'0")max in length
LOUNGE AREA 3.43m (11'3") x 3.00m (9'10")
Featuring a Louis style fireplace with gas fire, coving to the ceiling, a radiator and a uPVC double glazed bow window.

DINING AREA 4.01m (13'2") x 3.43m (11'3")
Open plant to the lounge area with staircase leading to the first floor. There is a radiator and a uPVC double glazed rear window.

KITCHEN 4.72m (15'6") x 2.64m (8'8")
A good size galley style kitchen fitted with a range of shaker style cabinets in a light beech finish with contrasting black worksurfaces incorporating a 1.5 bowl stainless steel sink with mixer taps and water filter. There is an attractive brick bond tiled splashback, a freestanding Kenwood stainless steel range cooker with matching backplate and overheard extractor fan, built-in wine rack, plumbing for an automatic washing machine and space for an undercounter fridge. It has a useful understairs storage cupboard and a uPVC double glazed side window. An open doorway leads to the:

UTILITY ROOM 1.68m (5'6") x 1.24m (4'1")
With worksurface, built-in storage cupboard and a wall mounted gas central heating boiler. There is a uPVC window and further double glazed door onto the garden.

SEPARATE W.C.
With low flush w.c (unaware of working condition).

FIRST FLOOR
LANDING
A split level landing serves three bedrooms and a bathroom. There is a radiator and access to the loft space.

BEDROOM ONE 4.01m (13'2") x 3.43m (11'3")
A good size double bedroom with a radiator and a uPVC double glazed front window.

BEDROOM TWO 3.43m (11'3") x 3.10m (10'2")
With a radiator and uPVC double glazed rear window.

BEDROOM THREE 2.64m (8'8") x 1.60m (5'3")
extending to 2.16m (7'1")
A small room with a radiator and a uPVC double glazed rear window.

BATHROOM
With a white suite comprising close coupled w.c, pedestal wash hand basin and panelled bath with thermostatic Mira shower. It has tiling to the walls and a uPVC double glazed side window.

OUTSIDE
The property has a small paved front garden with a wall and part fenced lawned rear garden.

GENERAL INFORMATION
Main gas, water, electricity and drainage are connected. Central heating comprises radiators as detailed above connected to the Vokera Easi-Heat Plus central heating boiler located in the Utility Room. The property has the benefit of uPVC framed double glazing. The Local Authority is the North East Lincolnshire Council and our enquiries with the Local Authority indicate the property to be in Council Tax Band A. The tenure is Freehold subject to Solicitors verification.

VIEWINGS
By appointment through the Agents on Grimsby 311000. A video walkthrough tour with commentary can be seen on Rightmove and our Martin Maslin website.

Agent Details

Martin Maslin, Grimsby

01472 404338

Next Steps?

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