2 Bed Flat, Single Let, Louth, LN11 7WA, £119,500





ValuationOvervalued
Sold Prices | £60K - £215K |
Sold Prices/m² | £1.4K/m² - £2.4K/m² |
| |
Square Metres | ~53 m² |
Price/m² | £2.3K/m² |
Value Estimate | £89,715£89,715 |
Cashflows
Cash In | |
Purchase Finance | MortgageMortgage |
Deposit (25%) | £29,875£29,875 |
Stamp Duty & Legal Fees | £7,175£7,175 |
Total Cash In | £37,050£37,050 |
| |
Cash Out | |
Rent Range | £425 - £875£425 - £875 |
Rent Estimate | £483 |
Running Costs/mo | £490£490 |
Cashflow/mo | £-7£-7 |
Cashflow/yr | £-84£-84 |
Gross Yield | 5%5% |
Local Sold Prices
20 sold prices from £60K to £215K, average is £110K. £1.4K/m² to £2.4K/m², average is £1.7K/m².
Price | Date | Distance | Address | Price/m² | m² | Beds | Type | |
£82K | 12/20 | 0 mi | 1, Forlander Place, Louth, Lincolnshire LN11 7WA | £1,439 | 57 | 2 | Flat | |
£104K | 06/23 | 0 mi | 4, Forlander Place, Louth, Lincolnshire LN11 7WA | £1,857 | 56 | 2 | Flat | |
£92K | 06/21 | 0.15 mi | 13, Mallard Ings, Louth, Lincolnshire LN11 0FD | - | - | 2 | Flat | |
£98K | 03/23 | 0.15 mi | 13, Mallard Ings, Louth, Lincolnshire LN11 0FD | - | - | 2 | Flat | |
£110K | 11/22 | 0.15 mi | 11, Mallard Ings, Louth, Lincolnshire LN11 0FD | - | - | 2 | Flat | |
£113.5K | 03/22 | 0.19 mi | 8, Canal Close, Louth, Lincolnshire LN11 0FH | - | - | 2 | Flat | |
£107K | 03/22 | 0.19 mi | 8a, Canal Close, Louth, Lincolnshire LN11 0FH | - | - | 2 | Flat | |
£144K | 10/21 | 0.3 mi | 2a, Brackenborough Road, Louth, Lincolnshire LN11 0AE | - | - | 2 | Flat | |
£115.5K | 01/22 | 0.4 mi | 2, James Court, Louth, Lincolnshire LN11 0JY | £1,885 | 61 | 2 | Flat | |
£117.5K | 03/21 | 0.41 mi | 10, James Court, Louth, Lincolnshire LN11 0JY | £1,655 | 71 | 2 | Flat | |
£112K | 04/21 | 0.41 mi | 3, James Court, Louth, Lincolnshire LN11 0JY | £1,804 | 62 | 2 | Flat | |
£120K | 01/21 | 0.46 mi | 65, Mount Pleasant, Louth, Lincolnshire LN11 9DW | £1,481 | 81 | 2 | Flat | |
£80K | 03/21 | 0.52 mi | 8, Spring Court, Louth, Lincolnshire LN11 9PR | £1,618 | 49 | 2 | Flat | |
£129K | 11/23 | 0.52 mi | 2, Spring Court, Louth, Lincolnshire LN11 9PR | £2,434 | 53 | 2 | Flat | |
£110K | 03/23 | 0.57 mi | 23b, Northgate, Louth, Lincolnshire LN11 0LT | £1,487 | 74 | 2 | Flat | |
£105K | 02/22 | 0.62 mi | 15, Northgate Court, Louth, Lincolnshire LN11 0LZ | - | - | 2 | Flat | |
£85.5K | 06/23 | 0.67 mi | 91, Aswell Street, Louth, Lincolnshire LN11 9HW | £1,693 | 51 | 2 | Flat | |
£120K | 08/23 | 0.72 mi | 199, Newmarket, Louth, Lincolnshire LN11 9EJ | £1,872 | 64 | 2 | Flat | |
£60K | 08/21 | 0.74 mi | Top Flat, 54, Upgate, Louth, Lincolnshire LN11 9EX | - | - | 2 | Flat | |
£215K | 06/21 | 0.82 mi | 4a, School House Lane, Louth, Lincolnshire LN11 9AQ | - | - | 2 | Flat |
Local Rents
32 rents from £425/mo to £875/mo, average is £600/mo.
Rent | Date | Distance | Address | Beds | Type | |
£550 | 05/24 | 0.03 mi | 3 Waterside Mews Eastgate Louth LN11 8DD | 2 | Flat | |
£600 | 12/24 | 0.05 mi | Old School Court, Eastfield Road, Louth | 2 | Flat | |
£625 | 05/24 | 0.08 mi | Commercial Road, Louth | 2 | House | |
£650 | 06/24 | 0.27 mi | Parsons Halt, Louth | 2 | Detached House | |
£625 | 06/24 | 0.29 mi | 7 Newbridge Court Newbridge Hill Louth LN11 0NQ | 2 | Flat | |
£550 | 04/24 | 0.3 mi | - | 2 | Flat | |
£625 | 05/24 | 0.31 mi | Ramsgate Louth LN11 0NE | 2 | Detached House | |
£595 | 05/24 | 0.31 mi | Bridge View, Ramsgate, Louth. LN11 0NE | 2 | Flat | |
£600 | 03/25 | 0.32 mi | - | 2 | Flat | |
£650 | 05/24 | 0.33 mi | Priory Road, Louth | 2 | Terraced House | |
£695 | 05/24 | 0.36 mi | Harveys Lane, Louth. LN11 8BP | 2 | Flat | |
£565 | 12/24 | 0.38 mi | James Street, Louth | 2 | Terraced House | |
£875 | 06/24 | 0.39 mi | Monks Dyke Road, Louth | 2 | Semi-Detached House | |
£550 | 06/24 | 0.39 mi | Leakes Row, Louth | 2 | Terraced House | |
£650 | 12/24 | 0.41 mi | - | 2 | Flat | |
£800 | 05/24 | 0.44 mi | 18 Conker Grove Louth LN11 7BY | 2 | Detached House | |
£675 | 05/24 | 0.46 mi | Plover Grove, Louth, LN11 | 2 | Flat | |
£675 | 01/25 | 0.46 mi | - | 2 | Bungalow | |
£745 | 12/24 | 0.46 mi | - | 2 | Bungalow | |
£575 | 05/24 | 0.46 mi | Eastgate, Louth, LN11 | 2 | Flat | |
£575 | 05/24 | 0.46 mi | Eastgate, Louth, LN11 | 2 | Flat | |
£775 | 03/25 | 0.5 mi | - | 2 | Terraced House | |
£495 | 05/24 | 0.54 mi | Church Street, Louth, LN11 9BZ | 2 | Flat | |
£575 | 05/24 | 0.55 mi | Kidgate, Louth | 2 | Flat | |
£650 | 06/24 | 0.55 mi | Kidgate, Louth | 2 | Semi-Detached House | |
£550 | 12/24 | 0.55 mi | - | 2 | Terraced House | |
£575 | 05/24 | 0.57 mi | Northgate Court | 2 | Flat | |
£575 | 05/24 | 0.57 mi | Northgate Court | 2 | Flat | |
£625 | 05/24 | 0.58 mi | The Gatherums, Queen Street Place | 2 | Semi-Detached House | |
£425 | 05/24 | 0.6 mi | Eastgate, Louth | 2 | Flat | |
£425 | 06/24 | 0.6 mi | Eastgate, Louth | 2 | Flat | |
£545 | 03/25 | 0.61 mi | - | 2 | Flat |
Local Area Statistics
Population in LN11 | 28,17928,179 |
Population in Louth | 28,19728,197 |
Town centre distance | 0.59 miles away0.59 miles away |
Nearest school | 0.20 miles away0.20 miles away |
Nearest train station | 13.29 miles away13.29 miles away |
| |
Rental demand | Landlord's marketLandlord's market |
Rental growth (12m) | +12%+12% |
Sales demand | Buyer's marketBuyer's market |
Capital growth (5yrs) | +9%+9% |
Property History
Price changed to £119,500
February 12, 2025
Listed for £122,500
July 19, 2024
Floor Plans

Description
- Ground floor apartment - ideal for 1st time buyers or iinvestor. +
- Close to the canal and Woolpack Inn +
- Off street parking, communal lawned gardens +
- Leasehold - 950 year lease from 2001 +
- Gas CH system, new boiler around 2 years ago +
- 2 double bedrooms, refurbished modern shower room +
- Good size din-lounge, ent lobby and inner hall +
- Breakfast-kitchen, DG windows +
- Intercom entry into communal hall +
- For sale with NO CHAIN +
Ideal for first time buyers or investors and enjoying easy, level access with off street parking space, this ground floor purpose-built apartment is located in a modern three storey building. The property is positioned close to the re-developed canal side area of Louth just a few paces from the Woolpack Inn and has gas central heating with a recently renewed boiler, and double-glazed windows. There are two good-size bedrooms, dining-lounge, breakfast kitchen and shower room all accessed off an inner hall with entrance lobby from the secure communal hallway with intercom entry. For Sale with NO CHAIN. Leasehold on a 950-year term from 2001.
The property has been let in the past producing a gross annual income of £5,800.
Directions From St James Church in the town centre, travel south along Upgate and take the second left turn onto Mercer Row. Follow the road through the town centre keeping ahead at the small junction and then, at the second mini roundabout by the Morrisons store, take the first exit along Ramsgate. At the next mini roundabout take the second exit along Ramsgate Road, follow this for some way and round the right bend by the Woolpack Inn. The entrance to Forlander Place is then on the right as shown in our first image.
About this Apartment.... Apartment 6 is positioned on the first floor within the southernmost of the two Forlander Place buildings and to the west end of the building with ground floor entrance on the north elevation. The rear windows face the River Lud which passes through the communal grounds. The apartment has new floor coverings, a fully refurbished contemporary shower room, newly decorated interior and the central heating boiler was renewed around 2 years ago.
Accommodation (Approximate room dimensions are shown on the floor plans which are indicative of the room layout and not to specific scale)
The property is approached through an entrance on the north side of the building where a part-glazed (double-glazed) door and double-glazed window adjacent, leads into the:
Communal Hallway With staircase having spindle balustrade leading up to the first floor and second floor flats and the only door on the ground floor is the main entrance into flat number 3. This comprises a white, six-panel door into the:
Entrance Lobby With ceiling light, coat hooks to wall plaque and a further white, six-panel door to the:
Inner Hallway With two ceiling lights, smoke alarm and white, three-panel double doors to a deep built-in cloaks/storage cupboard with clothes hanging rail and three wall shelves. White, six-panel doors lead off to the bedrooms, bathroom and:
Dining Lounge A spacious, well-proportioned reception room with radiator, digital central heating programmer, telephone point and TV point. There are two double-glazed windows on the north elevation and a further connecting six-panel door to the:
Breakfast Kitchen With a range of units finished in cream with contrasting doorknobs and comprising base cupboards and drawers, tall cupboard unit with shelving, wall cupboards and roll-edge, granite-effect work surfaces with ceramic-tiled splashbacks.
Stainless steel single drainer sink unit with lever mixer tap, space for under-counter refrigerator and freezer, recess with plumbing adjacent for washing machine or dishwasher and double-glazed window with blind on the south side. Wall-mounted Ideal gas-fired combination central heating boiler (approximately 2 years old) and smart meter display unit.
The electric cooker has been in place for some time but can be included in the sale if the purchaser wishes or if preferred, the owners will remove this prior to completion. Above the cooker recess there is a cooker hood with an inset light. Oak-effect vinyl floor covering, ceiling light, smoke alarm, radiator and an additional work surface section has been left to re-instate this, where it has been removed for an upright fridge/freezer to be positioned in the corner.
Bedroom 1 (front) A good size double bedroom with radiator, double-glazed window on the north elevation and high-level electricity consumer unit with MCBs.
Bedroom 2 (rear) A smaller double bedroom or good size single bedroom with radiator and double-glazed window on the south elevation.
Shower Room Fully refurbished with a white suite comprising a low-level, dual-flush WC, a Grohe bracket wash hand basin with a Roca lever mixer tap and a wide, splash-boarded shower cubicle with a chrome thermostatic shower mixer unit, handset and rail, a stepped, glazed screen and splash-boarded plinth to one side. Oak-effect vinyl floor covering, radiator, mirror-fronted wall cabinet and light-operated extractor fan. Two ceiling downlighter spotlights and double-glazed window with ceramic-tiled sill on the south side.
Outside The Forlander Place buildings are enclosed by lawned communal gardens which extend along the banks of the River Lud in part. There are spacious parking areas within which the property owner is able to park a single car.
Tenure A summary is provided below but a PDF copy lease document can be emailed on request when received from the sellers' solicitor. Leasehold - the property is held on a 950-year lease from 1st January 2001. The lease states that the rent payable is £30 p.a. for the first 33 years, £60 p.a. for the following 33 years and £90 for the remainder of the term. The rent is payable each year in advance on the 1st January.
There is a service charge payable on 1st January and 1st July each year and the annual cost is currently around £900 p.a. according to the sellers. The Landlord insures the buildings and keeps common parts of the structures including parking space, communal gardens, boundaries, shared hallways-staircases-landings etc. clean and illuminated as necessary.
No animals or birds are permitted in the apartments if these cause a nuisance to other apartment occupiers and no fouling of the communal gardens is permitted. The apartments are for residential occupation only with maintenance obligations on the leaseholder and no structural alterations are permitted. Windows are to be cleaned at least once per calendar month and floors should be covered in sound-deadening material.
Location Louth is a popular market town with three busy markets each week, many individual shops, highly regarded primary, secondary and grammar schools/academies. There are many cafes, bars and restaurants. Grimsby is approximately 16 miles to the north whilst Lincoln is some 25 miles to the south-west.
Louth has a modern sports and swimming complex, many local clubs, athletics and football/cricket grounds, tennis academy and courts, golf and bowling with attractive parks in Hubbard's Hills and Westgate Fields. The town has a thriving theatre and a cinema. The coast is about 10 miles away from Louth at its nearest point and the area around Louth has many fine country walks and bridleways.
General Information The particulars of this property are intended to give a fair and substantially correct overall description for the guidance of intending purchasers. No responsibility is to be assumed for individual items. No appliances have been tested. Fixtures, fittings, carpets and curtains are excluded unless otherwise stated. Plans/Maps are not to specific scale, are based on information supplied and subject to verification by a solicitor at sale stage. We are advised that the property is connected to mains gas, electricity, water and drainage but no utility searches have been carried out to confirm at this stage. The property is in Council Tax band A.
Viewing Strictly by prior appointment through the selling agent.
Similar Properties
Like this property? Maybe you'll like these ones close by too.