3 Bed Bungalow, Refurb/BRRR, Louth, LN11 8ET, £245,000

3 Albany Road, Louth, Lincolnshire, LN11 8ET - 8 months ago

Sold STC
Refurb/BRRR
80 m²
+13 photos

ValuationOvervalued

Sold Prices£120K - £335K
Sold Prices/m²£1.5K/m² - £3.4K/m²

 

 

Square Metres

80 m²
Price/m²£3.1K/m²

Value Estimate

£171,826

 

 

End Value (After Refurb)

£231,500

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£61,250

Stamp Duty & Legal Fees

£8,550

Refurb Costs

£32,431

Bridging Loan Interest

£6,431

Total Cash In

£110,413

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£231,500

Mortgage (After Refinance)

£173,625

Mortgage LTV

75%

Cash Left In

£110,413

Equity

£57,875

Rent Range

£750 - £1,100

Rent Estimate

£867

Running Costs/mo

£917

Cashflow/mo

£-50

Cashflow/yr

£-598

Gross Yield

4%

Local Sold Prices

50 sold prices from £120K to £335K, average is £187K. £1.5K/m² to £3.4K/m², average is £2.3K/m².

PriceDateDistanceAddressBeds 
£187K03/230.05 mi17, Kenwick Road, Louth, Lincolnshire LN11 8EH3
£187K05/230.07 mi5, Florence Wright Avenue, Louth, Lincolnshire LN11 8EJ3
£230K12/220.16 mi77, Kenwick Road, Louth, Lincolnshire LN11 8EL3
£180K04/230.17 mi1, Alder Close, Louth, Lincolnshire LN11 8XB3
£265K11/230.18 mi8, Legbourne Road, Louth, Lincolnshire LN11 8ER3
£225K05/230.18 mi73, Kenwick Road, Louth, Lincolnshire LN11 8EL3
£190K02/240.18 mi63, Kenwick Road, Louth, Lincolnshire LN11 8EL3
£228.5K01/210.18 mi89, Kenwick Road, Louth, Lincolnshire LN11 8EL3
£255K12/200.18 mi3, Beck Way, Louth, Lincolnshire LN11 8XH3
£250K10/220.18 mi20, Eresbie Road, Louth, Lincolnshire LN11 8YG3
£165K10/200.19 mi19, Southlands Avenue, Louth, Lincolnshire LN11 8EW3
£219.9K11/220.19 mi24, Southlands Avenue, Louth, Lincolnshire LN11 8EW3
£244K06/230.21 mi3a, Stewton Lane, Louth, Lincolnshire LN11 8RZ3
£160K06/210.21 mi43, Legbourne Road, Louth, Lincolnshire LN11 8ES3
£232K08/210.21 mi39, Legbourne Road, Louth, Lincolnshire LN11 8ES3
£219.9K03/210.23 mi33, Seymour Avenue, Louth, Lincolnshire LN11 9EW3
£169.5K02/210.24 mi13, Southfield Drive, Louth, Lincolnshire LN11 9ED3
£230K12/200.24 mi12, Southfield Drive, Louth, Lincolnshire LN11 9ED3
£189.9K10/220.24 mi13, Southfield Drive, Louth, Lincolnshire LN11 9ED3
£185K06/230.24 mi8, Queens Court, Louth, Lincolnshire LN11 8RR3
£155K11/200.28 mi40, Alexander Drive, Louth, Lincolnshire LN11 8QG3
£145K06/210.28 mi32, Alexander Drive, Louth, Lincolnshire LN11 8QG3
£153K04/210.28 mi42, Alexander Drive, Louth, Lincolnshire LN11 8QG3
£165K07/230.28 mi28, Alexander Drive, Louth, Lincolnshire LN11 8QG3
£150K06/230.28 mi32, Alexander Drive, Louth, Lincolnshire LN11 8QG3
£160K04/230.28 mi38, Alexander Drive, Louth, Lincolnshire LN11 8QG3
£255K04/210.28 mi32, Wood Lane, Louth, Lincolnshire LN11 8SA3
£150K11/210.29 mi15, Adrian Close, Louth, Lincolnshire LN11 9EP3
£260K01/210.3 mi1, Burton Court, Louth, Lincolnshire LN11 8RJ3
£270K03/230.3 mi12, Stutte Close, Louth, Lincolnshire LN11 8YN3
£160K05/230.33 mi49, Watts Lane, Louth, Lincolnshire LN11 9DG3
£210K10/230.36 mi6, Oak Close, Louth, Lincolnshire LN11 8SQ3
£150K03/230.37 mi72, Mount Pleasant Avenue, Louth, Lincolnshire LN11 9DJ3
£188.5K06/210.37 mi15, Hazel Grove, Louth, Lincolnshire LN11 8RU3
£225K04/210.39 mi11, Pippin Close, Louth, Lincolnshire LN11 9FF3
£216K02/240.4 mi5, Spire View Road, Louth, Lincolnshire LN11 8SL3
£150K05/210.4 mi52, Spire View Road, Louth, Lincolnshire LN11 8SL3
£160K12/200.4 mi61, Spire View Road, Louth, Lincolnshire LN11 8SL3
£335K12/220.4 mi4, Pippin Close, Louth, Lincolnshire LN11 9FF3
£180K02/230.4 mi55, Mount Pleasant Avenue, Louth, Lincolnshire LN11 9DH3
£168K05/210.42 mi7, Sycamore Drive, Louth, Lincolnshire LN11 8RT3
£148.5K02/210.42 mi8, Sycamore Drive, Louth, Lincolnshire LN11 8RT3
£239K10/210.44 mi1, Laburnum Crescent, Louth, Lincolnshire LN11 8SG3
£149K11/210.44 mi24, Newmarket, Louth, Lincolnshire LN11 9EQ3
£227K03/210.49 mi35, Mount Pleasant, Louth, Lincolnshire LN11 9DW3
£245K05/210.49 miCemetery Lodge, Upgate, Louth, Lincolnshire LN11 9QW3
£182.5K12/230.52 mi26, St Michaels Road, Louth, Lincolnshire LN11 9DA3
£120K12/200.6 mi9, The Link, Louth, Lincolnshire LN11 8BA3
£181K03/240.6 mi79, Upgate, Louth, Lincolnshire LN11 9HF3
£133K12/200.61 mi18, Virginia Drive, Louth, Lincolnshire LN11 8BD3

Local Rents

19 rents from £750/mo to £1.1K/mo, average is £850/mo.

RentDateDistanceAddressBeds 
£92512/240.08 miPasture Drive, Louth3
£85005/240.25 miSeymour Avenue, Louth3
£85005/240.31 miBuddlela Drive, Alexander Park, Louth3
£92505/240.34 miLavender Way, Louth3
£90012/240.34 mi-3
£75005/240.67 miPriory Road, Louth3
£75005/240.77 miRamsgate, Louth3
£1,10005/240.78 miHorncastle Road, Louth3
£85005/240.79 mi-3
£85006/240.79 miBroadley Crescent, Louth, LN113
£85005/240.82 miGospelgate, Louth3
£79505/240.82 miGospelgate, Louth3
£75005/240.85 miSt. Bernards Avenue, Louth3
£75006/240.85 miSt. Bernards Avenue, Louth3
£75005/240.85 miNichol Hill, Louth, LN113
£87505/240.85 miOld Chapel Mews, Louth, LN113
£1,10005/241.05 miHigh Holme Road, Louth3
£1,00006/241.13 miSt. Marys Lane, Louth3
£85005/241.24 mi-3

Local Area Statistics

Population in LN11

28,179

Population in Louth

28,197

Town centre distance

0.95 miles away

Nearest school

0.50 miles away

Nearest train station

14.19 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+12%

Sales demand

Buyer's market

Capital growth (5yrs)

+9%

Property History

Listed for £245,000

August 9, 2024

Sold for £237,500

2019

Sold for £162,500

2009

Sold for £65,000

1998

Floor Plans

Description

  • No Onward Chain +
  • Detached Bungalow +
  • In need of some Modernisation Throughout +
  • Walking Distance to Town +
  • Three Bedrooms +
  • Breakfast Kitchen +
  • Sizeable Lounge +
  • Shower Room +
  • Front & Rear Gardens +
  • Driveway & Garage +

*No Onward Chain*

TES Property is delighted to bring to the market this three bedroom detached bungalow located in the market town of Louth, close to shops and amenities.
Internally consisting of a breakfast kitchen, lounge, three bedrooms and three piece suite shower room.
Externally the property benefits from a front and rear garden with single detached garage and off road parking.

Location - Louth - The historic market town of Louth; fondly known as the 'Capital of the Wolds' and beautifully positioned in an Area of Outstanding Natural Beauty is approximately 15 miles from the coast, 16 miles from Grimsby and 30 miles from Lincoln.
It has a wealth of local services and amenities to offer. Popular points of interest include the 'people's park' of Hubbard Hills and Westgate Fields, the last remaining Lincolnshire Cattle Market and the spectacular St James' Church, boasting the tallest medieval parish church spire of approx 287 feet /87.6 m. Other features include Louth Golf Course and Kenwick Park Golf Course, Louth Tennis Centre, London Road Sports Pavilion, Riverhead Theatre, Playhouse Cinema, Louth Museum, Kenwick Park Gym and Spa and Meridian Leisure Centre. As well as excellent local schools including King Edward's VI Grammar School, a doctors surgery and a hospital. Louth is particularly well known for its vast array of independent shops, butchers and delicatessens, thrice weekly markets and the New Market Indoor Hall all offering outstanding local produce as well as three supermarkets; Morrisons, Co-Op and Aldi.

Entrance Porch - 1.42m x 0.94m (4'7" x 3'1" ) - Enter the property via a uPVC front door with privacy glass window to the side. An inner door leads into the hallway.

Hallway - With access to all rooms, coving to the ceiling, smoke alarm, loft access hatch, radiator and airing cupboard which houses the hot water cylinder and is fitted with shelving.

Lounge - 6.06m x 4.02m (max) (19'10" x 13'2" (max) ) - With two radiators, coving to the ceiling, uPVC sliding patio door to the rear, uPVC double glazed bay window to the front, feature fireplace, T.V aerial point and wall lighting.

Breakfast Kitchen - 3.59m x 2.84m (11'9" x 9'3" ) - Fitted with a range of wall, base and drawer units with worktop over with tiled splashbacks, one bowl stainless steel sink unit with drainer and mixer tap, integrated 'Stoves' oven and grill with four ring gas hob and extractor above, wall mounted gas boiler, fitted breakfast bar, uPVC double glazed window and door to the rear, coving to the ceiling and a radiator.

Bedroom 1 - 3.64m x 3.08m (11'11" x 10'1" ) - Double bedroom with uPVC double glazed window to the front, consumer unit, coving to the ceiling and a radiator.

Bedroom 2 - 2.88m x 3.64m (9'5" x 11'11" ) - Double bedroom with uPVC double glazed window to the rear, coving to the ceiling and a radiator.

Bedroom 3 - 3.31m x 2.14m (10'10" x 7'0" ) - Single bedroom with uPVC double glazed window to the front, coving to the ceiling and a radiator.

Shower Room - 1.92m x 2.1m (6'3" x 6'10" ) - Fitted with a three piece suite consisting of a walk in shower with glass shower screen, W.C and wash hand basin in vanity unit with storage cupboards, tiled splashbacks, uPVC double glazed privacy glass window to the rear, coving to the ceiling, extractor and a radiator.

Garage - 6.12m x 3.05m (20'0" x 10'0" ) - Single garage with up and over door, uPVC double glazed window to the side, power, lighting and door to the side.

Outside - The rear garden is fully enclosed with wooden fencing to the boundary and a personnel gate leading to the front and a door into the garage. Further featuring several patio areas throughout the garden and mature shrubs and bushes adding extra privacy with an additional area laid to lawn. There is an outside tap, raised brick planters and an area laid with gravel.

To the front of the property there is a block paved driveway providing off road parking and leads to the single garage. To the side is a gravelled area which is fronted with a dwarf brick wall with mature shrubs and plants.

Services - Mains water, gas, drainage and electricity are understood to be connected. The agents have not tested or inspected the services or service installations and buyers should rely on their own survey.

Tenure - The property is believed to be freehold and we await solicitors confirmation.

Council Tax Band - East Lindsey Council Tax Band C

Viewings - By prior appointment through TES Property office in Louth admin.

Opening Hours - Monday to Friday 9:00am to 5:00pm
Saturday 9:00am to 1:00pm

Agent Details

TES Property (Lincolnshire) Limited, Louth

01507 304807

Next Steps?

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