5 Bed HMO, Cleethorpes, DN35 7RN £110,000

521E93 Brereton Avenue, Cleethorpes, DN35 7RN - a year ago
Sold STC
HMO
Outside Article 4
ROI: 28%
93 m²
Property image

ValuationUndervalued

Sold Prices£105K - £600K
Sold Prices/m²£701/m² - £4.2K/m²

 

 

Square Metres

93 m²
Price/m²£1.2K/m²

Value Estimate

£132,856
BMV21%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£27,500

Stamp Duty & Legal Fees

£6,700

Total Cash In

£34,200

 

 

Cash Out

 

Room Rate

£415

Gross Rent

£2,075

Running Costs/mo

£1,280

Cashflow/mo

£795

Cashflow/yr

£9,545

ROI

28%

Gross Yield

23%

Local Sold Prices

26 sold prices from £105K to £600K, average is £322.5K. £701/m² to £4.2K/m², average is £1.5K/m².

Price
Date
Distance
Address
Beds
 
£115K09/230.27 mi53, Harrington Street, Cleethorpes, North East Lincolnshire DN35 7BD5
£105K09/230.27 mi57, Harrington Street, Cleethorpes, North East Lincolnshire DN35 7BD5
£145K03/231.04 mi53, Hare Street, Grimsby, North East Lincolnshire DN32 9LA5
£300K01/231.15 mi2, Elm Gardens, Cleethorpes, North East Lincolnshire DN35 8DB5
£110K06/211.2 mi71, Mill Road, Cleethorpes, North East Lincolnshire DN35 8JB5
£325K02/251.28 mi49, Hunsley Crescent, Grimsby DN32 8PU5
£315K09/211.44 mi6, Abbey Road, Grimsby, North East Lincolnshire DN32 0HQ5
£220.3K01/231.44 mi10, Blenheim Place, Cleethorpes, North East Lincolnshire DN35 9BG5
£450K03/231.46 mi23, Welholme Road, Grimsby, North East Lincolnshire DN32 0DR5
£480K12/241.47 mi39, Park Drive, Grimsby DN32 0EG5
£480K12/241.47 mi39, Park Drive, Grimsby DN32 0EG5
£330K05/211.52 mi39, Abbey Park Road, Grimsby, North East Lincolnshire DN32 0HS5
£395K06/211.53 mi74, Weelsby Road, Grimsby, North East Lincolnshire DN32 0PS5
£530K08/241.58 mi3, Park Drive, Grimsby DN32 0EE5
£530K08/241.58 mi3, Park Drive, Grimsby DN32 0EE5
£600K07/221.59 mi8, Park Drive, Grimsby, North East Lincolnshire DN32 0EE5
£300K06/251.59 mi33, Weelsby Road, Grimsby DN32 0QA5
£150K10/241.61 mi7, Queens Parade, Grimsby DN31 2LE5
£150K10/241.61 mi7, Queens Parade, Grimsby DN31 2LE5
£290K04/251.65 mi42, Ashby Road, Cleethorpes DN35 9PQ5
£420K03/231.66 mi27, Weelsby Road, Grimsby, North East Lincolnshire DN32 0QA5
£382K03/231.69 mi75, Welholme Avenue, Grimsby, North East Lincolnshire DN32 0PL5
£325K12/221.77 mi181, Chichester Road, Cleethorpes, North East Lincolnshire DN35 0JN5
£268K09/231.9 mi2, Redwood Drive, Cleethorpes, North East Lincolnshire DN35 0RN5
£340K06/211.92 mi19, Eastwood Avenue, Grimsby, North East Lincolnshire DN34 5BE5
£320K10/211.99 mi4, Northumberland Close, Grimsby, North East Lincolnshire DN34 4TE5

Local Area Statistics

Population in DN35

34,526

Population in Cleethorpes

34,530

Town centre distance

1.38 miles away

Nearest school

0.20 miles away

Nearest train station

0.42 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+24%

Sales demand

Balanced market

Capital growth (5yrs)

+23%

Property History

Listed for £110,000

August 29, 2024

Floor Plans

Property image

Description

  • Ready-Made Investment +
  • Annual Rental Income Of £30k +
  • 5 Good Sized Bedrooms +
  • Gas Central Heating +
  • Part Of A Portfolio Of 4 HMO's +
  • Great Investment Opportunity +
  • Popular Cleethorpes Location +
  • Council Ta Band A +

Offered to the market For Sale with No Onward Chain is this traditional 5 bedroom HMO property. Being sold together as part of a portfolio of 4 properties and currently partly tenanted with an annual rental income of approximately £30k.
The location is fantastic with this property as there are a number of amenities within walking distance and Cleethorpes Sea Front is just 10 minutes away.
The main accommodation on offer briefly comprises: entrance hallway, spacious living area with dining table & chairs, fitted kitchen with array of units and appliances and downstairs W.C.
The first floor also comes with five good sized bedrooms, which are all doubles and fitted bathroom with shower over the bath.
Externally, the property is designed with secured gardens to the front and rear. The rear is mainly laid with grass and 6 ft fencing. Must view to appreciate the sheer size of the property.

Entrance Hallway -

Bedroom 1 - 3.63m x 3.51m (11'11 x 11'6) -

Bedroom 2 - 4.06m x 2.90m (13'4 x 9'6) -

Lounge - 4.85m x 2.72m (15'11 x 8'11) -

Kitchen - 3.48m x 2.90m (11'5 x 9'6) -

W.C - 1.55m x 1.12m (5'1 x 3'8) -

Landing -

Bedroom 3 - 2.72m x 2.64m (8'11 x 8'8) -

Bedroom 4 - 4.06m x 2.92m (13'4 x 9'7) -

Bedroom 5 - 4.65m x 3.66m (15'3 x 12'0) -

Bathroom - 1.98m x 1.73m (6'6 x 5'8) -

Garden -

Agent Details

Farrow Estate Agents, Grimsby

01472 907517

Next Steps?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪