2 Bed Flat, Single Let, Grimsby, DN31 1TN, £69,950

1 Freshney Drive, Grimsby, DN31 1TN - 5 months ago

Leasehold
BTL
ROI: 9%
50 m²
+11 photos

ValuationUndervalued











Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£17,488

Stamp Duty & Legal Fees

£4,698

Total Cash In

£22,185

 

 

Cash Out

 

Rent Range

£450 - £950

Rent Estimate

£500

Running Costs/mo

£339

Cashflow/mo

£161

Cashflow/yr

£1,932

ROI

9%

Gross Yield

9%













Local Rents

50 rents from £450/mo to £950/mo, average is £595/mo.

RentDateDistanceAddressBeds 
£84004/240.09 miMacaulay Park, Grimsby, DN312
£84003/240.09 miDane Park, Hull, HU62
£59504/240.14 miWaterside Drive, Grimsby, Lincolnshire, DN312
£53503/240.18 mi-2
£53503/240.18 mi-2
£65004/240.19 miWaterside Drive, Grimsby2
£56411/240.22 mi-2
£65003/250.24 mi-2
£48503/240.24 miDover Street, Grimsby2
£57503/240.25 miJoseph Street, Grimsby, Lincolnshire, DN312
£55003/240.26 miSaunders Street, Grimsby, Lincolnshire, DN312
£60003/240.27 miBoulevard Avenue, Grimsby2
£52503/240.27 miHaycroft Street, Grimsby, Lincolnshire, DN312
£50003/250.27 mi-2
£58001/240.28 mi-2
£59510/240.28 mi-2
£45002/250.28 mi-2
£57504/240.29 miRipon Street, Grimsby, Lincolnshire, DN312
£49003/240.3 miHaycroft Avenue, Grimsby2
£49503/240.3 miRipon Street, Grimsby2
£65001/240.31 mi-2
£65001/240.31 mi-2
£85004/240.33 miMacaulay Park, Grimsby, DN312
£85004/240.33 miMacaulay Park, Grimsby, DN312
£55005/240.38 miMacaulay Street, Grimsby2
£62503/240.39 miLister Street, Grimsby2
£55003/240.39 miMacaulay Street, Grimsby, DN312
£55003/240.39 miHaycroft Avenue, Grimsby2
£50003/240.41 mi-2
£59503/240.42 miVictoria Wharf, Grimsby, DN312
£67503/240.43 miBramble Close, Grimsby2
£62503/240.43 miMacaulay Street, Grimsby, Lincolnshire, DN312
£52508/240.43 mi-2
£55002/250.43 mi-2
£59503/240.44 miVictoria Court,Grimsby2
£45003/240.48 miQueens Parade, Grimsby, DN312
£45003/240.52 miLynton Parade, Grimsby2
£52011/240.54 mi-2
£95004/240.58 miPelham Road, Grimsby, DN342
£60003/240.58 miLittle Michael Street, Grimsby2
£65006/240.6 mi-2
£64512/230.6 mi-2
£55003/240.6 miWellowgate Mews, Grimsby2
£62504/240.61 miPelham Road, Grimsby, North East Lincolnshire, DN342
£69503/240.61 miPelham Road, Grimsby, NE Lincolnshire, DN342
£75003/240.61 miPelham Road, Grimsby2
£75002/250.62 mi-2
£75003/250.62 mi-2
£75003/250.62 mi-2
£75003/250.62 mi-2

Local Area Statistics

Population in DN31

9,598

Population in Grimsby

124,581

Town centre distance

0.93 miles away

Nearest school

0.20 miles away

Nearest train station

0.53 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

-4%

Sales demand

Balanced market

Capital growth (5yrs)

+23%

Property History

Listed for £69,950

October 4, 2024

Floor Plans

Description

  • VIDEO VIEWING AVAILABLE +
  • Stunning ground floor apartment with modern kitchen and exceptional shower room. +
  • Sold with the benefit of an extended lease. +
  • Tenant in place, residing for many years and wishing to remain. +
  • New tenancy agreement upon sale, ensuring steady rental income. +
  • Includes a garage and lovely gardens. +
  • Currently let at £500 per month, offering an 8.58% investment yield. +
  • Popular location, making it a highly desirable investment. +
  • Fantastic opportunity for a secure and profitable property with a reliable tenant in place. +

Presenting a stunning ground floor apartment featuring a gorgeous modern kitchen and an exceptional shower room. This property is sold with the benefit of an extended lease and comes with a tenant in occupation, who has resided in the property for many years and wishes to remain. A new tenancy agreement will be granted to the tenant upon sale, ensuring a steady income stream for any prospective landlord investor.
In addition to the attractive interiors, this apartment includes a garage, lovely gardens, and is currently let at £500 per month, offering a lucrative investment yield of 8.58%. With its popular location and desirable features, this property presents a fantastic opportunity for those seeking a secure investment with a reliable tenant already in place. Contact us now to seize this chance to own a profitable property with a guaranteed rental income.

Agent Details

Jackson Green and Preston, Grimsby

01472 404357

Next Steps?

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