2 Bed Bungalow, Refurb/BRRR, Cleethorpes, DN35 9EH, £165,000

Terrington Place, Cleethorpes, N.E. Lincs, DN35 9EH - 1 views - 6 months ago

Refurb/BRRR
ROI: 2%
~68 m²
+4 photos

ValuationOvervalued











Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£41,250

Stamp Duty & Legal Fees

£9,450

Refurb Costs

£27,513

Bridging Loan Interest

£4,331

Total Cash In

£84,294

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£147,250

Mortgage (After Refinance)

£110,438

Mortgage LTV

75%

Cash Left In

£84,294

Equity

£36,813

Rent Range

£525 - £1,800

Rent Estimate

£746

Running Costs/mo

£629

Cashflow/mo

£117

Cashflow/yr

£1,400

ROI

2%

Gross Yield

5%

Local Sold Prices

50 sold prices from £40K to £279.5K, average is £130K. £488/m² to £3.1K/m², average is £1.7K/m².

PriceDateDistanceAddressBeds 
£140K09/210.04 mi16, Warwick Road, Cleethorpes, North East Lincolnshire DN35 9EX2
£40K06/210.13 mi105, Sandringham Road, Cleethorpes, North East Lincolnshire DN35 9DS2
£145K09/210.14 mi60, Warwick Road, Cleethorpes, North East Lincolnshire DN35 9ET2
£122K12/220.16 mi94, Penshurst Road, Cleethorpes, North East Lincolnshire DN35 9EN2
£130K06/210.16 mi46, Philip Grove, Cleethorpes, North East Lincolnshire DN35 9DH2
£163K08/230.19 mi3, Brian Avenue, Cleethorpes, North East Lincolnshire DN35 9BY2
£150K06/230.19 mi4, Halton Place, Cleethorpes, North East Lincolnshire DN35 9BU2
£157K10/220.19 mi20, Philip Avenue, Cleethorpes, North East Lincolnshire DN35 9DJ2
£194K04/230.27 mi13, Swaby Drive, Cleethorpes, North East Lincolnshire DN35 9PB2
£115K12/200.28 mi189, Sandringham Road, Cleethorpes, North East Lincolnshire DN35 9AB2
£150K08/210.3 mi75, Brian Avenue, Cleethorpes, North East Lincolnshire DN35 9DE2
£165K03/230.31 mi13, Lynton Rise, Cleethorpes, North East Lincolnshire DN35 9AW2
£195K08/230.35 mi71, Braemar Road, Cleethorpes, North East Lincolnshire DN35 9AT2
£155K10/200.35 mi30, Braemar Road, Cleethorpes, North East Lincolnshire DN35 9AT2
£97.5K03/230.43 mi7, School Walk, Cleethorpes, North East Lincolnshire DN35 9LQ2
£70K07/230.43 mi13, The Gatherums, Cleethorpes, North East Lincolnshire DN35 8ER2
£70K01/230.43 mi12, The Gatherums, Cleethorpes, North East Lincolnshire DN35 8ER2
£82.5K03/210.45 mi2, Clumber Place, Cleethorpes, North East Lincolnshire DN35 8PF2
£158K04/210.45 mi1, Albermarle Court, Cleethorpes, North East Lincolnshire DN35 8JF2
£150K01/210.45 mi2, Albermarle Court, Cleethorpes, North East Lincolnshire DN35 8JF2
£165K08/230.49 mi29a, Wendover Rise, Cleethorpes, North East Lincolnshire DN35 8TS2
£165K10/210.5 mi44, Clee Crescent, Grimsby, North East Lincolnshire DN32 8LS2
£279.5K12/220.5 mi24, Cattistock Road, Cleethorpes, North East Lincolnshire DN35 0RZ2
£200K09/210.5 mi50, Highthorpe Crescent, Cleethorpes, North East Lincolnshire DN35 9PY2
£86K06/230.51 mi8, Claymore Close, Cleethorpes, North East Lincolnshire DN35 8EN2
£74K03/210.54 mi110, Fairview Avenue, Cleethorpes, North East Lincolnshire DN35 8DQ2
£92K12/200.54 mi40, Fairview Avenue, Cleethorpes, Humberside DN35 8DQ2
£110K07/210.54 mi52, Fairview Avenue, Cleethorpes, North East Lincolnshire DN35 8DQ2
£265K03/220.54 mi28, St Andrews Drive, Grimsby, North East Lincolnshire DN32 8PS2
£118K05/210.57 mi28, William Street, Cleethorpes, North East Lincolnshire DN35 8PW2
£235K05/210.57 mi25, St Andrews Drive, Grimsby, North East Lincolnshire DN32 8PR2
£149.9K06/210.57 mi33, Parker Street, Cleethorpes, North East Lincolnshire DN35 8TH2
£145K03/210.59 mi18, Pine Walk, Cleethorpes, North East Lincolnshire DN35 8BP2
£226K06/210.6 mi31, Billinghay Court, Cleethorpes, North East Lincolnshire DN35 0JU2
£140K08/210.63 mi37, Kew Road, Cleethorpes, North East Lincolnshire DN35 8DD2
£116K04/230.63 mi12, Hey Street, Cleethorpes, North East Lincolnshire DN35 8TG2
£87.5K02/210.65 mi57, Bentley Street, Cleethorpes, North East Lincolnshire DN35 8DL2
£112.5K07/230.65 mi61, Bentley Street, Cleethorpes, North East Lincolnshire DN35 8DL2
£88K02/210.65 mi66, Bentley Street, Cleethorpes, North East Lincolnshire DN35 8DN2
£115K09/210.66 mi29, Glebe Road, Cleethorpes, North East Lincolnshire DN35 8DA2
£120K12/210.67 mi27, West Street, Cleethorpes, North East Lincolnshire DN35 8QA2
£162.5K09/230.69 mi38, Pearson Road, Cleethorpes, North East Lincolnshire DN35 0DT2
£103K11/200.7 mi19, Nicholson Street, Cleethorpes, Humberside DN35 8RW2
£108K02/210.7 mi12, Nicholson Street, Cleethorpes, North East Lincolnshire DN35 8RW2
£102K03/210.7 mi34, Nicholson Street, Cleethorpes, North East Lincolnshire DN35 8RW2
£98K05/210.7 mi4, Nicholson Street, Cleethorpes, North East Lincolnshire DN35 8RW2
£130K08/220.71 mi9b, Holyoake Road, Grimsby, North East Lincolnshire DN32 8JH2
£138K08/230.71 mi9, Holyoake Road, Grimsby, North East Lincolnshire DN32 8JH2
£120K08/210.71 mi10, Whites Road, Cleethorpes, North East Lincolnshire DN35 8RP2
£115K11/200.71 mi2, Howard Grove, Grimsby, North East Lincolnshire DN32 8JE2

Local Rents

11 rents from £525/mo to £1.8K/mo, average is £600/mo.

RentDateDistanceAddressBeds 
£57504/240.18 miBalmoral Road, Cleethorpes2
£58502/250.41 mi-2
£1,80003/240.47 miMill Road, Cleethorpes2
£52503/240.48 miMaegan Way, Cleethorpes2
£65003/250.49 mi-2
£53001/250.55 mi-2
£60005/240.55 miFairview Avenue, Cleethorpes2
£79505/240.58 miCottesmore Road, Cleethorpes2
£60003/240.58 miWilliam Street, Cleethorpes, DN35 8PT2
£75003/240.59 miPine Walk, Cleethorpes, DN35 8BP2
£80003/240.61 mi23 Pine Walk, Cleethorpes2

Property History

Listed for £165,000

October 5, 2024

Floor Plans

Description

  • OFFERED FOR SALE WITH NO CHAIN +
  • IN NEED OF UPDATING +
  • EXTENDED SEMI-DETACHED BUNGALOW +
  • LOUNGE +
  • KITCHEN +
  • BATHROOM +
  • TWO DOUBLE BEDROOMS +
  • GARDENS +
  • AMPLE OFF ROAD PARKING +
  • DOUBLE GLAZING +

Nestled in the charming Terrington Place of Cleethorpes, this extended semi-detached bungalow offers a wonderful opportunity for those seeking a cosy yet spacious abode. Boasting two bedrooms, a bathroom, and a generously sized lounge, this property is brimming with potential.

The ample off-road parking for up to four vehicles is a rare find in this area, ensuring convenience for both residents and guests. The gardens provide a tranquil outdoor space, perfect for relaxing or entertaining on sunny days.

Although in need of updating, this property presents a blank canvas for you to unleash your creativity and transform it into your dream home. With no chain involved, the process of making this bungalow your own is made even smoother.

Don't miss out on this fantastic opportunity to own a semi-detached bungalow in a desirable location. Book a viewing today and envision the endless possibilities that this property holds for you.

Entrance Hall - Through a u.PVC double glazed front door into the hall where doors to all rooms lead off. A u.PVC double glazed window, a built in cupboard, a central heating radiator, a light and loft access to the ceiling.

Bedroom 2 - 2.87m x 3.51m (9'5 x 11'6) - This double bedroom to the front of the property with a u.PVC double glazed window, a central heating radiator, a light and coving to the ceiling.

Lounge - 6.38m x 2.90m (20'11 x 9'6) - The spacious lounge/diner is to the front of the property with two u.PVC double glazed windows, two central heating radiators, two lights and coving to the ceiling.

Lounge -

Bedroom 1 - 3.53m x 3.20m (11'7 x 10'6) - Another double bedroom with a u.PVC double glazed window, a central heating radiator, a light and coving to the ceiling.

Kitchen - 3.51m x 2.82m (11'6 x 9'3) - With a range of cream base units, contrasting work surfaces and tiled reveals, a cream sink unit with a cream mixer tap. There is plumbing for a washing machine, space for a cooker and the central heating boiler is here. Three u.PVC double glazed windows, a u.PVC double glazed door, a central heating radiator, vinyl to the floor and a light to the ceiling.

Kitchen -

Bathroom - 1.70m x 1.93m (5'7 x 6'4) - The bathroom with a white suite comprising of a panelled bath with chrome taps, an Aqualisa shower and a folding shower screen, a pedestal wash hand basin with chrome taps and a WC with a central chrome flush. A u.PVC double glazed window, part tiled walls, a central heating radiator, a built in airing cupboard, vinyl to the floor and a light to the ceiling.

Bathroom -

Outside - The front garden has a walled and fenced boundary and is laid to lawn with established borders. There is a gravelled hard standing and a drive providing off road parking.
The side and rear garden has a walled and fenced boundary and is laid to lawn with established borders. There is a concrete hard standing and a concrete pathway around the property and a ramp to the front door. There is also a timber shed.

Outside -

Agent Details

BMH, Cleethorpes

01472 404377

Next Steps?

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