4 Bed Terraced House, Refurb/BRRR, Grimsby, DN32 9JB, £65,000

24 Welholme Road, Grimsby, North East Lincolnshire, DN32 9JB - 6 months ago

Sold STC
Refurb/BRRR
ROI: 6%
~89 m²
+7 photos

ValuationUndervalued

Sold Prices£76K - £467.5K
Sold Prices/m²£731/m² - £2.5K/m²

 

 

Square Metres

~89.28 m²
Price/m²£728/m²

Value Estimate

£66,950
BMV3%

 

 

End Value (After Refurb)

£78,439

Uplift in Value

+21%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£16,250

Stamp Duty & Legal Fees

£4,450

Refurb Costs

£35,918

Bridging Loan Interest

£1,706

Total Cash In

£60,075

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£78,439

Mortgage (After Refinance)

£58,829

Mortgage LTV

75%

Cash Released

£10,079

Cash Left In

£49,996

Equity

£19,610

Rent Range

£515 - £3,900

Rent Estimate

£695

Running Costs/mo

£404

Cashflow/mo

£291

Cashflow/yr

£3,491

ROI

6%

Gross Yield

13%

Local Sold Prices

50 sold prices from £76K to £467.5K, average is £190K. £731/m² to £2.5K/m², average is £1.3K/m².

PriceDateDistanceAddressBeds 
£90K11/200.15 mi26, Granville Street, Grimsby, North East Lincolnshire DN32 9NS4
£97K02/210.21 mi185, Hainton Avenue, Grimsby, North East Lincolnshire DN32 9LD4
£104K04/210.22 mi282, Hainton Avenue, Grimsby, North East Lincolnshire DN32 9LS4
£157K09/210.22 mi290, Hainton Avenue, Grimsby, North East Lincolnshire DN32 9LS4
£115K02/230.23 mi77, Ladysmith Road, Grimsby, North East Lincolnshire DN32 9EQ4
£115K12/200.27 mi334, Hainton Avenue, Grimsby, North East Lincolnshire DN32 9LX4
£91K11/210.29 mi106, Heneage Road, Grimsby, North East Lincolnshire DN32 9JQ4
£76K02/210.3 mi23, Durban Road, Grimsby, North East Lincolnshire DN32 8BD4
£98K12/200.32 mi127, Welholme Road, Grimsby, Humberside DN32 0NQ4
£110K11/200.37 mi451, Weelsby Street, Grimsby, North East Lincolnshire DN32 8BE4
£117K09/210.41 mi52, Legsby Avenue, Grimsby, North East Lincolnshire DN32 0NE4
£180K04/210.42 mi129, Weelsby Road, Grimsby, North East Lincolnshire DN32 9RZ4
£270K02/230.42 mi161, Weelsby Road, Grimsby, North East Lincolnshire DN32 9RX4
£135K06/210.44 mi163, Farebrother Street, Grimsby, North East Lincolnshire DN32 0JP4
£170K12/200.44 mi148, Weelsby Road, Grimsby, North East Lincolnshire DN32 9RR4
£215K10/210.45 mi97, Weelsby Road, Grimsby, North East Lincolnshire DN32 0PX4
£215K10/210.45 mi97, Weelsby Road, Grimsby, North East Lincolnshire DN32 0PX4
£220K04/210.45 mi10, Brunel Close, Grimsby, North East Lincolnshire DN32 9FE4
£270K04/230.45 mi10, Brunel Close, Grimsby, North East Lincolnshire DN32 9FE4
£93K05/230.47 mi37, Ainslie Street, Grimsby, North East Lincolnshire DN32 0LY4
£219K04/210.48 mi2, Haigh Court, Grimsby, North East Lincolnshire DN32 9FD4
£104K11/200.49 mi184, Legsby Avenue, Grimsby, North East Lincolnshire DN32 0LB4
£269.9K05/230.5 mi1, Lea Drive, Grimsby, North East Lincolnshire DN32 9FB4
£178K03/210.5 mi31, St Augustine Avenue, Grimsby, North East Lincolnshire DN32 0LD4
£85K11/210.53 mi246, Stanley Street, Grimsby, North East Lincolnshire DN32 8BS4
£290K10/220.53 mi77, Weelsby Road, Grimsby, North East Lincolnshire DN32 0PY4
£250K03/210.55 mi14, Lambert Road, Grimsby, North East Lincolnshire DN32 0HT4
£225K06/210.55 mi18, Lambert Road, Grimsby, North East Lincolnshire DN32 0HT4
£142K12/220.57 mi4, Silvergarth, Grimsby, North East Lincolnshire DN32 8QR4
£305K06/210.57 mi86, Weelsby Road, Grimsby, North East Lincolnshire DN32 0PS4
£100K04/230.58 mi167, Roberts Street, Grimsby, North East Lincolnshire DN32 8BU4
£235K07/210.59 mi57, Weelsby Road, Grimsby, North East Lincolnshire DN32 0PZ4
£250K08/230.59 mi4, Goldgarth, Grimsby, North East Lincolnshire DN32 8QS4
£135K12/200.59 mi9, Abbey Drive East, Grimsby, North East Lincolnshire DN32 0HD4
£345K09/230.65 mi22, Portland Avenue, Grimsby, North East Lincolnshire DN32 0AA4
£149K09/210.69 mi19, Manor Avenue, Grimsby, North East Lincolnshire DN32 0QR4
£157.5K07/210.69 mi23, Manor Avenue, Grimsby, North East Lincolnshire DN32 0QR4
£178K06/230.69 mi5, Manor Avenue, Grimsby, North East Lincolnshire DN32 0QR4
£406.2K05/230.69 mi17, Park Drive, Grimsby, North East Lincolnshire DN32 0EF4
£200K11/220.69 mi52, Thirkleby Crescent, Grimsby, North East Lincolnshire DN32 8PZ4
£257K02/220.7 mi17, Church Lane, Old Clee, Grimsby, North East Lincolnshire DN32 8NB4
£101K12/200.71 mi1, Queen Mary Avenue, Cleethorpes, North East Lincolnshire DN35 7SW4
£209.9K07/230.72 mi14, Welholme Road, Grimsby, North East Lincolnshire DN32 0DU4
£370K03/210.73 mi13, Thirkleby Crescent, Grimsby, North East Lincolnshire DN32 8PY4
£265K11/200.73 mi60, Park Avenue, Grimsby, North East Lincolnshire DN32 0DQ4
£405K05/210.73 mi51, Welholme Avenue, Grimsby, North East Lincolnshire DN32 0DZ4
£467.5K07/220.73 mi45, Welholme Avenue, Grimsby, North East Lincolnshire DN32 0DZ4
£425K08/230.73 mi53, Welholme Avenue, Grimsby, North East Lincolnshire DN32 0DZ4
£422K12/220.75 mi8, Bargate Avenue, Grimsby, North East Lincolnshire DN32 0ED4
£388.5K06/220.75 mi6, Cumberland Avenue, Grimsby, North East Lincolnshire DN32 0BT4

Local Rents

51 rents from £515/mo to £3.9K/mo, average is £630/mo.

RentDateDistanceAddressBeds 
£60004/250.02 mi-3
£55003/240.1 miHeneage Road,Grimsby3
£67504/250.1 mi-3
£60012/230.1 mi-3
£62504/240.1 mi-3
£59511/240.11 mi-3
£90010/240.11 mi-4
£65004/240.12 miGranville Street, Grimsby, Lincolnshire, DN323
£51503/240.12 miPatrick Street, Grimsby, North East Lincolnshire, DN323
£51503/240.12 miPatrick Street, Grimsby, North East Lincolnshire, DN323
£63005/240.13 mi-3
£63005/240.13 mi-3
£62501/240.15 mi-3
£67512/240.15 mi-3
£62512/240.16 mi-3
£55003/240.16 miDavid Street, Grimsby3
£98011/240.16 mi-4
£3,90007/230.16 mi-4
£62505/240.16 mi-3
£69504/250.17 mi-3
£60004/240.18 miPatrick Street, Grimsby3
£1,97004/250.18 mi-3
£65004/240.18 miPatrick Street, Grimsby, South Humberside, DN323
£1,97003/250.18 mi-3
£69502/250.19 mi-3
£65011/240.21 mi-3
£67504/250.21 mi-3
£55007/230.21 mi-3
£59503/240.22 miDavid Street, Grimsby3
£53503/240.22 miConvamore Road, Grimsby!3
£62505/240.22 mi-3
£65004/240.23 mi-3
£57504/240.23 miConvamore Road, Grimsby, North East Lincolnshire, DN323
£70007/240.23 mi-3
£55003/240.24 miWelholme Road, Grimsby, DN32 9LW3
£75003/240.24 miRobert Pearson Mews,Grimsby3
£55003/240.24 miDonnington Street, Grimsby, Grimsby3
£55003/240.25 miWillingham Street, Grimsby3
£55003/240.25 miWillingham Road3
£53001/240.25 mi-3
£67507/240.26 mi-3
£60004/250.26 mi-3
£65010/240.27 mi-3
£69503/250.28 mi-3
£67504/250.28 mi-3
£1,00010/230.29 mi-5
£65004/240.3 miDurban Road, Grimsby, DN323
£60004/240.3 miDurban Road, Grimsby3
£59510/230.3 mi-3
£75012/230.31 mi-3
£75005/240.31 mi-3

Local Area Statistics

Population in DN32

29,050

Population in Grimsby

124,581

Town centre distance

0.94 miles away

Nearest school

0.10 miles away

Nearest train station

0.70 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+14%

Sales demand

Balanced market

Capital growth (5yrs)

+13%

Property History

Price changed to £65,000

January 7, 2025

Listed for £70,000

November 1, 2024

Floor Plans

Description

  • Spacious 4-bedroom mid-terrace with potential for modernisation. +
  • Ground floor includes a bay-windowed lounge, second sitting/dining room, kitchen, and bathroom. +
  • First floor offers two double and two single bedrooms, ideal for families. +
  • Small front yard and rear garden with room for customization. +
  • Prime location: 2-minute walk to Welholme Academy, 10-minute walk to Peoples Park, and 15-minute walk to Grimsby town centre. +
  • Great investment potential with estimated rental income of £8,340 annually after updates. +

Located on Welholme Road in Grimsby, this spacious mid-terrace house offers a versatile layout perfect for a growing family or savvy investors.

On the ground floor, a traditional bay-windowed lounge provides a cosy family space at the front, complemented by a second sitting or dining room at the rear. The kitchen and bathroom are also located on this level, offering a practical flow for daily living. Upstairs, the first floor presents four separate bedrooms—two doubles and two singles—ideal for large families or shared accommodation setups.

The property boasts a small front yard and a rear garden, offering outdoor potential with room for landscaping or a simple green retreat. Situated just a 2-minute walk from Welholme Academy (KS1), and within close proximity to KS2 and further education facilities, the property offers excellent access to local schools. Peoples Park is a pleasant 10-minute stroll away, and Grimsby town centre can be reached in a 15-minute walk or a quick 5-minute drive, adding to the property’s convenient location. A local shop is also just steps away for everyday essentials.

This property would suit families or couples looking to put their personal stamp on a home or investors seeking to enhance their portfolio, with an anticipated rental income of approximately £8,340 per year after necessary updates and compliance with current legislation.
Please note there is on street parking close by and the property has limited mobile coverage.

Agent Details

DDM Residential, Grimsby

01472 404591

Next Steps?

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