5 Bed HMO, Grimsby, DN32 9NT, £105,000

511D57 Patrick Street, Grimsby, DN32 9NT - 27 views - 4 months ago

Sold STC
HMO
ROI: 28%
102 m²
+21 photos

ValuationUndervalued

Sold Prices£90K - £600K
Sold Prices/m²£701/m² - £4.2K/m²

 

 

Square Metres

102.44 m²
Price/m²£1K/m²

Value Estimate

£127,050
BMV21%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£26,250

Stamp Duty & Legal Fees

£4,350

Total Cash In

£30,600

 

 

Cash Out

 

Room Rate

£390

Gross Rent

£1,950

Running Costs/mo

£1,235

Cashflow/mo

£715

Cashflow/yr

£8,581

ROI

28%

Gross Yield

22%

Local Sold Prices

30 sold prices from £90K to £600K, average is £297.5K. £701/m² to £4.2K/m², average is £1.5K/m².

PriceDateDistanceAddressBeds 
£128K03/210.1 mi358, Hainton Avenue, Grimsby, North East Lincolnshire DN32 9LX5
£145K03/230.16 mi53, Hare Street, Grimsby, North East Lincolnshire DN32 9LA5
£280K03/210.38 mi29, Park Drive, Grimsby, North East Lincolnshire DN32 0EG5
£395K06/210.42 mi74, Weelsby Road, Grimsby, North East Lincolnshire DN32 0PS5
£450K03/230.45 mi23, Welholme Road, Grimsby, North East Lincolnshire DN32 0DR5
£330K05/210.53 mi39, Abbey Park Road, Grimsby, North East Lincolnshire DN32 0HS5
£600K07/220.55 mi8, Park Drive, Grimsby, North East Lincolnshire DN32 0EE5
£420K03/230.56 mi27, Weelsby Road, Grimsby, North East Lincolnshire DN32 0QA5
£90K02/210.58 mi40, Heneage Road, Grimsby, North East Lincolnshire DN32 9ES5
£315K09/210.59 mi6, Abbey Road, Grimsby, North East Lincolnshire DN32 0HQ5
£382K03/230.61 mi75, Welholme Avenue, Grimsby, North East Lincolnshire DN32 0PL5
£340K06/210.81 mi19, Eastwood Avenue, Grimsby, North East Lincolnshire DN34 5BE5
£350K03/210.82 mi18, Pelham Road, Grimsby, North East Lincolnshire DN34 4SU5
£220K12/200.89 mi12, Princes Avenue, Grimsby, North East Lincolnshire DN31 2AA5
£239.9K06/210.98 mi34, St Helens Avenue, Grimsby, North East Lincolnshire DN33 2AH5
£320K10/211.03 mi4, Northumberland Close, Grimsby, North East Lincolnshire DN34 4TE5
£245K09/211.12 mi30, Cragston Avenue, Grimsby, North East Lincolnshire DN33 2AU5
£295K11/201.15 mi23, Edge Avenue, Grimsby, North East Lincolnshire DN33 2DD5
£115K09/231.37 mi53, Harrington Street, Cleethorpes, North East Lincolnshire DN35 7BD5
£105K09/231.37 mi57, Harrington Street, Cleethorpes, North East Lincolnshire DN35 7BD5
£355K03/211.45 mi72, St Giles Avenue, Grimsby, North East Lincolnshire DN33 2HD5
£357K08/231.47 mi21, St Giles Avenue, Grimsby, North East Lincolnshire DN33 2HA5
£249.5K09/211.56 mi17, Wren Crescent, Scartho Top, Grimsby, North East Lincolnshire DN33 3RA5
£238K04/211.63 mi4, Newmarch Court, Scartho Top, Grimsby, North East Lincolnshire DN33 3SL5
£110K06/211.64 mi71, Mill Road, Cleethorpes, North East Lincolnshire DN35 8JB5
£220.3K01/231.69 mi10, Blenheim Place, Cleethorpes, North East Lincolnshire DN35 9BG5
£300K01/231.71 mi2, Elm Gardens, Cleethorpes, North East Lincolnshire DN35 8DB5
£268K09/231.72 mi2, Redwood Drive, Cleethorpes, North East Lincolnshire DN35 0RN5
£345K08/231.9 mi245, Louth Road, Grimsby, North East Lincolnshire DN33 2JX5
£325K12/221.95 mi181, Chichester Road, Cleethorpes, North East Lincolnshire DN35 0JN5

Local Area Statistics

Population in DN32

29,050

Population in Grimsby

124,581

Town centre distance

0.82 miles away

Nearest school

0.20 miles away

Nearest train station

0.68 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+14%

Sales demand

Balanced market

Capital growth (5yrs)

+13%

Property History

Listed for £105,000

November 16, 2024

Sold for £75,000

2007

Sold for £47,000

2003

Sold for £34,000

2001

Sold for £15,500

2001

Floor Plans

Description

  • Ideal 5 bedroom HMO Investment +
  • Potential Annual Earnings Of £25k +
  • Property Ready For Its Licence Application +
  • Brand New Kitchen +
  • Fairly New Boiler +
  • Gas Central Heating +
  • 5 Good Sized Bedrooms +
  • Superb Investment Opportunity +
  • Prominent (DN32) Location +

Calling All Investors
Farrow Estate Agents are pleased to offer this converted 5 Bedroom HMO Property to the market with No Onward Chain. Having undergone moderate renovation works which included new kitchen and some new fire doors, the property is now complaint and ready for it's licence application.
Its sheer size makes it the ideal investment for first time investors or those looking to add to their portfolio.
The stylish accommodation briefly comprises: spacious entrance hallway, 2 decent sized double bedrooms, large reception room for relaxation, newly fitted kitchen and new appliances.
The first floor also offers three additional double bedrooms as well as a good sized bathroom with shower over the bath.
Externally, there is a low maintenance and enclosed rear garden which provides the perfect space for entertaining throughout the summer months.
With gas central heating and double glazing throughout.
The property is currently occupied with a tenant in one of the downstairs bedroom.
Viewing is highly recommended!!!

Entrance Hallway -

Bedroom 1 - 3.40 x 3.25 (11'1" x 10'7") -

Bedroom 2 - 3.65 x 2.70 (11'11" x 8'10") -

Living Area - 4.50 x 2.80 (14'9" x 9'2") -

Kitchen - 3.45 x 2.60 (11'3" x 8'6") -

First Floor Landing -

Bedroom 3 - 3.10 x 2.20 (10'2" x 7'2") -

Bedroom 4 - 3.70 x 3.25 (12'1" x 10'7") -

Bedroom 5 - 4.80 x 3.25 (15'8" x 10'7") -

Bathroom - 2.80 x 1.40 (9'2" x 4'7") -

Garden -

Agent Details

Farrow Estate Agent Ltd, Grimsby

01472 907517

Next Steps?

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