3 Bed Terraced House, Potential PLO/LOA, Gainsborough, DN21 1JR, £40,000

19 Portland Terrace, Gainsborough, Lincolnshire, DN21 1JR - 2 views - 4 months ago

Auction
Negative Equity
ROI: 13%
73 m²
+6 photos

ValuationUndervalued











Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£10,000

Stamp Duty & Legal Fees

£2,700

Total Cash In

£12,700

 

 

Cash Out

 

Rent Range

£575 - £945

Rent Estimate

£425

Running Costs/mo

£230

Cashflow/mo

£195

Cashflow/yr

£2,340

ROI

18%

Gross Yield

13%













Local Rents

11 rents from £575/mo to £945/mo, average is £650/mo.

RentDateDistanceAddressBeds 
£62503/250.02 mi-3
£60011/240.06 mi-3
£57512/240.15 miTrent Street, Gainsborough3
£65001/250.27 mi-3
£75011/240.29 mi-3
£65002/250.33 mi-3
£65003/250.33 mi-3
£75010/230.41 mi-3
£76003/250.43 mi-3
£94512/240.46 mi-3
£80012/240.53 miParish Mews, Gainsborough, DN213

Local Area Statistics

Population in DN21

36,969

Population in Gainsborough

37,066

Town centre distance

0.59 miles away

Nearest school

0.40 miles away

Nearest train station

0.40 miles away

 

 

Rental demand

Landlord's market

Sales demand

Balanced market

Capital growth (5yrs)

+20%

Property History

Price changed to £40,000

February 28, 2025

Listed for £50,000

-12%

November 21, 2024

Sold for £56,150

2005

Sold for £21,995

1999

Floor Plans

Description

  • Three well-proportioned bedrooms +
  • Welcoming reception room +
  • Practical kitchen layout +
  • Tenant in situ +
  • Steady rental income of £425pcm +
  • Ideal investment opportunity +

Martin&Co are happy to present a terraced house currently listed for sale. This property presents an excellent investment opportunity, with tenants situ paying £425 per calendar month.

Upon entering this residence, you will find a welcoming reception room, providing an ideal space for relaxation and entertaining guests. The property boasts a practical layout featuring a kitchen that is well-structured to cater to all your culinary needs.The house also features a bathroom, fitted with essential fixtures.

The accommodation further benefits from three well-proportioned bedrooms, offering ample space for a growing family or professionals sharing. One of these bedrooms is an attic room, providing additional living space that can be utilised according to your needs.

This house encompasses all the essential elements required for comfortable living and is perfect for those seeking a good return on their investment. With tenants already in place, this property represents a ready-made rental opportunity for any savvy investor.

To summarise, this three-bedroom terraced house presents a great investment opportunity with a steady rental income. Its arrangement with one reception room, one kitchen, and one bathroom, including an attic room, ensures a versatile living space ready to accommodate its new owners.

This property is for sale by the Modern Method of Auction, meaning the buyer and seller are to Complete within 56 days (the "Reservation Period"). Interested parties personal data will be shared with the Auctioneer (iamsold).

If considering buying with a mortgage, inspect and consider the property carefully with your lender before bidding.

A Buyer Information Pack is provided. The winning bidder will pay £349.00 including VAT for this pack which you must view before bidding.

The buyer signs a Reservation Agreement and makes payment of a non-refundable Reservation Fee of 4.50% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. This is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. This is considered within calculations for Stamp Duty Land Tax.

Services may be recommended by the Agent or Auctioneer in which they will receive payment from the service provider if the service is taken. Payment varies but will be no more than £450.00. These services are optional.

Agent Details

Martin & Co, Gainsborough

01427 800763

Next Steps?

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