3 Bed Terraced House, Refurb/BRRR, Grimsby, DN31 2RN, £55,000

62 Gilbey Road, Grimsby, DN31 2RN - 23 views - 5 months ago

Sold STC
BTL
Refurb/BRRR
ROI: 6%
~93 m²
+13 photos

ValuationFair Value

Sold Prices£46K - £122K
Sold Prices/m²£532/m² - £1.4K/m²

 

 

Square Metres

~93 m²
Price/m²£591/m²

Value Estimate

£55,000

 

 

End Value (After Refurb)

£77,299

Uplift in Value

+41%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£13,750

Stamp Duty & Legal Fees

£2,850

Refurb Costs

£37,665

Bridging Loan Interest

£1,444

Total Cash In

£57,459

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£77,299

Mortgage (After Refinance)

£57,974

Mortgage LTV

75%

Cash Released

£16,724

Cash Left In

£40,735

Equity

£19,325

Rent Range

£462 - £990

Rent Estimate

£663

Running Costs/mo

£394

Cashflow/mo

£269

Cashflow/yr

£3,226

ROI

6%

Gross Yield

14%

Local Sold Prices

50 sold prices from £46K to £122K, average is £74.4K. £532/m² to £1.4K/m², average is £894/m².

PriceDateDistanceAddressBeds 
£50K05/210.01 mi57, Gilbey Road, Grimsby, North East Lincolnshire DN31 2RL3
£68K06/230.02 mi30, Gilbey Road, Grimsby, North East Lincolnshire DN31 2RN3
£50K06/230.04 mi22, Dunmow Street, Grimsby, North East Lincolnshire DN31 2RE3
£65K12/220.04 mi93, Newhaven Terrace, Grimsby, North East Lincolnshire DN31 2RU3
£68K02/230.06 mi28, Elsenham Road, Grimsby, North East Lincolnshire DN31 2QR3
£62K06/230.09 mi97, Gilbey Road, Grimsby, North East Lincolnshire DN31 2RW3
£55K05/210.09 mi97, Gilbey Road, Grimsby, North East Lincolnshire DN31 2RW3
£55K05/210.09 mi113, Gilbey Road, Grimsby, North East Lincolnshire DN31 2RW3
£47K01/230.11 mi121, Armstrong Street, Grimsby, North East Lincolnshire DN31 2QQ3
£50K08/210.13 mi6, Mill Avenue, Grimsby, North East Lincolnshire DN31 2RS3
£54K02/210.13 mi13, Mill Avenue, Grimsby, North East Lincolnshire DN31 2RS3
£75K08/210.14 mi93, Armstrong Street, Grimsby, North East Lincolnshire DN31 2QQ3
£59K06/210.14 mi249, Corporation Road, Grimsby, North East Lincolnshire DN31 2PZ3
£93K12/220.14 mi1, Harlow Street, Grimsby, North East Lincolnshire DN31 2QX3
£90K11/220.14 mi237, Corporation Road, Grimsby, North East Lincolnshire DN31 2PZ3
£74.5K12/220.15 mi164, Gilbey Road, Grimsby, North East Lincolnshire DN31 2RP3
£95K01/220.15 mi35, Salamander Close, Grimsby, North East Lincolnshire DN31 2NW3
£56K02/210.16 mi10, Beeson Grove, Grimsby, Humberside DN31 2QJ3
£84K12/220.17 mi100, Boulevard Avenue, Grimsby, North East Lincolnshire DN31 2JH3
£83K12/200.18 mi26, Salamander Close, Grimsby, North East Lincolnshire DN31 2NW3
£88K01/210.18 mi33a, Salamander Close, Grimsby, North East Lincolnshire DN31 2NW3
£64K04/230.19 mi141, Gilbey Road, Grimsby, North East Lincolnshire DN31 2RR3
£60K03/210.19 mi33, Joseph Street, Grimsby, North East Lincolnshire DN31 2NU3
£100K02/230.25 mi196, Lord Street, Grimsby, North East Lincolnshire DN31 2NJ3
£65K04/210.25 mi176, Lord Street, Grimsby, North East Lincolnshire DN31 2NJ3
£87K08/230.25 mi155, Newhaven Terrace, Grimsby, North East Lincolnshire DN31 2RY3
£46K10/200.25 mi153, Newhaven Terrace, Grimsby, North East Lincolnshire DN31 2RY3
£50K08/210.25 mi153, Newhaven Terrace, Grimsby, North East Lincolnshire DN31 2RY3
£60K07/230.26 mi66, Haven Avenue, Grimsby, North East Lincolnshire DN31 2PA3
£46K06/210.27 mi153, Lord Street, Grimsby, North East Lincolnshire DN31 2NH3
£122K02/230.27 mi117, Lord Street, Grimsby, North East Lincolnshire DN31 2NH3
£90K12/220.28 mi46, James Street, Grimsby, North East Lincolnshire DN31 2JE3
£78.5K07/210.28 mi62, James Street, Grimsby, North East Lincolnshire DN31 2JE3
£87K12/200.29 mi44, Lister Street, Grimsby, North East Lincolnshire DN31 2JG3
£75K02/230.3 mi144, Corporation Road, Grimsby, North East Lincolnshire DN31 1UP3
£70K02/230.3 mi140, Corporation Road, Grimsby, North East Lincolnshire DN31 1UP3
£80K06/210.31 mi46, Haven Avenue, Grimsby, North East Lincolnshire DN31 2PB3
£60K02/210.31 mi71, Henry Street, Grimsby, North East Lincolnshire DN31 2JA3
£76K05/210.31 mi36, Henry Street, Grimsby, North East Lincolnshire DN31 2JA3
£70K07/210.33 mi27, Lister Street, Grimsby, Humberside DN31 2HZ3
£95K11/200.33 mi35, Haven Gardens, Grimsby, North East Lincolnshire DN31 2UA3
£71K04/210.33 mi2, Haven Gardens, Grimsby, North East Lincolnshire DN31 2UA3
£90K09/220.33 mi12, Haven Gardens, Grimsby, North East Lincolnshire DN31 2UA3
£82.5K01/230.33 mi220, Macaulay Street, Grimsby, North East Lincolnshire DN31 2EJ3
£90K12/220.34 mi54, Arthur Street, Grimsby, North East Lincolnshire DN31 2HT3
£86K07/210.34 mi59, Arthur Street, Grimsby, North East Lincolnshire DN31 2HT3
£88K08/230.34 mi205, Macaulay Street, Grimsby, North East Lincolnshire DN31 2EL3
£85K01/230.34 mi215, Macaulay Street, Grimsby, North East Lincolnshire DN31 2EL3
£74.3K03/230.34 mi207, Macaulay Street, Grimsby, North East Lincolnshire DN31 2EL3
£82.5K11/220.35 mi181, Macaulay Street, Grimsby, North East Lincolnshire DN31 2EL3

Local Rents

52 rents from £462/mo to £990/mo, average is £625/mo.

RentDateDistanceAddressBeds 
£73004/250.07 mi-3
£63001/240.08 mi-3
£64009/240.08 mi-3
£49503/240.1 miElsenham Road, Grimsby3
£55004/240.11 miCorporation Road, Grimsby3
£62502/240.14 mi-3
£59503/240.14 miCorporation Road, Grimsby3
£62510/240.14 mi-3
£52508/240.19 mi-3
£59503/240.22 miJames Street, Grimsby, South Humberside, DN313
£52503/240.24 miCorporation Road, Grimsby3
£60003/240.24 miLawrence Street, Grimsby3
£64508/240.24 mi-3
£56301/240.25 mi-3
£56304/240.25 mi-3
£99005/240.25 miMacaulay Park, Grimsby, DN313
£48503/240.27 miHenry Street, Grimsby, DN31 2JB3
£55004/240.27 miLord Street, Grimsby3
£56006/240.27 mi-3
£65003/240.32 miMacaulay Street, Grimsby, DN313
£68004/240.32 mi-3
£52503/240.33 miHaycroft Street, Grimsby3
£46212/230.33 mi-3
£62502/240.33 mi-3
£62502/240.33 mi-3
£62504/240.33 mi-3
£56303/240.34 mi-3
£56307/240.34 mi-3
£70003/250.36 mi-3
£55003/240.37 miLancaster Avenue, Grimsby3
£93003/240.37 miMacaulay Park, Grimsby, DN313
£93003/240.38 miMacaulay Park, Grimsby, DN313
£60004/240.38 mi-3
£95503/240.39 miMacaulay Park, Grimsby, DN313
£96503/240.39 miMacaulay Park, Grimsby, DN313
£96503/240.39 miMacaulay Park, Grimsby, DN313
£93003/240.4 miMacaulay Park, Grimsby, DN313
£93003/240.4 miMacaulay Park, Grimsby, DN313
£65001/250.41 mi-3
£67504/240.42 miRoseveare Avenue, Grimsby, Lincolnshire, DN313
£65012/240.43 mi-3
£53503/240.45 miRipon Street, Grimsby, N E Lincolnshire, DN313
£57503/240.47 miAiredale Way, Grimsby3
£57501/240.48 mi-3
£57501/240.48 mi-3
£85010/240.49 mi-3
£80004/250.5 mi-3
£80004/250.5 mi-3
£65003/240.5 miRoseveare Avenue, Grimsby3
£63503/240.51 miTyler Avenue, Grimsby3
£69511/230.52 mi-3
£67511/240.53 mi-3

Local Area Statistics

Population in DN31

9,598

Population in Grimsby

124,581

Town centre distance

1.07 miles away

Nearest school

0.20 miles away

Nearest train station

0.80 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

-4%

Sales demand

Balanced market

Capital growth (5yrs)

+23%

Property History

Listed for £55,000

November 21, 2024

Floor Plans

Description

  • VIDEO VIEWING AVAILABLE +
  • 3 Bedroom End Terraced House +
  • Front and Rear Gardens +
  • Attractively Priced +
  • Excellent for a First Time Buyer or an Investor +
  • Close to Grimsby Town Centre +

This 3 bedroom end terraced property would make the perfect first time purchase or addition to any buy to let investors portfolio. Although in need of general modernisation, the property has been attractively price and allows the new owner scope to develop their own home. Conveniently located near local amenities, contact us now to schedule a viewing.

Agent Details

Jackson Green & Preston, Grimsby

01472 404357

Next Steps?

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