2 Bed Terraced House, Refurb/BRRR, Cleethorpes, DN35 7RD, £65,000

Ward Street, Cleethorpes, Lincolnshire, DN35 7RD - 2 views - 4 months ago

Sold STC
Refurb/BRRR
ROI: 6%
~68 m²
+4 photos

ValuationFair Value

Sold Prices£40K - £150K
Sold Prices/m²£519/m² - £3K/m²

 

 

Square Metres

~68.11 m²
Price/m²£954/m²

Value Estimate

£66,300

 

 

End Value (After Refurb)

£69,159

Uplift in Value

+-1%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£16,250

Stamp Duty & Legal Fees

£3,299

Refurb Costs

£27,513

Bridging Loan Interest

£1,706

Total Cash In

£50,518

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£69,159

Mortgage (After Refinance)

£51,869

Mortgage LTV

75%

Cash Released

£3,119

Cash Left In

£47,398

Equity

£17,290

Rent Range

£450 - £1,000

Rent Estimate

£595

Running Costs/mo

£355

Cashflow/mo

£240

Cashflow/yr

£2,879

ROI

6%

Gross Yield

11%

Local Sold Prices

50 sold prices from £40K to £150K, average is £80.5K. £519/m² to £3K/m², average is £1K/m².

PriceDateDistanceAddressBeds 
£61K04/210.06 mi178a, Grimsby Road, Cleethorpes, North East Lincolnshire DN35 7EZ2
£76K02/210.07 mi21, Elliston Street, Cleethorpes, North East Lincolnshire DN35 7HS2
£79.5K10/200.14 mi134, Blundell Avenue, Cleethorpes, North East Lincolnshire DN35 7RJ2
£76K06/210.14 mi102, Blundell Avenue, Cleethorpes, North East Lincolnshire DN35 7RJ2
£115K05/230.15 mi23, May Street, Cleethorpes, North East Lincolnshire DN35 7HH2
£66K03/210.16 mi147, Tiverton Street, Cleethorpes, North East Lincolnshire DN35 7EF2
£141K12/200.16 mi48, Bramhall Street, Cleethorpes, North East Lincolnshire DN35 7QY2
£122K01/230.18 mi6, Warneford Road, Cleethorpes, North East Lincolnshire DN35 7QL2
£120K08/210.19 mi2, Wilson Street, Cleethorpes, North East Lincolnshire DN35 7QF2
£56K06/230.22 mi72, Tiverton Street, Cleethorpes, North East Lincolnshire DN35 7PR2
£60K11/200.24 mi133a, Brereton Avenue, Cleethorpes, North East Lincolnshire DN35 7RL2
£90K01/230.3 mi111, Daubney Street, Cleethorpes, North East Lincolnshire DN35 7NN2
£75K06/230.3 mi159, Barcroft Street, Cleethorpes, North East Lincolnshire DN35 7DU2
£74K01/210.32 mi182, Barcroft Street, Cleethorpes, North East Lincolnshire DN35 7DX2
£72K08/230.34 mi191, Daubney Street, Cleethorpes, North East Lincolnshire DN35 7NT2
£150K12/220.35 mi8, Suggitts Orchard, Cleethorpes, North East Lincolnshire DN35 7LN2
£78K12/200.36 mi174, Daubney Street, Cleethorpes, North East Lincolnshire DN35 7NU2
£88K09/230.37 mi14, Bennett Road, Cleethorpes, North East Lincolnshire DN35 7JS2
£55K04/210.38 mi59, Sidney Street, Cleethorpes, North East Lincolnshire DN35 7NQ2
£70K03/230.39 mi63, Sussex Street, Cleethorpes, North East Lincolnshire DN35 7NW2
£75K04/210.41 mi34, Johnson Street, Cleethorpes, North East Lincolnshire DN35 7NA2
£78K10/210.41 mi17, Johnson Street, Cleethorpes, North East Lincolnshire DN35 7NA2
£75K04/210.41 mi34, Johnson Street, Cleethorpes, North East Lincolnshire DN35 7NA2
£70K11/210.42 mi27, Freeston Street, Cleethorpes, Humberside DN35 7LY2
£40K01/210.42 mi41, Pelham Road, Cleethorpes, North East Lincolnshire DN35 7JT2
£93K01/230.45 mi27, Kathleen Grove, Grimsby, North East Lincolnshire DN32 8JT2
£98K10/210.5 mi13, Helene Grove, Grimsby, North East Lincolnshire DN32 8JX2
£120K11/210.5 mi10, Helene Grove, Grimsby, North East Lincolnshire DN32 8JX2
£100K06/210.5 mi44, Grove Crescent, Grimsby, North East Lincolnshire DN32 8JU2
£92K11/200.5 mi84, Grove Crescent, Grimsby, North East Lincolnshire DN32 8JU2
£97K02/210.5 mi64, Grove Crescent, Grimsby, North East Lincolnshire DN32 8JU2
£87K03/210.5 mi31, Grove Crescent, Grimsby, North East Lincolnshire DN32 8JU2
£100K06/210.5 mi57, Grove Crescent, Grimsby, Humberside DN32 8JU2
£58K07/210.5 mi15, Mansel Street, Grimsby, North East Lincolnshire DN32 7QX2
£83K04/230.53 mi111, St Heliers Road, Cleethorpes, North East Lincolnshire DN35 7LG2
£82K06/230.53 mi91, St Heliers Road, Cleethorpes, North East Lincolnshire DN35 7LG2
£88K11/200.53 mi33, St Heliers Road, Cleethorpes, North East Lincolnshire DN35 7LG2
£79K02/230.53 mi107, St Heliers Road, Cleethorpes, North East Lincolnshire DN35 7LG2
£42K05/230.53 mi71, Harold Street, Grimsby, North East Lincolnshire DN32 7NQ2
£82.5K03/230.53 mi135, Castle Street, Grimsby, North East Lincolnshire DN32 7LB2
£59.5K05/210.55 mi18, St Heliers Road, Cleethorpes, North East Lincolnshire DN35 7LQ2
£64K05/230.56 mi253, Durban Road, Grimsby, North East Lincolnshire DN32 8AU2
£138K08/230.58 mi9, Holyoake Road, Grimsby, North East Lincolnshire DN32 8JH2
£130K08/220.59 mi9b, Holyoake Road, Grimsby, North East Lincolnshire DN32 8JH2
£132.5K01/210.68 mi42, Lichfield Road, Grimsby, North East Lincolnshire DN32 8JZ2
£81K03/210.68 mi136, Fairmont Road, Grimsby, North East Lincolnshire DN32 8DX2
£80K05/210.68 mi81, Fairmont Road, Grimsby, North East Lincolnshire DN32 8DX2
£90K04/210.69 mi165, Cooper Road, Grimsby, North East Lincolnshire DN32 8DQ2
£102.1K10/210.69 mi94, Cooper Road, Grimsby, North East Lincolnshire DN32 8DQ2
£55K01/230.69 mi162, Stanley Street, Grimsby, North East Lincolnshire DN32 7LJ2

Local Rents

13 rents from £450/mo to £1K/mo, average is £550/mo.

RentDateDistanceAddressBeds 
£57504/240.13 miImperial Court, Grimsby Road, Cleethorpes2
£46503/240.17 miGrimsby Road, Cleethorpes, DN352
£49503/240.24 miBlundell Avenue, Cleethorpes2
£55003/240.26 miLovett Street, Cleethorpes, South Humberside, DN352
£65003/240.26 miValentine Court, Cleethorpes2
£70004/240.26 mi-2
£45004/240.32 miFreeston Street, Cleethorpes2
£55003/240.33 miDaubney Street, Cleethorpes2
£1,00001/240.39 mi-2
£63503/240.45 miKathleen Grove, Grimsby!2
£50003/240.48 miPark Street, Grimsby2
£50003/240.48 miPark Street, Grimsby2
£52503/250.59 mi-2

Local Area Statistics

Population in DN35

34,530

Town centre distance

1.13 miles away

Nearest school

0.10 miles away

Nearest train station

0.65 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+51%

Sales demand

Balanced market

Capital growth (5yrs)

+21%

Property History

Price changed to £65,000

December 13, 2024

Listed for £69,950

November 29, 2024

Sold for £19,000

2001

Description

  • Mid Terrace Property +
  • 2 Bedrooms +
  • Cleethorpes Location +
  • Ideal Investment +
  • No Forward Chain +
  • Downstairs W/C +
  • Viewing Essential +
  • EPC Rating - D, Council Tax Band - A +

IDEAL INVESTMENT. Offered for sale with No Forward Chain! This 2 bedroom mid terraced property is an ideal investment opportunity which is in good order but in need of updating. If the property has been done to a good standard it is the agents opinion that a rent in the region of £595pcm could be achieved.
Internal Accommodation briefly comprises; Entrance Hallway, Through Lounge, Kitchen, Downstairs W/C. Upstairs are 2 Bedrooms and Bathroom. There is a small front garden and a spacious private enclosed garden to the rear. On street parking is available.
Viewing is essential and not one to be missed.

Agent Details

Pygott & Crone, Grimsby

01472 404413

Next Steps?

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