3 Bed Terraced House, Refurb/BRRR, Grimsby, DN31 2EL, £64,500

203 Macaulay Street, DN31, Grimsby, DN31 2EL - 10 views - 5 months ago

Sold STC
Refurb/BRRR
Negative Equity
ROI: 5%
~93 m²
+5 photos

ValuationFair Value

Sold Prices£31K - £180K
Sold Prices/m²£470/m² - £1.4K/m²

 

 

Square Metres

~93 m²
Price/m²£694/m²

Value Estimate

£65,790

 

 

End Value (After Refurb)

£87,364

Uplift in Value

+35%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£16,125

Stamp Duty & Legal Fees

£3,135

Refurb Costs

£37,665

Bridging Loan Interest

£1,693

Total Cash In

£60,368

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£87,364

Mortgage (After Refinance)

£65,523

Mortgage LTV

75%

Cash Released

£17,148

Cash Left In

£43,220

Equity

£21,841

Rent Range

£462 - £990

Rent Estimate

£661

Running Costs/mo

£425

Cashflow/mo

£236

Cashflow/yr

£2,829

ROI

5%

Gross Yield

12%

Local Sold Prices

50 sold prices from £31K to £180K, average is £82.8K. £470/m² to £1.4K/m², average is £938/m².

PriceDateDistanceAddressBeds 
£82.5K01/230.02 mi220, Macaulay Street, Grimsby, North East Lincolnshire DN31 2EJ3
£88K08/230.02 mi205, Macaulay Street, Grimsby, North East Lincolnshire DN31 2EL3
£85K01/230.02 mi215, Macaulay Street, Grimsby, North East Lincolnshire DN31 2EL3
£74.3K03/230.02 mi207, Macaulay Street, Grimsby, North East Lincolnshire DN31 2EL3
£82.5K11/220.04 mi181, Macaulay Street, Grimsby, North East Lincolnshire DN31 2EL3
£87K12/200.05 mi44, Lister Street, Grimsby, North East Lincolnshire DN31 2JG3
£75K10/210.06 mi6, Lancaster Avenue, Grimsby, North East Lincolnshire DN31 2EW3
£45K12/200.06 mi36, Lancaster Avenue, Grimsby, North East Lincolnshire DN31 2EW3
£80.9K06/210.06 mi12, Lancaster Avenue, Grimsby, North East Lincolnshire DN31 2EW3
£87.5K03/230.06 mi47, Lancaster Avenue, Grimsby, North East Lincolnshire DN31 2EW3
£70K07/210.06 mi27, Lister Street, Grimsby, Humberside DN31 2HZ3
£60K08/210.08 mi44, Wharton Street, Grimsby, North East Lincolnshire DN31 2EG3
£78.5K07/210.09 mi62, James Street, Grimsby, North East Lincolnshire DN31 2JE3
£90K12/220.09 mi46, James Street, Grimsby, North East Lincolnshire DN31 2JE3
£31K04/210.1 mi7, Newby Road, Grimsby, Humberside DN31 2EQ3
£60K02/210.11 mi71, Henry Street, Grimsby, North East Lincolnshire DN31 2JA3
£76K05/210.11 mi36, Henry Street, Grimsby, North East Lincolnshire DN31 2JA3
£86K07/210.13 mi59, Arthur Street, Grimsby, North East Lincolnshire DN31 2HT3
£90K12/220.13 mi54, Arthur Street, Grimsby, North East Lincolnshire DN31 2HT3
£46K06/210.14 mi153, Lord Street, Grimsby, North East Lincolnshire DN31 2NH3
£122K02/230.14 mi117, Lord Street, Grimsby, North East Lincolnshire DN31 2NH3
£56K05/210.14 mi73, Haycroft Street, Grimsby, North East Lincolnshire DN31 2HR3
£63K09/230.15 mi4, Boulevard Way, Grimsby, North East Lincolnshire DN31 2DA3
£100K02/230.15 mi196, Lord Street, Grimsby, North East Lincolnshire DN31 2NJ3
£65K04/210.15 mi176, Lord Street, Grimsby, North East Lincolnshire DN31 2NJ3
£83K12/200.16 mi26, Salamander Close, Grimsby, North East Lincolnshire DN31 2NW3
£88K01/210.16 mi33a, Salamander Close, Grimsby, North East Lincolnshire DN31 2NW3
£74.5K07/230.17 mi5, Naseby Grove, Grimsby, North East Lincolnshire DN31 2BZ3
£95K01/220.18 mi35, Salamander Close, Grimsby, North East Lincolnshire DN31 2NW3
£60K03/210.18 mi33, Joseph Street, Grimsby, North East Lincolnshire DN31 2NU3
£100K10/210.19 mi6, Chantry Close, Grimsby, North East Lincolnshire DN31 2JY3
£84K12/220.19 mi100, Boulevard Avenue, Grimsby, North East Lincolnshire DN31 2JH3
£103K06/230.19 mi109, Cromwell Road, Grimsby, North East Lincolnshire DN31 2DL3
£95K06/210.19 mi109, Cromwell Road, Grimsby, North East Lincolnshire DN31 2DL3
£95K09/230.2 mi11, Bemrose Way, Grimsby, North East Lincolnshire DN31 2JZ3
£88K09/210.21 mi54, Fairfax Road, Grimsby, North East Lincolnshire DN34 4AP3
£95K05/230.21 mi238, Cromwell Road, Grimsby, North East Lincolnshire DN31 2BX3
£60K07/230.22 mi66, Haven Avenue, Grimsby, North East Lincolnshire DN31 2PA3
£73K04/230.23 mi19, Ripon Street, Grimsby, North East Lincolnshire DN31 2HG3
£45K02/210.23 mi13, Ripon Street, Grimsby, North East Lincolnshire DN31 2HG3
£90K06/210.23 mi2, Cromwell Avenue, Grimsby, North East Lincolnshire DN31 2DR3
£105K09/210.24 mi27, Cromwell Road, Grimsby, North East Lincolnshire DN31 2DN3
£180K11/220.24 mi7, Marshall Avenue, Grimsby, North East Lincolnshire DN34 4AJ3
£73K10/210.24 mi32, Cromwell Road, Grimsby, North East Lincolnshire DN31 2DW3
£95K02/210.24 mi54, Cromwell Road, Grimsby, North East Lincolnshire DN31 2DW3
£80K06/210.25 mi46, Haven Avenue, Grimsby, North East Lincolnshire DN31 2PB3
£80K05/210.25 mi225, Cromwell Road, Grimsby, North East Lincolnshire DN31 2BE3
£128K05/230.25 mi211, Cromwell Road, Grimsby, North East Lincolnshire DN31 2BE3
£76K10/200.26 mi20, Wentworth Road, Grimsby, North East Lincolnshire DN34 4AR3
£100K07/210.26 mi23, Wentworth Road, Grimsby, North East Lincolnshire DN34 4AR3

Local Rents

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

RentDateDistanceAddressBeds 
£46212/230.01 mi-3
£65003/240.02 miMacaulay Street, Grimsby, DN313
£68004/240.02 mi-3
£70003/250.05 mi-3
£55003/240.05 miLancaster Avenue, Grimsby3
£60004/240.05 mi-3
£56303/240.09 mi-3
£56307/240.09 mi-3
£64508/240.09 mi-3
£62502/240.11 mi-3
£62502/240.11 mi-3
£62504/240.11 mi-3
£60003/240.11 miLawrence Street, Grimsby3
£55004/240.14 miLord Street, Grimsby3
£57501/240.15 mi-3
£57501/240.15 mi-3
£85010/240.16 mi-3
£56006/240.16 mi-3
£80004/250.17 mi-3
£80004/250.17 mi-3
£59503/240.19 miJames Street, Grimsby, South Humberside, DN313
£48503/240.19 miHenry Street, Grimsby, DN31 2JB3
£56301/240.2 mi-3
£56304/240.2 mi-3
£99005/240.22 miMacaulay Park, Grimsby, DN313
£52503/240.23 miHaycroft Street, Grimsby3
£53503/240.23 miRipon Street, Grimsby, N E Lincolnshire, DN313
£65001/250.25 mi-3
£64007/230.26 mi-3
£67504/240.27 miRoseveare Avenue, Grimsby, Lincolnshire, DN313
£55004/240.31 miCorporation Road, Grimsby3
£59503/240.31 miCorporation Road, Grimsby3
£65003/240.32 miRoseveare Avenue, Grimsby3
£62511/240.33 mi-3
£62505/240.33 miSpring Bank, Grimsby, DN343
£63503/240.33 miTyler Avenue, Grimsby3
£52503/240.34 miCorporation Road, Grimsby3
£65012/240.34 mi-3
£93003/240.36 miMacaulay Park, Grimsby, DN313
£93003/240.36 miMacaulay Park, Grimsby, DN313
£95503/240.36 miMacaulay Park, Grimsby, DN313
£96503/240.37 miMacaulay Park, Grimsby, DN313
£96503/240.37 miMacaulay Park, Grimsby, DN313
£69511/230.37 mi-3
£93003/240.37 miMacaulay Park, Grimsby, DN313
£93003/240.37 miMacaulay Park, Grimsby, DN313
£73004/250.38 mi-3
£62502/240.39 mi-3
£55003/240.39 miAnderson Street, Grimsby3
£60005/240.4 mi-3
£59007/230.4 mi-3
£62505/240.4 miSpring Bank, Grimsby3

Local Area Statistics

Population in DN31

9,598

Population in Grimsby

124,581

Town centre distance

0.75 miles away

Nearest school

0.10 miles away

Nearest train station

0.59 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

-4%

Sales demand

Balanced market

Capital growth (5yrs)

+23%

Property History

Listed for £64,500

-7%

December 10, 2024

Sold for £69,000

2005

Description

Letsand...Property Sales are delighted to offer for sale this excellent investment opportunity that is located in this established residential position within easy reach of Grimsby Town Centre. The property is partially modernised with newly fitted Kitchen and Bathroom suite, however, the remainder of the proprerty does need further renovation, hence the realistic asking price. The spacious, uPVC double glazed and gas centrally heated, accommodation briefly comprises; Entrance Porch with tiled floor and walls, Entrance Hall with built in cupboard, Lounge with bay window to front, Sitting Room with solid fuel stove, modern fitted Kitchen, Cloakroom with plumbing for WC, 3 Bedrooms and Bathroom with modern white suite. Outside is a small enclosed front yard and a rear garden that requires landscaping.

uPVC double glazed french doors open into small porch with tiled floor and half tiled walls. Entrance Hall With tiled floor and built in cupboard. Lounge - 14'3 x 9'6  With uPVC double glazed bay window to front, electric living flame fire, radiator and laminate floor. Sitting Room - 15'1 x 13'4 With understairs cupboard and solid fuel stove. Kitchen - 10'3 x 7'9 With modern fitted kitchen, sink unit, gas range style cooker, uPVC double glazed window to side and tiled walls. Rear Lobby With uPVC double glazed rear entrance door and cloakroom with plumbing for WC. Stairs off hallway to first floor landing and doors off to; Bedroom 1 - 13'4 x 9'7 With uPVC double glazed window to rear and radiator. Bedroom 2 - 12'4 x 8'11 With laminate floor, uPVC double glazed window to front and radiator. Bedroom 3 - 9'1 x 5'7 With radiator and uPVC double glazed window to front. Bathroom - With a modern white suite, radiator and uPVC double glazed window to rear. The room just needs finishing off. Outside There is a small enclosed front yard and a rear garden that requires maintenance and clearing.

Agent Details

Letsand, Grimsby

01472 404512

Next Steps?

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