2 Bed Semi-Detached House, Refurb/BRRR, Scunthorpe, DN17 3LF, £125,000

Parklands, West Butterwick, DN17 3LF - 4 months ago

Sold STC

Refurb/BRRR

ROI: 4%

~68 m²

+9 photos

ValuationFair Value

Sold Prices	£60K - £250K
Sold Prices/m²	£1.3K/m² - £4.2K/m²

Square Metres	~68.11 m²
Price/m²	£1.8K/m²
Value Estimate	£127,500£127,500

End Value (After Refurb)	£128,250£128,250
Uplift in Value	+3%+3%

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£31,250£31,250
Stamp Duty & Legal Fees	£4,950£4,950
Refurb Costs	£26,993£26,993
Bridging Loan Interest	£3,281£3,281
Total Cash In	£68,225£68,225

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£128,250£128,250
Mortgage (After Refinance)	£96,188£96,188
Mortgage LTV	75%75%
Cash Released	£2,438£2,438
Cash Left In	£65,787£65,787
Equity	£32,063£32,063
Rent Range	£650 - £950£650 - £950
Rent Estimate	£800
Running Costs/mo	£581£581
Cashflow/mo	£219£219
Cashflow/yr	£2,631£2,631
ROI	4%4%
Gross Yield	8%8%

Local Sold Prices

22 sold prices from £60K to £250K, average is £156.5K. £1.3K/m² to £4.2K/m², average is £2.7K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£60K	09/22	0.19 mi	21, West Street, West Butterwick, Scunthorpe, North Lincolnshire DN17 3JZ	-	-	2	Terraced House
£158K	03/21	0.29 mi	1a, School Lane, West Butterwick, Scunthorpe, North Lincolnshire DN17 3LB	£2,107	75	2	Detached House
£186K	01/23	2.24 mi	4, The Meadows, Burringham, Scunthorpe, North Lincolnshire DN17 3LW	£2,776	67	2	Detached House
£98K	03/21	2.27 mi	16, Pasture Avenue, Burringham, Scunthorpe, North Lincolnshire DN17 3NF	£1,342	73	2	Semi-Detached House
£135K	05/23	2.35 mi	23, Hadleigh Green, Burringham, Scunthorpe, North Lincolnshire DN17 3NJ	£2,045	66	2	Terraced House
£128K	08/23	2.35 mi	17, Hadleigh Green, Burringham, Scunthorpe, North Lincolnshire DN17 3NJ	£2,065	62	2	Terraced House
£125K	10/22	2.35 mi	27, Hadleigh Green, Burringham, Scunthorpe, North Lincolnshire DN17 3NJ	£2,118	59	2	Terraced House
£174K	12/20	2.74 mi	3, Temple Close, Belton, Doncaster, North Lincolnshire DN9 1TG	£2,320	75	2	Detached House
£179.9K	04/21	2.74 mi	2, Temple Close, Belton, Doncaster, North Lincolnshire DN9 1TG	-	-	2	Detached House
£167K	01/21	2.74 mi	4, Temple Close, Belton, Doncaster, North Lincolnshire DN9 1TG	£2,694	62	2	Detached House
£167.4K	08/22	2.76 mi	51a, Jeffrey Lane, Belton, Doncaster, North Lincolnshire DN9 1LU	-	-	2	Terraced House
£195K	09/21	2.87 mi	10, Lockwood Bank, Epworth, Doncaster, North Lincolnshire DN9 1JJ	£3,679	53	2	Detached House
£140K	02/21	2.88 mi	51, Eastfield Road, Epworth, Doncaster, North Lincolnshire DN9 1JQ	£2,800	50	2	Semi-Detached House
£155K	09/22	2.89 mi	11, Lindsey Court, Epworth, Doncaster, North Lincolnshire DN9 1SD	-	-	2	Semi-Detached House
£150K	11/20	2.89 mi	13, Lindsey Court, Epworth, Doncaster, North Lincolnshire DN9 1SD	£2,727	55	2	Semi-Detached House
£165K	03/23	2.9 mi	30, Poachers Croft, Churchtown, Doncaster, North Lincolnshire DN9 1QU	-	-	2	Semi-Detached House
£165K	12/21	2.9 mi	15, Poachers Croft, Churchtown, Doncaster, North Lincolnshire DN9 1QU	-	-	2	Detached House
£198K	02/23	2.9 mi	32, Poachers Croft, Churchtown, Doncaster, North Lincolnshire DN9 1QU	£4,231	47	2	Semi-Detached House
£250K	05/21	2.94 mi	1, St Andrews Way, Epworth, Doncaster, North Lincolnshire DN9 1SN	£3,165	79	2	Detached House
£139K	08/21	2.97 mi	11, Pinfold, Epworth, Doncaster, North Lincolnshire DN9 1SG	-	-	2	Semi-Detached House
£118K	02/21	2.97 mi	4, Pinfold, Epworth, Doncaster, North Lincolnshire DN9 1SG	£2,145	55	2	Semi-Detached House
£149.9K	02/21	2.97 mi	10, Pinfold, Epworth, Doncaster, North Lincolnshire DN9 1SG	£2,771	54	2	Semi-Detached House

Local Rents

2 rents from £650/mo to £950/mo, average is £800/mo.

Rent	Date	Distance	Address	Beds	Type
£950	12/24	0.3 mi	South Street, West Butterwick, Scunthorpe, North Lincolnshire, DN17	3	Flat
£650	12/24	0.46 mi	Northfield Close, West Butterwick	2	Flat

Local Area Statistics

Population in DN17	37,16837,168
Population in Scunthorpe	105,498105,498
Town centre distance	4.89 miles away4.89 miles away
Nearest school	0.30 miles away0.30 miles away
Nearest train station	3.08 miles away3.08 miles away

Rental growth (12m)	+56%+56%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+23%+23%

Property History

Listed for £125,000

December 13, 2024

Sold for £98,500

2023

Sold for £93,000

2016

Sold for £95,000

2005

Sold for £39,000

2001

Floor Plans

Description

Recently Renovated Throughout +
Ideal First Time Buyer Home +
Semi Detached House +
2 Double Bedrooms +
Modern Kitchen & Bathroom +
Front, Side & Rear Gardens +
Quiet Location +
Must View! +

Benefitting from a huge scheme of renovation in the last year to include: rewire, new electric box, new kitchen, new bathroom, replastering, decoration, new oak doors, new fencing and front garden redesign, this property also occupies a good corner plot with outdoor space to the front, side and rear. The internal accommodation briefly comprises of 2 double bedrooms and a bathroom to the first floor, whilst downstairs boasts a dual aspect lounge overlooking the front and rear gardens and a modern kitchen/diner with access to an under stairs storage cupboard. An internal inspection is highly recommended, call today to view! Freehold. Council tax band: A

Agent Details

Starkey & Brown, Scunthorpe

01724 706802

Next Steps?

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

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