3 Bed Terraced House, Refurb/BRRR, Gainsborough, DN21 1BX, £69,950

Wellington Street, Gainsborough , DN21 1BX - 2 views - 3 months ago

Sold STC
Refurb/BRRR
ROI: 6%
~93 m²
+4 photos

ValuationUndervalued

Sold Prices£37.5K - £200K
Sold Prices/m²£436/m² - £2.1K/m²

 

 

Square Metres

~93 m²
Price/m²£752/m²

Value Estimate

£72,049
BMV3%

 

 

End Value (After Refurb)

£78,959

Uplift in Value

+13%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£17,488

Stamp Duty & Legal Fees

£3,299

Refurb Costs

£37,686

Bridging Loan Interest

£1,836

Total Cash In

£62,058

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£78,959

Mortgage (After Refinance)

£59,219

Mortgage LTV

75%

Cash Released

£6,756

Cash Left In

£55,301

Equity

£19,740

Rent Range

£575 - £945

Rent Estimate

£715

Running Costs/mo

£410

Cashflow/mo

£305

Cashflow/yr

£3,663

ROI

6%

Gross Yield

12%

Local Sold Prices

50 sold prices from £37.5K to £200K, average is £84K. £436/m² to £2.1K/m², average is £980/m².

PriceDateDistanceAddressBeds 
£39.5K07/210 mi8, Wellington Street, Gainsborough, Lincolnshire DN21 1BX3
£47.5K05/210 mi26, Wellington Street, Gainsborough, Lincolnshire DN21 1BX3
£60K07/230.06 mi47, Marlborough Street, Gainsborough, Lincolnshire DN21 1BT3
£47K12/200.08 mi12, Wheeldon Street, Gainsborough, Lincolnshire DN21 1BS3
£60K03/230.08 mi1, Prospect Terrace, Gainsborough, Lincolnshire DN21 1BP3
£80K12/200.08 mi38, Sandsfield Lane, Gainsborough, Lincolnshire DN21 1DA3
£135K07/230.1 mi2, King Street, Gainsborough, Lincolnshire DN21 1JS3
£45K02/210.13 mi14, Britannia Terrace, Gainsborough, Lincolnshire DN21 1BL3
£37.5K07/210.13 mi53, Gordon Street, Gainsborough, Lincolnshire DN21 1DW3
£53K04/210.14 mi18, Gordon Street, Gainsborough, Lincolnshire DN21 1DJ3
£58K02/210.15 mi15, Ashcroft Road, Gainsborough, Lincolnshire DN21 1LB3
£65K03/230.15 mi39, Ashcroft Road, Gainsborough, Lincolnshire DN21 1LB3
£43K02/210.16 mi29, Linden Terrace, Gainsborough, Lincolnshire DN21 1JQ3
£70K11/210.17 mi5, Darwin Street, Gainsborough, Lincolnshire DN21 1DL3
£95K02/230.18 mi9, Cromwell Street, Gainsborough, Lincolnshire DN21 1DH3
£70K03/230.2 mi108, Sandsfield Lane, Gainsborough, Lincolnshire DN21 1DD3
£112.5K05/230.2 mi178, Sandsfield Lane, Gainsborough, Lincolnshire DN21 1DD3
£60K02/210.2 mi8, Cromwell Street, Gainsborough, Lincolnshire DN21 1DH3
£58K09/210.2 mi5, Cromwell Street, Gainsborough, Lincolnshire DN21 1DH3
£117K08/210.2 mi133, Sandsfield Lane, Gainsborough, Lincolnshire DN21 1DB3
£118K12/200.2 mi135, Sandsfield Lane, Gainsborough, Lincolnshire DN21 1DB3
£100K12/220.2 mi135, Sandsfield Lane, Gainsborough, Lincolnshire DN21 1DB3
£53K03/230.21 mi16, Washington Street, Gainsborough, Lincolnshire DN21 1DR3
£65K10/200.22 mi4, Bacon Street, Gainsborough, Lincolnshire DN21 1DQ3
£165K01/210.23 mi53, Enderby Crescent, Gainsborough, Lincolnshire DN21 1XQ3
£78K09/210.24 mi107, Lea Road, Gainsborough, Lincolnshire DN21 1AB3
£65K07/210.24 mi101, Lea Road, Gainsborough, Lincolnshire DN21 1AB3
£83K09/210.24 mi163, Lea Road, Gainsborough, Lincolnshire DN21 1AB3
£73K01/210.24 mi49, Drake Street, Gainsborough, Lincolnshire DN21 1DF3
£160K07/210.29 mi34, Ravendale Road, Gainsborough, Lincolnshire DN21 1XA3
£127K01/230.29 mi5, St Andrews Court, Gainsborough, Lincolnshire DN21 1BD3
£186K08/210.34 mi5, Rothwell Close, Gainsborough, Lincolnshire DN21 1XN3
£158K10/200.39 mi6, Hainton Close, Gainsborough, Lincolnshire DN21 1UY3
£164K05/210.46 mi20, Middlefield Lane, Gainsborough, Lincolnshire DN21 1UU3
£170K12/200.47 mi129, Middlefield Lane, Gainsborough, Lincolnshire DN21 1QR3
£158K12/200.48 mi25, Willoughby Chase, Gainsborough, Lincolnshire DN21 1GR3
£138K09/210.48 mi54, Willoughby Chase, Gainsborough, Lincolnshire DN21 1GR3
£160K02/230.48 mi18, Willoughby Chase, Gainsborough, Lincolnshire DN21 1GR3
£97K12/200.49 mi17, Pingle Close, Gainsborough, Lincolnshire DN21 1XR3
£85K11/200.49 mi30, Riseholme Road, Gainsborough, Lincolnshire DN21 1NJ3
£75K06/210.49 mi11, Riseholme Road, Gainsborough, Lincolnshire DN21 1NJ3
£200K07/230.5 mi3, Middlefield Lane, Gainsborough, Lincolnshire DN21 1TY3
£118K06/230.51 mi6, Saracen Close, Gainsborough, Lincolnshire DN21 1PQ3
£170K06/230.52 mi1, Claythorne Drive, Gainsborough, Lincolnshire DN21 1TZ3
£145K10/200.59 mi23, Spital Terrace, Gainsborough, Lincolnshire DN21 2HD3
£155K12/210.6 mi33, The Pines, Gainsborough, Lincolnshire DN21 1PW3
£150K07/210.6 mi62, The Pines, Gainsborough, Lincolnshire DN21 1PW3
£80K08/210.61 mi10, Aegir Close, Gainsborough, Lincolnshire DN21 1YP3
£87K08/210.61 mi11, Aegir Close, Gainsborough, Lincolnshire DN21 1YP3
£72K07/230.63 mi47, Tennyson Street, Gainsborough, Lincolnshire DN21 2JG3

Local Rents

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

RentDateDistanceAddressBeds 
£60011/240.09 mi-3
£57512/240.09 miTrent Street, Gainsborough3
£65012/240.14 mi-3
£62503/250.15 mi-3
£75011/240.16 mi-3
£65002/250.21 mi-3
£65003/250.21 mi-3
£65003/250.21 mi-3
£75010/230.29 mi-3
£76002/250.53 mi-3
£94512/240.57 mi-3

Local Area Statistics

Population in DN21

36,969

Population in Gainsborough

37,066

Town centre distance

0.66 miles away

Nearest school

0.30 miles away

Nearest train station

0.47 miles away

 

 

Rental demand

Landlord's market

Sales demand

Balanced market

Capital growth (5yrs)

+20%

Property History

Listed for £69,950

December 19, 2024

Sold for £47,500

2021

Description

  • Three spacious bedrooms +
  • Ideal renovation project +
  • Close To All Amenities +
  • Lounge +

Martin & Co Gainsborough are delighted to present this Mid-Terraced property to the local sales market.

Located upon Wellington Street, Gainsborough this property benefits from its location as it is situated within a close proximity to all local amenities and schools.

The accommodation comprises of a lounge, dining room, kitchen and bathroom to the ground floor, to the first floor there are three bedrooms.

To rear there is a paved garden.

Please contact us to view today.

Agent Details

Martin & Co, Gainsborough

01427 800763

Next Steps?

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