2 Bed Bungalow, Refurb/BRRR, Hornsea, HU18 1JU, £158,500

Nutana Avenue, Hornsea, HU18 1JU - 3 months ago

Sold STC

Refurb/BRRR

ROI: 1%

~76 m²

+7 photos

ValuationOvervalued

Sold Prices	£85K - £299.9K
Sold Prices/m²	£1.1K/m² - £4.5K/m²

Square Metres	~76 m²
Price/m²	£2.1K/m²
Value Estimate	£150,402£150,402

End Value (After Refurb)	£145,893£145,893

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£39,625£39,625
Stamp Duty & Legal Fees	£9,125£9,125
Refurb Costs	£30,575£30,575
Bridging Loan Interest	£4,161£4,161
Total Cash In	£85,235£85,235

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£145,893£145,893
Mortgage (After Refinance)	£109,420£109,420
Mortgage LTV	75%75%
Cash Left In	£85,235£85,235
Equity	£36,473£36,473
Rent Range	£350 - £1,350£350 - £1,350
Rent Estimate	£665
Running Costs/mo	£609£609
Cashflow/mo	£56£56
Cashflow/yr	£673£673
ROI	1%1%
Gross Yield	5%5%

Local Sold Prices

26 sold prices from £85K to £299.9K, average is £164.3K. £1.1K/m² to £4.5K/m², average is £2.1K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£177K	12/22	0.28 mi	1, Bay View Avenue, Hornsea, East Riding Of Yorkshire HU18 1JL	£4,538	39	2	Detached House
£145K	01/21	0.4 mi	72, St Nicholas Drive, Hornsea, East Riding Of Yorkshire HU18 1ER	£2,458	59	2	Semi-Detached House
£161K	02/23	0.43 mi	26, Northgate, Hornsea, East Riding Of Yorkshire HU18 1ES	-	-	2	Semi-Detached House
£145K	07/21	0.45 mi	38, Northgate, Hornsea, East Riding Of Yorkshire HU18 1ES	-	-	2	Semi-Detached House
£167.5K	10/20	0.47 mi	23, Swan Court, Hornsea, East Riding Of Yorkshire HU18 1LF	£2,617	64	2	Terraced House
£139.9K	06/23	0.5 mi	20, Cliff Terrace, Hornsea, East Riding Of Yorkshire HU18 1JA	-	-	2	Terraced House
£179.9K	03/23	0.51 mi	1, Elvaston Avenue, Hornsea, East Riding Of Yorkshire HU18 1HA	-	-	2	Semi-Detached House
£85K	04/23	0.51 mi	74, Ashcourt Drive, Hornsea, East Riding Of Yorkshire HU18 1HF	£1,268	67	2	Terraced House
£290K	12/20	0.58 mi	7, St Nicholas Drive, Hornsea, Humberside HU18 1EW	-	-	2	Detached House
£265K	08/23	0.61 mi	3, Shaftesbury Avenue, Hornsea, East Riding Of Yorkshire HU18 1LX	£2,855	93	2	Detached House
£240K	04/21	0.61 mi	14, Shaftesbury Avenue, Hornsea, East Riding Of Yorkshire HU18 1LX	£2,286	105	2	Semi-Detached House
£159K	02/21	0.61 mi	8, Shaftesbury Avenue, Hornsea, East Riding Of Yorkshire HU18 1LX	£2,695	59	2	Semi-Detached House
£265K	01/23	0.63 mi	4, Ambaston Road, Hornsea, East Riding Of Yorkshire HU18 1HB	£4,115	64	2	Detached House
£169.9K	11/20	0.65 mi	2, Belgrave Drive, Hornsea, East Riding Of Yorkshire HU18 1LU	£2,124	80	2	Semi-Detached House
£299.9K	01/23	0.73 mi	70, Eastgate, Hornsea, East Riding Of Yorkshire HU18 1LW	-	-	2	Detached House
£279.9K	08/22	0.77 mi	6, Chrystals Walk, Hornsea, East Riding Of Yorkshire HU18 1PL	£3,294	85	2	Detached House
£180K	06/21	0.79 mi	6, Chrystals Road, Hornsea, East Riding Of Yorkshire HU18 1PJ	£2,813	64	2	Semi-Detached House
£154.9K	10/21	0.86 mi	7, Cliff Road, Hornsea, Humberside HU18 1LL	£1,741	89	2	Terraced House
£195K	10/21	0.87 mi	59, New Road, Hornsea, East Riding Of Yorkshire HU18 1PH	£1,834	106	2	Semi-Detached House
£140K	04/23	0.87 mi	45, New Road, Hornsea, East Riding Of Yorkshire HU18 1PH	£1,972	71	2	Semi-Detached House
£115K	06/21	0.87 mi	45, New Road, Hornsea, East Riding Of Yorkshire HU18 1PH	£1,620	71	2	Semi-Detached House
£140K	05/22	0.97 mi	5, Mount Pleasant, Hornsea, East Riding Of Yorkshire HU18 1DX	-	-	2	Terraced House
£91K	10/20	0.97 mi	13, Eastgate View, Hornsea, East Riding Of Yorkshire HU18 1DT	£1,422	64	2	Terraced House
£120K	09/22	0.97 mi	14, Mount Pleasant, Hornsea, East Riding Of Yorkshire HU18 1DX	£1,679	71	2	Terraced House
£104.5K	07/21	0.99 mi	2, South Terrace, Hornsea, East Riding Of Yorkshire HU18 1QT	£1,056	99	2	Terraced House
£169.9K	09/22	0.99 mi	2, South Terrace, Hornsea, East Riding Of Yorkshire HU18 1QT	£1,717	99	2	Terraced House

Local Rents

28 rents from £350/mo to £1.4K/mo, average is £695/mo.

Rent	Date	Distance	Address	Beds	Type
£795	06/23	0.45 mi	-	3	Semi-Detached House
£850	08/24	0.45 mi	-	3	Semi-Detached House
£775	03/25	0.48 mi	-	3	Semi-Detached House
£795	04/24	0.5 mi	Cliff Terrace, Hornsea	4	House
£475	05/24	0.88 mi	-	1	Flat
£475	03/25	0.88 mi	-	1	Flat
£475	04/24	0.88 mi	New Road, Hornsea, HU18	1	Flat
£675	05/24	0.93 mi	Railway Street, Hornsea	2	Flat
£695	04/24	0.97 mi	Broadway, Hornsea	1	House
£575	04/24	0.97 mi	Broadway, Hornsea	1	House
£700	04/24	0.99 mi	Market Place, Hornsea, East Riding Of Yorkshire, HU18	2	Flat
£700	05/24	0.99 mi	Market Place, Hornsea, East Riding Of Yorkshire, HU18	2	Flat
£370	04/24	1.01 mi	Newbegin, Hornsea, HU18	1	Flat
£370	04/24	1.01 mi	-	1	Flat
£420	03/24	1.01 mi	-	1	Flat
£500	02/25	1.01 mi	-	1	Flat
£370	05/24	1.01 mi	-	1	Flat
£350	03/25	1.01 mi	-	1	Flat
£370	12/24	1.01 mi	-	1	Flat
£450	03/25	1.01 mi	-	1	Flat
£1,350	05/24	1.03 mi	-	2	Semi-Detached House
£1,350	08/24	1.03 mi	-	2	Semi-Detached House
£875	04/24	1.03 mi	Strickland Drive, Hornsea	3	House
£800	04/24	1.2 mi	Beckside, Hornsea	2	Bungalow
£750	01/25	1.64 mi	-	3	Terraced House
£695	04/24	1.65 mi	Pickering Avenue, Hornsea, East Riding Of Yorkshire, HU18	2	Semi-Detached House
£850	02/25	1.74 mi	-	2	Bungalow
£875	04/24	1.79 mi	Strickland Drive, Hornsea	3	House

Local Area Statistics

Population in HU18	8,6038,603
Town centre distance	1.57 miles away1.57 miles away
Nearest school	0.80 miles away0.80 miles away
Nearest train station	10.58 miles away10.58 miles away

Rental growth (12m)	-28%-28%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+38%+38%

Property History

Price changed to £158,500

January 8, 2025

Listed for £165,000

December 23, 2024

Floor Plans

Description

CHAIN FREE +
DETACHED +
TRUE BUNGALOW +
OFF ROAD PARKING AND GARAGE +
GARDENS FRONT AND REAR +
GREAT POTENTIAL +

CHAIN FREE

Our House are happy to present this true, two bedroom bungalow situated in an ideal location for a quiet hideaway in the seaside town of Hornsea.
In need of a full renovation and priced to sell, this Bungalow has the potential to be the perfect seaside home.

Briefly comprises; Lounge, Breakfast Kitchen, Dining Room, two double bedrooms and bathroom. Externally you will find a private driveway, front and rear gardens and garage.

Call Our House on for more information.

EPC - E
Council Tax - C
Tenure - Freehold

Front Garden - Laid to lawn with hedge boundaries. Driveway leading to garage with parking for one vehicle.

Entrance Hall - Entrance Door

Lounge - 4.54 x 4.4 (14'10" x 14'5") - Front aspect window with beamed ceiling. Gas fire with stone fireplace and panelled chimney breast. Original timber floorboards. Radiator.

Dining Room - 5.17 x 3.59 (16'11" x 11'9") - Patio doors to garden, coving to ceiling, laminate flooring and radiator.

Breakfast Kitchen - 4.53 x 3.57 (14'10" x 11'8") - One, side aspect window and two to the rear. Door leading to the rear and panelled walls. Fitted wall and base units with work surfaces. Single drainer, stainless steel bowl sink. Gas hob and built in electric cooker. Tiled Flooring.
Space for fridge freezer and under counted freezer, space and plumb for washing machine.

Inner Hall - Storage Cupboard.

Master Bedroom - 3.9 x 3.31 (12'9" x 10'10") - Front aspect window with built in wardrobes and radiator. Carpeted flooring.

Bedroom Two - 3.44 x 2.61 (11'3" x 8'6") - Side aspect window with built in wardrobes, carpeted flooring and radiator.

Bathroom - 2.1 x 1.93 (6'10" x 6'3") - Side aspect window, wash hand basin, W.C, panelled bath, fully tiled walls and radiator.

Rear Garden - Laid mainly to lawn with fenced boundaries, shrubs and fruit trees.

Garage - Barn style doors, light points.

Agent Details

Our House Estate Agents, Hornsea

01964 775308

Next Steps?

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

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