3 Bed Bungalow, Refurb/BRRR, Grimsby, DN36 4HT, £220,000

The Cloisters, Humberston, Grimsby, N E Lincs, DN36 4HT - 3 months ago

Refurb/BRRR
ROI: 2%
~74 m²
+12 photos

ValuationOvervalued

Sold Prices£80K - £372.5K
Sold Prices/m²£1K/m² - £5.9K/m²

 

 

Square Metres

~74.14 m²
Price/m²£3K/m²

Value Estimate

£161,500

 

 

End Value (After Refurb)

£215,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£55,000

Stamp Duty & Legal Fees

£12,200

Refurb Costs

£29,982

Bridging Loan Interest

£5,775

Total Cash In

£104,707

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£215,000

Mortgage (After Refinance)

£161,250

Mortgage LTV

75%

Cash Left In

£104,707

Equity

£53,750

Rent Range

£750 - £3,337

Rent Estimate

£1,131

Running Costs/mo

£918

Cashflow/mo

£213

Cashflow/yr

£2,555

ROI

2%

Gross Yield

6%

Local Sold Prices

50 sold prices from £80K to £372.5K, average is £199K. £1K/m² to £5.9K/m², average is £2.4K/m².

PriceDateDistanceAddressBeds 
£265K01/230.08 mi21, Church Lane, Humberston, Grimsby, North East Lincolnshire DN36 4HZ3
£230K12/200.08 mi15, Church Lane, Humberston, Grimsby, North East Lincolnshire DN36 4HZ3
£225K04/210.09 mi10, Richardson Close, Humberston, Grimsby, North East Lincolnshire DN36 4HY3
£265K11/200.11 mi72, Church Avenue, Humberston, Grimsby, North East Lincolnshire DN36 4HP3
£160K10/210.16 mi20, Woodfield Close, Humberston, Grimsby, North East Lincolnshire DN36 4UW3
£240K06/230.16 mi10, Woodfield Close, Humberston, Grimsby, North East Lincolnshire DN36 4UW3
£219.9K08/230.17 mi32, Midfield Road, Humberston, Grimsby, North East Lincolnshire DN36 4TH3
£287.5K10/220.17 mi251, Humberston Avenue, Humberston, Grimsby, North East Lincolnshire DN36 4JA3
£180K04/230.19 mi9, Barn Owl Close, Humberston, Grimsby, North East Lincolnshire DN36 4SH3
£158K03/210.2 mi13, St Mathews Road, Humberston, Grimsby, North East Lincolnshire DN36 4EE3
£372.5K12/220.21 mi19a, Tetney Road, Humberston, Grimsby, North East Lincolnshire DN36 4JE3
£160K12/220.28 mi12, St Johns Road, Humberston, Grimsby, North East Lincolnshire DN36 4DY3
£245K04/210.31 mi6, The Crofts, Humberston, Grimsby, North East Lincolnshire DN36 4DN3
£185K07/230.31 mi35, Glebe Road, Humberston, Grimsby, North East Lincolnshire DN36 4JP3
£235K01/230.31 mi10, Sinderson Road, Humberston, Grimsby, North East Lincolnshire DN36 4UF3
£249.4K12/200.32 mi41, Tetney Road, Humberston, Grimsby, North East Lincolnshire DN36 4JQ3
£242K06/230.32 mi53, Tetney Road, Humberston, Grimsby, North East Lincolnshire DN36 4JQ3
£190K06/210.33 mi22, Glebe Road, Humberston, Grimsby, North East Lincolnshire DN36 4JR3
£145K07/220.33 mi14, Glebe Road, Humberston, Grimsby, North East Lincolnshire DN36 4JR3
£180K01/230.34 mi53, St Christophers Road, Humberston, Grimsby, North East Lincolnshire DN36 4EA3
£142K02/210.35 mi40, Fieldhouse Road, Humberston, Grimsby, North East Lincolnshire DN36 4UJ3
£320K04/230.37 mi29, Queen Elizabeth Road, Humberston, Grimsby, North East Lincolnshire DN36 4DQ3
£169.9K03/230.37 mi16, Queen Elizabeth Road, Humberston, Grimsby, North East Lincolnshire DN36 4DD3
£185K05/210.38 mi10, Church Avenue, Humberston, Grimsby, North East Lincolnshire DN36 4DB3
£160K03/210.38 mi8a, Lime Grove, Humberston, Grimsby, North East Lincolnshire DN36 4JW3
£310K08/230.39 mi82, Tetney Road, Humberston, Grimsby, North East Lincolnshire DN36 4JJ3
£145K06/210.4 mi31, Sinderson Road, Humberston, Grimsby, North East Lincolnshire DN36 4TY3
£203.5K12/200.42 mi23, Hewson Road, Humberston, Grimsby, North East Lincolnshire DN36 4UD3
£190K04/210.43 mi11, Paul Crescent, Humberston, Grimsby, North East Lincolnshire DN36 4DF3
£263.8K06/230.43 mi6, Chapman Crescent, Humberston, Grimsby, North East Lincolnshire DN36 4UE3
£190K11/200.43 mi9, Chapman Crescent, Humberston, Grimsby, North East Lincolnshire DN36 4UE3
£235K01/230.46 mi306, Grimsby Road, Humberston, Grimsby, North East Lincolnshire DN36 4AA3
£198K03/210.46 mi324, Grimsby Road, Humberston, Grimsby, North East Lincolnshire DN36 4AA3
£210K12/200.46 mi308, Grimsby Road, Humberston, Grimsby, North East Lincolnshire DN36 4AA3
£215K08/210.48 mi23, Lidgard Road, Humberston, Grimsby, North East Lincolnshire DN36 4XJ3
£270K09/230.49 mi60, Sinderson Road, Humberston, Grimsby, North East Lincolnshire DN36 4UB3
£140K03/210.52 mi2, Hurst Lea Drive, Humberston, Grimsby, North East Lincolnshire DN36 4XG3
£193K02/210.53 mi94, Coniston Crescent, Humberston, Grimsby, North East Lincolnshire DN36 4AB3
£301K07/230.53 mi32, Westbury Road, Cleethorpes, North East Lincolnshire DN35 0QE3
£299.9K10/220.54 mi76, Westbury Road, Cleethorpes, North East Lincolnshire DN35 0QL3
£125K11/200.56 mi14, Delamere Court, Cleethorpes, North East Lincolnshire DN35 0TT3
£150K07/230.56 mi7, Delamere Court, Cleethorpes, North East Lincolnshire DN35 0TT3
£144.5K08/230.56 mi11, Delamere Court, Cleethorpes, North East Lincolnshire DN35 0TT3
£200K02/210.56 mi118, North Sea Lane, Humberston, Grimsby, North East Lincolnshire DN36 4XE3
£220K01/210.59 mi10, Mayfair Court, Cleethorpes, North East Lincolnshire DN35 0QG3
£187K03/210.59 mi30, Forest Way, Humberston, Grimsby, North East Lincolnshire DN36 4HQ3
£150K01/210.59 mi13, Poplar Drive, Humberston, Grimsby, North East Lincolnshire DN36 4XD3
£205K12/200.6 mi7, Fairfield Court, Cleethorpes, North East Lincolnshire DN35 0QW3
£185K02/230.6 mi25, Westport Road, Cleethorpes, North East Lincolnshire DN35 0QF3
£80K05/210.61 mi14, Meadow View, Cleethorpes, North East Lincolnshire DN35 0QU3

Local Rents

10 rents from £750/mo to £3.3K/mo, average is £900/mo.

RentDateDistanceAddressBeds 
£92504/240.03 miFern Close, Humberston, Grimsby, DN363
£90503/240.03 miFern Close, Humberston, Grimsby, Lincolnshire, DN363
£89504/240.39 miQueen Elizabeth Road, Humberston, Grimsby3
£92503/240.52 miAlder Avenue, Humberston, Grimsby, Lincolnshire, DN363
£85001/250.56 mi-3
£87503/240.72 miPrimrose Way, Cleethorpes3
£89503/241.03 miParklands Avenue, Humberston, Grimsby, Lincolnshire, DN363
£3,33702/251.13 mi-3
£75003/241.17 miCottesmore Road, Cleethorpes3
£95003/241.2 miPytchley Walk, Cleethorpes, DN353

Local Area Statistics

Population in DN36

19,164

Population in Grimsby

124,581

Town centre distance

3.53 miles away

Nearest school

0.20 miles away

Nearest train station

2.30 miles away

 

 

Rental growth (12m)

-31%

Sales demand

Buyer's market

Capital growth (5yrs)

+14%

Property History

Listed for £220,000

December 23, 2024

Floor Plans

Description

  • Desirable Location: Situated on The Cloisters, Humberston, with views of Saint Peter’s Church and close to The Gingerbread House Tea Room. +
  • No Onward Chain: Simplifies the buying process, offering a quick and hassle-free purchase. +
  • Spacious Living: Generous lounge with feature fireplace, kitchen with dining area overlooking the rear garden. +
  • Flexible Accommodation: Two double bedrooms and a single bedroom, ideal as a home office or dressing room. +
  • Outdoor Appeal: Front garden, gated driveway parking, mature rear garden with lawn, patio, and garage. +
  • Convenient Amenities: Close to Humberston Country Club, schools, and local conveniences. +

Charming Three-Bedroom Bungalow – No Onward Chain

Nestled in the heart of the desirable Humberston community, this delightful three-bedroom bungalow offers the perfect opportunity to create your dream home. With its sought-after location and the added benefit of no onward chain.

Nestled in the heart of the desirable Humberston community, this delightful three-bedroom bungalow offers the perfect opportunity to create your dream home. With its sought-after location and the added benefit of no onward chain, this property is ideal for those looking to embrace one-level living in a peaceful setting.

Upon entering, you are welcomed by a spacious entrance hall that leads to the heart of the home. The lounge boasts generous proportions, a feature fireplace, and an inviting ambiance. The kitchen, equipped with a range of base and wall units, is complemented by a charming brick archway that opens into the dining area, where you can enjoy views over the mature rear garden.

The bungalow features two well-proportioned double bedrooms and a versatile single bedroom, perfect for use as a home office or dressing room. A family bathroom completes the interior accommodation.

Externally, the property offers a front garden and gated off-road parking on the driveway. The rear garden is a tranquil retreat, featuring a lawn, mature shrubs, a patio area, and a detached garage. From the front outside space, you’ll enjoy picturesque views of the historic Saint Peter’s Church in Humberston.

Situated close to The Gingerbread House Tea Room and just a 13-minute walk (or 2-minute drive) to Humberston Country Club, the property also benefits from excellent access to schools for all ages.

This bungalow would benefit from modernisation, making it a fantastic opportunity for those seeking to add their own personal touch to a home in a highly sought-after location.

Don’t miss your chance to view this property – contact us today to arrange a viewing.

Agent Details

DDM Residential, Grimsby

01472 404591

Next Steps?

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