3 Bed Terraced House, Refurb/BRRR, Gainsborough, DN21 1DD, £50,000

Sandsfield Lane , Gainsborough, DN21 1DD - 107 views - 3 months ago

Refurb/BRRR

Negative Equity

ROI: 6%

~93 m²

+3 photos

ValuationFair Value

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Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£12,500£12,500
Stamp Duty & Legal Fees	£2,700£2,700
Refurb Costs	£37,686£37,686
Bridging Loan Interest	£1,313£1,313
Total Cash In	£55,948£55,948

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£84,672£84,672
Mortgage (After Refinance)	£63,504£63,504
Mortgage LTV	75%75%
Cash Released	£26,004£26,004
Cash Left In	£29,944£29,944
Equity	£21,168£21,168
Rent Range	£575 - £945£575 - £945
Rent Estimate	£713
Running Costs/mo	£427£427
Cashflow/mo	£286£286
Cashflow/yr	£3,430£3,430
ROI	6%6%
Gross Yield	17%17%

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Local Rents

14 rents from £575/mo to £945/mo, average is £688/mo.

Rent	Date	Distance	Address	Beds	Type
£750	11/24	0.05 mi	-	3	Terraced House
£650	01/25	0.06 mi	-	3	Terraced House
£650	02/25	0.06 mi	-	3	Terraced House
£650	03/25	0.08 mi	-	3	Terraced House
£750	10/23	0.1 mi	-	3	Semi-Detached House
£575	12/24	0.21 mi	Trent Street, Gainsborough	3	Terraced House
£600	11/24	0.29 mi	-	3	Terraced House
£625	03/25	0.34 mi	-	3	Terraced House
£760	03/25	0.71 mi	-	3	Terraced House
£625	12/24	0.76 mi	Glentham Road, Gainsborough	3	Flat
£945	12/24	0.76 mi	-	3	Semi-Detached House
£800	12/24	0.83 mi	Parish Mews, Gainsborough, DN21	3	Terraced House
£775	01/25	1.06 mi	-	3	Terraced House
£725	12/24	1.22 mi	-	3	Terraced House

Local Area Statistics

Population in DN21	36,96936,969
Population in Gainsborough	37,06637,066
Town centre distance	0.81 miles away0.81 miles away
Nearest school	0.10 miles away0.10 miles away
Nearest train station	0.34 miles away0.34 miles away

Rental demand	Landlord's marketLandlord's market
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+20%+20%

Property History

Listed for £50,000

-77%

December 23, 2024

Sold for £88,500

2010

Sold for £30,950

1996

Description

Investment Property +
Close To All Amenities +
Two Reception Rooms +
On-Street Parking +

Martin & Co are delighted to present this property to the open sales market.

Located upon Sandsfield Lane in Gainsborough this property benefits from its location as it is located within a close proximity to all local amenities, schools and surgeries.

The accommodation comprises of a kitchen, lounge/diner to the ground floor, to the first floor there are two bedrooms and a family bathroom, there are also stairs leading to the 2nd floor which hosts the attic room.

This property need a full renovation and viewings are highly recommended.