5 Bed HMO, Cleethorpes, DN35 7PB £120,000

93 Freeston Street, Cleethorpes, Lincolnshire, DN35 7PB - 1 views - 10 months ago

HMO

Outside Article 4

ROI: 29%

115 m²

+3 photos

ValuationUndervalued

Sold Prices	£105K - £600K
Sold Prices/m²	£701/m² - £4.2K/m²

Square Metres	115 m²
Price/m²	£1K/m²
Value Estimate	£145,200£145,200
BMV	21%

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£30,000£30,000
Stamp Duty & Legal Fees	£7,200£7,200
Total Cash In	£37,200£37,200

Cash Out
Room Rate	£450£450
Gross Rent	£2,250£2,250
Running Costs/mo	£1,353£1,353
Cashflow/mo	£898£898
Cashflow/yr	£10,770£10,770
ROI	29%29%
Gross Yield	23%23%

Local Sold Prices

30 sold prices from £105K to £600K, average is £322.5K. £701/m² to £4.2K/m², average is £1.5K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£115K	09/23	0.41 mi	53, Harrington Street, Cleethorpes, North East Lincolnshire DN35 7BD	£972	118	5	Terraced House
£105K	09/23	0.41 mi	57, Harrington Street, Cleethorpes, North East Lincolnshire DN35 7BD	£719	146	5	Terraced House
£145K	03/23	0.96 mi	53, Hare Street, Grimsby, North East Lincolnshire DN32 9LA	-	-	5	Terraced House
£300K	01/23	1.05 mi	2, Elm Gardens, Cleethorpes, North East Lincolnshire DN35 8DB	-	-	5	Semi-Detached House
£110K	06/21	1.09 mi	71, Mill Road, Cleethorpes, North East Lincolnshire DN35 8JB	£701	157	5	Terraced House
£325K	02/25	1.13 mi	49, Hunsley Crescent, Grimsby DN32 8PU	-	-	5	Detached House
£220.3K	01/23	1.31 mi	10, Blenheim Place, Cleethorpes, North East Lincolnshire DN35 9BG	£2,118	104	5	Semi-Detached House
£480K	12/24	1.38 mi	39, Park Drive, Grimsby DN32 0EG	£2,308	208	5	Detached House
£480K	12/24	1.38 mi	39, Park Drive, Grimsby DN32 0EG	-	-	5	Detached House
£450K	03/23	1.39 mi	23, Welholme Road, Grimsby, North East Lincolnshire DN32 0DR	£1,406	320	5	Semi-Detached House
£315K	09/21	1.4 mi	6, Abbey Road, Grimsby, North East Lincolnshire DN32 0HQ	-	-	5	Semi-Detached House
£395K	06/21	1.43 mi	74, Weelsby Road, Grimsby, North East Lincolnshire DN32 0PS	£1,531	258	5	Detached House
£330K	05/21	1.46 mi	39, Abbey Park Road, Grimsby, North East Lincolnshire DN32 0HS	£1,944	170	5	Semi-Detached House
£290K	04/25	1.5 mi	42, Ashby Road, Cleethorpes DN35 9PQ	£1,921	151	5	Semi-Detached House
£300K	06/25	1.5 mi	33, Weelsby Road, Grimsby DN32 0QA	-	-	5	Detached House
£530K	08/24	1.51 mi	3, Park Drive, Grimsby DN32 0EE	£1,726	307	5	Detached House
£530K	08/24	1.51 mi	3, Park Drive, Grimsby DN32 0EE	-	-	5	Detached House
£600K	07/22	1.52 mi	8, Park Drive, Grimsby, North East Lincolnshire DN32 0EE	£1,442	416	5	Detached House
£420K	03/23	1.58 mi	27, Weelsby Road, Grimsby, North East Lincolnshire DN32 0QA	£1,544	272	5	Semi-Detached House
£150K	10/24	1.59 mi	7, Queens Parade, Grimsby DN31 2LE	£811	185	5	Semi-Detached House
£150K	10/24	1.59 mi	7, Queens Parade, Grimsby DN31 2LE	-	-	5	Semi-Detached House
£382K	03/23	1.61 mi	75, Welholme Avenue, Grimsby, North East Lincolnshire DN32 0PL	£1,415	270	5	Semi-Detached House
£325K	12/22	1.64 mi	181, Chichester Road, Cleethorpes, North East Lincolnshire DN35 0JN	£4,221	77	5	Semi-Detached House
£268K	09/23	1.74 mi	2, Redwood Drive, Cleethorpes, North East Lincolnshire DN35 0RN	-	-	5	Semi-Detached House
£340K	06/21	1.83 mi	19, Eastwood Avenue, Grimsby, North East Lincolnshire DN34 5BE	-	-	5	Detached House
£320K	10/21	1.94 mi	4, Northumberland Close, Grimsby, North East Lincolnshire DN34 4TE	-	-	5	Detached House
£450K	02/23	1.95 mi	15, Kings Road, Cleethorpes, North East Lincolnshire DN35 0AH	£2,616	172	5	Detached House
£230K	02/25	1.95 mi	52, Scartho Road, Grimsby DN33 2AD	£1,337	172	5	Semi-Detached House
£390K	11/24	1.97 mi	43, Chichester Road, Cleethorpes DN35 0HY	£1,733	225	5	Detached House
£239.9K	06/21	1.99 mi	34, St Helens Avenue, Grimsby, North East Lincolnshire DN33 2AH	£1,034	232	5	Detached House

Local Area Statistics

Population in DN35	34,52634,526
Population in Cleethorpes	34,53034,530
Town centre distance	1.28 miles away1.28 miles away
Nearest school	0.20 miles away0.20 miles away
Nearest train station	0.57 miles away0.57 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+24%+24%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+23%+23%

Property History

Listed for £120,000

January 13, 2025

Sold for £99,950

2007

Sold for £32,000

1999

Floor Plans

Description

VIDEO VIEWING AVAILABLE +
Potential 5 Bedroom HMO For Sale +
Newly Refurbished Property +
Well Sought-After Location In Cleethorpes +
Detached Garage +
Off-Street Parking +

Welcome to 93 Freeston Street, a prime investment opportunity nestled in the heart of Cleethorpes. This potential HMO property offers a wealth of potential for investors looking to capitalize on the thriving rental market. With its strategic location and versatile layout, 93 Freeston Street presents a lucrative opportunity to generate passive income and achieve substantial returns.
The property has undergone refurbishment from a residential dwelling into a ready-to-go HMO property, that benefits from a detached garage, new smoke alarms, carpets and windows and offers a blank canvas for investors to maximise rental income.
Do not miss out on this exclusive opportunity to own a piece of Cleethorpes' thriving rental market. Contact us today to learn more about 93 Freeston Street and take the first step towards realizing your investment goals.
This property does not yet have a HMO license.