2 Bed Semi-Detached House, Refurb/BRRR, Grimsby, DN41 7QH, £125,000

Wells Road, Healing, Grimsby, Lincolnshire, DN41 7QH - 5 views - 3 months ago

Refurb/BRRR

ROI: 3%

~68 m²

+12 photos

ValuationFair Value

Sold Prices	£75K - £225K
Sold Prices/m²	£1.3K/m² - £3.3K/m²

Square Metres	~68.11 m²
Price/m²	£1.8K/m²
Value Estimate	£127,500£127,500

End Value (After Refurb)	£141,051£141,051
Uplift in Value	+13%+13%

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£31,250£31,250
Stamp Duty & Legal Fees	£4,950£4,950
Refurb Costs	£27,537£27,537
Bridging Loan Interest	£3,281£3,281
Total Cash In	£68,769£68,769

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£141,051£141,051
Mortgage (After Refinance)	£105,788£105,788
Mortgage LTV	75%75%
Cash Released	£12,038£12,038
Cash Left In	£56,730£56,730
Equity	£35,263£35,263
Rent Range	£490 - £1,600£490 - £1,600
Rent Estimate	£826
Running Costs/mo	£626£626
Cashflow/mo	£200£200
Cashflow/yr	£2,400£2,400
ROI	3%3%
Gross Yield	8%8%

Local Sold Prices

37 sold prices from £75K to £225K, average is £150K. £1.3K/m² to £3.3K/m², average is £2.2K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£129.5K	06/21	1.04 mi	13, Cornflower Close, Healing, Grimsby, North East Lincolnshire DN41 7JR	£2,195	59	2	Terraced House
£130K	11/21	1.06 mi	33d, Wisteria Drive, Healing, Grimsby, North East Lincolnshire DN41 7JB	£2,031	64	2	Terraced House
£125K	05/21	1.11 mi	33b, Wisteria Drive, Healing, Grimsby, North East Lincolnshire DN41 7JB	£1,838	68	2	Terraced House
£145K	04/22	1.13 mi	25, Saxonfields Drive, Stallingborough, Grimsby, North East Lincolnshire DN41 8FN	£2,164	67	2	Terraced House
£150K	09/22	1.14 mi	29, Saxonfields Drive, Stallingborough, Grimsby, North East Lincolnshire DN41 8FN	-	-	2	Terraced House
£147.5K	02/23	1.14 mi	4, Poppy Mews, Healing, Grimsby, North East Lincolnshire DN41 7JU	£1,993	74	2	Terraced House
£140K	12/21	1.15 mi	7, Poppy Mews, Healing, Grimsby, North East Lincolnshire DN41 7JU	£2,090	67	2	Terraced House
£75K	01/22	1.17 mi	26, Leggott Way, Stallingborough, Grimsby, North East Lincolnshire DN41 8BB	£1,316	57	2	Terraced House
£150K	10/21	1.17 mi	38, Leggott Way, Stallingborough, Grimsby, North East Lincolnshire DN41 8BB	-	-	2	Semi-Detached House
£150K	11/20	1.17 mi	39, Leggott Way, Stallingborough, Grimsby, North East Lincolnshire DN41 8BB	£2,308	65	2	Detached House
£167K	08/22	1.24 mi	Claremont, Rookery Road, Healing, Grimsby, North East Lincolnshire DN41 7PR	£1,876	89	2	Detached House
£155K	04/23	1.25 mi	7, The Limes, Stallingborough, Grimsby, North East Lincolnshire DN41 8AG	-	-	2	Detached House
£215K	09/22	1.35 mi	46, Station Road, Healing, Grimsby, North East Lincolnshire DN41 7LY	£3,028	71	2	Semi-Detached House
£145K	04/21	1.35 mi	14, Station Road, Healing, Grimsby, North East Lincolnshire DN41 7LY	£1,751	83	2	Terraced House
£197.3K	09/22	1.35 mi	48, Station Road, Healing, Grimsby, North East Lincolnshire DN41 7LY	£2,694	73	2	Semi-Detached House
£179K	06/21	1.43 mi	8, Clarkson Drive, Stallingborough, Grimsby, North East Lincolnshire DN41 8BQ	-	-	2	Detached House
£225K	07/22	1.44 mi	23, Clarkson Drive, Stallingborough, Grimsby, North East Lincolnshire DN41 8BQ	£3,261	69	2	Detached House
£95K	02/21	1.45 mi	Lilac Cottage, Rowan Drive, Healing, Grimsby, North East Lincolnshire DN41 7RF	£1,418	67	2	Semi-Detached House
£95K	02/21	1.45 mi	Lilac Cottage, Rowan Drive, Healing, Grimsby, North East Lincolnshire DN41 7RF	£1,418	67	2	Semi-Detached House
£183K	03/21	1.46 mi	2, Maple Grove, Healing, Grimsby, North East Lincolnshire DN41 7NJ	£2,288	80	2	Semi-Detached House
£200K	02/23	1.46 mi	2, Maple Grove, Healing, Grimsby, North East Lincolnshire DN41 7NJ	£2,500	80	2	Semi-Detached House
£140K	03/21	1.48 mi	81, Station Road, Healing, Grimsby, North East Lincolnshire DN41 7RG	£3,111	45	2	Semi-Detached House
£168K	07/22	1.48 mi	71, Station Road, Healing, Grimsby, North East Lincolnshire DN41 7RG	£1,846	91	2	Terraced House
£138.5K	12/21	1.49 mi	65, Station Road, Healing, Grimsby, North East Lincolnshire DN41 7RG	£1,689	82	2	Terraced House
£126K	01/23	1.81 mi	4, Southwell Court, Keelby, Grimsby, Lincolnshire DN41 8SW	£2,280	55	2	Terraced House
£120K	05/21	1.81 mi	7, Southwell Court, Keelby, Grimsby, Lincolnshire DN41 8SW	£2,177	55	2	Semi-Detached House
£135K	01/22	1.85 mi	13, Raithby Avenue, Keelby, Grimsby, Lincolnshire DN41 8SH	£2,547	53	2	Terraced House
£127K	11/20	1.86 mi	63, Raithby Avenue, Keelby, Grimsby, Lincolnshire DN41 8SH	£2,228	57	2	Semi-Detached House
£122.5K	06/22	1.86 mi	15, Raithby Avenue, Keelby, Grimsby, Lincolnshire DN41 8SH	£2,008	61	2	Terraced House
£158K	03/23	1.88 mi	3b, Butt Lane, Laceby, Grimsby, North East Lincolnshire DN37 7BB	-	-	2	Terraced House
£168K	10/23	1.88 mi	3e, Butt Lane, Laceby, Grimsby, North East Lincolnshire DN37 7BB	£2,507	67	2	Terraced House
£135.5K	06/21	1.88 mi	3e, Butt Lane, Laceby, Grimsby, North East Lincolnshire DN37 7BB	£2,022	67	2	Terraced House
£170K	10/22	1.92 mi	1, St Peters Grove, Laceby, Grimsby, North East Lincolnshire DN37 7HD	£2,787	61	2	Semi-Detached House
£150K	11/20	1.93 mi	12, Cotham Gardens, Keelby, Grimsby, Lincolnshire DN41 8RB	£2,344	64	2	Semi-Detached House
£180K	06/22	1.93 mi	12, Cotham Gardens, Keelby, Grimsby, Lincolnshire DN41 8RB	£2,813	64	2	Semi-Detached House
£153.8K	05/21	1.98 mi	108, Albatross Drive, Grimsby, North East Lincolnshire DN37 9PE	£2,365	65	2	Detached House
£151K	06/21	1.98 mi	112, Albatross Drive, Grimsby, North East Lincolnshire DN37 9PE	£2,288	66	2	Detached House

Local Rents

23 rents from £490/mo to £1.6K/mo, average is £795/mo.

Rent	Date	Distance	Address	Beds	Type
£1,600	12/24	0.88 mi	Manor Farm Barns, Wells Road, Healing	4	Flat
£795	12/24	0.99 mi	Quantock Gardens, Healing, Grimsby, Lincolnshire, DN41	3	Detached House
£925	02/25	1.1 mi	-	3	Detached House
£600	12/24	1.18 mi	Leggott Way, Stallingborough, Grimsby, DN41	2	Flat
£795	12/24	1.22 mi	Poachers Rise,Stallingborough	3	Detached House
£1,250	12/24	1.24 mi	Clematis Avenue, Healing, Lincolnshire, DN41	4	Detached House
£1,200	03/25	1.5 mi	-	3	Detached House
£750	12/24	1.58 mi	Webster Mews, Healing, DN41	2	Terraced House
£800	12/24	1.72 mi	Ashleigh Court, Healing	3	Terraced House
£725	12/24	2.04 mi	Old Chapel Lane, Laceby, DN37	2	Bungalow
£850	12/24	2.08 mi	Defender Drive, Grimsby, Lincolnshire, DN37	3	Detached House
£650	04/24	2.15 mi	Caistor Road, Laceby, Grimsby, Lincolnshire, DN37	2	Flat
£490	12/24	2.18 mi	St Nicholas Drive, Grimsby, NE Lincolnshire, DN37	1	Flat
£895	12/24	2.18 mi	St. Nicholas Drive, Wybers Wood, Grimsby, DN37	3	Semi-Detached House
£575	03/24	2.19 mi	Caistor Road, Laceby, DN37 7JB	2	Flat
£950	04/24	2.2 mi	Sanctuary Way, Grimsby, North East Lincs, DN37	4	Semi-Detached House
£750	10/24	2.23 mi	-	3	Semi-Detached House
£715	12/24	2.23 mi	Grimsby Road, Laceby, Grimsby DN37 7DW	2	Semi-Detached House
£690	12/24	2.23 mi	Grimsby Road, Laceby, DN37 7DW	2	Semi-Detached House
£725	03/24	2.23 mi	Sanctuary Way, Grimsby, DN37	3	Flat
£1,200	04/24	2.25 mi	Caistor Road, Laceby, Grimsby, Lincolnshire, DN37	4	Bungalow
£550	08/23	2.44 mi	-	2	Terraced House
£895	02/25	2.48 mi	-	3	Terraced House

Local Area Statistics

Population in DN41	6,2796,279
Population in Grimsby	124,581124,581
Town centre distance	4.15 miles away4.15 miles away
Nearest school	1.20 miles away1.20 miles away
Nearest train station	1.35 miles away1.35 miles away

Rental growth (12m)	-11%-11%
Sales demand	Buyer's marketBuyer's market
Capital growth (5yrs)	+23%+23%

Property History

Listed for £125,000

January 17, 2025

Floor Plans

Description

Quaint 2-bedroom semi-detached home in Healing. +
Semi-rural location offering peace and charm. +
Ripe for modernisation and personalisation. +
New septic tank recently installed. +
Extensive UPVC double glazing throughout. +
Wall-mounted electric heating system. +
Ideal project to add value and create your dream home. +
Priced to reflect the potential for improvement. +

Nestled in the picturesque semi-rural setting of Healing, this quaint 2-bedroom semi-detached home exudes charm and potential. Ideal for those seeking a project, this property is ripe for modernisation and updating, offering a blank canvas for personalisation. Priced to reflect the opportunity for improvement, the house features a new septic tank and benefits from extensive UPVC double glazing and wall-mounted electric heating. With a little TLC, this home has the potential to be transformed into a cosy retreat in a peaceful location. Embrace the chance to create your dream home and add value to this property. Contact us today to arrange a viewing and envision the possibilities that await in this lovely semi-rural abode in Healing.

Agent Details

Jackson, Green and Preston, Grimsby

01472 404357

Next Steps?

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