2 Bed Flat, Single Let, Grimsby, DN37 9LY, £55,000

211C8 Matlock Drive, Grimsby, DN37 9LY - 3 months ago

Leasehold
BTL
ROI: 11%
~59 m²
+14 photos

ValuationUndervalued

Sold Prices£42.5K - £105K
Sold Prices/m²£833/m² - £1.6K/m²

 

 

Square Metres

~59.30 m²
Price/m²£927/m²

Value Estimate

£68,200
BMV24%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£13,750

Stamp Duty & Legal Fees

£3,950

Total Cash In

£17,700

 

 

Cash Out

 

Rent Range

£450 - £950

Rent Estimate

£450

Running Costs/mo

£282

Cashflow/mo

£168

Cashflow/yr

£2,018

ROI

11%

Gross Yield

10%

Local Sold Prices

21 sold prices from £42.5K to £105K, average is £84K. £833/m² to £1.6K/m², average is £1.3K/m².

PriceDateDistanceAddressBeds 
£55.5K07/210.32 mi3, Solway Court, Grimsby, North East Lincolnshire DN37 9DF2
£55.5K07/210.32 mi3, Solway Court, Grimsby, North East Lincolnshire DN37 9DF2
£55.5K07/210.32 mi3, Solway Court, Grimsby, North East Lincolnshire DN37 9DF2
£55.5K07/210.32 mi3, Solway Court, Grimsby, North East Lincolnshire DN37 9DF2
£104.5K11/220.52 mi8, Holly Mews, Grimsby, North East Lincolnshire DN34 4GL2
£105K10/220.52 mi2, Holly Mews, Grimsby, North East Lincolnshire DN34 4GL2
£80K06/220.88 mi87, Faulding Way, Grimsby, North East Lincolnshire DN37 9SD2
£89K08/210.91 mi89a, Faulding Way, Grimsby, North East Lincolnshire DN37 9SD2
£82K04/220.91 mi89, Faulding Way, Grimsby, North East Lincolnshire DN37 9SD2
£89K08/210.91 mi89a, Faulding Way, Grimsby, North East Lincolnshire DN37 9SD2
£90K11/210.91 mi14, Clare Court, Grimsby, North East Lincolnshire DN34 5UU2
£87K12/210.91 mi5, Kings Court, Grimsby, North East Lincolnshire DN34 5TS2
£100K03/210.91 mi12, Kings Court, Grimsby, North East Lincolnshire DN34 5TS2
£67.5K05/210.92 mi20, Queens Court, Grimsby, North East Lincolnshire DN34 5TT2
£102.5K08/220.92 mi9, Queens Court, Grimsby, North East Lincolnshire DN34 5TT2
£90K12/220.92 mi20, Queens Court, Grimsby, North East Lincolnshire DN34 5TT2
£84K05/220.92 mi19, Queens Court, Grimsby, North East Lincolnshire DN34 5TT2
£80K08/230.93 mi9, St Johns Court, Grimsby, North East Lincolnshire DN34 5TE2
£95K11/220.93 mi7, St Johns Court, Grimsby, North East Lincolnshire DN34 5TE2
£80K06/210.93 mi3, St Johns Court, Grimsby, North East Lincolnshire DN34 5TE2
£42.5K01/210.95 mi71a, Cromwell Road, Grimsby, North East Lincolnshire DN31 2DN2

Local Rents

47 rents from £450/mo to £950/mo, average is £600/mo.

RentDateDistanceAddressBeds 
£60003/240.42 miFinchley Court, Grimsby, Lincolnshire, DN312
£72508/240.47 mi-2
£67512/240.49 miAllington Drive, Great Coates, Grimsby, Lincolnshire, DN372
£59510/230.57 mi-2
£60003/240.61 mi8 Bowers Avenue, Grimsby2
£60003/240.62 miBowers Avenue, Grimsby2
£75004/240.71 miGirton Road, Grimsby2
£63008/230.71 mi-2
£60003/250.75 mi-2
£62503/240.75 miLister Street, Grimsby2
£45003/240.79 miLynton Parade, Grimsby2
£65001/240.8 mi-2
£65001/240.8 mi-2
£50003/240.83 mi-2
£60003/240.83 miBoulevard Avenue, Grimsby2
£57503/240.86 miJoseph Street, Grimsby, Lincolnshire, DN312
£52508/240.89 mi-2
£55002/250.89 mi-2
£56411/240.92 mi-2
£60003/240.93 miLittle Michael Street, Grimsby2
£67503/240.94 miBramble Close, Grimsby2
£55003/240.95 miHaycroft Avenue, Grimsby2
£52503/240.95 miHaycroft Street, Grimsby, Lincolnshire, DN312
£49003/240.96 miHaycroft Avenue, Grimsby2
£50003/250.97 mi-2
£55003/240.97 miSaunders Street, Grimsby, Lincolnshire, DN312
£62503/241.02 miMacaulay Street, Grimsby, Lincolnshire, DN312
£55003/241.03 miMacaulay Street, Grimsby, DN312
£55005/241.03 miMacaulay Street, Grimsby2
£49503/241.03 miRipon Street, Grimsby2
£57504/241.04 miRipon Street, Grimsby, Lincolnshire, DN312
£53503/241.07 mi-2
£53503/241.07 mi-2
£65003/251.12 mi-2
£48503/241.12 miDover Street, Grimsby2
£84004/241.12 miMacaulay Park, Grimsby, DN312
£84003/241.12 miDane Park, Hull, HU62
£95004/241.14 miPelham Road, Grimsby, DN342
£59504/241.16 miWaterside Drive, Grimsby, Lincolnshire, DN312
£65004/241.16 miWaterside Drive, Grimsby2
£45003/241.16 miQueens Parade, Grimsby, DN312
£45002/251.16 mi-2
£68003/241.19 miBroadway, Grimsby, Lincolnshire, DN342
£52011/241.2 mi-2
£75003/241.22 miPelham Road, Grimsby2
£62504/241.22 miPelham Road, Grimsby, North East Lincolnshire, DN342
£69503/241.22 miPelham Road, Grimsby, NE Lincolnshire, DN342

Local Area Statistics

Population in DN37

21,700

Population in Grimsby

124,581

Town centre distance

1.36 miles away

Nearest school

0.30 miles away

Nearest train station

0.58 miles away

 

 

Rental growth (12m)

-16%

Sales demand

Buyer's market

Capital growth (5yrs)

+17%

Property History

Price changed to £55,000

April 5, 2025

Listed for £60,000

January 22, 2025

Floor Plans

Description

  • Great Investment Opportunity +
  • Lease Remaining 104 Years +
  • Ground Rent £10 Per Annum +
  • No Chain, Sold As Seen +
  • Prominent Grimsby Location +
  • Gas Central Heating +
  • Two Bedroom Ground Floor Flat +
  • High Rental Yield Potential +
  • Short Walk To Local Amenities +

A great opportunity to purchase this ground floor flat situated within a popular residential position lying just off Cranwell Drive and convenient for local shopping facilities and amenities.
Having been previously rented out to a small family and benefitting from double glazed windows and gas central heating, it offers well planned accommodation which briefly comprises: private spacious entrance hall, good sized lounge / diner, fitted kitchen with range of wall and base units as well as space for appliances, two bedrooms and bathroom (bath, wash hand basin and w.c.).
Externally, there is a small low maintenance front garden mainly laid by grass.
In terms of running costs, the property is quite efficient with an Energy Performance Certificate (EPC) rating of 'C', which should mean reasonable energy bills. Furthermore, it falls under council tax band 'A', which is the lowest band, reducing your annual outgoings.
This property is offered for sale with no forward chain, simplifying the purchasing process and making it an even more attractive proposition.
“All services/appliances have not and will not be tested”

Entrance Hallway -

Kitchen - 3.51m x 2.95m (11'6 x 9'8) -

Lounge / Diner - 4.17m x 3.51m (13'8 x 11'6) -

Bedroom 1 - 3.30m x 3.15m (10'10 x 10'4) -

Bedroom 2 - 3.15m x 1.80m (10'4 x 5'11) -

Bathroom - 1.80m x 1.73m (5'11 x 5'8) -

Storage Cupboard -

Front Garden -

Agent Details

Farrow Estate Agent Ltd, Grimsby

01472 907517

Next Steps?

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