2 Bed Flat, Single Let, Louth, LN11 9EA, £110,000

Formans Walk, Louth, LN11 9EA - 2 months ago

Leasehold

BTL

~68 m²

+4 photos

ValuationUndervalued

Sold Prices	£60K - £215K
Sold Prices/m²	£1.4K/m² - £2.4K/m²

Square Metres	~68.11 m²
Price/m²	£1.6K/m²
Value Estimate	£115,294£115,294
BMV	5%

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£27,500£27,500
Stamp Duty & Legal Fees	£4,500£4,500
Total Cash In	£32,000£32,000

Cash Out
Rent Range	£425 - £775£425 - £775
Rent Estimate	£425
Running Costs/mo	£449£449
Cashflow/mo	£-24£-24
Cashflow/yr	£-285£-285
Gross Yield	5%5%

Local Sold Prices

20 sold prices from £60K to £215K, average is £110K. £1.4K/m² to £2.4K/m², average is £1.7K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£80K	03/21	0.05 mi	8, Spring Court, Louth, Lincolnshire LN11 9PR	£1,618	49	2	Flat
£129K	11/23	0.05 mi	2, Spring Court, Louth, Lincolnshire LN11 9PR	£2,434	53	2	Flat
£85.5K	06/23	0.13 mi	91, Aswell Street, Louth, Lincolnshire LN11 9HW	£1,693	51	2	Flat
£110K	03/23	0.22 mi	23b, Northgate, Louth, Lincolnshire LN11 0LT	£1,487	74	2	Flat
£120K	01/21	0.23 mi	65, Mount Pleasant, Louth, Lincolnshire LN11 9DW	£1,481	81	2	Flat
£117.5K	03/21	0.24 mi	10, James Court, Louth, Lincolnshire LN11 0JY	£1,655	71	2	Flat
£112K	04/21	0.24 mi	3, James Court, Louth, Lincolnshire LN11 0JY	£1,804	62	2	Flat
£115.5K	01/22	0.24 mi	2, James Court, Louth, Lincolnshire LN11 0JY	£1,885	61	2	Flat
£60K	08/21	0.24 mi	Top Flat, 54, Upgate, Louth, Lincolnshire LN11 9EX	-	-	2	Flat
£105K	02/22	0.27 mi	15, Northgate Court, Louth, Lincolnshire LN11 0LZ	-	-	2	Flat
£120K	08/23	0.35 mi	199, Newmarket, Louth, Lincolnshire LN11 9EJ	£1,872	64	2	Flat
£215K	06/21	0.35 mi	4a, School House Lane, Louth, Lincolnshire LN11 9AQ	-	-	2	Flat
£82K	12/20	0.54 mi	1, Forlander Place, Louth, Lincolnshire LN11 7WA	£1,439	57	2	Flat
£104K	06/23	0.54 mi	4, Forlander Place, Louth, Lincolnshire LN11 7WA	£1,857	56	2	Flat
£144K	10/21	0.63 mi	2a, Brackenborough Road, Louth, Lincolnshire LN11 0AE	-	-	2	Flat
£92K	06/21	0.69 mi	13, Mallard Ings, Louth, Lincolnshire LN11 0FD	-	-	2	Flat
£98K	03/23	0.69 mi	13, Mallard Ings, Louth, Lincolnshire LN11 0FD	-	-	2	Flat
£110K	11/22	0.69 mi	11, Mallard Ings, Louth, Lincolnshire LN11 0FD	-	-	2	Flat
£113.5K	03/22	0.73 mi	8, Canal Close, Louth, Lincolnshire LN11 0FH	-	-	2	Flat
£107K	03/22	0.73 mi	8a, Canal Close, Louth, Lincolnshire LN11 0FH	-	-	2	Flat

Local Rents

41 rents from £425/mo to £775/mo, average is £600/mo.

Rent	Date	Distance	Address	Beds	Type
£575	05/24	0.01 mi	Kidgate, Louth	2	Flat
£650	06/24	0.02 mi	Kidgate, Louth	2	Semi-Detached House
£495	05/24	0.07 mi	Church Street, Louth, LN11 9BZ	2	Flat
£625	05/24	0.08 mi	The Gatherums, Queen Street Place	2	Semi-Detached House
£580	05/24	0.12 mi	St Michaels Road, Louth LN11 9DA	2	Terraced House
£575	05/24	0.14 mi	Eastgate, Louth, LN11	2	Flat
£575	05/24	0.14 mi	Eastgate, Louth, LN11	2	Flat
£650	12/24	0.14 mi	-	2	Flat
£425	05/24	0.16 mi	Eastgate, Louth	2	Flat
£425	06/24	0.16 mi	Eastgate, Louth	2	Flat
£495	06/24	0.18 mi	Church Street, Louth	2	Terraced House
£675	02/24	0.19 mi	-	2	Terraced House
£675	03/25	0.19 mi	-	2	Terraced House
£650	05/24	0.21 mi	Priory Road, Louth	2	Terraced House
£520	10/24	0.21 mi	-	2	Flat
£600	05/24	0.21 mi	Mawers Yard, Kidgate, Louth	2	Terraced House
£575	05/24	0.21 mi	Northgate Court	2	Flat
£575	05/24	0.21 mi	Northgate Court	2	Flat
£625	05/24	0.23 mi	Upgate, Louth	2	Terraced House
£545	03/25	0.24 mi	-	2	Flat
£750	06/24	0.25 mi	Royal Oak Court, Louth	2	Terraced House
£565	12/24	0.25 mi	James Street, Louth	2	Terraced House
£595	06/24	0.26 mi	Bexon Court, Louth	2	Flat
£615	05/24	0.27 mi	Royal Oak Court, Louth LN11 9JA	2	Terraced House
£625	05/24	0.27 mi	Ramsgate Louth LN11 0NE	2	Detached House
£595	05/24	0.27 mi	Bridge View, Ramsgate, Louth. LN11 0NE	2	Flat
£650	05/24	0.27 mi	Northgate Court, Louth. LN11 0LZ	2	Flat
£675	05/24	0.28 mi	Little South Street, Louth, LN11	2	Terraced House
£575	06/24	0.32 mi	George Street, Louth	2	Flat
£625	06/24	0.33 mi	7 Newbridge Court Newbridge Hill Louth LN11 0NQ	2	Flat
£650	06/24	0.34 mi	Parsons Halt, Louth	2	Detached House
£550	04/24	0.35 mi	-	2	Flat
£600	03/25	0.38 mi	-	2	Flat
£775	05/24	0.39 mi	Westgate, Louth	2	Flat
£650	05/24	0.4 mi	-	2	Flat
£645	12/24	0.4 mi	-	2	Flat
£550	12/24	0.41 mi	-	2	Terraced House
£625	05/24	0.46 mi	Commercial Road, Louth	2	House
£550	06/24	0.51 mi	Leakes Row, Louth	2	Terraced House
£550	05/24	0.55 mi	3 Waterside Mews Eastgate Louth LN11 8DD	2	Flat
£600	12/24	0.56 mi	Old School Court, Eastfield Road, Louth	2	Flat

Local Area Statistics

Population in LN11	28,17928,179
Population in Louth	28,19728,197
Town centre distance	0.33 miles away0.33 miles away
Nearest school	0.10 miles away0.10 miles away
Nearest train station	13.64 miles away13.64 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+12%+12%
Sales demand	Buyer's marketBuyer's market
Capital growth (5yrs)	+9%+9%

Property History

Listed for £110,000

January 27, 2025

Floor Plans

Description

Superb Modern Apartment +
Central Town Location +
Allocated Parking Spaces +
Open Plan Lounge Kitchen +
Bathroom +
Two Bedrooms +
No Forward Chain Involved +
Modern Stylish Interior +

Looking for a modern apartment within a short walk to the town centre and boasting allocated parking, this is the property for you. This stylish and spacious apartment would make an ideal first time buy or investment. Benefitting from uPVC double glazing and gas central heating. The well planned accommodation briefly comprises entrance hall, landing, open plan lounge, diner and modern kitchen. Two bedrooms and a bathroom. Their is allocated parking spaces to the rear of the property. This property is being sold with no forward chain. EPC rating: C. Tenure: Leasehold,

Agent Details

Lovelle, Grimsby

01472 404571

Next Steps?

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

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