4 Bed Detached House, Refurb/BRRR, Louth, LN11 7BG, £180,000

Biergate, Grainthorpe, LN11 7BG - 1 views - 2 months ago

Refurb/BRRR

~129 m²

+8 photos

ValuationFair Value

Sold Prices	£230K - £490K
Sold Prices/m²	£1.5K/m² - £2.8K/m²

Square Metres	~129.26 m²
Price/m²	£1.4K/m²
Value Estimate	£180,000£180,000

End Value (After Refurb)	£271,431£271,431
Uplift in Value	+51%+51%

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£45,000£45,000
Stamp Duty & Legal Fees	£6,600£6,600
Refurb Costs	£52,400£52,400
Bridging Loan Interest	£4,725£4,725
Total Cash In	£110,475£110,475

Cash Out
Monetisation	FlipRefinance & RentFlip
Estimated Sale Price	£271,431£271,431
Agent Fees (1%)	£2,714£2,714
Bridging Loan	£135,000£135,000
Bridging Loan Interest	£4,725£4,725
Flip Profit	£23,242£23,242

Local Sold Prices

14 sold prices from £230K to £490K, average is £305K. £1.5K/m² to £2.8K/m², average is £1.9K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£285K	12/20	0.18 mi	Fairfields, Poors End, Grainthorpe, Louth, Lincolnshire LN11 7JB	£2,478	115	4	Detached House
£230K	05/21	1.86 mi	12, Swaby Close, Marshchapel, Grimsby, Lincolnshire DN36 5SA	£1,855	124	4	Detached House
£358K	02/21	1.94 mi	Cherry Grove, Sea Dyke Way, Marshchapel, Grimsby, Lincolnshire DN36 5SX	£1,956	183	4	Detached House
£490K	12/20	1.94 mi	The Elms, Sea Dyke Way, Marshchapel, Grimsby, Lincolnshire DN36 5SX	£2,248	218	4	Detached House
£310K	12/20	1.95 mi	Smilin, Bank End, North Somercotes, Louth, Lincolnshire LN11 7LN	£1,640	189	4	Detached House
£305K	03/21	2.02 mi	Tudor House, Littlefield Lane, Marshchapel, Grimsby, Lincolnshire DN36 5TJ	£1,548	197	4	Detached House
£300K	09/21	2.09 mi	Bakehouse Cottage, Hallgarth, Marshchapel, Grimsby, Lincolnshire DN36 5TQ	£1,887	159	4	Terraced House
£250K	05/23	2.2 mi	High View, Jubilee Road, North Somercotes, Louth, Lincolnshire LN11 7LH	£2,778	90	4	Semi-Detached House
£305K	08/21	2.32 mi	Frogs Frolic, South Road, North Somercotes, Louth, Lincolnshire LN11 7PT	£1,753	174	4	Detached House
£290K	08/23	2.51 mi	Whimbrel Cottage, Marsh Lane, North Somercotes, Louth, Lincolnshire LN11 7PD	-	-	4	Semi-Detached House
£340K	10/23	2.52 mi	Sycamore House, Churchill Road, North Somercotes, Louth, Lincolnshire LN11 7QS	£1,838	185	4	Detached House
£269K	01/21	2.61 mi	Cara-mia, Willerton Road, North Somercotes, Louth, Lincolnshire LN11 7NH	£1,868	144	4	Semi-Detached House
£370K	02/21	2.8 mi	14, Fleetway, North Cotes, Grimsby, Lincolnshire DN36 5UT	£2,423	153	4	Detached House
£376K	01/21	2.8 mi	Hillcrest, Fleetway, North Cotes, Grimsby, Lincolnshire DN36 5UT	-	-	4	Detached House

Local Rents

4 rents from £525/mo to £1.5K/mo, average is £813/mo.

Rent	Date	Distance	Address	Beds	Type
£1,500	05/24	0.18 mi	Elland Way, Poors End, Grainthorpe	3	Bungalow
£725	12/24	0.2 mi	-	2	Bungalow
£900	01/25	0.46 mi	-	3	Terraced House
£525	03/24	2.34 mi	Sea Dyke Way, Marshchapel, DN36 5TF	2	Semi-Detached House

Local Area Statistics

Population in LN11	28,17928,179
Population in Louth	28,19728,197
Town centre distance	6.77 miles away6.77 miles away
Nearest school	0.60 miles away0.60 miles away
Nearest train station	8.72 miles away8.72 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 £180,000

January 27, 2025

Floor Plans

Description

Detached Farmhouse +
Approx 1/3 Acre Mature Plot +
Complete Renovation Needed +
Open Views to the Rear +
Lounge & Dining Kitchen +
G/F Bedroom 4 & Bathroom +
Three Bedrooms Upstairs +
Bathroom & Utility Room +
No Forward Chain Involved +
Detached Garage & Parking +

We are pleased to offer for this this interesting property which sits on approx. 1/3 acre of mature grounds. Open countryside views to the rear and within a quiet village location. The property is in need of full renovation throughout and is being sold with no forward chain involved. The well planned and sizable accommodation briefly comprises entrance hall, lounge, dining kitchen, utility room, ground floor bedroom 4 with bathroom, landing, three further bedrooms to the first floor and bathroom. Mature uncultivated plot with detached garage at the bottom of the plot and block paved hardstanding for off road parking. Tenure: Freehold,

Agent Details

Lovelle, Grimsby

01472 404571

Next Steps?

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