3 Bed Semi-Detached House, Refurb/BRRR, Scunthorpe, DN16 2EL, £145,000

5 Broom Grove, Scunthorpe, DN16 2EL - 2 months ago

Sold STC
Refurb/BRRR
ROI: 2%
~93 m²
+10 photos

ValuationOvervalued

Sold Prices£80K - £185K
Sold Prices/m²£920/m² - £2K/m²

 

 

Square Metres

~93 m²
Price/m²£1.6K/m²

Value Estimate

£133,618

 

 

End Value (After Refurb)

£144,224

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£36,250

Stamp Duty & Legal Fees

£5,550

Refurb Costs

£37,600

Bridging Loan Interest

£3,806

Total Cash In

£84,956

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£144,224

Mortgage (After Refinance)

£108,168

Mortgage LTV

75%

Cash Left In

£84,956

Equity

£36,056

Rent Range

£495 - £975

Rent Estimate

£722

Running Costs/mo

£615

Cashflow/mo

£107

Cashflow/yr

£1,283

ROI

2%

Gross Yield

6%

Local Sold Prices

50 sold prices from £80K to £185K, average is £132.5K. £920/m² to £2K/m², average is £1.5K/m².

PriceDateDistanceAddressBeds 
£132.5K11/210.08 mi7, Chestnut Way, Scunthorpe, North Lincolnshire DN16 2EN3
£84K01/210.1 mi1, Elm Grove, Scunthorpe, North Lincolnshire DN16 2EP3
£84K01/210.1 mi1, Elm Grove, Scunthorpe, North Lincolnshire DN16 2EP3
£165K01/230.11 mi23, Old Brumby Street, Scunthorpe, North Lincolnshire DN16 2DA3
£167.5K01/210.11 mi17, Old Brumby Street, Scunthorpe, North Lincolnshire DN16 2DA3
£180K08/230.13 mi11, Rugby Road, Scunthorpe, North Lincolnshire DN16 2DD3
£120K09/230.14 mi12, Shirley Crescent, Scunthorpe, North Lincolnshire DN16 1NX3
£122K04/210.15 mi6, Gloucester Avenue, Scunthorpe, North Lincolnshire DN16 2DN3
£128K11/200.15 mi3, Gloucester Avenue, Scunthorpe, North Lincolnshire DN16 2DN3
£129K05/210.15 mi10, Gloucester Avenue, Scunthorpe, North Lincolnshire DN16 2DN3
£137.5K07/210.19 mi1, Collum Avenue, Scunthorpe, North Lincolnshire DN16 2EU3
£140K12/220.19 mi8, Collum Avenue, Scunthorpe, North Lincolnshire DN16 2EU3
£175K04/230.19 mi16, Rivelin Crescent, Scunthorpe, North Lincolnshire DN16 2AL3
£167K05/230.21 mi186, Cemetery Road, Scunthorpe, North Lincolnshire DN16 1NU3
£128.8K11/210.23 mi29, Revesby Avenue, Scunthorpe, North Lincolnshire DN16 2DG3
£171K07/230.23 mi33, Revesby Avenue, Scunthorpe, North Lincolnshire DN16 2DG3
£147K02/230.23 mi73, Old Brumby Street, Scunthorpe, North Lincolnshire DN16 2AJ3
£100K07/210.24 mi31, Chestnut Way, Scunthorpe, North Lincolnshire DN16 2EX3
£110K12/200.25 mi29, Hampton Road, Scunthorpe, North Lincolnshire DN16 1QJ3
£125K08/230.31 mi15, Lime Grove, Scunthorpe, North Lincolnshire DN16 2HL3
£170K01/230.31 mi16, Kingston Road, Scunthorpe, North Lincolnshire DN16 2BE3
£107.5K06/210.31 mi34, Collum Avenue, Scunthorpe, North Lincolnshire DN16 2HQ3
£153.5K05/230.32 mi4, St Michaels Crescent, Scunthorpe, North Lincolnshire DN16 1QA3
£94K03/210.33 mi78, Chestnut Way, Scunthorpe, North Lincolnshire DN16 2HA3
£110K11/210.33 mi80, Chestnut Way, Scunthorpe, North Lincolnshire DN16 2HA3
£141K11/200.33 mi73, Chestnut Way, Scunthorpe, North Lincolnshire DN16 2HA3
£122K01/210.33 mi43, Chestnut Way, Scunthorpe, North Lincolnshire DN16 2HA3
£185K01/230.34 mi18, Kingston Road, Scunthorpe, North Lincolnshire DN16 2BE3
£152K07/230.34 mi16, Stow Road, Scunthorpe, North Lincolnshire DN16 2DX3
£147K03/230.34 mi69, Maple Tree Way, Scunthorpe, North Lincolnshire DN16 1LR3
£166K12/220.35 mi55, Maple Tree Way, Scunthorpe, North Lincolnshire DN16 1LR3
£105K01/230.36 mi44, Kingston Road, Scunthorpe, North Lincolnshire DN16 2BE3
£136K06/210.36 mi1, Kingston Road, Scunthorpe, North Lincolnshire DN16 2BG3
£150K04/230.36 mi65, Kingston Road, Scunthorpe, North Lincolnshire DN16 2BG3
£162.5K07/230.36 mi3, Kingston Road, Scunthorpe, North Lincolnshire DN16 2BG3
£93K01/210.36 mi46, Warley Road, Scunthorpe, North Lincolnshire DN16 1PZ3
£120K11/200.36 mi7, Laburnum Grove, Scunthorpe, North Lincolnshire DN16 2HJ3
£130K03/210.36 mi19, Laburnum Grove, Scunthorpe, North Lincolnshire DN16 2HJ3
£135K02/210.36 mi13, Laburnum Grove, Scunthorpe, North Lincolnshire DN16 2HJ3
£154.9K01/210.38 mi7, Bardney Avenue, Scunthorpe, North Lincolnshire DN16 2AX3
£131K11/210.38 mi47, Barlings Avenue, Scunthorpe, North Lincolnshire DN16 2AY3
£126K11/200.38 mi13, Barlings Avenue, Scunthorpe, North Lincolnshire DN16 2AY3
£125K12/220.38 mi6, Bennett Road, Scunthorpe, North Lincolnshire DN16 1PJ3
£160K06/230.38 mi124, East Common Lane, Scunthorpe, North Lincolnshire DN16 1QG3
£132.5K05/210.39 mi89, Cemetery Road, Scunthorpe, North Lincolnshire DN16 1EB3
£100K04/230.39 mi16, Rowmills Road, Scunthorpe, North Lincolnshire DN16 1HP3
£155K11/200.39 mi58, Kenilworth Road, Scunthorpe, North Lincolnshire DN16 1EY3
£114K03/210.39 mi35, Warley Road, Scunthorpe, North Lincolnshire DN16 1PX3
£80K10/200.4 mi6, Cuxwold Road, Scunthorpe, North Lincolnshire DN16 1HR3
£150K03/210.4 mi16, Atlas Road, Scunthorpe, North Lincolnshire DN17 1BZ3

Local Rents

16 rents from £495/mo to £975/mo, average is £795/mo.

RentDateDistanceAddressBeds 
£90002/250.47 mi-3
£67503/240.48 miHaig Avenue, Scunthorpe3
£63503/240.48 miCherry Grove, Scunthorpe3
£90012/240.49 miWest Common Gardens, Scunthorpe3
£97503/250.51 mi-3
£80003/250.52 mi-3
£72512/230.52 mi-3
£80004/240.52 mi-3
£79501/250.52 mi-3
£81502/250.52 mi-3
£79503/250.52 mi-3
£85001/250.53 mi-3
£62503/240.56 miAbercorn Street, SCUNTHORPE3
£57503/240.58 miLindley Street, Scunthorpe3
£49511/230.58 mi-3
£69512/230.61 mi-3

Local Area Statistics

Population in DN16

31,697

Population in Scunthorpe

105,498

Town centre distance

0.51 miles away

Nearest school

0.10 miles away

Nearest train station

0.72 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+24%

Sales demand

Seller's market

Capital growth (5yrs)

+27%

Property History

Listed for £145,000

January 29, 2025

Floor Plans

Description

  • Traditional three bed semi detached house +
  • Scope for modernisation +
  • Great first time buy, investment or young family home +
  • Two reception rooms +
  • Three bedrooms +
  • Rear lawned garden with patio area +
  • Garage and off road parking +
  • Council tax band A +
  • EPC rating C +

Fantastic opportunity for someone looking to put their own stamp on a property! This traditional three bed semi detached house requires scope for modernisation but offers really good room sizes and is offered with no chain attached. The property comprises of an entrance hall, two reception rooms, kitchen, three bedrooms and a family bathroom. Outside there is off road parking and a garage at the front of the property and to the rear a lawned garden with patio area. At a great value for first time buyers, investors or a young family, we'd recommend booking in for a viewing!

Entrance Hall -

Lounge - 4.55 x 3.62 (14'11" x 11'10") -

Kitchen - 3.32 x 2.83 (10'10" x 9'3") -

Dining Room - 3.06 x 2.83 (10'0" x 9'3") -

Bedroom One - 4.24 x 3.65 (13'10" x 11'11") -

Bedroom Two - 4.24 x 2.80 (13'10" x 9'2") -

Bedroom Three - 2.76 x 2.74 (9'0" x 8'11") -

Family Bathroom -

Outside -

Garage - 6.69 x 2.60 (21'11" x 8'6") -

Agent Details

EA Ben Cade, Scunthorpe

01724 706881

Next Steps?

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