2 Bed Flat, Cash/Bridging Only, Hull, HU3 2SB, £43,000

Flat 3, Hull, HU3 2SB - 1 views - 2 months ago

Leasehold

Cash

ROI: 7%

~68 m²

+5 photos

ValuationFair Value

Sold Prices	£34K - £140K
Sold Prices/m²	£435/m² - £2.5K/m²

Square Metres	~68.11 m²
Price/m²	£631/m²
Value Estimate	£43,000£43,000

End Value (After Refurb)	£71,102£71,102
Uplift in Value	+65%+65%

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£10,750£10,750
Stamp Duty & Legal Fees	£2,490£2,490
Refurb Costs	£27,370£27,370
Bridging Loan Interest	£1,129£1,129
Total Cash In	£43,489£43,489

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£71,102£71,102
Mortgage (After Refinance)	£53,326£53,326
Mortgage LTV	75%75%
Cash Released	£21,076£21,076
Cash Left In	£22,413£22,413
Equity	£17,775£17,775
Rent Range	£375 - £725£375 - £725
Rent Estimate	£600
Running Costs/mo	£362£362
Cashflow/mo	£238£238
Cashflow/yr	£2,854£2,854
ROI	7%7%
Gross Yield	17%17%

Local Sold Prices

50 sold prices from £34K to £140K, average is £83K. £435/m² to £2.5K/m², average is £1.6K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£64K	09/21	0.27 mi	70, Cholmley Street, Hull, City Of Kingston Upon Hull HU3 3DP	-	-	2	Flat
£50K	11/22	0.33 mi	111, Linnaeus Street, Hull, City Of Kingston Upon Hull HU3 2QT	£710	70	2	Flat
£34K	04/22	0.42 mi	654, Great Thornton Street, Hull, City Of Kingston Upon Hull HU3 2LX	-	-	2	Flat
£73K	01/22	0.43 mi	54, Glasgow Street, Hull, City Of Kingston Upon Hull HU3 3PR	£986	74	2	Flat
£100K	08/22	0.46 mi	43, Hymers Avenue, Hull, City Of Kingston Upon Hull HU3 1LL	-	-	2	Flat
£80K	04/22	0.47 mi	362, Great Thornton Street, Hull, City Of Kingston Upon Hull HU3 2LT	£1,194	67	2	Flat
£72.5K	01/23	0.54 mi	137, Clarendon Street, Hull, City Of Kingston Upon Hull HU3 1AN	£1,422	51	2	Flat
£70K	06/22	0.54 mi	147, Clarendon Street, Hull, City Of Kingston Upon Hull HU3 1AN	£1,399	50	2	Flat
£70K	10/20	0.59 mi	345, Spring Bank West, Hull, City Of Kingston Upon Hull HU3 1LD	-	-	2	Flat
£50K	06/22	0.6 mi	9, Brisbane Street, Hull, City Of Kingston Upon Hull HU3 2HS	£758	66	2	Flat
£37K	07/22	0.62 mi	172, Cambridge Street, Hull, City Of Kingston Upon Hull HU3 2EF	£435	85	2	Flat
£45K	01/22	0.62 mi	14, Hobart Street, Hull, City Of Kingston Upon Hull HU3 2EX	-	-	2	Flat
£61K	12/22	0.63 mi	41, St Lukes Street, Hull, City Of Kingston Upon Hull HU3 2EL	£836	73	2	Flat
£45K	07/21	0.65 mi	196, Porter Street, Hull, City Of Kingston Upon Hull HU1 2RF	£625	72	2	Flat
£140K	06/22	0.98 mi	26, Kingston Wharf, Hull, City Of Kingston Upon Hull HU1 2ES	£2,545	55	2	Flat
£98.5K	08/21	1.03 mi	55, Wellington Street West, Hull, City Of Kingston Upon Hull HU1 2DG	£1,894	52	2	Flat
£120K	09/22	1.03 mi	31, Wellington Street West, Hull, City Of Kingston Upon Hull HU1 2DG	£2,308	52	2	Flat
£98K	03/23	1.03 mi	Flat 14, Warehouse 13, Kingston Street, Hull, City Of Kingston Upon Hull HU1 2DZ	-	-	2	Flat
£115K	10/21	1.04 mi	4, Boatswain Croft, Hull, City Of Kingston Upon Hull HU1 2EJ	£2,255	51	2	Flat
£112.5K	03/23	1.08 mi	4, Black & Amber Way, Hull, City Of Kingston Upon Hull HU4 6BQ	£1,705	66	2	Flat
£106K	09/21	1.09 mi	3, Jensen Mews, Hull, City Of Kingston Upon Hull HU4 6AX	£1,559	68	2	Flat
£106K	09/21	1.1 mi	3, Jensen Mews, Hull, City Of Kingston Upon Hull HU4 6AX	£1,559	68	2	Flat
£115K	11/22	1.11 mi	12, Madeira Court, Hull, City Of Kingston Upon Hull HU5 4BS	£2,018	57	2	Flat
£107.5K	03/21	1.11 mi	10, Madeira Court, Hull, City Of Kingston Upon Hull HU5 4BS	£1,886	57	2	Flat
£41K	03/22	1.13 mi	27, Cave Street, Hull, City Of Kingston Upon Hull HU5 2TZ	-	-	2	Flat
£50K	07/21	1.23 mi	108, St Pauls Street, Hull, City Of Kingston Upon Hull HU2 0DG	£667	75	2	Flat
£50K	07/21	1.23 mi	108, St Pauls Street, Hull, City Of Kingston Upon Hull HU2 0DG	£667	75	2	Flat
£77K	08/22	1.24 mi	7, Northella Drive, Hull, City Of Kingston Upon Hull HU4 6DE	-	-	2	Flat
£82.5K	04/22	1.24 mi	11, Northella Drive, Hull, City Of Kingston Upon Hull HU4 6DE	£1,618	51	2	Flat
£48.5K	05/22	1.25 mi	59, Sykes Street, Hull, City Of Kingston Upon Hull HU2 8AZ	£933	52	2	Flat
£75K	10/22	1.29 mi	17, Bermondsey Drive, Hull, City Of Kingston Upon Hull HU5 5EH	-	-	2	Flat
£62K	07/21	1.29 mi	11, Bermondsey Drive, Hull, City Of Kingston Upon Hull HU5 5EH	£1,240	50	2	Flat
£38K	11/22	1.31 mi	106, Lindsey Place, Hull, City Of Kingston Upon Hull HU4 6AF	£585	65	2	Flat
£50.5K	03/21	1.31 mi	57, Lindsey Place, Hull, City Of Kingston Upon Hull HU4 6AF	£1,031	49	2	Flat
£71.3K	04/22	1.48 mi	32, Lowdale Close, Hull, City Of Kingston Upon Hull HU5 5DS	£1,414	50	2	Flat
£127K	06/23	1.64 mi	88, South Bridge Road, Hull, City Of Kingston Upon Hull HU9 1TL	£1,814	70	2	Flat
£127.5K	03/22	1.74 mi	37, Ha'penny Bridge Way, Hull, City Of Kingston Upon Hull HU9 1HD	£1,848	69	2	Flat
£73.5K	10/22	1.76 mi	50, Dayton Road, Hull, City Of Kingston Upon Hull HU5 5TF	-	-	2	Flat
£108K	02/21	1.77 mi	29, Plimsoll Way, Hull, Humberside HU9 1PW	£2,000	54	2	Flat
£100K	08/22	1.77 mi	35, Plimsoll Way, Hull, City Of Kingston Upon Hull HU9 1PW	£1,852	54	2	Flat
£110K	04/23	1.77 mi	139, Plimsoll Way, Hull, City Of Kingston Upon Hull HU9 1PX	£1,864	59	2	Flat
£108K	02/21	1.77 mi	89, Plimsoll Way, Hull, City Of Kingston Upon Hull HU9 1PX	£1,862	58	2	Flat
£125K	03/23	1.8 mi	14, Sequana Court, Hull, City Of Kingston Upon Hull HU9 1PQ	£2,315	54	2	Flat
£106.5K	06/22	1.8 mi	16, Sequana Court, Hull, City Of Kingston Upon Hull HU9 1PQ	£2,005	53	2	Flat
£107K	12/21	1.81 mi	61, Impala Way, Hull, City Of Kingston Upon Hull HU4 6UH	£2,098	51	2	Flat
£100K	03/23	1.85 mi	7, Hartley Bridge, Hull, City Of Kingston Upon Hull HU9 1QG	-	-	2	Flat
£105K	12/20	1.85 mi	3, Hartley Bridge, Hull, City Of Kingston Upon Hull HU9 1QG	£1,750	60	2	Flat
£97.5K	05/22	1.85 mi	5, Hartley Bridge, Hull, City Of Kingston Upon Hull HU9 1QG	-	-	2	Flat
£83.5K	12/22	1.85 mi	4, Hartley Bridge, Hull, City Of Kingston Upon Hull HU9 1QG	£1,365	61	2	Flat
£118K	05/22	1.85 mi	6, Hartley Bridge, Hull, City Of Kingston Upon Hull HU9 1QG	£2,034	58	2	Flat

Local Rents

33 rents from £375/mo to £725/mo, average is £620/mo.

Rent	Date	Distance	Address	Beds	Type
£670	04/25	0.08 mi	-	2	Flat
£600	03/24	0.13 mi	-	2	Terraced House
£600	12/24	0.13 mi	-	2	Terraced House
£550	10/24	0.14 mi	-	2	Flat
£700	05/24	0.14 mi	-	2	Terraced House
£650	12/24	0.14 mi	-	2	Terraced House
£625	05/24	0.17 mi	Renaissance House, 49 Boulevard, Hull, HU3 2TS	2	Terraced House
£495	03/25	0.18 mi	-	2	Flat
£650	04/24	0.2 mi	Royal Mews, Hull, East Riding Of Yorkshire, HU3	2	Flat
£525	05/24	0.26 mi	Aylesford Street, Hull, East Riding of Yorkshire, HU3	2	Terraced House
£650	10/24	0.26 mi	-	2	Terraced House
£675	11/23	0.27 mi	-	2	Terraced House
£625	05/24	0.29 mi	Avenue Crescent, Albemarle Street, Hull, East Riding Of Yorkshire, HU3	2	Terraced House
£650	10/24	0.3 mi	-	2	Terraced House
£625	04/24	0.32 mi	Albert Avenue, Wellsted Street, Hull	2	Terraced House
£600	03/25	0.35 mi	-	2	Flat
£663	05/24	0.35 mi	Coltman Street, Hull, East Riding Of Yorkshire, HU3	2	Flat
£700	03/25	0.36 mi	-	2	Terraced House
£595	04/24	0.37 mi	Boulevard, Hull, East Riding Of Yorkshire, HU3	2	Flat
£595	05/24	0.37 mi	Boulevard, Hull, East Riding Of Yorkshire, HU3	2	Flat
£595	04/24	0.37 mi	Boulevard, Hull, East Riding Of Yorkshire, HU3	2	Flat
£550	05/24	0.39 mi	Barberry Court, Hull, HU3 2QX	2	Terraced House
£375	04/24	0.4 mi	Flat 2 8 Granville Street, Hull, HU3	2	Flat
£559	05/24	0.4 mi	Linnaeus Street, Hull, East Riding Of Yorkshire, HU3	2	Flat
£640	03/25	0.43 mi	-	2	Terraced House
£620	01/25	0.45 mi	-	2	Flat
£725	03/25	0.46 mi	-	2	Terraced House
£725	03/25	0.46 mi	-	2	Terraced House
£485	02/24	0.47 mi	-	2	Flat
£485	02/24	0.47 mi	-	2	Flat
£575	04/24	0.54 mi	Clarendon Street, Hull, HU3	2	Flat
£725	03/25	0.58 mi	-	2	Flat
£495	12/24	0.59 mi	Plane Street, Hull, East Riding Of Yorkshire, HU3	2	Flat

Local Area Statistics

Population in HU3	26,64826,648
Population in Hull	313,622313,622
Town centre distance	1.38 miles away1.38 miles away
Nearest school	0.30 miles away0.30 miles away
Nearest train station	0.73 miles away0.73 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	-3%-3%
Sales demand	Seller's marketSeller's market
Capital growth (5yrs)	+11%+11%

Property History

Listed for £43,000

January 29, 2025

Floor Plans

Description

Close to City Centre +
Rental Yield: 15% +
UPVC Double Glazed Windows +
Long Term Capital Appreciation +
Double Bedrooms +

House Sales Direct presents this well-presented flat, just a short walk from Hull city centre. Offering an impressive 15% rental yield, it?s a prime investment opportunity with strong cash flow and significant growth potential. Perfect for investors seeking high returns in a high-demand area, this property is ideal for expanding your portfolio or starting your investment journey. Don?t miss out on this exceptional opportunity!

Situated just a short distance from Hull city centre, it boasts excellent transport links, local shops, and green spaces. Residents enjoy easy access to nearby amenities, including schools, parks, and the bustling cultural attractions of Hull. With its friendly neighbourhood feel and close proximity to both work and leisure opportunities.

This attractive investment opportunity offers an impressive rental income of £600 PCM (excluding bills), delivering excellent value for money. Perfectly positioned as an affordable alternative to expensive city centre living, this property combines high-quality living accommodation with a price point that is hard to beat. This is an ideal option for investors seeking a secure, high-yield investment within a tight budget. Whether you're a seasoned investor or just starting out, this property provides a fantastic opportunity to secure a steady rental income in a sought-after area, offering both short-term returns and long-term growth potential. Don't miss out on this rare find!

Configured with a hallway to a bright, spacious lounge with a closed fireplace and a nicely fitted kitchen with plenty of charming base units and mounted cupboards. The double bedroom introduces lots of natural light. The windows are fully double-glazed and the central heating is fired by a gas boiler.

Please be aware that any systems, appliances, or services depicted in photographs have not been tested by us and are subject to a fixtures and fittings agreement with the seller.

To secure this property in accordance with our terms, a £4,000 deposit will be required, which will be deducted from the purchase price. Additionally, there is a non-refundable Reservation Fee of £450 inc VAT, which is separate from the purchase price.

All cash buyers are required to indemnify searches and surveys as outlined in our terms and conditions.

Upon acceptance of your offer, our appointed solicitor will be formally instructed to oversee the sale process on your behalf, ensuring a smooth and efficient transaction.

Agent Details

House Sales Direct, Cheadle

0161 524 8266

Next Steps?

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