3 Bed Terraced House, Cash/Bridging Only, Louth, LN11 8YJ, £199,950

1 Graye Drive, Louth, LN11 8YJ - 2 months ago

Sold STC
Cash
ROI: 1%
~62 m²
+17 photos

ValuationOvervalued

Sold Prices£120K - £335K
Sold Prices/m²£1.5K/m² - £3.4K/m²

 

 

Square Metres

~62.40 m²
Price/m²£3.2K/m²

Value Estimate

£138,667

 

 

End Value (After Refurb)

£180,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£49,988

Stamp Duty & Legal Fees

£12,697

Refurb Costs

£25,297

Bridging Loan Interest

£5,249

Total Cash In

£94,979

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£180,000

Mortgage (After Refinance)

£135,000

Mortgage LTV

75%

Cash Left In

£94,979

Equity

£45,000

Rent Range

£750 - £1,100

Rent Estimate

£859

Running Costs/mo

£754

Cashflow/mo

£105

Cashflow/yr

£1,256

ROI

1%

Gross Yield

5%

Local Sold Prices

50 sold prices from £120K to £335K, average is £189.2K. £1.5K/m² to £3.4K/m², average is £2.2K/m².

PriceDateDistanceAddressBeds 
£255K12/200.08 mi3, Beck Way, Louth, Lincolnshire LN11 8XH3
£250K10/220.09 mi20, Eresbie Road, Louth, Lincolnshire LN11 8YG3
£270K03/230.09 mi12, Stutte Close, Louth, Lincolnshire LN11 8YN3
£180K04/230.12 mi1, Alder Close, Louth, Lincolnshire LN11 8XB3
£160K06/210.15 mi43, Legbourne Road, Louth, Lincolnshire LN11 8ES3
£232K08/210.15 mi39, Legbourne Road, Louth, Lincolnshire LN11 8ES3
£187K05/230.15 mi5, Florence Wright Avenue, Louth, Lincolnshire LN11 8EJ3
£265K11/230.16 mi8, Legbourne Road, Louth, Lincolnshire LN11 8ER3
£187K03/230.17 mi17, Kenwick Road, Louth, Lincolnshire LN11 8EH3
£210K10/230.19 mi6, Oak Close, Louth, Lincolnshire LN11 8SQ3
£244K06/230.21 mi3a, Stewton Lane, Louth, Lincolnshire LN11 8RZ3
£165K10/200.21 mi19, Southlands Avenue, Louth, Lincolnshire LN11 8EW3
£219.9K11/220.21 mi24, Southlands Avenue, Louth, Lincolnshire LN11 8EW3
£255K04/210.22 mi32, Wood Lane, Louth, Lincolnshire LN11 8SA3
£188.5K06/210.24 mi15, Hazel Grove, Louth, Lincolnshire LN11 8RU3
£185K06/230.25 mi8, Queens Court, Louth, Lincolnshire LN11 8RR3
£230K12/220.25 mi77, Kenwick Road, Louth, Lincolnshire LN11 8EL3
£239K10/210.26 mi1, Laburnum Crescent, Louth, Lincolnshire LN11 8SG3
£168K05/210.26 mi7, Sycamore Drive, Louth, Lincolnshire LN11 8RT3
£148.5K02/210.26 mi8, Sycamore Drive, Louth, Lincolnshire LN11 8RT3
£225K05/230.27 mi73, Kenwick Road, Louth, Lincolnshire LN11 8EL3
£190K02/240.27 mi63, Kenwick Road, Louth, Lincolnshire LN11 8EL3
£228.5K01/210.27 mi89, Kenwick Road, Louth, Lincolnshire LN11 8EL3
£260K01/210.31 mi1, Burton Court, Louth, Lincolnshire LN11 8RJ3
£155K11/200.33 mi40, Alexander Drive, Louth, Lincolnshire LN11 8QG3
£145K06/210.33 mi32, Alexander Drive, Louth, Lincolnshire LN11 8QG3
£153K04/210.33 mi42, Alexander Drive, Louth, Lincolnshire LN11 8QG3
£165K07/230.33 mi28, Alexander Drive, Louth, Lincolnshire LN11 8QG3
£150K06/230.33 mi32, Alexander Drive, Louth, Lincolnshire LN11 8QG3
£160K04/230.33 mi38, Alexander Drive, Louth, Lincolnshire LN11 8QG3
£216K02/240.36 mi5, Spire View Road, Louth, Lincolnshire LN11 8SL3
£150K05/210.36 mi52, Spire View Road, Louth, Lincolnshire LN11 8SL3
£160K12/200.36 mi61, Spire View Road, Louth, Lincolnshire LN11 8SL3
£150K03/230.39 mi72, Mount Pleasant Avenue, Louth, Lincolnshire LN11 9DJ3
£160K05/230.39 mi49, Watts Lane, Louth, Lincolnshire LN11 9DG3
£219.9K03/210.41 mi33, Seymour Avenue, Louth, Lincolnshire LN11 9EW3
£189.9K10/220.43 mi13, Southfield Drive, Louth, Lincolnshire LN11 9ED3
£180K02/230.43 mi55, Mount Pleasant Avenue, Louth, Lincolnshire LN11 9DH3
£169.5K02/210.43 mi13, Southfield Drive, Louth, Lincolnshire LN11 9ED3
£230K12/200.43 mi12, Southfield Drive, Louth, Lincolnshire LN11 9ED3
£225K04/210.44 mi11, Pippin Close, Louth, Lincolnshire LN11 9FF3
£335K12/220.45 mi4, Pippin Close, Louth, Lincolnshire LN11 9FF3
£120K12/200.45 mi9, The Link, Louth, Lincolnshire LN11 8BA3
£155K04/230.45 mi18, Virginia Drive, Louth, Lincolnshire LN11 8BD3
£133K12/200.45 mi18, Virginia Drive, Louth, Lincolnshire LN11 8BD3
£150K11/210.46 mi15, Adrian Close, Louth, Lincolnshire LN11 9EP3
£227K03/210.52 mi35, Mount Pleasant, Louth, Lincolnshire LN11 9DW3
£195K12/220.52 mi100, St Bernards Avenue, Louth, Lincolnshire LN11 8AT3
£190K11/230.56 mi153, Monks Dyke Road, Louth, Lincolnshire LN11 8DN3
£240K11/200.56 mi103, Monks Dyke Road, Louth, Lincolnshire LN11 8DN3

Local Rents

19 rents from £750/mo to £1.1K/mo, average is £850/mo.

RentDateDistanceAddressBeds 
£92512/240.14 miPasture Drive, Louth3
£85005/240.19 miBuddlela Drive, Alexander Park, Louth3
£92505/240.19 miLavender Way, Louth3
£90012/240.21 mi-3
£85005/240.45 miSeymour Avenue, Louth3
£85005/240.68 mi-3
£85006/240.68 miBroadley Crescent, Louth, LN113
£75005/240.7 miPriory Road, Louth3
£75005/240.79 miSt. Bernards Avenue, Louth3
£75006/240.79 miSt. Bernards Avenue, Louth3
£75005/240.82 miRamsgate, Louth3
£87505/240.83 miOld Chapel Mews, Louth, LN113
£75005/240.96 miNichol Hill, Louth, LN113
£1,10005/240.96 miHorncastle Road, Louth3
£85005/240.97 miGospelgate, Louth3
£79505/240.97 miGospelgate, Louth3
£1,10005/241.1 miHigh Holme Road, Louth3
£85005/241.14 miLouth Park Farms, Keddington, Louth. LN11 7HL3
£85005/241.21 mi-3

Local Area Statistics

Population in LN11

28,179

Population in Louth

28,197

Town centre distance

1.04 miles away

Nearest school

0.40 miles away

Nearest train station

14.16 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+12%

Sales demand

Buyer's market

Capital growth (5yrs)

+9%

Property History

Listed for £199,950

February 1, 2025

Floor Plans

Description

  • Mid terrace house +
  • Three bedrooms +
  • Reception room +
  • Modern Kitchen +
  • Stylish Shower room +
  • Driveway for two vehicles +
  • Privately enclosed rear garden +
  • Beautifully presented throughout +
  • Sought after residential location +
  • Viewing highly advised +

It is a pleasure for Choice Properties to bring to the market this superb and stylish three bedroom terrace house situated in the most popular and sought after location. The property further benefits from modern kitchen and shower room, privately enclosed garden to the rear and driveway providing off road parking for two vehicles. Viewing is highly advised!

Porch - 1.57m x 0.89m (5'2 x 2'11) - With UVPC entrance door. UVPC window to side aspect. Door to storage cupboard housing the electric and gas meters. Power points. Internal door to:-

Hallway - 1.91m x 2.84m (6'3 x 9'4) - Staircase to first floor landing with stairlift and recess under. Consumer unit. Radiator. Power points. Telephone point. Door to Kitchen. Door to:-

Living Room - 4.67m x 3.91m (15'4 x 12'10) - With a large under stair storage cupboard. Gas fireplace. French doors leading to garden. Radiator. Power points. Tv aerial point. UVPC window to rear aspect.

Kitchen - 2.59m x 2.79m (8'6 x 9'2) - Modern kitchen fitted with wall, base, and drawer units with complimentary worksurfaces over. One bowl sink with stainless steel mixer tap and drainer. Four ring electric hob with extractor hood over. Plumbing for washing machine. Space for dishwasher. Two integral ovens. Integral fridge/freezer. Spot lighting. Power points. Radiator. UVPC window to front aspect.

Landing - 0.89m x 2.59m (2'11 x 8'6) - Access to boarded loft via loft hatch with pull down loft ladder which houses the new gas combi boiler. Storage cupboard with fitted shelving. Power points. Doors to all first floor rooms.

Bedroom 1 - 2.57m x 3.33m (8'5 x 10'11) - Double bedroom with large storage cupboard used as a fitted wardrobe. Radiator. Power points. UVPC window to front aspect.

Bedroom 2 - 2.57m x 2.74m (8'5 x 9'0) - Double bedroom with large storage cupboard used as a fitted wardrobe. Radiator. Tv aerial. Power points. UVPC window to rear aspect.

Bedroom 3 - 1.96m x 2.41m (6'5 x 7'11) - Radiator. Power points. UVPC window to rear aspect.

Shower Room - 1.98m x 1.68m (6'6 x 5'6) - Recently renovated shower room fitted with a three piece suite comprising of walk in shower with rainfall and traditional shower attachments, wash hand basin set over vanity unit with mixer tap, and a push flush w.c. Part tiled walls. Chrome heated towel rail. Electric shaver point. UVPC window to front aspect.

Garden - To the rear of the property you will find a privately enclosed garden with timber fencing to the boundaries. The garden is neatly laid to lawn and also features a paved patio section.

Driveway - Paved driveway providing off the road parking space for up to 2 vehicles.

Tenure - Freehold.

Council Tax Band - Local Authority - East Lindsey District Council,
The Hub,
Mareham Road,
Horncastle,
Lincolnshire,
LN9 6PH
Tel. No.
Website:

Council Tax Band - According to the Valuation Office Agency Website the property is currently in Council Tax Band A.

Making An Offer - If you are interested in making an offer on this property please have a chat with us and we will be happy to start the negotiations for you. Under money laundering regulation we will ask you to provide us with formal photographic ID by way of either a passport or driving licence. If you are travelling from afar we would advise bringing this documentation with you just in case this home is perfect for you.
We would also like to make you aware that we will require details of your estate agents, proof of funds should you be a cash buyer and solicitors details, as this helps us to start the transaction quickly for you.

Viewing Arrangements - By appointment through Choice Properties on .

Opening Hours - Monday to Friday 9.00 a.m to 5.00 p.m.
Saturday 9.00 a.m. to 3.00 p.m.

Agent Details

Choice Properties, Louth

01507 308529

Next Steps?

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