2 Bed Terraced House, Single Let, Gainsborough, DN21 1LH, £55,000

Lea Road, Gainsborough, DN21 1LH - 1 views - a month ago

Auction
BTL
ROI: 6%
~68 m²
+17 photos

ValuationUndervalued

Sold Prices£30.5K - £195K
Sold Prices/m²£384/m² - £2.6K/m²

 

 

Square Metres

~68.11 m²
Price/m²£808/m²

Value Estimate

£56,266

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£13,750

Stamp Duty & Legal Fees

£3,000

Total Cash In

£16,750

 

 

Cash Out

 

Rent Range

£450 - £725

Rent Estimate

£375

Running Costs/mo

£267

Cashflow/mo

£108

Cashflow/yr

£1,298

ROI

8%

Gross Yield

8%

Local Sold Prices

50 sold prices from £30.5K to £195K, average is £67.1K. £384/m² to £2.6K/m², average is £826/m².

PriceDateDistanceAddressBeds 
£60K02/210.03 mi26, Ashcroft Road, Gainsborough, Lincolnshire DN21 1LD2
£61K12/200.05 mi57, Ashcroft Road, Gainsborough, Lincolnshire DN21 1LB2
£69K10/210.07 mi43, Lea Road, Gainsborough, Lincolnshire DN21 1LL2
£58.4K04/210.07 mi66, Waterworks Street, Gainsborough, Lincolnshire DN21 1LA2
£61K06/210.07 mi1, Waterworks Street, Gainsborough, Lincolnshire DN21 1LA2
£50K05/210.07 mi14, Waterworks Street, Gainsborough, Lincolnshire DN21 1LA2
£32K10/200.07 mi6, Waterworks Street, Gainsborough, Lincolnshire DN21 1LA2
£60K03/230.1 mi1, Trent Street, Gainsborough, Lincolnshire DN21 1JZ2
£72K02/230.11 mi6, Ruskin Street, Gainsborough, Lincolnshire DN21 1DN2
£65K02/230.14 mi25, Gordon Street, Gainsborough, Lincolnshire DN21 1DW2
£59K10/200.14 mi9, Bacon Street, Gainsborough, Lincolnshire DN21 1DQ2
£72.5K08/210.16 mi31, St Johns Terrace, Gainsborough, Lincolnshire DN21 1BY2
£61K05/210.16 mi35, St Johns Terrace, Gainsborough, Lincolnshire DN21 1BY2
£37.5K01/230.16 mi64, Stanley Street, Gainsborough, Lincolnshire DN21 1DS2
£40K03/210.17 mi85, Stanley Street, Gainsborough, Lincolnshire DN21 1DT2
£64K03/210.18 mi53, Drake Street, Gainsborough, Lincolnshire DN21 1DF2
£69K12/220.19 mi34, Burton Street, Gainsborough, Lincolnshire DN21 1DX2
£85K04/230.2 mi174, Sandsfield Lane, Gainsborough, Lincolnshire DN21 1DD2
£63.5K04/210.22 mi1, Shakespeare Street, Gainsborough, Lincolnshire DN21 1DE2
£38K11/200.25 mi7, Wheeldon Street, Gainsborough, Lincolnshire DN21 1BS2
£30.5K03/210.26 mi26, Dickenson Terrace, Gainsborough, Lincolnshire DN21 1BZ2
£48K03/210.26 mi15, Dickenson Terrace, Gainsborough, Lincolnshire DN21 1BZ2
£45K04/210.29 mi34, Linden Terrace, Gainsborough, Lincolnshire DN21 1JQ2
£45K04/230.29 mi9, Linden Terrace, Gainsborough, Lincolnshire DN21 1JQ2
£53K03/230.32 mi61, Sandsfield Lane, Gainsborough, Lincolnshire DN21 1BQ2
£83K03/230.33 mi44, Pillard House Lane, Gainsborough, Lincolnshire DN21 1HX2
£59K08/210.38 mi19, Florence Terrace, Gainsborough, Lincolnshire DN21 1BE2
£53.5K01/210.41 mi6, Lewis Street, Gainsborough, Lincolnshire DN21 2AB2
£112K06/230.52 mi3, Meldrum Drive, Gainsborough, Lincolnshire DN21 1GS2
£195K12/220.6 mi13, Claremont Road, Gainsborough, Lincolnshire DN21 1QW2
£113K10/200.66 mi15, Pingle Close, Gainsborough, Lincolnshire DN21 1XR2
£125K07/230.66 mi12, Pingle Close, Gainsborough, Lincolnshire DN21 1XR2
£100K04/210.66 mi28, Pingle Close, Gainsborough, Lincolnshire DN21 1XR2
£74K02/210.67 mi47, Foxby Lane, Gainsborough, Lincolnshire DN21 1PP2
£78.5K02/230.68 mi19, Spring Gardens, Gainsborough, Lincolnshire DN21 2AY2
£165K12/210.69 miPeartree Paddock, Lea Road, Gainsborough, Lincolnshire DN21 1AW2
£100K06/230.73 mi9a, Morley Street, Gainsborough, Lincolnshire DN21 2NF2
£120K05/230.76 mi19, Hickman Court, Gainsborough, Lincolnshire DN21 1NZ2
£58.5K08/210.77 mi21, Tennyson Street, Gainsborough, Lincolnshire DN21 2JG2
£66.8K02/210.8 mi22, Rectory Avenue, Gainsborough, Lincolnshire DN21 2JE2
£72K12/200.8 mi24, Rectory Avenue, Gainsborough, Lincolnshire DN21 2JE2
£72.5K05/230.8 mi8, Rectory Avenue, Gainsborough, Lincolnshire DN21 2JE2
£111.5K06/230.8 mi88, Brewster Road, Gainsborough, Lincolnshire DN21 1ZA2
£101K04/230.8 mi48, Brewster Road, Gainsborough, Lincolnshire DN21 1ZA2
£68K11/200.8 mi40, Tower Street, Gainsborough, Lincolnshire DN21 2JQ2
£64K05/230.81 mi4, Jubilee Crescent, Gainsborough, Lincolnshire DN21 2HJ2
£76K05/230.82 mi17, Balfour Street, Gainsborough, Lincolnshire DN21 2LF2
£127.5K02/230.9 mi1, Heapham Crescent, Gainsborough, Lincolnshire DN21 1TB2
£118K03/230.97 mi59, Juniper Way, Gainsborough, Lincolnshire DN21 1GW2
£67.5K07/210.99 mi46, Arkwright Street, Gainsborough, Lincolnshire DN21 2QJ2

Local Rents

14 rents from £450/mo to £725/mo, average is £563/mo.

RentDateDistanceAddressBeds 
£49510/240.09 mi-2
£50012/240.17 miLea Place2
£59502/250.19 mi-2
£49512/240.25 mi-2
£59511/240.26 mi-2
£45012/240.29 miLinden Terrace, Gainsborough2
£54012/240.29 mi-2
£57512/240.3 miFurleys Wharf, Gainsborough2
£70011/240.42 mi-2
£54012/240.42 miLewis Street, Gainsborough2
£65012/240.48 miFoxby Mews, Gainsborough, Lincolnshire, DN212
£55012/240.48 miBridge Street, Gainsborough, DN212
£60012/240.49 miGranary Wharf, Gainsborough2
£72511/230.52 mi-2

Local Area Statistics

Population in DN21

36,969

Population in Gainsborough

37,066

Town centre distance

0.82 miles away

Nearest school

0.20 miles away

Nearest train station

0.43 miles away

 

 

Rental demand

Landlord's market

Sales demand

Balanced market

Capital growth (5yrs)

+20%

Property History

Price changed to £55,000

March 12, 2025

Listed for £60,000

February 11, 2025

Floor Plans

Description

  • Two Bedrooms +
  • End Terrace +
  • Private garden and parking for one car +
  • Chain Free +
  • Utility Room +
  • UPVC Double Glazing +
  • Ideal investment, tenant in situ +
  • Viewings Recommended +
  • Sold via Secure Sale` +
  • Immediate exchange of contracts` available +

For sale is this 2-bedroom, end-terrace property.
The property comprises a spacious lounge, family kitchen, and utility room along with two storage cupboards.
Upstairs, there are two large double bedrooms and a family bathroom.
Outside, the property features an enclosed garden, parking to the rear of the property.
The property is currently let with a tenant in situ, achieving £375 per calendar month.
Additional benefits include parking to the rear and a location close to all local amenities.

Being Sold via Secure Sale online bidding. Terms & Conditions apply. Starting Bid £60,000

Pattinson Auction are working in Partnership with the marketing agent on this online auction sale and are referred to below as `The Auctioneer`.

This auction lot is being sold either under conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent. The property is available to be viewed strictly by appointment only via the Marketing Agent or The Auctioneer. Bids can be made via the Marketing Agents or via The Auctioneers website.

Please be aware that any enquiry, bid or viewing of the subject property will require your details being shared between both any marketing agent and The Auctioneer in order that all matters can be dealt with effectively.

The property is being sold via a transparent online auction.

In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification of identity process in accordance with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere.

Our verification process is in place to ensure that AML procedure are carried out in accordance with the law.

A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers` obligations and sellers` commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase. Auctioneers Additional Comments

In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price of the property. The deposit will be a contribution to the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum of 6,000 inc VAT) is also required to be paid upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs. Both the Marketing Agent and The Auctioneer may believe necessary or beneficial to the customer to pass their details to third party service suppliers, from which a referral fee may be obtai

Notice
Please note we have not tested any apparatus, fixtures, fittings, or services. Interested parties must undertake their own investigation into the working order of these items. All measurements are approximate and photographs provided for guidance only.

Agent Details

Pridea Sales and Lettings, Lincoln

01522 303101

Next Steps?

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