3 Bed Terraced House, Refurb/BRRR, Louth, LN11 8TB, £140,000

Mill Lane, Grimoldby, Louth, LN11 8TB - a month ago

Refurb/BRRR
ROI: 1%
~93 m²
+12 photos

ValuationUndervalued

Sold Prices£120K - £375K
Sold Prices/m²£1.2K/m² - £3.6K/m²

 

 

Square Metres

~93 m²
Price/m²£1.5K/m²

Value Estimate

£153,000
BMV2%

 

 

End Value (After Refurb)

£178,478

Uplift in Value

+19%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£35,000

Stamp Duty & Legal Fees

£5,700

Refurb Costs

£37,702

Bridging Loan Interest

£3,675

Total Cash In

£83,827

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£178,478

Mortgage (After Refinance)

£133,859

Mortgage LTV

75%

Cash Released

£28,859

Cash Left In

£54,968

Equity

£44,620

Rent Range

£650 - £1,000

Rent Estimate

£800

Running Costs/mo

£738

Cashflow/mo

£62

Cashflow/yr

£747

ROI

1%

Gross Yield

7%

Local Sold Prices

25 sold prices from £120K to £375K, average is £182.5K. £1.2K/m² to £3.6K/m², average is £1.8K/m².

PriceDateDistanceAddressBeds 
£170K03/210.14 mi12, Tinkle Street, Grimoldby, Louth, Lincolnshire LN11 8SW3
£243K12/220.14 mi11a, Tinkle Street, Grimoldby, Louth, Lincolnshire LN11 8SW3
£175K10/200.15 mi91, Tinkle Street, Grimoldby, Louth, Lincolnshire LN11 8SZ3
£182.5K09/230.17 miBeggars Roost, Priory Lane, Grimoldby, Louth, Lincolnshire LN11 8SP3
£190K01/210.24 miSt Annes, Hawthorne Close, Grimoldby, Louth, Lincolnshire LN11 8SR3
£177.5K10/230.28 mi119, Tinkle Street, Grimoldby, Louth, Lincolnshire LN11 8TL3
£160K02/210.29 mi6, St Edith Gate, Grimoldby, Louth, Lincolnshire LN11 8SS3
£190K12/220.4 mi11, Pleasance Way, Manby, Louth, Lincolnshire LN11 8HJ3
£190K07/210.52 mi5, Penrose Place, Manby, Louth, Lincolnshire LN11 8DZ3
£275K07/230.53 miTzigane, Grange Lane, Manby, Louth, Lincolnshire LN11 8HF3
£168K09/210.54 mi13, Gauntlet Road, Grimoldby, Louth, Lincolnshire LN11 8UH3
£158K04/230.54 mi5, Gauntlet Road, Grimoldby, Louth, Lincolnshire LN11 8UH3
£213K08/230.56 mi9, Penrose Place, Manby, Louth, Lincolnshire LN11 8DZ3
£230K01/240.56 mi5, Penrose Place, Manby, Louth, Lincolnshire LN11 8DZ3
£223K01/230.57 mi11, Chapel Lane, Manby, Louth, Lincolnshire LN11 8HQ3
£130K02/210.57 mi11, Spitfire Avenue, Grimoldby, Louth, Lincolnshire LN11 8UJ3
£120K10/200.58 mi27, Fury Avenue, Grimoldby, Louth, Lincolnshire LN11 8UN3
£152.5K09/210.58 mi26, Fury Avenue, Grimoldby, Louth, Lincolnshire LN11 8UN3
£225K07/230.58 mi28, Fury Avenue, Grimoldby, Louth, Lincolnshire LN11 8UN3
£180K11/220.63 mi1, Bulldog Crescent, Grimoldby, Louth, Lincolnshire LN11 8UW3
£220K05/230.64 miAshgrove, Canberra Crescent, Manby, Louth, Lincolnshire LN11 8TU3
£163K11/210.65 mi8, Gladiator Road, Grimoldby, Louth, Lincolnshire LN11 8UL3
£165K12/200.7 mi1, Vampire Road, Manby, Louth, Lincolnshire LN11 8TX3
£240K12/210.97 miLeas, South View Lane, South Cockerington, Louth, Lincolnshire LN11 7ED3
£375K09/230.97 miTime Craft, South View Lane, South Cockerington, Louth, Lincolnshire LN11 7ED3

Local Rents

4 rents from £650/mo to £1K/mo, average is £775/mo.

RentDateDistanceAddressBeds 
£1,00006/240.38 miSpinney Close, Grimoldby, LN11 8SY3
£80012/240.57 mi-3
£75002/230.6 mi-3
£65005/241.43 miLittle Carlton, Louth1

Local Area Statistics

Population in LN11

28,179

Population in Louth

28,197

Town centre distance

4.07 miles away

Nearest school

0.30 miles away

Nearest train station

14.14 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+12%

Sales demand

Buyer's market

Capital growth (5yrs)

+9%

Property History

Price changed to £140,000

March 12, 2025

Listed for £150,000

February 21, 2025

Floor Plans

Description

  • Guide Price £160,000 - £150,000 +
  • Mid Terrace Cottage with Character Features +
  • Offered with No Onward Chain +
  • Three Good Sized Bedrooms +
  • Spacious Lounge with Feature Fireplace +
  • Well-Appointed Kitchen/Breakfast Room +
  • Ground Floor Bathroom +
  • Generously Sized Garden & Yard Area +
  • Pleasant Village Location +
  • Opportunity for Further Improvements & Modernisation +

INTERNAL: Lounge - The front uPVC double glazed entrance door opens into the spacious lounge offering ample space for furniture with a rear aspect double glazed window, tiled flooring, a feature fireplace housing an open fire with a brick surround, wood mantel and tiled hearth, a radiator, an exposed beam and an oak door to the kitchen. Kitchen/Breakfast Room - Fitted with a range of modern high gloss wall and base units with matching worktops, an inset stainless steel sink basin with a drainer and mixer tap, space and plumbing for a set of appliances, a rear aspect double glazed window, tiled flooring and splashbacks, a radiator, a built-in storage cupboard and oak doors to the rear hallway and to the staircase to the first floor. Rear Hallway - With tiled flooring, an oak door to the bathroom and a uPVC double glazed door to the rear garden. Bathroom - Comprising a low-level WC, a wash hand basin with a mirrored cabinet, a wood panelled bath with an overhead shower and a folding screen, a frosted rear aspect double glazed window, tiled walls and flooring and a radiator. First Floor Landing - With a front aspect double glazed window, carpeted flooring and oak doors to the bedrooms. Bedroom One - Large double sized bedroom with a front aspect double glazed window, carpeted flooring, a radiator and a hatch to the loft space. Bedroom Two - Double sized bedroom with a front aspect double glazed window, carpeted flooring and a radiator. Bedroom Three - Single sized bedroom with a front aspect double glazed window, carpeted flooring and a radiator. EXTERNAL: To the rear is a fenced yard area with a gate giving access to generously sized garden with a side paved area leading to a spacious stretch of lawn, a storage shed, a small brick-built store, plants, shrubs and a mature tree and wooden fencing to the perimeter. ADDITIONAL INFORMATION: Council Tax Band: A Local Authority: East Lindsey Early viewing is highly recommended due to the property being realistically priced. Disclaimer: These particulars, whilst believed to be accurate are set out as a general guideline and do not constitute any part of an offer or contract. Intending Purchasers should not rely on them as statements of representation of fact, but must satisfy themselves by inspection or otherwise as to their accuracy. Please note that we have not tested any apparatus, equipment, fixtures, fittings or services including gas central heating and so cannot verify they are in working order or fit for their purpose. Furthermore, Solicitors should confirm moveable items described in the sales particulars and, in fact, included in the sale since circumstances do change during the marketing or negotiations. Although we try to ensure accuracy, if measurements are used in this listing, they may be approximate. Therefore if intending Purchasers need accurate measurements to order carpeting or to ensure existing furniture will fit, they should take such measurements themselves. Photographs are reproduced general information and it must not be inferred that any item is included for sale with the property. TENURE To be confirmed by the Vendor’s Solicitors POSSESSION Vacant possession upon completion VIEWING Viewing strictly by appointment through The Express Estate Agency

Agent Details

Express Estate Agency, Nationwide

03330 165458

Next Steps?

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

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