Potential 4-Bed HMO, Grimsby, DN32 9HY, £75,000

260 Convamore Road, Grimsby, Lincolnshire DN32 9HY - 3 views - 13 days ago

Auction
HMO
ROI: 30%
129 m²
+7 photos

ValuationUndervalued

Sold Prices£55K - £115K
Sold Prices/m²£524/m² - £1.4K/m²

 

 

Square Metres

129 m²
Price/m²£581/m²

Value Estimate

£93,000
BMV24%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£18,750

Stamp Duty & Legal Fees

£4,950

Total Cash In

£23,700

 

 

Cash Out

 

Room Rate

£387

Gross Rent

£1,548

Running Costs/mo

£958

Cashflow/mo

£590

Cashflow/yr

£7,076

ROI

30%

Gross Yield

25%

Local Sold Prices

50 sold prices from £55K to £115K, average is £77.8K. £524/m² to £1.4K/m², average is £851/m².

PriceDateDistanceAddressBeds 
£73K09/210.04 mi317, Convamore Road, Grimsby, North East Lincolnshire DN32 9HY3
£65K07/230.05 mi246, Convamore Road, Grimsby, North East Lincolnshire DN32 9HX3
£95.5K05/230.05 mi255, Convamore Road, Grimsby, North East Lincolnshire DN32 9HU3
£57K01/230.08 mi39, Donnington Street, Grimsby, North East Lincolnshire DN32 9EN3
£65K07/230.09 mi92, Sixhills Street, Grimsby, North East Lincolnshire DN32 9HT3
£73K02/230.11 mi65, Sixhills Street, Grimsby, North East Lincolnshire DN32 9HS3
£65K03/230.11 mi67, Sixhills Street, Grimsby, North East Lincolnshire DN32 9HS3
£67.5K07/230.12 mi319, Convamore Road, Grimsby, North East Lincolnshire DN32 9HZ3
£72K06/230.15 mi5, Ladysmith Road, Grimsby, North East Lincolnshire DN32 9EF3
£70K08/210.16 mi1, Thomas Street, Grimsby, North East Lincolnshire DN32 9HP3
£75K11/210.17 mi21, Cooper Road, Grimsby, North East Lincolnshire DN32 8DF3
£88K08/230.17 mi29, Cooper Road, Grimsby, North East Lincolnshire DN32 8DF3
£90K02/230.17 mi34, Cooper Road, Grimsby, North East Lincolnshire DN32 8DF3
£82K02/230.17 mi70, Durban Road, Grimsby, North East Lincolnshire DN32 8BD3
£80K04/230.18 mi222, Welholme Road, Grimsby, North East Lincolnshire DN32 9JB3
£82K07/230.19 mi20, Fairmont Road, Grimsby, North East Lincolnshire DN32 8DZ3
£94K01/230.2 mi92, Heneage Road, Grimsby, North East Lincolnshire DN32 9JJ3
£55K06/210.2 mi55, Heneage Road, Grimsby, North East Lincolnshire DN32 9JJ3
£80K03/230.2 mi67, Heneage Road, Grimsby, North East Lincolnshire DN32 9JJ3
£112K05/230.2 mi1a, Buller Street, Grimsby, North East Lincolnshire DN32 8BL3
£77.5K12/200.21 mi448, Weelsby Street, Grimsby, North East Lincolnshire DN32 8DJ3
£61K11/200.22 mi4, Hare Street, Grimsby, North East Lincolnshire DN32 9LA3
£87K08/230.22 mi60, Hare Street, Grimsby, North East Lincolnshire DN32 9LA3
£110K06/230.24 mi90, Granville Street, Grimsby, North East Lincolnshire DN32 9NU3
£86K02/210.24 mi136, Granville Street, Grimsby, North East Lincolnshire DN32 9NU3
£100K10/210.24 mi114, Granville Street, Grimsby, North East Lincolnshire DN32 9NU3
£78K02/210.24 mi383, Weelsby Street, Grimsby, North East Lincolnshire DN32 8BJ3
£105K05/230.24 mi131, Willingham Street, Grimsby, North East Lincolnshire DN32 9PT3
£71K05/230.24 mi63, Hainton Avenue, Grimsby, North East Lincolnshire DN32 9BX3
£81K01/230.25 mi480, Weelsby Street, Grimsby, North East Lincolnshire DN32 8DL3
£61.5K11/200.25 mi168, Welholme Road, Grimsby, North East Lincolnshire DN32 9LP3
£75K06/210.25 mi59, Durban Road, Grimsby, North East Lincolnshire DN32 8BA3
£65K02/210.26 mi201, Willingham Street, Grimsby, North East Lincolnshire DN32 9PX3
£71K03/230.26 mi86, Hainton Avenue, Grimsby, North East Lincolnshire DN32 9BT3
£115K01/230.26 mi506, Weelsby Street, Grimsby, North East Lincolnshire DN32 8DN3
£100K03/230.26 mi59, Fairmont Road, Grimsby, North East Lincolnshire DN32 8DY3
£82.8K02/230.27 mi131, Patrick Street, Grimsby, North East Lincolnshire DN32 9PQ3
£75K07/230.27 mi349, Weelsby Street, Grimsby, North East Lincolnshire DN32 8BN3
£58K09/220.28 mi87, Willingham Street, Grimsby, North East Lincolnshire DN32 9BS3
£71K03/230.28 mi228, Willingham Street, Grimsby, North East Lincolnshire DN32 9PY3
£75K03/210.28 mi97, Patrick Street, Grimsby, North East Lincolnshire DN32 9PQ3
£83K05/230.29 mi61, Columbia Road, Grimsby, North East Lincolnshire DN32 8EB3
£110K07/230.29 mi76, Columbia Road, Grimsby, North East Lincolnshire DN32 8EB3
£60K04/210.29 mi59, Buller Street, Grimsby, North East Lincolnshire DN32 8BW3
£115K08/210.3 mi30, Humberstone Road, Grimsby, North East Lincolnshire DN32 8BP3
£85.5K01/210.31 mi113, Humberstone Road, Grimsby, North East Lincolnshire DN32 8DR3
£88K03/230.31 mi112, Humberstone Road, Grimsby, North East Lincolnshire DN32 8DR3
£87K11/220.32 mi102, Humberstone Road, Grimsby, North East Lincolnshire DN32 8DP3
£75K03/230.32 mi326, Willingham Street, Grimsby, North East Lincolnshire DN32 9QD3
£58K12/200.33 mi81, David Street, Grimsby, North East Lincolnshire DN32 9NN3

Local Area Statistics

Population in DN32

29,050

Population in Grimsby

124,581

Town centre distance

1.01 miles away

Nearest school

0.10 miles away

Nearest train station

0.67 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+14%

Sales demand

Balanced market

Capital growth (5yrs)

+13%

Property History

Listed for £75,000

March 7, 2025

Floor Plans

Description

  • End of Terrace +
  • Three Bedrooms +
  • Rear Yard +
  • Investor or Developer +
  • Downstairs Family Bathroom +
  • EPC Rating: D +

*ONLINE Unconditional Auction Opening 7 April 2025*
To register for the legal pack and bidding, please visit our website: auctionhouse.co.uk/lincolnshire
Situation:
The property is conveniently located on the popular and central Convamore Road, Grimsby, giving excellent access to the town centre and its wide range of facilities and amenities. Grimsby itself is well located for access to the sea front, Cleethorpes and City of Hull, along with M180 road network.

Description:
A wonderful opportunity to acquire this substantial, traditionally constructed end of terrace house, offering huge scope for both the investment and development market. The property is in fair order throughout, and in this area of high rental demand, offers the potential opportunity for redevelopment into 4 self contained units (2 studios and 2 apartments), or HMO use (both subject to planning) – both schemes could generate in excess of £2000pcm (£24,000 per annum). Internal viewing to appreciate the size and scope highly recommended.
Accommodation Ground Floor:
Entrance Hallway
Lounge
Dining Room
Kitchen
Rear Hallway
Family Bathroom

First Floor:
Bedroom 1
Bedroom 2
Bedroom 3

Outside:
Front buffer garden and courtyard to rear.
Material Information Tenure:
The property is freehold. All prospective bidders should satisfy themselves of terms of the tenure, ground rent and service charge if applicable, by inspecting the legal pack.

Council Tax:
The property falls within North East Lindsey Council – BAND A

Possession:
Vacant possession will be given upon completion.

Viewing:
Strictly by appointment with Auction House.

Services:
Prospective purchasers are advised to make their own enquiries of the relevant statutory authorities. NB: Services, Apparatus and Equipment have not been tested by Auction House and therefore cannot be verified as being in working order. The buyer is advised to obtain verification from their Solicitor/Surveyor.

These particulars are believed to be correct but their accuracy is not guaranteed and they do not form any part of any contract. Information relating to Rating and Town and Country Planning matters has been obtained by verbal enquiry only. Prospective purchasers are advised to make their own enquiries of the appropriate Authority. Information relating to Phone & Broadband can be found by visiting Ofcom. All measurements, areas and distances are approximate only. Potential purchasers are advised to check them. Tenure: Freehold EPC Rating: D Administration Fee: £1440 inc VAT payable on exchange of contracts. Buyer's Premium Fee: £1440 inc VAT payable on exchange of contracts. Disbursements: Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.

Agent Details

Auction House, Lincolnshire

01427 800574

Next Steps?

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