3 Bed Bungalow, Refurb/BRRR, Grimsby, DN37 9NB, £115,000

Woad Lane, Great Coates, Grimsby, Lincolnshire, DN37 9NB - a month ago

Auction
Refurb/BRRR
ROI: 2%
~93 m²
+7 photos

ValuationFair Value

Sold Prices£60K - £215K
Sold Prices/m²£706/m² - £2.2K/m²

 

 

Square Metres

~93 m²
Price/m²£1.2K/m²

Value Estimate

£114,882

 

 

End Value (After Refurb)

£122,659

Uplift in Value

+7%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£28,750

Stamp Duty & Legal Fees

£6,950

Refurb Costs

£37,686

Bridging Loan Interest

£3,019

Total Cash In

£78,154

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£122,659

Mortgage (After Refinance)

£91,995

Mortgage LTV

75%

Cash Released

£5,745

Cash Left In

£72,410

Equity

£30,665

Rent Range

£495 - £995

Rent Estimate

£682

Running Costs/mo

£540

Cashflow/mo

£142

Cashflow/yr

£1,707

ROI

2%

Gross Yield

7%

Local Sold Prices

50 sold prices from £60K to £215K, average is £94.5K. £706/m² to £2.2K/m², average is £1.2K/m².

PriceDateDistanceAddressBeds 
£97.5K03/210.07 mi22, Newbury Avenue, Great Coates, Grimsby, North East Lincolnshire DN37 9NQ3
£189.9K06/230.07 mi46, Woad Lane, Great Coates, Grimsby, North East Lincolnshire DN37 9NE3
£135K10/210.07 mi44, Woad Lane, Great Coates, Grimsby, North East Lincolnshire DN37 9NE3
£136K11/200.09 mi86, Woad Lane, Great Coates, Grimsby, North East Lincolnshire DN37 9ND3
£155K04/210.09 mi88, Woad Lane, Great Coates, Grimsby, North East Lincolnshire DN37 9ND3
£215K08/230.17 mi17, Holme Farm Close, Great Coates, Grimsby, North East Lincolnshire DN37 9NZ3
£65K11/200.24 mi646, Cromwell Road, Grimsby, North East Lincolnshire DN37 9JE3
£93.5K06/220.24 mi620, Cromwell Road, Grimsby, North East Lincolnshire DN37 9JQ3
£75K06/230.24 mi24, Tintern Walk, Grimsby, North East Lincolnshire DN37 9JF3
£99K05/210.24 mi610, Cromwell Road, Grimsby, North East Lincolnshire DN37 9JQ3
£88K09/230.24 mi616, Cromwell Road, Grimsby, North East Lincolnshire DN37 9JQ3
£210K04/230.27 mi61, Station Road, Great Coates, Grimsby, North East Lincolnshire DN37 9NL3
£92K11/230.27 mi38, Tintern Walk, Grimsby, North East Lincolnshire DN37 9JG3
£90K12/220.31 mi7, Ravenscar Road, Grimsby, North East Lincolnshire DN37 9LQ3
£76K03/210.31 mi2, Ravenscar Road, Grimsby, North East Lincolnshire DN37 9LQ3
£80K06/210.33 mi8, Saltergate, Grimsby, North East Lincolnshire DN37 9LD3
£114.5K08/220.33 mi11, St Chads Gate, Grimsby, North East Lincolnshire DN37 9LH3
£90K06/220.36 mi60, Melrose Way, Grimsby, North East Lincolnshire DN37 9HZ3
£78K04/210.36 mi13, Melrose Way, Grimsby, North East Lincolnshire DN37 9HZ3
£87.5K11/210.36 mi3, Buckfast Close, Grimsby, North East Lincolnshire DN37 9HY3
£175K07/210.36 mi11, Waxwing Way, Great Coates, Grimsby, North East Lincolnshire DN37 9HS3
£195K08/230.36 mi11, Waxwing Way, Great Coates, Grimsby, North East Lincolnshire DN37 9HS3
£127.5K12/200.37 mi14, Osprey Drive, Great Coates, Grimsby, North East Lincolnshire DN37 9HT3
£159.9K07/230.37 mi14, Osprey Drive, Great Coates, Grimsby, North East Lincolnshire DN37 9HT3
£160K12/220.37 mi21, Osprey Drive, Great Coates, Grimsby, North East Lincolnshire DN37 9HT3
£88K05/210.39 mi12, St Chads Walk South, Grimsby, North East Lincolnshire DN37 9JZ3
£160K10/210.42 mi28, Station Road, Great Coates, Grimsby, North East Lincolnshire DN37 9NN3
£154K01/210.42 mi20, Station Road, Great Coates, Grimsby, North East Lincolnshire DN37 9NN3
£168K01/230.44 mi11, Cooks Lane, Great Coates, Grimsby, North East Lincolnshire DN37 9NW3
£70K10/200.45 mi51, Westerdale Way, Grimsby, North East Lincolnshire DN37 9BZ3
£75K03/210.45 mi57, Westerdale Way, Grimsby, North East Lincolnshire DN37 9BZ3
£70K11/200.45 mi47, Eskdale Way, Grimsby, North East Lincolnshire DN37 9EB3
£60K01/210.45 mi11, Cranwell Drive, Grimsby, North East Lincolnshire DN37 9LU3
£98K05/210.48 mi14, Cheshire Walk, Grimsby, North East Lincolnshire DN37 9AR3
£89.5K06/220.49 mi29, Campbell Grove, Grimsby, North East Lincolnshire DN37 9AH3
£90K12/200.56 mi50, Cheshire Walk, Grimsby, North East Lincolnshire DN37 9AP3
£92K05/210.56 mi50, Cheshire Walk, Grimsby, North East Lincolnshire DN37 9AP3
£95.5K05/230.56 mi54, Cheshire Walk, Grimsby, North East Lincolnshire DN37 9AP3
£110K04/230.56 mi12, Queensway, Grimsby, North East Lincolnshire DN37 9BB3
£82K04/210.56 mi80, Queensway, Grimsby, North East Lincolnshire DN37 9AY3
£105K12/200.56 mi12, Loft Avenue, Grimsby, North East Lincolnshire DN37 9AG3
£90K04/210.57 mi9, Whitgift Way, Grimsby, North East Lincolnshire DN37 9AJ3
£90K01/210.58 mi17, Queensway, Grimsby, North East Lincolnshire DN37 9BD3
£70K02/210.59 mi18, Ampleforth Avenue, Grimsby, North East Lincolnshire DN37 9AA3
£96K03/210.59 mi22, Ampleforth Avenue, Grimsby, North East Lincolnshire DN37 9AA3
£91K07/220.59 mi18, Binbrook Way, Grimsby, North East Lincolnshire DN37 9AS3
£70K11/200.59 mi40, Binbrook Way, Grimsby, North East Lincolnshire DN37 9AS3
£160K11/200.62 mi18, Larmour Road, Grimsby, North East Lincolnshire DN37 9HH3
£110K09/230.64 mi28, Ampleforth Avenue, Grimsby, North East Lincolnshire DN37 9AB3
£152K12/200.64 mi7, Ashby Close, Grimsby, North East Lincolnshire DN37 9HJ3

Local Rents

34 rents from £495/mo to £995/mo, average is £638/mo.

RentDateDistanceAddressBeds 
£60003/240.33 mi-3
£89512/240.37 miOsprey Drive, Grimsby3
£89502/250.41 mi-3
£62503/240.53 miWingate Road, Grimsby, Lincolnshire, DN373
£52508/240.91 mi-3
£65012/240.93 mi-3
£62502/240.96 mi-3
£59007/230.97 mi-3
£62505/240.97 miSpring Bank, Grimsby3
£60005/240.97 mi-3
£69511/230.98 mi-3
£62510/240.99 mi-3
£99502/251.01 mi-3
£63503/241.01 miTyler Avenue, Grimsby3
£67504/241.02 miRoseveare Avenue, Grimsby, Lincolnshire, DN313
£99005/241.02 miMacaulay Park, Grimsby, DN313
£65002/251.03 mi-3
£65003/241.03 miRoseveare Avenue, Grimsby3
£49503/241.04 miElsenham Road, Grimsby3
£62511/241.06 mi-3
£62505/241.06 miSpring Bank, Grimsby, DN343
£82503/241.07 miSilver Birch Place, Grimsby, DN343
£63001/241.1 mi-3
£64009/241.1 mi-3
£70004/241.15 miToothill Gardens, Grimsby, North East Lincs, DN34 3
£85012/241.18 miDefender Drive, Grimsby, Lincolnshire, DN373
£72503/241.21 miSanctuary Way, Grimsby, DN373
£55004/241.21 miCorporation Road, Grimsby3
£64508/241.22 mi-3
£70004/251.23 mi-3
£55003/241.23 miLancaster Avenue, Grimsby3
£89512/241.24 miSt. Nicholas Drive, Wybers Wood, Grimsby, DN373
£59503/241.24 miCorporation Road, Grimsby3
£60003/241.24 miLawrence Street, Grimsby3

Local Area Statistics

Population in DN37

21,700

Population in Grimsby

124,581

Town centre distance

1.88 miles away

Nearest school

0.30 miles away

Nearest train station

0.21 miles away

 

 

Rental growth (12m)

-16%

Sales demand

Buyer's market

Capital growth (5yrs)

+17%

Property History

Listed for £115,000

March 11, 2025

Floor Plans

Description

  • For Sale Via Online Auction +
  • Semi-Detached Bungalow +
  • Three Bedrooms +
  • Spacious Accommodation +
  • Generous Plot, Driveway & Garage +
  • Refurbishment Required +

This semi-detached bungalow, currently listed for sale, is nestled in the heart of Great Coates village. Offering a unique opportunity for investors or retirees, the property boasts an enviable position with open fields to the rear and excellent public transport links nearby.

The property requires renovation, but it offers a generous plot and a wealth of potential. It benefits from uPVC double glazing and is gas central heating, ensuring a warm and comfortable living space once refurbished. The driveway and garage provide ample off-street parking.

Internally, the accommodation comprises of a spacious reception room with an inviting bay window. The kitchen is ready for a new owner to put their stamp on it. The property hosts three spacious bedrooms, adding to its appeal as a remarkable investment opportunity. The bathroom is fitted with a bath, sink, and shower.

One of the unique features of this property is that it is being sold by online secure bidding, a modern method of auction, paired with no onward chain, adding to the speed and ease of the transaction. The combination of its prime location, open field views, and the potential it presents, makes this property a worthy investment.

Council Tax Band: B
Tenure: Freehold

Agent Details

Pattinson Estate Agents, Auction

0191 625 0242

Next Steps?

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