4 Bed Detached House, Refurb/BRRR, Grimsby, DN36 5UP, £350,000

NORTH COTES, Tuttle Farm, Lock Road, DN36 5UP - a month ago

Sold STC
Refurb/BRRR
ROI: 1%
~129 m²

ValuationOvervalued

Sold Prices£212.5K - £490K
Sold Prices/m²£1.5K/m² - £3K/m²

 

 

Square Metres

~129.26 m²
Price/m²£2.7K/m²

Value Estimate

£246,500

 

 

End Value (After Refurb)

£297,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£87,500

Stamp Duty & Legal Fees

£26,200

Refurb Costs

£52,271

Bridging Loan Interest

£9,188

Total Cash In

£176,909

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£297,000

Mortgage (After Refinance)

£222,750

Mortgage LTV

75%

Cash Left In

£176,909

Equity

£74,250

Rent Range

£525 - £2,500

Rent Estimate

£1,343

Running Costs/mo

£1,217

Cashflow/mo

£126

Cashflow/yr

£1,515

ROI

1%

Gross Yield

5%

Local Sold Prices

19 sold prices from £212.5K to £490K, average is £310K. £1.5K/m² to £3K/m², average is £2.1K/m².

PriceDateDistanceAddressBeds 
£370K02/210.66 mi14, Fleetway, North Cotes, Grimsby, Lincolnshire DN36 5UT4
£376K01/210.66 miHillcrest, Fleetway, North Cotes, Grimsby, Lincolnshire DN36 5UT4
£300K09/211.37 miBakehouse Cottage, Hallgarth, Marshchapel, Grimsby, Lincolnshire DN36 5TQ4
£305K03/211.46 miTudor House, Littlefield Lane, Marshchapel, Grimsby, Lincolnshire DN36 5TJ4
£358K02/211.51 miCherry Grove, Sea Dyke Way, Marshchapel, Grimsby, Lincolnshire DN36 5SX4
£490K12/201.51 miThe Elms, Sea Dyke Way, Marshchapel, Grimsby, Lincolnshire DN36 5SX4
£340K06/231.54 mi166, Seawall Lane, North Cotes, Grimsby, Lincolnshire DN36 5XE4
£285K03/211.54 mi393, Seawall Lane, North Cotes, Grimsby, Lincolnshire DN36 5XE4
£290K12/221.61 miLindridge House, Church Lane, Tetney, Grimsby, Lincolnshire DN36 5JX4
£230K05/211.62 mi12, Swaby Close, Marshchapel, Grimsby, Lincolnshire DN36 5SA4
£212.5K02/211.85 mi8, St Johns Gate, Tetney, Grimsby, Lincolnshire DN36 5PH4
£450K07/231.86 mi3, Todds Close, Tetney, Grimsby, Lincolnshire DN36 5LD4
£265K11/212.05 mi18, Inghams Road, Tetney, Grimsby, Lincolnshire DN36 5LW4
£245K11/202.05 mi18, Inghams Road, Tetney, Grimsby, Lincolnshire DN36 5LW4
£400K02/232.12 miTintagel Cottage, Holton Road, Tetney, Grimsby, Lincolnshire DN36 5LR4
£310K06/212.73 mi19, Casswell Crescent, Fulstow, Louth, Lincolnshire LN11 0XJ4
£320K03/232.73 mi17, Casswell Crescent, Fulstow, Louth, Lincolnshire LN11 0XJ4
£390K01/212.74 miKingfisher Lodge, Northway, Fulstow, Louth, Lincolnshire LN11 0XH4
£275K11/202.74 miThe Orchards, Northway, Fulstow, Louth, Lincolnshire LN11 0XH4

Local Rents

7 rents from £525/mo to £2.5K/mo, average is £1.2K/mo.

RentDateDistanceAddressBeds 
£52503/241.12 miSea Dyke Way, Marshchapel, DN36 5TF2
£1,20004/241.88 miHumberston Road, Tetney, Grimsby1
£2,30004/241.88 miThe Barn, Thoresby Road, Tetney6
£2,50003/241.9 miThoresby Road, Tetney, DN365
£1,20004/241.96 miTown Road, Tetney4
£92503/242.09 miHedges Drive, Humberston, Grimsby, DN363
£75003/242.2 miHolton Road, Tetney, DN36 5LN2

Local Area Statistics

Population in DN36

19,164

Population in Grimsby

124,581

Town centre distance

6.67 miles away

Nearest school

0.60 miles away

Nearest train station

5.35 miles away

 

 

Rental growth (12m)

-31%

Sales demand

Buyer's market

Capital growth (5yrs)

+14%

Property History

Listed for £350,000

March 13, 2025

Description

Location
Tuttle Farm is situated to the north of North Cotes village, in the East Lindsey District of Lincolnshire and is in walking distance of the village via North Cotes Road. The market town of Louth lies approximately thirteen miles to the south and the town of Grimsby lies approximately ten miles to the north west.

Description
Tuttle Farm is set within approximately 2.50 acres, including an arable field and a detached four bedroom house, in need of renovation. The accommodation includes; kitchen, utility/pantry, two reception rooms, four double bedrooms and a family bathroom. The property benefits from UPVC double glazing throughout and open fireplaces. Externally, there is a brick built garage with wooden doors, a lawned garden and a useful area of concrete hardstanding measuring approximately 25m x 45m.

The Land
The land is currently used for arable farming and is classed as Grade 3 according to Natural England's Agricultural Land Classification Maps online for the East Midlands Region. This could lend itself ideally to a number of alternative, non-agricultural uses, including equestrian activities.

Services
The house benefits from mains water and electric supplies, an oil fired boiler and a septic tank, which was replaced in 2021.

Nitrate Vulnerable Zone
All of the land lies within a Nitrate Vulnerable Zone.

Tenure and Possession
The land is owned freehold and is being sold with the benefit of vacant possession.

Easements, Wayleaves and Rights of Way
The property is sold subject to any rights of way, reservation of minerals, water, drainage, sporting rights, other easements and wayleaves and all rights of access whether mentioned in these particulars or not.

Value Added Tax (VAT)
The sale price is agreed on a VAT exclusive basis and the Purchaser(s) shall indemnify the Vendor for any VAT which may be subsequently payable.

Viewing
Viewing is strictly by prior appointment with the Selling Agents on .

Method of Sale
The property is offered for sale as a whole by Private Treaty. Interested parties are invited to speak to Cecilie Lister of the Selling Agents on or contact the office on to discuss their interest.

Restrictive Covenants
1. Not to have on the Property at any time more than two dwellinghouses;
2. Nothing shall be set up or done on the Property or in any house or building
erected thereon which may be or grow to be a nuisance or annoyance to the
Transferor or any owner or tenant of any of the adjoining or neighbouring land
of the Transferor or their respective successors in title;
3. Not to grow or permit to grow on the Property or any part thereof any tree
bush or hedge wholly or partly consisting of yew Laburnham or any other tree
or shrub which is poisonous to livestock nor to plant a willow tree within 25m
of any ditch on the Property or any part thereof provided always that the
Transferor shall be liable for damage by stock or otherwise to any tree bush or
hedge permitted to grow along the boundary with the Retained Land.

Agent Details

DDM Agriculture, Brigg

01652 240626

Next Steps?

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