Potential 4-Bed HMO, Grimsby, DN32 0JZ, £90,000

312D5 Patrick Street, Grimsby, DN32 0JZ - 27 views - a month ago

HMO
Refurb/BRRR
ROI: 11%
~93 m²
+21 photos

ValuationOvervalued

Sold Prices£57K - £218.5K
Sold Prices/m²£598/m² - £2K/m²

 

 

Square Metres

~93 m²
Price/m²£968/m²

Value Estimate

£76,458

 

 

End Value (After Refurb)

£90,500

Uplift in Value

+1%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£22,500

Stamp Duty & Legal Fees

£5,700

Refurb Costs

£37,415

Bridging Loan Interest

£2,363

Total Cash In

£69,728

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£90,500

Mortgage (After Refinance)

£67,875

Mortgage LTV

75%

Cash Released

£375

Cash Left In

£69,353

Equity

£22,625

Room Rate

£416

Gross Rent

£1,664

Running Costs/mo

£1,037

Cashflow/mo

£627

Cashflow/yr

£7,522

ROI

11%

Gross Yield

22%

Local Sold Prices

50 sold prices from £57K to £218.5K, average is £98.5K. £598/m² to £2K/m², average is £921/m².

PriceDateDistanceAddressBeds 
£133.5K06/230.04 mi130, Farebrother Street, Grimsby, North East Lincolnshire DN32 0JS3
£125K09/210.05 mi44, Farebrother Street, Grimsby, North East Lincolnshire DN32 0JU3
£95K04/210.06 mi41, Legsby Avenue, Grimsby, North East Lincolnshire DN32 0NE3
£110K10/210.07 mi141, Legsby Avenue, Grimsby, North East Lincolnshire DN32 0LA3
£100K02/210.07 mi115, Legsby Avenue, Grimsby, North East Lincolnshire DN32 0LA3
£85K04/210.07 mi113, Legsby Avenue, Grimsby, North East Lincolnshire DN32 0LA3
£80K06/230.12 mi11, Peaksfield Avenue, Grimsby, North East Lincolnshire DN32 9QE3
£66K03/210.12 mi26, Peaksfield Avenue, Grimsby, North East Lincolnshire DN32 9QE3
£72K07/230.12 mi26, Peaksfield Avenue, Grimsby, North East Lincolnshire DN32 9QE3
£115K11/200.14 mi87, Welholme Road, Grimsby, North East Lincolnshire DN32 0NL3
£159.5K05/210.14 mi196, Farebrother Street, Grimsby, North East Lincolnshire DN32 0JR3
£149K02/230.14 mi179, Farebrother Street, Grimsby, North East Lincolnshire DN32 0JP3
£141K05/230.14 mi188, Legsby Avenue, Grimsby, North East Lincolnshire DN32 0LB3
£85K01/230.15 mi13, Gertrude Street, Grimsby, North East Lincolnshire DN32 0JN3
£97K12/200.17 mi7, Bratton Court, Grimsby, North East Lincolnshire DN32 0AR3
£90K10/200.18 mi34, Legsby Avenue, Grimsby, North East Lincolnshire DN32 0NN3
£70K05/230.18 mi77, Highfield Avenue, Grimsby, North East Lincolnshire DN32 0JW3
£62K02/210.2 mi130, Lambert Road, Grimsby, North East Lincolnshire DN32 0NS3
£100K03/230.21 mi90, Lambert Road, Grimsby, North East Lincolnshire DN32 0NR3
£136K02/230.22 mi400, Hainton Avenue, Grimsby, North East Lincolnshire DN32 9QR3
£75K03/230.22 mi326, Willingham Street, Grimsby, North East Lincolnshire DN32 9QD3
£61K04/210.23 mi49, Patrick Street, Grimsby, North East Lincolnshire DN32 9NT3
£104K11/210.23 mi25, David Street, Grimsby, North East Lincolnshire DN32 9NL3
£95K08/230.23 mi21, David Street, Grimsby, North East Lincolnshire DN32 9NL3
£90K05/230.23 mi10, David Street, Grimsby, North East Lincolnshire DN32 9NL3
£76.8K12/200.25 mi11, Torrington Street, Grimsby, North East Lincolnshire DN32 9QH3
£95K10/210.27 mi204, Legsby Avenue, Grimsby, North East Lincolnshire DN32 0LB3
£61.5K11/200.27 mi168, Welholme Road, Grimsby, North East Lincolnshire DN32 9LP3
£218.5K04/230.27 mi5, Portland Place, Grimsby, North East Lincolnshire DN32 0AB3
£182.5K07/230.27 mi7, Portland Place, Grimsby, North East Lincolnshire DN32 0AB3
£199.9K02/210.27 mi5, Portland Place, Grimsby, North East Lincolnshire DN32 0AB3
£162K03/210.27 mi7, Portland Place, Grimsby, North East Lincolnshire DN32 0AB3
£156K11/200.28 mi60, Ainslie Street, Grimsby, North East Lincolnshire DN32 0LY3
£57K05/210.28 mi47, Wintringham Road, Grimsby, North East Lincolnshire DN32 0PD3
£113K04/230.28 mi37, Algernon Street, Grimsby, North East Lincolnshire DN32 9QS3
£86.5K05/210.28 mi17, Algernon Street, Grimsby, North East Lincolnshire DN32 9QS3
£150K09/210.28 mi15, Dixon Avenue, Grimsby, North East Lincolnshire DN32 0AJ3
£210K08/230.28 mi37, Dixon Avenue, Grimsby, North East Lincolnshire DN32 0AJ3
£150K08/210.28 mi7, Dixon Avenue, Grimsby, North East Lincolnshire DN32 0AJ3
£155K06/210.28 mi4, Dixon Avenue, Grimsby, North East Lincolnshire DN32 0AJ3
£185K06/230.28 mi7, Dixon Avenue, Grimsby, North East Lincolnshire DN32 0AJ3
£125K12/200.29 mi11, Weelsby Grove, Grimsby, North East Lincolnshire DN32 0AG3
£197.5K06/210.29 mi12, Portland Avenue, Grimsby, North East Lincolnshire DN32 0AA3
£61K11/200.29 mi4, Hare Street, Grimsby, North East Lincolnshire DN32 9LA3
£87K08/230.29 mi60, Hare Street, Grimsby, North East Lincolnshire DN32 9LA3
£137.5K01/230.29 mi299, Heneage Road, Grimsby, North East Lincolnshire DN32 9NW3
£86K02/230.29 mi302, Heneage Road, Grimsby, North East Lincolnshire DN32 9NW3
£87.5K01/210.31 mi12a, St Olafs Grove, Grimsby, North East Lincolnshire DN32 0HA3
£87.5K01/210.31 mi12a, St Olafs Grove, Grimsby, North East Lincolnshire DN32 0HA3
£83K09/210.31 mi326, Heneage Road, Grimsby, North East Lincolnshire DN32 9NJ3

Local Area Statistics

Population in DN32

29,050

Population in Grimsby

124,581

Town centre distance

0.60 miles away

Nearest school

0.40 miles away

Nearest train station

0.58 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+14%

Sales demand

Balanced market

Capital growth (5yrs)

+13%

Property History

Listed for £90,000

March 14, 2025

Floor Plans

Description

  • Ideal First Home / Investment +
  • Perfect Property For HMO Conversion +
  • Chain Free +
  • Slight Refurbishment Required +
  • Gas Central Heating +
  • Three Good Sized Bedrooms +
  • Close Proximity To Amenities +
  • Good Schools Catchment Area +
  • Walking Distance To Grimsby Town Centre +

A substantial 3 bedroom mid terrace situated within close proximity to good schools and main bus routes. Although in need of some slight refurbishment works, potential buyers will be pleased with the size of accommodation on offer.
This briefly comprises of, bright and welcoming entrance hallway, very spacious lounge / dining room, an extra reception room, and fully fitted kitchen with array of units and space for appliances.
The first floors also has a generous landing area which serves three principal bedrooms, two of the bedrooms are doubles and well equipped family bathroom.
Externally, the property benefits from gardens to the front and rear. Both gardens are to maintained. The rear garden that is enclosed and surrounded by 6ft fencing which helps to provide the perfect space for soaking up the summer sun.
The property also benefits from uPVC double glazing and gas central heating.
Perfect property for a first time buyer or investors.

Entrance Hallway -

Living Room / Diner - 8.26m x 3.23m (27'1 x 10'7) -

Reception Room - 3.63m x 3.05m (11'11 x 10'0) -

Kitchen - 3.30m x 2.72m (10'10 x 8'11) -

First Floor Landing -

Bedroom 1 - 4.24m x 4.09m (13'11 x 13'5) -

Bedroom 2 - 13'4 x 10'10 -

Bedroom 3 - 2.72m x 2.39m (8'11 x 7'10) -

Bathroom - 1.85m x 1.55m (6'1 x 5'1) -

Front & Rear Gardens -

Agent Details

Farrow Estate Agent Ltd, Grimsby

01472 907517

Next Steps?

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