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

312D5 Patrick Street, Grimsby, DN32 0JZ - 2 views - 7 days ago

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

ValuationOvervalued











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%













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?

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

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