3 Bed Detached House, Refurb/BRRR, Scunthorpe, DN16 1LZ, £130,000

King Edward Street, Scunthorpe, North Lincolsnhire, DN16 1LZ - 19 days ago

Auction
Refurb/BRRR
ROI: 2%
~93 m²
+16 photos

ValuationFair Value

Sold Prices£70K - £265K
Sold Prices/m²£909/m² - £2.4K/m²

 

 

Square Metres

~93 m²
Price/m²£1.4K/m²

Value Estimate

£131,300

 

 

End Value (After Refurb)

£144,570

Uplift in Value

+11%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£32,500

Stamp Duty & Legal Fees

£7,800

Refurb Costs

£37,600

Bridging Loan Interest

£3,413

Total Cash In

£83,063

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£144,570

Mortgage (After Refinance)

£108,428

Mortgage LTV

75%

Cash Released

£10,928

Cash Left In

£72,135

Equity

£36,143

Rent Range

£625 - £1,000

Rent Estimate

£801

Running Costs/mo

£632

Cashflow/mo

£169

Cashflow/yr

£2,028

ROI

2%

Gross Yield

7%

Local Sold Prices

50 sold prices from £70K to £265K, average is £142.8K. £909/m² to £2.4K/m², average is £1.5K/m².

PriceDateDistanceAddressBeds 
£147K03/230.08 mi69, Maple Tree Way, Scunthorpe, North Lincolnshire DN16 1LR3
£166K12/220.09 mi55, Maple Tree Way, Scunthorpe, North Lincolnshire DN16 1LR3
£215K11/200.1 mi92, Ashby Road, Scunthorpe, North Lincolnshire DN16 1NR3
£175K02/210.1 mi38, Ashby Road, Scunthorpe, North Lincolnshire DN16 1NR3
£180K11/210.11 mi58, Ashby Road, Scunthorpe, North Lincolnshire DN16 1NR3
£110K07/210.13 mi14, King Edward Street, Scunthorpe, City Of Kingston Upon Hull DN16 1LH3
£120K02/210.13 mi29, King Edward Street, Scunthorpe, North Lincolnshire DN16 1LH3
£150K12/220.14 mi16, Neath Road, Scunthorpe, North Lincolnshire DN16 1LW3
£137.5K07/230.15 mi12, Maple Tree Way, Scunthorpe, North Lincolnshire DN16 1LN3
£127K12/200.15 mi9, Maple Tree Way, Scunthorpe, North Lincolnshire DN16 1LN3
£132.5K08/230.17 mi9, Plum Tree Way, Scunthorpe, North Lincolnshire DN16 1LJ3
£103K05/210.17 mi18, Plum Tree Way, Scunthorpe, North Lincolnshire DN16 1LJ3
£115K06/210.17 mi22, Plum Tree Way, Scunthorpe, North Lincolnshire DN16 1LJ3
£95K11/200.17 mi3, Plum Tree Way, Scunthorpe, North Lincolnshire DN16 1LJ3
£105K05/210.21 mi41, Plum Tree Way, Scunthorpe, North Lincolnshire DN16 1LL3
£130K01/210.24 mi49, Bushfield Road, Scunthorpe, North Lincolnshire DN16 1ND3
£183K03/230.24 miSlaidburn, Redbourn Way, Scunthorpe, North Lincolnshire DN16 1NG3
£142.5K12/200.27 mi32, Haig Avenue, Scunthorpe, North Lincolnshire DN16 1DZ3
£107.5K11/200.27 mi15, Haig Avenue, Scunthorpe, North Lincolnshire DN16 1DZ3
£119.5K06/230.27 mi50, Haig Avenue, Scunthorpe, North Lincolnshire DN16 1DZ3
£70K07/230.27 mi9, Haig Avenue, Scunthorpe, North Lincolnshire DN16 1DZ3
£180K08/230.29 mi11, Rugby Road, Scunthorpe, North Lincolnshire DN16 2DD3
£132.5K05/210.29 mi89, Cemetery Road, Scunthorpe, North Lincolnshire DN16 1EB3
£87K11/210.31 mi56, Cemetery Road, Scunthorpe, North Lincolnshire DN16 1EA3
£165K01/230.31 mi23, Old Brumby Street, Scunthorpe, North Lincolnshire DN16 2DA3
£167.5K01/210.31 mi17, Old Brumby Street, Scunthorpe, North Lincolnshire DN16 2DA3
£169.9K04/210.32 mi10, Lloyds Avenue, Scunthorpe, North Lincolnshire DN17 1BX3
£175K04/230.33 mi16, Rivelin Crescent, Scunthorpe, North Lincolnshire DN16 2AL3
£185K08/210.34 mi45, Lloyds Avenue, Scunthorpe, North Lincolnshire DN17 1BY3
£225K07/230.34 mi47a, Brumby Wood Lane, Scunthorpe, North Lincolnshire DN17 1AA3
£170K03/230.34 mi11, Brumby Wood Lane, Scunthorpe, North Lincolnshire DN17 1AA3
£142K02/230.35 mi55, Brumby Wood Lane, Scunthorpe, North Lincolnshire DN17 1AA3
£150K03/210.36 mi16, Atlas Road, Scunthorpe, North Lincolnshire DN17 1BZ3
£147K02/230.37 mi73, Old Brumby Street, Scunthorpe, North Lincolnshire DN16 2AJ3
£167K05/230.38 mi186, Cemetery Road, Scunthorpe, North Lincolnshire DN16 1NU3
£141K03/210.39 mi17, Norwood Avenue, Scunthorpe, North Lincolnshire DN15 7AR3
£155K06/230.39 mi21, Norwood Avenue, Scunthorpe, North Lincolnshire DN15 7AR3
£125K11/200.41 mi74, Rowland Road, Scunthorpe, North Lincolnshire DN16 1ST3
£120K07/210.42 mi35, West Common Crescent, Scunthorpe, North Lincolnshire DN17 1DQ3
£105K12/200.43 mi79, Fairmont Crescent, Scunthorpe, North Lincolnshire DN16 1EL3
£95K12/200.43 mi25, Fairmont Crescent, Scunthorpe, North Lincolnshire DN16 1EL3
£157K04/210.44 mi20, West Common Crescent, Scunthorpe, North Lincolnshire DN17 1DJ3
£143K03/210.44 mi8, West Common Crescent, Scunthorpe, North Lincolnshire DN17 1DJ3
£82.5K07/210.45 mi10, Hallgarth Avenue, Scunthorpe, North Lincolnshire DN16 1UG3
£180K10/210.45 mi57, Church Lane, Scunthorpe, North Lincolnshire DN15 7AE3
£130K11/200.45 mi29, Church Lane, Scunthorpe, North Lincolnshire DN15 7AE3
£245K07/210.45 mi2, Church Lane, Scunthorpe, North Lincolnshire DN15 7AE3
£265K01/210.45 mi4, Fuchsia Croft, Scunthorpe, North Lincolnshire DN15 7DB3
£265K01/210.45 mi4, Fuchsia Croft, Scunthorpe, North Lincolnshire DN15 7DB3
£88K02/210.45 mi105, Cottage Beck Road, Scunthorpe, North Lincolnshire DN16 1UE3

Local Rents

17 rents from £625/mo to £1K/mo, average is £795/mo.

RentDateDistanceAddressBeds 
£62503/240.21 miAbercorn Street, SCUNTHORPE3
£67503/240.28 miHaig Avenue, Scunthorpe3
£65003/240.29 miRowland Road, Scunthorpe3
£1,00002/250.41 mi-3
£90004/250.41 mi-3
£80003/250.47 mi-3
£78001/240.48 mi-3
£78001/240.48 mi-3
£72512/230.53 mi-3
£80004/240.53 mi-3
£79502/250.53 mi-3
£81502/250.53 mi-3
£79502/250.53 mi-3
£92504/240.58 miVicarage Gardens, Scunthorpe3
£92504/240.58 miVicarage Gardens, Scunthorpe3
£75012/240.6 mi-3
£85005/240.61 miExeter Road, Scunthorpe, DN153

Local Area Statistics

Population in DN16

31,697

Population in Scunthorpe

105,498

Town centre distance

0.12 miles away

Nearest school

0.10 miles away

Nearest train station

0.35 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+24%

Sales demand

Seller's market

Capital growth (5yrs)

+27%

Property History

Listed for £130,000

March 27, 2025

Floor Plans

Description

  • NO CHAIN +
  • Extended Detached Family Home +
  • Three Bedrooms +
  • Spacious Lounge and Separate Dining Room +
  • Modern Shower Room +
  • Off-Road Parking +
  • For Sale By Auction – T & C’s Apply +
  • Subject to an Undisclosed Reserve Price +
  • Reservation Fee Applicable +
  • The Modern Method of Auction +

ARE YOU LOOKING FOR YOUR NEXT INVESTMENT OPPORTUNITY??

DDM PROPERTY AUCTION: For sale by Modern Method of Auction: Starting Bid Price £130,000 plus reservation fee.

Exciting opportunity to purchase this spacious three-bedroom detached family home that is situated on King Edward Street in Scunthorpe and boasts a spacious lounge and a separate dining room, a fitted kitchen, and a modern shower room. This property also from benefits off-road parking and generous rear gardens. This home offers potential for modernisation throughout and is an ideal for first-time buyers, growing families or investors looking to add to their portfolio for the busy rental market in the town.

Don't miss out on this opportunity to own a versatile property with plenty of room for customisation. Contact us today to schedule a viewing.

Step Inside
As you enter the property you are greeted by a spacious entrance hallway with a staircase leading to the first floor and an understairs storage cupboard. Leading off the central hallway is the spacious extended living room that features a brick-built fireplace and glazed French doors that flow seamlessly out to the garden. The property also boasts a generously proportioned dining room that enjoys a bay window and overlooks the front garden. To complete the ground floor of this superbly spacious family home is a fitted kitchen that offers true potential to become the heart of this home and has a range of wooden fronted base and wall-mounted Shaker-style cabinets with a built-in oven, hob and extractor fan and has an access door into the rear garden.

Venturing upstairs, you'll find a front aspect double bedroom that benefits from fitted furniture, and an additional double bedroom also boasts fitted wardrobes for all storage needs and overlooks the rear garden. A further single bedroom is currently utilised as an office by the current owners and completes the sleeping accommodation. All bedrooms are conveniently served by the modern three-piece shower room that has a walk-in shower cubicle, a hand wash basin and W.C.

STEP OUTSIDE
Externally, the property is fronted by a garden that is predominantly laid to lawn with mature hedges, decoratively planted borders and timber fencing. An ample driveway provides off-road parking and leads down the side of the property to the single detached garage. To the rear is good size garden that is mainly laid to lawn and enjoys maturely planted borders, a greenhouse, an Anderson shelter, a patio seating area for entertaining with all being encompassed with timber fencing for privacy.

Location
This property enjoys a highly sought-after location, offering excellent accessibility to a variety of amenities and services. Families will appreciate the proximity to several well-regarded primary and secondary schools, making it an ideal choice for those with children. Nature lovers and outdoor enthusiasts will benefit from being within walking distance of Central Park, a beautiful green space perfect for leisurely strolls, jogging, or family outings. The Pods Leisure Centre is also nearby, providing modern fitness facilities, a swimming pool, and various recreational activities. Scunthorpe town centre is just a short distance away, offering an array of shops, supermarkets, and essential services, ensuring convenience for day-to-day needs. Additionally, residents will find a selection of local shops, cafes, and traditional pubs within easy walking distance, creating a friendly and welcoming community atmosphere. The area is well-served by public transport links, making commuting or travelling to nearby towns straightforward. With a combination of urban convenience and access to green spaces, this location provides an excellent balance for both work and leisure, making it an attractive place to call home.

This property is for sale by the Modern Method of Auction, meaning the buyer and seller are to Complete within 56 days (the "Reservation Period"). Interested parties personal data will be shared with the Auctioneer (iamsold).

If considering buying with a mortgage, inspect and consider the property carefully with your lender before bidding.

A Buyer Information Pack is provided. The winning bidder will pay £300.00 including VAT for this pack which you must view before bidding.

The buyer signs a Reservation Agreement and makes payment of a non-refundable Reservation Fee of 4.50% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. This is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. This is considered within calculations for Stamp Duty Land Tax.

Services may be recommended by the Agent or Auctioneer in which they will receive payment from the service provider if the service is taken. Payment varies but will be no more than £450.00. These services are optional.

TO VIEW OR MAKE A BID – Contact DDM Residential on .

Agent Details

DDM Residential, Scunthorpe

01724 514335

Next Steps?

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