2 Bed Bungalow, Motivated Seller, Mablethorpe, LN12 1EP, £149,950

Golf Road, Mablethorpe, LN12 1EP - 22 views - 2 years ago

Motivated
Cash
~68 m²
+7 photos

ValuationFair Value

Sold Prices£96.5K - £260K
Sold Prices/m²£1.3K/m² - £4.4K/m²

 

 

Square Metres

~68.11 m²
Price/m²£2.2K/m²

Value Estimate

£149,950

 

 

End Value (After Refurb)

£168,531

Uplift in Value

+12%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£37,488

Stamp Duty & Legal Fees

£5,699

Refurb Costs

£27,600

Bridging Loan Interest

£3,936

Total Cash In

£76,472

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£168,531

Mortgage (After Refinance)

£126,398

Mortgage LTV

75%

Cash Released

£13,936

Cash Left In

£62,536

Equity

£42,133

Rent Range

£400 - £995

Rent Estimate

£599

Running Costs/mo

£666

Cashflow/mo

£-67

Cashflow/yr

£-810

Gross Yield

5%

Local Sold Prices

50 sold prices from £96.5K to £260K, average is £160K. £1.3K/m² to £4.4K/m², average is £2.6K/m².

PriceDateDistanceAddressBeds 
£199.9K09/230.07 miTwo Jays, Golf Road, Mablethorpe, Lincolnshire LN12 1EP2
£225K02/230.14 mi2, Church Lane, Mablethorpe, Lincolnshire LN12 2EP2
£150K03/210.17 mi1, Alford Road, Mablethorpe, Lincolnshire LN12 1ET2
£112K05/210.23 mi20, Rutland Road, Mablethorpe, Lincolnshire LN12 1EN2
£160K03/210.23 mi3, Rutland Road, Mablethorpe, Lincolnshire LN12 1EN2
£144K01/210.24 mi4, Church Road, Mablethorpe, Lincolnshire LN12 2EW2
£124K04/210.24 mi3, Church Road, Mablethorpe, Lincolnshire LN12 2EW2
£218K05/230.24 mi16, Church Road, Mablethorpe, Lincolnshire LN12 2EW2
£168K03/230.26 mi5, Jacklin Crescent, Mablethorpe, Lincolnshire LN12 1JH2
£220K06/210.28 mi24, Marlborough Drive, Mablethorpe, Lincolnshire LN12 2BA2
£193K11/200.28 mi8, Marlborough Drive, Mablethorpe, Lincolnshire LN12 2BA2
£135K10/200.29 mi9, Eagle Close, Mablethorpe, Lincolnshire LN12 1JJ2
£170K02/240.29 mi9, Eagle Close, Mablethorpe, Lincolnshire LN12 1JJ2
£175K09/220.3 mi15, Jacklin Crescent, Mablethorpe, Lincolnshire LN12 1JH2
£140K06/210.31 mi29, Jacklin Crescent, Mablethorpe, Lincolnshire LN12 1JH2
£150K10/210.31 mi9, Jacklin Crescent, Mablethorpe, Lincolnshire LN12 1JH2
£159.9K12/200.31 mi3, Jacklin Crescent, Mablethorpe, Lincolnshire LN12 1JH2
£160K02/210.31 mi60, Jacklin Crescent, Mablethorpe, Lincolnshire LN12 1JH2
£152K07/210.31 mi10, Jacklin Crescent, Mablethorpe, Lincolnshire LN12 1JH2
£180K06/230.31 mi43, Jacklin Crescent, Mablethorpe, Lincolnshire LN12 1JH2
£142K12/200.31 mi45, Jacklin Crescent, Mablethorpe, Lincolnshire LN12 1JH2
£137.5K03/210.31 mi12, Jacklin Crescent, Mablethorpe, Lincolnshire LN12 1JH2
£179K03/240.31 mi27, Jacklin Crescent, Mablethorpe, Lincolnshire LN12 1JH2
£155K09/210.33 mi171, Golf Road, Mablethorpe, Lincolnshire LN12 1EZ2
£260K10/220.34 mi31, Winchester Drive, Mablethorpe, Lincolnshire LN12 2AY2
£180K02/230.34 mi29, Jacklin Crescent, Mablethorpe, Lincolnshire LN12 1JH2
£184K02/240.35 mi18, The Green, Mablethorpe, Lincolnshire LN12 1JS2
£150K06/210.35 mi5, The Green, Mablethorpe, Lincolnshire LN12 1JS2
£123K08/210.37 mi25, Cheltenham Way, Mablethorpe, Lincolnshire LN12 2AX2
£178K06/230.37 mi19, Cheltenham Way, Mablethorpe, Lincolnshire LN12 2AX2
£245.5K10/230.37 mi14, Cheltenham Way, Mablethorpe, Lincolnshire LN12 2AX2
£132.5K11/210.37 mi21, Cheltenham Way, Mablethorpe, Lincolnshire LN12 2AX2
£160K06/210.37 mi41, Cheltenham Way, Mablethorpe, Lincolnshire LN12 2AX2
£160K11/210.39 mi39, Mayflower Way, Mablethorpe, Lincolnshire LN12 1EY2
£180K08/230.39 mi28, Mayflower Way, Mablethorpe, Lincolnshire LN12 1EY2
£140K06/230.39 mi19, Mayflower Way, Mablethorpe, Lincolnshire LN12 1EY2
£96.5K11/200.4 mi130, High Street, Mablethorpe, Lincolnshire LN12 1DG2
£156K05/220.4 mi132, High Street, Mablethorpe, Lincolnshire LN12 1DG2
£163K02/210.4 mi26, Mayflower Way, Mablethorpe, Lincolnshire LN12 1EY2
£145K10/210.41 mi28a, Alexandra Road, Mablethorpe, Lincolnshire LN12 1BJ2
£130K05/230.41 mi38, Alexandra Road, Mablethorpe, Lincolnshire LN12 1BJ2
£165K07/210.42 mi18, Winchester Drive, Mablethorpe, Lincolnshire LN12 2AY2
£170K01/210.42 mi40, Winchester Drive, Mablethorpe, Lincolnshire LN12 2AY2
£165K12/200.42 mi31, Winchester Drive, Mablethorpe, Lincolnshire LN12 2AY2
£193K12/200.42 mi29, Winchester Drive, Mablethorpe, Lincolnshire LN12 2AY2
£190K02/240.43 mi34, Hawthorn Drive, Mablethorpe, Lincolnshire LN12 1FR2
£145K07/230.43 mi20, Hawthorn Drive, Mablethorpe, Lincolnshire LN12 1FR2
£250K12/220.43 mi13, Hawthorn Drive, Mablethorpe, Lincolnshire LN12 1FR2
£150K04/210.45 mi4, Lyle Close, Mablethorpe, Lincolnshire LN12 1RH2
£162K02/210.45 mi19, Lyle Close, Mablethorpe, Lincolnshire LN12 1RH2

Local Rents

23 rents from £400/mo to £995/mo, average is £495/mo.

RentDateDistanceAddressBeds 
£40005/240.57 miWellington Road, Mablethorpe1
£89501/250.64 mi-2
£50005/240.7 miVictoria Road, Mablethorpe2
£49505/240.71 miSeacroft Road, Mablethorpe, LN121
£90005/240.73 miSeaholme Road, MABLETHORPE3
£59505/240.78 miVictoria Road, Mablethorpe, LN121
£45005/240.85 miVictoria Road, Mablethorpe, LN121
£72506/240.85 mi93 Victoria Road, Mablethorpe, LN122
£85005/240.87 miPoplar Avenue, Mablethorpe, LN122
£47505/241.03 miMablethorpe Park, Seaholme Road, Mablethorpe, LN121
£43505/241.19 miSutton Road, Lincolnshire, LN121
£41505/241.19 mi-1
£41505/241.19 mi-1
£43502/241.19 mi-1
£43502/241.19 mi-1
£43503/241.19 mi-1
£43503/241.19 mi-1
£57507/241.21 mi-1
£95005/241.23 miBarton Close, Thrusthorpe2
£40005/241.52 miSt Peters Lane South, Trusthorpe, Mablethorpe, LN121
£99505/242.11 miTrusthorpe Road, Sutton on Sea, LN123
£59505/242.38 miHigh Street, Sutton on Sea, LN122
£72505/242.43 miSutton-On-Sea 2

Local Area Statistics

Population in LN12

13,244

Town centre distance

0.08 miles away

Nearest school

0.20 miles away

Nearest train station

14.16 miles away

 

 

Rental growth (12m)

-3%

Sales demand

Buyer's market

Capital growth (5yrs)

+31%

Property History

Listed for £149,950

February 28, 2023

Sold for £116,000

2007

Sold for £38,000

2002

Floor Plans

Description

  • Semi detached bungalow +
  • Two bedrooms +
  • Reception room +
  • Kitchen +
  • Bathroom +
  • Driveway +
  • Garden +
  • Open views to the front +
  • Quiet location +
  • Close to amenities +

REDUCED BY MOTIVATED SELLERSChoice Properties are delighted to bring to the market this spacious two bedroom semi detached bungalow with a generously sized garden. This well laid out property offers a new boiler installed in 2021 and a recently installed kitchen. The property further benefits from open views to the front and is located in a quiet residential position close to local amenities. Please note this property is being offered with no upper chain.

The well laid out accommodation comprises:

Entrance Porch - 1.11m x 1.60m (3'8" x 5'3") - Door to:-

Reception Room - 3.37m x 3.96m (11'1" x 13'0") - Bay window to front aspect, TV Aerial point, telephone point.

Hall - 2.18m x 1.07m (7'2" x 3'6") - Wall mounted consumer unit, inset spot light to the ceiling.

Conservatory - 2.53m x 4.66m (8'4" x 15'3") - Polycarbonate roof, patio door to rear aspect into the garden.

Kitchen - 4.19m x 2.00m (13'9" x 6'7") - Fitted with a range of wall and base unit with worktops over, one bowl resin sink unit with drainer and stainless steel mixer taps, integral cooker with four ring electric hob and stainless steel extractor hood over, space for fridge/freezer, ample appliance space including washing machine, tumble dryer and dishwasher, tiled walls, wall mounted Worcester combination boiler.

Bedroom 1 - 2.45m x 3.49m (8'0" x 11'5") - Double bedroom.

Bedroom 2 - 2.25m x 3.04m (7'5" x 10'0") - Bay window to front aspect.

Bathroom - 1.34m x 2.34m (4'5" x 7'8") - Fitted with a three piece suite comprising panelled bath with single taps and electric shower over, wash hand basin with single taps set into vanity unit, clos coupled wc, tiled walls.

Driveway - Gravelled driveway providing parking for several vehicles.

Garden - To the rear of the property is a privately enclosed garden, secured with timber fencing to the boundaries. The garden is partly laid to lawn with a spacious paved patio seating area and gravelled section with raised planter. Double timber gates to the side of the property provide access to the front of the bungalow.

Tenure - Freehold

Viewing Arrangements - By appointment through Choice Properties on .

Opening Hours - Monday to Friday 9.00 a.m. to 5.00 p.m.
Saturday 9.00 a.m. to 3.00 p.m.

Making An Offer - If you are interested in making an offer on this property please have a chat with us and we will be happy to start the negotiations for you. Under money laundering regulation we will ask you to provide us with formal photographic ID by way of either a passport or driving licence. If you are travelling from afar we would advise bringing this documentation with you just in case this home is perfect for you.
We would also like to make you aware that we will require details of your estate agents, proof of funds should you be a cash buyer and solicitors details, as this helps us to start the transaction quickly for you.

Council Tax Band - Local Authority - East Lindsey District Council,
The Hub,
Mareham Road,
Horncastle,
Lincolnshire,
LN9 6PH
Tel. No.
Website:

Council Tax Band - According to the Valuation Office Agency Website the property is currently in Council Tax Band A Amount payable for 2022/2023 is £1,278.40

Choice Properties have not tested any included apparatus, equipment, fixtures, fittings, central heating systems or services mentioned in these particulars and purchasers are advised to satisfy themselves as to their working order and condition. Buyers are strongly advised to obtain verification from their Solicitor or Surveyor regarding the working order and condition of all the items included. These particulars do not constitute, nor constitute any part of, an offer or contract. All statements contained in these particulars as to this property are made without responsibility on the part of Choice Properties or the vendors or lessors. None of the statements contained in these particulars as to this property are to be relied on as statements or representations of fact. All measurements have been taken as a guide to prospective buyers only, and are approximate. Any intending purchasers must satisfy themselves by inspection or otherwise as to the correctness of each of the statements contained in these particulars The vendors do not make or give and neither Choice Properties nor any person in their employment has any authority to make or give any representation or warranty whatever in relation to this property.

Agent Details

Choice Properties, Mablethorpe

01507 307623

Next Steps?

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