2 Bed Terraced House, Refurb/BRRR, Gainsborough, DN21 1DT, £50,000

Stanley Street, Gainsborough, Lincolnshire, DN21 1DT - 6 months ago

Sold STC
Refurb/BRRR
ROI: 6%
~74 m²
+4 photos

ValuationFair Value

Sold Prices£30.5K - £195K
Sold Prices/m²£384/m² - £2.6K/m²

 

 

Square Metres

~73.60 m²
Price/m²£679/m²

Value Estimate

£51,000

 

 

End Value (After Refurb)

£67,009

Uplift in Value

+34%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£12,500

Stamp Duty & Legal Fees

£3,700

Refurb Costs

£29,824

Bridging Loan Interest

£1,313

Total Cash In

£49,087

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£67,009

Mortgage (After Refinance)

£50,257

Mortgage LTV

75%

Cash Released

£12,757

Cash Left In

£36,330

Equity

£16,752

Rent Range

£450 - £725

Rent Estimate

£572

Running Costs/mo

£344

Cashflow/mo

£228

Cashflow/yr

£2,738

ROI

6%

Gross Yield

14%

Local Sold Prices

50 sold prices from £30.5K to £195K, average is £67.4K. £384/m² to £2.6K/m², average is £824/m².

PriceDateDistanceAddressBeds 
£40K03/210.01 mi85, Stanley Street, Gainsborough, Lincolnshire DN21 1DT2
£37.5K01/230.02 mi64, Stanley Street, Gainsborough, Lincolnshire DN21 1DS2
£65K02/230.04 mi25, Gordon Street, Gainsborough, Lincolnshire DN21 1DW2
£85K04/230.04 mi174, Sandsfield Lane, Gainsborough, Lincolnshire DN21 1DD2
£72K02/230.06 mi6, Ruskin Street, Gainsborough, Lincolnshire DN21 1DN2
£59K10/200.1 mi9, Bacon Street, Gainsborough, Lincolnshire DN21 1DQ2
£64K03/210.1 mi53, Drake Street, Gainsborough, Lincolnshire DN21 1DF2
£69K12/220.1 mi34, Burton Street, Gainsborough, Lincolnshire DN21 1DX2
£63.5K04/210.12 mi1, Shakespeare Street, Gainsborough, Lincolnshire DN21 1DE2
£61K12/200.12 mi57, Ashcroft Road, Gainsborough, Lincolnshire DN21 1LB2
£60K02/210.14 mi26, Ashcroft Road, Gainsborough, Lincolnshire DN21 1LD2
£72.5K08/210.14 mi31, St Johns Terrace, Gainsborough, Lincolnshire DN21 1BY2
£61K05/210.14 mi35, St Johns Terrace, Gainsborough, Lincolnshire DN21 1BY2
£58.4K04/210.16 mi66, Waterworks Street, Gainsborough, Lincolnshire DN21 1LA2
£61K06/210.16 mi1, Waterworks Street, Gainsborough, Lincolnshire DN21 1LA2
£50K05/210.16 mi14, Waterworks Street, Gainsborough, Lincolnshire DN21 1LA2
£32K10/200.16 mi6, Waterworks Street, Gainsborough, Lincolnshire DN21 1LA2
£60K03/230.18 mi1, Trent Street, Gainsborough, Lincolnshire DN21 1JZ2
£69K10/210.2 mi43, Lea Road, Gainsborough, Lincolnshire DN21 1LL2
£30.5K03/210.22 mi26, Dickenson Terrace, Gainsborough, Lincolnshire DN21 1BZ2
£48K03/210.22 mi15, Dickenson Terrace, Gainsborough, Lincolnshire DN21 1BZ2
£38K11/200.22 mi7, Wheeldon Street, Gainsborough, Lincolnshire DN21 1BS2
£53K03/230.28 mi61, Sandsfield Lane, Gainsborough, Lincolnshire DN21 1BQ2
£45K04/210.32 mi34, Linden Terrace, Gainsborough, Lincolnshire DN21 1JQ2
£45K04/230.32 mi9, Linden Terrace, Gainsborough, Lincolnshire DN21 1JQ2
£83K03/230.36 mi44, Pillard House Lane, Gainsborough, Lincolnshire DN21 1HX2
£59K08/210.37 mi19, Florence Terrace, Gainsborough, Lincolnshire DN21 1BE2
£53.5K01/210.4 mi6, Lewis Street, Gainsborough, Lincolnshire DN21 2AB2
£195K12/220.42 mi13, Claremont Road, Gainsborough, Lincolnshire DN21 1QW2
£112K06/230.44 mi3, Meldrum Drive, Gainsborough, Lincolnshire DN21 1GS2
£74K02/210.51 mi47, Foxby Lane, Gainsborough, Lincolnshire DN21 1PP2
£113K10/200.57 mi15, Pingle Close, Gainsborough, Lincolnshire DN21 1XR2
£125K07/230.57 mi12, Pingle Close, Gainsborough, Lincolnshire DN21 1XR2
£100K04/210.57 mi28, Pingle Close, Gainsborough, Lincolnshire DN21 1XR2
£165K12/210.62 miPeartree Paddock, Lea Road, Gainsborough, Lincolnshire DN21 1AW2
£111.5K06/230.63 mi88, Brewster Road, Gainsborough, Lincolnshire DN21 1ZA2
£101K04/230.63 mi48, Brewster Road, Gainsborough, Lincolnshire DN21 1ZA2
£120K05/230.67 mi19, Hickman Court, Gainsborough, Lincolnshire DN21 1NZ2
£78.5K02/230.67 mi19, Spring Gardens, Gainsborough, Lincolnshire DN21 2AY2
£127.5K02/230.77 mi1, Heapham Crescent, Gainsborough, Lincolnshire DN21 1TB2
£58.5K08/210.78 mi21, Tennyson Street, Gainsborough, Lincolnshire DN21 2JG2
£100K06/230.79 mi9a, Morley Street, Gainsborough, Lincolnshire DN21 2NF2
£66.8K02/210.8 mi22, Rectory Avenue, Gainsborough, Lincolnshire DN21 2JE2
£72K12/200.8 mi24, Rectory Avenue, Gainsborough, Lincolnshire DN21 2JE2
£72.5K05/230.8 mi8, Rectory Avenue, Gainsborough, Lincolnshire DN21 2JE2
£64K05/230.8 mi4, Jubilee Crescent, Gainsborough, Lincolnshire DN21 2HJ2
£68K11/200.82 mi40, Tower Street, Gainsborough, Lincolnshire DN21 2JQ2
£76K05/230.88 mi17, Balfour Street, Gainsborough, Lincolnshire DN21 2LF2
£90K03/210.93 mi79, Woodfield Road, Gainsborough, Lincolnshire DN21 1RE2
£134.5K05/230.93 mi33, Highfield Close, Gainsborough, Lincolnshire DN21 1RD2

Local Rents

14 rents from £450/mo to £725/mo, average is £563/mo.

RentDateDistanceAddressBeds 
£59502/250.09 mi-2
£50012/240.16 miLea Place2
£49510/240.16 mi-2
£49512/240.28 mi-2
£59511/240.3 mi-2
£54012/240.32 mi-2
£45012/240.32 miLinden Terrace, Gainsborough2
£65012/240.34 miFoxby Mews, Gainsborough, Lincolnshire, DN212
£72511/230.37 mi-2
£57512/240.38 miFurleys Wharf, Gainsborough2
£70011/240.4 mi-2
£54012/240.4 miLewis Street, Gainsborough2
£55012/240.54 miBridge Street, Gainsborough, DN212
£60012/240.55 miGranary Wharf, Gainsborough2

Local Area Statistics

Population in DN21

36,969

Population in Gainsborough

37,066

Town centre distance

0.78 miles away

Nearest school

0.10 miles away

Nearest train station

0.38 miles away

 

 

Rental demand

Landlord's market

Sales demand

Balanced market

Capital growth (5yrs)

+20%

Property History

Listed for £50,000

October 1, 2024

Floor Plans

Description

  • NO CHAIN +
  • IDEAL INVESTMENT OPPORTUNITY +
  • GREAT LOCATION +
  • SPACIOUS ROOM SIZES +
  • LOW MAINTENANCE REAR GARDEN +
  • SCHEME OF MODERNISATION REQUIRED +

NO CHAIN****IDEAL INVESTMENT OPPORTUNITY

Located close to the town centre this terraced property requires a scheme of modernisation throughout and is being sold with no forwarding chain. The property briefly comprises a lounge and breakfasting kitchen to the ground floor. The first floor offers a generous double bedroom and additional versatile room serviced by a family bathroom suite. The second floor has use of a further double bedroom. Externally the home resides behind a small walled boundary leading onto a low maintenance frontage. The rear garden is mainly paved for easy maintenance.

Agent Details

Paul Fox, Gainsborough

01420 554757

Next Steps?

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