18 Portland Terrace, Gainsborough, DN21 1JR

Description

A wonderful opportunity to acquire this traditionally constructed terrace house offered for sale benefitting from well proportioned rooms and versatile accommodation. The property would appeal to both owner occupiers and investors with a strong rental market in the local area.

Accommodation

Ground Floor: Lounge; Kitchen. First Floor: Bedroom 1; Bathroom. Second Floor: Bedroom 2. Outside: Yard to the rear.

Location

The property is situate on Portland Terrace, Gainsborough, a well positioned area of this traditional Lincolnshire market town. The town itself offers a wealth of facilities and amenities including the ever popular Marshalls Yard retail and leisure complex, along with good road and rail access to the surrounding towns and cities of Lincoln and Doncaster.

Tenure / Property Information

Investment Analysis

Same-street completed sales range from £35,000 to £60,000, including £50,000 for 17 Portland Terrace. A base GDV of £50,000 is supported, but the wide range and unknown condition create uncertainty.

Investment Snapshot

Strategy Recommendation

Potentially suitable for BTL or owner occupation if acquired near the lower guide and inspection confirms acceptable condition. Do not set a firm bid until the survey and legal pack establish works and additional costs.

Works Required

No specific defects or works are evidenced. Inspect the property and legal pack to establish whether any refurbishment, compliance or repair works are required.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £50,000 base GDV, 75% refinancing indicates £37,500. Against the £40,000 upper guide plus £2,400 known buyer and admin charges, this leaves no refinance surplus before any works; refurbishment costs and other disbursements are unknown.

Buy-to-Let Analysis

Advertised two-bedroom rents are £595–£700 pcm. Using the £40,000 upper guide, gross yield is approximately 17.9%–21.0%, or 19.5% using the midpoint rent. These are asking rents, not achieved rents, and net yield cannot be established without full costs and condition information.

Flip Analysis

The evidence supports a £35,000–£60,000 GDV range, with £50,000 as a base case. A reliable flip surplus cannot be calculated because works, selling costs and legal-pack disbursements are unsupported.

Investor Risks & Due Diligence

• Property condition and refurbishment requirements are not stated.

• Same-street completed prices vary materially from £35,000 to £60,000.

• Rental figures are advertised asking rents rather than achieved rents.

• Legal-pack disbursements and other purchaser charges may apply in addition to the stated £2,400 buyer and admin charges.

• Occupancy, parking and heating information is not provided.

Recommendation

Potentially suitable for BTL or owner occupation if acquired near the lower guide and inspection confirms acceptable condition. Do not set a firm bid until the survey and legal pack establish works and additional costs.

Strategy Rating

Analysis Confidence

Good same-street sold evidence and rental asking evidence are available, but property condition, occupancy, works, selling costs and legal-pack disbursements are not provided.