270, Cromwell Road, GRIMSBY, South Humberside, DN31 2BN

Description

Freehold end of terrace house

Accommodation

First floor: Three bedrooms, bathroom/wc Ground floor: Two reception rooms, kitchen Outside: Garden

Location

The property is located on Cromwell Road. Shopping amenities are available locally within Grimsby with a further range of shops, bars and restaurants found in Lincoln Town Centre lying to the south. Public transport links are available at Grimsby Town Train Station located to the east and at Grimsby Docks Train Station lying to the north east along with a network of local bus services serving the surrounding areas. The property is served by road links including the A180 located to the north and the A16 lying to the east. Recreational pursuits can be found locally.

Tenure / Property Information

Investment Analysis

Same-road Land Registry comparables range from £63,000 to £124,000, with the two latest lower sales at £89,500 and £124,000. The £124,000 sale may indicate stronger condition or specification, but no condition evidence is supplied for this property. A base GDV of £89,500 is used, with £85,000 as a cautious low scenario and £124,000 as an upper evidence-supported scenario. These are estimates, not formal valuations.

Investment Snapshot

Strategy Recommendation

Potentially attractive as a BTL at the guide price based on the advertised rent, subject to inspection, achieved-rent validation and confirmation of all auction and seller fees. Do not bid on a flip or BRRR basis without condition and cost evidence.

Works Required

No specific defects or refurbishment requirements are evidenced. Obtain a full inspection and confirm heating, parking and condition before budgeting works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A 75% refinance of the £89,500 base GDV would be approximately £67,125. However, total project cost, refurbishment allowance and finance costs cannot be established, so cash left in and the viability of a BRRR strategy are unsupported.

Buy-to-Let Analysis

At the £55,000 guide, the single advertised £650 pcm rent implies £7,800 annual gross rent and a 14.18% gross yield before finance, tax, maintenance, voids, insurance and transaction costs. The rent is an asking rent rather than achieved rent, and property condition is unknown. Yield on total cost cannot be established because refurbishment and any seller-charged completion fees are unknown.

Flip Analysis

The guide price is below the supplied same-road comparables, but no refurbishment scope, purchase-cost total or selling allowance is available. A reliable flip surplus and maximum bid cannot therefore be calculated. The £85,000 to £124,000 comparable range indicates material valuation uncertainty.

Investor Risks & Due Diligence

• Property condition and any required refurbishment are unknown.

• The £650 pcm figure is an advertised asking rent, not an achieved passing rent.

• Comparable sale prices vary materially from £63,000 to £124,000.

• The seller may charge additional completion fees under the special conditions.

• Parking and heating information require confirmation from the auction centre.

• Known buyer contract documentation fee of £1,800 inclusive of VAT must be paid.

Recommendation

Potentially attractive as a BTL at the guide price based on the advertised rent, subject to inspection, achieved-rent validation and confirmation of all auction and seller fees. Do not bid on a flip or BRRR basis without condition and cost evidence.

Strategy Rating

Analysis Confidence

There are several same-road completed sales and one comparable advertised rent, but condition, refurbishment costs, achieved rent, finance costs and potential seller fees are not supplied.