3 Arkwright Street, Gainsborough

Description

A wonderful opportunity to acquire this traditionally constructed mid terrace house, offered for sale with the benefit of well proportioned and versatile living accommodation throughout, along with double glazing and central heating. The property offers scope to add value by way of some remedial works, or generate a strong yield in this area of strong rental demand.

Accommodation

Ground Floor: Lounge; Dining Room; Kitchen; Rear Lobby; Family Bathroom. First Floor: Bedroom 1; Bedroom 2; Bedroom 3. Outside: Rear courtyard.

Location

The property is situate on Arkwright Street, Gainsborough, a central and convenient location in the heart of this traditional Lincolnshire market town, close to a wide range of facilities and amenities, including the town centre and the Marshalls Yard Retail & Leisure complex. Gainsborough itself is well positioned for access to the surrounding area, including the towns of Scunthorpe and Retford, and Cities of Lincoln and Doncaster.

Tenure / Property Information

Investment Analysis

Completed same-street terraced sales range from £60,000 to £84,000. The five-sale midpoint is £75,000, used as base GDV. Condition is described only as requiring some remedial works, so no works allowance is quantified.

Investment Snapshot

Strategy Recommendation

Only consider at a price allowing for unknown remedial works, auction fees and legal-pack disbursements. BTL appears attractive on headline rent, but a firm bid requires inspection and costed works.

Works Required

Assess and complete the unspecified remedial works, while retaining or checking the existing double glazing, central heating and EPC C position. No specific defects are evidenced.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A potential BRRR exists because the base GDV is estimated at £75,000 and 75% refinancing is £56,250. Total project cost cannot be established because the remedial works allowance and possible disbursements are unknown.

Buy-to-Let Analysis

Advertised rents are £675–£730 pcm, with an auctioneer estimate of £750 pcm for a property in good order. At the £45,000 upper guide, £9,000 annual rent implies a 20% gross yield before works, finance, voids and operating costs. Passing rent is not evidenced.

Flip Analysis

A resale value around £75,000 is supported by same-street completed sales, with an evidenced range of £60,000–£84,000. Flip surplus cannot be calculated without a supported works allowance and selling-cost allowance.

Investor Risks & Due Diligence

• Unspecified remedial works may materially affect returns.

• Rental figures are advertised or estimated, not achieved or passing rents.

• Buyer premium and admin charge total £3,600, with possible additional legal-pack disbursements.

• Guide price is a range and auction purchase costs are not fully quantified.

• Actual resale value may vary within the £60,000–£84,000 comparable range.

Recommendation

Only consider at a price allowing for unknown remedial works, auction fees and legal-pack disbursements. BTL appears attractive on headline rent, but a firm bid requires inspection and costed works.

Strategy Rating

Analysis Confidence

Strong same-street sold evidence and rental asking evidence are available, but condition, works costs, passing rent and completion disbursements are not quantified.