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62 Duke Street, Grimsby DN32 7RT
Marketed by:
Auction House Lincolnshire
124 Trinity St, Gainsborough DN21 1JD, UK
01427 616436
3 Bed Terraced House in Central Grimsby
62 Duke Street, Grimsby DN32 7RT
Unsold
£25,000+
Key Features
3 Bed Terraced House in Central Grimsby
Guide price £25,000+
Located at 62 Duke Street, Grimsby DN32 7RT
Suggested strategy: BRRR
Description
Mid-terrace house with uPVC double glazing, central heating and versatile accommodation close to Grimsby town centre.
Location
The property is in 62 Duke Street. The investment case should be checked against local transport, amenities, employment and tenant-demand drivers before bidding.
Investment Analysis
Investment Snapshot
Guide Price | £25,000+ |
Tenure | Refer to auction particulars / legal pack |
Condition | HB: refurbishment / due-diligence allowance assumed |
HB Estimated Market Rent | £950–£1,250 pcm |
HB Estimated Annual Rent | £11,400–£15,000 pa |
Refurbishment / Works Budget | HB indicative £30,000–£51,000 |
Purchase + Works | £55,000–£76,000 |
HB Indicative GDV / Value | £145,000–£205,000 |
Gross Yield on Guide | 45.6%–60.0% |
Gross Yield on Project Cost | 15.0%–27.3% |
Suggested Strategy | BRRR |
Strategy Recommendation
BRRR. The low auction guide provides potential headroom, but the maximum bid should be tested against condition, legal-pack liabilities, achievable rent and local comparable evidence.
Works Required
Obtain a full survey and contractor quotations. Budget for property-specific repairs, compliance works, services testing, decoration and any kitchen/bathroom or common-parts upgrades identified on inspection.
Rental & Market Context
HB indicative rent: £950–£1,250 pcm (£11,400–£15,000 pa). This is an HB estimate, not an auctioneer-quoted rent, unless an existing tenancy is specifically stated above.
Sold within approximately 5 miles
Reliable sold-comparable evidence should be checked against Land Registry data before setting a maximum bid; no unverified comparable addresses or prices have been inserted.
Potential BRRR Position
Illustrative 75% refinance on the HB indicative value range is approximately £108,750–£153,750. Actual refinance depends on lender valuation, rent stress testing, property type, condition and borrower circumstances.
Flip Analysis
Indicative gross spread before transaction and finance costs is approximately £69,000–£150,000. This is not profit and excludes SDLT, auction/legal fees, finance, holding costs, professional fees, selling costs, tax and contingency.
Investor Risks & Due Diligence
Review the legal pack, title, special conditions, buyer fees, completion period, survey, services, EPC, planning/building regulations, finance and local rental/sold evidence. For leasehold property also verify lease length, ground rent, service charge and major works.
Recommendation
Initial recommendation: BRRR. Proceed only after verifying the legal pack, physical condition, total acquisition costs and local market evidence.
Strategy Rating
Buy-to-Let: ★★★★☆ | BRRR: ★★★★☆ | Flip: ★★★☆☆
Auction Details :
Auction House Lincolnshire
Auction Date :
07/09/26
Lot Number :
Property Location:
62 Duke Street, Grimsby DN32 7RT
View our Property Calculators:
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