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Richard Street, Grimsby, Lincolnshire, DN31 - Image 1
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Richard Street, Grimsby, Lincolnshire, DN31

Yorkshire

£52,950
Listed on 25/03/2026

Property Details

Bedrooms
2
Type
Terraced House
Area
807 sqft

Description

This two-bedroom mid-terrace property presents a noteworthy opportunity for renovation and investment in the Grimsby area. While it is equipped with uPVC double glazing and a gas central heating system, the home is in need of modernization, making it an attractive prospect for first-time buyers eager to create their own living space or for investors looking to enhance rental value. The layout consists of an entrance porch, a lounge/sitting room, a kitchen, a rear lobby, and a ground floor w.c., with two bedrooms located upstairs. Given the consistent demand for rentals in this locality, there is significant potential to improve this property and capitalize on its investment appeal.

Investment Analysis

(DN31 area)

Below Market Value

This property is priced -27.8% below area average per sq ft

-27.8%
Potential saving
This Property
£66/sq ft
Area Average
£91/sq ft
Avg Rent (weekly)
£139
Avg Yield
9.0%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£15,000 - £25,000
Target Value
£80,648
10% above area average per sq ft
Potential ROI
+3.5%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
15
Average per month
Market Turnover
46%
Properties sold annually

Local Market Trend (DN31)

Area prices are falling by -12.7% over the last 12 months
3 year growth: -14.5%
5 year growth: +11.7%
Investment Disclaimer: Analysis based on DN31 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

Richard Street, Grimsby, Lincolnshire, DN31
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.06%

Current average variable rate is 6.81%

Monthly Repayments
£191
Based on a loan of £39,712 over 30 years at 4.06% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

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