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Richard Street, Grimsby, Lincolnshire, DN31

Yorkshire

£52,950
Listed on 05/12/2025

Property Details

Bedrooms
2
Type
Terraced house

Description

This two-bedroom mid-terrace property presents an excellent opportunity for those looking to invest in a renovation project. While it features uPVC double glazing and a gas central heating system, the interior is in need of modernisation, making it a compelling choice for first-time buyers, developers, or investors seeking to add value through refurbishment. The layout of the home includes an entrance porch that leads into a lounge/sitting room with a gas fire and large uPVC window, providing ample natural light. Additionally, there’s an inner lobby connecting to a second sitting room which also comes with a gas fire and radiator. The kitchen features fitted units alongside laminate flooring and opens to a rear lobby that provides access to the garden. A separate ground-floor w.c. adds convenience. Upstairs, the property accommodates two bedrooms—both benefiting from good-sized windows and radiator heating, along with a partially tiled bathroom equipped with essential fixtures such as a corner bath and shower cubicle. Outside, the rear garden offers potential for landscaping or outdoor living enhancements. Located in Grimsby, this property is situated in an area known for its rental demand which further enhances its investment potential. With clear opportunities for upgrades and improvements throughout, this residence stands as a solid project for those inclined toward home enhancement or rental development in a practical location.

Investment Analysis

(DN31 area)
Area Average
£89/sq ft
Avg Rent (weekly)
£134
Avg Yield
9.0%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£15,000 - £25,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
12
Average per month
Market Turnover
15%
Properties sold annually

Local Market Trend (DN31)

Area prices are falling by +8.2% over the last 12 months
3 year growth: -10.1%
5 year growth: 12.5%
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 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£194
Based on a loan of £39,712 over 30 years at 4.19% 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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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE