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See how verdicts work1-bedroom house · DN32 9NW
Sold STCListed 36 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
(WE ARE OFFERING PART ONLY OF THE PROPERTY SHOWN IN THE PHOTOGRAPH) This well-presented flat represents an excellent investment opportunity, currently let by a Local Authority and therefore offering immediate rental income with an established tenancy already in place.
For investors seeking a straightforward, ready-made addition to their portfolio, this property provides both convenience and strong ongoing potential.
Ideally situated in a central location, the property benefits from close proximity to a wide range of local amenities, including shops, supermarkets, schools, and public transport links.
Everyday essentials are within easy reach, making it an attractive and practical residence for tenants.
The accommodation is accessed via a ground floor entrance porch with uPVC double glazed door, leading into a welcoming entrance hall.
The living room is bright and well-proportioned, featuring uPVC double glazed windows that allow for plenty of natural light, along with a radiator to ensure comfort throughout the year.
The room offers ample space for both seating and dining arrangements. The kitchen is fitted with a range of wall and base units, providing good storage and preparation space.
It incorporates a sink unit with mixer taps, tiled splashback, and laminate flooring for a clean and practical finish. uPVC double glazed windows enhance the light and ventilation within the space.
The bedroom is generously sized and offers comfortable accommodation, complete with uPVC double glazed windows and a radiator.
Its proportions allow for a range of bedroom furniture while maintaining a spacious feel. The bathroom is well appointed and fitted with a corner shower, wash basin, and WC.
A heated towel rail adds a modern touch, while laminate flooring and a uPVC double glazed window contribute to the room’s bright and low-maintenance finish.
Benefitting from uPVC double glazing throughout, this centrally located flat combines practicality, comfort, and investment appeal.
With the property currently let by a Local Authority, it offers a ready-made, income-generating opportunity in a convenient and accessible setting.
Early viewing is recommended to fully appreciate the potential on offer. Entrance Porch With a uPVC double glazed door and stairs to first floor accommodation.
Bedroom Dimensions: 3.67m x 4.88m. With a uPVC double glazed window and radiator. Living Room Dimensions: 3.91m x 3.59m. With a uPVC double glazed window and radiator.
Kitchen Dimensions: 2.25m x 3.25m. With a uPVC double glazed window and radiator. A range of wall and base units with sink unit and mixer taps, tiled splash back, laminate flooring.
Bathroom Dimensions: 2.15m x 2.37m. With a uPVC double glazed window, heated towel rail, corner shower, wash basin, WC and laminate floor.
Tenancy The property is currently let to North East Lincolnshire Council on a 5-year tenancy agreement, achieving £475 per calendar month.
Tenure We understand that the property is held Leasehold with an end date of 2089 with 63 years remaining. £50 ground rent pa and no service charge.
Disclaimer Disclaimer Every attempt has been made to ensure accuracy, however these property particulars are approximate and for illustrative purposes only.
They have been prepared in good faith and they are not intended to constitute part of an offer of contract.
We have not carried out a structural survey and the services, appliances and specific fittings have not been tested.
All photographs, measurements, floor plans and distances referred to are given as a guide only and should not be relied upon for the purchase of any fixture or fittings.
Lease details, service charges and ground rent (where applicable) are given as a guide only and should be checked prior to agreeing a sale.
Value & comps
No previous sales on record.
Returns
Set an offer; the calculator follows it.
We're still gathering serviced-accommodation data for this area.
Archie refurb estimate: a Pro feature
0.0% below asking
This is not financial or investment advice. Prop AI Deals is not authorised by the Financial Conduct Authority (FCA) to provide investment advice.
All investment calculators, property analyses, and AI-generated insights are for informational purposes only. Property investment carries risk and may result in financial loss. All calculations should be independently verified and you should consult with FCA-authorised financial advisers before making any investment decisions.
Past performance does not guarantee future results. Tax implications vary by individual circumstances.
Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
Area
Agent & docs

FAQ
About Heneage Road, Grimsby, DN32
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