2 Bed Flat, Single Let, Morecambe, LA4 4JN, £117,500

117, Balmoral Road, Morecambe, LA4 - 3 views - 2 years ago

Leasehold
BTL
ROI: 6%
72 m²
+2 photos

ValuationUndervalued

Sold Prices£49K - £230K
Sold Prices/m²£1.1K/m² - £4.4K/m²

 

 

Square Metres

72 m²
Price/m²£1.6K/m²

Value Estimate

£144,525
BMV23%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£29,375

Stamp Duty & Legal Fees

£4,725

Total Cash In

£34,100

 

 

Cash Out

 

Rent Range

£520 - £1,350

Rent Estimate

£683

Running Costs/mo

£524

Cashflow/mo

£159

Cashflow/yr

£1,911

ROI

6%

Gross Yield

7%

Local Sold Prices

36 sold prices from £49K to £230K, average is £127.5K. £1.1K/m² to £4.4K/m², average is £2.2K/m².

PriceDateDistanceAddressBeds 
£172K03/230.3 miFlat 2, Rosehill Mansion, Rosehill Drive, Aughton, Ormskirk, Lancashire L39 5AA2
£93.5K09/210.57 miFlat 28, Hillside Court, Black Moss Lane, Ormskirk, Lancashire L39 4YX2
£112K11/220.57 miFlat 22, Hillside Court, Black Moss Lane, Ormskirk, Lancashire L39 4YX2
£100K04/230.57 miFlat 11, Hillside Court, Black Moss Lane, Ormskirk, Lancashire L39 4YX2
£145K03/230.57 miFlat 6, Hillside Court, Black Moss Lane, Ormskirk, Lancashire L39 4YX2
£105K04/210.57 miFlat 21, Hillside Court, Black Moss Lane, Ormskirk, Lancashire L39 4YX2
£96K09/220.57 miFlat 29, Hillside Court, Black Moss Lane, Ormskirk, Lancashire L39 4YX2
£49K04/210.58 miFlat 27, Hillside Court, Black Moss Lane, Ormskirk, Lancashire L39 4YX2
£127.5K09/220.58 miFlat 27, Hillside Court, Black Moss Lane, Ormskirk, Lancashire L39 4YX2
£122K01/211.05 miApartment 5, Bridge House, Bridge Avenue, Ormskirk, Lancashire L39 4PL2
£122K12/201.05 miApartment 15, Bridge House, Bridge Avenue, Ormskirk, Lancashire L39 4PL2
£122.5K09/211.05 miApartment 12, Bridge House, Bridge Avenue, Ormskirk, Lancashire L39 4PL2
£135K02/231.06 miApartment 19, Bridge House, Bridge Avenue, Ormskirk, Lancashire L39 4PL2
£63K07/211.09 mi6, Chapel Moss, Ormskirk, Lancashire L39 4XE2
£110K05/211.23 mi9, Halsall Court, Ormskirk, Lancashire L39 3PU2
£123K05/221.24 mi5, Halsall Court, Ormskirk, Lancashire L39 3PU2
£228K09/211.28 mi10, Grammar School Court, Ormskirk, Lancashire L39 4PY2
£180K03/211.28 mi19, Grammar School Court, Ormskirk, Lancashire L39 4PY2
£170K02/221.28 mi15a, Grammar School Court, Ormskirk, Lancashire L39 4PY2
£170K06/221.28 mi25, Grammar School Court, Ormskirk, Lancashire L39 4PY2
£180K12/201.28 mi8, Grammar School Court, Ormskirk, Lancashire L39 4PY2
£146K07/231.29 mi16, Grammar School Court, Ormskirk, Lancashire L39 4PY2
£230K03/241.32 miCramlington House, Apartment 15, Grammar School Gardens, Ormskirk, Lancashire L39 4PT2
£215K05/221.32 miApartment 11, Cramlington House, Grammar School Gardens, Ormskirk, Lancashire L39 4PT2
£62.5K10/201.36 mi6, Millers Court, Ormskirk, Lancashire L39 4XF2
£51K05/221.36 mi4, Millers Court, Ormskirk, Lancashire L39 4XF2
£115K06/211.37 mi32, Alexandra Mews, Ormskirk, Lancashire L39 1RH2
£122.5K06/231.37 mi19, Alexandra Mews, Ormskirk, Lancashire L39 1RH2
£123K06/221.37 mi38, Alexandra Mews, Ormskirk, Lancashire L39 1RH2
£129K10/231.42 miFlat 8, The Fountains, Green Lane, Ormskirk, Lancashire L39 1ND2
£142K08/231.42 miFlat 28, The Fountains, Green Lane, Ormskirk, Lancashire L39 1ND2
£150K03/231.42 miFlat 52, The Fountains, Green Lane, Ormskirk, Lancashire L39 1ND2
£150K11/201.42 miFlat 5, The Fountains, Green Lane, Ormskirk, Lancashire L39 1ND2
£149K02/231.42 miFlat 23, The Fountains, Green Lane, Ormskirk, Lancashire L39 1ND2
£127.5K02/221.44 mi1, Norfield, Ormskirk, Lancashire L39 2XR2
£140K06/231.44 mi14, Norfield, Ormskirk, Lancashire L39 2XR2

Local Rents

12 rents from £520/mo to £1.4K/mo, average is £875/mo.

RentDateDistanceAddressBeds 
£1,20002/250.61 mi-2
£52005/240.77 miHazel Court, Aughton Street, Ormskirk2
£90005/241.02 miBridge Street, Ormskirk2
£85004/241.02 miBridge Street, Ormskirk2
£73205/241.12 miThe Suites, 6-8 Aughton Street, Ormskirk2
£95004/241.14 miBrighouse Close, Ormskirk, Lancashire, L39 3NB2
£90005/241.14 miChapel Street, Ormskirk, L39 4QF2
£1,35004/241.16 miApartment Vicarage Walk, Ormskirk2
£71505/241.17 miAlexander House, Ormskirk, 2
£67205/241.17 mi2a AUGHTON STREET, ORMSKIRK, LANCASHIRE2
£97505/241.19 miSt. Helens Road, Ormskirk, L39 4QL2
£77504/241.24 miHalsall Court, Ormskirk, Lancashire, L392

Local Area Statistics

Population in LA4

26,244

Population in Morecambe

50,836

Town centre distance

35.42 miles away

Nearest school

31.90 miles away

Nearest train station

35.62 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+8%

Sales demand

Balanced market

Capital growth (5yrs)

+28%

Property History

Listed for £117,500

March 9, 2023

Floor Plans

Description

  • VIRTUAL VIEWING AVAILABLE. CLICK ON THE VIDEO TOUR ABOVE +
  • Two Bedroom Ground Floor Flat in Morecambe +
  • Lounge, Kitchen, Bathroom Plus Two Good Sized Bedrooms +
  • Close to Morecambe Centre And Local Amenities +
  • Gas Central Heating, Double Glazed +

Fantastic opportunity to purchase this two bedroom ground floor flat, the property is situated in a popular residential location in Morecambe.

On internal inspection the property briefly comprises; porch, lounge, kitchen, bathroom and two bedrooms. Externally the property has communal gardens and on street parking.

Viewings are highly recommended to appreciate this superb property on offer.
Leasehold information: Term: 999 years from 30th May 1975
Current Ground Rent: Peppercorn
Current Service/Maintenance Charges: TBC

Council Tax Information: Band A

Agent Note
In order to be able to purchase a property in the UK all agents have a legal requirement to conduct identity checks on all customers involved in the transaction to fulfil their obligations under anti money laundering regulations. Farrell Heyworth outsource this check to a third party and a charge will apply. Please ask the branch for further details.

Agent Details

Farrell Heyworth, Morecambe

01524 967273

Next Steps?

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