3 Bed Terraced House, Refurb/BRRR, Carlisle, CA2 4LB, £90,000

Ridley Road, Carlisle, Cumbria, CA2 4LB - 26 views - 2 years ago

Refurb/BRRR
ROI: 3%
~101 m²
+7 photos

ValuationFair Value

Sold Prices£60K - £181K
Sold Prices/m²£634/m² - £2.8K/m²

 

 

Square Metres

~100.80 m²
Price/m²£893/m²

Value Estimate

£91,800

 

 

End Value (After Refurb)

£124,174

Uplift in Value

+38%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£22,500

Stamp Duty & Legal Fees

£3,900

Refurb Costs

£39,453

Bridging Loan Interest

£2,363

Total Cash In

£69,965

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£124,174

Mortgage (After Refinance)

£93,130

Mortgage LTV

75%

Cash Released

£25,630

Cash Left In

£44,335

Equity

£31,043

Rent Range

£625 - £995

Rent Estimate

£757

Running Costs/mo

£559

Cashflow/mo

£198

Cashflow/yr

£2,371

ROI

3%

Gross Yield

10%

Local Sold Prices

50 sold prices from £60K to £181K, average is £120.5K. £634/m² to £2.8K/m², average is £1.3K/m².

PriceDateDistanceAddressBeds 
£110K06/210.06 mi4, Millbank Court, Carlisle, Cumbria CA2 4HY3
£74K03/210.06 mi35, Ridley Road, Carlisle, Cumbria CA2 4LB3
£105K01/230.06 mi42, Ridley Road, Carlisle, Cumbria CA2 4LB3
£150K06/230.09 mi110, Boundary Road, Carlisle, Cumberland CA2 4HT3
£130K05/230.09 mi9, Newlands Road, Carlisle, Cumberland CA2 4JB3
£141K09/210.12 mi10, Maitland Street, Carlisle, Cumbria CA2 4ED3
£150K05/210.13 mi10, Kirklands Road, Carlisle, Cumbria CA2 4JD3
£65K12/200.15 mi67, Montreal Street, Carlisle, Cumbria CA2 4EE3
£73K04/210.15 mi34, Montreal Street, Carlisle, Cumbria CA2 4EE3
£70K05/210.17 mi8, Mount Pleasant Road, Carlisle, Cumbria CA2 4QB3
£140K12/200.17 mi59, Millholme Avenue, Carlisle, Cumbria CA2 4DW3
£129K01/210.18 mi1, Boston Avenue, Carlisle, Cumbria CA2 4DR3
£130K12/200.19 mi195, Blackwell Road, Carlisle, Cumbria CA2 4DS3
£125K12/200.2 mi51, Scalegate Road, Carlisle, Cumbria CA2 4JX3
£116K02/230.21 mi130, Blackwell Road, Carlisle, Cumbria CA2 4DT3
£127.5K08/230.22 mi130, Blackwell Road, Carlisle, Cumberland CA2 4DT3
£110K03/210.22 mi102, Blackwell Road, Carlisle, Cumbria CA2 4DZ3
£66K12/200.22 mi3, Sewell Road, Carlisle, Cumbria CA2 4QP3
£120K08/210.25 mi125, Currock Road, Carlisle, Cumbria CA2 4BH3
£95K11/210.26 mi34, Blackwell Road, Carlisle, Cumbria CA2 4EQ3
£120K02/210.26 mi1b, Alton Street, Carlisle, Cumbria CA2 4DX3
£154K06/230.27 mi50, Coney Street, Carlisle, Cumberland CA2 4BW3
£64K03/210.27 mi98, Harrison Street, Carlisle, Cumbria CA2 4ER3
£125K10/210.28 mi289a, Blackwell Road, Carlisle, Cumbria CA2 4RD3
£115K03/230.29 mi1, Clementina Terrace, Carlisle, Cumberland CA2 4EN3
£125K06/210.29 mi10, Currock Park Avenue, Carlisle, Cumbria CA2 4DH3
£151K04/210.29 mi146, Currock Park Avenue, Carlisle, Cumbria CA2 4DH3
£127K04/230.29 mi5, Currock Park Avenue, Carlisle, Cumberland CA2 4DH3
£170K01/230.29 mi123, Currock Park Avenue, Carlisle, Cumbria CA2 4DH3
£73.8K07/230.3 mi12, Henderson Road, Carlisle, Cumberland CA2 4PU3
£100K10/210.3 mi17, Goodwin Close, Carlisle, Cumbria CA2 4AH3
£121K02/230.31 mi23, Almery Drive, Carlisle, Cumbria CA2 4EX3
£85K02/210.31 mi14, Esther Street, Carlisle, Cumbria CA2 4HA3
£145K04/230.32 mi11, Arthur Street, Carlisle, Cumberland CA2 4AN3
£82K01/210.32 mi34, Coney Street, Carlisle, Cumbria CA2 4BX3
£87K01/210.33 mi122, Scalegate Road, Carlisle, Cumbria CA2 4PR3
£63K06/210.34 mi51, Gloucester Road, Carlisle, Cumbria CA2 4EW3
£125K08/210.35 mi1, Manor Road, Carlisle, Cumbria CA2 4LH3
£85.5K10/210.35 mi21, Blackwell Road, Carlisle, Cumbria CA2 4AB3
£85.5K10/210.35 mi21, Blackwell Road, Carlisle, Cumbria CA2 4AB3
£150K04/230.36 mi83, Currock Park Avenue, Carlisle, Cumberland CA2 4DJ3
£140K11/200.36 mi35, Currock Park Avenue, Carlisle, Cumbria CA2 4DJ3
£152K02/230.37 mi31, Currock Road, Carlisle, Cumbria CA2 4AS3
£60K10/210.37 mi109, Henderson Road, Carlisle, Cumbria CA2 4PY3
£150K05/230.37 mi21, Uldale Road, Carlisle, Cumberland CA2 4PP3
£144K03/210.37 mi26, Uldale Road, Carlisle, Cumbria CA2 4PP3
£101.5K12/200.38 mi1, Webster Crescent, Carlisle, Cumbria CA2 4DA3
£181K06/210.38 mi35, Lediard Avenue, Carlisle, Cumbria CA2 4BS3
£130K01/230.38 mi5, Blackwell Road, Carlisle, Cumbria CA2 4AB3
£114K12/200.39 mi59, Beaumont Road, Carlisle, Cumbria CA2 4RQ3

Local Rents

18 rents from £625/mo to £995/mo, average is £750/mo.

RentDateDistanceAddressBeds 
£87503/240.09 miNewlands Road, Carlisle, CA23
£87503/240.09 miNewlands Road, Carlisle, CA23
£85004/240.09 miNewlands Road, Carlisle, CA23
£65008/230.1 mi-3
£67503/240.1 miMillholme Avenue, Carlisle, CA23
£67503/240.1 miMillholme Avenue, Carlisle, CA23
£67503/240.1 miMillholme Avenue, Carlisle, CA23
£75005/240.14 miBuchanan Road, Carlisle3
£75005/240.14 miBuchanan Road, Carlisle3
£62504/240.17 miMontreal Street, Currock, Carlisle3
£75003/240.28 miClementina Terrace3
£75003/240.29 miBlackwell Road, Carlisle3
£79503/240.3 miBeaconsfield Street, Carlisle, CA23
£62504/240.32 miScalegate Road , Upperby , Carlisle3
£99503/240.39 miBeaumont Road, Carlisle3
£62503/240.42 miLund Crescent, Carlisle3
£90005/240.58 miLondon Road, Carlisle, CA13
£90005/240.58 miLondon Road, Carlisle, CA13

Local Area Statistics

Population in CA2

39,646

Population in Carlisle

103,015

Town centre distance

1.67 miles away

Nearest school

0.20 miles away

Nearest train station

0.92 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

-2%

Sales demand

Seller's market

Capital growth (5yrs)

+16%

Property History

Listed for £90,000

August 18, 2023

Floor Plans

Description

  • 3 Bedroom Terraced House +
  • Fantastic Potential +
  • Possible Loft Conversion +
  • Garden +
  • No Chain +

A great opportunity to purchase this 3 bedroom terraced house with fantastic potential in the popular residential estate South of the city.

In need of modernisation this property with some vision could be the perfect family home. Knock through into the kitchen to create a good sized kitchen dining area, convert the outbuildings into a downstairs W/C and utility and with a generous loft, going up to create another bedroom is also a possibility.

The accommodation briefly comprises: Vestibule, Hallway, Living Room with gas fire, Dining Room with large cupboard and Kitchen. Stairs to Landing leads to 2 Double Bedrooms, a Large Single and good size Bathroom. A cupboard on the landing via a ladder gives access to a Large Loft.

Externally to the front is on-street parking, to the rear is a garden area and out buildings with access to the road from the rear of the property.

Agent Details

BPK Estate Agents, Carlisle

01228 582064

Next Steps?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪