2 Bed Terraced House, Refurb/BRRR, Workington, CA14 2YD, £60,000

Lonsdale Street, Workington, CA14 2YD - a year ago

Sold STC
Leasehold
Refurb/BRRR
ROI: 5%
~82 m²
+5 photos

ValuationFair Value

Sold Prices£35K - £125K
Sold Prices/m²£449/m² - £1.9K/m²

 

 

Square Metres

~82.04 m²
Price/m²£731/m²

Value Estimate

£60,600

 

 

End Value (After Refurb)

£77,394

Uplift in Value

+29%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£15,000

Stamp Duty & Legal Fees

£4,200

Refurb Costs

£32,281

Bridging Loan Interest

£1,575

Total Cash In

£54,806

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£77,394

Mortgage (After Refinance)

£58,045

Mortgage LTV

75%

Cash Released

£13,045

Cash Left In

£41,760

Equity

£19,348

Rent Range

£470 - £750

Rent Estimate

£601

Running Costs/mo

£382

Cashflow/mo

£219

Cashflow/yr

£2,627

ROI

5%

Gross Yield

12%

Local Sold Prices

50 sold prices from £35K to £125K, average is £78.3K. £449/m² to £1.9K/m², average is £1K/m².

PriceDateDistanceAddressBeds 
£60K03/230.01 mi47, Lonsdale Street, Workington, Cumberland CA14 2YD2
£59K10/200.01 mi41, Lonsdale Street, Workington, Cumbria CA14 2YD2
£82K07/230.03 mi14, Clay Street, Workington, Cumberland CA14 2XZ2
£54.5K05/210.05 mi18, Milburn Street, Workington, Cumbria CA14 2XT2
£35K03/210.05 mi33, Milburn Street, Workington, Cumbria CA14 2XT2
£68K11/210.07 mi1, Harcourt Street, Workington, Cumbria CA14 2XL2
£78.5K04/230.08 mi26, Gladstone Street, Workington, Cumberland CA14 2XH2
£81K12/220.08 mi10, Harcourt Street, Workington, Cumbria CA14 2XL2
£67K05/230.08 mi6, Fletcher Street, Workington, Cumberland CA14 2XW2
£100K06/230.09 mi62, Corporation Road, Workington, Cumberland CA14 2PQ2
£80K10/210.13 mi36, Findlay Place, Workington, Cumbria CA14 2XG2
£61K10/200.15 mi27, Yeowartville, Workington, Cumbria CA14 2BY2
£70K06/210.17 mi9, Duke Street, Workington, Cumbria CA14 2HW2
£56.5K01/210.17 mi22, Yeowartville, Workington, Cumbria CA14 2BX2
£58K07/230.17 mi6, Yeowartville, Workington, Cumberland CA14 2BX2
£47K12/200.18 mi1, Yeowartville, Workington, Cumbria CA14 2BU2
£45K04/230.2 mi52, Napier Street, Workington, Cumberland CA14 2PU2
£50K08/230.2 mi6, Bolton Street, Workington, Cumberland CA14 2SL2
£61K10/210.21 mi15, James Street, Workington, Cumbria CA14 2DF2
£85.5K07/230.21 mi15, James Street, Workington, Cumberland CA14 2DF2
£80K12/200.21 mi21, James Street, Workington, Cumbria CA14 2DF2
£80K02/230.22 mi9, Chapel Street, Workington, Cumbria CA14 2BS2
£82K12/220.27 mi95, Bolton Street, Workington, Cumbria CA14 2SW2
£68K02/230.27 mi90, Bolton Street, Workington, Cumbria CA14 2SW2
£58K03/210.28 mi18, Vulcans Lane, Workington, Cumbria CA14 2NW2
£65K03/210.28 mi71, Vulcans Lane, Workington, Cumbria CA14 2NW2
£78K11/200.29 mi6, Cumberland Street, Workington, Cumbria CA14 2SP2
£94.5K02/210.3 mi39, Vulcans Lane, Workington, Cumbria CA14 2NR2
£78K12/220.31 mi3, Warwick Place, Workington, Cumbria CA14 2BQ2
£91.5K06/210.31 mi8, Albert Street, Workington, Cumbria CA14 2QH2
£40K06/210.31 mi17, Cumberland Street, Workington, Cumbria CA14 2QP2
£80K01/230.31 mi29, Cumberland Street, Workington, Cumbria CA14 2QP2
£80K11/200.31 mi22, Cumberland Street, Workington, Cumbria CA14 2QP2
£93K04/210.31 mi72, Cumberland Street, Workington, Cumbria CA14 2QP2
£100K06/230.31 mi80, Cumberland Street, Workington, Cumberland CA14 2QP2
£77K12/200.32 mi69, Victoria Road, Workington, Cumbria CA14 2QU2
£86K02/210.32 mi110, Victoria Road, Workington, Cumbria CA14 2QU2
£75K12/220.32 mi34, Victoria Road, Workington, Cumbria CA14 2QT2
£96.5K08/210.32 mi20, Brayton Street, Workington, Cumbria CA14 2NP2
£78K06/210.32 mi43, Brayton Street, Workington, Cumbria CA14 2NP2
£100K03/230.32 mi17, Brayton Street, Workington, Cumberland CA14 2NP2
£60K07/210.32 mi14, Victoria Road, Workington, Cumbria CA14 2QT2
£90K09/210.32 mi21, Victoria Road, Workington, Cumbria CA14 2QT2
£80K07/230.32 mi29, Victoria Road, Workington, Cumberland CA14 2QT2
£91.5K10/210.33 mi19, Vulcans Lane, Workington, Cumbria CA14 2NU2
£120K04/210.33 mi94, Gray Street, Workington, Cumbria CA14 2NH2
£125K02/230.34 mi94, Gray Street, Workington, Cumbria CA14 2NH2
£94K06/230.35 mi3, Pearson Street, Workington, Cumberland CA14 2QR2
£83K03/230.35 mi25, Pearson Street, Workington, Cumberland CA14 2QR2
£75K03/210.38 mi1, Pilgrim Street, Workington, Cumbria CA14 2RA2

Local Rents

23 rents from £470/mo to £750/mo, average is £595/mo.

RentDateDistanceAddressBeds 
£55003/240.01 miLonsdale Street, Workington, CA142
£47002/240.04 mi-2
£75009/240.04 mi-2
£56504/240.08 miGladstone Street, Workington2
£52502/240.21 mi-2
£57503/240.27 miBolton Street, Workington2
£55003/240.27 miBolton Street, Workington, Cumbria, CA14 2SW2
£59503/240.29 miHunter Street, Workington2
£50010/240.29 mi-2
£57003/240.34 miGray Street, Workington2
£75003/250.35 mi-2
£57511/230.35 mi-2
£62511/240.35 mi-2
£61003/240.37 miVictoria Road, Workington, CA142
£62502/240.38 mi-2
£69503/250.38 mi-2
£65003/250.38 mi-2
£69503/250.41 mi-2
£62505/240.43 miFrostoms Road, Workington2
£65010/240.44 mi-2
£52504/240.44 mi-2
£55003/240.45 miIslay Place, Workington, CA142
£60004/240.47 miAshton Street, Workington2

Local Area Statistics

Population in CA14

35,826

Population in Workington

35,830

Town centre distance

0.73 miles away

Nearest school

0.10 miles away

Nearest train station

0.15 miles away

 

 

Rental growth (12m)

-1%

Sales demand

Seller's market

Capital growth (5yrs)

+4%

Property History

Price changed to £60,000

December 12, 2024

Listed for £65,000

November 28, 2023

Floor Plans

Description

  • Offered for sale with no forward chain +
  • Two double bedrooms +
  • Contemporary kitchen and shower room +
  • Spacious traditional terrace +
  • Walking distance to the town centre +
  • Open plan lounge diner +
  • Ideal investment property +
  • Popular residential area +

Offered for sale with no forward chain, is this deceptively spacious, traditional terraced home. Whilst in need of some updating, the property is ideal for anyone looking to put there own stamp on it or perhaps an investor. Located in a popular residential area, the property is just a short walk to Workington town centre and the local amenities it offers. The property is also within walking distance to both Workington train and bus stations. The accommodation briefly comprises of: entrance vestibule, spacious open plan lounge diner and the kitchen to the ground floor. To the first floor there are two, spacious, double bedrooms and a large shower room which has a fitted vanity unit. Externally the property benefits from a low maintenance rear yard with gated access.

Agent Details

First Choice Move, Lillyhall

01946 552543

Next Steps?

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