4 Bed Terraced House, Refurb/BRRR, Preston, PR1 3TL, £174,950

309 Garstang Road, Preston PR2 9XJ - 15 views - a year ago

Sold STC
Leasehold
Refurb/BRRR
ROI: 10%
~129 m²
+8 photos

ValuationUndervalued

Sold Prices£70K - £1.4M
Sold Prices/m²£619/m² - £4.9K/m²

 

 

Square Metres

~129.26 m²
Price/m²£1.4K/m²

Value Estimate

£203,949
BMV2%

 

 

End Value (After Refurb)

£178,813

Uplift in Value

+-11%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£43,738

Stamp Duty & Legal Fees

£7,199

Refurb Costs

£54,811

Bridging Loan Interest

£4,592

Total Cash In

£112,089

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£178,813

Mortgage (After Refinance)

£134,109

Mortgage LTV

75%

Cash Released

£2,897

Cash Left In

£109,192

Equity

£44,703

Rent Range

£468 - £3,940

Rent Estimate

£2,005

Running Costs/mo

£980

Cashflow/mo

£1,025

Cashflow/yr

£12,303

ROI

11%

Gross Yield

14%

Local Sold Prices

50 sold prices from £70K to £1.4M, average is £287.5K. £619/m² to £4.9K/m², average is £2.2K/m².

PriceDateDistanceAddressBeds 
£300K02/230.03 mi27, Bairstow Street, Preston, Lancashire PR1 3TN4
£200K11/200.1 mi50, Great Avenham Street, Preston, Lancashire PR1 3TD4
£230K07/230.53 mi15, Frenchwood Avenue, Preston, Lancashire PR1 4ND4
£148K06/230.56 mi41, Christ Church Street, Preston, Lancashire PR1 8PH4
£105K12/200.6 mi23, Deepdale Road, Preston, Lancashire PR1 5AP4
£247K06/230.75 mi53, Broadgate, Preston, Lancashire PR1 8DU4
£202K12/200.76 mi83, Margaret Road, Penwortham, Preston, Lancashire PR1 9RU4
£259.9K03/210.97 mi73, Wellington Street, Preston, Lancashire PR1 8TQ4
£325K06/231.01 mi29, Ridge Way, Penwortham, Preston, Lancashire PR1 9XW4
£295K03/211.01 mi36, Ridge Way, Penwortham, Preston, Lancashire PR1 9XW4
£247K02/211.01 mi35, Ridge Way, Penwortham, Preston, Lancashire PR1 9XW4
£125K07/231.01 mi17, St Marks Road, Preston, Lancashire PR1 8TL4
£80K01/211.02 mi26, Linnet Street, Preston, Lancashire PR1 6TL4
£249.9K05/231.03 miThe Cottage, Marshalls Brow, Penwortham, Preston, Lancashire PR1 9HY4
£170K12/201.04 mi295, Deepdale Road, Preston, Lancashire PR1 6LL4
£280.5K02/231.05 mi32, Clough Avenue, Walton Le Dale, Preston, Lancashire PR5 4LQ4
£180K07/231.05 mi8, Hawkhurst Road, Preston, Lancashire PR1 6SU4
£475K02/231.05 mi67, Abbot Meadow, Penwortham, Preston, Lancashire PR1 9JX4
£364.5K03/211.07 mi47, Abbot Meadow, Penwortham, Preston, Lancashire PR1 9JX4
£1.4M09/211.07 mi9, Church Avenue, Penwortham, Preston, Lancashire PR1 0AH4
£630K06/211.07 mi12, Church Avenue, Penwortham, Preston, Lancashire PR1 0AH4
£302.5K11/201.07 mi40, Clough Avenue, Walton Le Dale, Preston, Lancashire PR5 4LQ4
£384K12/201.07 mi8, Stansford Court, Penwortham, Preston, Lancashire PR1 9PR4
£94K02/211.1 mi10, Cheviot Street, Preston, Lancashire PR1 8UE4
£595K02/231.11 mi9, Hollinhurst Avenue, Penwortham, Preston, Lancashire PR1 0AE4
£473K11/201.11 mi23, Hollinhurst Avenue, Penwortham, Preston, Lancashire PR1 0AE4
£480K10/211.13 mi2, Penwortham Court, Penwortham, Preston, Lancashire PR1 9YX4
£290K03/211.13 mi1, Priory Crescent, Penwortham, Preston, Lancashire PR1 0AL4
£475K04/231.16 mi156, Leyland Road, Penwortham, Preston, Lancashire PR1 9QB4
£475K03/211.17 mi9, Tower View, Penwortham, Preston, Lancashire PR1 0BQ4
£372K02/211.17 mi1, Loxwood Close, Walton Le Dale, Preston, Lancashire PR5 4NQ4
£505K06/231.17 mi12, Loxwood Close, Walton Le Dale, Preston, Lancashire PR5 4NQ4
£250K03/231.18 mi18, Park Lane, Penwortham, Preston, Lancashire PR1 9JB4
£115K12/201.2 mi29, Norris Street, Preston, Lancashire PR1 7PX4
£452K03/211.21 mi9, Abbotsway, Penwortham, Preston, Lancashire PR1 0BD4
£255K09/211.21 mi74, Greencroft, Penwortham, Preston, Lancashire PR1 9LB4
£395K02/231.22 mi5, Alcester Avenue, Penwortham, Preston, Lancashire PR1 9XN4
£271K02/211.22 mi73, Greencroft, Penwortham, Preston, Lancashire PR1 9LB4
£240K12/201.23 mi110, Greencroft, Penwortham, Preston, Lancashire PR1 9LD4
£600K03/231.23 mi7, Kingsway, Penwortham, Preston, Lancashire PR1 0AP4
£102K04/231.23 mi22, Oxheys Street, Preston, Lancashire PR1 7PP4
£460K02/211.23 mi26, Round Wood, Penwortham, Preston, Lancashire PR1 0BN4
£70K01/211.24 mi360, Ribbleton Lane, Preston, Lancashire PR1 5EE4
£134.9K06/231.24 mi37, Crompton Street, Preston, Lancashire PR1 5RT4
£290K03/211.24 mi39, The Oaks, Walton Le Dale, Preston, Lancashire PR5 4LT4
£132K03/231.24 mi2, Eldon Street, Preston, Lancashire PR1 7YE4
£285K03/211.24 mi17, Springwood Close, Walton Le Dale, Preston, Lancashire PR5 4AF4
£349.9K07/231.24 mi16, Springwood Close, Walton Le Dale, Preston, Lancashire PR5 4AF4
£490K08/211.3 mi33, Priory Lane, Penwortham, Preston, Lancashire PR1 0AR4
£370K02/231.3 mi21, Kingsway, Penwortham, Preston, Lancashire PR1 0BJ4

Local Rents

50 rents from £468/mo to £3.9K/mo, average is £1.9K/mo.

RentDateDistanceAddressBeds 
£3,00307/240.02 miBairstow Street Preston PR1 3TN7
£62503/250.04 mi-3
£72502/250.04 mi-3
£2,00002/250.05 mi-6
£2,75607/240.07 miStarkie Street Preston PR1 3LT7
£2,73007/240.07 miCross Street Preston PR1 3LT7
£1,00007/240.08 miGuild House, Preston3
£2,41806/240.1 miRibblesdale Preston PR1 3NA6
£1,56006/240.1 miRibblesdale Place Preston PR1 3NA3
£1,30007/240.1 miFrenchwood Street, Preston, Lancashire, PR15
£1,30008/240.1 miFrenchwood Street, Preston5
£95006/240.11 miGreat Avenham Street, Preston, PR14
£1,66406/240.11 mi20 Cannon Street-FM, PRESTON PR1 3NR4
£92506/240.12 miGreat Avenham Street, Preston, Lancashire, PR13
£1,60007/240.12 miCannon Street, Preston, PR15
£1,40007/240.17 miGlovers Court, Preston3
£1,65007/240.18 miCity Bridge Apartments, Glovers Court, Preston3
£3,94007/240.19 miAvenham Terrace, Preston, Lancashire, PR17
£2,50007/240.19 miAvenham Road, Preston, Lancashire, PR15
£3,91307/240.19 miAvenham Terrace, Preston7
£2,70807/240.19 miAvenham Terrace, Preston5
£1,63606/240.2 miConnaught House, 15-17 Mount Street, Preston, PR13
£2,99006/240.21 miChapel Street, PRESTON, Lancashire PR1 8BU6
£1,56907/240.21 miMount Street, Preston, Lancashire, PR13
£46806/240.28 miTithebarn Street, Preston, PR14
£46806/240.28 mi-4
£2,83606/240.29 miFishergate, Preston, PR15
£1,30007/240.29 miSt Wilfrid Street, PRESTON, Lancashire PR1 2US4
£1,30007/240.29 miSt Wilfrid Street, PRESTON, Lancashire PR1 2US4
£2,20007/240.29 miSt Wilfrid Street, PRESTON, Lancashire PR1 2US6
£3,12006/240.29 miTithebarn Street, Preston, PR17
£2,34006/240.29 miTithebarn Street, Preston, PR15
£2,34007/240.29 mi22 Tithebarn Street, Preston, PR15
£2,80807/240.29 mi22 Tithebarn Street, Preston, PR16
£3,12207/240.29 miJazz Bar, Tithebarn Street, Preston, Lancashire, PR17
£1,81207/240.29 mi7 Tithebarn Street, Preston, PR14
£2,34007/240.29 miGuild Tavern - GF Flat5
£2,34007/240.29 miGuild Tavern - 1st floor flat5
£2,80807/240.29 miThe Guild Tavern 2nd floor flat6
£2,80807/240.29 miThe Jazz bar Ground floor flat 26
£2,80806/240.29 miThe Jazz bar 1st floor flat 46
£3,12407/240.29 miThe Jazz bar 3rd floor flat 77
£1,87207/240.29 miThe Jazz Bar Ground floor Flat 14
£1,87207/240.29 miThe Jazz Bar 1st Floor Flat 34
£2,34006/240.3 miTithebarn Street, Preston, PR15
£1,00004/250.33 mi-3
£1,17507/240.39 miPole Street, Preston, PR13
£1,56007/240.4 mi1 Pole Street Preston PR1 1DX3
£1,25007/240.41 mi4 Pole Street, Preston, PR13
£1,49506/240.42 miPole Street, Preston, Lancashire, PR13

Local Area Statistics

Population in PR1

72,064

Population in Preston

286,036

Town centre distance

0.98 miles away

Nearest school

0.10 miles away

Nearest train station

0.35 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

+3%

Sales demand

Seller's market

Capital growth (5yrs)

+17%

Property History

Price changed to £174,950

December 4, 2024

Listed for £199,950

December 15, 2023

Floor Plans

Description

  • VIRTUAL VIEWING AVAILABLE CLICK ON THE VIDEO TOUR ABOVE +
  • Substantial Mid Terraced House Close To City Centre +
  • Four Bedrooms, Three Reception Rooms +
  • Good Sized Basement Area, Gas Central Heating +
  • Modernisation Required, Great Potential, Popular Location +

Situated in an established residential location and within just a short walk of Winckley Square and city centre, this is a generously proportioned mid terraced house offering great family sized accommodation the size and layout of which can only be appreciated by internal inspection.

Requiring modernisation but with fantastic potential, the gas central heated accommodation comprises: Hallway, three ground floor reception rooms, kitchen and access to a useful basement area.

To the first floor, there are four bedrooms with wash facilities and a three piece bathroom.

Lobby access to an enclosed rear yard. Internal inspection comes highly recommended.
Leasehold information: Terms: 999 years from 1st May 1838
Current Ground Rent: TBC
Council Tax Information: Band C

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, Preston & Central Lancashire

01772 963630

Next Steps?

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