4 Bed Terraced House, Refurb/BRRR, Morecambe, LA4 4HS, £145,000

38 Clarendon Road, Morecambe, Lancashire, LA4 4HS - 4 views - a year ago

Sold STC
Refurb/BRRR
ROI: 2%
~147 m²
+4 photos

ValuationUndervalued

Sold Prices£77K - £595K
Sold Prices/m²£527/m² - £6K/m²

 

 

Square Metres

~146.84 m²
Price/m²£987/m²

Value Estimate

£158,100
BMV2%

 

 

End Value (After Refurb)

£187,348

Uplift in Value

+21%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£36,250

Stamp Duty & Legal Fees

£5,850

Refurb Costs

£59,348

Bridging Loan Interest

£3,806

Total Cash In

£107,004

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£187,348

Mortgage (After Refinance)

£140,511

Mortgage LTV

75%

Cash Released

£31,761

Cash Left In

£75,243

Equity

£46,837

Rent Range

£750 - £1,550

Rent Estimate

£963

Running Costs/mo

£798

Cashflow/mo

£165

Cashflow/yr

£1,979

ROI

2%

Gross Yield

8%

Local Sold Prices

50 sold prices from £77K to £595K, average is £153K. £527/m² to £6K/m², average is £1.3K/m².

PriceDateDistanceAddressBeds 
£90K06/210.01 mi37, Clarendon Road East, Morecambe, Lancashire LA4 4HR4
£181K01/230.05 mi34, Westminster Road, Morecambe, Lancashire LA4 4JD4
£111.5K07/200.06 mi32, Chatsworth Road, Morecambe, Lancashire LA4 4JQ4
£95K06/230.06 mi75, Westminster Road, Morecambe, Lancashire LA4 4JE4
£177K05/210.07 mi72, Albert Road, Morecambe, Lancashire LA4 4HY4
£185K01/210.09 mi11, Chatsworth Road, Morecambe, Lancashire LA4 4JG4
£77K11/200.27 mi16, Scott Road, Morecambe, Lancashire LA3 1AJ4
£125K06/230.28 mi17, Marlborough Road, Heysham, Morecambe, Lancashire LA3 1TL4
£80K02/210.3 mi12, Brunswick Road, Heysham, Morecambe, Lancashire LA3 1RU4
£125K04/210.33 mi114, Sefton Road, Heysham, Morecambe, Lancashire LA3 1UE4
£155K01/230.36 mi192, Westminster Road, Morecambe, Lancashire LA3 1UN4
£105K09/210.41 mi25, Cavendish Road, Heysham, Morecambe, Lancashire LA3 1TX4
£280K06/210.42 mi12, Woodhill Close, Morecambe, Lancashire LA4 4PG4
£159.9K03/210.42 mi27, Woodhill Lane, Morecambe, Lancashire LA4 4NL4
£132K02/210.44 mi23, Stanley Road, Heysham, Morecambe, Lancashire LA3 1UP4
£169K01/230.46 mi4, Mears Beck Close, Heysham, Morecambe, Lancashire LA3 1UX4
£215K06/210.48 mi160, West End Road, Morecambe, Lancashire LA4 4EF4
£158K07/210.53 mi67, Granville Road, Heysham, Morecambe, Lancashire LA3 1ED4
£140K09/210.57 mi7, Norton Avenue, Heysham, Morecambe, Lancashire LA3 1HE4
£147K08/210.57 mi8, Norton Avenue, Heysham, Morecambe, Lancashire LA3 1HE4
£160K10/210.57 mi16, Norton Avenue, Heysham, Morecambe, Lancashire LA3 1HE4
£95K04/210.57 mi18, Norton Avenue, Heysham, Morecambe, Lancashire LA3 1HE4
£205K10/210.59 mi50, Battismore Road, Morecambe, Lancashire LA4 4QG4
£430K11/220.62 mi18, St Johns Grove, Heysham, Morecambe, Lancashire LA3 1ET4
£217.5K02/210.63 mi36, St Johns Road, Heysham, Morecambe, Lancashire LA3 1EX4
£83K03/210.64 mi186, Euston Grove, Morecambe, Lancashire LA4 5LJ4
£115K09/210.65 mi215, Euston Grove, Morecambe, Lancashire LA4 5LH4
£95K04/210.66 mi22, Central Drive, Morecambe, Lancashire LA4 5JU4
£139.9K11/200.67 mi8, Hestham Parade, Morecambe, Lancashire LA4 4QE4
£235K04/210.7 mi1, Wentworth Crescent, Morecambe, Lancashire LA3 3NZ4
£138K04/210.73 mi4, Rydal Grove, Heysham, Morecambe, Lancashire LA3 1DU4
£125K03/210.76 mi18, King Street, Morecambe, Lancashire LA4 5LP4
£105K10/200.77 mi46, Clarence Street, Morecambe, Lancashire LA4 5EX4
£206K02/210.79 mi91, Norton Road, Heysham, Morecambe, Lancashire LA3 1PG4
£325K04/210.79 mi124, Sandylands Promenade, Heysham, Morecambe, Lancashire LA3 1NS4
£375K01/230.8 mi26, Hampsfell Drive, Morecambe, Lancashire LA4 4TT4
£171K05/230.8 mi10, Bateman Grove, Morecambe, Lancashire LA4 5TB4
£595K01/230.85 miWhittam House, Oxcliffe Road, Heaton With Oxcliffe, Morecambe, Lancashire LA3 3EG4
£138K08/210.86 mi7, Oxford Street, Morecambe, Lancashire LA4 5JF4
£127K01/210.87 mi32, Oxford Street, Morecambe, Lancashire LA4 5JG4
£127K01/210.87 mi32, Oxford Street, Morecambe, Lancashire LA4 5JG4
£80K12/220.89 mi21, Oxford Street, Morecambe, Lancashire LA4 5JF4
£375K01/230.93 mi17, Cathedral Drive, Heaton With Oxcliffe, Morecambe, Lancashire LA3 3RE4
£369K09/200.93 mi296, Oxcliffe Road, Heaton With Oxcliffe, Morecambe, Lancashire LA3 3EJ4
£296K09/220.93 mi24, Cathedral Drive, Heaton With Oxcliffe, Morecambe, Lancashire LA3 3RE4
£151K05/230.93 mi25, Cross Street, Morecambe, Lancashire LA4 5ND4
£161.5K10/220.94 mi13, Cross Street, Morecambe, Lancashire LA4 5ND4
£230K04/210.95 mi14, Stansey Avenue, Heysham, Morecambe, Lancashire LA3 2AF4
£145K12/220.96 mi22, Leyster Street, Morecambe, Lancashire LA4 5NE4
£180K09/210.98 mi41, Crofters Fold, Heysham, Morecambe, Lancashire LA3 2AH4

Local Rents

21 rents from £750/mo to £1.6K/mo, average is £950/mo.

RentDateDistanceAddressBeds 
£95005/240.06 miClarendon Road, Morecambe3
£95008/240.06 miChatsworth Road, Morecambe, Lancashire, LA43
£95008/240.06 miChatsworth Road, Morecambe, Lancashire, LA43
£89908/240.07 miAlbert Road, Morecambe, Lancashire, LA43
£89908/240.07 miAlbert Road, Morecambe, Lancashire, LA43
£1,55003/240.07 mi-8
£1,20007/240.07 mi-8
£1,25007/240.08 miWestminster Road, Morecambe5
£95008/240.1 miChatsworth Road, Morecambe, Lancashire, LA43
£99505/240.12 miWest End4
£75005/240.12 miWest End, Morecambe, LA43
£75005/240.12 miWest End, Morecambe, LA43
£77507/240.12 miBalmoral Road, Morecambe, Lancashire, LA43
£75012/230.2 mi-3
£89505/240.45 miHampton Road, Heysham3
£75002/240.46 mi-3
£82507/240.47 miHampton Road, Heysham, Morecambe4
£95004/240.51 miCumberland View Road, Heysham, Morecambe3
£1,25012/230.57 mi-4
£1,00011/240.59 mi-4
£1,00011/240.59 mi-4

Local Area Statistics

Population in LA4

26,244

Population in Morecambe

50,836

Town centre distance

0.79 miles away

Nearest school

0.10 miles away

Nearest train station

0.44 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+14%

Sales demand

Buyer's market

Capital growth (5yrs)

+30%

Property History

Price changed to £145,000

December 4, 2024

Listed for £155,000

January 3, 2024

Sold for £120,000

2019

Sold for £95,000

2006

Floor Plans

Description

  • NO CHAIN +
  • END TERRACE +
  • FOUR BEDROOMS +
  • TWO BATHROOMS +
  • BASEMENT ROOMS +
  • SET OVER FOUR FLOORS +
  • GREAT INVESTMENT FOR AN AIRBNB +
  • POPULAR LOCATION +
  • WITHIN WALKING DISTANCE TO THE SEA FRONT +
  • GOOD LOCAL AMENITIES +

* NO CHAIN * FOUR BEDROOMS * TWO BATHROOMS * SET OVER FOUR FLOORS * SPACIOUS CORNER PLOT * LARGE KITCHEN/DINER * GROUND FLOOR CLOAKROOM * BASEMENT ROOMS * WITHIN WALKING DISTANCE TO THE SEA FRONT * GOOD LOCAL AMENITIES * INVESTMENT OPPORTUNITY FOR AN AIRBNB *

Four-bedroom family home set over four floors that offers versatile accommodation for a growing family or multi-generation living.
Although in need of some modernisation, this imposing home has so much potential to be returned to an outstanding property and would also make a great investment for an Airbnb.
The property is set within a popular area of Morecambe with good local primary and secondary schools, excellent local amenities and within walking distance to the promenade where you can enjoy lovely sea walks and a wide selection of restaurants and bars.

Accommodation:
Lounge, kitchen/diner, cloakroom, lower basement rooms with a bedroom, lounge and storage room. The first floor has two bedrooms and a family bathroom. A further two bedrooms can be found on the second floor with one having an en-suite shower room. Outside has a spacious rear yard and storage shed.
The property is offered with no onward chain.

Entrance Hallway - Stairs to the first floor and stairs to the lower basement.

Cloakroom - Wash hand basin, heated towel rail, W.C.

Lounge - Double-glazed bay window to the front, fireplace with inset electric fire, radiator, carpeted floor.

Open Plan Kitchen/Diner - Double-glazed windows-to-side, a range of matching wall and base units, stainless steel sink, plumbing for washing machine, five ring gas hob and extractor hood, space for fridge/freezer, Ideal combi boiler, radiator, laminate floor, space for table and chairs, double glazed door to the yard.

Lower Basement - Bedroom, Carpeted floor, radiator, lounge, door and window to the front, store room.

First Floor Landing - Stairs to the second floor, double glazed window to the side, carpeted floor.

Bedroom One - Double-glazed bay window to the front and window to the side, built-in wardrobes, laminate floor, radiator.

Bedroom Two - Double glazed window to the rear, laminate floor, radaitor.

Bathroom - Double-glazed frosted window to rear, panelled bath with shower attachment, wash hand basin, heated towel rail, laminate floor, extractor fan, W.C.

Second Floor Landing - Double-glazed window to side.

Bedroom Three - Double-glazed windows to front and side, laminate floor, radiator.

Bedroom Four - Double-glazed window to front, laminate floor, radiator, door to the en suite.

En-Suite Shower Room - Shower cubicle with thermostatic shower, wash hand basin, heated towel rail, extractor fan, W.C.

Outside - Fully enclosed rear yard, storage shed, patio area and gate to access road.

Useful Information - Tenure Freehold
Council Tax Band (B ) £1678.14
No Onward Chain

Agent Details

Mighty House, Lancaster

01524 967572

Next Steps?

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