2 Bed Flat, Single Let, Morecambe, LA3 1TG, £110,000

Alexandra Road, Morecambe, LA3 1TG - 6 views - a year ago

Leasehold
BTL
ROI: 5%
~68 m²
+4 photos

ValuationOvervalued

Sold Prices£44K - £182K
Sold Prices/m²£1.3K/m² - £2.9K/m²

 

 

Square Metres

~68.11 m²
Price/m²£1.6K/m²

Value Estimate

£103,763

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£27,500

Stamp Duty & Legal Fees

£4,500

Total Cash In

£32,000

 

 

Cash Out

 

Rent Range

£425 - £1,500

Rent Estimate

£625

Running Costs/mo

£489

Cashflow/mo

£136

Cashflow/yr

£1,635

ROI

5%

Gross Yield

7%

Local Sold Prices

22 sold prices from £44K to £182K, average is £89.5K. £1.3K/m² to £2.9K/m², average is £1.5K/m².

PriceDateDistanceAddressBeds 
£120K06/210.13 mi188, Westminster Road, Morecambe, Lancashire LA3 1SN2
£145K02/230.15 miFlat 33, Marine Court, Sandylands Promenade, Heysham, Morecambe, Lancashire LA3 1HQ2
£84.5K12/220.21 mi122a, Balmoral Road, Morecambe, Lancashire LA3 1ST2
£120K08/210.25 mi66, Regent Road, Morecambe, Lancashire LA3 1TF2
£50K12/220.3 miFlat 3, Sunacre Court, Maple Avenue, Heysham, Morecambe, Lancashire LA3 1HY2
£58K01/210.31 miFlat 17, Sunacre Court, Maple Avenue, Heysham, Morecambe, Lancashire LA3 1HY2
£70K09/210.32 mi49, Balmoral Road, Morecambe, Lancashire LA4 4JR2
£75K03/210.38 mi29, Dalton Road, Heysham, Morecambe, Lancashire LA3 1HD2
£93K07/210.42 mi185, Heysham Road, Heysham, Morecambe, Lancashire LA3 1DF2
£122K01/210.44 mi8, Westminster Avenue, Morecambe, Lancashire LA4 4DU2
£182K10/210.46 miApartment 42, Grosvenor Apartments, Sandylands Promenade, Morecambe, Lancashire LA3 1GW2
£75.8K06/210.47 mi10a, Westfield Grove, Morecambe, Lancashire LA4 4LQ2
£77K01/230.49 mi33a, Norton Road, Heysham, Morecambe, Lancashire LA3 1HA2
£97.5K12/200.5 mi243a, Heysham Road, Heysham, Morecambe, Lancashire LA3 1NN2
£86K12/200.51 mi8, Balmoral Road, Morecambe, Lancashire LA4 4JN2
£112K03/230.62 mi13, Sandringham Court, Morecambe, Lancashire LA4 4NG2
£44K05/210.65 mi33, Hawksworth Grove, Heysham, Morecambe, Lancashire LA3 1LU2
£127.5K04/230.77 mi25, Essington Avenue, Morecambe, Lancashire LA4 4PA2
£95K04/210.92 mi54, Hampsfell Drive, Morecambe, Lancashire LA4 4TU2
£75.5K05/210.92 mi78, Hampsfell Drive, Morecambe, Lancashire LA4 4TU2
£84K07/210.92 mi39, Gaisgill Avenue, Morecambe, Lancashire LA4 4UF2
£93K07/210.97 mi87, Hampsfell Drive, Morecambe, Lancashire LA4 4TP2

Local Rents

50 rents from £425/mo to £1.5K/mo, average is £699/mo.

RentDateDistanceAddressBeds 
£62507/240.07 miMarine Road West, Morecambe2
£82507/240.07 miBold Street, Morecambe, Lancashire, LA32
£82507/240.07 miBold Street, Morecambe, Lancashire, LA32
£85007/240.07 miBold Street, Morecambe, Lancashire, LA32
£85008/240.07 miBold Street, Morecambe, Lancashire, LA32
£82508/240.07 miBold Street, Morecambe, Lancashire, LA32
£85008/240.07 miBold Street, Morecambe, Lancashire, LA32
£65007/240.07 miMarine Road, Morecambe, LA32
£65008/240.07 miMarine Road, Morecambe, LA32
£65006/230.08 mi-2
£67507/240.08 miMarine Road West, Morecambe, LA32
£67508/240.11 miFlat 3, 20 Sefton Road, Heysham2
£65003/250.13 mi-2
£71502/240.13 mi-2
£75002/250.13 mi-2
£60011/230.13 mi-2
£65007/230.13 mi-2
£65007/240.14 miHeysham Road, Heysham2
£72504/240.16 mi28 Sandylands Promenade, Morecambe2
£66004/240.17 mi-2
£67512/240.17 mi-2
£42507/230.17 mi-2
£67504/250.17 mi-2
£80003/250.18 mi-2
£67508/240.2 miRegent Road, Morecambe2
£67509/240.2 miRegent Road, Morecambe2
£57505/240.2 miRegent Road, LA32
£77505/240.2 miHarrington Road, Heysham, LA32
£65006/240.21 miBalmoral Road, Heysham2
£85004/240.21 miClarendon Road, Morecambe2
£75006/240.21 miBalmoral Road, Morecambe2
£67509/240.23 miRegent Road, Morecambe, LA32
£66507/240.23 miRegent Road, Morecambe2
£69905/240.25 miRegent Road, Morecambe, Lancashire, LA32
£85008/240.25 miRegent Road, Morecambe, Lancashire, LA32
£62510/240.25 mi-2
£72507/240.26 miAlbert Road, Morecambe, Lancashire, LA42
£69907/240.26 miAlbert Road, Morecambe, Lancashire, LA42
£72507/240.26 miAlbert Road, Morecambe, Lancashire, LA42
£69907/240.26 miAlbert Road, Morecambe, Lancashire, LA42
£79908/240.26 miAlbert Road, Morecambe, Lancashire, LA42
£89908/240.26 miAlbert Road, Morecambe, Lancashire, LA42
£89908/240.26 miAlbert Road, Morecambe, Lancashire, LA42
£69905/240.27 miAlbert Road, Morecambe, Lancashire, LA42
£1,50012/230.3 mi-2
£69905/240.31 miWest End2
£69905/240.31 miWest End, Morecambe, LA42
£70002/240.31 mi-2
£65002/240.31 mi-2
£75003/250.31 mi-2

Local Area Statistics

Population in LA3

24,587

Population in Morecambe

50,836

Town centre distance

1.04 miles away

Nearest school

0.20 miles away

Nearest train station

0.70 miles away

 

 

Rental growth (12m)

-2%

Sales demand

Buyer's market

Capital growth (5yrs)

+31%

Property History

Listed for £110,000

April 7, 2024

Floor Plans

Description

  • VIRTUAL VIEWING AVAILABLE. CLICK ON THE VIDEO TOUR ABOVE +
  • Two Bedroom Top Floor Flat In Morecambe +
  • Open Plan Living, Lounge And Fitted Kitchen +
  • Two Good Size Bedrooms, Bathroom +
  • Great Location, Close to Promenade And Transport Links +

Fantastic opportunity to purchase this top floor flat, the property is well presented and is situated in a popular residential location of Morecambe.

On internal inspection the property briefly comprises; Hallway, open plan lounge & kitchen, modern bathroom and two bedrooms.

The property benefits from an intercom system and key fob entry. Viewings are highly recommended to appreciate this superb property on offer.
Leasehold information: Terms: 999 years from date of completion
Current Ground Rent including Maintenance/Service charges: £75 per calendar month

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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