6 Bed Terraced House, Refurb/BRRR, Morecambe, LA3 1TU, £179,950

Cavendish Road, Heysham, Morecambe, LA3 1TU - 2 views - a year ago

Refurb/BRRR
~186 m²
+9 photos

ValuationFair Value

Sold Prices£180K - £620K
Sold Prices/m²£1K/m² - £2.3K/m²

 

 

Square Metres

~186 m²
Price/m²£967/m²

Value Estimate

£179,950

 

 

End Value (After Refurb)

£243,378

Uplift in Value

+35%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£44,988

Stamp Duty & Legal Fees

£6,599

Refurb Costs

£75,200

Bridging Loan Interest

£4,724

Total Cash In

£133,260

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£243,378

Mortgage (After Refinance)

£182,534

Mortgage LTV

75%

Cash Released

£47,571

Cash Left In

£85,688

Equity

£60,845

Rent Range

£750 - £1,550

Rent Estimate

£978

Running Costs/mo

£976

Cashflow/mo

£2

Cashflow/yr

£22

ROI

0%

Gross Yield

7%

Local Sold Prices

10 sold prices from £180K to £620K, average is £298K. £1K/m² to £2.3K/m², average is £1.3K/m².

PriceDateDistanceAddressBeds 
£180K08/210.22 mi176, Heysham Road, Heysham, Morecambe, Lancashire LA3 1DJ6
£325K03/210.27 mi103, Balmoral Road, Morecambe, Lancashire LA3 1SS6
£225K03/210.36 mi85, Balmoral Road, Morecambe, Lancashire LA3 1BH6
£450K04/211.36 mi113, White Lund Road, Morecambe, Lancashire LA3 3DX6
£192K11/201.45 mi4, Thornton Grove, Morecambe, Lancashire LA4 5PU6
£430K09/221.64 mi188, Lancaster Road, Morecambe, Lancashire LA4 5TL6
£620K11/211.96 mi424, Marine Road East, Morecambe, Lancashire LA4 6AA6
£276K04/232 mi46, St Margarets Road, Morecambe, Lancashire LA4 6EF6
£320K03/212.04 mi30, Seaborn Road, Morecambe, Lancashire LA4 6BB6
£192K02/212.14 mi8, Beach Street, Morecambe, Lancashire LA4 6BT6

Local Rents

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

RentDateDistanceAddressBeds 
£82507/240.06 miHampton Road, Heysham, Morecambe4
£89505/240.07 miHampton Road, Heysham3
£95004/240.08 miCumberland View Road, Heysham, Morecambe3
£1,25012/230.16 mi-4
£75012/230.24 mi-3
£95005/240.38 miClarendon Road, Morecambe3
£95008/240.41 miChatsworth Road, Morecambe, Lancashire, LA43
£77507/240.42 miBalmoral Road, Morecambe, Lancashire, LA43
£89908/240.42 miAlbert Road, Morecambe, Lancashire, LA43
£89908/240.42 miAlbert Road, Morecambe, Lancashire, LA43
£95008/240.43 miChatsworth Road, Morecambe, Lancashire, LA43
£95008/240.43 miChatsworth Road, Morecambe, Lancashire, LA43
£99505/240.46 miWest End4
£75005/240.46 miWest End, Morecambe, LA43
£75005/240.46 miWest End, Morecambe, LA43
£1,55003/240.48 mi-8
£1,20006/240.48 mi-8
£85004/240.49 miWoodlands Drive, Heysham, Morecambe3
£80004/240.5 miHawksworth Grove, Heysham4
£1,25007/240.51 miWestminster Road, Morecambe5
£1,35004/240.57 miHeysham Road, Lancaster, Morecambe4

Local Area Statistics

Population in LA3

24,587

Population in Morecambe

50,836

Town centre distance

1.20 miles away

Nearest school

0.10 miles away

Nearest train station

0.87 miles away

 

 

Rental growth (12m)

-2%

Sales demand

Buyer's market

Capital growth (5yrs)

+31%

Property History

Price changed to £179,950

September 25, 2024

Listed for £185,000

May 16, 2024

Floor Plans

Description

  • VIRTUAL VIEWING AVAILABLE. CLICK ON THE VIDEO TOUR ABOVE +
  • Six Bedroom Mid Terrace Property In Morecambe's West End +
  • Lounge, Dining Room, Kitchen, Plus Rear Yard & Cellar +
  • Six Good Size Bedrooms, Bathroom & Shower Room +
  • Great Location, Close to Local Amenities And Transport Links +

Farrell Heyworth are pleased to present this six bedroom mid terrace home in Morecambe. The property is well presented but is in need of some renovation on the top floor, it is close to local amenities and public transport links.

Internally you will find a spacious lounge, dining room, kitchen diner and cellar. To the first floor are three good sized bedrooms and a modern shower room, on the second floor is a family bathroom and three further bedrooms.

To the rear there is an enclosed yard with a wall surround and gated access.

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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