5 Bed Terraced House, Cash/Bridging Only, Preston, PR1 3TN, £250,000

Bairstow Street, Preston, Lancashire, PR1 3TN - 11 views - 9 months ago

Under Offer
Cash
ROI: 6%
~178 m²
+20 photos

ValuationUndervalued

Sold Prices£128.5K - £1.1M
Sold Prices/m²£918/m² - £3K/m²

 

 

Square Metres

~178.28 m²
Price/m²£1.4K/m²

Value Estimate

£257,500
BMV3%

 

 

End Value (After Refurb)

£244,973

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£62,500

Stamp Duty & Legal Fees

£8,700

Refurb Costs

£75,600

Bridging Loan Interest

£6,563

Total Cash In

£155,113

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£244,973

Mortgage (After Refinance)

£183,729

Mortgage LTV

75%

Cash Left In

£155,113

Equity

£61,243

Rent Range

£468 - £3,940

Rent Estimate

£2,028

Running Costs/mo

£1,191

Cashflow/mo

£837

Cashflow/yr

£10,042

ROI

6%

Gross Yield

10%

Local Sold Prices

27 sold prices from £128.5K to £1.1M, average is £280K. £918/m² to £3K/m², average is £1.9K/m².

PriceDateDistanceAddressBeds 
£240K06/230.11 mi22, Latham Street, Preston, Lancashire PR1 3TE5
£146.5K05/210.43 mi21, Stanley Place, Preston, Lancashire PR1 8NA5
£210K08/210.97 mi91, Wellington Street, Preston, Lancashire PR1 8TQ5
£310K06/210.98 mi49, Ridge Way, Penwortham, Preston, Lancashire PR1 9XW5
£412K12/200.98 mi15, Ridge Way, Penwortham, Preston, Lancashire PR1 9XW5
£1.1M06/231.03 miValley Lodge, Valley Road, Penwortham, Preston, Lancashire PR1 9XQ5
£220K01/211.15 mi68, Fishwick View, Preston, Lancashire PR1 4YB5
£275K06/211.2 mi128, Greencroft, Penwortham, Preston, Lancashire PR1 9LD5
£370K02/231.23 mi24, The Oaks, Walton Le Dale, Preston, Lancashire PR5 4LT5
£210K03/211.28 mi56, Brackenbury Road, Preston, Lancashire PR1 7UQ5
£280K08/231.32 mi13, Higher Walton Road, Walton Le Dale, Preston, Lancashire PR5 4HA5
£487.5K11/201.35 mi64, Cop Lane, Penwortham, Preston, Lancashire PR1 0SR5
£480K08/231.39 mi28, Highgate, Penwortham, Preston, Lancashire PR1 0DU5
£362.5K01/211.42 mi21, Carrwood Way, Walton Le Dale, Preston, Lancashire PR5 4NR5
£195K03/211.43 mi49, Dorchester Avenue, Walton Le Dale, Preston, Lancashire PR5 4PE5
£345K03/211.43 mi7, The Vineyard, Walton Le Dale, Preston, Lancashire PR5 4PR5
£380K11/201.45 mi114, Cop Lane, Penwortham, Preston, Lancashire PR1 0UR5
£240K12/201.48 mi81, Ribbleton Avenue, Preston, Lancashire PR1 5RX5
£327.5K12/201.56 mi2, Broad Oak Lane, Penwortham, Preston, Lancashire PR1 0UX5
£610K06/211.58 mi41, Watling Street Road, Fulwood, Preston, Lancashire PR2 8EA5
£128.5K06/211.61 mi23, Fermor Road, Preston, Lancashire PR1 4TX5
£380K03/211.67 mi2, Highgate Avenue, Fulwood, Preston, Lancashire PR2 8LL5
£269.9K11/201.73 mi13, Cedar Way, Penwortham, Preston, Lancashire PR1 0PE5
£253K05/211.82 mi41a, Severn Drive, Walton Le Dale, Preston, Lancashire PR5 4TD5
£280K04/231.85 mi91, Whitefield Road, Penwortham, Preston, Lancashire PR1 0QR5
£230K02/211.95 mi5, Cottonwood Close, Bamber Bridge, Preston, Lancashire PR5 6DG5
£459.9K10/221.96 mi54, Townlea Close, Penwortham, Preston, Lancashire PR1 0NY5

Local Rents

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

RentDateDistanceAddressBeds 
£3,00307/240 miBairstow Street Preston PR1 3TN7
£62503/250.02 mi-3
£72502/250.02 mi-3
£2,00002/250.03 mi-6
£2,41806/240.07 miRibblesdale Preston PR1 3NA6
£1,56006/240.07 miRibblesdale Place Preston PR1 3NA3
£1,00007/240.07 miGuild House, Preston3
£2,73007/240.09 miCross Street Preston PR1 3LT7
£2,75607/240.09 miStarkie Street Preston PR1 3LT7
£1,30007/240.12 miFrenchwood Street, Preston, Lancashire, PR15
£1,30008/240.12 miFrenchwood Street, Preston5
£95006/240.12 miGreat Avenham Street, Preston, PR14
£1,66406/240.13 mi20 Cannon Street-FM, PRESTON PR1 3NR4
£92506/240.13 miGreat Avenham Street, Preston, Lancashire, PR13
£1,60007/240.14 miCannon Street, Preston, PR15
£1,63606/240.19 miConnaught House, 15-17 Mount Street, Preston, PR13
£1,56907/240.19 miMount Street, Preston, Lancashire, PR13
£1,40007/240.19 miGlovers Court, Preston3
£1,65007/240.19 miCity Bridge Apartments, Glovers Court, Preston3
£3,94007/240.2 miAvenham Terrace, Preston, Lancashire, PR17
£2,50007/240.2 miAvenham Road, Preston, Lancashire, PR15
£3,91307/240.2 miAvenham Terrace, Preston7
£2,70807/240.2 miAvenham Terrace, Preston5
£2,99006/240.2 miChapel Street, PRESTON, Lancashire PR1 8BU6
£2,83606/240.28 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
£46806/240.3 miTithebarn Street, Preston, PR14
£46806/240.3 mi-4
£3,12006/240.31 miTithebarn Street, Preston, PR17
£2,34006/240.32 miTithebarn Street, Preston, PR15
£2,34007/240.32 mi22 Tithebarn Street, Preston, PR15
£2,80807/240.32 mi22 Tithebarn Street, Preston, PR16
£3,12207/240.32 miJazz Bar, Tithebarn Street, Preston, Lancashire, PR17
£1,81207/240.32 mi7 Tithebarn Street, Preston, PR14
£2,34007/240.32 miGuild Tavern - GF Flat5
£2,34007/240.32 miGuild Tavern - 1st floor flat5
£2,80807/240.32 miThe Guild Tavern 2nd floor flat6
£2,80807/240.32 miThe Jazz bar Ground floor flat 26
£2,80806/240.32 miThe Jazz bar 1st floor flat 46
£3,12407/240.32 miThe Jazz bar 3rd floor flat 77
£1,87207/240.32 miThe Jazz Bar Ground floor Flat 14
£1,87207/240.32 miThe Jazz Bar 1st Floor Flat 34
£2,34006/240.32 miTithebarn Street, Preston, PR15
£1,00003/250.35 mi-3
£1,50007/240.4 miChristian Road, Preston5
£95008/240.41 miChristian Road Preston PR1 8NB4
£90008/240.41 miChristian Road Preston PR1 8NB4
£1,50007/240.41 miChristian Road, PRESTON PR1 8NB5

Local Area Statistics

Population in PR1

72,064

Population in Preston

286,036

Town centre distance

1.01 miles away

Nearest school

0.10 miles away

Nearest train station

0.34 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

+3%

Sales demand

Seller's market

Capital growth (5yrs)

+17%

Property History

Listed for £250,000

July 4, 2024

Sold for £250,000

2005

Floor Plans

Description

  • INVESTMENT OPPORTUNITY +
  • 5 FLATS +
  • REQUIRES FULL REFURBISHMENT - CASH BUYERS +
  • DESIRABLE LOCATION +
  • EXCELLENT RENTAL POTENTIAL +
  • CALL FOR MORE DETAILS +
  • FREEHOLD +

Hazelwells are pleased to offer for sale this traditional mid terrace property arranged as 5 flats located in a popular location of Preston City Centre. The property requires full refurbishment and briefly comprises; ground floor entrance hallway, two x 1 bed flats, first floor 2 x 1 bed flats and a third floor studio flat. Situated on Bairstow Street this is an ideal opportunity for someone to add value for potential resale or bring much needed accommodation to the rental market. Only a short walk to all city centre amenities, train & bus station and close to Winckley Square, Avenham & Miller Parks. NO CHAIN.

We are advised that the property is FREEHOLD.

Ground Floor
Entrance Hallway

Vestibule leading into the communal hallway with stairs to first floor and stairs leading to the basement.

Flat 1

Living room
13' 10'' x 16' 2'' (4.22m x 4.92m)
Bay window to the front and window to the side elevation.

Bedroom
12' 4'' x 14' 11'' (3.77m x 4.55m)
Window to the side elevation.

En suite
3' 10'' x 8' 0'' (1.18m x 2.45m)
Window to the rear.

Flat 2

Living / Bedroom
23' 7'' x 12' 2'' (7.18m x 3.71m)
Open plan bedroom living room with double glazed windows and door leading to a rear yard.

Shower Room
3' 9'' x 7' 8'' (1.14m x 2.34m)

Kitchen
4' 3'' x 13' 1'' (1.30m x 4.00m)
Fitted wall and base units, double glazed windows and door to the rear yard.

First Floor

Flat 3

Living room & Kitchen
13' 9'' x 21' 8'' (4.18m x 6.60m)
Fitted kitchen with wall and base units. Two windows to teh front elevation.

Bedroom
12' 6'' x 13' 11'' (3.81m x 4.25m)
Window to the rear, space for en suite shower and wc.

Flat 4

Hall

Bedroom
12' 8'' x 9' 2'' (3.87m x 2.79m)
Two sash windows to the side and an ensuite.

Kitchen living room
10' 8'' x 12' 3'' (3.24m x 3.73m)
Sash window to the side.

Second Floor

Flat 5
19' 9'' x 19' 11'' (6.03m x 6.07m)
Studio flat with fitted kitchen, en suite and velux windows.

Basement

Room 1
15' 10'' x 15' 8'' (4.82m x 4.78m)

Room 2
13' 0'' x 4' 10'' (3.95m x 1.47m)

If you are thinking of selling or renting your home why not ask us to provide a free market appraisal with detailed valuation report and see how our fresh & enthusiastic approach to marketing will help to sell your house. PROPERTY MISDESCRIPTIONS: The agent has not tested any apparatus, equipment, fixtures and fittings, or services, so cannot verify that they are in working order or fit for the purpose. References to the Tenure of the property are based on information supplied by the Vendor. The agents have not had sight of the title documents. The buyer is advised to obtain verification from their Solicitor. Fixtures & Fittings other than those mentioned within these details need to be confirmed with the seller. Please note that any services, heating systems or appliances have not been tested and no warranty can be given or implied as to their working order. Hazelwells have produced these details in good faith and believe them to provide a fair and accurate description of the property. Following viewing and prior to financial commitment, prospective buyers should satisfy themselves as to the property's suitability and make their own enquiries relating to specific points of importance. The accuracy of these particulars is not guaranteed and they do not form part of any contract. You are advised to check the availability of any property before travelling any distance to view.

Agent Details

Hazelwells, Preston

01772 823050

Next Steps?

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