5 Bed HMO, Lancaster, LA1 3AP, £290,000

29 Dale Street, Lancaster, Lancashire, LA1 3AP - 7 views - 9 months ago

Sold STC
HMO
ROI: 11%
~137 m²
+13 photos

ValuationUndervalued

Sold Prices£250K - £1.0M
Sold Prices/m²£1.6K/m² - £4.3K/m²

 

 

Square Metres

~136.70 m²
Price/m²£2.1K/m²

Value Estimate

£346,679
BMV20%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£72,500

Stamp Duty & Legal Fees

£11,900

Total Cash In

£84,400

 

 

Cash Out

 

Room Rate

£563

Gross Rent

£2,815

Running Costs/mo

£2,061

Cashflow/mo

£754

Cashflow/yr

£9,046

ROI

11%

Gross Yield

12%

Local Sold Prices

28 sold prices from £250K to £1.0M, average is £465K. £1.6K/m² to £4.3K/m², average is £2.5K/m².

PriceDateDistanceAddressBeds 
£260K04/240.04 mi21, Dale Street, Lancaster, Lancashire LA1 3AP5
£460K03/210.13 mi39, Meadowside, Lancaster, Lancashire LA1 3AQ5
£370K03/210.13 mi13, Meadowside, Lancaster, Lancashire LA1 3AQ5
£390K03/210.17 mi23, South Road, Lancaster, Lancashire LA1 4XJ5
£365K11/230.39 mi1, Anderson Close, Lancaster, Lancashire LA1 3JE5
£521.3K02/210.45 mi6, Belle Vue Avenue, Lancaster, Lancashire LA1 4DD5
£640K03/230.57 mi2, Marlton Way, Lancaster, Lancashire LA1 5BW5
£465K11/200.71 mi14, Standen Park House, Lancaster, Lancashire LA1 3FF5
£440K06/210.77 mi44, Scotforth Road, Lancaster, Lancashire LA1 4SB5
£250K05/210.77 mi77, Ashfield Avenue, Lancaster, Lancashire LA1 5DZ5
£1.0M09/230.77 miMatingold, Stanmore Drive, Lancaster, Lancashire LA1 5BL5
£800K06/210.83 miAldercliffe, Haverbreaks Road, Lancaster, Lancashire LA1 5BJ5
£680K01/230.85 miWoodmuir, Westbourne Road, Lancaster, Lancashire LA1 5EF5
£500K12/220.87 mi67, Masonfield Crescent, Lancaster, Lancashire LA1 3SR5
£445K03/210.87 mi30, Spruce Avenue, Lancaster, Lancashire LA1 5LB5
£527.5K11/201.03 mi35, Lindbergh Avenue, Lancaster, Lancashire LA1 5FR5
£520K03/211.03 mi22, Lindbergh Avenue, Lancaster, Lancashire LA1 5FR5
£587.5K06/231.05 mi23, Yealand Drive, Lancaster, Lancashire LA1 4EW5
£1.0M10/221.17 miCoach House, Oaklands Court, Aldcliffe, Lancaster, Lancashire LA1 5AX5
£266K12/201.23 mi6, Sandown Road, Lancaster, Lancashire LA1 4LN5
£273K12/201.23 mi1, Sandown Road, Lancaster, Lancashire LA1 4LN5
£530K12/201.23 mi12, Craiglands Court, Aldcliffe, Lancaster, Lancashire LA1 5AU5
£465K10/231.56 mi16, Hazelwood Gardens, Lancaster, Lancashire LA1 4PQ5
£375K01/231.6 mi21, Winster Park, Lancaster, Lancashire LA1 5TH5
£485K10/211.68 miPeel Grange, Green Lane, Lancaster, Lancashire LA1 2ES5
£300K11/201.69 mi5, Calder Way, Morecambe, Lancashire LA3 3RX5
£379.9K12/201.79 mi1, Trent Close, Morecambe, Lancashire LA3 3SR5
£800K10/231.82 miWoodacre, Littlefell Lane, Lancaster, Lancashire LA2 0RQ5

Local Area Statistics

Population in LA1

52,095

Population in Lancaster

74,075

Town centre distance

0.68 miles away

Nearest school

0.20 miles away

Nearest train station

0.67 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+34%

Sales demand

Balanced market

Capital growth (5yrs)

+16%

Property History

Listed for £290,000

July 30, 2024

Sold for £182,500

2007

Sold for £112,500

2002

Sold for £66,000

1997

Floor Plans

Description

  • Substantial Terraced House +
  • 5 Bedrooms +
  • Bathroom & Shower Room +
  • Student Let w/HMO Licence +
  • Rear Yard +
  • Sought After Area +
  • Kitchen & Utility Room +
  • Easy City Access +
  • Transport & Travel Links +
  • No Chain +

Ideal investment/family home in sought-after south Lancaster with 5 bedrooms, bathroom, shower room, HMO licence for student let, city access, rear yard for outdoor relaxation/entertainment. No chain. Perfect urban haven!

EPC Rating: D Location Primrose is situated in South Lancaster, just a short walk from the city centre and beside the University of Cumbria. The area enjoys great access to all of Lancaster's amenities and is served by a regular bus service connecting the city, university and local towns. Lancaster's hospitals are just a short walk down the hill and there are popular schools within easy reach. At the top of Primrose Hill a footpath runs through the old Scotch Quarry Park, past the Community Gardens and onto Wyresdale Road and Williamson Park. It really is a charming and well situated location. The House Licensed HMOs rarely come to the open market and so this really is a rare opportunity for investors looking to expand their portfolio or to take the first step in Lancaster's strong student market. This substantial bay fronted terraced house is ideally positioned and fully furnished. Equally the house offers great sized accommodation for a family looking for great access to Lancaster's many amenities. The front and back doors have thumb turn locks and the front door opens to the vestibule with a further door opening to the main hallway. The communal lounge is at the rear. There is a focal fire and plenty of space for sofas and relaxation. The kitchen is modern with gloss white cabinets and there is space for a table and chairs meaning space to dine. The kitchen door leads out to the laundry area and from there a sliding door opens to the ground floor shower room and a double glazed door with thumb turn lock opens to the rear yard. There is also a basement. The Bedrooms & Bathrooms The house is licenced for five bedrooms with the front lounge used as a bedroom, three bedrooms on the first floor and one on the second floor. All rooms are generous doubles. There is a ground floor shower room at the rear and on the second floor a large bathroom with over bath shower. This layout works well for the student market but again it would work equally well as a generous four bed family home with the master bedroom and bathroom occupying the second floor, family bedrooms on the first floor and a separate lounge to the ground floor. Yard The rear yard is low maintenance and offers space to sit out and enjoy.

Agent Details

Lancastrian Estates, Lancaster

01524 967571

Next Steps?

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