2 Bed Terraced House, Refurb/BRRR, Lancaster, LA2 7DZ, £165,000

2 Ellergill Cottages, Burton Road, Lower Bentham, Lancaster, LA2 7DZ - 6 views - 8 months ago

Refurb/BRRR
ROI: 2%
~59 m²
+22 photos

ValuationUndervalued

Sold Prices£117.5K - £335K
Sold Prices/m²£1.8K/m² - £4.9K/m²

 

 

Square Metres

~58.90 m²
Price/m²£2.8K/m²

Value Estimate

£180,627

 

 

End Value (After Refurb)

£178,500

Uplift in Value

+-8%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£41,250

Stamp Duty & Legal Fees

£7,050

Refurb Costs

£23,787

Bridging Loan Interest

£4,331

Total Cash In

£78,168

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£178,500

Mortgage (After Refinance)

£133,875

Mortgage LTV

75%

Cash Released

£10,125

Cash Left In

£68,043

Equity

£44,625

Rent Range

£515 - £1,650

Rent Estimate

£916

Running Costs/mo

£761

Cashflow/mo

£155

Cashflow/yr

£1,860

ROI

2%

Gross Yield

7%

Local Sold Prices

18 sold prices from £117.5K to £335K, average is £177.5K. £1.8K/m² to £4.9K/m², average is £3.1K/m².

PriceDateDistanceAddressBeds 
£223K06/230.1 mi8, Cheapside, Lower Bentham, Lancaster, North Yorkshire LA2 7EJ2
£170K02/230.13 mi7, Highfield Terrace, Lower Bentham, Lancaster, North Yorkshire LA2 7EP2
£250K11/220.21 miValley Field, Low Bentham Road, Lower Bentham, Lancaster, North Yorkshire LA2 7BT2
£124K06/210.93 mi63, Main Street, Bentham, Lancaster, North Yorkshire LA2 7HP2
£175K09/230.98 mi6, Wenning Avenue, Bentham, Lancaster, North Yorkshire LA2 7LR2
£175K10/231 mi6, Police Yard, Bentham, Lancaster, North Yorkshire LA2 7HH2
£158K02/231.02 mi8, Mayfield Road, Bentham, Lancaster, North Yorkshire LA2 7LP2
£117.5K11/231.03 mi2, Mayfield Road, Bentham, Lancaster, North Yorkshire LA2 7LP2
£143K04/231.04 mi39, Banks Way, Bentham, Lancaster, North Yorkshire LA2 7JH2
£224K01/241.08 mi17, Lakeber Avenue, Bentham, Lancaster, North Yorkshire LA2 7JN2
£165K03/211.15 mi4, School Hill, Bentham, Lancaster, North Yorkshire LA2 7JX2
£315K04/231.18 miChee Tor, 38, Robin Lane, Bentham, Lancaster, North Yorkshire LA2 7AG2
£230K08/231.18 mi20, Butterbergh, Bentham, Lancaster, North Yorkshire LA2 7FG2
£180K05/211.67 mi2, Stonebower Cottages, Burton In Lonsdale, Carnforth, North Yorkshire LA6 3JX2
£257K07/231.7 miSmithy Cottage, Duke Street, Burton In Lonsdale, Carnforth, North Yorkshire LA6 3LG2
£152.5K08/231.7 mi2, Sawmill Cottages, Burton In Lonsdale, Carnforth, North Yorkshire LA6 3JS2
£190K01/211.73 miBreastfield Cottage, High Street, Burton In Lonsdale, Carnforth, North Yorkshire LA6 3JP2
£335K02/232.01 miMarethdale, Old Moor Road, Wennington, Lancaster, Lancashire LA2 8PD2

Local Rents

7 rents from £515/mo to £1.6K/mo, average is £775/mo.

RentDateDistanceAddressBeds 
£62505/241.04 miMill Gardens, Bentham2
£65004/241.04 miMain Street, Bentham, Lancaster3
£77504/241.08 mi12b Station Road, Bentham2
£51503/241.08 miThe Millers Court,Bentham,LA21
£1,30012/241.63 mi-4
£1,65012/241.77 miTatterthorn Road, Bentham, Lancaster5
£90005/242.17 miFourstones Cottage, Bentham, LA2 7DL3

Local Area Statistics

Population in LA2

21,979

Population in Lancaster

74,075

Town centre distance

12.35 miles away

Nearest school

0.10 miles away

Nearest train station

1.10 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

+7%

Sales demand

Buyer's market

Capital growth (5yrs)

+18%

Property History

Price changed to £165,000

February 16, 2025

Price changed to £185,000

December 12, 2024

Listed for £195,000

August 12, 2024

Floor Plans

Description

  • Charming Double Fronted 2 Bed House +
  • Freehold +
  • Council Tax Band B +
  • EPC Rating F +
  • 2 Reception Rooms +
  • Desireable Village Location +
  • Rear Garden +
  • Renovation Project +
  • Easy Access to Lakes & Dales +

A charming stone built double front property in desirable village location.

Accommodation consisting of two reception rooms and kitchen on the ground floor with two bedrooms and a bathroom on the first floor.

Externally there is a generous garden to the rear.

An ideal restoration project!

Property Description - Located in the village of Lower Bentham, 2 Ellergill Cottages is a quaint two bedroom mid-terrace double fronted stone built house with a charming stone entrance, packed with original features.

The layout comprises of a good sized sitting room, dining area, and kitchen. Stairs from the sitting room leading up to the first floor which consists of two good sized bedrooms, one double and one twin room with a bathroom.

Externally to the rear, is a useful attached stone built outbuilding and raised garden with established plants, and an area to the front.

The property has reached the stage where it would benefit from a full refurbishment and represents a super opportunity to create a charming main or second home in quiet location.

Low Bentham Location - Low Bentham is located on the western edge of North Yorkshire, close to Lancashire and Cumbria. The stunning Yorkshire Dales National Park is close by, along with the Forest of Bowland - an area of Outstanding Natural Beauty. Both the Lake District and Morecambe Bay can also be easily reached for great day trips. The village has a pub and is just over a mile from a good range of facilities in High Bentham including, shops, pubs, takeaways, bank, post office, primary school and surgery. The town has a train station on the Leeds/Lancaster line. Excellent secondary school options are available at Settle College and QES, Kirkby Lonsdale.

Property Information - Freehold
Council Tax Band: B
EPC Rating: F
All Mains Supply

Ground Floor -

Sitting Room - 4.54m x 3.77m (14'10" x 12'4") - Fitted carpet, radiator, open fireplace, exposed beams, staircase to the first floor, timber framed single glazed window to front aspect, timber framed and glazed doors to both front and rear aspects.

Dining Room - 1.76m x 2.62m (5'9" x 8'7") - Fitted carpet, radiator, exposed beams, timber framed single glazed window,

Kitchen - 2.68m x 2.62m (8'9" x 8'7") - Tiled flooring, range of fitted wall and base units, space for undercounter fridge and washing machine, cooker point, single stainless steel drainer sink, exposed beams, double glazed window to rear aspect, extractor fan.

First Floor -

Landing - 1.52m x 1.72m (4'11" x 5'7") - Fitted carpet, timber framed single glazed window to rear aspect, loft access, staircase to ground floor.

Bedroom One - 2.00m x 3.77m (6'6" x 12'4") - Double bedroom with fitted carpet, two radiators, two timber framed double glazed windows to front aspect.

Bedroom Two - 4.54m x 2.62m (14'10" x 8'7") - Twin room with fitted carpet, radiator, timber framed double glazed window to front aspect, timber framed single glazed window to rear aspect.

Bathroom - 2.27m x 1.95m (7'5" x 6'4") - Vinyl tiles, wash basin, bath, toilet, airing cupboard housing both cold water tank and immersion heater, timber framed single glazed window with textured glass to rear aspect.

Store - Useful dry store.

Garden - Generous rear garden with steps leading to raised area of lawn, and established plants.

Parking - Space for off-street parking at front of property.

Agent Notes - Fisher Hopper has not tested services, fixtures, fittings, central heating, gas and electrical systems. If in doubt, purchasers should seek professional advice. Items in these photographs may not be included in the sale of the property.

OFFER PROCEDURE
Fisher Hopper, as Agents in the sale of the property, will formally check the identification of prospective purchasers. In addition the purchaser will be required to provide information regarding the source of funding as part of our offer handling procedure.

FINANCIAL ADVICE
Free and no obligation mortgage advice is available on our website. Alternatively, please contact us to arrange a call from our mortgage broker.
Your home is at risk if you do not keep up the repayments on a mortgage or other loan secured on it. Written details available upon request

MARKET APPRAISALS
If you have a property or business which needs a market appraisal or valuation, our local knowledge, experience and coverage will ensure you get the best advice. Our Guild Referral Network of over 800 specially selected offices can provide this no obligation service anywhere in the country. Call or email now to let us get you moving.

INTRODUCERS FEES
Fisher Hopper Ltd receives and introducers fee from Napthens Solicitors of £100.00 + VAT for all successful introductions.

FISHER HOPPER
Fisher Hopper is a trading name for Fisher Hopper Limited, which is registered in England No 08514050. The registered office for the company is: 5 Battalion Court, Colburn Business Park, Catterick Garrison, England, DL9 4QN. Company Director: M. Alexander
The office address for Fisher Hopper is: 43 Main Street, Bentham, Lancaster, North Yorkshire LA2 7HJ.

FLOOR PLANS
Please note, floor plans are not to scale and are for illustration purposes only. Plans are produced using PlanUp.

Agent Details

Fisher Hopper, Bentham

01524 969618

Next Steps?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪