2 Bed Flat, Refurb/BRRR, Lancaster, LA1 3QX, £179,950

8 Samuels Court, Lancaster, LA1 3QX - 8 months ago

Leasehold
BTL
Refurb/BRRR
ROI: 1%
~60 m²
+15 photos

ValuationOvervalued

Sold Prices£47K - £210K
Sold Prices/m²£915/m² - £2.8K/m²

 

 

Square Metres

~59.67 m²
Price/m²£3K/m²

Value Estimate

£125,429

 

 

End Value (After Refurb)

£178,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£44,988

Stamp Duty & Legal Fees

£11,297

Refurb Costs

£24,125

Bridging Loan Interest

£4,724

Total Cash In

£86,882

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£178,000

Mortgage (After Refinance)

£133,500

Mortgage LTV

75%

Cash Left In

£86,882

Equity

£44,500

Rent Range

£641 - £1,647

Rent Estimate

£851

Running Costs/mo

£746

Cashflow/mo

£105

Cashflow/yr

£1,255

ROI

1%

Gross Yield

6%

Local Sold Prices

50 sold prices from £47K to £210K, average is £117.3K. £915/m² to £2.8K/m², average is £2.2K/m².

PriceDateDistanceAddressBeds 
£118K12/200.25 mi2, Swan Yard, Lancaster, Lancashire LA1 3EQ2
£118K12/200.25 mi2, Swan Yard, Lancaster, Lancashire LA1 3EQ2
£140K03/210.25 mi1, Swan Yard, Lancaster, Lancashire LA1 3EQ2
£74K03/230.35 miFlat 42, St. Leonards Court, Alfred Street, Lancaster, Lancashire LA1 1FD2
£82.5K01/240.35 miSt. Leonards Court, Flat 33, Alfred Street, Lancaster, Lancashire LA1 1FD2
£47K12/200.35 miFlat 31, St. Leonards Court, Alfred Street, Lancaster, Lancashire LA1 1FD2
£70.5K01/210.35 miFlat 43, St. Leonards Court, Alfred Street, Lancaster, Lancashire LA1 1FD2
£119K10/200.36 mi6, Swallow Wharf, Lancaster, Lancashire LA1 3JA2
£105K09/210.38 mi35, Tower Court, Lancaster, Lancashire LA1 4XH2
£108K12/220.43 mi2, Grebe Wharf, Lancaster, Lancashire LA1 1EJ2
£190K12/220.47 miApartment 8, Royal View, Aldcliffe Road, Lancaster, Lancashire LA1 1AQ2
£208K02/210.48 miApartment 6, Tudor Court, Henry Street, Lancaster, Lancashire LA1 1AR2
£140K01/240.51 mi36, The Colonnade, Lancaster, Lancashire LA1 3FP2
£117.5K12/200.51 mi32, The Colonnade, Lancaster, Lancashire LA1 3FP2
£131K04/210.51 mi16, The Colonnade, Lancaster, Lancashire LA1 3FP2
£90K11/200.52 mi38, Spinners Court, Lancaster, Lancashire LA1 1RY2
£130K04/230.52 mi64, Spinners Court, Lancaster, Lancashire LA1 1RY2
£150K06/210.53 miFlat 4, Windermere House, Middle Street, Lancaster, Lancashire LA1 1JZ2
£120K06/230.54 mi7, Charles Street, Lancaster, Lancashire LA1 4UU2
£115K05/230.54 mi11, Charles Street, Lancaster, Lancashire LA1 4UU2
£75K01/230.54 mi12, Thirlmere Court, Lancaster, Lancashire LA1 3LQ2
£70K05/210.56 mi9, Monthall Rise, Lancaster, Lancashire LA1 3HX2
£81K05/230.56 mi8, Keswick Court, Lancaster, Lancashire LA1 3LH2
£69.5K10/210.56 mi10, Monthall Rise, Lancaster, Lancashire LA1 3HX2
£54K03/210.56 mi5, Monthall Rise, Lancaster, Lancashire LA1 3HX2
£125K12/210.57 miFlat 9, Highmount House, High Street, Lancaster, Lancashire LA1 1LA2
£134K08/230.57 mi10, Waterside, Lancaster, Lancashire LA1 1AY2
£148K10/230.57 mi23, Waterside, Lancaster, Lancashire LA1 1AY2
£155K09/210.57 mi25, Waterside, Lancaster, Lancashire LA1 1AY2
£117K05/230.57 mi44, Waterside, Lancaster, Lancashire LA1 1AY2
£150K02/210.57 mi22, Waterside, Lancaster, Lancashire LA1 1AY2
£83K02/230.59 mi9, Herlebeck Rise, Lancaster, Lancashire LA1 3HU2
£67K12/220.59 mi3, Herlebeck Rise, Lancaster, Lancashire LA1 3HU2
£145K08/230.61 mi10, St Andrews Close, Lancaster, Lancashire LA1 3RL2
£132.5K05/210.61 mi12, St Andrews Close, Lancaster, Lancashire LA1 3RL2
£104K11/220.68 mi21, Masonfield Crescent, Lancaster, Lancashire LA1 3SR2
£98K05/210.68 mi17, St James Court, Lancaster, Lancashire LA1 1UN2
£50K06/210.69 miFlat 3c, Frankland House, Mainway, Lancaster, Lancashire LA1 2BA2
£70K01/240.69 miFrankland House, Flat 3c, Mainway, Lancaster, Lancashire LA1 2BA2
£101K12/230.71 mi41, Ushers Meadow, Lancaster, Lancashire LA1 1FB2
£210K06/230.72 miFlat 1, Kelne House, Castle Park Mews, Lancaster, Lancashire LA1 1WA2
£160K07/210.72 miFlat 5, Chennell House, Castle Park Mews, Lancaster, Lancashire LA1 1WA2
£51K07/210.72 miFlat 2b, Ellershaw House, Mainway, Lancaster, Lancashire LA1 2BD2
£92K12/200.73 mi10, Carr House Lane, Lancaster, Lancashire LA1 1SW2
£159.9K01/230.82 miFlat 2, Brunton House, Scotforth Road, Lancaster, Lancashire LA1 4TU2
£100K04/230.82 miFlat 12, Brunton House, Scotforth Road, Lancaster, Lancashire LA1 4TU2
£80K06/210.86 mi32 The Hastings, Scotforth Road, Lancaster, Lancashire LA1 4TF2
£125K08/230.86 mi34 The Hastings, Scotforth Road, Lancaster, Lancashire LA1 4TF2
£125K02/210.88 mi2, Chiltern Court, Lancaster, Lancashire LA1 4TP2
£120K08/230.88 mi1, Chiltern Court, Lancaster, Lancashire LA1 4TP2

Local Rents

50 rents from £641/mo to £1.6K/mo, average is £750/mo.

RentDateDistanceAddressBeds 
£73001/250.05 mi-2
£77505/240.07 miDavidson Street, Lancaster2
£75005/240.1 miGregson Road, Lancaster, LA12
£70003/240.1 mi-2
£67504/240.13 miGregson Road, Lancaster2
£75002/250.14 mi-2
£85004/240.14 miGregson Road, Lancaster2
£75004/240.15 miElgin Street, Lancaster2
£70012/240.15 mi-2
£72502/250.16 mi-2
£65004/240.18 miArgyle Street, Lancaster2
£75005/240.19 miSt Peters Road Lancaster2
£65006/240.2 mi-2
£65005/240.2 miQuarry Mount Mews, Lancaster, LA12
£65905/240.21 miGreenfield Court, Quarry Road, Lancaster, Lancashire, LA12
£89506/240.23 mi-2
£92505/240.23 miWhitbarrow Square, Lancaster, LA12
£92506/240.23 miWhitbarrow Square, Lancaster, LA12
£64105/240.28 miBulk Street, Lancaster2
£1,10004/240.3 miThe Roundhouse, Robert Street, LA12
£1,00004/240.3 mi-2
£90004/240.31 miAalborg Place, Court View House, LA12
£87505/240.32 miNelson Street, Lancaster2
£72512/240.33 mi-2
£70003/250.34 mi-2
£75004/240.34 miEastham Street, Lancaster, LA12
£70005/240.34 miEastham Street, Lancaster, LA12
£80005/240.35 mi-2
£65004/240.35 miWestham Street, Lancaster2
£72505/240.36 miWestham Street, Lancaster2
£75006/240.36 miWestham Street, Lancaster, LA12
£85004/240.36 miSwallow Wharf, Troutbeck Road, Lancaster2
£70004/240.39 miThurnham Street, City Centre, Lancaster, LA12
£85004/240.41 mi-2
£75006/240.41 mi-2
£75005/240.41 miCromwell Building, Lancaster, LA12
£1,50004/240.41 miQuernmore Road, Lancaster, Lancashire, LA22
£85002/250.42 mi-2
£95012/240.43 mi-2
£1,05005/240.44 miNightingale House, LA1 4JT2
£77505/240.47 miSouth Road, Lancaster, LA12
£1,49505/240.48 mi-2
£1,64703/250.48 mi-2
£1,10005/240.48 miRoyal View, Knight's Bridge Apartments, Lancaster, LA12
£80004/240.51 miThe Colonnade, Lancaster, LA12
£75004/240.52 miBridge Square Apartments, Kingsway, Lancaster, LA12
£75005/240.52 miBridge Square Apartments, Kingsway, Lancaster, LA12
£75005/240.52 miWater Street, Lancaster, LA12
£1,20004/240.53 miWindermere House, Middle St, Lancaster, LA12
£1,20005/240.54 mi-2

Local Area Statistics

Population in LA1

52,095

Population in Lancaster

74,075

Town centre distance

0.95 miles away

Nearest school

0.20 miles away

Nearest train station

0.75 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+34%

Sales demand

Balanced market

Capital growth (5yrs)

+16%

Property History

Price changed to £179,950

April 1, 2025

Price changed to £189,950

January 11, 2025

Listed for £195,000

August 14, 2024

Floor Plans

Description

  • NO CHAIN +
  • LEASEHOLD +
  • GRADE II LISTED BUILDING +
  • GROUND FLOOR APARTMENT +
  • TWO BEDROOMS +
  • OPEN PLAN LOUNGE /DINING AREA +
  • GLORIOUS PRIVATE GARDENS +
  • GATED SECURE PARKING +
  • GREAT INVESTMENT FOR A BUY TO LET +
  • CLOSE TO THE CITY CENTRE +

NO ONWARD CHAIN

Stunning Grade II Listed Ground Floor Apartment in a Historic Renovation

Nestled in a beautifully renovated former school building from 1851, this Grade II listed apartment combines the charm of the past with the convenience of modern living. Located just a few minutes walk from Lancaster city centre, this ground-floor apartment offers easy access to iconic landmarks like Lancaster Priory, Lancaster Castle and Willamson Park.

Property Highlights:

Secure Gated Access: Experience both security and privacy with gated pedestrian and vehicular access, ensuring a safe and tranquil living environment.

Historic Character: As part of a tastefully renovated former school, this property retains its historical charm while providing all the comforts of contemporary living.
Spectacular Views: Situated on the ground floor, the apartment boasts wonderful views over the meticulously maintained gardens, providing a serene backdrop to your home.
Prime Location: Enjoy the benefits of city living with a tranquil residential feel. The apartment's location offers easy access to local amenities, cultural landmarks, and public transportation, making it ideal for professionals, retirees, or anyone seeking a blend of urban convenience and historical charm.
Apartment Features:

Spacious Living Areas: The open-plan design maximizes space and natural light, creating an inviting atmosphere perfect for relaxation and entertainment.
Modern Conveniences: Fully equipped with the latest appliances and fixtures, the kitchen and bathrooms provide functionality without compromising style.
Dedicated Parking: Secure and private parking adds an extra layer of convenience, particularly valuable in such a central location.
This apartment is perfect for those who appreciate the historical significance and architectural beauty of a listed building but do not want to sacrifice modern amenities.

Entrance Hallway - Walk-in storage cupboard, electric radiator, aminate floor.

Open Plan Lounge/Dining Area - Beautiful open-plan lounge dining room with glorious views over the garden, double-glazed patio doors, laminate floor, electric radiator and step up to the kitchen.

Kitchen - Double-glazed window to the front, range of matching wall and base units, stainless steel sink, plumbing for washing machine, space for fridge/freezer, four plate electric hob and extractor hood, electric oven, tiled floor.

Bedroom One - Double-glazed window with secondary glazing with views over the garden, built-in wardrobes, carpeted floor, electric radiator.

Bedroom Two - Double-glazed window to the rear, built-in wardrobes, carpeted floor, electric radiator.

Bathroom - Bath with thermostatic shower, vanity unit with inset wash hand basin, non-slip floor, heated towel rail, extractor fan, W.C.

Garden - Enclosed rear garden with a beautiful array of flowers trees and shrubs, a stone feature wall, patio area and gate to access the side.

Useful Information - Council Tax Band (C ) £2007.16
Tenure Leasehold
999 years,
Starting August 2006,
Ending January 3004
980 Remaining
Management company Parkinsons

Service charge £1,512.00 per annum, £126.00 per month

Secure parking with an allocated parking space & visitor parking.
Communal garden area for washing lines.
Bike shed
No chain
Pets are allowed as long as they do not cause annoyance to other residents.

Agent Details

Mighty House, Lancaster

01524 967572

Next Steps?

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