3 Bed Semi-Detached House, Refurb/BRRR, Morecambe, LA4 5UJ, £185,000

Branksome Drive, Morecambe | Well presented generous home, LA4 5UJ - 3 views - 8 months ago

Sold STC
Refurb/BRRR
ROI: 3%
~93 m²
+10 photos

ValuationOvervalued

Sold Prices£85K - £377.5K
Sold Prices/m²£1K/m² - £4.7K/m²

 

 

Square Metres

~93 m²
Price/m²£2K/m²

Value Estimate

£170,629

 

 

End Value (After Refurb)

£183,765

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£46,250

Stamp Duty & Legal Fees

£6,750

Refurb Costs

£37,588

Bridging Loan Interest

£4,856

Total Cash In

£97,194

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£183,765

Mortgage (After Refinance)

£137,824

Mortgage LTV

75%

Cash Left In

£97,194

Equity

£45,941

Rent Range

£725 - £2,250

Rent Estimate

£1,028

Running Costs/mo

£800

Cashflow/mo

£228

Cashflow/yr

£2,738

ROI

3%

Gross Yield

7%

Local Sold Prices

50 sold prices from £85K to £377.5K, average is £160.8K. £1K/m² to £4.7K/m², average is £1.9K/m².

PriceDateDistanceAddressBeds 
£85K06/210.05 mi2, Kentmere Grove, Morecambe, Lancashire LA4 5UF3
£115.8K12/200.1 mi65, Christie Avenue, Morecambe, Lancashire LA4 5UP3
£150K06/210.11 mi259, Lancaster Road, Morecambe, Lancashire LA4 5TN3
£123K02/210.11 mi269, Lancaster Road, Morecambe, Lancashire LA4 5TN3
£110K11/200.11 mi105, Christie Avenue, Morecambe, Lancashire LA4 5UR3
£95K05/210.14 mi22, Haweswater Place, Morecambe, Lancashire LA4 5TZ3
£167.5K04/210.14 mi246, Lancaster Road, Morecambe, Lancashire LA4 5TW3
£110K07/210.14 mi42, Ullswater Avenue, Morecambe, Lancashire LA4 5TY3
£155K07/230.14 mi43, Ullswater Avenue, Morecambe, Lancashire LA4 5TY3
£125K10/210.15 mi28, Cartmel Place, Morecambe, Lancashire LA4 5UT3
£110K03/210.16 mi2, St Michaels Grove, Morecambe, Lancashire LA4 5SF3
£151K11/200.16 mi3, Lathom Avenue, Morecambe, Lancashire LA4 5XR3
£232.5K05/230.16 mi11a, Lathom Avenue, Morecambe, Lancashire LA4 5XR3
£239.2K02/230.18 mi38, Lathom Grove, Morecambe, Lancashire LA4 5XT3
£176.5K11/210.18 mi33, Lathom Grove, Morecambe, Lancashire LA4 5XT3
£178K03/210.2 mi30, Thonock Road, Morecambe, Lancashire LA4 4RG3
£377.5K06/210.2 mi119, Broadway, Morecambe, Lancashire LA4 5YA3
£370K03/210.2 mi101, Broadway, Morecambe, Lancashire LA4 5YA3
£187K01/210.2 mi287, Lancaster Road, Morecambe, Lancashire LA4 5TP3
£135K07/210.21 mi17, Brendjean Road, Morecambe, Lancashire LA4 5SE3
£185K02/230.21 mi38, Brendjean Road, Morecambe, Lancashire LA4 5SE3
£205.5K01/210.21 mi18, Lathom Avenue, Morecambe, Lancashire LA4 5XS3
£211.1K11/210.22 mi15, Lathom Avenue, Morecambe, Lancashire LA4 5XS3
£261K08/230.22 mi29, Gringley Road, Morecambe, Lancashire LA4 4RW3
£267K08/230.25 mi22, Burlington Avenue, Morecambe, Lancashire LA4 5XL3
£163K04/210.25 mi16, St Oggs Road, Morecambe, Lancashire LA4 4RJ3
£319.9K12/200.25 mi89, Broadway, Morecambe, Lancashire LA4 5XX3
£172.5K01/210.26 mi20, Borrowdale Grove, Morecambe, Lancashire LA4 5XJ3
£175K05/230.26 mi9, Lowlands Road, Morecambe, Lancashire LA4 5SB3
£160K01/230.27 mi20, Lowlands Road, Morecambe, Lancashire LA4 5SA3
£139K02/210.28 mi12, Rochester Avenue, Morecambe, Lancashire LA4 4RH3
£182K12/200.28 mi26, Rochester Avenue, Morecambe, Lancashire LA4 4RH3
£295K03/210.28 mi76, Broadway, Morecambe, Lancashire LA4 5XY3
£130K03/230.28 mi12, Mardale Avenue, Morecambe, Lancashire LA4 5XF3
£110K08/210.32 mi15a, Birklands Avenue, Morecambe, Lancashire LA4 5SH3
£172K12/200.33 mi10, Warley Avenue, Morecambe, Lancashire LA3 3AR3
£161.5K03/230.34 mi6, Netherlands Road, Morecambe, Lancashire LA4 5SJ3
£229K03/210.34 mi23, Lynden Avenue, Morecambe, Lancashire LA4 6TF3
£106K12/200.34 mi19, Maylands Square, Morecambe, Lancashire LA4 5RY3
£145K05/230.34 mi14, Maylands Square, Morecambe, Lancashire LA4 5RY3
£146K06/230.34 mi20, Maylands Square, Morecambe, Lancashire LA4 5RY3
£143K12/220.34 mi5, Maylands Square, Morecambe, Lancashire LA4 5RY3
£136K12/220.35 mi24, Maylands Square, Morecambe, Lancashire LA4 5RY3
£250K02/230.35 mi17, Homfray Avenue, Morecambe, Lancashire LA3 3AG3
£259.9K09/210.35 mi2, Elkin Road, Morecambe, Lancashire LA4 5RN3
£120K04/210.36 mi16, Langdale Road, Morecambe, Lancashire LA4 5XA3
£158K03/210.36 mi6, The Coppice, Morecambe, Lancashire LA4 6TS3
£165K04/210.36 mi93, Wingate Avenue, Morecambe, Lancashire LA4 4SN3
£160K04/210.36 mi19, South Avenue, Morecambe, Lancashire LA4 5RJ3
£150K11/200.36 mi12, Bowfell Avenue, Morecambe, Lancashire LA4 5XD3

Local Rents

25 rents from £725/mo to £2.3K/mo, average is £895/mo.

RentDateDistanceAddressBeds 
£90004/240.42 miWhitby Road, Morecambe3
£85006/240.51 miHampsfell Drive, Westgate, Morecambe, Lancashire3
£1,30005/240.54 miLichfield Avenue, Bare3
£90004/240.57 miMichaelson Avenue, Morecambe, LA43
£92504/240.58 miHampsfell Drive, Westgate3
£95004/240.62 miThornton Road, Morecambe3
£89504/240.65 miHestham Avenue, Morecambe3
£90005/240.66 miDallas Road, Torrisholme, LA43
£2,25004/240.67 mi-3
£1,95001/250.67 mi-3
£80008/240.69 miWestover Street, Morecambe, LA43
£95006/240.7 miKayswell Road, Torrisholme, Morecambe3
£77504/240.72 miThornton Road, Morecambe, LA43
£1,50007/240.74 miEssex Road, Torrisholme3
£85002/250.77 mi-3
£82506/240.83 miWyre Close, Grosvenor Park, Lancaster, LA33
£87502/250.84 mi-3
£1,45007/240.85 miMarine Road East, Morecambe, LA43
£75002/240.87 mi-3
£72508/240.87 miClarence Street, Lancaster, Morecambe3
£85005/240.94 miNelson St, Morecambe, LA43
£89504/250.98 mi-3
£85004/241.04 miGregareth Close, Lancaster3
£75005/241.22 miWest End, Morecambe, LA43
£75005/241.22 miWest End, Morecambe, LA43

Local Area Statistics

Population in LA4

26,244

Population in Morecambe

50,836

Town centre distance

0.52 miles away

Nearest school

0.20 miles away

Nearest train station

0.72 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+8%

Sales demand

Balanced market

Capital growth (5yrs)

+28%

Property History

Listed for £185,000

August 15, 2024

Floor Plans

Description

  • Dining room offers great potential to extend +
  • White country style kitchen units, tiled walls. Neff gas hob and electric oven +
  • 2 double bedrooms, 1 generous single +
  • Wet shower room, low maintenance shower panels, chrome towel warmer +
  • Neutral decor throughout +
  • Fabulous garden with concrete outhouse +
  • Loft partially boarded with ladder access +
  • Utility meters located under stairs +

Location Branksome Drive is a desirable residential area known for its leafy surroundings and family-friendly atmosphere. The neighbourhood features well-maintained homes, peaceful streets, and proximity to local amenities, including parks, schools, and shops. Its convenient location offers easy access to nearby towns and transport links, making it a popular choice for residents. Property description Welcome to this bright and airy three-bedroom semi-detached home, offering comfort and potential in equal measure. Lovingly maintained, the property features a block-paved driveway, double glazing throughout, and the added benefit of solar panels installed by A Shader Green, ensuring energy efficiency. While some modernisation may be desired, the house is immediately liveable, with two inviting reception rooms and a well-appointed kitchen. The bathroom has been thoughtfully converted into a wet room, complete with a practical glass shower screen. One of the highlights is the surprisingly spacious third bedroom, offering flexibility for various uses. Outside, you'll find a large, serene garden, perfect for relaxation or entertaining. With a pond and mature trees surrounding the space, it’s a peaceful retreat from the bustle of everyday life. This property is a wonderful opportunity to create your dream home in a desirable location. Additional information

  • Council tax band A

  • Modern uPVC double glazing

  • Gas central heating - boiler located in kitchen

  • Off road parking

  • Outside tap

  • Available now - NO CHAIN

EPC Rating: C

Agent Details

JD Gallagher Estate Agents, Lancaster

01524 967550

Next Steps?

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