2 Bed Terraced House, Refurb/BRRR, Lancaster, LA1 3EZ, £170,000

Windermere Road, Freehold | A home with so much potential, LA1 3EZ - 4 views - 8 months ago

Sold STC
Refurb/BRRR
ROI: 2%
~68 m²
+8 photos

ValuationOvervalued

Sold Prices£100.5K - £261.5K
Sold Prices/m²£1.3K/m² - £3.3K/m²

 

 

Square Metres

~68.11 m²
Price/m²£2.5K/m²

Value Estimate

£139,899

 

 

End Value (After Refurb)

£173,750

Uplift in Value

+-3%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£42,500

Stamp Duty & Legal Fees

£6,600

Refurb Costs

£27,537

Bridging Loan Interest

£4,463

Total Cash In

£82,850

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£173,750

Mortgage (After Refinance)

£130,313

Mortgage LTV

75%

Cash Released

£2,813

Cash Left In

£80,037

Equity

£43,438

Rent Range

£641 - £1,647

Rent Estimate

£850

Running Costs/mo

£733

Cashflow/mo

£117

Cashflow/yr

£1,404

ROI

2%

Gross Yield

6%

Local Sold Prices

50 sold prices from £100.5K to £261.5K, average is £148.5K. £1.3K/m² to £3.3K/m², average is £2.1K/m².

PriceDateDistanceAddressBeds 
£175K01/230.05 mi89, Windermere Road, Lancaster, Lancashire LA1 3EZ2
£160K02/210.05 mi42, Windermere Road, Lancaster, Lancashire LA1 3EX2
£219K11/230.05 mi2, Windermere Road, Lancaster, Lancashire LA1 3EX2
£261.5K11/230.05 mi45, Windermere Road, Lancaster, Lancashire LA1 3EX2
£150K08/230.06 mi83, Grasmere Road, Lancaster, Lancashire LA1 3HB2
£155K03/230.08 mi12, Grasmere Road, Lancaster, Lancashire LA1 3HE2
£157K06/210.08 mi41, Grasmere Road, Lancaster, Lancashire LA1 3HE2
£179.9K12/200.08 mi43, Grasmere Road, Lancaster, Lancashire LA1 3HE2
£194.2K12/200.08 mi8, Rydal Road, Lancaster, Lancashire LA1 3HA2
£250K10/230.12 mi1, Dalton Road, Lancaster, Lancashire LA1 3PR2
£170K09/210.13 mi45, Park Road, Lancaster, Lancashire LA1 3EJ2
£154K12/200.13 mi34, Park Road, Lancaster, Lancashire LA1 3EJ2
£172K01/240.13 mi32, Park Road, Lancaster, Lancashire LA1 3EJ2
£138.5K02/210.14 mi6, Bond Street, Lancaster, Lancashire LA1 3ER2
£169.9K12/200.15 mi4, Parker Street, Lancaster, Lancashire LA1 3EP2
£165K01/230.17 mi20, Mill Street, Lancaster, Lancashire LA1 3PL2
£185K06/210.18 mi5, Garnet Street, Lancaster, Lancashire LA1 3PN2
£170K11/210.18 mi24, Garnet Street, Lancaster, Lancashire LA1 3PN2
£160K05/230.18 mi23, Garnet Street, Lancaster, Lancashire LA1 3PN2
£100.5K11/200.18 mi28, Mill Street, Lancaster, Lancashire LA1 3PL2
£147K01/230.19 mi18, Mill Street, Lancaster, Lancashire LA1 3PL2
£160K03/240.22 mi26, Nun Street, Lancaster, Lancashire LA1 3PJ2
£132K08/230.22 mi15, Melbourne Road, Lancaster, Lancashire LA1 3QB2
£134K03/230.24 mi54, Melrose Street, Lancaster, Lancashire LA1 3DL2
£135K03/240.24 mi10, Melrose Street, Lancaster, Lancashire LA1 3DL2
£129K10/230.24 mi38, Melrose Street, Lancaster, Lancashire LA1 3DL2
£130K12/230.24 mi6, Tarbet Street, Lancaster, Lancashire LA1 3DN2
£145K12/200.25 mi11, Kirkes Road, Lancaster, Lancashire LA1 3DP2
£117K04/210.26 mi7, Woodville Street, Lancaster, Lancashire LA1 3QD2
£178K03/210.26 mi7, Bath Mill Lane, Lancaster, Lancashire LA1 3QJ2
£145K09/230.27 mi16, Denis Street, Lancaster, Lancashire LA1 1QX2
£117.5K03/240.27 mi10, Denis Street, Lancaster, Lancashire LA1 1QX2
£108.7K10/230.28 mi27, St Peters Road, Lancaster, Lancashire LA1 3BS2
£210K02/230.28 mi6, Kirkes Road, Lancaster, Lancashire LA1 3DW2
£150K12/200.28 mi61, Kirkes Road, Lancaster, Lancashire LA1 3DW2
£102K03/230.28 mi25, Albion Street, Lancaster, Lancashire LA1 1DY2
£105K11/200.3 mi33, Perth Street, Lancaster, Lancashire LA1 3DR2
£142K06/230.3 mi15, Gregson Road, Lancaster, Lancashire LA1 3DH2
£121.5K05/210.3 mi41, Gregson Road, Lancaster, Lancashire LA1 3DH2
£163.5K01/240.3 mi4, Ayr Street, Lancaster, Lancashire LA1 3DT2
£131.4K03/210.3 mi1, Ayr Street, Lancaster, Lancashire LA1 3DT2
£117K04/210.3 mi13, Stirling Road, Lancaster, Lancashire LA1 3DE2
£189.9K05/210.31 mi48, Wyresdale Road, Lancaster, Lancashire LA1 3DU2
£126K05/230.31 mi5, Green Street, Lancaster, Lancashire LA1 1DZ2
£152K07/230.31 mi17, Dundee Street, Lancaster, Lancashire LA1 3DS2
£119K06/210.31 mi18, Dundee Street, Lancaster, Lancashire LA1 3DS2
£115K04/230.31 mi9, Dundee Street, Lancaster, Lancashire LA1 3DS2
£108.5K12/210.31 mi14, Dunkeld Street, Lancaster, Lancashire LA1 3DQ2
£127.5K11/210.31 mi29, Dunkeld Street, Lancaster, Lancashire LA1 3DQ2
£140K07/230.31 mi14, Dunkeld Street, Lancaster, Lancashire LA1 3DQ2

Local Rents

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

RentDateDistanceAddressBeds 
£77505/240.09 miDavidson Street, Lancaster2
£73001/250.15 mi-2
£89506/240.22 mi-2
£92505/240.22 miWhitbarrow Square, Lancaster, LA12
£92506/240.22 miWhitbarrow Square, Lancaster, LA12
£70003/240.26 mi-2
£85004/240.26 miSwallow Wharf, Troutbeck Road, Lancaster2
£75005/240.26 miGregson Road, Lancaster, LA12
£75005/240.29 miSt Peters Road Lancaster2
£67504/240.29 miGregson Road, Lancaster2
£1,50004/240.29 miQuernmore Road, Lancaster, Lancashire, LA22
£70012/240.3 mi-2
£85004/240.3 miGregson Road, Lancaster2
£75002/250.31 mi-2
£75004/240.31 miElgin Street, Lancaster2
£72502/250.32 mi-2
£65004/240.34 miArgyle Street, Lancaster2
£64105/240.35 miBulk Street, Lancaster2
£65905/240.36 miGreenfield Court, Quarry Road, Lancaster, Lancashire, LA12
£65006/240.37 mi-2
£65005/240.37 miQuarry Mount Mews, Lancaster, LA12
£75004/240.41 miBridge Square Apartments, Kingsway, Lancaster, LA12
£75005/240.41 miBridge Square Apartments, Kingsway, Lancaster, LA12
£1,10004/240.41 miThe Roundhouse, Robert Street, LA12
£87505/240.43 miNelson Street, Lancaster2
£90004/240.43 miAalborg Place, Court View House, LA12
£85004/240.45 mi-2
£75006/240.45 mi-2
£75005/240.45 miCromwell Building, Lancaster, LA12
£85002/250.45 mi-2
£95012/240.46 mi-2
£1,00004/240.47 mi-2
£72512/240.49 mi-2
£70003/250.5 mi-2
£75004/240.5 miEastham Street, Lancaster, LA12
£70005/240.5 miEastham Street, Lancaster, LA12
£80004/240.51 miThe Colonnade, Lancaster, LA12
£80005/240.51 mi-2
£65004/240.51 miWestham Street, Lancaster2
£70004/240.51 miThurnham Street, City Centre, Lancaster, LA12
£75006/240.52 miWestham Street, Lancaster, LA12
£72505/240.52 miWestham Street, Lancaster2
£75005/240.54 miWater Street, Lancaster, LA12
£80005/240.54 miSt. Andrews Close, Lancaster2
£71505/240.57 mi-2
£1,05005/240.58 miNightingale House, LA1 4JT2
£70004/240.58 miEarl Street, Lancaster, LA12
£1,10004/240.59 miThe Residence, South Lancaster, LA12
£1,49505/240.61 mi-2
£1,64703/250.61 mi-2

Local Area Statistics

Population in LA1

52,095

Population in Lancaster

74,075

Town centre distance

1.10 miles away

Nearest school

0.20 miles away

Nearest train station

0.82 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+34%

Sales demand

Balanced market

Capital growth (5yrs)

+16%

Property History

Price changed to £170,000

January 27, 2025

Listed for £180,000

August 20, 2024

Floor Plans

Description

  • A bay fronted period home +
  • Two double bedrooms +
  • Two good sized reception rooms +
  • Great potential for modernisation +
  • Large garden, well maintained +
  • Many original features +
  • No onward chain +

Location Windermere Road in Lancaster is a pleasant residential street offering a mix of traditional and modern homes. It’s conveniently located near local amenities, including shops, schools, and parks, while also providing easy access to Lancaster's city centre. The area is well-connected by public transport, making it ideal for families and commuters. Property description This homely two-bedroom period home, dating back to the 1850s, offers a unique opportunity for renovation and personalisation. Although in need of updating, it boasts many original features. The slate roof has been reroofed (majority in 2008). The property is uPVC double glazed and has gas central heating, with radiators in some rooms. The ground floor comprises a hallway, a bay-fronted lounge with an inset Dimplex electric fire, a dining room, and part of the kitchen fitted in the 1950s. Stone steps from the kitchen lead down to a cellar, offering additional storage. Upstairs, you'll find two bedrooms and a bathroom with a coloured three-piece suite and a new shower. The 80-foot rear garden is a delightful feature, providing ample space for outdoor enjoyment. Please note, the property requires rewiring and possibly plumbing work. Additional information:-

  • Council tax band A

  • uPVC double glazed

  • Re-roofed in 2008

  • CHAIN FREE - AVAILABLE NOW

EPC Rating: E

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 💪