4 Bed Terraced House, Refurb/BRRR, Morecambe, LA3 2QW, £265,000

Glen View Crescent, Heysham | Four bedroom home in a great location, LA3 2QW - 7 months ago

Refurb/BRRR

ROI: 1%

~109 m²

+14 photos

ValuationOvervalued

Sold Prices	£175K - £490K
Sold Prices/m²	£1.3K/m² - £4.6K/m²

Square Metres	~108.76 m²
Price/m²	£2.4K/m²
Value Estimate	£232,567£232,567

End Value (After Refurb)	£235,000£235,000

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£66,250£66,250
Stamp Duty & Legal Fees	£15,200£15,200
Refurb Costs	£43,972£43,972
Bridging Loan Interest	£6,956£6,956
Total Cash In	£134,128£134,128

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£235,000£235,000
Mortgage (After Refinance)	£176,250£176,250
Mortgage LTV	75%75%
Cash Left In	£134,128£134,128
Equity	£58,750£58,750
Rent Range	£775 - £1,450£775 - £1,450
Rent Estimate	£1,063
Running Costs/mo	£967£967
Cashflow/mo	£96£96
Cashflow/yr	£1,152£1,152
ROI	1%1%
Gross Yield	5%5%

Local Sold Prices

29 sold prices from £175K to £490K, average is £260K. £1.3K/m² to £4.6K/m², average is £2.1K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£307.5K	05/21	0.01 mi	24, Glen View Crescent, Heysham, Morecambe, Lancashire LA3 2QW	-	-	4	Terraced House
£319.9K	10/21	0.12 mi	15, Heysham Hall Drive, Heysham, Morecambe, Lancashire LA3 2QX	£2,666	120	4	Semi-Detached House
£268K	05/21	0.14 mi	2, Kintyre Way, Heysham, Morecambe, Lancashire LA3 2YF	£2,552	105	4	Detached House
£339.9K	09/22	0.17 mi	23, Heysham Park, Heysham, Morecambe, Lancashire LA3 2UD	-	-	4	Detached House
£220K	10/22	0.26 mi	10, Carr Lane, Heysham, Morecambe, Lancashire LA3 2RL	£2,615	84	4	Terraced House
£475K	03/21	0.28 mi	1, The Headlands, Heysham, Morecambe, Lancashire LA3 2RX	£2,047	232	4	Detached House
£490K	06/21	0.37 mi	14, Longlands Lane, Heysham, Morecambe, Lancashire LA3 2NS	£3,161	155	4	Detached House
£210K	02/21	0.39 mi	9, Goldcrest Close, Heysham, Morecambe, Lancashire LA3 2GS	£2,100	100	4	Semi-Detached House
£275K	09/21	0.4 mi	3, Saxon Heights, Heysham, Morecambe, Lancashire LA3 2TY	£2,477	111	4	Detached House
£185K	05/21	0.41 mi	16, Woborrow Road, Heysham, Morecambe, Lancashire LA3 2PN	-	-	4	Terraced House
£182K	02/21	0.41 mi	18, Woborrow Road, Heysham, Morecambe, Lancashire LA3 2PN	£1,291	141	4	Terraced House
£308K	06/21	0.41 mi	19, Longlands Lane, Heysham, Morecambe, Lancashire LA3 2NR	£2,879	107	4	Detached House
£260K	07/23	0.42 mi	6, Eardley Road, Heysham, Morecambe, Lancashire LA3 2PH	£1,757	148	4	Terraced House
£260K	07/23	0.42 mi	6, Eardley Road, Heysham, Morecambe, Lancashire LA3 2PH	£1,757	148	4	Terraced House
£175K	06/21	0.43 mi	27, Robin Crescent, Heysham, Morecambe, Lancashire LA3 2WG	-	-	4	Terraced House
£195K	09/21	0.47 mi	39, Brambling Drive, Heysham, Morecambe, Lancashire LA3 2LH	£1,789	109	4	Terraced House
£255K	04/21	0.47 mi	45, Brambling Drive, Heysham, Morecambe, Lancashire LA3 2LH	£1,809	141	4	Detached House
£267.5K	11/20	0.53 mi	10, Thistle Break, Heysham, Morecambe, Lancashire LA3 2FJ	£2,267	118	4	Detached House
£267.5K	02/21	0.54 mi	12, Tern Grove, Heysham, Morecambe, Lancashire LA3 2WH	£1,911	140	4	Detached House
£237K	11/20	0.56 mi	20, Nightingale Close, Heysham, Morecambe, Lancashire LA3 2FW	£2,177	109	4	Detached House
£209K	07/21	0.59 mi	8, Knowlys Avenue, Heysham, Morecambe, Lancashire LA3 2PA	£1,509	138	4	Semi-Detached House
£274K	10/21	0.6 mi	12, Hurstleigh Drive, Heysham, Morecambe, Lancashire LA3 2HY	£2,446	112	4	Detached House
£185.5K	12/20	0.68 mi	17, Chedworth Avenue, Heysham, Morecambe, Lancashire LA3 2HL	£1,722	108	4	Detached House
£187.5K	11/20	0.69 mi	5, Edgcott Close, Heysham, Morecambe, Lancashire LA3 2HX	£1,875	100	4	Semi-Detached House
£252.5K	12/22	0.7 mi	9, Edgcott Close, Heysham, Morecambe, Lancashire LA3 2HX	£2,414	105	4	Detached House
£190K	10/21	0.72 mi	17, Threshfield Avenue, Heysham, Morecambe, Lancashire LA3 2DU	-	-	4	Semi-Detached House
£180K	01/21	0.74 mi	10, Burnsall Avenue, Heysham, Morecambe, Lancashire LA3 2DT	£1,513	119	4	Semi-Detached House
£479.9K	06/23	0.87 mi	39, Twemlow Parade, Heysham, Morecambe, Lancashire LA3 2AJ	£4,571	105	4	Semi-Detached House
£295K	06/23	0.91 mi	299, Heysham Road, Heysham, Morecambe, Lancashire LA3 2BA	£4,041	73	4	Semi-Detached House

Local Rents

11 rents from £775/mo to £1.4K/mo, average is £950/mo.

Rent	Date	Distance	Address	Beds	Type
£1,100	05/24	0.14 mi	Delamere Avenue, Heysham	5	House
£775	04/24	0.15 mi	Delamere Avenue, Heysham, Morecambe	3	Flat
£775	06/24	0.15 mi	Delamere Avenue, Heysham, Morecambe	3	House
£900	10/24	0.32 mi	-	3	Semi-Detached House
£1,400	05/24	0.41 mi	-	4	Detached House
£1,450	01/25	0.41 mi	-	4	Detached House
£1,400	02/25	0.41 mi	-	4	Detached House
£795	08/24	0.43 mi	Robin Crescent, Windermere Park, Heysham	3	Semi-Detached House
£850	04/24	0.45 mi	Dunlin Avenue, Heysham, Morecambe	3	Flat
£950	08/24	0.48 mi	Mossgate Park, Heysham, Morecambe	3	House
£1,300	04/24	0.55 mi	Kingfisher Drive, Heysham, Morecambe	4	Flat

Local Area Statistics

Population in LA3	24,58724,587
Population in Morecambe	50,83650,836
Town centre distance	2.52 miles away2.52 miles away
Nearest school	0.30 miles away0.30 miles away
Nearest train station	0.76 miles away0.76 miles away

Rental growth (12m)	-2%-2%
Sales demand	Buyer's marketBuyer's market
Capital growth (5yrs)	+31%+31%

Property History

Price changed to £265,000

February 20, 2025

Listed for £275,000

August 24, 2024

Floor Plans

Description

Extended Semi-Detached House +
Shower Room & Ground Floor W.C. +
Integral Garage & Utility Room +
Off-street Parking x3 Vehicles +
Private Back Garden +

On a quiet street in Heysham we find 21 Glen View Crescent. An extended semi-detached house that offers lots of potential. Expanded above the attached garage this home now boasts a ground floor W.C., a utility room and a dual aspect fourth bedroom with small balcony. While the home is in need of some modernising in places it provides a wonderful opportunity to put your own stamp on things. There are two reception room to choose from and a central compact kitchen, we can imagine many people would like to open this up to the dining room. The three original bedrooms are all really good sizes with two great double bedrooms and the third being a single rather than a “box” room. There is a shower room with a double shower to suit more modern tastes, the nearly new combi boiler is also hidden in the airing cupboard. Theis home also benefits from what it offers on the outside. The front has been paved meaning you have lots of off road parking as well as the garage. To the rear we have a private garden with patio and lawn, fully secured so its great for small children or pets.

EPC Rating: D

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 💪

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