2 Bed Terraced House, Refurb/BRRR, Lancaster, LA1 2AF, £119,950

28 Earl Street, Lancaster, LA1 2AF - 12 views - 7 months ago

Refurb/BRRR
ROI: 5%
~68 m²
+7 photos

ValuationUndervalued

Sold Prices£73.9K - £250K
Sold Prices/m²£1K/m² - £2.9K/m²

 

 

Square Metres

~68.11 m²
Price/m²£1.8K/m²

Value Estimate

£125,284

 

 

End Value (After Refurb)

£122,860

Uplift in Value

+-2%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£29,988

Stamp Duty & Legal Fees

£4,950

Refurb Costs

£27,537

Bridging Loan Interest

£3,149

Total Cash In

£67,374

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£122,860

Mortgage (After Refinance)

£92,145

Mortgage LTV

75%

Cash Released

£2,183

Cash Left In

£65,191

Equity

£30,715

Rent Range

£600 - £1,200

Rent Estimate

£847

Running Costs/mo

£573

Cashflow/mo

£274

Cashflow/yr

£3,284

ROI

5%

Gross Yield

8%

Local Sold Prices

50 sold prices from £73.9K to £250K, average is £124.5K. £1K/m² to £2.9K/m², average is £1.8K/m².

PriceDateDistanceAddressBeds 
£128.5K01/230 mi17, Earl Street, Lancaster, Lancashire LA1 2AF2
£145K02/230 mi27, Earl Street, Lancaster, Lancashire LA1 2AF2
£107.5K01/210 mi33, Earl Street, Lancaster, Lancashire LA1 2AF2
£110K12/200 mi38, Earl Street, Lancaster, Lancashire LA1 2AF2
£118.5K10/230 mi49, Earl Street, Lancaster, Lancashire LA1 2AF2
£120K10/230 mi15, Earl Street, Lancaster, Lancashire LA1 2AF2
£121.5K03/240.09 mi26, Lune Terrace, Lancaster, Lancashire LA1 2AQ2
£138.9K06/230.22 mi5, St Georges Quay, Lancaster, Lancashire LA1 1HL2
£140K03/230.24 mi29, Bulk Road, Lancaster, Lancashire LA1 1DN2
£126K05/230.29 mi5, Green Street, Lancaster, Lancashire LA1 1DZ2
£102K03/230.31 mi25, Albion Street, Lancaster, Lancashire LA1 1DY2
£137.5K02/240.31 mi43, River Street, Lancaster, Lancashire LA1 1AD2
£145K09/230.31 mi16, Denis Street, Lancaster, Lancashire LA1 1QX2
£117.5K03/240.31 mi10, Denis Street, Lancaster, Lancashire LA1 1QX2
£105K11/230.34 mi46, Norfolk Street, Lancaster, Lancashire LA1 2BW2
£106.5K11/220.36 mi143, Main Street, Lancaster, Lancashire LA1 2BH2
£160K03/240.37 mi26, Nun Street, Lancaster, Lancashire LA1 3PJ2
£75K02/230.37 mi60, Broadway, Lancaster, Lancashire LA1 2BU2
£95K12/200.37 mi2, Kent Street, Lancaster, Lancashire LA1 2BS2
£123K03/240.37 mi4, Kent Street, Lancaster, Lancashire LA1 2BS2
£125K05/230.39 mi20, Aldrens Lane, Lancaster, Lancashire LA1 2DU2
£147K01/230.39 mi18, Mill Street, Lancaster, Lancashire LA1 3PL2
£185K06/210.4 mi5, Garnet Street, Lancaster, Lancashire LA1 3PN2
£170K11/210.4 mi24, Garnet Street, Lancaster, Lancashire LA1 3PN2
£160K05/230.4 mi23, Garnet Street, Lancaster, Lancashire LA1 3PN2
£100.5K11/200.4 mi28, Mill Street, Lancaster, Lancashire LA1 3PL2
£89K04/230.4 mi44, Gardner Road, Lancaster, Lancashire LA1 2DB2
£112K05/230.4 mi17, Gardner Road, Lancaster, Lancashire LA1 2DB2
£165K01/230.4 mi20, Mill Street, Lancaster, Lancashire LA1 3PL2
£117K04/210.41 mi7, Woodville Street, Lancaster, Lancashire LA1 3QD2
£178K03/210.42 mi7, Bath Mill Lane, Lancaster, Lancashire LA1 3QJ2
£132K08/230.43 mi15, Melbourne Road, Lancaster, Lancashire LA1 3QB2
£82.5K04/210.43 mi21, Olive Road, Lancaster, Lancashire LA1 2BZ2
£115K01/230.44 mi20, Olive Road, Lancaster, Lancashire LA1 2BZ2
£124K02/210.45 mi24, Coniston Road, Lancaster, Lancashire LA1 3NJ2
£170K02/240.45 mi46, Coniston Road, Lancaster, Lancashire LA1 3NJ2
£250K10/230.45 mi1, Dalton Road, Lancaster, Lancashire LA1 3PR2
£125K05/210.48 mi23, Meeting House Lane, Lancaster, Lancashire LA1 1TX2
£108.7K10/230.48 mi27, St Peters Road, Lancaster, Lancashire LA1 3BS2
£140K03/210.49 mi75, Clare Road, Lancaster, Lancashire LA1 2LU2
£110K04/210.49 mi52, Clare Road, Lancaster, Lancashire LA1 2LU2
£155K03/230.5 mi12, Grasmere Road, Lancaster, Lancashire LA1 3HE2
£157K06/210.5 mi41, Grasmere Road, Lancaster, Lancashire LA1 3HE2
£179.9K12/200.5 mi43, Grasmere Road, Lancaster, Lancashire LA1 3HE2
£122.5K11/200.5 mi34b, Long Marsh Lane, Lancaster, Lancashire LA1 5QX2
£120K02/210.5 mi2a, Long Marsh Lane, Lancaster, Lancashire LA1 5QX2
£130K11/210.5 mi8, Long Marsh Lane, Lancaster, Lancashire LA1 5QX2
£120K01/230.5 mi12, Long Marsh Lane, Lancaster, Lancashire LA1 5QX2
£150K08/230.53 mi83, Grasmere Road, Lancaster, Lancashire LA1 3HB2
£73.9K03/210.53 mi16, Alexandra Road, Lancaster, Lancashire LA1 2DS2

Local Rents

50 rents from £600/mo to £1.2K/mo, average is £885/mo.

RentDateDistanceAddressBeds 
£70004/240.02 miEarl Street, Lancaster, LA12
£71505/240.08 mi-2
£75005/240.2 miWater Street, Lancaster, LA12
£89505/240.21 mi-2
£90012/240.22 mi-2
£87505/240.22 miDamside Street, Lancaster2
£97504/240.23 miLune Square, Damside Street2
£94505/240.23 miLune Square, Lancaster, LA12
£89505/240.23 miLune Square, Lancaster, LA12
£75004/240.26 miBridge Square Apartments, Kingsway, Lancaster, LA12
£75005/240.26 miBridge Square Apartments, Kingsway, Lancaster, LA12
£95012/240.26 mi-2
£85001/250.27 mi-2
£75005/240.28 miCromwell Building, Lancaster, LA12
£85004/240.28 mi-2
£75006/240.28 mi-2
£95005/240.31 miRiver View Apartments, Lancaster, LA12
£89501/250.32 mi-2
£85004/240.34 miSwallow Wharf, Troutbeck Road, Lancaster2
£69505/240.37 miBroadway, Lancaster2
£89506/240.38 mi-2
£92505/240.38 miWhitbarrow Square, Lancaster, LA12
£92506/240.38 miWhitbarrow Square, Lancaster, LA12
£64105/240.41 miBulk Street, Lancaster2
£1,02504/240.42 miCastle Park, Lancaster 2
£90005/240.42 mi-2
£65003/240.43 mi-2
£99505/240.43 mi27 Castle Hill, Lancaster2
£82506/240.44 miCastle Park Mews, Chennell House Castle Park Mews, LA12
£99512/240.44 mi-2
£1,20005/240.49 mi-2
£1,20004/240.49 miWindermere House, Middle St, Lancaster, LA12
£75005/240.49 miSt Peters Road Lancaster2
£89504/240.49 miFenton Court, Fenton Street, Lancaster2
£1,05005/240.49 miMiddle Street, Windermere House Middle Street, LA12
£75004/240.5 miSt James Court, Lancaster2
£67505/240.5 miSt James Court, Wheatfield Court2
£87505/240.5 miNelson Street, Lancaster2
£90006/240.51 miCastle Park Mews, Lancaster2
£1,10004/240.51 miThe Roundhouse, Robert Street, LA12
£60005/240.52 miAlexandra Road, Lancaster, LA12
£92505/240.52 miHigh Street, Lancaster2
£75006/240.52 mi-2
£95004/240.53 mi-2
£65004/240.54 miAshbourne Road, Lancaster2
£67503/240.54 miAlexandra Road, Lancaster, LA12
£90001/250.54 mi-2
£90004/240.55 miAalborg Place, Court View House, LA12
£70004/240.56 miThurnham Street, City Centre, Lancaster, LA12
£65005/240.57 miAlexandra Road, Lancaster2

Local Area Statistics

Population in LA1

52,095

Population in Lancaster

74,075

Town centre distance

1.09 miles away

Nearest school

0.10 miles away

Nearest train station

0.49 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+34%

Sales demand

Balanced market

Capital growth (5yrs)

+16%

Property History

Price changed to £119,950

December 4, 2024

Listed for £125,000

August 28, 2024

Sold for £111,000

2004

Sold for £56,000

2003

Floor Plans

Description

Are you looking for an exciting property, located in a quiet discreet location, with excellent access to Lancaster City Centre? We have just the one for you! Although this property requires works in areas, major works have been undertaken, such as a newly installed roof approx. 3 years ago and a new gas central heating boiler, which was installed approx. 12 months ago, with a warranty until 11th September 2028. With two good sized bedroom, two generous reception rooms, residential parking and a secure rear yard.

Located on Earl Street to the North of the River Lune, this beautiful mid terraced home is a short walk away from a breadth of independent shops, pubs and eateries located in the historic market town of Lancaster. With a West Coast mainline train station an approximate 15 minutes walk away and the M6 motorway an approximate 5 minute drive, as well as access to the local universities via public transport, and well regarded primary and secondary schools.

Layout (With Approx. Dimensions) -

Ground Floor -

Entrance Hall - Entered via a UPVC double glazed door with hardwood flooring, a radiator and stairs leading to the first floor.

Dining Room - 3.59 x 3.45 (11'9" x 11'3") - A bright and spacious room, fitted with a UPVC double glazed window, hardwood flooring and a radiator.

Living Room - 3.45 x 3.10 (11'3" x 10'2") - Fitted with a feature living flame gas fireplace, in a decorative surround, providing the perfect backdrop for a cosy winters evening. With a UPVC double glazed window, coving to the ceiling, hardwood flooring and a radiator.

Kitchen - 2.66 x 2.06 (8'8" x 6'9") - Fitted with range of wall and base units with a complementary worktop over and an inset stainless steel sink unit with mixer tap. Fitted appliances include a four-ring gas hob with extractor above and a fan oven, with space for an undercounter fridge freezer and plumbing for a washing machine. With a UPVC double glazed window, tiled flooring and a radiator, and a UPVC double glazed door providing access to the rear yard.

Cellar - 4.59 x 3.10 (15'0" x 10'2") - Stairs lead from the kitchen to spacious cellar room. A perfect storage area with light and power.

First Floor Landing - A spacious landing area, fitted with a built-in storage cupboard and access to a loft area.

Bathroom - 2.66 x 2.06 (8'8" x 6'9") - Fitted with a three-piece suit consisting of a WC, a feature glass wash hand basin and a bath, with a shower over and tiled surround. With a UPVC double glazed frosted window, a gas central heating boiler, and a heated towel rail.

Bedroom Two - 3.59 x 2.73 (11'9" x 8'11") - Fitted with a UPVC double glazed window and a radiator.

Bedroom One - 4.41 x 3.10 (14'5" x 10'2") - A large and spacious room, fitted with a range of built-in wardrobes, a UPVC double glazed window and a radiator.

Outside - To the front of the property there is on street, residential parking. To the rear, a yard can be found with a secure wooden gate fencing. This provides the perfect area to sit out on a warm summers day.

Services - Mains electric, mains gas, mains water and mains drainage.

Council Tax - Band A - Lancaster City Council.

Tenure - Freehold.

Viewings - Strictly by appointment with Houseclub Estate Agents, Lancaster.

Energy Performance Certificate - The full Energy Performance Certificate is available on our website or by contacting our hybrid office.

Please Note: - This property requires some level of work eg correction of damp to the exterior wall. However recent renovations include a newly installed roof, approximately 3 years ago and a new gas central heating boiler approximately 12 months ago with a warranty until 11th September 2028.

Agent Details

Houseclub, Lancaster

01524 969718

Next Steps?

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