3 Bed Semi-Detached House, Refurb/BRRR, Morecambe, LA3 3AL, £209,950

Stanhope Avenue, Torrisholme, Morecambe, LA3 3AL - 7 months ago

Refurb/BRRR
ROI: 2%
~93 m²
+7 photos

ValuationOvervalued

Sold Prices£85K - £377.5K
Sold Prices/m²£1K/m² - £3.5K/m²

 

 

Square Metres

~93 m²
Price/m²£2.3K/m²

Value Estimate

£196,850

 

 

End Value (After Refurb)

£213,262

Uplift in Value

+2%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£52,488

Stamp Duty & Legal Fees

£11,698

Refurb Costs

£37,600

Bridging Loan Interest

£5,511

Total Cash In

£109,046

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£213,262

Mortgage (After Refinance)

£159,947

Mortgage LTV

75%

Cash Released

£2,484

Cash Left In

£106,562

Equity

£53,316

Rent Range

£775 - £2,250

Rent Estimate

£1,034

Running Costs/mo

£893

Cashflow/mo

£141

Cashflow/yr

£1,689

ROI

2%

Gross Yield

6%

Local Sold Prices

51 sold prices from £85K to £377.5K, average is £193K. £1K/m² to £3.5K/m², average is £2.3K/m².

PriceDateDistanceAddressBeds 
£247K07/210.06 mi1a, Homfray Grove, Morecambe, Lancashire LA3 3AQ3
£205K03/210.06 mi9, Watling Close, Morecambe, Lancashire LA3 3BG3
£175K05/210.08 mi7, Hadrian Road, Morecambe, Lancashire LA3 3BX3
£176.5K03/210.09 mi84, Hadrian Road, Morecambe, Lancashire LA3 3BX3
£225K05/230.09 mi82, Hadrian Road, Morecambe, Lancashire LA3 3BX3
£255K03/210.11 mi25, Morecambe Road, Morecambe, Lancashire LA3 3AA3
£164K05/210.13 mi4, Ryknild Way, Morecambe, Lancashire LA3 3BW3
£165K06/210.13 mi5, Ryknild Way, Morecambe, Lancashire LA3 3BW3
£237K11/200.13 mi3, Ermine Place, Morecambe, Lancashire LA3 3BU3
£280K04/210.13 mi2, Ermine Place, Morecambe, Lancashire LA3 3BU3
£258K01/210.13 mi6, Ermine Place, Morecambe, Lancashire LA3 3BU3
£250K02/230.13 mi17, Homfray Avenue, Morecambe, Lancashire LA3 3AG3
£163K03/210.14 mi24, Akeman Close, Morecambe, Lancashire LA3 3BP3
£209K02/230.14 mi9, Akeman Close, Morecambe, Lancashire LA3 3BP3
£228K06/230.14 mi17, Akeman Close, Morecambe, Lancashire LA3 3BP3
£228K06/230.14 mi17, Akeman Close, Morecambe, Lancashire LA3 3BP3
£185K09/210.14 mi37, Norwood Drive, Morecambe, Lancashire LA4 6LT3
£172K12/200.16 mi10, Warley Avenue, Morecambe, Lancashire LA3 3AR3
£100K02/210.25 mi393, Lancaster Road, Morecambe, Lancashire LA4 6LZ3
£257K11/220.28 mi8, Hyndburn Close, Morecambe, Lancashire LA3 3SQ3
£176K08/210.32 mi4, Severn Court, Morecambe, Lancashire LA3 3ST3
£193K01/230.32 mi27, Severn Court, Morecambe, Lancashire LA3 3ST3
£184K06/210.33 mi41, Roeburn Drive, Morecambe, Lancashire LA3 3RY3
£110K07/210.34 mi42, Ullswater Avenue, Morecambe, Lancashire LA4 5TY3
£155K07/230.34 mi43, Ullswater Avenue, Morecambe, Lancashire LA4 5TY3
£187K01/210.34 mi287, Lancaster Road, Morecambe, Lancashire LA4 5TP3
£210K02/230.37 mi10, Lonsdale Avenue, Morecambe, Lancashire LA4 6RX3
£95K05/210.37 mi22, Haweswater Place, Morecambe, Lancashire LA4 5TZ3
£192K01/210.39 mi2, Dunsop Gardens, Morecambe, Lancashire LA3 3SL3
£218K05/230.39 mi7, Dunsop Gardens, Morecambe, Lancashire LA3 3SL3
£175K05/230.4 mi21, Langden Brook Mews, Morecambe, Lancashire LA3 3SN3
£215K07/230.4 mi10, Langden Brook Mews, Morecambe, Lancashire LA3 3SN3
£173K01/210.42 mi19, Russell Drive, Morecambe, Lancashire LA4 6NR3
£85K06/210.42 mi2, Kentmere Grove, Morecambe, Lancashire LA4 5UF3
£240.5K02/230.43 mi12, Russell Drive, Morecambe, Lancashire LA4 6NR3
£370K03/210.44 mi101, Broadway, Morecambe, Lancashire LA4 5YA3
£377.5K06/210.44 mi119, Broadway, Morecambe, Lancashire LA4 5YA3
£229K03/210.44 mi23, Lynden Avenue, Morecambe, Lancashire LA4 6TF3
£220K03/220.45 mi1a, Kenyon Road, Morecambe, Lancashire LA4 6PT3
£123K02/210.47 mi269, Lancaster Road, Morecambe, Lancashire LA4 5TN3
£150K06/210.47 mi259, Lancaster Road, Morecambe, Lancashire LA4 5TN3
£287K12/220.47 mi171, Bare Lane, Morecambe, Lancashire LA4 6RR3
£170K07/210.47 mi33, Michaelson Avenue, Morecambe, Lancashire LA4 6SD3
£167.5K04/210.47 mi246, Lancaster Road, Morecambe, Lancashire LA4 5TW3
£225K05/230.48 mi82, Lymm Avenue, Lancaster, Lancashire LA1 5HR3
£150K03/210.49 mi18, Kayswell Road, Morecambe, Lancashire LA4 6PX3
£263K07/230.49 mi34, Kayswell Road, Morecambe, Lancashire LA4 6PX3
£178K03/210.51 mi30, Thonock Road, Morecambe, Lancashire LA4 4RG3
£176.5K11/210.51 mi33, Lathom Grove, Morecambe, Lancashire LA4 5XT3
£239.2K02/230.51 mi38, Lathom Grove, Morecambe, Lancashire LA4 5XT3
£260K11/200.51 mi254, Torrisholme Road, Lancaster, Lancashire LA1 2TU3

Local Rents

24 rents from £775/mo to £2.3K/mo, average is £900/mo.

RentDateDistanceAddressBeds 
£82506/240.36 miWyre Close, Grosvenor Park, Lancaster, LA33
£90005/240.36 miDallas Road, Torrisholme, LA43
£1,50007/240.42 miEssex Road, Torrisholme3
£90004/240.55 miMichaelson Avenue, Morecambe, LA43
£85004/240.57 miGregareth Close, Lancaster3
£95006/240.6 miKayswell Road, Torrisholme, Morecambe3
£92505/240.8 miWatery Lane, Lancaster3
£1,30005/240.84 miLichfield Avenue, Bare3
£90004/240.89 miWhitby Road, Morecambe3
£85006/240.93 miHampsfell Drive, Westgate, Morecambe, Lancashire3
£92504/240.94 miHampsfell Drive, Westgate3
£95004/241.07 miThornton Road, Morecambe3
£87502/251.11 mi-3
£89504/241.12 miHestham Avenue, Morecambe3
£2,25004/241.14 mi-3
£1,95001/251.14 mi-3
£77504/241.15 miThornton Road, Morecambe, LA43
£80008/241.17 miWestover Street, Morecambe, LA43
£85002/251.18 mi-3
£87506/241.19 mi-3
£87504/251.19 mi-3
£1,00004/241.19 miAbram Close, Lancaster3
£87505/241.22 miClare Road, Lancaster, LA13
£1,20005/241.24 miAbram Close, Lancaster3

Local Area Statistics

Population in LA3

24,587

Population in Morecambe

50,836

Town centre distance

0.98 miles away

Nearest school

0.10 miles away

Nearest train station

0.83 miles away

 

 

Rental growth (12m)

-2%

Sales demand

Buyer's market

Capital growth (5yrs)

+31%

Property History

Price changed to £209,950

February 28, 2025

Listed for £219,950

September 4, 2024

Floor Plans

Description

Well-proportioned three bedroom semi-detached house situated on this popular road which runs between Homfray Grove and Homfray Avenue, conveniently located for the 'Bay Gateway' M6 link road, Torrisholme village amenities including One Stop supermarket, local schools, bus routes and within approximately one mile radius of the sea front promenade. The accommodation is uPVC double glazed throughout and gas central heated from a 'combi' boiler and briefly comprises: front entrance, hallway, lounge with feature fireplace and sliding doors into the dining area and kitchen, conservatory, staircase and first floor landing, three generous size bedrooms and three-piece bathroom. Outside the property there is a low maintenance front garden and tarmacadam driveway providing off-road parking for a number of vehicles leading to the garage. Finally there is a lawned rear garden. The current owners have enjoyed living here for over sixty-five years and although in need of some modernisation, the property will appeal to a wide range of purchasers including the typical family buyer seeking a spacious 'semi' in a popular and convenient location. Internal viewings are highly recommended. Sold with vacant possession and NO UPWARD CHAIN.

FRONT ENTRANCE PORCH
Outside light. uPVC double glazed double doors. Inner uPVC door leading into the hallway.

HALLWAY
Central heating radiator. Coat hooks. Telephone point. Ceiling light. Power points. Staircase to the first floor.

LOUNGE (4.85m x 3.57m) (15'9" x 11'7")
uPVC double glazed window to the front elevation. Central heating radiator. Feature marble fireplace with inset coal effect living flame gas fire. TV aerial. Wall lights. Ceiling light. Power points. Glazed sliding doors into:

DINING AREA (2.94m x 2.77m) (9'6" x 9'0")
Central heating radiator. Ceiling light. Power points. Open access to the kitchen. uPVC double glazed sliding patio doors leading into the conservatory.

CONSERVATORY (2.77m x 2.69m) (9'0" x 8'8")
uPVC double glazed windows and door leading out onto the garden. Polycarbonate roof. Central heating radiator. Ceiling light with fan. Power points.

KITCHEN (4.03m maximum/2.95m average x 2.64m) (13'2"/9'6" x 8'6")
uPVC double glazed window to the rear elevation. Fitted base units, wall units and drawers. Working surface in part to two walls with inset single bowl stainless steel sink. Built-in storage cupboard/pantry with electric meter, fuse box, shelving and light. Freestanding electric cooker. Plumbing/space for washing machine and undercounter fridge. Tiled in part to all walls. Ceiling light. Power points.

FIRST FLOOR

LANDING
uPVC patterned double glazed window to the side elevation. Ceiling light. Loft hatch access with a drop down ladder into the insulated and boarded roof space with light.

BEDROOM ONE (3.88m x 3.43m) (12'7" x 11'2")
uPVC double glazed window to the front elevation. Central heating radiator. Fitted wardrobes and storage cupboards. TV point. Ceiling light. Power points.

BEDROOM TWO (3.95m x 2.77m) (12'9" x 9'0")
uPVC double glazed window to the rear elevation. Central heating radiator. Ceiling light. Power points.

BEDROOM THREE (2.98m x 2.66m) (9'7" x 8'7")
uPVC double glazed window to the rear elevation. Central heating radiator. Fitted wardrobes and overhead storage cupboards. TV point. Ceiling light. Power points.

BATHROOM (2.42m x 1.83m) (7'9" x 6'0")
uPVC double glazed window to the side elevation. Three piece coloured suite comprising bath with wall mounted 'Gainsborough' electric shower, pedestal wash hand basin and wc. Tiled in part to all walls. Two mirror fronted bathroom cabinets. Cupboard housing the 'Ideal' gas combination condensing boiler. Ceiling light.

OUTSIDE THE PROPERTY

FRONT GARDEN
Laid to stone chippings with paved circular centre piece.

DRIVEWAY
Dropped kerb leading onto the tarmacadam driveway which provides off-road parking for a number of vehicles and leads down the side of the property to the garage. uPVC door into an external storage cupboard with power. External gas meter. Open access to the rear garden.

REAR GARDEN
Mainly laid to lawn with concrete pathways. Surrounded by a combination of timber and wire fencing. Outside cold water tap.

DETACHED GARAGE (5.50m x 3.15m) (18'0" x 10'3")
Outside security light. Brick built with metal up and over door. uPVC double glazed window. Power and light.

TENURE Freehold

SERVICES Mains water, mains drainage, mains electricity, mains gas. Local Authority Lancaster City Council. Council Tax Band C. Amount payable for the financial year 2024/25 being £2093.88. Please note that this is a verbal enquiry only. We strongly recommend that prospective purchasers verify the information direct.

Council Tax Band: C (Lancaster City Council)
Tenure: Freehold

Agent Details

ibay Homes, Morecambe

01524 952012

Next Steps?

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