2 Bed Detached House, Refurb/BRRR, Lancaster, LA1 4HA, £250,000

Chester Place, Lancaster, LA1 4HA - 4 views - 7 months ago

Refurb/BRRR
~68 m²
+8 photos

ValuationOvervalued

Sold Prices£104.5K - £339.9K
Sold Prices/m²£1.2K/m² - £4.4K/m²

 

 

Square Metres

~68.11 m²
Price/m²£3.7K/m²

Value Estimate

£157,888

 

 

End Value (After Refurb)

£228,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£62,500

Stamp Duty & Legal Fees

£8,700

Refurb Costs

£27,537

Bridging Loan Interest

£6,563

Total Cash In

£107,050

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£228,000

Mortgage (After Refinance)

£171,000

Mortgage LTV

75%

Cash Left In

£107,050

Equity

£57,000

Rent Range

£498 - £1,000

Rent Estimate

£765

Running Costs/mo

£886

Cashflow/mo

£-120

Cashflow/yr

£-1,446

Gross Yield

4%

Local Sold Prices

50 sold prices from £104.5K to £339.9K, average is £147.5K. £1.2K/m² to £4.4K/m², average is £2.3K/m².

PriceDateDistanceAddressBeds 
£185K08/210.17 mi24, Wellington Road, Lancaster, Lancashire LA1 4DN2
£135K06/210.18 mi11, Chiltern Court, Lancaster, Lancashire LA1 4TP2
£153K11/200.2 mi14, Rosebery Avenue, Lancaster, Lancashire LA1 4DJ2
£210.5K03/210.21 mi15, Ardengate, Lancaster, Lancashire LA1 4SW2
£339.9K10/230.21 mi2, Ardengate, Lancaster, Lancashire LA1 4SW2
£138K12/200.24 mi2, Gillow Court, Lancaster, Lancashire LA1 4UA2
£140K03/210.24 mi9, Gillow Court, Lancaster, Lancashire LA1 4UA2
£138K12/200.24 mi2, Gillow Court, Lancaster, Lancashire LA1 4UA2
£107K08/210.25 mi1, Trafalgar Road, Lancaster, Lancashire LA1 4DB2
£140K01/240.25 mi71, Trafalgar Road, Lancaster, Lancashire LA1 4DB2
£148K04/230.26 mi14, Franklin Street, Lancaster, Lancashire LA1 4TA2
£122K01/210.27 mi16, Trafalgar Road, Lancaster, Lancashire LA1 4DA2
£127.5K05/210.27 mi78, Trafalgar Road, Lancaster, Lancashire LA1 4DA2
£131K05/210.27 mi45, Dorrington Road, Lancaster, Lancashire LA1 4TB2
£125K06/230.29 mi59, Connaught Road, Lancaster, Lancashire LA1 4BQ2
£190K08/230.29 mi11, Bishopsgate, Lancaster, Lancashire LA1 4QF2
£162K01/210.31 mi50, Dorrington Road, Lancaster, Lancashire LA1 4TG2
£147K03/210.31 mi52, Dorrington Road, Lancaster, Lancashire LA1 4TG2
£179.6K12/220.32 mi75, Gressingham Drive, Lancaster, Lancashire LA1 4RF2
£181K12/230.32 mi29, Larchwood, Lancaster, Lancashire LA1 4QG2
£255K08/230.33 mi7, The Spinney, Lancaster, Lancashire LA1 4JQ2
£155K10/230.35 mi50, Adelphi Street, Lancaster, Lancashire LA1 4AF2
£166.5K04/230.35 mi54, Adelphi Street, Lancaster, Lancashire LA1 4AF2
£139.9K04/230.35 mi28, Adelphi Street, Lancaster, Lancashire LA1 4AF2
£186K09/210.35 mi23, Chequers Avenue, Lancaster, Lancashire LA1 4HY2
£335K05/230.35 mi10, Ascot Close, Lancaster, Lancashire LA1 4LT2
£230K07/230.36 mi9, Brunton Road, Lancaster, Lancashire LA1 4UQ2
£128.5K04/210.37 mi11, Vine Street, Lancaster, Lancashire LA1 4UF2
£130K04/210.37 mi15, Vine Street, Lancaster, Lancashire LA1 4UF2
£233.5K03/210.38 mi16, Kempton Road, Lancaster, Lancashire LA1 4LU2
£179.9K10/230.38 mi16, Broyd View, Lancaster, Lancashire LA1 4WF2
£132K01/230.38 mi22, Havelock Street, Lancaster, Lancashire LA1 4AD2
£150K12/200.39 mi11, Pickard Street, Lancaster, Lancashire LA1 4UG2
£145K05/210.39 mi6, Cumberland View, Lancaster, Lancashire LA1 4AB2
£146K03/240.41 mi5, Binyon Road, Lancaster, Lancashire LA1 4TW2
£119K04/230.41 mi32, Graham Street, Lancaster, Lancashire LA1 4UE2
£118K07/230.41 mi23, Graham Street, Lancaster, Lancashire LA1 4UE2
£149.5K02/240.41 mi25, Graham Street, Lancaster, Lancashire LA1 4UE2
£145K01/230.41 mi10, Graham Street, Lancaster, Lancashire LA1 4UE2
£170K07/210.42 mi46, Chequers Avenue, Lancaster, Lancashire LA1 4HZ2
£205K07/210.42 mi18, Chequers Avenue, Lancaster, Lancashire LA1 4HZ2
£226K03/240.47 mi58, Newlands Road, Lancaster, Lancashire LA1 4JF2
£140K06/230.48 mi10, Hala Road, Lancaster, Lancashire LA1 4QJ2
£257.5K01/230.5 mi19, Redcar Road, Lancaster, Lancashire LA1 4NA2
£302.5K06/230.5 mi10, Piccadilly Close, Scotforth, Lancaster, Lancashire LA1 4PY2
£104.5K05/210.52 mi14, Ashford Road, Lancaster, Lancashire LA1 4QA2
£140K05/210.55 mi8, Charles Court, Lancaster, Lancashire LA1 4UZ2
£151.5K05/230.55 mi6, Charles Court, Lancaster, Lancashire LA1 4UZ2
£117K02/230.56 mi26, Westham Street, Lancaster, Lancashire LA1 3AU2
£125K05/210.56 mi16, Westham Street, Lancaster, Lancashire LA1 3AU2

Local Rents

30 rents from £498/mo to £1K/mo, average is £750/mo.

RentDateDistanceAddressBeds 
£87504/240.18 miWellington Road, Lancaster, LA12
£75005/240.19 miChiltern Court, Scotforth, Lancaster2
£72505/240.2 miTrafalgar Road, Lancaster2
£72505/240.2 miThe Hastings, Greaves, Lancaster2
£72504/240.23 miLeinster Court, Lancaster, LA12
£82512/240.24 mi-2
£54206/240.24 miBowerham Road, Lancaster2
£49806/240.24 mi83a Bowerham Road, Lancaster2
£70005/240.27 mi-2
£85005/240.29 miDorrington Road, Lancaster, LA12
£79504/240.3 miAvondale Road, Lancaster2
£67504/240.4 mi-2
£67503/250.4 mi-2
£87505/240.41 miGraham Street, Lancaster2
£97104/250.45 mi-2
£87505/240.49 miPiccadilly Close, Scotforth, Lancaster2
£90002/240.51 mi-2
£1,00001/250.51 mi-2
£82505/240.51 miStorey Hall, Lancaster, LA12
£82512/240.54 mi-2
£85005/240.54 miCunningham Court, Ashton Road, Lancaster, LA12
£75006/240.56 miWestham Street, Lancaster, LA12
£72505/240.57 miWestham Street, Lancaster2
£65004/240.58 miWestham Street, Lancaster2
£80005/240.58 mi-2
£75004/240.59 miEastham Street, Lancaster, LA12
£70003/250.59 mi-2
£72512/240.59 mi-2
£70005/240.59 miEastham Street, Lancaster, LA12
£77505/240.61 miSouth Road, Lancaster, LA12

Local Area Statistics

Population in LA1

52,095

Population in Lancaster

74,075

Town centre distance

0.75 miles away

Nearest school

0.20 miles away

Nearest train station

1.21 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+34%

Sales demand

Balanced market

Capital growth (5yrs)

+16%

Property History

Listed for £250,000

September 13, 2024

Floor Plans

Description

  • One Reception Room +
  • Three Piece Shower Room +
  • Three Storage Cupboards / Pantry +
  • Off Street Parking x1 +
  • No onward Chain +

Location Welcome to Chester Place in Bowerham, South Lancaster. It is one of Lancaster's more popular locations thanks to its quiet, well-maintained streets while also being close to the city centre and the Universities. Many people choose to settle in Bowerham because of the quality of the local schools with some well-regarded primary schools as well as falling into the catchment area for Ripley St Thomas or the Grammar Schools. Bowerham itself has a number of local shops and services with a popular chippy, florist, and Spar shop among many more. Lancaster city centre is within walking distance for many, with regular buses also offering an alternative way into town. Here we find the train station, library and all the shops, pubs and cafes the city has to offer. Property description Positioned to the end of a quiet cul-de-sac we come across 46 Chester Place. A detached true bungalow with gardens to the front and the rear. We particularly like the Palm tree in the front garden. The property offers two double bedrooms with tall built-in wardrobes at the end of the hallway. The main living room has a bay window and a centrally positioned electric fireplace. The kitchen sits to the rear of the home and is a spacious room with counters on three walls, and three storage cupboards that can be utilised as a pantry. A three-piece shower room can be found on the right just as we enter the front room. The property is ready for some updating and modernisation with flooring required currently. The house has modern double glazing and a combi boiler already fitted. The front and rear gardens are nice spaces that could be turned into a lovely private environment to relax in.

EPC Rating: E

Agent Details

JD Gallagher Estate Agents, Lancaster

01524 967550

Next Steps?

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