3 Bed Semi-Detached House, Refurb/BRRR, Lancaster, LA1 4HF, £240,000

51 Palatine Avenue, Lancaster, LA1 4NB - 1 views - 6 months ago

Sold STC
Refurb/BRRR
ROI: 1%
~84 m²
+13 photos

ValuationOvervalued

Sold Prices£143K - £380K
Sold Prices/m²£1.6K/m² - £3.4K/m²

 

 

Square Metres

~84.26 m²
Price/m²£2.8K/m²

Value Estimate

£170,085

 

 

End Value (After Refurb)

£232,500

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£60,000

Stamp Duty & Legal Fees

£13,200

Refurb Costs

£34,066

Bridging Loan Interest

£6,300

Total Cash In

£115,316

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£232,500

Mortgage (After Refinance)

£174,375

Mortgage LTV

75%

Cash Left In

£115,316

Equity

£58,125

Rent Range

£525 - £2,800

Rent Estimate

£1,043

Running Costs/mo

£955

Cashflow/mo

£88

Cashflow/yr

£1,054

ROI

1%

Gross Yield

5%

Local Sold Prices

50 sold prices from £143K to £380K, average is £211K. £1.6K/m² to £3.4K/m², average is £2.4K/m².

PriceDateDistanceAddressBeds 
£167K06/210.01 mi27, Palatine Avenue, Lancaster, Lancashire LA1 4HF3
£182.5K07/230.01 mi18, Palatine Avenue, Lancaster, Lancashire LA1 4HF3
£250K11/230.01 mi42, Palatine Avenue, Lancaster, Lancashire LA1 4HF3
£172K03/210.01 mi18, Palatine Avenue, Lancaster, Lancashire LA1 4HF3
£285K02/210.05 mi30, Fern Bank, Lancaster, Lancashire LA1 4TT3
£315K09/230.08 mi20, Durham Avenue, Lancaster, Lancashire LA1 4ED3
£254K02/240.09 mi4, Warwick Avenue, Lancaster, Lancashire LA1 4HB3
£235K09/210.09 mi38, Rutland Avenue, Lancaster, Lancashire LA1 4EX3
£260K02/230.09 mi38, Rutland Avenue, Lancaster, Lancashire LA1 4EX3
£168K06/210.1 mi3, York Road, Lancaster, Lancashire LA1 4DW3
£200K12/220.12 mi22, Rutland Avenue, Lancaster, Lancashire LA1 4EZ3
£187.5K11/200.12 mi20, York Road, Lancaster, Lancashire LA1 4DW3
£190K03/210.13 mi52, Gloucester Avenue, Lancaster, Lancashire LA1 4EU3
£232.5K10/230.13 mi42, Gloucester Avenue, Lancaster, Lancashire LA1 4EU3
£190K11/200.13 mi42, Gloucester Avenue, Lancaster, Lancashire LA1 4EU3
£250K01/240.13 mi30, Gloucester Avenue, Lancaster, Lancashire LA1 4EU3
£227.5K06/230.13 mi26, Rutland Avenue, Lancaster, Lancashire LA1 4EZ3
£200.1K11/200.15 mi14, Gloucester Avenue, Lancaster, Lancashire LA1 4ES3
£236K01/210.15 mi68, Gloucester Avenue, Lancaster, Lancashire LA1 4EF3
£260K03/210.15 mi59, Gloucester Avenue, Lancaster, Lancashire LA1 4EF3
£173K11/200.16 mi54, Wellington Road, Lancaster, Lancashire LA1 4DN3
£204K01/240.16 mi45, Wellington Road, Lancaster, Lancashire LA1 4DN3
£174K12/200.16 mi50, Wellington Road, Lancaster, Lancashire LA1 4DN3
£180K02/240.16 mi52, Wellington Road, Lancaster, Lancashire LA1 4DN3
£237.5K03/230.16 mi10, Gloucester Avenue, Lancaster, Lancashire LA1 4ES3
£173K06/210.17 mi78, Newsham Road, Lancaster, Lancashire LA1 4DH3
£148K12/200.18 mi19, Victoria Avenue, Lancaster, Lancashire LA1 4SY3
£272K11/230.18 mi4, Devon Place, Lancaster, Lancashire LA1 4EG3
£228K03/210.18 mi49, Rosebery Avenue, Lancaster, Lancashire LA1 4DJ3
£205K03/210.19 mi103, Bowerham Road, Lancaster, Lancashire LA1 4HJ3
£290K04/210.2 mi4, Church Avenue, Lancaster, Lancashire LA1 4SP3
£240K06/210.2 mi9, Ardengate, Lancaster, Lancashire LA1 4SW3
£217K11/210.2 mi80, Bowerham Road, Lancaster, Lancashire LA1 4DR3
£205K09/230.21 mi3, Newsham Road, Lancaster, Lancashire LA1 4DG3
£192.5K09/230.21 mi24, Newsham Road, Lancaster, Lancashire LA1 4DG3
£220K03/210.21 mi12, Wakefield Drive, Lancaster, Lancashire LA1 4EJ3
£175K11/210.22 mi15, Newsham Place, Lancaster, Lancashire LA1 4DF3
£165K11/200.22 mi1 - 3, Newsham Place, Lancaster, Lancashire LA1 4DF3
£220K02/240.22 mi33, Chatsworth Road, Lancaster, Lancashire LA1 4SL3
£143K03/210.22 mi4, Devonshire Street, Lancaster, Lancashire LA1 4TQ3
£290K09/210.23 mi24, Belle Vue Drive, Lancaster, Lancashire LA1 4DE3
£185K01/230.23 mi7, Hastings Road, Lancaster, Lancashire LA1 4TH3
£192.5K02/230.24 mi4, Ulster Road, Lancaster, Lancashire LA1 4AH3
£380K11/210.24 mi13, Belle Vue Terrace, Lancaster, Lancashire LA1 4TY3
£192K06/230.26 mi71, Avondale Road, Lancaster, Lancashire LA1 4BZ3
£290K04/230.27 mi8, Ash Grove, Lancaster, Lancashire LA1 4UH3
£257.5K07/230.27 mi9, Ash Grove, Lancaster, Lancashire LA1 4UH3
£240K02/230.28 mi7, Ash Grove, Lancaster, Lancashire LA1 4UH3
£260K02/240.28 mi16, Windsor Avenue, Lancaster, Lancashire LA1 4BE3
£190K01/230.29 mi14, West Street, Lancaster, Lancashire LA1 4UJ3

Local Rents

24 rents from £525/mo to £2.8K/mo, average is £995/mo.

RentDateDistanceAddressBeds 
£95005/240.13 miWellington Road, Lancaster3
£1,10003/240.16 miBowerham Road, Lancaster3
£90004/240.17 miSt. Pauls Road, Lancaster3
£1,09504/240.21 miKensington Road, Lancaster3
£99505/240.21 miKensington Road, Lancaster3
£1,09504/240.22 miKensington Road, Lancaster3
£99505/240.22 miKensington Road, Lancaster3
£98012/240.22 mi-3
£53305/240.23 mi20, Newsham Road, Lancaster3
£80004/240.24 miHastings Road, Lancaster, LA13
£85005/240.24 miKensington Road, Lancaster, LA13
£70004/240.24 miDorrington Road, Lancaster, LA13
£92505/240.24 miAvondale Road, Lancaster3
£1,10004/240.24 mi-3
£2,80003/250.27 mi-3
£1,56007/240.27 mi-3
£99505/240.31 miWest Street, Lancaster, LA1 4UJ3
£1,00005/240.32 miSomerset Avenue, Lancaster3
£52505/240.4 miWinchester Avenue, Lancaster, LA13
£99512/240.44 mi-3
£95005/240.45 mi-3
£1,20003/250.51 mi-3
£97504/240.52 mi-3
£1,02505/240.57 miAshford Close, Lancaster3

Local Area Statistics

Population in LA1

52,095

Population in Lancaster

74,075

Town centre distance

0.72 miles away

Nearest school

0.20 miles away

Nearest train station

1.18 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+34%

Sales demand

Balanced market

Capital growth (5yrs)

+16%

Property History

Listed for £240,000

October 2, 2024

Floor Plans

Description

  • 3 Bedroom Semi +
  • 4 Piece Family Bathroom +
  • Chain Free +
  • Desirable Location +
  • Driveway +
  • Fitted Kitchen +
  • Front & Rear Gardens +
  • GCH & Double Glazing Throughout +
  • Open Plan Living/Dining Room +

51 Palatine Avenue is located within the leafy, desirable residential area of Bowerham, South Lancaster.

Just a short stroll from the areas best Primary and Secondary Schools and just a 5 minute drive from Lancaster University and City Centre this fabulous home is certain to appeal to a wide range of potential buyers.

The home itself is in need of some cosmetic modernisation but has the potential and space to be a fantastic family home.
It benefits a large open plan Lounge/Dining Room filled with natural lights via the large front window and the French Doors leading out to the rear Garden. There's also a fabulous log burning stove.

The Kitchen features and range of wall/base units with integrated Gas Hob and Electric Cooker.

on the first floor there are 3 good sized Bedrooms and a modern 4 piece Family Bathroom

Externally to the front of the property is a paved Garden and large Driveway which allows vehicle access to the rear Garden.
The rear Garden is HUGE with a paved seating area and ample space for lawn, decking....even an Extension. There's also an apple tree and wooden wood shed.
The Garden overlooks the local Bowling Green and Tennis Courts.

Council Tax Band: B
Tenure: Freehold

Agent Details

Yes Move, Lancaster

01524 967534

Next Steps?

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