2 Bed Terraced House, Single Let, Morecambe, LA4 5AN, £194,950

365 Lancaster Road, Torrisholme, Morecambe LA4 6LZ - 6 months ago

Leasehold
BTL
~68 m²
+5 photos

ValuationOvervalued

Sold Prices£71K - £350K
Sold Prices/m²£881/m² - £4.8K/m²

 

 

Square Metres

~68.11 m²
Price/m²£2.9K/m²

Value Estimate

£123,804

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£48,738

Stamp Duty & Legal Fees

£10,948

Total Cash In

£59,685

 

 

Cash Out

 

Rent Range

£545 - £1,690

Rent Estimate

£584

Running Costs/mo

£746

Cashflow/mo

£-162

Cashflow/yr

£-1,944

Gross Yield

4%

Local Sold Prices

50 sold prices from £71K to £350K, average is £134.3K. £881/m² to £4.8K/m², average is £1.8K/m².

PriceDateDistanceAddressBeds 
£149.9K07/210.24 mi12, Turnberry Close, Morecambe, Lancashire LA4 5BS2
£160K08/210.27 mi7, Thornton Crescent, Morecambe, Lancashire LA4 5PY2
£137K01/210.28 mi9, Gleneagles Drive, Morecambe, Lancashire LA4 5BN2
£81K01/210.28 mi21, Gleneagles Drive, Morecambe, Lancashire LA4 5BN2
£133.5K09/210.28 mi17, Gleneagles Drive, Morecambe, Lancashire LA4 5BN2
£143K02/210.29 mi12, Fairhaven Way, Morecambe, Lancashire LA4 5BP2
£141K02/210.29 mi10, Fairhaven Way, Morecambe, Lancashire LA4 5BP2
£240K03/220.29 mi27, St Christophers Way, Morecambe, Lancashire LA4 6EE2
£122K01/210.3 mi13, Bellfield Road, Morecambe, Lancashire LA4 5NQ2
£135K07/230.31 mi7, Rose Street, Morecambe, Lancashire LA4 5JB2
£215K03/230.32 mi41, Foxholes Road, Morecambe, Lancashire LA4 6EL2
£190K05/210.33 mi22, Colwyn Avenue, Morecambe, Lancashire LA4 6EQ2
£122K07/210.33 mi15, Melrose Avenue, Morecambe, Lancashire LA4 5NG2
£132K05/230.33 mi15, Melrose Avenue, Morecambe, Lancashire LA4 5NG2
£130K11/210.33 mi8, Beecham Street, Morecambe, Lancashire LA4 5JD2
£75K02/210.33 mi4, Beecham Street, Morecambe, Lancashire LA4 5JD2
£135K10/220.33 mi7, Melrose Avenue, Morecambe, Lancashire LA4 5NG2
£122K12/200.33 mi7, Leyster Street, Morecambe, Lancashire LA4 5NE2
£250K09/220.36 mi11, Wakefield Avenue, Morecambe, Lancashire LA4 6DY2
£179.9K11/200.39 mi29, St Margarets Road, Morecambe, Lancashire LA4 6EF2
£312K05/230.39 mi15, Wakefield Avenue, Morecambe, Lancashire LA4 6DY2
£240K10/200.39 mi25, Wakefield Avenue, Morecambe, Lancashire LA4 6DY2
£85K01/230.47 mi5, Stanley Street, Morecambe, Lancashire LA4 5HQ2
£100K01/230.47 mi3, Garnett Street, Morecambe, Lancashire LA4 5HH2
£118K05/230.49 mi44, Schola Green Lane, Morecambe, Lancashire LA4 5QS2
£83K01/210.49 mi51, Schola Green Lane, Morecambe, Lancashire LA4 5QS2
£122.5K07/230.49 mi43, Schola Green Lane, Morecambe, Lancashire LA4 5QS2
£90K03/210.49 mi4, Out Moss Lane, Morecambe, Lancashire LA4 5SZ2
£100K04/210.5 mi5, Rosebery Avenue, Morecambe, Lancashire LA4 5RU2
£106K06/210.5 mi13, Rosebery Avenue, Morecambe, Lancashire LA4 5RU2
£115K12/200.5 mi9, Croft Street, Morecambe, Lancashire LA4 5SS2
£90K12/200.5 mi34, Croft Street, Morecambe, Lancashire LA4 5SS2
£175K05/230.52 mi32, Grasmere Road, Morecambe, Lancashire LA4 6EN2
£199.9K03/210.52 mi20, Grasmere Road, Morecambe, Lancashire LA4 6EN2
£239.8K08/230.52 mi36, Grasmere Road, Morecambe, Lancashire LA4 6EN2
£350K06/230.52 mi42, Mayfield Drive, Morecambe, Lancashire LA4 6EP2
£100K06/230.52 mi51, Buxton Street, Morecambe, Lancashire LA4 5SR2
£108K05/230.52 mi39, Buxton Street, Morecambe, Lancashire LA4 5SR2
£112.5K11/220.54 mi49, Buxton Street, Morecambe, Lancashire LA4 5SR2
£71K11/200.55 mi5, Dudley Street, Morecambe, Lancashire LA4 5SL2
£96K03/230.56 mi214a, Lancaster Road, Morecambe, Lancashire LA4 5TL2
£145K12/200.56 mi84, South Road, Morecambe, Lancashire LA4 6JR2
£125K01/230.57 mi12, Palmer Grove, Morecambe, Lancashire LA4 6BQ2
£233K12/220.57 mi18, Redwood Drive, Morecambe, Lancashire LA4 6TP2
£104K06/210.59 mi10, Tunstall Street, Morecambe, Lancashire LA4 5DX2
£239.9K09/210.59 mi8, The Coppice, Morecambe, Lancashire LA4 6TS2
£225K02/210.59 mi14, The Coppice, Morecambe, Lancashire LA4 6TS2
£222K08/210.6 mi29, Bare Lane, Morecambe, Lancashire LA4 6DE2
£155K11/200.63 mi8, Victor Avenue, Morecambe, Lancashire LA4 6JX2
£299.5K06/210.64 miThe Lodge, 31, Elms Road, Morecambe, Lancashire LA4 6DD2

Local Rents

41 rents from £545/mo to £1.7K/mo, average is £775/mo.

RentDateDistanceAddressBeds 
£82505/240.06 miHazelmere Marine Road East, Morecambe2
£85003/240.13 mi-2
£85003/250.13 mi-2
£80004/250.13 mi-2
£85004/240.13 miArnside Crescent, Morecambe, LA42
£1,25005/240.16 miBroadway One, Dallam Avenue, Morecambe2
£95012/240.17 mi-2
£95012/240.17 mi-2
£79504/240.27 miLeyster Street, Morecambe2
£57501/250.28 mi-2
£77508/240.28 miGleneagles Drive, Morecambe2
£70004/240.28 mi-2
£77507/240.3 miAshton Road, Morecambe2
£77508/240.31 miRose Street, Morecambe2
£77508/240.31 miRose Street, Morecambe2
£77508/240.31 miRose Street, Morecambe2
£1,69003/250.31 mi-2
£1,51704/240.31 mi-2
£95006/240.31 miSt. Christophers Way, Bare, Morecambe2
£54508/240.41 mi-2
£67507/240.43 miQueen Square, Station Road, Morecambe2
£67509/240.43 miQueen Square, Station Road, Morecambe2
£75012/230.44 mi-2
£95007/240.44 miSunnyfield Avenue, Morecambe2
£75007/240.46 miFlat 2 The Channings, 455 Marine Road East, Morecambe, LA4 6AD2
£85004/250.46 mi-2
£72505/240.46 mi6 The Craggs, 457 - 459 Marine Road East, Morecambe2
£65004/240.51 miBack Morecambe Street, Morecambe2
£70007/240.51 mi-2
£85010/240.51 mi-2
£65008/240.51 miEuston Road, Morecambe, Lancashire, LA42
£75007/240.52 miTudor Grove, Morecambe2
£70004/240.53 miSchola Green Lane, Morecambe, Lancashire2
£87507/240.55 miSulby Grove, Morecambe2
£87507/240.55 miSulby Grove, Morecambe2
£70006/240.56 mi-2
£60006/240.56 miCentral Drive, Morecambe, LA42
£72504/240.58 miLansdowne Grove, Morecambe2
£72504/240.58 miLansdowne Grove, Morecambe2
£85007/240.59 miTunstall Street, Morecambe2
£67506/240.61 miNelson Street, Morecambe2

Local Area Statistics

Population in LA4

26,244

Population in Morecambe

50,836

Town centre distance

0.62 miles away

Nearest school

0.10 miles away

Nearest train station

0.68 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+8%

Sales demand

Balanced market

Capital growth (5yrs)

+28%

Property History

Price changed to £194,950

January 3, 2025

Listed for £199,950

October 11, 2024

Floor Plans

Description

Superb two bedroom apartment comprising the third floor of this converted terraced house on the promenade with panoramic sea views across Morecambe Bay to the Lakeland Hills beyond. Conveniently located for Morecambe town centre amenities, train station, 'Bay Gateway' M6 link road and local bus routes. The property has been converted into four apartments and renovated to a high specification throughout and has uPVC double glazed windows and gas central heating. Briefly comprises: communal front entrance and hallway with intercom entry system, staircase to second floor, private entrance and staircase to hallway, open plan lounge/breakfast kitchen, two double bedrooms; one with en-suite shower room and three-piece bathroom. This apartment will appeal to a range of buyers seeking a spacious apartment in a highly sought after location and internal viewings are highly recommended and will certainly not fail to impress.

COMMUNAL FRONT ENTRANCE

Intercom entry system. Outside lights. Composite double glazed front door leading into the communal hallway.

COMMUNAL HALLWAY

Ceiling lights. Staircase leading to the first floor. Steps down to a shared back door leading to the bin storage area.

STAIRCASE TO SECOND FLOOR

PRIVATE ENTRANCE & STAIRCASE TO:

LANDING

Velux double glazed skylight window. Telephone intercom entry system. Built-in storage cupboard housing the 'Biasi' gas combination condensing boiler. Ceiling lights. Power points. Access into the roof space.

OPEN PLAN LOUNGE/BREAKFAST KITCHEN (5.27m average x 4.88m) ( 17'3'' x 16'0'')

Two uPVC double glazed windows to the front elevation with panoramic sea view across Morecambe Bay to the Lakeland Hills. Range of fitted base units, wall units and drawers. Built-in NEUE electric oven, ceramic hob and stainless steel cooker hood with extractor fan and lights. Single bowl sink with mixer tap. Space for integrated fridge freezer. Plumbing and space for integrated dishwasher. Central heating radiator. TV point. Telephone point. Ceiling lights. Wall lights. Power points.

BEDROOM ONE (3.73m x 3.53m) (12'2'' x 11'6'')

uPVC double glazed window to the rear elevation. Central heating radiator. Built-in storage cupboard with power and light. Ceiling light. Power points.

EN-SUITE
Three piece suite in white comprising fully aqua boarded shower cubicle with rainfall and wall mounted shower, mini wash hand basin set into a vanity unit and wc. Chrome vertical heated towel rail. Laminate floor. Wall mounted illuminated mirror with shelf. Ceiling lights. Extractor fan.

BEDROOM TWO (4.31m x 3.75m) ( 14'1'' x 12'3'')

uPVC double glazed window to the rear elevation. Central heating radiator. TV point. Ceiling light. Power points.

BATHROOM (2.74m x 1.79m) ( 8'11'' x 5'10'')

Three piece suite in white comprising bath with wall mounted and rainfall shower over, wash hand basin set into a vanity unit and wc. uPVC double glazed window to the side elevation. Chrome vertical heated towel rail. Built-in storage cupboard with plumbing for washing machine and space for tumble dryer above. Laminate floor. Ceiling lights and extractor fan.

TENURE Leasehold - 125 years from 2022. Management fee payable to Parkinson Property - TBC (approx. £80 p.c.m.)

SERVICES

Mains water, mains drainage, mains electricity, mains gas. Local Authority Lancaster City Council. Council Tax Band A.

Council Tax Band: (Lancaster City Council)
Tenure: Leasehold (125 years)

Agent Details

ibay Homes, Morecambe

01524 952012

Next Steps?

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