3 Bed Terraced House, Refurb/BRRR, Lancaster, LA1 3PS, £175,000

Ullswater Road, Lancaster, Lancashire, LA1 3PS - 3 views - 6 months ago

Sold STC
Refurb/BRRR
ROI: 2%
~93 m²
+12 photos

ValuationUndervalued

Sold Prices£80K - £380K
Sold Prices/m²£909/m² - £3.8K/m²

 

 

Square Metres

~93 m²
Price/m²£1.9K/m²

Value Estimate

£180,749

 

 

End Value (After Refurb)

£225,087

Uplift in Value

+20%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£43,750

Stamp Duty & Legal Fees

£6,810

Refurb Costs

£37,600

Bridging Loan Interest

£4,594

Total Cash In

£94,504

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£225,087

Mortgage (After Refinance)

£168,815

Mortgage LTV

75%

Cash Released

£37,565

Cash Left In

£56,939

Equity

£56,272

Rent Range

£607 - £2,492

Rent Estimate

£1,141

Running Costs/mo

£952

Cashflow/mo

£189

Cashflow/yr

£2,273

ROI

2%

Gross Yield

8%

Local Sold Prices

50 sold prices from £80K to £380K, average is £170K. £909/m² to £3.8K/m², average is £2.1K/m².

PriceDateDistanceAddressBeds 
£256.5K11/210 mi84, Ullswater Road, Lancaster, Lancashire LA1 3PS3
£195K06/210 mi66, Ullswater Road, Lancaster, Lancashire LA1 3PS3
£145K09/230.06 mi24, Williamson Road, Lancaster, Lancashire LA1 3QA3
£265K11/200.08 mi16, Ullswater Road, Lancaster, Lancashire LA1 3PP3
£270K08/230.08 mi15, Ullswater Road, Lancaster, Lancashire LA1 3PP3
£242K08/210.08 mi84, Grasmere Road, Lancaster, Lancashire LA1 3HB3
£125K04/230.1 mi17, Park Square, Lancaster, Lancashire LA1 3EH3
£259K12/200.1 mi22, Rydal Road, Lancaster, Lancashire LA1 3HA3
£143K06/210.12 mi17, Wolseley Street, Lancaster, Lancashire LA1 3PH3
£167K03/210.12 mi91, Windermere Road, Lancaster, Lancashire LA1 3EZ3
£241K04/230.12 mi80, Windermere Road, Lancaster, Lancashire LA1 3EZ3
£200K10/230.12 mi10, Borrowdale Road, Lancaster, Lancashire LA1 3PW3
£160K06/230.13 mi20, Moor Close, Lancaster, Lancashire LA1 3QP3
£152.5K11/230.13 mi27, Moor Close, Lancaster, Lancashire LA1 3QP3
£290K09/230.14 mi33, Windermere Road, Lancaster, Lancashire LA1 3EX3
£139K06/230.15 mi9, St Peters Mews, Lancaster, Lancashire LA1 3QR3
£80K07/230.16 mi25, Alfred Street, Lancaster, Lancashire LA1 1QN3
£185K07/210.17 mi22, Kentmere Road, Lancaster, Lancashire LA1 3JS3
£190K03/230.17 mi5, Kentmere Road, Lancaster, Lancashire LA1 3HG3
£219.9K03/230.19 mi21, Troutbeck Road, Lancaster, Lancashire LA1 3HQ3
£136.5K07/210.19 mi22, Troutbeck Road, Lancaster, Lancashire LA1 3HQ3
£140K01/230.23 mi22, Hinde Street, Lancaster, Lancashire LA1 1DX3
£178K03/230.26 mi2, Argyle Street, Lancaster, Lancashire LA1 3DD3
£265K04/230.27 mi22, Dumbarton Road, Lancaster, Lancashire LA1 3BX3
£170K02/230.28 mi18, Argyle Street, Lancaster, Lancashire LA1 3DD3
£143K04/230.28 mi6, Elgin Street, Lancaster, Lancashire LA1 3DG3
£170K05/230.29 mi55, Gregson Road, Lancaster, Lancashire LA1 3DH3
£169.9K03/210.29 mi51, Kirkes Road, Lancaster, Lancashire LA1 3DW3
£270K10/210.34 mi36, Esthwaite Gardens, Lancaster, Lancashire LA1 3RG3
£280K11/230.34 mi7, Esthwaite Gardens, Lancaster, Lancashire LA1 3RG3
£235K03/230.34 mi3, Esthwaite Gardens, Lancaster, Lancashire LA1 3RG3
£235K03/210.34 mi17, Esthwaite Gardens, Lancaster, Lancashire LA1 3RG3
£156K03/230.42 mi68, Ambleside Road, Lancaster, Lancashire LA1 3HT3
£145K02/230.42 mi24, Ambleside Road, Lancaster, Lancashire LA1 3HT3
£173K02/230.42 mi3, Bradshaw Street, Lancaster, Lancashire LA1 3BE3
£150K12/200.43 mi73, Clarence Street, Lancaster, Lancashire LA1 3BB3
£290K10/210.43 mi13, Park Avenue, Lancaster, Lancashire LA1 3DX3
£250K11/200.43 mi16, Park Avenue, Lancaster, Lancashire LA1 3DX3
£200K02/230.44 mi9, Tower Court, Lancaster, Lancashire LA1 4XH3
£145K04/230.44 mi1, Langdale Road, Lancaster, Lancashire LA1 3NT3
£117K07/210.46 mi53, Crag Road, Lancaster, Lancashire LA1 3LS3
£149.9K03/210.46 mi29, Crag Road, Lancaster, Lancashire LA1 3LS3
£130K01/210.46 mi47, Crag Road, Lancaster, Lancashire LA1 3LS3
£135K11/200.48 mi19, Eastham Street, Lancaster, Lancashire LA1 3AY3
£155K12/220.5 mi4, Middle Street, Lancaster, Lancashire LA1 1JZ3
£162K02/240.5 mi80, Patterdale Road, Lancaster, Lancashire LA1 3HS3
£380K06/230.52 mi5, Castle Hill, Lancaster, Lancashire LA1 1YS3
£158K04/210.53 mi12, Chelsea Mews, Lancaster, Lancashire LA1 2AS3
£180K09/230.53 mi17, Chelsea Mews, Lancaster, Lancashire LA1 2AS3
£145K03/230.55 mi38, Lyth Road, Lancaster, Lancashire LA1 3LP3

Local Rents

24 rents from £607/mo to £2.5K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£95004/240.21 miBalmoral Road, Lancaster, LA13
£1,10005/240.21 miBalmoral Road, Lancaster3
£1,50008/230.27 mi-3
£1,40004/240.27 mi-3
£1,25007/240.27 mi-3
£1,10009/240.27 mi-3
£85005/240.28 miKirkes Road, Lancaster, LA13
£1,75012/240.3 mi-3
£1,05003/240.31 mi-3
£1,05004/240.31 miAberdeen Road, Lancaster, LA13
£1,05002/240.31 mi-3
£90006/240.31 mi-3
£90005/240.31 miCromwell Building, Lancaster, LA13
£95005/240.31 miCromwell Building, Lancaster, LA13
£85012/240.31 mi-3
£65004/240.32 miCable Street, Lancaster, LA13
£79504/240.44 miTower Court, Lancaster, LA13
£97504/240.46 miEllwood Square, Lancaster3
£2,27505/240.5 mi-3
£2,49202/250.5 mi-3
£60704/240.54 miSt. Georges Quay, Lancaster, LA13
£79504/240.56 miHarrier Court, Fenton Street, Lancaster3
£1,10002/240.58 miSt George's Quay, Lancaster, LA13
£1,20003/250.61 mi-3

Local Area Statistics

Population in LA1

52,095

Population in Lancaster

74,075

Town centre distance

1 miles away

Nearest school

0.20 miles away

Nearest train station

0.68 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+34%

Sales demand

Balanced market

Capital growth (5yrs)

+16%

Property History

Price changed to £175,000

December 26, 2024

Listed for £187,000

October 14, 2024

Floor Plans

Description

  • Three double bedroom terraced house +
  • Requires modernisation but has lots of potential +
  • Two reception rooms +
  • Rear garden and access to Bath Street +
  • Potential for adding garage or car port +
  • Eaves storge which could be utilised +
  • Sold with no chain delay +

An unpolished diamond awaiting its new lease of life! This mid-terraced stone property offers incredible potential to be transformed into a stunning family home. Spread over three floors, the accommodation boasts ample space for creativity and renovation.

On the ground floor, you’ll find two spacious reception rooms and a small kitchen, offering opportunities to redesign and expand. The first floor features two generously sized double bedrooms, while the top floor presents a further double bedroom, a bathroom, and an eaves area which could be used either for storage or to utilise in any upgrades the new owner may plan (subject to relevant permissions required).

To the rear, the west-facing garden is a substantial size and provides great potential for landscaping, extending the ground floor accommodation, or crafting a beautiful outdoor sanctuary. There’s also the convenience of rear gate access leading directly out to Bath Street. The garden has the potential to house a garage or car port which would be accessed from here.
While the property currently lacks central heating and requires modernisation, it is situated in a highly sought-after location. Close to Lancaster City Centre, Williamson Park, and the prestigious Boys’ Grammar School, this home is perfectly placed for families looking to settle in a prime area.

Offered chain-free and at a fair market price, this house is ready for its next chapter. A fantastic opportunity for those with vision to bring it back to its former glory!

Agent Details

Entwistle Green, Lancaster

01524 938270

Next Steps?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪