3 Bed Semi-Detached House, Refurb/BRRR, Luton, LU3 2PT, £340,000

Westmorland Avenue, Luton, Bedfordshire, LU3 2PT - 3 views - 2 months ago

Refurb/BRRR
ROI: 1%
~93 m²
+10 photos

ValuationFair Value

Sold Prices£210K - £440K
Sold Prices/m²£2.2K/m² - £4.4K/m²

 

 

Square Metres

~93 m²
Price/m²£3.7K/m²

Value Estimate

£336,095

 

 

End Value (After Refurb)

£336,231

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£85,000

Stamp Duty & Legal Fees

£15,900

Refurb Costs

£44,240

Bridging Loan Interest

£8,925

Total Cash In

£155,815

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£336,231

Mortgage (After Refinance)

£252,173

Mortgage LTV

75%

Cash Left In

£155,815

Equity

£84,058

Rent Range

£1,350 - £1,800

Rent Estimate

£1,520

Running Costs/mo

£1,375

Cashflow/mo

£145

Cashflow/yr

£1,743

ROI

1%

Gross Yield

5%

Local Sold Prices

50 sold prices from £210K to £440K, average is £316K. £2.2K/m² to £4.4K/m², average is £3.6K/m².

PriceDateDistanceAddressBeds 
£330K11/230.01 mi141, Westmorland Avenue, Luton LU3 2PT3
£265K06/210.08 mi29, Windermere Crescent, Luton LU3 2PR3
£305K01/210.08 mi17, Windermere Crescent, Luton LU3 2PR3
£317K01/210.08 mi10, Windermere Crescent, Luton LU3 2PR3
£320K10/210.11 mi101, Westmorland Avenue, Luton LU3 2PS3
£320K10/210.12 mi101, Westmorland Avenue, Luton LU3 2PS3
£350K11/210.13 mi21, Bunyans Close, Luton LU3 2PX3
£360K12/230.15 mi71, Limbury Road, Luton LU3 2PJ3
£440K11/230.15 mi14, Hadlow Down Close, Luton LU3 2PY3
£320K10/210.15 mi131, Limbury Road, Luton LU3 2PJ3
£325K06/210.15 mi31, Bosmore Road, Luton LU3 2TR3
£340K05/240.17 mi15, Watermead Road, Luton LU3 2TB3
£355K12/200.18 mi52, Bosmore Road, Luton LU3 2TS3
£285K06/210.18 mi10, Bosmore Road, Luton LU3 2TS3
£260K01/210.22 mi16, Hurst Way, Luton LU3 2SQ3
£235K02/210.22 mi34, Hurst Way, Luton LU3 2SQ3
£265K05/240.22 mi14, Hurst Way, Luton LU3 2SQ3
£298K03/230.22 mi6, Hurst Way, Luton LU3 2SQ3
£325K10/210.23 mi152, Limbury Road, Luton LU3 2PN3
£323K05/210.23 mi65, Stanmore Crescent, Luton LU3 2RJ3
£310K12/200.23 mi16, Stanmore Crescent, Luton LU3 2RJ3
£315K06/210.23 mi11, Stanmore Crescent, Luton LU3 2RJ3
£322.5K05/210.23 mi28, Stanmore Crescent, Luton LU3 2RJ3
£350K02/230.23 mi78, Neville Road, Luton LU3 2JJ3
£355K02/230.25 mi4, Neville Road, Luton LU3 2JQ3
£315K02/240.25 mi32, The Close, Luton LU3 2LR3
£293K12/200.26 mi19, Calverton Road, Luton LU3 2SY3
£375K06/230.26 mi78, Willow Way, Luton LU3 2SD3
£260K03/210.26 mi84, Willow Way, Luton LU3 2SD3
£350K11/210.26 mi45, Calverton Road, Luton LU3 2SY3
£290K01/210.27 mi28, Riverside Road, Luton LU3 2LY3
£260K01/210.27 mi16, Hurst Way, Luton LU3 2SQ3
£252K12/200.27 mi75, Willow Way, Luton LU3 2SA3
£265K04/210.28 mi165, Gardenia Avenue, Luton LU3 2NR3
£340K02/230.28 mi9, Carsdale Close, Luton LU3 2TA3
£285K11/230.29 mi84, Gardenia Avenue, Luton LU3 2NT3
£210K12/200.3 mi15, Norton Road, Luton LU3 2NX3
£381K02/230.32 mi25, Kingsley Road, Luton LU3 2LS3
£217K02/210.32 mi30, Runfold Avenue, Luton LU3 2EH3
£340K11/230.33 mi56, Weltmore Road, Luton LU3 2TN3
£365K06/240.33 mi71, Weltmore Road, Luton LU3 2TN3
£250K06/210.33 mi52, Weltmore Road, Luton LU3 2TN3
£318K06/210.33 mi49, Weltmore Road, Luton LU3 2TN3
£230K09/210.33 mi71, Trinity Road, Luton LU3 2LN3
£280K09/210.33 mi28, River Way, Luton LU3 2SE3
£285K10/210.33 mi8, River Way, Luton LU3 2SE3
£260K12/200.33 mi36, River Way, Luton LU3 2SE3
£245K07/210.33 mi31, River Way, Luton LU3 2SE3
£330K12/210.34 mi64, Gardenia Avenue, Luton LU3 2NS3
£340K03/230.34 mi73, Weltmore Road, Luton LU3 2TN3

Local Rents

31 rents from £1.4K/mo to £1.8K/mo, average is £1.6K/mo.

RentDateDistanceAddressBeds 
£1,60005/240.13 miConiston Road, Luton, Bedfordshire, LU33
£1,70012/240.15 mi-3
£1,60005/240.17 miLimbury Road, Luton3
£1,50005/240.18 miBosmore Road, LIMBURY, LU33
£1,70012/240.18 mi-3
£1,70012/240.18 mi-3
£1,70001/250.18 mi-3
£1,69501/250.18 mi-3
£1,67512/240.18 mi-3
£1,50005/240.2 miNeville Road, Luton, Bedfordshire, LU3 2JG3
£1,60012/240.26 mi-3
£1,45005/240.27 miWillow Way, Luton3
£1,50006/240.28 miGardenia Avenue, Leagrave, Luton, LU33
£1,80012/240.28 mi-3
£1,40006/240.29 miRiver Way, Luton, Bedfordshire, LU33
£1,40006/240.29 miRiver Way, Luton, Bedfordshire, LU33
£1,40006/240.29 miRiver Way, Luton, Bedfordshire, LU33
£1,60005/240.38 miMarsh Road, Luton, Bedfordshire, LU33
£1,55005/240.39 miMarsh Road, LUTON3
£1,50005/240.41 miBramingham Road Luton LU3 2SL3
£1,50005/240.41 miBramingham Road, LUTON3
£1,45005/240.43 miDordans Road, Luton, Bedfordshire, LU43
£1,40005/240.45 mi-3
£1,35005/240.45 mi-3
£1,70001/250.54 mi-3
£1,40005/240.57 miWoodbridge Close, Luton3
£1,75012/240.59 mi-3
£1,70003/240.6 miShanklin Close, Luton3
£1,70012/240.6 mi-3
£1,70006/240.6 miReeves Avenue, Luton, LU33
£1,50005/240.61 miTrent Road,Leagrave,Luton,LU33

Local Area Statistics

Population in LU3

61,423

Population in Luton

212,905

Town centre distance

1.54 miles away

Nearest school

0.30 miles away

Nearest train station

0.48 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+26%

Sales demand

Balanced market

Capital growth (5yrs)

+22%

Property History

Listed for £340,000

October 31, 2024

Floor Plans

Description

CHAIN FREE | LIMBURY CATCHMENT | EXTENDED | SOUGHT AFTER LOCATION

This is an excellent opportunity for buyers looking for a property in the highly sought after Limbury catchment area. This property is perfect for those looking for a three bedroom home with potential to extend at an affordable price.

The property greets you with an entrance hall that leads off to the through lounge/diner and extended kitchen to the rear of the property. The private rear garden is of an excellent size and can be accessed via the rear door in the kitchen as well as the patio doors from the reception room.

The first floor consists of three good sized bedrooms and recently refitted family bathroom which all share the ample, well-lit, landing.

Overall, the property is in good order but needs modernisation making it suitable for those looking for a home to put their own stamp on. Additional features include the paved driveway to the front of the property.

The location is also key as it is a commuter’s dream located on the quiet and rarely available Westmorland Avenue, just approximately ten/fifteen minutes walk from Leagrave Train Station. Benefitting from Icknield High School catchment and walking distance to the plethora of shops, eateries, NHS facilities and parks, this family home is ideally placed to fill a multitude of needs - making it a perfect starter home for first time buyers.

Agent Details

Taylors Estate Agents, Leagrave

01582 377100

Next Steps?

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