2 Bed Semi-Detached House, Refurb/BRRR, Preston, PR5 0RT, £245,000

Gib Lane, Hoghton, Preston, PR5 0RT - 6 views - 5 months ago

Sold STC
Refurb/BRRR
ROI: 4%
~68 m²
+16 photos

ValuationOvervalued

Sold Prices£90K - £580K
Sold Prices/m²£1.2K/m² - £4.9K/m²

 

 

Square Metres

~68.11 m²
Price/m²£3.6K/m²

Value Estimate

£140,766

 

 

End Value (After Refurb)

£225,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£61,250

Stamp Duty & Legal Fees

£8,550

Refurb Costs

£28,876

Bridging Loan Interest

£6,431

Total Cash In

£106,858

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£225,000

Mortgage (After Refinance)

£168,750

Mortgage LTV

75%

Cash Left In

£106,858

Equity

£56,250

Rent Range

£595 - £3,500

Rent Estimate

£1,297

Running Costs/mo

£983

Cashflow/mo

£314

Cashflow/yr

£3,774

ROI

4%

Gross Yield

6%

Local Sold Prices

23 sold prices from £90K to £580K, average is £158K. £1.2K/m² to £4.9K/m², average is £2.1K/m².

PriceDateDistanceAddressBeds 
£175K03/210.01 mi4, Bell Villas, Hoghton, Preston, Lancashire PR5 0RT2
£580K02/210.42 mi4, Station Road, Hoghton, Preston, Lancashire PR5 0DD2
£225K04/210.63 miHoneysuckle Cottage, 10, Long Barn Row, Hoghton, Preston, Lancashire PR5 0SA2
£200K02/211.2 mi2, Methuen Avenue, Hoghton, Preston, Lancashire PR5 0JN2
£145K09/231.2 mi3, Methuen Avenue, Hoghton, Preston, Lancashire PR5 0JN2
£190K03/211.24 mi28, Knowsley Close, Hoghton, Preston, Lancashire PR5 0EA2
£210K09/211.24 mi36, Fox Lane, Hoghton, Preston, Lancashire PR5 0JQ2
£157.5K07/231.28 mi63, Arrowsmith Drive, Hoghton, Preston, Lancashire PR5 0DT2
£125K11/201.3 mi14, Mintholme Avenue, Hoghton, Preston, Lancashire PR5 0DY2
£265K10/201.34 mi49, Coupe Green, Hoghton, Preston, Lancashire PR5 0JR2
£130K09/211.4 mi343, Gregson Lane, Hoghton, Preston, Lancashire PR5 0FD2
£180K01/211.41 mi8, Lowick Close, Hoghton, Preston, Lancashire PR5 0HH2
£240K06/231.44 mi1, Lydric Avenue, Hoghton, Preston, Lancashire PR5 0JU2
£158K02/231.44 mi43, Grange Drive, Hoghton, Preston, Lancashire PR5 0LP2
£135K01/211.45 mi95, Bournes Row, Hoghton, Preston, Lancashire PR5 0DR2
£126K03/211.45 mi79, Bournes Row, Hoghton, Preston, Lancashire PR5 0DR2
£150K03/211.47 mi117, Bournes Row, Hoghton, Preston, Lancashire PR5 0DQ2
£95K06/211.49 mi14, Alma Row, Hoghton, Preston, Lancashire PR5 0EB2
£90K02/211.49 mi24, Alma Row, Hoghton, Preston, Lancashire PR5 0EB2
£137.5K10/231.51 mi1, Conway Court, Hoghton, Preston, Lancashire PR5 0EP2
£180K07/231.59 mi6, Willow Close, Hoghton, Preston, Lancashire PR5 0AR2
£200K03/211.9 miHolly Tree House, Pleasington Lane, Pleasington, Blackburn, Blackburn With Darwen BB2 5JH2
£147K03/211.93 mi96, Hoghton Lane, Higher Walton, Preston, Lancashire PR5 4ED2

Local Rents

28 rents from £595/mo to £3.5K/mo, average is £963/mo.

RentDateDistanceAddressBeds 
£1,50012/240.57 miChapel Lane Farm House, Chapel Lane, Hoghton4
£3,25012/241.16 miBrookhouse Drive, Marklands, Lostock Hall, Preston, PR55
£2,60012/241.16 miBrookhouse Drive, Marklands, Lostock Hall, Preston, PR54
£85006/241.28 miArrowsmith Drive, Hoghton2
£97512/241.33 mi-3
£1,50006/241.39 miBlue Slate Fold, Samlesbury4
£90006/241.41 miLowick Close, Hoghton, Preston, PR52
£87512/241.44 miGrange Drive, Hoghton, Preston, Lancashire, PR52
£79510/231.49 miAlma Row, Preston, Lancashire, PR52
£1,20012/241.51 mi-3
£1,00006/241.52 mi-3
£1,10012/241.52 miAlder Drive, Hoghton3
£95006/241.54 miBankhead Lane, Hoghton, Preston, PR53
£92506/241.6 miAldersleigh Crescent, Hoghton, Preston, PR52
£1,25003/251.77 mi-3
£3,50012/242.01 miLinks Lane, Pleasington, Blackburn4
£59506/242.01 miAshtree Court, Higher Walton1
£72512/242.2 mi-2
£72510/242.2 mi-2
£69502/252.25 mi-2
£67512/242.25 miAlbert Terrace Higher Walton PR5 4DT2
£75012/242.26 miLark Hill, Higher Walton2
£82506/242.3 miKittlingbourne Brow, Higher Walton, Preston2
£2,40012/242.31 mi-5
£99512/242.32 miOak Leaf Drive, Bamber Bridge3
£70012/242.32 miKIttlingbourne Brow, Higher Walton, Preston, PR52
£1,25012/242.36 miBrindle Road, Bamber Bridge, Preston, Lancashire, PR54
£1,60006/242.39 miSussex Close, Bamber Bridge, Preston, Lancashire, PR54

Local Area Statistics

Population in PR5

40,828

Population in Preston

286,036

Town centre distance

4.61 miles away

Nearest school

1.30 miles away

Nearest train station

1.90 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+1%

Sales demand

Balanced market

Capital growth (5yrs)

+14%

Property History

Listed for £245,000

November 3, 2024

Floor Plans

Description

  • Unique 1930's semi--detached home - Freehold - Chain Free +
  • Surrounded by stunning countryside +
  • Desirable Gib Lane location +
  • Large private rear garden with countryside views +
  • Mature front garden with a large driveway +
  • In need of some modernisation - idea project home +
  • Two double bedrooms +
  • Large kitchen/diner +
  • Large orangery/garden room +
  • Modern three piece bathroom with walk-in shower unit +

Attention investors! This 1930's semi-detached home, nestled on a generous plot along desirable Gib Lane in Hoghton, offers an incredible opportunity for those looking to modernize and add personal touches. Surrounded by stunning countryside, this charming property presents endless possibilities to create the perfect space in a peaceful location. Upon entering, a welcoming entrance hall leads you to a comfortable lounge, complete with a feature fireplace that adds warmth and character to the space. Moving through, youll find an open-plan kitchen and dining area, equipped with a good selection of wall and base units, and a convenient storage cupboard. At the rear, a large orangery/garden room offers flexible living space; theres potential to knock down the wall between the kitchen and orangery to create a spacious open-plan kitchen, dining, and family room. Ascending to the first floor, the property features two well-sized double bedrooms. One of the bedrooms includes fitted wardrobes and a handy storage closet, maximizing storage options. The large three-piece family bathroom is equipped with a modern walk-in shower unit and a storage cupboard for added convenience. Externally, the property benefits from mature landscaping, with a sizable front garden and a paved driveway offering ample parking space for several vehicles. To the rear, the large, private south-west-facing garden is a true highlight, overlooking peaceful countryside and extending towards views of the Fylde coast. The outdoor space provides a blank canvas with fantastic potential for garden design, entertaining, or simply relaxing amidst beautiful surroundings.

If youre searching for a project property to make your own, this inviting 1930's home offers the ideal foundation in a serene, highly sought-after setting. Dont miss the chance to turn this lovely home into your dream property! 

Room sizes can be found on the floor plan, schedule a viewing today.

We understand that the council tax band for this property is band B.

Tenure - Freehold - Chain Free   

For further information please call Forbes Estates.

Disclaimer, further room dimensions can be found on our floor plan. These particulars, whilst we believe to be accurate are set as a general outline only for guidance and do not constitute any part of an offer or contract, all appliances, drains, plumbing and heating have not been tested. All measurements quoted are approximate. Property to sell? If you are thinking of selling your home Forbes offer a free no obligation appraisal with local experienced sales advice.

Agent Details

Forbes Estates, Clayton-le-Woods

01257 445716

Next Steps?

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