2 Bed Bungalow, Planning Permission, Morecambe, LA3 2TA, £185,000





ValuationOvervalued
Sold Prices | £102K - £270K |
Sold Prices/m² | £1.4K/m² - £3.1K/m² |
| |
Square Metres | ~68.11 m² |
Price/m² | £2.7K/m² |
Value Estimate | £150,766 |
| |
End Value (After Refurb) | £183,500 |
Investment Opportunity
Cash In | |
Purchase Finance | Bridging Loan |
Deposit (25%) | £46,250 |
Stamp Duty & Legal Fees | £10,450 |
Refurb Costs | £27,537 |
Bridging Loan Interest | £4,856 |
Total Cash In | £90,844 |
| |
Cash Out | |
Monetisation | FlipRefinance & Rent |
Revaluation | £183,500 |
Mortgage (After Refinance) | £137,625 |
Mortgage LTV | 75% |
Cash Left In | £90,844 |
Equity | £45,875 |
Rent Range | £600 - £825 |
Rent Estimate | £724 |
Running Costs/mo | £738 |
Cashflow/mo | £-14 |
Cashflow/yr | £-171 |
Gross Yield | 5% |
Local Sold Prices
23 sold prices from £102K to £270K, average is £163K. £1.4K/m² to £3.1K/m², average is £2.2K/m².
Local Rents
14 rents from £600/mo to £825/mo, average is £675/mo.
Local Area Statistics
Population in LA3 | 24,587 |
Population in Morecambe | 50,836 |
Town centre distance | 2.84 miles away |
Nearest school | 0.20 miles away |
Nearest train station | 0.56 miles away |
| |
Rental growth (12m) | -2% |
Sales demand | Buyer's market |
Capital growth (5yrs) | +31% |
Property History
Price changed to £185,000
December 27, 2024
Listed for £195,000
November 5, 2024
Floor Plans

Description
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