2 Bed Flat, Single Let, Morecambe, LA4 6NL, £117,500

Old Hall Close, Torrisholme, Morecambe, LA4 6NL - 5 months ago

Sold STC
Leasehold
BTL
ROI: 5%
~58 m²
+2 photos

ValuationOvervalued

Sold Prices£58K - £259K
Sold Prices/m²£868/m² - £3.6K/m²

 

 

Square Metres

~57.90 m²
Price/m²£2K/m²

Value Estimate

£99,513

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£29,375

Stamp Duty & Legal Fees

£7,075

Total Cash In

£36,450

 

 

Cash Out

 

Rent Range

£575 - £1,750

Rent Estimate

£681

Running Costs/mo

£523

Cashflow/mo

£158

Cashflow/yr

£1,891

ROI

5%

Gross Yield

7%

Local Sold Prices

50 sold prices from £58K to £259K, average is £104K. £868/m² to £3.6K/m², average is £1.7K/m².

PriceDateDistanceAddressBeds 
£92.5K10/220 mi28, Old Hall Close, Morecambe, Lancashire LA4 6NL2
£99K02/230 mi2, Old Hall Close, Morecambe, Lancashire LA4 6NL2
£80K12/200 mi23, Old Hall Close, Morecambe, Lancashire LA4 6NL2
£93.3K12/200 mi37, Old Hall Close, Morecambe, Lancashire LA4 6NL2
£95K06/210 mi1, Old Hall Close, Morecambe, Lancashire LA4 6NL2
£75K02/210 mi18, Old Hall Close, Morecambe, Lancashire LA4 6NL2
£77K12/200 mi33, Old Hall Close, Morecambe, Lancashire LA4 6NL2
£79.5K12/200 mi36, Old Hall Close, Morecambe, Lancashire LA4 6NL2
£105K10/220 mi11, Old Hall Close, Morecambe, Lancashire LA4 6NL2
£105K12/220.02 mi34, Old Hall Close, Morecambe, Lancashire LA4 6NL2
£120K12/220.04 mi10, Dallas Court, Morecambe, Lancashire LA4 6NN2
£259K08/210.15 mi58, Slyne Road, Morecambe, Lancashire LA4 6PD2
£227K12/200.28 mi29, Brampton Drive, Morecambe, Lancashire LA4 6QS2
£103K03/210.3 mi3, Stanhope Court, Morecambe, Lancashire LA3 3AF2
£155K09/220.34 miFlat 1, Princes Gardens, Bare Lane, Morecambe, Lancashire LA4 6RS2
£135K10/210.35 mi4, Walton Avenue, Morecambe, Lancashire LA4 6SH2
£250K11/200.43 mi7, Sizergh Road, Morecambe, Lancashire LA4 6TL2
£58K12/200.44 mi10, Monkswood Avenue, Morecambe, Lancashire LA4 6TW2
£120K10/220.46 mi2, Braemar Court, Morecambe, Lancashire LA4 5YB2
£109K10/210.5 mi11, Braemar Court, Morecambe, Lancashire LA4 5YB2
£89K01/210.51 mi18, Leycester Drive, Lancaster, Lancashire LA1 5HW2
£142K03/230.52 mi3, Fairlea Avenue, Morecambe, Lancashire LA4 6JY2
£90K07/210.55 mi14, Wenning Court, Morecambe, Lancashire LA3 3SH2
£89K11/200.55 mi23, Wenning Court, Morecambe, Lancashire LA3 3SH2
£155K11/220.66 mi7, Hatfield Court, Morecambe, Lancashire LA4 6RQ2
£140K06/210.66 mi2, Hatfield Court, Morecambe, Lancashire LA4 6RQ2
£80K11/200.66 mi52, Watery Lane, Lancaster, Lancashire LA1 2SL2
£80K11/200.67 mi52, Watery Lane, Lancaster, Lancashire LA1 2SL2
£108K11/220.67 mi38, Ennerdale Avenue, Morecambe, Lancashire LA4 5UQ2
£100K11/210.67 mi14, Nicholson Crescent, Morecambe, Lancashire LA4 6UE2
£122K10/200.67 mi2a, Sulby Grove, Morecambe, Lancashire LA4 6HD2
£63K08/210.7 mi6, Lancambe Court, Lancaster, Lancashire LA1 5TG2
£82.5K05/210.7 mi23, Lancambe Court, Lancaster, Lancashire LA1 5TG2
£70K02/210.7 mi28, Lancambe Court, Lancaster, Lancashire LA1 5TG2
£90K02/230.71 mi27, Clarence Court, Morecambe, Lancashire LA4 6DL2
£98K05/230.71 mi17, Clarence Court, Morecambe, Lancashire LA4 6DL2
£124K03/230.72 mi212, Lancaster Road, Morecambe, Lancashire LA4 5TL2
£244K06/210.75 mi11, Chestnut Drive, Morecambe, Lancashire LA4 6HN2
£79K01/210.78 mi17, Greenset Close, Lancaster, Lancashire LA1 2PN2
£88K06/230.78 mi7, Greenset Close, Lancaster, Lancashire LA1 2PN2
£130K02/210.78 miFlat 11, Kensington Court, Bare Lane, Morecambe, Lancashire LA4 6DH2
£65K07/210.79 mi26, Stuart Avenue, Morecambe, Lancashire LA4 6EB2
£130K11/220.8 miFlat 9, Kensington Court, Bare Lane, Morecambe, Lancashire LA4 6DH2
£125K05/230.81 mi16, Palmer Grove, Morecambe, Lancashire LA4 6BQ2
£125K05/230.81 mi15, Palmer Grove, Morecambe, Lancashire LA4 6BQ2
£120K11/220.81 mi3, Tudor Grove, Morecambe, Lancashire LA4 6DP2
£184K05/230.85 mi18, The Parks, Morecambe, Lancashire LA4 6BP2
£207K06/210.85 mi23, The Parks, Morecambe, Lancashire LA4 6BP2
£165K03/210.85 mi8, The Parks, Morecambe, Lancashire LA4 6BP2
£62.5K11/200.86 miFlat 3, Homebreeze House, Beach Street, Morecambe, Lancashire LA4 6BT2

Local Rents

45 rents from £575/mo to £1.8K/mo, average is £825/mo.

RentDateDistanceAddressBeds 
£80008/240.14 miLancaster Road, Torrisholme, Morecambe2
£75008/240.52 miLoweswater Drive, Morecambe2
£85005/240.52 miAnstable Road, Morecambe2
£75009/240.54 mi-2
£75008/240.54 miMorecambe, Morecambe, LA32
£90005/240.58 miWillow Grove, Morecambe2
£90011/240.59 mi-2
£87507/240.73 miSulby Grove, Morecambe2
£87507/240.73 miSulby Grove, Morecambe2
£95007/240.78 miSunnyfield Avenue, Morecambe2
£70007/240.81 mi-2
£85010/240.81 mi-2
£75007/240.82 miTudor Grove, Morecambe2
£77505/240.85 miLeamington Road, Westgate, Morecambe2
£77508/240.86 miGleneagles Drive, Morecambe2
£85004/250.89 mi-2
£72504/240.89 miLansdowne Grove, Morecambe2
£72504/240.89 miLansdowne Grove, Morecambe2
£95006/240.92 miSt. Christophers Way, Bare, Morecambe2
£75007/240.92 miFlat 2 The Channings, 455 Marine Road East, Morecambe, LA4 6AD2
£75007/240.93 miElm Grove, Bare, Morecambe, Lancashire2
£72505/240.93 mi6 The Craggs, 457 - 459 Marine Road East, Morecambe2
£65005/240.96 miBeaumont Park, Lancaster, LA12
£1,25005/241.02 miBroadway One, Dallam Avenue, Morecambe2
£79504/241.07 miLeyster Street, Morecambe2
£87502/241.08 mi-2
£95012/241.1 mi-2
£95012/241.1 mi-2
£85003/241.1 mi-2
£85003/251.1 mi-2
£80004/251.1 mi-2
£85004/241.1 miArnside Crescent, Morecambe, LA42
£95006/241.12 miNew Quay Road, Lancaster2
£82505/241.15 miHazelmere Marine Road East, Morecambe2
£77507/241.15 miAshton Road, Morecambe2
£95005/241.18 mi-2
£57501/251.18 mi-2
£70004/241.19 mi-2
£1,75012/241.19 mi-2
£80005/241.19 mi-2
£75012/231.21 mi-2
£99512/241.21 mi-2
£85005/241.21 miCowdrey Mews, Lancaster, LA12
£67504/241.23 miAtherton Road, Lancaster, LA12
£92506/241.23 miDorchester Gardens, Westgate, Morecambe, Lancashire, LA32

Local Area Statistics

Population in LA4

26,244

Population in Morecambe

50,836

Town centre distance

1.16 miles away

Nearest school

0.20 miles away

Nearest train station

0.60 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+8%

Sales demand

Balanced market

Capital growth (5yrs)

+28%

Property History

Price changed to £117,500

February 28, 2025

Price changed to £119,950

January 3, 2025

Listed for £122,950

November 13, 2024

Floor Plans

Description

  • 2 Bed First Floor Apartment +
  • Communal Parking +
  • Double Glazing +
  • Gas Central Heating +
  • In Good Condition Throughout +
  • NO CHAIN +
  • Would Suit 1st Time Buyers or Investors +

We are delighted to bring to the market this spacious, two bedroom, first floor flat situated close to Torrisholme village and convenient for all the local amenities, including, shops, schools and bus routes between Morecambe and Lancaster. The property briefly comprises: hallway, spacious lounge, modern kitchen, two bedrooms and a modern shower room. The property benefits from UPVC double glazing and gas central heating with a British Gas combi boiler. To the exterior there are well maintained communal gardens with a drying area for clothes and communal parking. This is a very attractive flat that would be ideal for a first time buyer or an investor. NO ONWARD CHAIN.

Council Tax Band: A (Lancaster City Council)
Tenure: Leasehold (941 years)
Service Charge: £750 per year (reviewed every 1 years)

Agent Details

Sue Bridges, Lancaster

01524 967575

Next Steps?

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