2 Bed Terraced House, Single Let, Lancaster, LA1 2BZ, £125,000

5 Olive Road, Lancaster, Lancashire, LA1 2BZ - 3 views - 4 months ago

Sold STC
BTL
ROI: 4%
53 m²
+13 photos

ValuationOvervalued

Sold Prices£65K - £282.5K
Sold Prices/m²£1K/m² - £3.7K/m²

 

 

Square Metres

53 m²
Price/m²£2.4K/m²

Value Estimate

£94,436

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£31,250

Stamp Duty & Legal Fees

£4,950

Total Cash In

£36,200

 

 

Cash Out

 

Rent Range

£600 - £950

Rent Estimate

£650

Running Costs/mo

£541

Cashflow/mo

£109

Cashflow/yr

£1,313

ROI

4%

Gross Yield

6%

Local Sold Prices

50 sold prices from £65K to £282.5K, average is £116K. £1K/m² to £3.7K/m², average is £1.8K/m².

PriceDateDistanceAddressBeds 
£82.5K04/210 mi21, Olive Road, Lancaster, Lancashire LA1 2BZ2
£115K01/230.01 mi20, Olive Road, Lancaster, Lancashire LA1 2BZ2
£89K04/230.03 mi44, Gardner Road, Lancaster, Lancashire LA1 2DB2
£112K05/230.03 mi17, Gardner Road, Lancaster, Lancashire LA1 2DB2
£95K12/200.06 mi2, Kent Street, Lancaster, Lancashire LA1 2BS2
£123K03/240.06 mi4, Kent Street, Lancaster, Lancashire LA1 2BS2
£75K02/230.07 mi60, Broadway, Lancaster, Lancashire LA1 2BU2
£73.9K03/210.1 mi16, Alexandra Road, Lancaster, Lancashire LA1 2DS2
£100K06/230.1 mi21, Alexandra Road, Lancaster, Lancashire LA1 2DS2
£105K11/230.1 mi46, Norfolk Street, Lancaster, Lancashire LA1 2BW2
£125K05/230.1 mi20, Aldrens Lane, Lancaster, Lancashire LA1 2DU2
£106.5K11/220.1 mi143, Main Street, Lancaster, Lancashire LA1 2BH2
£85K11/210.13 mi6, Ruskin Road, Lancaster, Lancashire LA1 2EB2
£79K12/200.16 mi67, Alexandra Road, Lancaster, Lancashire LA1 2DP2
£65K01/240.16 mi50, Alexandra Road, Lancaster, Lancashire LA1 2DP2
£93K04/210.17 mi6, Ashbourne Drive, Lancaster, Lancashire LA1 2DW2
£98.1K08/230.17 mi2, Ashbourne Drive, Lancaster, Lancashire LA1 2DW2
£127K11/230.18 mi43, Ashbourne Road, Lancaster, Lancashire LA1 2DJ2
£98K12/200.18 mi23, Ashbourne Road, Lancaster, Lancashire LA1 2DJ2
£166K02/230.24 mi1, Lindeth Gardens, Lancaster, Lancashire LA1 2NH2
£140K03/210.32 mi75, Clare Road, Lancaster, Lancashire LA1 2LU2
£110K04/210.32 mi52, Clare Road, Lancaster, Lancashire LA1 2LU2
£110K08/210.33 mi30, Beaumont Street, Lancaster, Lancashire LA1 2JE2
£138.9K11/230.33 mi25, Beaumont Street, Lancaster, Lancashire LA1 2JE2
£110K03/210.35 mi8, Beaumont Street, Lancaster, Lancashire LA1 2JE2
£117K08/210.38 mi2, Fleet Green, Lancaster, Lancashire LA1 2NS2
£127.5K01/230.4 mi100, Coniston Road, Lancaster, Lancashire LA1 3NW2
£125K12/210.4 mi41, Whalley Road, Lancaster, Lancashire LA1 2HE2
£124K02/210.4 mi24, Coniston Road, Lancaster, Lancashire LA1 3NJ2
£170K02/240.4 mi46, Coniston Road, Lancaster, Lancashire LA1 3NJ2
£108K11/200.41 mi23, Howgill Avenue, Lancaster, Lancashire LA1 2HF2
£128.5K01/230.43 mi17, Earl Street, Lancaster, Lancashire LA1 2AF2
£145K02/230.43 mi27, Earl Street, Lancaster, Lancashire LA1 2AF2
£107.5K01/210.43 mi33, Earl Street, Lancaster, Lancashire LA1 2AF2
£110K12/200.43 mi38, Earl Street, Lancaster, Lancashire LA1 2AF2
£118.5K10/230.43 mi49, Earl Street, Lancaster, Lancashire LA1 2AF2
£120K10/230.43 mi15, Earl Street, Lancaster, Lancashire LA1 2AF2
£76K04/210.48 mi9, Longlands Road, Lancaster, Lancashire LA1 2NU2
£165K07/230.5 mi1, Ayrton View, Lancaster, Lancashire LA1 2RW2
£140K03/230.51 mi29, Bulk Road, Lancaster, Lancashire LA1 1DN2
£121.5K03/240.52 mi26, Lune Terrace, Lancaster, Lancashire LA1 2AQ2
£126K05/230.54 mi5, Green Street, Lancaster, Lancashire LA1 1DZ2
£282.5K11/200.54 mi62, Green Lane, Lancaster, Lancashire LA1 2EZ2
£137.5K02/240.56 mi43, River Street, Lancaster, Lancashire LA1 1AD2
£102K03/230.57 mi25, Albion Street, Lancaster, Lancashire LA1 1DY2
£138.9K06/230.59 mi5, St Georges Quay, Lancaster, Lancashire LA1 1HL2
£96K12/230.63 mi58, Lyth Road, Lancaster, Lancashire LA1 3LP2
£145K09/230.66 mi16, Denis Street, Lancaster, Lancashire LA1 1QX2
£117.5K03/240.66 mi10, Denis Street, Lancaster, Lancashire LA1 1QX2
£207.5K03/230.68 mi12, Caldbeck Road, Lancaster, Lancashire LA1 3LU2

Local Rents

15 rents from £600/mo to £950/mo, average is £695/mo.

RentDateDistanceAddressBeds 
£65003/240.01 mi-2
£69505/240.07 miBroadway, Lancaster2
£60005/240.08 miAlexandra Road, Lancaster, LA12
£67503/240.1 miAlexandra Road, Lancaster, LA12
£65004/240.12 miAshbourne Road, Lancaster2
£65005/240.13 miAlexandra Road, Lancaster2
£69506/240.15 mi-2
£71505/240.37 mi-2
£75004/240.43 miBridge Square Apartments, Kingsway, Lancaster, LA12
£75005/240.43 miBridge Square Apartments, Kingsway, Lancaster, LA12
£70004/240.45 miEarl Street, Lancaster, LA12
£65005/240.51 miBeaumont Park, Lancaster, LA12
£95005/240.56 miRiver View Apartments, Lancaster, LA12
£89505/240.57 mi-2
£85004/240.58 miSwallow Wharf, Troutbeck Road, Lancaster2

Local Area Statistics

Population in LA1

52,095

Population in Lancaster

74,075

Town centre distance

1.52 miles away

Nearest school

0.10 miles away

Nearest train station

0.89 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+34%

Sales demand

Balanced market

Capital growth (5yrs)

+16%

Property History

Listed for £125,000

November 22, 2024

Sold for £83,500

2021

Sold for £68,000

2014

Floor Plans

Description

  • Charming two-bedroom terraced house in the popular Skerton area of Lancaster. +
  • Modern kitchen fitted in 2022 with high-quality Howdens units. +
  • Stylish bathroom, upgraded in 2022, featuring contemporary fixtures. +
  • Spacious reception room providing a versatile and welcoming living space. +
  • Fully double-glazed with gas central heating; boiler installed in 2018. +
  • New flooring throughout the ground floor, fitted in 2022. +
  • Damp-proof course completed on the ground floor, still under guarantee. +
  • On-street parking available directly outside the property. +
  • Convenient location with easy access to Lancaster city center, the River Lune, and local amenities. +
  • Close to excellent transport links, including the M6 motorway and Lancaster train station, as well as scenic routes into the Forest of Bowland and Morecambe Bay. +

Step into 5 Olive Road, a charming two-bedroom terraced home nestled in a popular area of North Lancaster. Perfectly blending modern updates with classic character, this home is ideal for first-time buyers, small families, or those seeking a property ready to move into. Its thoughtful renovations and convenient location make it an excellent choice for those looking for comfortable and stylish living. Inside, the property has been tastefully modernised to meet modern living requirements. The spacious living room offers a welcoming and versatile space for relaxation or entertaining, while the kitchen, fitted in 2022 by Howdens, boasts sleek, high-quality units, making it both practical and visually appealing. The adjoining modern bathroom, also refreshed in 2022, features stylish fixtures and a fresh, contemporary design. Downstairs, new flooring enhances the home’s clean and polished aesthetic. Upstairs, both bedrooms are bright and well-proportioned, offering plenty of flexibility for use as sleeping quarters, a home office, or additional living space! Fully double-glazed windows and a gas central heating system, powered by the recently replaced boiler (2018), ensure warmth and efficiency throughout the year. The property benefits from a recently completed damp-proof course on the ground floor, providing added peace of mind and long-term durability. Outside, on-street parking is readily available, making everyday life hassle-free. Olive Road’s location on the northern edge of Lancaster offers excellent access to local amenities and transport links. The nearby River Lune and Millennium Bridge provide scenic walking and cycling routes into Lancaster city centre, home to a wealth of shops, restaurants, and cultural attractions, including the historic Lancaster Castle and the lively quayside. Families will appreciate the proximity to well-regarded schools, while commuters will benefit from excellent road links to the M6 motorway and Lancaster’s mainline train station, offering direct services to major cities like Manchester and London. This delightful home is ready for its next chapter. With modern upgrades, a convenient location, and a welcoming community, 5 Olive Road is a property not to be missed!

Agent Details

Lune Valley Estates, Lune Valley

01524 967573

Next Steps?

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