3 Bed Terraced House, Refurb/BRRR, Morecambe, LA3 2PN, £290,000

Woborrow Road, Heysham, LA3 2PN - 5 views - 4 months ago

Sold STC
Refurb/BRRR
~93 m²
+23 photos

ValuationOvervalued











Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£72,500

Stamp Duty & Legal Fees

£11,900

Refurb Costs

£37,600

Bridging Loan Interest

£7,613

Total Cash In

£131,363

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£267,500

Mortgage (After Refinance)

£200,625

Mortgage LTV

75%

Cash Left In

£131,363

Equity

£66,875

Rent Range

£775 - £950

Rent Estimate

£862

Running Costs/mo

£1,028

Cashflow/mo

£-166

Cashflow/yr

£-1,996

Gross Yield

4%













Local Rents

10 rents from £775/mo to £950/mo, average is £863/mo.

RentDateDistanceAddressBeds 
£77504/240.55 miDelamere Avenue, Heysham, Morecambe3
£77506/240.55 miDelamere Avenue, Heysham, Morecambe3
£87504/240.61 miEastlands, Heysham, Morecambe, Lancashire3
£90010/240.61 mi-3
£79508/240.7 miRobin Crescent, Windermere Park, Heysham3
£95008/240.74 miMossgate Park, Heysham, Morecambe3
£85004/240.79 miDunlin Avenue, Heysham, Morecambe3
£85004/240.83 miWoodlands Drive, Heysham, Morecambe3
£95004/241.13 miCumberland View Road, Heysham, Morecambe3
£89505/241.16 miHampton Road, Heysham3

Local Area Statistics

Population in LA3

24,587

Population in Morecambe

50,836

Town centre distance

2.19 miles away

Nearest school

0.20 miles away

Nearest train station

1.12 miles away

 

 

Rental growth (12m)

-2%

Sales demand

Buyer's market

Capital growth (5yrs)

+31%

Property History

Listed for £290,000

December 10, 2024

Sold for £273,000

2022

Sold for £205,000

2017

Sold for £25,000

1999

Floor Plans

Description

  • Mid-Terrace House - Over Four Floors +
  • Beautifully presented with Period features +
  • Three Reception Rooms and a Home Office +
  • Open Plan kitchen Diner +
  • Three Double Bedrooms +
  • Four Piece Bathroom +
  • Views of Heysham Head & Morecambe Bay +
  • Private Rear Yard & Balcony / Roof Terrace +

This mid-terrace will appeal to those who like period properties as it offers lots of charming features. From the moment you step through the door, you should notice the lovely tiled floor and original door with a built-in bell. The home has been beautifully decorated throughout in a style that feels traditional but with just the right amount of modernisation. On the ground floor, there are two good-sized reception rooms and a home office. You can also access a private balcony for the rear reception room which offers views of the bay. For the kitchen and third reception room we head downstairs. The kitchen diner is centrally positioned and is a fantastic open-plan space with a multi-fuel stove, stone floors, and a country-style kitchen with wooden counters and a Belfast sink. You can just imagine family dinners and get-togethers with everyone sitting around the table. There is also a utility room, W.C., and a great storage room with multiple separate cupboards. Keep going though as you have the extended living space with an orangery-style roof and concertina doors opening out to the rear yard. Venturing back upstairs the first floor has the stunning master bedroom. With high ceilings and a large built-in wardrobe, this room is sure to impress. The four-piece bathroom is decorated in a sympathetic style that perfectly suits the home with a built-in shower and free-standing bath. On the top floor are further two double bedrooms with the large front having built-in cupboards and the rear benefitting from views of Heysham Head and the Bay The rear yard has been paved and has good space for outside furniture. It also grants access from the rear to St Marys Road meaning you don’t have to bring everything through the house is necessary. Extra Information

  • Range cooker, wooden counters, and Belfast sink in the kitchen

  • Lots of period features

  • Beautiful views of Morecambe Bay from the top floor and balcony

  • Lots of storage and a utility room

  • Popular village location

  • Band C Council Tax

EPC Rating: D

Agent Details

JD Gallagher Estate Agents, Lancaster

01524 967550

Next Steps?

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