2 Bed Flat, Single Let, Morecambe, LA3 1PR, £69,950

Oxcliffe Road, Heysham, Morecambe, LA3 1PR - 2 views - 4 months ago

Leasehold
BTL
ROI: 9%
~68 m²
+4 photos

ValuationUndervalued

Sold Prices£44K - £235K
Sold Prices/m²£1.2K/m² - £3.1K/m²

 

 

Square Metres

~68.11 m²
Price/m²£1K/m²

Value Estimate

£86,738
BMV24%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£17,488

Stamp Duty & Legal Fees

£3,299

Total Cash In

£20,786

 

 

Cash Out

 

Rent Range

£525 - £1,195

Rent Estimate

£485

Running Costs/mo

£336

Cashflow/mo

£149

Cashflow/yr

£1,793

ROI

9%

Gross Yield

8%

Local Sold Prices

23 sold prices from £44K to £235K, average is £100K. £1.2K/m² to £3.1K/m², average is £1.6K/m².

PriceDateDistanceAddressBeds 
£44K05/210.16 mi33, Hawksworth Grove, Heysham, Morecambe, Lancashire LA3 1LU2
£125K08/220.26 mi57, Rylstone Drive, Heysham, Morecambe, Lancashire LA3 2DY2
£125K08/220.27 mi59, Rylstone Drive, Heysham, Morecambe, Lancashire LA3 2DY2
£97.5K12/200.34 mi243a, Heysham Road, Heysham, Morecambe, Lancashire LA3 1NN2
£77K01/230.35 mi33a, Norton Road, Heysham, Morecambe, Lancashire LA3 1HA2
£93K07/210.44 mi185, Heysham Road, Heysham, Morecambe, Lancashire LA3 1DF2
£182K10/210.44 miApartment 42, Grosvenor Apartments, Sandylands Promenade, Morecambe, Lancashire LA3 1GW2
£75K03/210.44 mi29, Dalton Road, Heysham, Morecambe, Lancashire LA3 1HD2
£159.9K12/200.45 mi141, Kingsway, Heysham, Morecambe, Lancashire LA3 2EQ2
£65K08/220.5 mi5, Gilstead Avenue, Heysham, Morecambe, Lancashire LA3 2HP2
£80K02/210.5 mi3, Longlands Avenue, Heysham, Morecambe, Lancashire LA3 2NU2
£80K02/210.5 mi3a, Longlands Avenue, Heysham, Morecambe, Lancashire LA3 2NU2
£58K01/210.58 miFlat 17, Sunacre Court, Maple Avenue, Heysham, Morecambe, Lancashire LA3 1HY2
£50K12/220.58 miFlat 3, Sunacre Court, Maple Avenue, Heysham, Morecambe, Lancashire LA3 1HY2
£235K11/210.62 mi9, Bailey Lane, Heysham, Morecambe, Lancashire LA3 2PS2
£120K06/210.73 mi188, Westminster Road, Morecambe, Lancashire LA3 1SN2
£84.5K12/220.8 mi122a, Balmoral Road, Morecambe, Lancashire LA3 1ST2
£145K02/230.8 miFlat 33, Marine Court, Sandylands Promenade, Heysham, Morecambe, Lancashire LA3 1HQ2
£113K02/230.84 mi26, Brambling Drive, Heysham, Morecambe, Lancashire LA3 2LH2
£100K02/210.84 mi11, Brambling Drive, Morecambe, Lancashire LA3 2LH2
£125K01/230.87 mi11, Brambling Drive, Heysham, Morecambe, Lancashire LA3 2LH2
£166K07/210.9 mi4, Glen View Drive, Heysham, Morecambe, Lancashire LA3 2QN2
£120K08/210.95 mi66, Regent Road, Morecambe, Lancashire LA3 1TF2

Local Rents

18 rents from £525/mo to £1.2K/mo, average is £688/mo.

RentDateDistanceAddressBeds 
£1,19504/250.06 mi-2
£55005/240.13 mi-2
£89506/240.21 miThe Cliffs, Heysham, Morecambe, LA32
£89507/240.21 mi-2
£95007/240.29 miHale Carr Lane, Heysham, Morecambe2
£70009/240.44 miDalton Road, Heysham, Morecambe, Lancashire2
£59504/240.49 miHeysham Road, Heysham, Morecambe, LA3 1DJ2
£57508/240.49 miHeysham Road, Morecambe, Lancs, LA32
£52505/240.5 mi164 Heysham Road, Morecambe, Lancs, LA32
£62804/240.5 mi-2
£75009/240.51 mi80 Sandylands Promenade, Morecambe, LA32
£67505/240.53 miGilstead Avenue, Heysham, Morecambe, Lancashire2
£62506/240.54 miGFF, Heysham Road, Heysham, Morecambe2
£62507/240.54 miGFF, Heysham Road, Heysham, Morecambe2
£70002/240.58 mi-2
£65002/240.58 mi-2
£75003/250.58 mi-2
£77505/240.61 miHarrington Road, Heysham, LA32

Local Area Statistics

Population in LA3

24,587

Population in Morecambe

50,836

Town centre distance

1.65 miles away

Nearest school

0.20 miles away

Nearest train station

1.45 miles away

 

 

Rental growth (12m)

-2%

Sales demand

Buyer's market

Capital growth (5yrs)

+31%

Property History

Listed for £69,950

December 17, 2024

Floor Plans

Description

  • VIRTUAL VIEWING AVAILABLE. CLICK ON THE VIDEO TOUR ABOVE +
  • Spacious Two Bed First Floor Flat ,Close To The Promenade +
  • Strong Rental Return Gas Central Heating, Majority Double Glazing +
  • Access to Nearby Shops and Amenities +
  • Great Investment Property, Current Rent £485PCM, 8.3% Yield +

An opportunity to purchase this spacious two bedroom first floor flat, offering accommodation comprising entrance hall with staircase and landing, good size lounge and kitchen, two bedrooms and bathroom. The property benefits from gas central heating and majority double glazing.

The flat currently provides a good rental income for the owner, and would make an ideal buy to let investment or first time purchase.

Located on Oxcliffe Road, the property enjoys good access to a good range of nearby amenities including the shop, and further amenities and facilities on Heysham Road, nearby schools and health centre. Road links and regular bus services provide access into Morecambe town centre and Lancaster city.

The Morecambe and Heysham area has improved access to the M6 motorway following the creation of the Bay Gateway link road providing enhanced access the Lake District, Kendal, Preston and central Lancashire.

The area is also currently under review for potential construction of Eden project north we believe this will enhance the area, increase demand for properties and strengthen the local economy.
Leasehold information: Terms: 999 years from 18th September 2006
Current Ground Rent: TBC
Current Service/Maintenance Charges: TBC
Council Tax Information: Band A

Agent Note
In order to be able to purchase a property in the UK all agents have a legal requirement to conduct identity checks on all customers involved in the transaction to fulfil their obligations under anti money laundering regulations. Farrell Heyworth outsource this check to a third party and a charge will apply. Please ask the branch for further details.

Agent Details

Farrell Heyworth, Morecambe

01524 967273

Next Steps?

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