2 Bed Flat, Refurb/BRRR, Carlisle, CA1 2DR, £72,500

Adelaide Street, Carlisle, CA1 2DR - 3 months ago

Leasehold

BTL

Refurb/BRRR

ROI: 7%

~51 m²

+9 photos

ValuationOvervalued

Sold Prices	£50K - £205K
Sold Prices/m²	£823/m² - £1.9K/m²

Square Metres	~51 m²
Price/m²	£1.4K/m²
Value Estimate	£62,050£62,050

End Value (After Refurb)	£73,250£73,250
Uplift in Value	+1%+1%

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£18,125£18,125
Stamp Duty & Legal Fees	£4,825£4,825
Refurb Costs	£20,071£20,071
Bridging Loan Interest	£1,903£1,903
Total Cash In	£46,674£46,674

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£73,250£73,250
Mortgage (After Refinance)	£54,938£54,938
Mortgage LTV	75%75%
Cash Released	£563£563
Cash Left In	£46,112£46,112
Equity	£18,313£18,313
Rent Range	£500 - £995£500 - £995
Rent Estimate	£653
Running Costs/mo	£380£380
Cashflow/mo	£273£273
Cashflow/yr	£3,282£3,282
ROI	7%7%
Gross Yield	11%11%

Local Sold Prices

21 sold prices from £50K to £205K, average is £70K. £823/m² to £1.9K/m², average is £1.1K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£70K	03/21	0.3 mi	30c, Edward Street, Carlisle, Cumbria CA1 2JE	£1,250	56	2	Flat
£55K	12/21	0.3 mi	30a, Edward Street, Carlisle, Cumbria CA1 2JE	£1,100	50	2	Flat
£65K	11/20	0.37 mi	197, Warwick Road, Carlisle, Cumbria CA1 1LP	£823	79	2	Flat
£65K	01/23	0.41 mi	277, Warwick Road, Carlisle, Cumbria CA1 2BX	£1,300	50	2	Flat
£68.5K	10/21	0.44 mi	28, Thirlwell Gardens, Carlisle, Cumbria CA1 2DU	£1,087	63	2	Flat
£70K	06/21	0.44 mi	36, Thirlwell Gardens, Carlisle, Cumbria CA1 2DU	£1,111	63	2	Flat
£68K	06/21	0.44 mi	70, Thirlwell Gardens, Carlisle, Cumbria CA1 2DU	£1,030	66	2	Flat
£205K	01/21	0.46 mi	1, St Joseph's Gardens, Carlisle, Cumbria CA1 2UQ	£1,864	110	2	Flat
£108K	03/21	0.49 mi	2c, St Aidans Road, Carlisle, Cumbria CA1 1LS	£1,286	84	2	Flat
£142K	04/21	0.56 mi	Ground Floor And Basement Flat, 51, Chiswick Street, Carlisle, Cumbria CA1 1HJ	-	-	2	Flat
£67.5K	08/21	0.57 mi	28, Almery Drive, Carlisle, Cumbria CA2 4EX	-	-	2	Flat
£85K	06/22	0.61 mi	21b, Chertsey Grove, Carlisle, Cumbria CA1 2QY	£1,143	74	2	Flat
£92K	12/22	0.63 mi	1b, Chertsey Grove, Carlisle, Cumbria CA1 2QY	£1,122	82	2	Flat
£92K	12/22	0.63 mi	1b, Chertsey Grove, Carlisle, Cumberland CA1 2QY	£1,122	82	2	Flat
£65K	10/20	0.65 mi	1, Goodwin Close, Carlisle, Cumbria CA2 4AH	£1,297	50	2	Flat
£82.2K	03/23	0.68 mi	Flat 2, Hillcrest Nook, High Road, Carlisle, Cumberland CA1 2QU	-	-	2	Flat
£50K	02/21	0.76 mi	28, Broome Court, Carlisle, Cumbria CA1 2RB	£877	57	2	Flat
£72K	08/22	0.78 mi	5, Argyll Drive, Carlisle, Cumbria CA1 3PB	£1,600	45	2	Flat
£69K	06/23	0.8 mi	59, York Gardens, Carlisle, Cumberland CA2 4HP	£1,169	59	2	Flat
£55K	09/21	0.89 mi	18, Lewis Court, Carlisle, Cumbria CA2 5ET	£979	56	2	Flat
£127.5K	05/22	0.94 mi	4, Chapel Brow, Carlisle, Cumbria CA1 2PP	£1,648	77	2	Flat

Local Rents

33 rents from £500/mo to £995/mo, average is £625/mo.

Rent	Date	Distance	Address	Beds	Type
£675	04/24	0.08 mi	Sybil Street, Carlisle, CA1	2	Terraced House
£625	04/24	0.1 mi	Sybil Street, Carlisle, CA1	2	Terraced House
£625	05/24	0.11 mi	Raven Street, Carlisle, CA1	2	Terraced House
£625	05/24	0.11 mi	Raven Street, Carlisle, CA1	2	Terraced House
£625	06/24	0.11 mi	-	2	Terraced House
£600	04/24	0.11 mi	Greystone Road, Carlisle, CA1	2	Terraced House
£600	03/24	0.12 mi	Lindisfarne Court, Carlisle, CA1	2	Terraced House
£675	09/24	0.14 mi	-	2	Terraced House
£675	09/24	0.14 mi	-	2	Terraced House
£675	09/24	0.14 mi	-	2	Terraced House
£625	03/24	0.16 mi	Thomson Street	2	Terraced House
£650	03/24	0.18 mi	Lindisfarne Street, Carlisle, Cumbria, CA1	2	Terraced House
£510	02/24	0.22 mi	-	2	Terraced House
£530	01/25	0.22 mi	-	2	Terraced House
£650	05/24	0.24 mi	Alexander Street, Carlisle, CA1	2	Terraced House
£795	11/24	0.27 mi	-	2	Terraced House
£995	03/25	0.3 mi	-	2	Terraced House
£525	05/24	0.33 mi	84 Charles Street, Carlisle	2	Terraced House
£550	03/23	0.39 mi	-	2	Terraced House
£850	06/24	0.4 mi	-	2	Semi-Detached House
£850	03/25	0.4 mi	-	2	Semi-Detached House
£590	04/24	0.42 mi	Aglionby Street, Carlisle	2	Flat
£575	04/24	0.43 mi	Thirlwell Gardens, Carlisle, CA1	2	Flat
£650	03/24	0.44 mi	114, Warwick Road, Carlisle	2	Flat
£750	03/24	0.48 mi	Hanson Place, Warwick Square, Carlisle	2	Flat
£675	08/24	0.55 mi	-	2	Terraced House
£500	02/23	0.56 mi	-	2	Terraced House
£525	12/24	0.56 mi	-	2	Terraced House
£600	03/24	0.58 mi	Red Gables, Carlisle, CA1	2	Flat
£650	04/24	0.58 mi	Flat 6, Red Gables, CA1	2	Flat
£675	03/24	0.59 mi	Hasell Street, Carlisle	2	Flat
£595	05/24	0.6 mi	-	2	Terraced House
£850	03/24	0.6 mi	Hazel Grove, Harraby Green, Carlisle	2	Flat

Local Area Statistics

Population in CA1	24,51524,515
Population in Carlisle	103,015103,015
Town centre distance	1.29 miles away1.29 miles away
Nearest school	0.20 miles away0.20 miles away
Nearest train station	0.70 miles away0.70 miles away

Rental demand	Tenant's marketTenant's market
Rental growth (12m)	+13%+13%
Sales demand	Seller's marketSeller's market
Capital growth (5yrs)	+14%+14%

Property History

Price changed to £72,500

March 4, 2025

Listed for £79,950

January 10, 2025

Floor Plans

Description

First floor flat +
2 bedrooms +
1 bathroom +
Gas central heated +
Double glazed +
No onward chain +
Close to local amenities +
Ideal first time buy +

A two bedroom first floor flat, double glazed and gas central heated throughout, sold with the benefit of no onward chain. The accommodation briefly comprises of entrance hall with staircase to the first floor, inner hallway, dining lounge, fitted kitchen, two bedrooms and a three piece family bathroom. The property does require some cosmetic modernisation, however would make an ideal project for the first time buyer or an opportunity as a buy to let investment. Situated in close proximity to shops, schools, college, pharmacy, doctors and transport links. The accommodation with approximate measurements briefly comprises: Entry via UPVC double glazed door into entrance hall.

Agent Details

Cumbrian Properties, Carlisle

01228 276406

Next Steps?

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