2 Bed Terraced House, Refurb/BRRR, Lancaster, LA1 2BJ, £110,000

Pinfold Lane, Skerton | Two bedroom mid-terrace, LA1 2BJ - 2 months ago

Refurb/BRRR
ROI: 4%
~68 m²
+11 photos

ValuationUndervalued

Sold Prices£65K - £185K
Sold Prices/m²£1K/m² - £2.7K/m²

 

 

Square Metres

~68.11 m²
Price/m²£1.6K/m²

Value Estimate

£113,300
BMV3%

 

 

End Value (After Refurb)

£123,248

Uplift in Value

+12%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£27,500

Stamp Duty & Legal Fees

£6,700

Refurb Costs

£27,537

Bridging Loan Interest

£2,888

Total Cash In

£66,375

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£123,248

Mortgage (After Refinance)

£92,436

Mortgage LTV

75%

Cash Released

£9,936

Cash Left In

£56,439

Equity

£30,812

Rent Range

£600 - £975

Rent Estimate

£797

Running Costs/mo

£565

Cashflow/mo

£232

Cashflow/yr

£2,789

ROI

4%

Gross Yield

9%

Local Sold Prices

50 sold prices from £65K to £185K, average is £117.3K. £1K/m² to £2.7K/m², average is £1.8K/m².

PriceDateDistanceAddressBeds 
£95K12/200.05 mi2, Kent Street, Lancaster, Lancashire LA1 2BS2
£123K03/240.05 mi4, Kent Street, Lancaster, Lancashire LA1 2BS2
£106.5K11/220.05 mi143, Main Street, Lancaster, Lancashire LA1 2BH2
£105K11/230.07 mi46, Norfolk Street, Lancaster, Lancashire LA1 2BW2
£75K02/230.08 mi60, Broadway, Lancaster, Lancashire LA1 2BU2
£89K04/230.09 mi44, Gardner Road, Lancaster, Lancashire LA1 2DB2
£112K05/230.09 mi17, Gardner Road, Lancaster, Lancashire LA1 2DB2
£82.5K04/210.11 mi21, Olive Road, Lancaster, Lancashire LA1 2BZ2
£115K01/230.12 mi20, Olive Road, Lancaster, Lancashire LA1 2BZ2
£125K05/230.13 mi20, Aldrens Lane, Lancaster, Lancashire LA1 2DU2
£73.9K03/210.21 mi16, Alexandra Road, Lancaster, Lancashire LA1 2DS2
£100K06/230.21 mi21, Alexandra Road, Lancaster, Lancashire LA1 2DS2
£85K11/210.24 mi6, Ruskin Road, Lancaster, Lancashire LA1 2EB2
£79K12/200.27 mi67, Alexandra Road, Lancaster, Lancashire LA1 2DP2
£65K01/240.27 mi50, Alexandra Road, Lancaster, Lancashire LA1 2DP2
£93K04/210.28 mi6, Ashbourne Drive, Lancaster, Lancashire LA1 2DW2
£98.1K08/230.28 mi2, Ashbourne Drive, Lancaster, Lancashire LA1 2DW2
£127K11/230.3 mi43, Ashbourne Road, Lancaster, Lancashire LA1 2DJ2
£98K12/200.3 mi23, Ashbourne Road, Lancaster, Lancashire LA1 2DJ2
£128.5K01/230.32 mi17, Earl Street, Lancaster, Lancashire LA1 2AF2
£145K02/230.33 mi27, Earl Street, Lancaster, Lancashire LA1 2AF2
£107.5K01/210.33 mi33, Earl Street, Lancaster, Lancashire LA1 2AF2
£110K12/200.33 mi38, Earl Street, Lancaster, Lancashire LA1 2AF2
£118.5K10/230.33 mi49, Earl Street, Lancaster, Lancashire LA1 2AF2
£120K10/230.33 mi15, Earl Street, Lancaster, Lancashire LA1 2AF2
£166K02/230.33 mi1, Lindeth Gardens, Lancaster, Lancashire LA1 2NH2
£124K02/210.34 mi24, Coniston Road, Lancaster, Lancashire LA1 3NJ2
£170K02/240.34 mi46, Coniston Road, Lancaster, Lancashire LA1 3NJ2
£140K03/210.35 mi75, Clare Road, Lancaster, Lancashire LA1 2LU2
£110K04/210.36 mi52, Clare Road, Lancaster, Lancashire LA1 2LU2
£127.5K01/230.38 mi100, Coniston Road, Lancaster, Lancashire LA1 3NW2
£140K03/230.4 mi29, Bulk Road, Lancaster, Lancashire LA1 1DN2
£121.5K03/240.41 mi26, Lune Terrace, Lancaster, Lancashire LA1 2AQ2
£126K05/230.43 mi5, Green Street, Lancaster, Lancashire LA1 1DZ2
£117K08/210.43 mi2, Fleet Green, Lancaster, Lancashire LA1 2NS2
£110K08/210.45 mi30, Beaumont Street, Lancaster, Lancashire LA1 2JE2
£138.9K11/230.45 mi25, Beaumont Street, Lancaster, Lancashire LA1 2JE2
£102K03/230.46 mi25, Albion Street, Lancaster, Lancashire LA1 1DY2
£110K03/210.46 mi8, Beaumont Street, Lancaster, Lancashire LA1 2JE2
£137.5K02/240.5 mi43, River Street, Lancaster, Lancashire LA1 1AD2
£138.9K06/230.5 mi5, St Georges Quay, Lancaster, Lancashire LA1 1HL2
£108K11/200.52 mi23, Howgill Avenue, Lancaster, Lancashire LA1 2HF2
£125K12/210.52 mi41, Whalley Road, Lancaster, Lancashire LA1 2HE2
£76K04/210.53 mi9, Longlands Road, Lancaster, Lancashire LA1 2NU2
£145K09/230.54 mi16, Denis Street, Lancaster, Lancashire LA1 1QX2
£117.5K03/240.54 mi10, Denis Street, Lancaster, Lancashire LA1 1QX2
£185K06/210.58 mi5, Garnet Street, Lancaster, Lancashire LA1 3PN2
£170K11/210.58 mi24, Garnet Street, Lancaster, Lancashire LA1 3PN2
£160K05/230.58 mi23, Garnet Street, Lancaster, Lancashire LA1 3PN2
£160K03/240.58 mi26, Nun Street, Lancaster, Lancashire LA1 3PJ2

Local Rents

29 rents from £600/mo to £975/mo, average is £750/mo.

RentDateDistanceAddressBeds 
£69505/240.09 miBroadway, Lancaster2
£65003/240.11 mi-2
£60005/240.19 miAlexandra Road, Lancaster, LA12
£67503/240.22 miAlexandra Road, Lancaster, LA12
£65004/240.23 miAshbourne Road, Lancaster2
£65005/240.25 miAlexandra Road, Lancaster2
£71505/240.26 mi-2
£69506/240.27 mi-2
£75004/240.32 miBridge Square Apartments, Kingsway, Lancaster, LA12
£75005/240.32 miBridge Square Apartments, Kingsway, Lancaster, LA12
£70004/240.34 miEarl Street, Lancaster, LA12
£85004/240.47 miSwallow Wharf, Troutbeck Road, Lancaster2
£89505/240.48 mi-2
£95005/240.5 miRiver View Apartments, Lancaster, LA12
£75005/240.52 miWater Street, Lancaster, LA12
£90012/240.53 mi-2
£87505/240.54 miDamside Street, Lancaster2
£97504/240.54 miLune Square, Damside Street2
£94505/240.54 miLune Square, Lancaster, LA12
£89505/240.54 miLune Square, Lancaster, LA12
£95012/240.58 mi-2
£85002/250.58 mi-2
£85004/240.59 mi-2
£75006/240.59 mi-2
£75005/240.59 miCromwell Building, Lancaster, LA12
£65005/240.6 miBeaumont Park, Lancaster, LA12
£89506/240.61 mi-2
£92505/240.61 miWhitbarrow Square, Lancaster, LA12
£92506/240.61 miWhitbarrow Square, Lancaster, LA12

Local Area Statistics

Population in LA1

52,095

Population in Lancaster

74,075

Town centre distance

1.41 miles away

Nearest school

0.10 miles away

Nearest train station

0.80 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+34%

Sales demand

Balanced market

Capital growth (5yrs)

+16%

Property History

Price changed to £110,000

March 16, 2025

Listed for £115,000

January 22, 2025

Floor Plans

Description

  • Mid-Terrace House +
  • Two Bedrooms +
  • One Reception Room +
  • Fitted Kitchen +
  • Wet Room / Shower Room +
  • Rear Yard | Shared Access Ginnel +
  • No Onwards Chain +
  • In need of some Decoration +

Location: Welcome to Pinfold Lane, a residential area in Lancaster, located North of the city centre. With a mix of historical and modern properties.Pinfold Lane, in particular, is a notable street in Skerton, characterised by its traditional homes. The area offers convenience and community, with local amenities such as schools, shops, and parks nearby. Skerton benefits from its proximity to the River Lune, providing scenic walking and cycling routes. There are a number of local amenities, including a variety of shops and a well-placed petrol station. The local transport links make it easy to access Lancaster city centre and beyond, adding to its appeal for families, professionals, and retirees. Property Details: Step into the open-plan kitchen and living room with useful under-stairs storage. This versatile space provides the perfect foundation for your own personal touch. Upstairs, the landing features a built-in storage cupboard housing the boiler. There are two bedrooms, one with a built-in wardrobe. The wet room-style bathroom is a practical and contemporary feature. Towards the rear of the property includes an extended courtyard, offering low-maintenance outdoor space suitable for relaxing or additional storage. Pinfold Lane benefits from convenient on-street parking. This home provides a straightforward layout and potential for customization, making it ideal for first-time buyers, downsizers, or investors looking to add value. Key Features:

  • Kitchen appliances: fridge freezer, oven and washing machine

  • Double wardrobe in the main bedroom

  • Built in wardrobe in spare bedroom

  • Wet room

  • Spacious Courtyard

EPC Rating: D

Agent Details

JD Gallagher Estate Agents, Lancaster

01524 967550

Next Steps?

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