2 Bed Flat, Cash/Bridging Only, Carlisle, CA1 3HN, £55,000

Longholme Road, Harraby, Carlisle, CA1 3HN - 1 views - 3 months ago

Sold STC

Cash

ROI: 6%

~68 m²

+6 photos

ValuationFair Value

Sold Prices	£50K - £200K
Sold Prices/m²	£877/m² - £1.9K/m²

Square Metres	~68.11 m²
Price/m²	£808/m²
Value Estimate	£56,100£56,100

End Value (After Refurb)	£112,054£112,054
Uplift in Value	+104%+104%

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£13,750£13,750
Stamp Duty & Legal Fees	£3,950£3,950
Refurb Costs	£26,805£26,805
Bridging Loan Interest	£1,444£1,444
Total Cash In	£47,699£47,699

Cash Out
Monetisation	FlipRefinance & RentFlip
Estimated Sale Price	£112,054£112,054
Agent Fees (1%)	£1,121£1,121
Bridging Loan	£41,250£41,250
Bridging Loan Interest	£1,444£1,444
Flip Profit	£21,984£21,984

Local Sold Prices

32 sold prices from £50K to £200K, average is £87.3K. £877/m² to £1.9K/m², average is £1.3K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£60K	06/21	0.01 mi	35, Longholme Road, Carlisle, Cumbria CA1 3HN	£1,053	57	2	Flat
£80K	09/21	0.01 mi	23, Longholme Road, Carlisle, Cumbria CA1 3HN	£1,404	57	2	Flat
£57K	03/21	0.05 mi	120, Longholme Road, Carlisle, Cumbria CA1 3HU	£966	59	2	Flat
£75.5K	05/23	0.05 mi	108, Longholme Road, Carlisle, Cumberland CA1 3HU	£1,302	58	2	Flat
£100K	06/23	0.15 mi	86, Watermans Walk, Carlisle, Cumberland CA1 3TU	£1,563	64	2	Flat
£77.5K	10/21	0.15 mi	78, Watermans Walk, Carlisle, Cumbria CA1 3TU	£1,314	59	2	Flat
£80K	01/21	0.15 mi	100, Watermans Walk, Carlisle, Cumbria CA1 3TU	£1,290	62	2	Flat
£88.2K	04/21	0.15 mi	142, Watermans Walk, Carlisle, Cumbria CA1 3TU	£1,423	62	2	Flat
£112.5K	08/23	0.15 mi	110, Watermans Walk, Carlisle, Cumberland CA1 3TU	£1,797	63	2	Flat
£92K	07/22	0.15 mi	144, Watermans Walk, Carlisle, Cumbria CA1 3TU	£1,415	65	2	Flat
£80K	01/23	0.26 mi	Flat 2, Hedley Court, Cumwhinton Road, Carlisle, Cumbria CA1 3PA	-	-	2	Flat
£190K	10/21	0.37 mi	2, Oval Court, Carlisle, Cumbria CA1 3TT	£1,919	99	2	Flat
£150K	11/22	0.37 mi	10, Oval Court, Carlisle, Cumbria CA1 3TT	£1,715	87	2	Flat
£72K	08/22	0.42 mi	5, Argyll Drive, Carlisle, Cumbria CA1 3PB	£1,600	45	2	Flat
£92K	08/22	0.43 mi	7, Pennine View Close, Carlisle, Cumbria CA1 3GW	£1,394	66	2	Flat
£86.5K	06/21	0.45 mi	8, Pennine View Close, Carlisle, Cumbria CA1 3GW	£1,254	69	2	Flat
£105K	10/21	0.45 mi	16, Pennine View Close, Carlisle, Cumbria CA1 3GW	-	-	2	Flat
£88K	06/21	0.45 mi	33, Pennine View Close, Carlisle, Cumbria CA1 3GW	£1,354	65	2	Flat
£95K	05/22	0.45 mi	45, Pennine View Close, Carlisle, Cumbria CA1 3GW	£1,397	68	2	Flat
£74.5K	11/22	0.45 mi	57, Dale End Road, Carlisle, Cumbria CA1 3DE	£1,330	56	2	Flat
£68.5K	12/22	0.48 mi	100, Dale End Road, Carlisle, Cumbria CA1 3DE	-	-	2	Flat
£128K	08/22	0.55 mi	Flat 21, Willow Place, Parkland Drive, Carlisle, Cumbria CA1 3GQ	-	-	2	Flat
£175K	09/22	0.55 mi	Flat 36, Willow Place, Parkland Drive, Carlisle, Cumbria CA1 3GQ	-	-	2	Flat
£200K	07/23	0.55 mi	Flat 36, Willow Place, Parkland Drive, Carlisle, Cumberland CA1 3GQ	£1,143	175	2	Flat
£50K	02/21	0.59 mi	28, Broome Court, Carlisle, Cumbria CA1 2RB	£877	57	2	Flat
£82.2K	03/23	0.65 mi	Flat 2, Hillcrest Nook, High Road, Carlisle, Cumberland CA1 2QU	-	-	2	Flat
£92K	12/22	0.71 mi	1b, Chertsey Grove, Carlisle, Cumbria CA1 2QY	£1,122	82	2	Flat
£92K	12/22	0.71 mi	1b, Chertsey Grove, Carlisle, Cumberland CA1 2QY	£1,122	82	2	Flat
£85K	06/22	0.73 mi	21b, Chertsey Grove, Carlisle, Cumbria CA1 2QY	£1,143	74	2	Flat
£127.5K	05/22	0.86 mi	4, Chapel Brow, Carlisle, Cumbria CA1 2PP	£1,648	77	2	Flat
£52K	06/21	0.87 mi	22, Brisco Meadows, Carlisle, Cumbria CA2 4NY	£945	55	2	Flat
£52K	02/21	0.87 mi	28, Brisco Meadows, Carlisle, Cumbria CA2 4NY	£963	54	2	Flat

Local Rents

28 rents from £550/mo to £950/mo, average is £750/mo.

Rent	Date	Distance	Address	Beds	Type
£600	04/24	0.03 mi	Longholme Road, Carlisle	2	Flat
£595	03/24	0.05 mi	Longholme Road, Carlisle	2	Flat
£625	01/25	0.05 mi	-	2	Flat
£575	03/24	0.05 mi	Longholme Road, Carlisle, CA1	2	Flat
£650	05/24	0.14 mi	Winton Cresent, Harraby, Carlisle	2	Semi-Detached House
£675	05/24	0.15 mi	Watermans Walk, Carleton Grange, Carlisle	2	Flat
£675	05/24	0.15 mi	Watermans Walk, Carleton Grange, Carlisle	2	Flat
£675	03/24	0.15 mi	140 Watermans Walk, Carlisle, Cumbria	2	Flat
£750	05/24	0.17 mi	-	2	Flat
£725	12/24	0.42 mi	-	2	Terraced House
£895	04/25	0.43 mi	-	2	Flat
£950	03/25	0.44 mi	-	2	Flat
£775	03/24	0.44 mi	Cherry Lane, CARLISLE, CA1	2	Flat
£775	03/24	0.44 mi	Cherry Lane, CARLISLE, CA1	2	Flat
£950	04/25	0.44 mi	-	2	Flat
£950	09/23	0.44 mi	-	2	Flat
£950	02/25	0.44 mi	-	2	Flat
£950	02/25	0.44 mi	-	2	Flat
£695	04/24	0.45 mi	Pennine View Close, Carlisle, CA1	2	Flat
£895	02/25	0.45 mi	-	2	Flat
£895	03/25	0.45 mi	-	2	Flat
£650	04/24	0.45 mi	Pennine View Close, Carlisle	2	Flat
£775	03/24	0.45 mi	19, Cherry Lane,CARLISLE, CA1 3GJ	2	Flat
£575	03/24	0.46 mi	Lightfoot Drive, Carlisle, Cumbria, CA1	2	Detached House
£750	05/23	0.48 mi	-	2	Semi-Detached House
£750	04/24	0.55 mi	Willow Place, Parkland Village, Carlisle, CA1	2	Flat
£795	05/24	0.58 mi	-	2	Semi-Detached House
£550	03/24	0.6 mi	London Road, Carlisle, CA1	2	Terraced House

Local Area Statistics

Population in CA1	24,51524,515
Population in Carlisle	103,015103,015
Town centre distance	2.45 miles away2.45 miles away
Nearest school	0.30 miles away0.30 miles away
Nearest train station	1.78 miles away1.78 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

Listed for £55,000

January 24, 2025

Description

Cash buyers only +
Ground Floor Flat +
Two bedrooms +
Lawned garden and parking +
No onward chain +
Ideal buy to let investment or first time buy +

A realistically priced ground floor flat situated in a quiet popular location with lawned garden and off-street parking. The property is double glazed and has electric heating and briefly comprises entrance hall with plenty of storage, spacious lounge, separate kitchen, two bedrooms and a three piece bathroom. Externally there is a lawned garden to the front of the property and off-street parking. Situated close to local amenities and on regular bus routes to the city centre, the property would make an ideal investment as a buy to let having been successfully rented for several years or would also suit a first time buyer or those looking for a low maintenance single storey living. Sold with the benefit of no onward chain. The accommodation with approximate measurements briefly comprises: UPVC front door into entrance hall.

Agent Details

Cumbrian Properties, Carlisle

01228 276406

Next Steps?

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