2 Bed Terraced House, Refurb/BRRR, Lancaster, LA1 2AH, £114,000

Lune Street, Lancaster, Lancashire, LA1 2AH - 2 months ago

Refurb/BRRR
ROI: 4%
~84 m²
+7 photos

ValuationFair Value

Sold Prices£75K - £250K
Sold Prices/m²£1K/m² - £2.5K/m²

 

 

Square Metres

~84 m²
Price/m²£1.4K/m²

Value Estimate

£114,000

 

 

End Value (After Refurb)

£151,522

Uplift in Value

+33%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£28,500

Stamp Duty & Legal Fees

£6,900

Refurb Costs

£33,961

Bridging Loan Interest

£2,993

Total Cash In

£74,104

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£151,522

Mortgage (After Refinance)

£113,641

Mortgage LTV

75%

Cash Released

£28,141

Cash Left In

£45,963

Equity

£37,880

Rent Range

£600 - £1,647

Rent Estimate

£894

Running Costs/mo

£672

Cashflow/mo

£222

Cashflow/yr

£2,660

ROI

4%

Gross Yield

9%

Local Sold Prices

50 sold prices from £75K to £250K, average is £124.5K. £1K/m² to £2.5K/m², average is £1.9K/m².

PriceDateDistanceAddressBeds 
£121.5K03/240.03 mi26, Lune Terrace, Lancaster, Lancashire LA1 2AQ2
£145K02/230.08 mi27, Earl Street, Lancaster, Lancashire LA1 2AF2
£107.5K01/210.08 mi33, Earl Street, Lancaster, Lancashire LA1 2AF2
£110K12/200.08 mi38, Earl Street, Lancaster, Lancashire LA1 2AF2
£118.5K10/230.08 mi49, Earl Street, Lancaster, Lancashire LA1 2AF2
£120K10/230.08 mi15, Earl Street, Lancaster, Lancashire LA1 2AF2
£128.5K01/230.08 mi17, Earl Street, Lancaster, Lancashire LA1 2AF2
£138.9K06/230.14 mi5, St Georges Quay, Lancaster, Lancashire LA1 1HL2
£137.5K02/240.25 mi43, River Street, Lancaster, Lancashire LA1 1AD2
£140K03/230.3 mi29, Bulk Road, Lancaster, Lancashire LA1 1DN2
£145K09/230.34 mi16, Denis Street, Lancaster, Lancashire LA1 1QX2
£117.5K03/240.34 mi10, Denis Street, Lancaster, Lancashire LA1 1QX2
£126K05/230.35 mi5, Green Street, Lancaster, Lancashire LA1 1DZ2
£102K03/230.36 mi25, Albion Street, Lancaster, Lancashire LA1 1DY2
£160K03/240.39 mi26, Nun Street, Lancaster, Lancashire LA1 3PJ2
£105K11/230.4 mi46, Norfolk Street, Lancaster, Lancashire LA1 2BW2
£125K05/210.41 mi23, Meeting House Lane, Lancaster, Lancashire LA1 1TX2
£117K04/210.42 mi7, Woodville Street, Lancaster, Lancashire LA1 3QD2
£178K03/210.42 mi7, Bath Mill Lane, Lancaster, Lancashire LA1 3QJ2
£147K01/230.42 mi18, Mill Street, Lancaster, Lancashire LA1 3PL2
£75K02/230.42 mi60, Broadway, Lancaster, Lancashire LA1 2BU2
£100.5K11/200.43 mi28, Mill Street, Lancaster, Lancashire LA1 3PL2
£122.5K11/200.43 mi34b, Long Marsh Lane, Lancaster, Lancashire LA1 5QX2
£120K02/210.43 mi2a, Long Marsh Lane, Lancaster, Lancashire LA1 5QX2
£130K11/210.43 mi8, Long Marsh Lane, Lancaster, Lancashire LA1 5QX2
£120K01/230.43 mi12, Long Marsh Lane, Lancaster, Lancashire LA1 5QX2
£106.5K11/220.43 mi143, Main Street, Lancaster, Lancashire LA1 2BH2
£125K05/230.43 mi20, Aldrens Lane, Lancaster, Lancashire LA1 2DU2
£185K06/210.43 mi5, Garnet Street, Lancaster, Lancashire LA1 3PN2
£170K11/210.43 mi24, Garnet Street, Lancaster, Lancashire LA1 3PN2
£160K05/230.43 mi23, Garnet Street, Lancaster, Lancashire LA1 3PN2
£95K12/200.43 mi2, Kent Street, Lancaster, Lancashire LA1 2BS2
£123K03/240.43 mi4, Kent Street, Lancaster, Lancashire LA1 2BS2
£165K01/230.44 mi20, Mill Street, Lancaster, Lancashire LA1 3PL2
£132K08/230.44 mi15, Melbourne Road, Lancaster, Lancashire LA1 3QB2
£89K04/230.46 mi44, Gardner Road, Lancaster, Lancashire LA1 2DB2
£112K05/230.46 mi17, Gardner Road, Lancaster, Lancashire LA1 2DB2
£145K09/230.48 mi9, Briery Street, Lancaster, Lancashire LA1 5RD2
£95K12/210.48 mi5, Briery Street, Lancaster, Lancashire LA1 5RD2
£108.7K10/230.48 mi27, St Peters Road, Lancaster, Lancashire LA1 3BS2
£250K10/230.49 mi1, Dalton Road, Lancaster, Lancashire LA1 3PR2
£82.5K04/210.49 mi21, Olive Road, Lancaster, Lancashire LA1 2BZ2
£142K04/230.49 mi5, Marsh Street, Lancaster, Lancashire LA1 5RG2
£115K01/230.49 mi20, Olive Road, Lancaster, Lancashire LA1 2BZ2
£145K10/230.5 mi21, Lune Road, Lancaster, Lancashire LA1 5QU2
£129.9K09/230.5 mi77, Lune Road, Lancaster, Lancashire LA1 5RF2
£140K03/210.5 mi75, Clare Road, Lancaster, Lancashire LA1 2LU2
£110K04/210.51 mi52, Clare Road, Lancaster, Lancashire LA1 2LU2
£124K02/210.53 mi24, Coniston Road, Lancaster, Lancashire LA1 3NJ2
£170K02/240.53 mi46, Coniston Road, Lancaster, Lancashire LA1 3NJ2

Local Rents

50 rents from £600/mo to £1.6K/mo, average is £895/mo.

RentDateDistanceAddressBeds 
£70004/240.06 miEarl Street, Lancaster, LA12
£89505/240.13 mi-2
£90012/240.15 mi-2
£87505/240.15 miDamside Street, Lancaster2
£75005/240.15 miWater Street, Lancaster, LA12
£71505/240.15 mi-2
£97504/240.15 miLune Square, Damside Street2
£94505/240.15 miLune Square, Lancaster, LA12
£89505/240.15 miLune Square, Lancaster, LA12
£95012/240.24 mi-2
£89501/250.24 mi-2
£85002/250.24 mi-2
£95005/240.25 miRiver View Apartments, Lancaster, LA12
£75005/240.26 miCromwell Building, Lancaster, LA12
£85004/240.26 mi-2
£75006/240.26 mi-2
£75004/240.33 miBridge Square Apartments, Kingsway, Lancaster, LA12
£75005/240.33 miBridge Square Apartments, Kingsway, Lancaster, LA12
£1,02504/240.34 miCastle Park, Lancaster 2
£90005/240.35 mi-2
£99505/240.36 mi27 Castle Hill, Lancaster2
£82506/240.37 miCastle Park Mews, Chennell House Castle Park Mews, LA12
£99512/240.38 mi-2
£85004/240.39 miSwallow Wharf, Troutbeck Road, Lancaster2
£64105/240.4 miBulk Street, Lancaster2
£89506/240.4 mi-2
£92505/240.4 miWhitbarrow Square, Lancaster, LA12
£92506/240.4 miWhitbarrow Square, Lancaster, LA12
£75004/240.42 miSt James Court, Lancaster2
£69505/240.43 miBroadway, Lancaster2
£89504/240.43 miFenton Court, Fenton Street, Lancaster2
£1,20005/240.43 mi-2
£67505/240.43 miSt James Court, Wheatfield Court2
£90006/240.43 miCastle Park Mews, Lancaster2
£1,20004/240.43 miWindermere House, Middle St, Lancaster, LA12
£1,05005/240.44 miMiddle Street, Windermere House Middle Street, LA12
£75006/240.45 mi-2
£95004/240.46 mi-2
£90001/250.46 mi-2
£92505/240.46 miHigh Street, Lancaster2
£87505/240.48 miNelson Street, Lancaster2
£75005/240.49 miSt Peters Road Lancaster2
£65003/240.49 mi-2
£1,10004/240.49 miThe Roundhouse, Robert Street, LA12
£99505/240.52 miLune Road, Lancaster2
£90004/240.53 miAalborg Place, Court View House, LA12
£70004/240.53 miThurnham Street, City Centre, Lancaster, LA12
£1,49505/240.57 mi-2
£1,64703/250.57 mi-2
£60005/240.57 miAlexandra Road, Lancaster, LA12

Local Area Statistics

Population in LA1

52,095

Population in Lancaster

74,075

Town centre distance

1.03 miles away

Nearest school

0.10 miles away

Nearest train station

0.41 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+34%

Sales demand

Balanced market

Capital growth (5yrs)

+16%

Property History

Price changed to £114,000

March 20, 2025

Listed for £120,000

January 28, 2025

Floor Plans

Description

  • Two bedroom mid terraced house +
  • Cellar, and two reception rooms +
  • Sold as seen and no chain delay +
  • Perfect investment or first time purchase +
  • Popular location - well connected to amenities +

Two-bedroom mid-terraced house which offers a fantastic opportunity for buyers with vision and a desire to create a home tailored to their style. Requiring some renovation and redecoration, this property is sold as seen and presents great potential for those looking to add value.

Situated in a popular location, the property benefits from excellent access to Lancaster city centre, local schools, colleges, and the motorway network, making it an ideal spot for commuters and families alike.

The layout includes an entrance hallway, two separate reception rooms, and a kitchen to the rear. The property also boasts a rear yard with outhouses that would benefit from attention, offering additional storage or development potential. Upstairs, you’ll find two bedrooms and a shower room, with further storage space available in the cellar.

Offered with no chain delay, this property is perfect for investors or those ready to take on a project and transform this house into a home. Don’t miss this exciting opportunity!

Agent Details

Entwistle Green, Lancaster

01524 938270

Next Steps?

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