3 Bed Terraced House, Refurb/BRRR, Lancaster, LA1 5DF, £215,000

56 Sibsey Street, Lancaster, LA1 5DF - 3 views - 3 months ago

BTL
Refurb/BRRR
ROI: 3%
90 m²
+6 photos

ValuationOvervalued

Sold Prices£61.3K - £800K
Sold Prices/m²£828/m² - £4.4K/m²

 

 

Square Metres

90 m²
Price/m²£2.4K/m²

Value Estimate

£196,875

 

 

End Value (After Refurb)

£200,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£53,750

Stamp Duty & Legal Fees

£7,650

Refurb Costs

£36,387

Bridging Loan Interest

£5,644

Total Cash In

£105,181

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£200,000

Mortgage (After Refinance)

£150,000

Mortgage LTV

75%

Cash Left In

£105,181

Equity

£50,000

Rent Range

£607 - £2,492

Rent Estimate

£1,126

Running Costs/mo

£870

Cashflow/mo

£256

Cashflow/yr

£3,070

ROI

3%

Gross Yield

6%

Local Sold Prices

50 sold prices from £61.3K to £800K, average is £192.3K. £828/m² to £4.4K/m², average is £2.3K/m².

PriceDateDistanceAddressBeds 
£136K04/210.02 mi22, Sibsey Street, Lancaster, Lancashire LA1 5DF3
£186.3K07/230.02 mi45, Lincoln Road, Lancaster, Lancashire LA1 5DJ3
£175K06/210.05 mi9, Wingate Saul Road, Lancaster, Lancashire LA1 5DW3
£145K09/230.05 mi53, Wingate Saul Road, Lancaster, Lancashire LA1 5DW3
£235K01/230.05 mi101, Sibsey Street, Lancaster, Lancashire LA1 5DQ3
£200K08/210.07 mi24, Wingate Saul Road, Lancaster, Lancashire LA1 5DP3
£232K02/210.12 mi43, Ashfield Avenue, Lancaster, Lancashire LA1 5EB3
£224K03/210.12 mi21, Ashfield Avenue, Lancaster, Lancashire LA1 5EB3
£240K03/210.16 mi19a, Meeting House Lane, Lancaster, Lancashire LA1 1TJ3
£155K12/220.23 mi4, Middle Street, Lancaster, Lancashire LA1 1JZ3
£192.5K03/210.24 mi4, Peel Crescent, Lancaster, Lancashire LA1 5NY3
£430K11/210.26 miCannondale, Westbourne Road, Lancaster, Lancashire LA1 5EF3
£350K12/220.26 mi35, Portland Street, Lancaster, Lancashire LA1 1SY3
£220K02/210.27 mi24, West Road, Lancaster, Lancashire LA1 5PE3
£225K06/210.27 mi3, Haig Avenue, Lancaster, Lancashire LA1 5PB3
£129K05/210.28 mi19, Stanley Place, Lancaster, Lancashire LA1 5PN3
£188.2K07/230.28 mi30, Beech Street, Lancaster, Lancashire LA1 5PL3
£380K06/230.29 mi5, Castle Hill, Lancaster, Lancashire LA1 1YS3
£135K11/230.3 mi2, Meadow Street, Lancaster, Lancashire LA1 5PH3
£340K12/220.31 miUlrikken, Cromwell Road, Lancaster, Lancashire LA1 5BD3
£190K05/230.32 mi17, Aysgarth Road, Lancaster, Lancashire LA1 5PZ3
£173K04/210.32 mi11, Aysgarth Road, Lancaster, Lancashire LA1 5PZ3
£240K05/230.37 mi2, Leighton Drive, Lancaster, Lancashire LA1 5UQ3
£225K06/210.37 mi21, Leighton Drive, Lancaster, Lancashire LA1 5UQ3
£140K03/210.37 mi38, Coverdale Road, Lancaster, Lancashire LA1 5PY3
£143.8K12/200.37 mi14, Coverdale Road, Lancaster, Lancashire LA1 5PY3
£210K02/210.37 mi23, Levens Close, Lancaster, Lancashire LA1 5UL3
£210K03/210.41 mi1, Jefferson Close, Lancaster, Lancashire LA1 5EZ3
£118K11/200.42 mi55, Gerrard Street, Lancaster, Lancashire LA1 5LZ3
£144K08/230.42 mi25, Gerrard Street, Lancaster, Lancashire LA1 5LZ3
£150K12/230.42 mi2, Hutton Way, Lancaster, Lancashire LA1 5SQ3
£175K09/230.42 mi58, Lune Road, Lancaster, Lancashire LA1 5QH3
£217.5K06/210.43 mi5, Sizergh Court, Lancaster, Lancashire LA1 5UN3
£106K02/230.45 mi6, Charnley Street, Lancaster, Lancashire LA1 5RE3
£209.3K07/210.46 mi8, Johnson Close, Lancaster, Lancashire LA1 5EU3
£225K03/210.47 mi7, Cleveland Drive, Lancaster, Lancashire LA1 5EW3
£185K03/210.48 mi108, Westbourne Road, Lancaster, Lancashire LA1 5JX3
£200K02/230.49 mi9, Tower Court, Lancaster, Lancashire LA1 4XH3
£122.5K11/200.53 mi8, Railway Street, Lancaster, Lancashire LA1 4XA3
£135K08/210.55 mi58, St Georges Quay, Lancaster, Lancashire LA1 1SA3
£155K02/230.55 mi56, St Georges Quay, Lancaster, Lancashire LA1 1SA3
£800K11/230.6 miMabsoot, Brettargh Drive, Lancaster, Lancashire LA1 5BN3
£61.3K05/210.61 mi45, Fife Street, Lancaster, Lancashire LA1 5TT3
£192K11/210.61 mi23, Sulby Drive, Lancaster, Lancashire LA1 4UB3
£265K04/230.61 mi22, Dumbarton Road, Lancaster, Lancashire LA1 3BX3
£415K11/210.61 mi4, Marlton Way, Lancaster, Lancashire LA1 5BW3
£139K06/230.61 mi9, St Peters Mews, Lancaster, Lancashire LA1 3QR3
£80K07/230.63 mi25, Alfred Street, Lancaster, Lancashire LA1 1QN3
£295K01/230.63 mi9, Mariner Way, Lancaster, Lancashire LA1 5TS3
£257.5K05/210.64 mi3, Mariner Way, Lancaster, Lancashire LA1 5TS3

Local Rents

20 rents from £607/mo to £2.5K/mo, average is £975/mo.

RentDateDistanceAddressBeds 
£1,07504/240.16 miSt Lukes Court, Fairfield Road, Lancaster3
£79504/240.17 miHarrier Court, Fenton Street, Lancaster3
£79504/240.18 miFairfield Road, Lancaster3
£1,30012/240.22 mi-3
£2,27505/240.32 mi-3
£2,49204/250.32 mi-3
£60704/240.44 miSt. Georges Quay, Lancaster, LA13
£1,10002/240.45 miSt George's Quay, Lancaster, LA13
£90005/240.46 miCromwell Building, Lancaster, LA13
£95005/240.46 miCromwell Building, Lancaster, LA13
£1,05002/240.46 mi-3
£90006/240.46 mi-3
£1,75012/240.46 mi-3
£95005/240.46 miCleveland Drive, Lancaster3
£95006/240.46 miCleveland Drive, Lancaster3
£1,20005/240.46 miAbram Close, Lancaster3
£79504/240.49 miTower Court, Lancaster, LA13
£1,00004/240.52 miAbram Close, Lancaster3
£65004/240.53 miCable Street, Lancaster, LA13
£1,20003/250.59 mi-3

Local Area Statistics

Population in LA1

52,095

Population in Lancaster

74,075

Town centre distance

0.51 miles away

Nearest school

0.20 miles away

Nearest train station

0.17 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+34%

Sales demand

Balanced market

Capital growth (5yrs)

+16%

Property History

Listed for £215,000

January 28, 2025

Floor Plans

Description

  • NO CHAIN +
  • THREE BEDROOMS +
  • TWO RECEPTION ROOMS +
  • IN NEED OF SOME MODERNISATION +
  • WITHIN WALKING DISTANCE TO THE TRAIN STATION +
  • OPEN PLAN LIVING +
  • WOULD MAKE A LOVELY FAMILY HOME +
  • BUY TO LET INVESTMENT +
  • READY TO PUT YOUR OWN MARK ON +
  • DESIRABLE AREA +

A charming three-bedroom traditional terrace property, full of potential and awaiting modernisation to bring it up to date. Previously let out, this house is now ready to be transformed into a warm and welcoming family home.
The ground floor offers a lounge, complemented by an open-plan dining room and kitchen, providing a great foundation for creating a stylish and functional living space. Upstairs, you’ll find a family bathroom and three well-proportioned bedrooms.

The property is set in a highly desirable area of South Lancaster, perfectly positioned within walking distance of the train station and city centre, offering convenience and a fantastic lifestyle opportunity. Ideal for those seeking to add their own personal touch and create a beautiful home in a sought-after location.

This highly sought-after area has an excellent choice of schooling for all ages with both renowned Girls' and Boys' Grammar schools and excellent local primaries.
The property is offered with no onward chain.

Entrance Hallway - Stairs to the first floor, carpeted floor, understairs storage cupboard.

Lounge/Bedroom - Double glazed bay window to the front, carpeted floor, radiator.

Open Plan Dining Room - Double-glazed patio doors to the rear, cupboard housing the consumer unit, carpeted floor and radiator.

Kitchen - Double-glazed window to the rear, range of matching wall and base units, four plate electric hob and oven, extractor hood, washing machine, stainless steel sink, free-standing fridge/freezer, vinyl floor.

First Floor Landing -

Bedroom One - Double-glazed window to the front, carpeted floor, radiator.

Bedroom Two - Double-glazed window to the rear, carpeted floor, radiator.

Bedroom Three - Double-glazed window to the front, carpeted floor, radiator.

Bathroom - Double-glazed frosted window to the rear, panelled bath with Trinity electric shower, wash hand basin, heated towel rail, vinyl floor, cupboard housing the Vaillant combi boiler, W.C.

Outside - Storage shed, patio area and gate to access road.

Useful Information - Tenure Freehold
Council Tax Band (A ) £1505.37
No Onward Chain

Agent Details

Mighty House, Lancaster

01524 967572

Next Steps?

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