3 Bed Terraced House, Refurb/BRRR, Morecambe, LA4 4LJ, £130,000

Lake Avenue, Morecambe, Lancashire, LA4 4LJ - 2 views - 2 months ago

Refurb/BRRR
ROI: 3%
~93 m²
+7 photos

ValuationFair Value

Sold Prices£70K - £221K
Sold Prices/m²£798/m² - £2.5K/m²

 

 

Square Metres

~93 m²
Price/m²£1.4K/m²

Value Estimate

£130,000

 

 

End Value (After Refurb)

£143,077

Uplift in Value

+10%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£32,500

Stamp Duty & Legal Fees

£5,100

Refurb Costs

£37,588

Bridging Loan Interest

£3,413

Total Cash In

£80,350

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£143,077

Mortgage (After Refinance)

£107,308

Mortgage LTV

75%

Cash Released

£9,808

Cash Left In

£70,542

Equity

£35,769

Rent Range

£750 - £950

Rent Estimate

£865

Running Costs/mo

£640

Cashflow/mo

£225

Cashflow/yr

£2,699

ROI

3%

Gross Yield

8%

Local Sold Prices

50 sold prices from £70K to £221K, average is £153.6K. £798/m² to £2.5K/m², average is £1.6K/m².

PriceDateDistanceAddressBeds 
£142K10/210 mi13, Lake Avenue, Morecambe, Lancashire LA4 4LJ3
£136K12/210.02 mi5, Regent Park Avenue, Morecambe, Lancashire LA4 4QW3
£160K03/210.02 mi3, Regent Park Avenue, Morecambe, Lancashire LA4 4QW3
£150K10/210.04 mi102, Albert Road, Morecambe, Lancashire LA4 4QT3
£162.5K11/220.06 mi132, Albert Road, Morecambe, Lancashire LA4 4QU3
£158K06/210.06 mi13, Lake Grove, Morecambe, Lancashire LA4 4LH3
£178K04/230.07 mi2, Regent Park Grove, Morecambe, Lancashire LA4 4LA3
£157K10/200.07 mi17, Scott Grove, Morecambe, Lancashire LA4 4LN3
£221K03/230.08 mi86, Balmoral Road, Morecambe, Lancashire LA4 4JR3
£147K03/210.08 mi82, Balmoral Road, Morecambe, Lancashire LA4 4JR3
£202K12/220.09 mi12, Ellesmere Road, Morecambe, Lancashire LA4 4JL3
£132K09/210.09 mi12, Ellesmere Road, Morecambe, Lancashire LA4 4JL3
£150K11/200.12 mi15, Windsor Grove, Morecambe, Lancashire LA4 4LW3
£125K01/230.12 mi26, Chatsworth Road, Morecambe, Lancashire LA4 4JQ3
£130K06/210.13 mi3, Osborne Road, Morecambe, Lancashire LA4 4LS3
£112K01/210.13 mi18, Osborne Road, Morecambe, Lancashire LA4 4LS3
£170K11/220.13 mi6, Osborne Road, Morecambe, Lancashire LA4 4LS3
£149.9K12/220.13 mi7, Lake Road, Morecambe, Lancashire LA3 1AS3
£152.5K10/200.15 mi38, Buckingham Road, Morecambe, Lancashire LA4 4LX3
£144.9K02/210.16 mi4, Windsor Road, Morecambe, Lancashire LA3 1AH3
£160K12/200.16 mi54, Buckingham Road, Morecambe, Lancashire LA4 4QR3
£165K01/210.18 mi69, Acre Moss Lane, Morecambe, Lancashire LA4 4NB3
£190K03/230.19 mi3, Sandringham Road, Morecambe, Lancashire LA4 4NE3
£220K10/210.19 mi1, Albany Road, Morecambe, Lancashire LA4 4DT3
£175K11/200.19 mi11, Bellamy Avenue, Morecambe, Lancashire LA4 4QS3
£152.7K08/230.19 mi17, Bellamy Avenue, Morecambe, Lancashire LA4 4QS3
£170K02/210.19 mi14, Westminster Avenue, Morecambe, Lancashire LA4 4DU3
£220K12/220.24 mi121, Ellesmere Road, Morecambe, Lancashire LA4 4LG3
£171K04/210.25 mi52, Regent Park Grove, Morecambe, Lancashire LA4 4LD3
£75K01/210.25 mi60, Regent Park Grove, Morecambe, Lancashire LA4 4LD3
£130K05/210.25 mi54, Regent Park Grove, Morecambe, Lancashire LA4 4LD3
£160K03/230.25 mi39, Brook Road, Morecambe, Lancashire LA3 1AZ3
£165K01/210.26 mi20, Clevelands Grove, Morecambe, Lancashire LA3 1SY3
£169.9K12/220.28 mi8, Osborne Crescent, Morecambe, Lancashire LA3 1SZ3
£164.9K04/230.28 mi36, Needham Avenue, Morecambe, Lancashire LA4 4PH3
£140K01/210.29 mi4, Clevelands Avenue, Morecambe, Lancashire LA3 1SX3
£106K12/200.32 mi30, Avondale Road, Heysham, Morecambe, Lancashire LA3 1SR3
£135K05/230.32 mi22, Avondale Road, Heysham, Morecambe, Lancashire LA3 1SR3
£84K06/210.32 mi55a, Yorkshire Street, Morecambe, Lancashire LA3 1QF3
£149K10/200.32 mi40, Woodhill Lane, Morecambe, Lancashire LA4 4NN3
£119K10/210.35 mi9, Cambridge Road, Morecambe, Lancashire LA3 1RY3
£165K01/230.35 mi24, Limes Avenue, Heysham, Morecambe, Lancashire LA3 1HS3
£190K06/230.35 mi5, Gardens Grove, Morecambe, Lancashire LA4 4ED3
£95K12/200.35 mi33, Limes Avenue, Heysham, Morecambe, Lancashire LA3 1HS3
£137K05/230.36 mi36, Hutton Crescent, Morecambe, Lancashire LA4 4PE3
£70K12/200.37 mi23, Gardner Road, Heysham, Morecambe, Lancashire LA3 1RX3
£158K10/210.37 mi7, Woodhill Lane, Morecambe, Lancashire LA4 4NL3
£175K05/230.37 mi19, Woodhill Lane, Morecambe, Lancashire LA4 4NL3
£130K05/210.37 mi25, Woodhill Lane, Morecambe, Lancashire LA4 4NL3
£154.4K04/210.39 mi12, Barnes Road, Heysham, Morecambe, Lancashire LA3 1UW3

Local Rents

15 rents from £750/mo to £950/mo, average is £895/mo.

RentDateDistanceAddressBeds 
£75005/240.07 miWest End, Morecambe, LA43
£75005/240.07 miWest End, Morecambe, LA43
£77507/240.1 miBalmoral Road, Morecambe, Lancashire, LA43
£95008/240.12 miChatsworth Road, Morecambe, Lancashire, LA43
£95008/240.13 miChatsworth Road, Morecambe, Lancashire, LA43
£95008/240.13 miChatsworth Road, Morecambe, Lancashire, LA43
£89908/240.13 miAlbert Road, Morecambe, Lancashire, LA43
£89908/240.13 miAlbert Road, Morecambe, Lancashire, LA43
£95005/240.19 miClarendon Road, Morecambe3
£75012/230.28 mi-3
£75002/240.3 mi-3
£89505/240.5 miHampton Road, Heysham3
£89504/250.55 mi-3
£95004/240.59 miCumberland View Road, Heysham, Morecambe3
£89504/240.61 miHestham Avenue, Morecambe3

Local Area Statistics

Population in LA4

26,244

Population in Morecambe

50,836

Town centre distance

0.68 miles away

Nearest school

0.20 miles away

Nearest train station

0.45 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+8%

Sales demand

Balanced market

Capital growth (5yrs)

+28%

Property History

Listed for £130,000

February 3, 2025

Floor Plans

Description

  • Three bedroom end terrace +
  • Two reception rooms +
  • Galley kitchen +
  • No chain +
  • Family bathroom +
  • Garage and driveway +
  • Two out buildings +
  • Regent Park area +

Introducing an exciting opportunity to own a three-bedroom end terrace home, nestled on a desirable corner plot. This property features a garage, a driveway, and two versatile outbuildings, making it perfect for families or those in need of extra storage.

As you enter, you're welcomed into a hallway that leads to a bright and airy living room, complete with a charming bay window that fills the space with natural light. Adjacent to the living room, you'll find a generously sized dining room, perfect for family gatherings and entertaining. The rear galley kitchen offers practicality and access to the outdoor spaces.

Venturing upstairs, the first floor boasts a large family bathroom, two double bedrooms, and a good-sized single bedroom, all providing ample space for comfortable living.

While the property is in need of modernisation, it presents an excellent opportunity for buyers to add their personal touch and create a lovely family home tailored to their tastes.

Externally, the property features a small yard to the front that wraps around to the side, providing additional outdoor space. The rear yard is of good size, offering convenient access to the driveway, outbuildings, and garage, enhancing the practicality of this property.

Don’t miss out on the chance to make this property your own and transform it into the perfect family haven!

Conveniently situated in the popular area of Regent Park, walking distance to Morecambe promenade, beach, local bus routes on Regent Road, shops and schools. There is easy travel links to surrounding area and the M6 via the Bay Gateway.

Freehold
Council Tax Band - B

Agent Details

Entwistle Green, Morecambe

01524 967563

Next Steps?

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