4 Bed Detached House, Refurb/BRRR, Preston, PR2 1XB, £250,000

Miller Field, Lea, Preston, Lancashire, PR2 1XB - 4 views - 2 months ago

Sold STC
Refurb/BRRR
ROI: 1%
~129 m²
+10 photos

ValuationFair Value

Sold Prices£85K - £508K
Sold Prices/m²£1K/m² - £3.1K/m²

 

 

Square Metres

~129.26 m²
Price/m²£1.9K/m²

Value Estimate

£250,000

 

 

End Value (After Refurb)

£252,833

Uplift in Value

+1%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£62,500

Stamp Duty & Legal Fees

£8,700

Refurb Costs

£54,700

Bridging Loan Interest

£6,563

Total Cash In

£134,213

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£252,833

Mortgage (After Refinance)

£189,625

Mortgage LTV

75%

Cash Released

£2,125

Cash Left In

£132,088

Equity

£63,208

Rent Range

£725 - £2,800

Rent Estimate

£1,206

Running Costs/mo

£1,051

Cashflow/mo

£155

Cashflow/yr

£1,856

ROI

1%

Gross Yield

6%

Local Sold Prices

33 sold prices from £85K to £508K, average is £240K. £1K/m² to £3.1K/m², average is £2K/m².

PriceDateDistanceAddressBeds 
£188K12/200.01 mi33, Miller Field, Lea, Preston, Lancashire PR2 1XB4
£275K06/210.05 mi45, Willow Coppice, Lea, Preston, Lancashire PR2 1XW4
£250K01/230.24 mi39, Ash Coppice, Lea, Preston, Lancashire PR2 1RY4
£292K06/230.25 mi48, Freshfields, Lea, Preston, Lancashire PR2 1TJ4
£372K12/220.39 mi760, Blackpool Road, Ashton On Ribble, Preston, Lancashire PR2 1XJ4
£315K04/210.51 mi55, The Gables, Cottam, Preston, Lancashire PR4 0LG4
£365K11/200.51 mi1, Keats Way, Cottam, Preston, Lancashire PR4 0NL4
£310K02/230.57 mi10, Armaside Road, Cottam, Preston, Lancashire PR4 0WH4
£117K12/200.62 mi27, Cottam Avenue, Ingol, Preston, Lancashire PR2 3XE4
£320K12/200.64 mi2, Rose Wood, Cottam, Preston, Lancashire PR4 0NN4
£194.4K03/230.65 mi1, West Park Lane, Ashton On Ribble, Preston, Lancashire PR2 1JX4
£134K11/200.67 mi23, Westby Place, Ashton On Ribble, Preston, Lancashire PR2 1NH4
£152K01/230.72 mi582, Blackpool Road, Ashton On Ribble, Preston, Lancashire PR2 1JA4
£240K08/210.73 mi572, Blackpool Road, Ashton On Ribble, Preston, Lancashire PR2 1JA4
£425K11/200.76 mi17, Cottam Lane, Ashton On Ribble, Preston, Lancashire PR2 1JR4
£227.5K05/210.76 mi67, Dodney Drive, Lea, Preston, Lancashire PR2 1XS4
£284.9K09/210.76 mi9, The Chase, Cottam, Preston, Lancashire PR4 0NT4
£227K02/210.79 mi9, Dodney Drive, Lea, Preston, Lancashire PR2 1XR4
£205K12/200.8 mi10, Finney Park Drive, Lea, Preston, Lancashire PR2 1QZ4
£260K02/230.84 mi5, Meadowbarn Close, Cottam, Preston, Lancashire PR4 0AG4
£213K08/210.86 mi15, Stoney Butts, Lea, Preston, Lancashire PR2 1RT4
£220K03/210.86 mi34, Meadowbarn Close, Cottam, Preston, Lancashire PR4 0AG4
£345K04/230.88 mi11, Sandyfields, Cottam, Preston, Lancashire PR4 0DG4
£188K12/200.89 mi2, Parkthorn Road, Lea, Preston, Lancashire PR2 1RB4
£190.8K08/230.91 mi12, Ranglit Avenue, Lea, Preston, Lancashire PR2 1XT4
£508K12/200.93 mi241, Hoyles Lane, Cottam, Preston, Lancashire PR4 0LD4
£410K12/200.93 mi199, Hoyles Lane, Cottam, Preston, Lancashire PR4 0LD4
£245K09/230.93 mi14, Oaktree Close, Ingol, Preston, Lancashire PR2 3UZ4
£148K12/200.95 mi71, Sylvancroft, Ingol, Preston, Lancashire PR2 7BN4
£315K06/210.98 mi37, Hollins Grove, Fulwood, Preston, Lancashire PR2 3TT4
£85K11/200.98 mi5, Thistlecroft, Ingol, Preston, Lancashire PR2 7BS4
£190K04/230.99 mi11, Maple Leaf Close, Ingol, Preston, Lancashire PR2 7DZ4
£170K02/230.99 mi5, Maple Leaf Close, Ingol, Preston, Lancashire PR2 7DZ4

Local Rents

17 rents from £725/mo to £2.8K/mo, average is £950/mo.

RentDateDistanceAddressBeds 
£72507/240.25 miCartmel Place, Ashton-On-Ribble3
£80007/240.26 mi-3
£95012/240.4 miCanberra Lane, Cottam3
£1,35007/240.44 miLeadale, Lea, PR24
£1,75012/240.45 miGreenfinch Avenue, Cottam, Preston4
£1,80006/240.46 mi-5
£2,80004/250.46 mi-6
£90012/240.46 miElm Avenue, Ashton-on-Ribble, Preston, PR23
£1,10012/240.5 miLea Road, Lea Town, Preston, PR43
£1,10012/240.5 mi-3
£85006/240.51 miLayton Road, Preston, Lancashire, PR23
£90003/250.52 mi-3
£82507/240.56 mi-3
£1,50002/250.58 mi-3
£85012/240.58 mi-3
£85012/240.58 miPreesall Close, Ashton-On-Ribble, Preston, PR23
£1,15007/240.61 miWillow Field Cottage, Cottam Lane, Lancashire, PR23

Local Area Statistics

Population in PR2

77,713

Population in Preston

286,036

Town centre distance

2.73 miles away

Nearest school

0.20 miles away

Nearest train station

2.37 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

-7%

Sales demand

Seller's market

Capital growth (5yrs)

+25%

Property History

Listed for £250,000

February 8, 2025

Description

  • 4 Bedrooms +
  • Sought-After Location +
  • Close To Transport Links +
  • Detached House +
  • Living Room +
  • Open-Plan Kitchen +
  • Utility Room +
  • Ensuite Bathroom +
  • One Family Bathroom +
  • Generous Garden +

We are delighted to bring to market this detached house, a promising property for sale that offers a wealth of potential to its new owners. Although in need of renovation, this property has the potential to be transformed into a dream home.

The property boasts four spacious bedrooms, with one boasting an ensuite bathroom, perfect for a touch of privacy and luxury. The property also boast's having a 2nd reception room down stairs which can be used as either a home office space or a fifth additional bedroom. It also offers two bathrooms, catering to a family’s needs and ensuring everyone has their own space. The house features a single garage and ample parking space, making it suitable for households with multiple vehicles.

This home is perfect for entertaining, with two reception rooms and an open-plan kitchen providing a sociable setting for gatherings with family and friends. The kitchen also benefits from a separate extended utility room, adding convenience for any household chores.

Outside, the property features a generous garden, perfect for those who enjoy spending time outdoors and have a flair for gardening. The additional W.C. feature further adds to the practicality of this house.

The location of this property is particularly noteworthy. Situated in a sought-after location, it is in close proximity to public transport links, local amenities, and nearby schools. For those who enjoy a more active lifestyle, there are green spaces, nearby parks, walking routes, and cycling routes just a stone's throw away.

This property is ideally suited for first-time buyers eager to make their mark, families seeking a spacious home, or investors looking for a renovation project with a promising return. This home is full of opportunity, with huge potential to be a dream come true. Make an appointment to view today and discover the possibilities for yourself.

IMPORTANT NOTE TO POTENTIAL PURCHASERS & TENANTS: We endeavour to make our particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and none is to be relied upon as statements of representation or fact. The services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency is given. All photographs and measurements have been taken as a guide only and are not precise. Floor plans where included are not to scale and accuracy is not guaranteed. If you require clarification or further information on any points, please contact us, especially if you are traveling some distance to view. POTENTIAL PURCHASERS: Fixtures and fittings other than those mentioned are to be agreed with the seller. POTENTIAL TENANTS: All properties are available for a minimum length of time, with the exception of short term accommodation. Please contact the branch for details. A security deposit of at least one month’s rent is required. Rent is to be paid one month in advance. It is the tenant’s responsibility to insure any personal possessions. Payment of all utilities including water rates or metered supply and Council Tax is the responsibility of the tenant in most cases.

PRS250005/2

Agent Details

Reeds Rains, Preston

01772 283830

Next Steps?

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