2 Bed Flat, Single Let, Lancaster, LA1 4AR, £45,000

142, Greaves Road, Lancaster, LA1 4AR - 7 views - 2 months ago

Sold STC
Leasehold
BTL
ROI: 29%
77 m²
+11 photos

ValuationUndervalued

Sold Prices£80K - £225K
Sold Prices/m²£1.4K/m² - £2.8K/m²

 

 

Square Metres

77 m²
Price/m²£584/m²

Value Estimate

£55,800
BMV24%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£11,250

Stamp Duty & Legal Fees

£2,550

Total Cash In

£13,800

 

 

Cash Out

 

Rent Range

£498 - £1,647

Rent Estimate

£617

Running Costs/mo

£284

Cashflow/mo

£333

Cashflow/yr

£3,996

ROI

29%

Gross Yield

16%

Local Sold Prices

32 sold prices from £80K to £225K, average is £122.8K. £1.4K/m² to £2.8K/m², average is £2.2K/m².

PriceDateDistanceAddressBeds 
£159.9K01/230.11 miFlat 2, Brunton House, Scotforth Road, Lancaster, Lancashire LA1 4TU2
£100K04/230.11 miFlat 12, Brunton House, Scotforth Road, Lancaster, Lancashire LA1 4TU2
£80K06/210.11 mi32 The Hastings, Scotforth Road, Lancaster, Lancashire LA1 4TF2
£125K08/230.11 mi34 The Hastings, Scotforth Road, Lancaster, Lancashire LA1 4TF2
£125K02/210.14 mi2, Chiltern Court, Lancaster, Lancashire LA1 4TP2
£120K08/230.14 mi1, Chiltern Court, Lancaster, Lancashire LA1 4TP2
£120K06/230.29 mi7, Charles Street, Lancaster, Lancashire LA1 4UU2
£115K05/230.29 mi11, Charles Street, Lancaster, Lancashire LA1 4UU2
£210K09/230.37 mi67, Spruce Avenue, Lancaster, Lancashire LA1 5LB2
£123.5K05/210.47 mi2, Barton Gardens, Lancaster, Lancashire LA1 4DZ2
£122K01/210.47 mi4, Barton Gardens, Lancaster, Lancashire LA1 4DZ2
£110K02/240.47 mi16, Barton Gardens, Lancaster, Lancashire LA1 4DZ2
£95K12/230.47 mi10, Barton Gardens, Lancaster, Lancashire LA1 4DZ2
£105K09/210.5 mi35, Tower Court, Lancaster, Lancashire LA1 4XH2
£90K11/200.54 mi38, Spinners Court, Lancaster, Lancashire LA1 1RY2
£130K04/230.54 mi64, Spinners Court, Lancaster, Lancashire LA1 1RY2
£92K12/200.56 mi10, Carr House Lane, Lancaster, Lancashire LA1 1SW2
£208K02/210.58 miApartment 6, Tudor Court, Henry Street, Lancaster, Lancashire LA1 1AR2
£101K12/230.58 mi41, Ushers Meadow, Lancaster, Lancashire LA1 1FB2
£190K12/220.58 miApartment 8, Royal View, Aldcliffe Road, Lancaster, Lancashire LA1 1AQ2
£118K12/200.66 mi2, Swan Yard, Lancaster, Lancashire LA1 3EQ2
£118K12/200.66 mi2, Swan Yard, Lancaster, Lancashire LA1 3EQ2
£140K03/210.66 mi1, Swan Yard, Lancaster, Lancashire LA1 3EQ2
£125K12/210.72 miFlat 9, Highmount House, High Street, Lancaster, Lancashire LA1 1LA2
£150K06/210.74 miFlat 4, Windermere House, Middle Street, Lancaster, Lancashire LA1 1JZ2
£98K05/210.84 mi17, St James Court, Lancaster, Lancashire LA1 1UN2
£210K06/230.94 miFlat 1, Kelne House, Castle Park Mews, Lancaster, Lancashire LA1 1WA2
£160K07/210.94 miFlat 5, Chennell House, Castle Park Mews, Lancaster, Lancashire LA1 1WA2
£225K12/220.97 mi3a, Laurel Bank, Lancaster, Lancashire LA1 5LN2
£140K01/240.97 mi36, The Colonnade, Lancaster, Lancashire LA1 3FP2
£117.5K12/200.97 mi32, The Colonnade, Lancaster, Lancashire LA1 3FP2
£131K04/210.97 mi16, The Colonnade, Lancaster, Lancashire LA1 3FP2

Local Rents

36 rents from £498/mo to £1.6K/mo, average is £750/mo.

RentDateDistanceAddressBeds 
£72505/240.11 miThe Hastings, Greaves, Lancaster2
£75005/240.13 miChiltern Court, Scotforth, Lancaster2
£87505/240.13 miGraham Street, Lancaster2
£67504/240.13 mi-2
£67503/250.13 mi-2
£72505/240.19 miTrafalgar Road, Lancaster2
£82512/240.2 mi-2
£70005/240.2 mi-2
£85005/240.22 miDorrington Road, Lancaster, LA12
£79504/240.26 miAvondale Road, Lancaster2
£87504/240.27 miWellington Road, Lancaster, LA12
£82512/240.28 mi-2
£54206/240.32 miBowerham Road, Lancaster2
£49806/240.32 mi83a Bowerham Road, Lancaster2
£72504/240.36 miLeinster Court, Lancaster, LA12
£82505/240.37 miStorey Hall, Lancaster, LA12
£77505/240.38 miSouth Road, Lancaster, LA12
£90002/240.38 mi-2
£85005/240.4 miCunningham Court, Ashton Road, Lancaster, LA12
£80005/240.44 mi-2
£65004/240.44 miWestham Street, Lancaster2
£72505/240.44 miWestham Street, Lancaster2
£70005/240.46 miEastham Street, Lancaster, LA12
£75006/240.46 miWestham Street, Lancaster, LA12
£75004/240.46 miEastham Street, Lancaster, LA12
£70003/250.47 mi-2
£72512/240.47 mi-2
£1,00004/240.49 mi-2
£1,10005/240.56 miRoyal View, Knight's Bridge Apartments, Lancaster, LA12
£1,05005/240.56 miNightingale House, LA1 4JT2
£1,49505/240.58 mi-2
£1,64703/250.58 mi-2
£65006/240.59 mi-2
£65005/240.59 miQuarry Mount Mews, Lancaster, LA12
£87505/240.6 miPiccadilly Close, Scotforth, Lancaster2
£70004/240.62 miThurnham Street, City Centre, Lancaster, LA12

Local Area Statistics

Population in LA1

52,095

Population in Lancaster

74,075

Town centre distance

0.46 miles away

Nearest school

0.20 miles away

Nearest train station

0.92 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+34%

Sales demand

Balanced market

Capital growth (5yrs)

+16%

Property History

Listed for £45,000

February 11, 2025

Floor Plans

Description

  • VIRTUAL VIEWING AVAILABLE. CLICK ON THE VIDEO TOUR ABOVE +
  • Two Bedroom Residential Flat with Balcony In South Lancaster +
  • Modern Kitchen, Spacious Lounge, Wet Room +
  • Two Double Bedrooms, WC, Communal Areas +
  • Great Location, Close to Local Amenities +

Fantastic opportunity to purchase this immaculate two bedroom first floor apartment situated in a popular residential location in South Lancaster.

On internal inspection the property briefly comprises: spacious lounge with a balcony, kitchen, modern wet room, two double bedrooms and a WC.

There is use of multiple communal areas and externally the property has communal gardens and allocated parking.

Viewings are highly recommended to appreciate this superb property on offer.
Leasehold information: Ground Rent Payable: Yes
Annual Ground Rent: £255 x 2 payable each 6 months in advance
Service Charge: £1009.18 per month
Length of the Lease: 999 years
Start Date of the Lease: 01/06/2016
Council Tax Information: Band C

Agent Note
In order to be able to purchase a property in the UK all agents have a legal requirement to conduct identity checks on all customers involved in the transaction to fulfil their obligations under anti money laundering regulations. Farrell Heyworth outsource this check to a third party and a charge will apply. Please ask the branch for further details.

Agent Details

Farrell Heyworth, Lancaster & North Lancashire

01524 938556

Next Steps?

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