3 Bed Semi-Detached House, Refurb/BRRR, Lancaster, LA2 7JH, £185,000

16 BANKS WAY, HIGH BENTHAM, LANCASTER, LA2 7JH - 1 views - a month ago

Refurb/BRRR
ROI: 2%
~93 m²
+14 photos

ValuationFair Value

Sold Prices£147K - £415K
Sold Prices/m²£1.6K/m² - £3.2K/m²

 

 

Square Metres

~93 m²
Price/m²£2K/m²

Value Estimate

£183,544

 

 

End Value (After Refurb)

£185,440

Uplift in Value

+0%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£46,250

Stamp Duty & Legal Fees

£6,750

Refurb Costs

£37,558

Bridging Loan Interest

£4,856

Total Cash In

£97,165

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£185,440

Mortgage (After Refinance)

£139,080

Mortgage LTV

75%

Cash Released

£330

Cash Left In

£96,835

Equity

£46,360

Rent Range

£515 - £1,650

Rent Estimate

£916

Running Costs/mo

£783

Cashflow/mo

£133

Cashflow/yr

£1,600

ROI

2%

Gross Yield

6%

Local Sold Prices

33 sold prices from £147K to £415K, average is £207K. £1.6K/m² to £3.2K/m², average is £2K/m².

PriceDateDistanceAddressBeds 
£174K02/230 mi38, Banks Way, Bentham, Lancaster, North Yorkshire LA2 7JH3
£165K09/210.04 mi5, Banks Rise, Bentham, Lancaster, North Yorkshire LA2 7JW3
£225K10/230.04 mi13, Banks Rise, Bentham, Lancaster, North Yorkshire LA2 7JW3
£177K10/200.07 mi53, Goodenber Road, Bentham, Lancaster, North Yorkshire LA2 7JE3
£158K01/210.07 mi62, Goodenber Road, Bentham, Lancaster, North Yorkshire LA2 7JE3
£147K03/210.1 mi25, Lakeber Avenue, Bentham, Lancaster, North Yorkshire LA2 7JN3
£210K12/220.1 mi17, Goodenber Road, Bentham, Lancaster, North Yorkshire LA2 7JD3
£180K02/210.13 mi30, Goodenber Road, Bentham, Lancaster, North Yorkshire LA2 7JD3
£220K10/200.14 mi14, Butterbergh, Bentham, Lancaster, North Yorkshire LA2 7FG3
£205K03/210.18 mi5, Highcroft, Bentham, Lancaster, North Yorkshire LA2 7FE3
£180K11/200.19 mi25, Main Street, Bentham, Lancaster, North Yorkshire LA2 7HQ3
£415K05/230.2 mi58, Robin Lane, Bentham, Lancaster, North Yorkshire LA2 7AG3
£266.3K09/230.22 mi9, Low Croft, Bentham, Lancaster, North Yorkshire LA2 7FD3
£180K10/230.22 mi6, Low Croft, Bentham, Lancaster, North Yorkshire LA2 7FD3
£217.5K05/210.22 mi8, Low Croft, Bentham, Lancaster, North Yorkshire LA2 7FD3
£235K02/230.22 mi11a, Low Croft, High Bentham, Lancaster, North Yorkshire LA2 7FD3
£287K01/210.22 mi1, Links Drive, Bentham, Lancaster, North Yorkshire LA2 7BJ3
£160K07/210.23 mi11, Mount Pleasant, Bentham, Lancaster, North Yorkshire LA2 7JY3
£215K12/230.25 mi1, Lairgill, Bentham, Lancaster, North Yorkshire LA2 7JZ3
£165K09/210.25 mi28, Station Road, Bentham, Lancaster, North Yorkshire LA2 7LF3
£180K01/210.25 mi40, Beechmount Cottages, Mount Pleasant, Bentham, Lancaster, North Yorkshire LA2 7LA3
£290K12/220.25 mi54, Mount Pleasant, High Bentham, Lancaster, North Yorkshire LA2 7LA3
£230K03/210.35 mi23, Springfield, Bentham, Lancaster, North Yorkshire LA2 7BA3
£257.5K04/210.37 mi2, Moons Acre, Bentham, Lancaster, North Yorkshire LA2 7BL3
£215K11/230.4 mi15, Springfield Crescent, Bentham, Lancaster, North Yorkshire LA2 7BD3
£325K03/210.4 mi26, Pye Busk Close, Bentham, Lancaster, North Yorkshire LA2 7BG3
£185K10/200.4 mi10, Pye Busk Close, Bentham, Lancaster, North Yorkshire LA2 7BG3
£230K02/210.47 mi15, Holme Park, Bentham, Lancaster, North Yorkshire LA2 7ND3
£172.5K08/230.49 mi17, Millholme Drive, Bentham, Lancaster, North Yorkshire LA2 7NE3
£180.5K08/210.51 mi12, Wenning Avenue, Bentham, Lancaster, North Yorkshire LA2 7LR3
£175K07/210.51 mi8, Wenning Avenue, Bentham, Lancaster, North Yorkshire LA2 7LR3
£207K12/200.99 mi1, The Sidings, Lower Bentham, Lancaster, North Yorkshire LA2 7BH3
£260K12/221 mi4, Harley Close, Lower Bentham, Lancaster, North Yorkshire LA2 7HD3

Local Rents

7 rents from £515/mo to £1.6K/mo, average is £775/mo.

RentDateDistanceAddressBeds 
£62505/240.15 miMill Gardens, Bentham2
£51503/240.16 miThe Millers Court,Bentham,LA21
£65004/240.17 miMain Street, Bentham, Lancaster3
£77504/240.23 mi12b Station Road, Bentham2
£1,65012/240.73 miTatterthorn Road, Bentham, Lancaster5
£1,30012/241.85 mi-4
£90005/241.9 miFourstones Cottage, Bentham, LA2 7DL3

Local Area Statistics

Population in LA2

21,979

Population in Lancaster

74,075

Town centre distance

13.30 miles away

Nearest school

0.40 miles away

Nearest train station

0.36 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

+7%

Sales demand

Buyer's market

Capital growth (5yrs)

+18%

Property History

Listed for £185,000

February 21, 2025

Floor Plans

Description

  • 3-bedroom, semi-detached house +
  • Situated in an elevated position at the end of a small cul-de-sac +
  • Upvc double glazed windows +
  • Gas fired central heating +
  • Spacious plot with gardens to three sides providing ample outdoor space +
  • Unrestricted street parking to the front +
  • With no onward chain +

Situated in an elevated position at the end of a small cul-de-sac with no passing traffic, this 3-bedroom, semi-detached home offers a fantastic opportunity for families or those looking to add their own personnel touch.

Spacious plot with gardens to three sides providing ample out door space, in a prime location approximately 500m from the town centre offering great potential with some modernisation required.

With accommodation laid over two floors, with upvc double glazed windows and gas fired central heating. Unrestricted street parking to the front.

With no onward chain a hassle-free purchase.

High Bentham is a popular market town set amid stunning countryside within the Forest of Bowland Area of Outstanding Natural Beauty. Bentham has all local amenities including independent shops, pubs, churches, cafes and a railway station with links to Lancaster, Skipton and Leeds.

A property well worthy of internal and external inspection to appreciate its size, layout and location.

ACCOMMODATION COMPRISES:

Ground Floor:
Entrance Hall, Lounge, Kitchen, Utility Room, Store.

First Floor:
Landing, 3 Bedrooms, Shower Room.

Outside
Gardens to Front, Side and Rear.

ACCOMMODATION:

GROUND FLOOR:

Entrance Hall:
4'9" x 5'0" (1.44 x 1.52)
With part glazed external entrance door, staircase to the first floor, radiator, meter cupboard.

Lounge:
15'9" x 13'0" (4.80 x 3.96)
Large room with upvc double glazed picture window, radiator, fireplace with gas fire.

Kitchen:
10'9" x 12'4" (3.27 x 3.75)
Range of base units with complementary worksurfaces, stainless steel sink with mixer taps, gas cooker point, two upvc double glazed windows, plumbing for washing machine, under stairs store cupboard housing gas fired combination boiler.

Utility Room:
8'5" x 5'7" (2.56 x 1.70)
Part glazed rear external entrance door, upvc double glazed window, radiator.

Store:
5'7" x 2'10" (1.70 x 0.86)
Shelved.

FIRST FLOOR:

Landing:
Access to 3 bedrooms, shower room, separate WC, upvc double glazed window.

Bedroom 1:
11'6" x 10'1" (3.50 x 3.07)
Double bedroom, upvc double glazed window, and radiator.

Bedroom 2:
10'10" x 10'1" (3.30 x 3.07)
Double bedroom, upvc double glazed window, and radiator.

Bedroom 3:
8'10" x 5'7" (2.69 x 1.70)
Single bedroom, upvc double glazed window, bulkhead store cupboard, and radiator.

House Shower Room:
7'6" x 4'8" (2.28 x 1.42)
Large shower enclosure with shower over off the system, with screen, boarded wall, pedestal wash hand basin, upvc double glazed window, radiator, shelved cupboard.

Separate WC:
With WC and upvc double glazed window.

OUTSIDE:

Front: Good sized fore garden, path, flower beds with mature shrubs.

Side: Paved/tarmacked area plus shed.

Rear: Path, raised lawn, mature trees/shrubs, second shed.

AGE:
Approximately 1950's

Directions:
Leave the Bentham office down the Main Street, go right on to Goodenber Road then next right on to Banks Rise, then left on to Banks Way, number 16 is on the right-hand side within the cul-de-sac. A For Sale board is erected.

What 3 Words:
Stockpile.warblers.mixer.

Tenure:
Freehold with vacant possession on completion.

Services:
All mains' services are connected to the property.

Viewing:
Strictly by prior arrangement with and accompanied by a member of the selling agents, Neil Wright Associates Ltd.

Purchase Procedure:
If you would like to make an offer on this property, then please make an appointment with Neil Wright Associates so that a formal offer can be submitted to the Vendors.
Marketing:
Should you be interested in this property but have a house to sell, then we would be pleased to come and give you a free market valuation.

N.B. YOUR HOME MAY BE AT RISK IF YOU DO NOT KEEP UP PAYMENTS ON YOUR MORTGAGE OR ANY OTHER LOAN SECURED AGAINST IT.

N.B. No electrical/gas appliances have been checked to ensure that they are in working order. The would-be purchasers are to satisfy themselves.

N.B. Money Laundering, prospective buyers should be aware that in the event that they make an offer for the property, they will be required to provide the agent with documents in relation to the Money Laundering Regulations; one being photographic ID, i.e., driving licence or passport and the other being a utility bill showing the address. These can be provided in the following ways: by calling into the office with copies or by way of a certified copy provided via their solicitor. In addition, prospective buyers will be required to provide information regarding the source of funding as part of the offer procedure.

Local Authority:
North Yorkshire Council
1 Belle Vue Square
Broughton Road
SKIPTON
North Yorkshire
BD23 1FJ

Council Tax Band 'B'

Agent Details

Neil Wright Associates, High Bentham

01524 967289

Next Steps?

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