3 Bed Semi-Detached House, Refurb/BRRR, Morecambe, LA4 5SH, £180,000

Birklands Avenue, Morecambe, Lancashire, LA4 5SH - 2 views - 2 months ago

Refurb/BRRR
Planning
ROI: 3%
~93 m²
+11 photos

ValuationOvervalued

Sold Prices£85K - £270K
Sold Prices/m²£697/m² - £4.7K/m²

 

 

Square Metres

~93 m²
Price/m²£1.9K/m²

Value Estimate

£165,046

 

 

End Value (After Refurb)

£177,250

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£45,000

Stamp Duty & Legal Fees

£10,200

Refurb Costs

£37,588

Bridging Loan Interest

£4,725

Total Cash In

£99,263

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£177,250

Mortgage (After Refinance)

£132,938

Mortgage LTV

75%

Cash Left In

£99,263

Equity

£44,313

Rent Range

£725 - £2,250

Rent Estimate

£1,071

Running Costs/mo

£788

Cashflow/mo

£283

Cashflow/yr

£3,395

ROI

3%

Gross Yield

7%

Local Sold Prices

50 sold prices from £85K to £270K, average is £145.5K. £697/m² to £4.7K/m², average is £1.7K/m².

PriceDateDistanceAddressBeds 
£110K08/210 mi15a, Birklands Avenue, Morecambe, Lancashire LA4 5SH3
£161.5K03/230.04 mi6, Netherlands Road, Morecambe, Lancashire LA4 5SJ3
£106K12/200.06 mi19, Maylands Square, Morecambe, Lancashire LA4 5RY3
£145K05/230.06 mi14, Maylands Square, Morecambe, Lancashire LA4 5RY3
£146K06/230.06 mi20, Maylands Square, Morecambe, Lancashire LA4 5RY3
£143K12/220.06 mi5, Maylands Square, Morecambe, Lancashire LA4 5RY3
£136K12/220.06 mi24, Maylands Square, Morecambe, Lancashire LA4 5RY3
£160K01/230.06 mi20, Lowlands Road, Morecambe, Lancashire LA4 5SA3
£175K05/230.06 mi9, Lowlands Road, Morecambe, Lancashire LA4 5SB3
£110K03/210.1 mi35, Croft Street, Morecambe, Lancashire LA4 5SS3
£100K11/200.1 mi8, Croft Street, Morecambe, Lancashire LA4 5SS3
£120K11/220.1 mi15, Croft Street, Morecambe, Lancashire LA4 5SS3
£85K11/210.1 mi27, Buxton Street, Morecambe, Lancashire LA4 5SR3
£135K07/210.11 mi17, Brendjean Road, Morecambe, Lancashire LA4 5SE3
£185K02/230.11 mi38, Brendjean Road, Morecambe, Lancashire LA4 5SE3
£135K03/230.13 mi9, Whitby Road, Morecambe, Lancashire LA4 5ST3
£110K03/210.16 mi2, St Michaels Grove, Morecambe, Lancashire LA4 5SF3
£114.5K06/210.18 mi27, George Street, Morecambe, Lancashire LA4 5SU3
£137K11/220.18 mi11, George Street, Morecambe, Lancashire LA4 5SU3
£125K10/210.18 mi28, Cartmel Place, Morecambe, Lancashire LA4 5UT3
£165K04/210.2 mi93, Wingate Avenue, Morecambe, Lancashire LA4 4SN3
£160K04/210.21 mi19, South Avenue, Morecambe, Lancashire LA4 5RJ3
£270K07/230.22 mi3, Loupsfell Drive, Morecambe, Lancashire LA4 4SB3
£133K12/200.23 mi33, South Grove, Morecambe, Lancashire LA4 5RL3
£115.8K12/200.23 mi65, Christie Avenue, Morecambe, Lancashire LA4 5UP3
£159.9K06/210.24 mi65, Altham Road, Morecambe, Lancashire LA4 4RU3
£120K12/200.24 mi2, Thomas Grove, Morecambe, Lancashire LA4 5TF3
£120K04/210.25 mi16, Langdale Road, Morecambe, Lancashire LA4 5XA3
£130K03/230.25 mi12, Mardale Avenue, Morecambe, Lancashire LA4 5XF3
£261K08/230.26 mi29, Gringley Road, Morecambe, Lancashire LA4 4RW3
£225K06/220.27 mi5, Rusland Gardens, Morecambe, Lancashire LA4 4UU3
£267K08/230.27 mi22, Burlington Avenue, Morecambe, Lancashire LA4 5XL3
£172.5K01/210.27 mi20, Borrowdale Grove, Morecambe, Lancashire LA4 5XJ3
£110K11/200.27 mi105, Christie Avenue, Morecambe, Lancashire LA4 5UR3
£163K04/210.28 mi16, St Oggs Road, Morecambe, Lancashire LA4 4RJ3
£157.5K05/230.28 mi14, Bateman Grove, Morecambe, Lancashire LA4 5TB3
£172.5K11/200.29 mi29, Bellfield Road, Morecambe, Lancashire LA4 5NQ3
£191.5K11/210.31 mi26, Bowfell Avenue, Morecambe, Lancashire LA4 5XD3
£180K02/230.31 mi18, Bowfell Avenue, Morecambe, Lancashire LA4 5XD3
£150K02/210.31 mi18, Bowfell Avenue, Morecambe, Lancashire LA4 5XD3
£150K11/200.31 mi12, Bowfell Avenue, Morecambe, Lancashire LA4 5XD3
£130K06/210.31 mi20, Cross Street, Morecambe, Lancashire LA4 5ND3
£155K06/230.31 mi34, Cross Street, Morecambe, Lancashire LA4 5ND3
£170K11/210.32 mi2, Pennine View, Morecambe, Lancashire LA4 4QB3
£85K11/200.33 mi13, Primrose Street, Morecambe, Lancashire LA4 5LS3
£225K07/210.33 mi19, South Road, Morecambe, Lancashire LA4 5RE3
£140K12/200.33 mi48, Grayrigg Drive, Morecambe, Lancashire LA4 4UJ3
£130K03/210.33 mi47, Grayrigg Drive, Morecambe, Lancashire LA4 4UJ3
£270K01/230.34 mi48, Foxfield Avenue, Morecambe, Lancashire LA4 4SS3
£151K11/200.34 mi3, Lathom Avenue, Morecambe, Lancashire LA4 5XR3

Local Rents

13 rents from £725/mo to £2.3K/mo, average is £895/mo.

RentDateDistanceAddressBeds 
£90004/240.13 miWhitby Road, Morecambe3
£85006/240.26 miHampsfell Drive, Westgate, Morecambe, Lancashire3
£89504/240.33 miHestham Avenue, Morecambe3
£2,25004/240.37 mi-3
£1,95012/240.37 mi-3
£92504/240.4 miHampsfell Drive, Westgate3
£95004/240.4 miThornton Road, Morecambe3
£80008/240.4 miWestover Street, Morecambe, LA43
£77504/240.54 miThornton Road, Morecambe, LA43
£1,30005/240.57 miLichfield Avenue, Bare3
£72508/240.58 miClarence Street, Lancaster, Morecambe3
£85001/250.6 mi-3
£75002/240.6 mi-3

Local Area Statistics

Population in LA4

26,244

Population in Morecambe

50,836

Town centre distance

0.20 miles away

Nearest school

0.20 miles away

Nearest train station

0.69 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+8%

Sales demand

Balanced market

Capital growth (5yrs)

+28%

Property History

Listed for £180,000

March 5, 2025

Floor Plans

Description

  • Three bedroom semi detached house +
  • Large living/dining room +
  • Long driveway +
  • Spacious rear garden +
  • Fantastic cul de sac location in Morecambe +
  • Excellent transport links +
  • No chain +

Introducing this three-bedroom semi-detached house located in a quiet cul-de-sac in Morecambe. This property, although in need of modernisation, has been well cared for over the years, making it an ideal opportunity for those seeking a home that they can put their own stamp on.

This accommodation is fully double glazed, electric heating and briefly comprises: Upon entering, you are greeted by a large and welcoming entrance hall. The living/dining room is the full depth of the property, adorned with a large bay window, provides a bright and welcoming atmosphere. While the rear window could be replaced with patio doors; providing easy access to the rear garden (subject to building regulations). Kitchen with free standing cooker, plumbing for a washing machine, space for a fridge freezer and under the stair’s storage cupboard ideal for a pantry.

Moving to the first floor, you will find a shower room with storage cupboard, two spacious double bedrooms and a generous single bedroom with built in wardrobe, perfect for guests or as a home office.

Externally, the property features a large low maintenance garden at the front, offering a pleasant and inviting entrance. To the side is a long driveway leading to the large garden to the rear. To the rear, a large flag-paved garden awaits, offering a versatile space for relaxation, gardening, and outdoor activities. There is also a wooden shed for extra storage.

It is worth noting this property provides vast potential to re-arrange the layout and create an open plan kitchen, living space and/or extend to the rear (subject to planning permission).

Conveniently located within walking distance to Morecambe town centre, this property offers easy access to a range of amenities, including shops, restaurants, schools, doctors, and leisure facilities. With its spacious rooms, extended kitchen, and desirable features, this extended three-bedroom semi-detached house presents an exceptional opportunity to create a comfortable and stylish home in a sought-after location.

Overall, this three-bedroom semi-detached house presents a fantastic opportunity to create your dream home. Don't miss out on the chance to make this property your own and enjoy the benefits of a quiet cul-de-sac location in Morecambe.

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 💪