2 Bed Terraced House, Refurb/BRRR, Lancaster, LA1 3QB, £140,000

Melbourne Road, Lancaster, Lancashire, LA1 3QB - 1 views - 25 days ago

Sold STC
Refurb/BRRR
ROI: 3%
~68 m²
+11 photos

ValuationFair Value

Sold Prices£100.5K - £261.5K
Sold Prices/m²£1.3K/m² - £3.3K/m²

 

 

Square Metres

~68.11 m²
Price/m²£2.1K/m²

Value Estimate

£139,628

 

 

End Value (After Refurb)

£154,814

Uplift in Value

+11%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£35,000

Stamp Duty & Legal Fees

£8,200

Refurb Costs

£27,537

Bridging Loan Interest

£3,675

Total Cash In

£76,162

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£154,814

Mortgage (After Refinance)

£116,110

Mortgage LTV

75%

Cash Released

£11,110

Cash Left In

£65,052

Equity

£38,703

Rent Range

£641 - £1,647

Rent Estimate

£861

Running Costs/mo

£676

Cashflow/mo

£185

Cashflow/yr

£2,220

ROI

3%

Gross Yield

7%

Local Sold Prices

50 sold prices from £100.5K to £261.5K, average is £145K. £1.3K/m² to £3.3K/m², average is £2.1K/m².

PriceDateDistanceAddressBeds 
£132K08/230 mi15, Melbourne Road, Lancaster, Lancashire LA1 3QB2
£117K04/210.04 mi7, Woodville Street, Lancaster, Lancashire LA1 3QD2
£178K03/210.04 mi7, Bath Mill Lane, Lancaster, Lancashire LA1 3QJ2
£108.7K10/230.09 mi27, St Peters Road, Lancaster, Lancashire LA1 3BS2
£100.5K11/200.1 mi28, Mill Street, Lancaster, Lancashire LA1 3PL2
£160K03/240.1 mi26, Nun Street, Lancaster, Lancashire LA1 3PJ2
£147K01/230.11 mi18, Mill Street, Lancaster, Lancashire LA1 3PL2
£165K01/230.11 mi20, Mill Street, Lancaster, Lancashire LA1 3PL2
£250K10/230.13 mi1, Dalton Road, Lancaster, Lancashire LA1 3PR2
£145K09/230.13 mi16, Denis Street, Lancaster, Lancashire LA1 1QX2
£117.5K03/240.13 mi10, Denis Street, Lancaster, Lancashire LA1 1QX2
£185K06/210.14 mi5, Garnet Street, Lancaster, Lancashire LA1 3PN2
£170K11/210.14 mi24, Garnet Street, Lancaster, Lancashire LA1 3PN2
£160K05/230.14 mi23, Garnet Street, Lancaster, Lancashire LA1 3PN2
£150K08/230.16 mi83, Grasmere Road, Lancaster, Lancashire LA1 3HB2
£170K09/210.16 mi45, Park Road, Lancaster, Lancashire LA1 3EJ2
£154K12/200.16 mi34, Park Road, Lancaster, Lancashire LA1 3EJ2
£172K01/240.16 mi32, Park Road, Lancaster, Lancashire LA1 3EJ2
£194.2K12/200.16 mi8, Rydal Road, Lancaster, Lancashire LA1 3HA2
£155K03/230.19 mi12, Grasmere Road, Lancaster, Lancashire LA1 3HE2
£157K06/210.19 mi41, Grasmere Road, Lancaster, Lancashire LA1 3HE2
£179.9K12/200.19 mi43, Grasmere Road, Lancaster, Lancashire LA1 3HE2
£138.5K02/210.2 mi6, Bond Street, Lancaster, Lancashire LA1 3ER2
£134K03/230.2 mi54, Melrose Street, Lancaster, Lancashire LA1 3DL2
£135K03/240.2 mi10, Melrose Street, Lancaster, Lancashire LA1 3DL2
£129K10/230.2 mi38, Melrose Street, Lancaster, Lancashire LA1 3DL2
£175K01/230.21 mi89, Windermere Road, Lancaster, Lancashire LA1 3EZ2
£117K04/210.21 mi13, Stirling Road, Lancaster, Lancashire LA1 3DE2
£169.9K12/200.22 mi4, Parker Street, Lancaster, Lancashire LA1 3EP2
£160K02/210.23 mi42, Windermere Road, Lancaster, Lancashire LA1 3EX2
£219K11/230.23 mi2, Windermere Road, Lancaster, Lancashire LA1 3EX2
£261.5K11/230.23 mi45, Windermere Road, Lancaster, Lancashire LA1 3EX2
£102K03/230.24 mi25, Albion Street, Lancaster, Lancashire LA1 1DY2
£130K12/230.25 mi6, Tarbet Street, Lancaster, Lancashire LA1 3DN2
£131K04/210.25 mi20, Argyle Street, Lancaster, Lancashire LA1 3DD2
£150K10/230.25 mi17, Argyle Street, Lancaster, Lancashire LA1 3DD2
£140K03/230.26 mi5, Elgin Street, Lancaster, Lancashire LA1 3DG2
£103K02/210.26 mi35, Elgin Street, Lancaster, Lancashire LA1 3DG2
£145K12/200.26 mi11, Kirkes Road, Lancaster, Lancashire LA1 3DP2
£126K05/230.27 mi5, Green Street, Lancaster, Lancashire LA1 1DZ2
£108.5K12/210.27 mi14, Dunkeld Street, Lancaster, Lancashire LA1 3DQ2
£127.5K11/210.27 mi29, Dunkeld Street, Lancaster, Lancashire LA1 3DQ2
£140K07/230.27 mi14, Dunkeld Street, Lancaster, Lancashire LA1 3DQ2
£140K03/230.27 mi29, Bulk Road, Lancaster, Lancashire LA1 1DN2
£161K05/230.28 mi22, Aberdeen Road, Lancaster, Lancashire LA1 3DA2
£124K03/210.28 mi38, Aberdeen Road, Lancaster, Lancashire LA1 3DA2
£126.8K02/210.28 mi62, Aberdeen Road, Lancaster, Lancashire LA1 3DA2
£158K05/230.28 mi62, Aberdeen Road, Lancaster, Lancashire LA1 3DA2
£142K06/230.28 mi15, Gregson Road, Lancaster, Lancashire LA1 3DH2
£121.5K05/210.28 mi41, Gregson Road, Lancaster, Lancashire LA1 3DH2

Local Rents

50 rents from £641/mo to £1.6K/mo, average is £813/mo.

RentDateDistanceAddressBeds 
£89506/240.06 mi-2
£92505/240.06 miWhitbarrow Square, Lancaster, LA12
£92506/240.06 miWhitbarrow Square, Lancaster, LA12
£75005/240.1 miSt Peters Road Lancaster2
£64105/240.13 miBulk Street, Lancaster2
£73001/250.14 mi-2
£70003/240.17 mi-2
£77505/240.19 miDavidson Street, Lancaster2
£1,10004/240.22 miThe Roundhouse, Robert Street, LA12
£65905/240.22 miGreenfield Court, Quarry Road, Lancaster, Lancashire, LA12
£87505/240.23 miNelson Street, Lancaster2
£85004/240.24 mi-2
£75006/240.24 mi-2
£75005/240.24 miCromwell Building, Lancaster, LA12
£85004/240.24 miSwallow Wharf, Troutbeck Road, Lancaster2
£85002/250.24 mi-2
£65004/240.25 miArgyle Street, Lancaster2
£90004/240.25 miAalborg Place, Court View House, LA12
£75004/240.25 miElgin Street, Lancaster2
£95012/240.25 mi-2
£75005/240.26 miGregson Road, Lancaster, LA12
£75002/250.26 mi-2
£67504/240.27 miGregson Road, Lancaster2
£72502/250.27 mi-2
£65006/240.28 mi-2
£65005/240.28 miQuarry Mount Mews, Lancaster, LA12
£85004/240.28 miGregson Road, Lancaster2
£70012/240.31 mi-2
£70004/240.32 miThurnham Street, City Centre, Lancaster, LA12
£75005/240.34 miWater Street, Lancaster, LA12
£75004/240.38 miBridge Square Apartments, Kingsway, Lancaster, LA12
£75005/240.38 miBridge Square Apartments, Kingsway, Lancaster, LA12
£1,05005/240.39 miNightingale House, LA1 4JT2
£1,20004/240.41 miWindermere House, Middle St, Lancaster, LA12
£1,20005/240.41 mi-2
£1,49505/240.41 mi-2
£1,64703/250.41 mi-2
£1,05005/240.42 miMiddle Street, Windermere House Middle Street, LA12
£1,00004/240.42 mi-2
£1,10005/240.43 miRoyal View, Knight's Bridge Apartments, Lancaster, LA12
£70004/240.43 miEarl Street, Lancaster, LA12
£87505/240.44 miDamside Street, Lancaster2
£90012/240.44 mi-2
£97504/240.44 miLune Square, Damside Street2
£94505/240.44 miLune Square, Lancaster, LA12
£89505/240.44 miLune Square, Lancaster, LA12
£70005/240.45 miEastham Street, Lancaster, LA12
£92505/240.45 miHigh Street, Lancaster2
£72512/240.45 mi-2
£70003/250.45 mi-2

Local Area Statistics

Population in LA1

52,095

Population in Lancaster

74,075

Town centre distance

0.92 miles away

Nearest school

0.20 miles away

Nearest train station

0.60 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+34%

Sales demand

Balanced market

Capital growth (5yrs)

+16%

Property History

Listed for £140,000

March 10, 2025

Floor Plans

Description

  • Two Bedroom Mid Terrace House +
  • Two Reception Rooms +
  • Upstairs bathroom +
  • Gas Central Heating +
  • Good Size Rear Yard +
  • Great South Lancaster location +
  • NO CHAIN +

Charming Two-Bedroom Mid-Terrace in Prime South Lancaster Location

Nestled in a sought-after South Lancaster location, this two-bedroom mid-terrace home offers fantastic potential for those looking to add their own touch. With an entrance vestibule, two spacious reception rooms and a kitchen on the ground floor, the layout provides ample living space. Upstairs, you'll find two double bedrooms, a shower room, and useful storage, including a landing cupboard and a bathroom cupboard housing the boiler.

The property boasts a good-sized rear yard, perfect for outdoor seating, along with a side alley for convenient access. On-street parking is available, making everyday life easy.

Situated within walking distance of Lancaster City Centre and close to the highly regarded Boys' Grammar School, this home is ideal for investors, first-time buyers, or a small family. While the property does require renovation, it presents an excellent opportunity to create a stylish and modern home in a prime location and available with NO CHAIN!

Don't miss out—book a viewing today!

Agent Details

Entwistle Green, Lancaster

01524 938270

Next Steps?

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