2 Bed Bungalow, Refurb/BRRR, Lancaster, LA2 7BD, £155,000

11 Springfield Crescent, High Bentham, Nr Lancaster, LA2 7BD - 1 views - a month ago

Refurb/BRRR

ROI: 3%

~68 m²

ValuationFair Value

Sold Prices	£117.5K - £315K
Sold Prices/m²	£1.8K/m² - £4.4K/m²

Square Metres	~68.11 m²
Price/m²	£2.3K/m²
Value Estimate	£158,100£158,100

End Value (After Refurb)	£153,500£153,500

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£38,750£38,750
Stamp Duty & Legal Fees	£8,950£8,950
Refurb Costs	£27,507£27,507
Bridging Loan Interest	£4,069£4,069
Total Cash In	£81,026£81,026

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£153,500£153,500
Mortgage (After Refinance)	£115,125£115,125
Mortgage LTV	75%75%
Cash Left In	£81,026£81,026
Equity	£38,375£38,375
Rent Range	£515 - £1,650£515 - £1,650
Rent Estimate	£916
Running Costs/mo	£683£683
Cashflow/mo	£233£233
Cashflow/yr	£2,797£2,797
ROI	3%3%
Gross Yield	7%7%

Local Sold Prices

26 sold prices from £117.5K to £315K, average is £180K. £1.8K/m² to £4.4K/m², average is £3.1K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£230K	08/23	0.26 mi	20, Butterbergh, Bentham, Lancaster, North Yorkshire LA2 7FG	£3,067	75	2	Semi-Detached House
£165K	03/21	0.32 mi	4, School Hill, Bentham, Lancaster, North Yorkshire LA2 7JX	£2,500	66	2	Terraced House
£224K	01/24	0.36 mi	17, Lakeber Avenue, Bentham, Lancaster, North Yorkshire LA2 7JN	£3,200	70	2	Bungalow
£315K	04/23	0.37 mi	Chee Tor, 38, Robin Lane, Bentham, Lancaster, North Yorkshire LA2 7AG	-	-	2	Detached House
£143K	04/23	0.4 mi	39, Banks Way, Bentham, Lancaster, North Yorkshire LA2 7JH	£1,986	72	2	Semi-Detached House
£175K	10/23	0.46 mi	6, Police Yard, Bentham, Lancaster, North Yorkshire LA2 7HH	£2,500	70	2	Terraced House
£124K	06/21	0.52 mi	63, Main Street, Bentham, Lancaster, North Yorkshire LA2 7HP	£2,531	49	2	Terraced House
£158K	02/23	0.65 mi	8, Mayfield Road, Bentham, Lancaster, North Yorkshire LA2 7LP	£1,779	89	2	Terraced House
£117.5K	11/23	0.66 mi	2, Mayfield Road, Bentham, Lancaster, North Yorkshire LA2 7LP	-	-	2	Terraced House
£175K	09/23	0.69 mi	6, Wenning Avenue, Bentham, Lancaster, North Yorkshire LA2 7LR	£4,375	40	2	Terraced House
£250K	11/22	1.23 mi	Valley Field, Low Bentham Road, Lower Bentham, Lancaster, North Yorkshire LA2 7BT	-	-	2	Detached House
£170K	02/23	1.48 mi	7, Highfield Terrace, Lower Bentham, Lancaster, North Yorkshire LA2 7EP	-	-	2	Terraced House
£223K	06/23	1.51 mi	8, Cheapside, Lower Bentham, Lancaster, North Yorkshire LA2 7EJ	£3,431	65	2	Terraced House
£257K	07/23	2.14 mi	Smithy Cottage, Duke Street, Burton In Lonsdale, Carnforth, North Yorkshire LA6 3LG	£4,079	63	2	Terraced House
£152.5K	08/23	2.18 mi	2, Sawmill Cottages, Burton In Lonsdale, Carnforth, North Yorkshire LA6 3JS	-	-	2	Terraced House
£190K	01/21	2.19 mi	Breastfield Cottage, High Street, Burton In Lonsdale, Carnforth, North Yorkshire LA6 3JP	£3,065	62	2	Terraced House
£180K	05/21	2.21 mi	2, Stonebower Cottages, Burton In Lonsdale, Carnforth, North Yorkshire LA6 3JX	-	-	2	Terraced House
£210K	01/21	2.29 mi	2, The Ingles, Ingleton, Carnforth, North Yorkshire LA6 3PP	£2,500	84	2	Terraced House
£125K	10/20	2.42 mi	2, Tansey Terrace, Ingleton, Carnforth, North Yorkshire LA6 3BX	£1,953	64	2	Terraced House
£127K	01/21	2.52 mi	8, Burnmoor View, Ingleton, Carnforth, North Yorkshire LA6 3BL	-	-	2	Terraced House
£185K	12/22	2.72 mi	3, Strand Cottages, Ingleton, Carnforth, North Yorkshire LA6 3EW	-	-	2	Terraced House
£191K	04/23	2.73 mi	19, Ingleborough Park Drive, Ingleton, Carnforth, North Yorkshire LA6 3AJ	-	-	2	Semi-Detached House
£257.5K	12/20	2.73 mi	13, Ingleborough Park Drive, Ingleton, Carnforth, North Yorkshire LA6 3AJ	£3,219	80	2	Detached House
£275K	03/23	2.76 mi	28, High Street, Ingleton, Carnforth, North Yorkshire LA6 3AD	-	-	2	Terraced House
£180K	04/23	2.77 mi	3, The Square, Ingleton, Carnforth, North Yorkshire LA6 3EG	£3,750	48	2	Terraced House
£175K	08/23	2.8 mi	1, Sammy Lane Close, Ingleton, Carnforth, North Yorkshire LA6 3FD	-	-	2	Terraced House

Local Rents

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

Rent	Date	Distance	Address	Beds	Type
£1,650	12/24	0.35 mi	Tatterthorn Road, Bentham, Lancaster	5	Detached House
£515	03/24	0.38 mi	The Millers Court,Bentham,LA2	1	Flat
£775	04/24	0.41 mi	12b Station Road, Bentham	2	Flat
£625	05/24	0.41 mi	Mill Gardens, Bentham	2	Flat
£650	04/24	0.42 mi	Main Street, Bentham, Lancaster	3	Flat
£900	05/24	1.85 mi	Fourstones Cottage, Bentham, LA2 7DL	3	Semi-Detached House
£1,300	12/24	2.14 mi	-	4	Terraced House

Local Area Statistics

Population in LA2	21,97921,979
Population in Lancaster	74,07574,075
Town centre distance	13.63 miles away13.63 miles away
Nearest school	0.80 miles away0.80 miles away
Nearest train station	0.48 miles away0.48 miles away

Rental demand	Tenant's marketTenant's market
Rental growth (12m)	+7%+7%
Sales demand	Buyer's marketBuyer's market
Capital growth (5yrs)	+18%+18%

Property History

Listed for £155,000

March 12, 2025

Description

Semi-Detached True Bungalow +
Lounge & Separate Dining Room +
Separate Kitchen +
Two Bedrooms & Family Bathroom +
Gardens To Front & Rear +
Single Garage & Off Road Parking +
NO CHAIN DELAY +

Semi-detached two bedroom true bungalow in need of complete refurbishment. The property is located in a quiet close overlooking a pleasant ‘green’. Briefly comprising: Entrance hallway, lounge opening into a dining room, separate kitchen, two bedrooms and house bathroom. Outside is a shared driveway with a single garage, off street parking, gardens to the front and rear. IN NEED OF COMPLETE REFURBISHMENT AND OFFERED WITH NO CHAIN DELAY. Network / Broadband: Please check the Ofcom website for available internet providers and outdoor mobile networks available from UK's main providers (this excludes 5G). Please Note: These results are predictions and not guaranteed and may also differ, subject to circumstances, e.g. precise location & network outage. Timber Frame

Agent Details

Richard Turner & Son, Bentham (Nr Lancaster),

01524 967488

Next Steps?

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

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