4 Bed Detached House, Refurb/BRRR, Morecambe, LA3 1NW, £249,950

365 Lancaster Road, Torrisholme, Morecambe LA4 6LZ - 2 views - 18 days ago

Refurb/BRRR
ROI: 1%
~129 m²
+9 photos

ValuationOvervalued

Sold Prices£77K - £595K
Sold Prices/m²£527/m² - £4.6K/m²

 

 

Square Metres

~129.26 m²
Price/m²£1.9K/m²

Value Estimate

£167,957

 

 

End Value (After Refurb)

£237,228

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£62,488

Stamp Duty & Legal Fees

£13,698

Refurb Costs

£52,259

Bridging Loan Interest

£6,561

Total Cash In

£136,755

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£237,228

Mortgage (After Refinance)

£177,921

Mortgage LTV

75%

Cash Left In

£136,755

Equity

£59,307

Rent Range

£750 - £1,695

Rent Estimate

£1,035

Running Costs/mo

£968

Cashflow/mo

£67

Cashflow/yr

£800

ROI

1%

Gross Yield

5%

Local Sold Prices

45 sold prices from £77K to £595K, average is £185K. £527/m² to £4.6K/m², average is £1.5K/m².

PriceDateDistanceAddressBeds 
£325K04/210.11 mi124, Sandylands Promenade, Heysham, Morecambe, Lancashire LA3 1NS4
£206K02/210.14 mi91, Norton Road, Heysham, Morecambe, Lancashire LA3 1PG4
£350K03/230.14 mi19, The Cliffs, Heysham, Morecambe, Lancashire LA3 1NY4
£292.5K02/210.16 mi25, Twemlow Parade, Heysham, Morecambe, Lancashire LA3 1PD4
£138K04/210.17 mi4, Rydal Grove, Heysham, Morecambe, Lancashire LA3 1DU4
£217.5K02/210.22 mi36, St Johns Road, Heysham, Morecambe, Lancashire LA3 1EX4
£430K11/220.23 mi18, St Johns Grove, Heysham, Morecambe, Lancashire LA3 1ET4
£295K06/230.27 mi299, Heysham Road, Heysham, Morecambe, Lancashire LA3 2BA4
£479.9K06/230.29 mi39, Twemlow Parade, Heysham, Morecambe, Lancashire LA3 2AJ4
£140K09/210.29 mi7, Norton Avenue, Heysham, Morecambe, Lancashire LA3 1HE4
£147K08/210.29 mi8, Norton Avenue, Heysham, Morecambe, Lancashire LA3 1HE4
£160K10/210.29 mi16, Norton Avenue, Heysham, Morecambe, Lancashire LA3 1HE4
£95K04/210.29 mi18, Norton Avenue, Heysham, Morecambe, Lancashire LA3 1HE4
£158K07/210.32 mi67, Granville Road, Heysham, Morecambe, Lancashire LA3 1ED4
£169K01/230.42 mi4, Mears Beck Close, Heysham, Morecambe, Lancashire LA3 1UX4
£230K04/210.43 mi14, Stansey Avenue, Heysham, Morecambe, Lancashire LA3 2AF4
£132K02/210.43 mi23, Stanley Road, Heysham, Morecambe, Lancashire LA3 1UP4
£105K09/210.48 mi25, Cavendish Road, Heysham, Morecambe, Lancashire LA3 1TX4
£155K01/230.48 mi192, Westminster Road, Morecambe, Lancashire LA3 1UN4
£180K09/210.49 mi41, Crofters Fold, Heysham, Morecambe, Lancashire LA3 2AH4
£180K01/210.52 mi10, Burnsall Avenue, Heysham, Morecambe, Lancashire LA3 2DT4
£125K04/210.52 mi114, Sefton Road, Heysham, Morecambe, Lancashire LA3 1UE4
£80K02/210.56 mi12, Brunswick Road, Heysham, Morecambe, Lancashire LA3 1RU4
£209K07/210.59 mi8, Knowlys Avenue, Heysham, Morecambe, Lancashire LA3 2PA4
£190K10/210.59 mi17, Threshfield Avenue, Heysham, Morecambe, Lancashire LA3 2DU4
£595K01/230.59 miWhittam House, Oxcliffe Road, Heaton With Oxcliffe, Morecambe, Lancashire LA3 3EG4
£125K06/230.59 mi17, Marlborough Road, Heysham, Morecambe, Lancashire LA3 1TL4
£260K07/230.74 mi6, Eardley Road, Heysham, Morecambe, Lancashire LA3 2PH4
£260K07/230.74 mi6, Eardley Road, Heysham, Morecambe, Lancashire LA3 2PH4
£77K11/200.75 mi16, Scott Road, Morecambe, Lancashire LA3 1AJ4
£185K05/210.76 mi16, Woborrow Road, Heysham, Morecambe, Lancashire LA3 2PN4
£182K02/210.76 mi18, Woborrow Road, Heysham, Morecambe, Lancashire LA3 2PN4
£308K06/210.78 mi19, Longlands Lane, Heysham, Morecambe, Lancashire LA3 2NR4
£95K06/230.78 mi75, Westminster Road, Morecambe, Lancashire LA4 4JE4
£490K06/210.81 mi14, Longlands Lane, Heysham, Morecambe, Lancashire LA3 2NS4
£177K05/210.81 mi72, Albert Road, Morecambe, Lancashire LA4 4HY4
£185.5K12/200.84 mi17, Chedworth Avenue, Heysham, Morecambe, Lancashire LA3 2HL4
£90K06/210.85 mi37, Clarendon Road East, Morecambe, Lancashire LA4 4HR4
£181K01/230.88 mi34, Westminster Road, Morecambe, Lancashire LA4 4JD4
£252.5K12/220.89 mi9, Edgcott Close, Heysham, Morecambe, Lancashire LA3 2HX4
£187.5K11/200.89 mi5, Edgcott Close, Heysham, Morecambe, Lancashire LA3 2HX4
£220K10/220.9 mi10, Carr Lane, Heysham, Morecambe, Lancashire LA3 2RL4
£185K01/210.91 mi11, Chatsworth Road, Morecambe, Lancashire LA4 4JG4
£274K10/210.92 mi12, Hurstleigh Drive, Heysham, Morecambe, Lancashire LA3 2HY4
£475K03/210.95 mi1, The Headlands, Heysham, Morecambe, Lancashire LA3 2RX4

Local Rents

28 rents from £750/mo to £1.7K/mo, average is £950/mo.

RentDateDistanceAddressBeds 
£1,35004/240.14 miHeysham Road, Lancaster, Morecambe4
£80004/240.15 miHawksworth Grove, Heysham4
£1,25012/230.28 mi-4
£85004/240.29 miWoodlands Drive, Heysham, Morecambe3
£95004/240.36 miCumberland View Road, Heysham, Morecambe3
£82507/240.38 miHampton Road, Heysham, Morecambe4
£89505/240.39 miHampton Road, Heysham3
£75012/230.64 mi-3
£95005/240.78 miClarendon Road, Morecambe3
£95008/240.79 miChatsworth Road, Morecambe, Lancashire, LA43
£77507/240.79 miBalmoral Road, Morecambe, Lancashire, LA43
£87504/240.81 miEastlands, Heysham, Morecambe, Lancashire3
£89908/240.81 miAlbert Road, Morecambe, Lancashire, LA43
£89908/240.81 miAlbert Road, Morecambe, Lancashire, LA43
£1,40002/250.82 mi-4
£1,40005/240.82 mi-4
£1,45001/250.82 mi-4
£95008/240.82 miChatsworth Road, Morecambe, Lancashire, LA43
£95008/240.82 miChatsworth Road, Morecambe, Lancashire, LA43
£99505/240.83 miWest End4
£75005/240.83 miWest End, Morecambe, LA43
£75005/240.83 miWest End, Morecambe, LA43
£1,55003/240.9 mi-8
£1,20006/240.9 mi-8
£1,25007/240.91 miWestminster Road, Morecambe5
£1,69508/241.09 miGreen Lane, Morecambe4
£75002/241.11 mi-3
£87502/251.2 mi-3

Local Area Statistics

Population in LA3

24,587

Population in Morecambe

50,836

Town centre distance

1.53 miles away

Nearest school

0.40 miles away

Nearest train station

1.28 miles away

 

 

Rental growth (12m)

-2%

Sales demand

Buyer's market

Capital growth (5yrs)

+31%

Property History

Listed for £249,950

March 18, 2025

Floor Plans

Description

Spacious four bedroom detached house conveniently situated for local primary and secondary schools, sea shore walks, historic Heysham Village and the M6 link road. The property is majority uPVC double glazed, gas central heated and briefly comprises: front entrance, hallway, bay fronted lounge with feature fireplace, separate living/dining room, kitchen, utility, ground floor wc, staircase and first floor landing, four bedrooms, two-piece bathroom and separate wc. Outside the property there is an elevated front garden with mature trees and shrubs and a low maintenance rear garden, laid to concrete (option for off-road parking for a small vehicle if required) with a timber garden shed. Although in need of some modernisation, this is a well-proportioned detached house in a popular and convenient location and internal viewings are highly recommended to appreciate its full potential. Sold with vacant possession and NO UPWARD CHAIN.

FRONT ENTRANCE
Open canopy over the front door with outside light. Timber front door with single glazed panels and original stained glass panels surrounding.

HALLWAY
Original stainless glass circular window. Central heating radiator. Coving. Picture rail. Ceiling light. Telephone point. Central heating thermostat. Staircase to the first floor. Understairs storage with uPVC double glazed window, electric meter, consumer unit, shelving and light.

LOUNGE 3.97m x 3.58m
(13'0" x 11'7")
uPVC double glazed bay window. Central heating radiator. Feature fireplace with inset fire. TV point. Coving. Ceiling light. Electric power points.

LIVING/DINING ROOM 3.34m x 4.25m
(10'10" x 13'9")
uPVC double glazed window. Central heating radiator. TV point. Ceiling light. Electric power points.

KITCHEN 2.83m x 2.58m
(9'3" x 8'5")
uPVC double glazed window. Central heating radiator. Tiled floor. Fitted kitchen furniture comprising: base units, wall units and drawers. Complementary working surfaces in part to all four walls, inset sink with mixer tap. Built-in 'Beko' electric oven, four ring gas hob, stainless steel cooker hood with extractor fan. Part tiled to all walls. Ceiling light. Electric power points. Access into:

REAR VESTIBULE
Timber back door leading out to the rear garden. Access into:

UTILITY ROOM 1.62m x 2.40m
(5'3" x 7'9")
uPVC double glazed window. Wall mounted 'Vaillant' gas combination boiler. Belfast sink. Tiled floor. Central heating radiator. Space and plumbing for a washing machine. Ceiling light. Electric power points.

GROUND FLOOR WC
uPVC double glazed window. Tiled floor. Mini wash hand basin and WC. Ceiling light. Cupboard housing the gas meter.

STAIRCASE FROM HALLWAY TO FIRST FLOOR

LANDING
Original stained glass window. Ceiling light. Electric power points.

BEDROOM ONE 3.39m x 3.59m
(11'1" x 11'8")
uPVC double glazed window. Central heating radiator. Ceiling light. Electric power points.

BEDROOM TWO 3.36m x 4.24m
(11'0" x 13'9")
uPVC double glazed window. Central heating radiator. Ceiling light. Electric power points.

BEDROOM THREE 2.58m x 2.32m
(8'5" x 7'6")
uPVC double glazed window. Central heating radiator. Ceiling light. Electric power points.

BEDROOM FOUR/STUDY 1.65m x 2.28m
(5'4" x 7'5")
uPVC double glazed window. Central heating radiator. Ceiling light. Electric power points.

BATHROOM 2.53m x 1.95m
(8'3" x 6'4")
uPVC double glazed window. Tiled floor. Central heating radiator. Two-piece suite comprising: bath with wall mounted shower and wash hand basin. Fully tiled around the bath and part tiled to remaining walls. Built-in storage cupboard with shelving. Ceiling light.

SEPARATE WC
uPVC double glazed window. Tiled floor. WC. Ceiling light.

OUTSIDE THE PROPERTY

FRONT GARDEN
Elevated front garden laid to concrete with flower, tree and shrub beds. Gated access leading down the side of the property into:

REAR GARDEN/OFF-ROAD PARKING
Low maintenance, laid to concrete. Timber garden shed. Surrounded by timber fencing and stone wall with wrought iron gate leading out onto the rear lane providing access for off-road parking for a small vehicle if required.

TENURE: Freehold

SERVICE: Mains water, mains drainage, mains electricity, mains gas. Local Authority Lancaster City Council. Council Tax Band D. Amount payable for the financial year 2024/25 being £2,297.00. Please note that this is a verbal enquiry only. We strongly recommend that prospective purchasers verify the information direct.

Council Tax Band: D (Lancaster City Council)
Tenure: Freehold

Agent Details

ibay Homes, Morecambe

01524 952012

Next Steps?

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