3 Bed Semi-Detached House, Refurb/BRRR, Morecambe, LA3 2AR, £184,950

Tibicar Drive East, Heysham, Morecambe, LA3 2AR - 11 days ago

Refurb/BRRR
ROI: 1%
~93 m²
+6 photos

ValuationOvervalued

Sold Prices£86K - £465K
Sold Prices/m²£1K/m² - £3.7K/m²

 

 

Square Metres

~93 m²
Price/m²£2K/m²

Value Estimate

£176,445

 

 

End Value (After Refurb)

£194,857

Uplift in Value

+5%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£46,238

Stamp Duty & Legal Fees

£10,448

Refurb Costs

£37,600

Bridging Loan Interest

£4,855

Total Cash In

£100,890

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£194,857

Mortgage (After Refinance)

£146,143

Mortgage LTV

75%

Cash Released

£7,430

Cash Left In

£93,460

Equity

£48,714

Rent Range

£750 - £950

Rent Estimate

£858

Running Costs/mo

£801

Cashflow/mo

£57

Cashflow/yr

£690

ROI

1%

Gross Yield

6%

Local Sold Prices

50 sold prices from £86K to £465K, average is £189.5K. £1K/m² to £3.7K/m², average is £2.1K/m².

PriceDateDistanceAddressBeds 
£207.9K12/200.1 mi1, Arncliffe Road, Heysham, Morecambe, Lancashire LA3 2AT3
£195K01/230.11 mi154, Fairfield Road, Heysham, Morecambe, Lancashire LA3 1LS3
£130K10/200.11 mi45, Kingsway, Heysham, Morecambe, Lancashire LA3 2EB3
£180K08/210.11 mi14, Arncliffe Road, Heysham, Morecambe, Lancashire LA3 2AT3
£115K11/200.16 mi153, Fairfield Road, Heysham, Morecambe, Lancashire LA3 1LR3
£163K06/210.18 mi37, Tranmere Crescent, Heysham, Morecambe, Lancashire LA3 2BE3
£220K11/220.18 mi34, Woodlands Drive, Heysham, Morecambe, Lancashire LA3 1NA3
£134K02/230.18 mi46, Kingsway, Heysham, Morecambe, Lancashire LA3 2ED3
£157K06/210.19 mi9, Hale Carr Lane, Heysham, Morecambe, Lancashire LA3 2AE3
£250K12/220.2 mi70, Norton Road, Heysham, Morecambe, Lancashire LA3 1PG3
£185K12/210.2 mi82, Norton Road, Heysham, Morecambe, Lancashire LA3 1PG3
£182K06/210.22 mi4, Norton Grove, Heysham, Morecambe, Lancashire LA3 1PQ3
£170K08/230.22 mi18, Woodlands Drive, Heysham, Morecambe, Lancashire LA3 1LZ3
£225K11/200.24 mi13, Twemlow Parade, Heysham, Morecambe, Lancashire LA3 1PD3
£210K05/210.25 mi1, Woodlands Grove, Heysham, Morecambe, Lancashire LA3 1NF3
£275K02/210.26 mi335, Heysham Road, Heysham, Morecambe, Lancashire LA3 2BP3
£237.5K06/210.26 mi67, Norton Road, Heysham, Morecambe, Lancashire LA3 1PF3
£415K05/230.27 mi73, Twemlow Parade, Heysham, Morecambe, Lancashire LA3 2AL3
£157K01/230.31 mi8, Mallowdale Avenue, Heysham, Morecambe, Lancashire LA3 2ES3
£126K03/210.31 mi14, Mallowdale Avenue, Heysham, Morecambe, Lancashire LA3 2ES3
£170K06/230.31 mi6, Mallowdale Avenue, Heysham, Morecambe, Lancashire LA3 2ES3
£208K01/210.31 mi6, Craiglands Avenue, Heysham, Morecambe, Lancashire LA3 1NX3
£465K02/210.31 mi107, Twemlow Parade, Heysham, Morecambe, Lancashire LA3 2DL3
£205K06/210.33 mi9, Sugham Lane, Heysham, Morecambe, Lancashire LA3 2DR3
£330K09/220.35 mi2, Sugham Lane, Heysham, Morecambe, Lancashire LA3 2DR3
£215K11/210.36 mi41, Lordsome Road, Heysham, Morecambe, Lancashire LA3 1JE3
£120K05/230.36 mi12, Littledale Avenue, Heysham, Morecambe, Lancashire LA3 2ER3
£156K03/210.36 mi11, Littledale Avenue, Heysham, Morecambe, Lancashire LA3 2ER3
£295K11/210.37 mi8, St Johns Grove, Heysham, Morecambe, Lancashire LA3 1ET3
£184.5K11/200.37 mi37, Norton Road, Heysham, Morecambe, Lancashire LA3 1HA3
£86K01/210.39 mi89, Bowland Road, Heysham, Morecambe, Lancashire LA3 2EP3
£125K08/210.4 mi89, Bowland Road, Heysham, Morecambe, Lancashire LA3 2EP3
£194K07/210.4 mi10, Rydal Road, Heysham, Morecambe, Lancashire LA3 1DT3
£220K01/210.41 mi19, Knowlys Avenue, Heysham, Morecambe, Lancashire LA3 2PA3
£210K12/220.41 mi1, Knowlys Avenue, Heysham, Morecambe, Lancashire LA3 2PA3
£199.9K02/210.41 mi21, Hillmount Avenue, Heysham, Morecambe, Lancashire LA3 2DQ3
£210.1K12/220.41 mi14, Hillmount Avenue, Heysham, Morecambe, Lancashire LA3 2DQ3
£160K02/210.41 mi4, Hillmount Avenue, Heysham, Morecambe, Lancashire LA3 2DQ3
£133K06/210.42 mi41, Harewood Avenue, Heysham, Morecambe, Lancashire LA3 1JH3
£120K03/210.43 mi52, Lordsome Road, Heysham, Morecambe, Lancashire LA3 1JB3
£130.2K06/210.43 mi22, Lordsome Road, Heysham, Morecambe, Lancashire LA3 1JB3
£143K10/210.43 mi42, Harewood Avenue, Heysham, Morecambe, Lancashire LA3 1JQ3
£250K05/210.45 mi11, Knowlys Drive, Heysham, Morecambe, Lancashire LA3 2PD3
£297.5K05/230.45 mi393, Heysham Road, Heysham, Morecambe, Lancashire LA3 2JH3
£170K12/200.46 mi67, Fairfield Road, Heysham, Morecambe, Lancashire LA3 1ES3
£110K07/210.47 mi3, Balmoral Avenue, Heysham, Morecambe, Lancashire LA3 1JU3
£310K11/220.48 mi1, Hillsea Avenue, Heysham, Morecambe, Lancashire LA3 2BU3
£297K12/220.49 mi54, Lister Grove, Heysham, Morecambe, Lancashire LA3 2DG3
£129.9K11/200.49 mi50, Lister Grove, Heysham, Morecambe, Lancashire LA3 2DG3
£250K10/220.5 mi152, Balmoral Road, Morecambe, Lancashire LA3 1HW3

Local Rents

21 rents from £750/mo to £950/mo, average is £875/mo.

RentDateDistanceAddressBeds 
£85004/240.19 miWoodlands Drive, Heysham, Morecambe3
£87504/240.55 miEastlands, Heysham, Morecambe, Lancashire3
£89505/240.56 miHampton Road, Heysham3
£95004/240.57 miCumberland View Road, Heysham, Morecambe3
£75012/230.78 mi-3
£77507/240.89 miBalmoral Road, Morecambe, Lancashire, LA43
£95008/240.89 miChatsworth Road, Morecambe, Lancashire, LA43
£95005/240.91 miClarendon Road, Morecambe3
£89908/240.92 miAlbert Road, Morecambe, Lancashire, LA43
£89908/240.92 miAlbert Road, Morecambe, Lancashire, LA43
£75005/240.93 miWest End, Morecambe, LA43
£75005/240.93 miWest End, Morecambe, LA43
£95008/240.94 miChatsworth Road, Morecambe, Lancashire, LA43
£95008/240.94 miChatsworth Road, Morecambe, Lancashire, LA43
£90010/241.08 mi-3
£79508/241.12 miRobin Crescent, Windermere Park, Heysham3
£77504/241.12 miDelamere Avenue, Heysham, Morecambe3
£77506/241.12 miDelamere Avenue, Heysham, Morecambe3
£87502/251.13 mi-3
£75002/241.13 mi-3
£95008/241.15 miMossgate Park, Heysham, Morecambe3

Local Area Statistics

Population in LA3

24,587

Population in Morecambe

50,836

Town centre distance

1.56 miles away

Nearest school

0.20 miles away

Nearest train station

1.39 miles away

 

 

Rental growth (12m)

-2%

Sales demand

Buyer's market

Capital growth (5yrs)

+31%

Property History

Listed for £184,950

March 25, 2025

Floor Plans

Description

Traditional three bedroom semi-detached house in this popular location, convenient for amenities at Strawberry Gardens and Heysham village as well as local schools and public transport. The property is majority uPVC double glazed, gas central heated and briefly comprises: front entrance, hallway with staircase to the first floor, open plan bay-fronted lounge/dining room, kitchen, first floor landing, two double bedrooms, third bedroom, three-piece bathroom/wc. Outside, there is a low maintenance front garden/driveway providing off-road parking, good size enclosed rear garden laid to paving with large timber garden shed and there is a detached garage. Although in need of some modernisation, this property nonetheless offers excellent potential and internal viewings are essential. NO CHAIN.

FRONT ENTRANCE

uPVC double glazed door set into the original archway. uPVC double glazed windows.

HALLWAY

Ceiling light. Electric power point. Central heating thermostat. Central heating radiator. Understairs storage cupboard with window, light, shelving, coat hooks, electric meter and electric fuse box.

LOUNGE DINER 3.45m x 8.05m
(11'3" x 26'4")

LOUNGE AREA 3.45m x 3.49m
(11'3" x 11'5")

uPVC double glazed bay window. Central heating radiator. Ceiling light. Electric power points. Feature fireplace with inset fire.

DINING AREA 3.45m x 4.56m
(11'3" x 14'9")

uPVC double glazed patio doors leading out to the rear garden. Central heating radiator. Ceiling light. Electric power points. Feature fireplace with woodburning stove.

KITCHEN 2.08m x 4.75m
(6'8" x 15'6")

uPVC double glazed windows. Central heating radiator. Ceiling lights. Electric power points. Working surfaces to three walls, inset one and half bowl stainless steel sink with drainer. Space for an electric cooker. Pull out cooker hood with extractor fan and light. space for a washing machine. Space for a fridge.

STAIRCASE TO FROM HALLWAY TO THE FIRST FLOOR

LANDING

uPVC double glazed window. Ceiling light. electric power point. Access into the roof space.

BEDROOM ONE 3.22m x 3.41m
(10'6" x 11'2")

uPVC double glazed bay window. Central heating radiator. Ceiling light. Electric power points.

BEDROOM TWO 3.51m x 3.10m (to the wardrobes)
(11'5" x 10'2")

uPVC double glazed window. Central heating radiator. Ceiling light. Electric power points. Fitted wardrobes to one wall.

BEDROOM THREE 2.35m x 2.58m
(7'7" x 8'5")

uPVC double glazed window. Central heating radiator. Ceiling light. Electric power points.

BATHROOM/WC 2.16m x 2.09m
(7'1" x 6'9")

uPVC double glazed window. ceiling light. extractor fan. Vertical heated towel rail. Central heating radiator. Tiled to all walls. Three-piece suite comprising: bath, wash hand basin and wc.

OUTSIDE THE PROPERTY

FRONT GARDEN

Laid to stone chippings. Paved pathway to the front door. Outside light.

DRIVEWAY

Dropped kerb off Tibicar Drive East leading onto the driveway providing off road parking and leading down the side of the property to the detached garage. External gas meter. External electric power points. Access through timber gate into the rear garden.

GARAGE

Accessed via timber double doors. Power and light. uPVC double glazed side window.

REAR GARDEN

Laid to paving and stone chippings.

TIMBER GARDEN SHED

Accessed via double timber doors. Power and light.

TENURE: Freehold

SERVICES: Mains water, mains drainage, mains electricity, mains gas. Local Authority Lancaster City Council. Council Tax Band A. Amount payable for the financial year 2024/25 being £1,531. Please note that this is a verbal enquiry only. We strongly recommend that prospective purchasers verify the information direct.

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

Agent Details

ibay Homes, Morecambe

01524 952012

Next Steps?

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